Revenue Recognition (Tables)

9 Months Ended

Sep. 30, 2026

Revenue from Contract with Customer [Abstract]

Revenues by geographic area and customer type were as follows:


	Three Months Ended September 30, 2026				Three Months Ended September 30, 2025
	Government Operations		Commercial Operations		Total		Government Operations		Commercial Operations		Total
	(In thousands)
United States:
Government	$	596,938	$	26,481	$	623,419	$	572,313	$	88	$	572,401
Non-Government	23,934		45,816		69,750		38,224		33,056		71,280
	$	620,872	$	72,297	$	693,169	$	610,537	$	33,144	$	643,681
Canada:
Government	$	8,292	$	—	$	8,292	$	159	$	—	$	159
Non-Government	242		218,670		218,912		32		199,354		199,386
	$	8,534	$	218,670	$	227,204	$	191	$	199,354	$	199,545
Other:
Government	$	6,125	$	22	$	6,147	$	3,701	$	—	$	3,701
Non-Government	3,545		23,213		26,758		2,268		18,473		20,741
	$	9,670	$	23,235	$	32,905	$	5,969	$	18,473	$	24,442
Segment Revenues	$	639,076	$	314,202	953,278		$	616,697	$	250,971	867,668
Eliminations					(306)						(1,382)
Revenues					$	952,972					$	866,286


	Nine Months Ended September 30, 2026				Nine Months Ended September 30, 2025
	Government Operations		Commercial Operations		Total		Government Operations		Commercial Operations		Total
	(In thousands)
United States:
Government	$	1,691,241	$	27,322	$	1,718,563	$	1,611,357	$	272	$	1,611,629
Non-Government	77,085		132,887		209,972		132,370		73,785		206,155
	$	1,768,326	$	160,209	$	1,928,535	$	1,743,727	$	74,057	$	1,817,784
Canada:
Government	$	26,088	$	—	$	26,088	$	271	$	—	$	271
Non-Government	480		662,442		662,922		154		442,133		442,287
	$	26,568	$	662,442	$	689,010	$	425	$	442,133	$	442,558
Other:
Government	$	12,174	$	22	$	12,196	$	11,297	$	—	$	11,297
Non-Government	11,198		77,687		88,885		5,494		39,230		44,724
	$	23,372	$	77,709	$	101,081	$	16,791	$	39,230	$	56,021
Segment Revenues	$	1,818,266	$	900,360	2,718,626		$	1,760,943	$	555,420	2,316,363
Eliminations					(3,812)						(3,780)
Revenues					$	2,714,814					$	2,312,583

Revenues by timing of transfer of goods or services were as follows:


	Three Months Ended September 30, 2026				Three Months Ended September 30, 2025
	Government Operations		Commercial Operations		Total		Government Operations		Commercial Operations		Total
	(In thousands)
Over time	$	631,375	$	260,688	$	892,063	$	612,212	$	221,315	$	833,527
Point-in-time	7,701		53,514		61,215		4,485		29,656		34,141
Segment Revenues	$	639,076	$	314,202	953,278		$	616,697	$	250,971	867,668
Eliminations					(306)						(1,382)
Revenues					$	952,972					$	866,286


	Nine Months Ended September 30, 2026				Nine Months Ended September 30, 2025
	Government Operations		Commercial Operations		Total		Government Operations		Commercial Operations		Total
	(In thousands)
Over time	$	1,797,004	$	780,081	$	2,577,085	$	1,749,201	$	477,622	$	2,226,823
Point-in-time	21,262		120,279		141,541		11,742		77,798		89,540
Segment Revenues	$	1,818,266	$	900,360	2,718,626		$	1,760,943	$	555,420	2,316,363
Eliminations					(3,812)						(3,780)
Revenues					$	2,714,814					$	2,312,583

Revenues by contract type were as follows:


	Three Months Ended September 30, 2026				Three Months Ended September 30, 2025
	Government Operations		Commercial Operations		Total		Government Operations		Commercial Operations		Total
	(In thousands)
Fixed-Price Incentive Fee	$	483,620	$	1,042	$	484,662	$	239,901	$	505	$	240,406
Firm-Fixed-Price	11,465		192,702		204,167		279,993		147,885		427,878
Cost-Plus Fee	143,497		9,827		153,324		96,706		2,159		98,865
Time-and-Materials	494		110,631		111,125		97		100,422		100,519
Segment Revenues	$	639,076	$	314,202	953,278		$	616,697	$	250,971	867,668
Eliminations					(306)						(1,382)
Revenues					$	952,972					$	866,286


	Nine Months Ended September 30, 2026				Nine Months Ended September 30, 2025
	Government Operations		Commercial Operations		Total		Government Operations		Commercial Operations		Total
	(In thousands)
Fixed-Price Incentive Fee	$	850,567	$	1,809	$	852,376	$	669,107	$	8,350	$	677,457
Firm-Fixed-Price	623,931		557,499		1,181,430		795,008		358,189		1,153,197
Cost-Plus Fee	342,746		20,573		363,319		296,602		2,006		298,608
Time-and-Materials	1,022		320,479		321,501		226		186,875		187,101
Segment Revenues	$	1,818,266	$	900,360	2,718,626		$	1,760,943	$	555,420	2,316,363
Eliminations					(3,812)						(3,780)
Revenues					$	2,714,814					$	2,312,583

Revenue, Performance Obligation, Impact of Changes in Estimates

The aggregate impact of changes in estimates increased our revenues and operating income as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2026		2025		2026		2025
	(In thousands)				(In thousands)
Revenues (1)	$	6,840	$	4,322	$	10,349	$	10,253
Operating Income (1)	$	3,639	$	3,061	$	4,949	$	9,107

(1)During the three and nine months ended September 30, 2026, no adjustments to any one contract had a material impact on our consolidated financial statements. During the three months ended September 30, 2025, no adjustments to any one contract had a material impact on our consolidated financial results. During the nine months ended September 30, 2025, our Government Operations segment results were favorably impacted by material contract adjustments related to a nuclear operations contract resulting in an increase in revenue and operating income of $29.4 million.

Schedule of Contract Assets and Liabilities


	September 30,		December 31,
	2026		2025
	(In thousands)
Included in Contracts in progress:
Unbilled receivables	$	714,269	$	594,749
Retainages	$	98,219	$	46,311
Advance billings on contracts	$	428,342	$	305,285