View Filing Data

Effect of foreign currency translation

Balance as of January 1

$ 715,644

$ 686,108

1,663

(2,574)

Balance as of December 31

719,934

715,644

The Future Customer

Goodwill resulting from business combinations

7,597

DMS Disaster Consultants

Goodwill resulting from business combinations

(50)

10,121

Vista Limited

Goodwill resulting from business combinations

(370)

$ 14,392

Olson

Goodwill resulting from business combination

^[1]

$ 3,047

[1]

Employee Benefit Plans

12 Months Ended

Dec. 31, 2019

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Employee Benefit Plans

NOTE 21 - EMPLOYEE BENEFIT PLANS

Retirement Savings Plan

Effective June 30, 1999, the Company established the ICF Consulting Group Retirement Savings Plan (the “Retirement Savings Plan”). The Retirement Savings Plan is a defined contribution profit sharing plan with a cash or deferred arrangement under Section 401(k) of the Internal Revenue Code. Participants in the Retirement Savings Plan are able to elect to defer up to 70% of their compensation, subject to statutory limitations, and are entitled to receive 100% employer matching contributions for the first 3% and 50% for the next 2% of their compensation. Contribution expense related to the Retirement Savings Plan for the years ended December 31, 2019, 2018, and 2017 was approximately $17.3 million, $16.2 million, and $15.1 million, respectively.

Deferred Compensation Plan

Certain key employees of the Company are eligible to defer a specified percentage of their cash compensation by having it contributed to a nonqualified deferred compensation plan. Eligible employees may elect to defer up to 80% of their base salary and up to 100% of performance bonuses, reduced by any amounts withheld for the payment of taxes or other deductions required by law. Participants are at all times 100% vested in their account balances. The Company funds its deferred compensation liabilities by making cash contributions to a Rabbi Trust at the time the salary or bonus being deferred would otherwise be payable to the employee. The liability to plan participants is materially funded at all times and the plan does not have a material net impact on the Company’s results of operations.

Employee Stock Purchase Plan

The Company has a 2006 Employee Stock Purchase Plan (“ESPP”) under which one million shares have been authorized for issuance. The ESPP allows eligible employees to purchase shares of the Company’s common stock through payroll deductions up to $25,000 per calendar year over six-month offering periods at a discount not to exceed 5% of the market value on the date of each purchase period. For the years ended December 31, 2019 and 2018, employees purchased a total of 23,636 and 22,320 shares at an average purchase price of $78.05 and $63.92, respectively. At December 31, 2019 and 2018, there were 678,870 and 702,506 shares remaining available for future issuance. The Company does not recognize compensation expense related to the ESPP.

Accounting for Stock-based Compensation - Summary of Performance Shares Activity (Details) - Performance Shares - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Number of Shares
Number of Shares, Non-vested Beginning Balance	169,486	187,022	129,974
Number of Shares, Granted	85,928	45,136	60,929	107,000
Number of Shares, Vested	(107,000)	(30,576)
Number of Shares, Cancelled		(32,096)	(3,881)
Number of Shares, Non-vested Ending Balance	148,414	169,486	187,022	129,974
Number of Shares, expected to vest in the future	89,525
Weighted-Average Grant Date Fair Value
Weighted-Average Grant Date Fair Value, Non-vested Beginning Balance	$ 45.15	$ 39.95	$ 40.57
Weighted-Average Grant Date Fair Value, Granted	62.07	65.05	38.81
Weighted-Average Grant Date Fair Value, Vested	37.21	44.21
Weighted-Average Grant Date Fair Value, Cancelled		43.72	42.83
Weighted-Average Grant Date Fair Value, Non-vested Ending Balance	60.67	$ 45.15	$ 39.95	$ 40.57
Weighted-Average Grant Date Fair Value, expected to vest in the future	$ 73.83
Aggregate Intrinsic Value
Aggregate Intrinsic Value, Non-vested	$ 13,597,691
Aggregate Intrinsic Value, expected to vest in the future	$ 8,202,281

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash Flows from Operating Activities
Net income	$ 68,938	$ 61,400	$ 62,876
Adjustments to reconcile net income to net cash provided by operating activities:
Bad debt expense	624	2,480	1,480
Deferred income taxes	(123)	5,100	(7,390)
Non-cash equity compensation	15,818	11,506	10,291
Depreciation and amortization	28,182	27,206	28,579
Deferred rent	(1,247)	523	(177)
Facilities consolidation reserve	(274)	(260)	1,479
Remeasurement of contingent acquisition liability		505
Amortization of debt issuance costs	507	510	673
Impairment of long-lived assets	1,728
Other adjustments, net	181	449	275
Changes in operating assets and liabilities, net of the effect of acquisitions:
Net contract assets and liabilities	(11,963)	(14,148)	405
Contract receivables	(31,300)	(60,096)	702
Prepaid expenses and other assets	1,997	(6,650)	(1,844)
Accounts payable	31,949	28,309	3,631
Accrued salaries and benefits	8,012	(2,159)	5,597
Accrued subcontractors and other direct costs	(12,293)	10,762	15,507
Accrued expenses and other current liabilities	(4,951)	11,120	(2,250)
Income tax receivable and payable	(4,489)	(2,063)	(5,697)
Other liabilities	144	176	3,054
Net Cash Provided by Operating Activities	91,440	74,670	117,191
Cash Flows from Investing Activities
Capital expenditures for property and equipment and capitalized software	(26,901)	(21,812)	(14,513)
Payments for business acquisitions, net of cash received	(3,569)	(34,575)	(91)
Net Cash Used in Investing Activities	(30,470)	(56,387)	(14,604)
Cash Flows from Financing Activities
Advances from working capital facilities	686,830	573,991	590,225
Payments on working capital facilities	(721,809)	(579,817)	(643,363)
Payments on capital expenditure obligations	(1,621)	(3,726)	(4,808)
Debt issue costs		(21)	(1,612)
Proceeds from exercise of options	2,914	5,842	4,722
Dividends paid	(10,540)	(7,915)
Net payments for stockholder issuances and buybacks	(23,414)	(17,125)	(32,464)
Net Cash Used in Financing Activities	(67,640)	(28,771)	(87,300)
Effect of Exchange Rate Changes on Cash, Cash Equivalents, and Restricted Cash	166	(792)	1,094
(Decrease) Increase in Cash, Cash Equivalents, and Restricted Cash	(6,504)	(11,280)	16,381
Cash, Cash Equivalents, and Restricted Cash, Beginning of Period	12,986	24,266	7,885
Cash, Cash Equivalents, and Restricted Cash, End of Period	6,482	12,986	24,266
Supplemental disclosure of cash flow information:
Interest	10,424	9,893	7,922
Income taxes	$ 26,595	14,870	$ 21,659
Non-cash investing and financing transactions:
Deferred and contingent consideration arising from businesses acquired		8,391
Capital expenditure obligations		$ 6,121

Revenue Recognition (Tables)

12 Months Ended

Dec. 31, 2019

Revenue From Contract With Customer [Abstract]

Disaggregation of Revenue

	Year ended December 31,
	2019		2018		2017
Client Markets:
Energy, environment, and infrastructure	$	665,185	$	564,736	$	487,001
Health, education, and social programs		552,600		535,578		518,675
Safety and security		120,078		111,660		102,645
Consumer and financial		140,662		125,999		120,841
Total	$	1,478,525	$	1,337,973	$	1,229,162

	Year ended December 31,
	2019		2018		2017
Client Type:
U.S. federal government	$	561,022	$	546,050	$	550,794
U.S. state and local government		280,357		183,900		127,797
International government		122,307		122,186		91,318
Total Government		963,686		852,136		769,909
Commercial		514,839		485,837		459,253
Total	$	1,478,525	$	1,337,973	$	1,229,162

	Year ended December 31,
	2019		2018		2017
Contract Mix:
Time-and-materials	$	703,467	$	581,446	$	529,606
Fixed-price		562,985		526,751		480,584
Cost-based		212,073		229,776		218,972
Total	$	1,478,525	$	1,337,973	$	1,229,162

Schedule of Contract Balances and Changes in Contract Balances

Contract Balances:

	December 31, 2019			December 31, 2018			Change
Contract assets	$	142,337		$	126,688		$	15,649
Contract liabilities		(37,413	)		(33,494	)		(3,919	)
Net contract assets (liabilities)	$	104,924		$	93,194		$	11,730

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Schedule of Impact to Consolidated Balance Sheets Before and After the Adoption

	January 1, 2019
	Before Adoption		Adoption Adjustments			After Adoption
Operating lease - right-of-use assets	$	—	$	137,152		$	137,152
Operating lease liabilities - current		—		30,951			30,951
Accrued expenses and other current liabilities		1,843		(1,843	)		—
Operating lease liabilities - non-current		—		121,982			121,982
Deferred rent		13,938		(13,938	)		—

Subsequent Events - Additional Information (Details) - USD ($)

Feb. 27, 2020

Feb. 20, 2020

Jan. 13, 2020

Aug. 08, 2018

Aug. 31, 2017

Sep. 30, 2016

^[1]

Jan. 31, 2020

Interest Rate Swap | Cash Flow Hedging | Designated as Hedging Instrument

Aggregate notional amount

$ 50,000,000.0

$ 25,000,000.0

$ 100,000,000.0

Derivative, fixed interest rate

2.854%

1.8475%

Beginning dates of effected cash flows

Aug. 31, 2018

Jan. 31, 2018

Ending dates of effected cash flows

Aug. 31, 2023

Jan. 31, 2023

Subsequent Event

Dividend declaration date

Feb. 27, 2020

Cash dividend per share

$ 0.14

Dividend payment date

Apr. 13, 2020

Dividend record date

Mar. 27, 2020

Subsequent Event | Interest Rate Swap | Cash Flow Hedging | Designated as Hedging Instrument

Aggregate notional amount

$ 100,000,000.0

Derivative, fixed interest rate

1.294%

Beginning dates of effected cash flows

Feb. 28, 2020

Ending dates of effected cash flows

Feb. 28, 2025

Subsequent Event | ITG

Acquire of membership interests

100.00%

Purchase price

$ 255,000,000.0

Hold back purchase price for post-closing and working capital adjustments

$ 2,000,000.0

Purchase price of escrow account for indemnification claims

$ 900,000

[1]

Accumulated Other Comprehensive Loss - Components of Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Accumulated Other Comprehensive Income Loss [Line Items]

Current period other comprehensive income (loss):

$ 660,417

$ 616,030

$ 566,004

Total current period other comprehensive income (loss)

407

(6,683)

4,601

Foreign Currency Translation Adjustments

714,551

660,417

616,030

Accumulated Other Comprehensive Income Loss [Line Items]

Reclassification of stranded tax effects due to adoption of accounting principle

(14,168)

(7,638)

(11,815)

^[1]

(1,307)

Current period other comprehensive income (loss):

(8,945)

Other comprehensive income before reclassifications

2,338

(4,711)

6,476

Total current period other comprehensive income (loss)

^[2]

835

(512)

(2,299)

3,173

(5,223)

4,177

Gain on Sale of Interest Rate Hedge Agreement

(10,995)

(14,168)

(7,638)

Accumulated Other Comprehensive Income Loss [Line Items]

Reclassification of stranded tax effects due to adoption of accounting principle

^[3]

2,164

2,158

2,175

^[1],[3]

478

Current period other comprehensive income (loss):

^[3]

2,636

Amounts reclassified from accumulated other comprehensive income

^[3]

(720)

(660)

Total current period other comprehensive income (loss)

^[2],[3]

190

188

(17)

^[3]

(530)

(472)

(17)

Changes in Fair Value of Interest Rate Hedge Agreements

^[3]

1,634

2,164

2,158

Accumulated Other Comprehensive Income Loss [Line Items]

^[4],[5]

(547)

441

Current period other comprehensive income (loss):

^[4],[5]

441

Other comprehensive income before reclassifications

^[4],[5]

(3,362)

(1,184)

441

Amounts reclassified from accumulated other comprehensive income

^[4],[5]

333

(12)

Total current period other comprehensive income (loss)

^[2],[4],[5]

793

208

^[4],[5]

(2,236)

(988)

441

Accumulated Other Comprehensive Loss

^[4],[5]

(2,783)

(547)

441

Accumulated Other Comprehensive Income Loss [Line Items]

Reclassification of stranded tax effects due to adoption of accounting principle

(12,551)

(5,039)

(9,640)

^[1]

(829)

Current period other comprehensive income (loss):

(5,868)

Other comprehensive income before reclassifications

(1,024)

(5,895)

6,917

Amounts reclassified from accumulated other comprehensive income

(387)

(672)

Total current period other comprehensive income (loss)

^[2]

1,818

(116)

(2,316)

407

(6,683)

4,601