0000950170-23-020004 | 10-Q | XBRL Viewer

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Document And Entity Information - shares	3 Months Ended
Document And Entity Information - shares	Mar. 31, 2023	Apr. 28, 2023
Cover [Abstract]
Entity Registrant Name	ICF International, Inc.
Entity Central Index Key	0001362004
Trading Symbol	ICFI
Security Exchange Name	NASDAQ
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		18,788,082
Document Type	10-Q
Document Period End Date	Mar. 31, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity File Number	001-33045
Entity Tax Identification Number	22-3661438
Entity Incorporation State Country Code	DE
Entity Address, Address Line One	1902 Reston Metro Plaza
Entity Address, City or Town	Reston
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	20190
City Area Code	703
Local Phone Number	934-3000
Title of each class	Common Stock
Entity Interactive Data Current	Yes
Document Quarterly Report	true
Document Transition Report	false

CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current Assets:
Cash and cash equivalents	$ 5,364	$ 11,257
Restricted cash	3,572	1,711
Contract receivables, net	221,066	232,337
Contract assets	188,093	169,088
Prepaid expenses and other assets	28,341	40,709
Income tax receivable	8,420	11,616
Total Current Assets	454,856	466,718
Property and Equipment, net	85,445	85,402
Other Assets:
Goodwill	1,213,908	1,212,898
Other intangible assets, net	116,430	126,537
Operating lease - right-of-use assets	150,511	149,066
Other assets	51,280	51,637
Total Assets	2,072,430	2,092,258
Current Liabilities:
Current portion of long-term debt	26,000	23,250
Accounts payable	109,854	135,778
Contract liabilities	25,771	25,773
Operating lease liabilities - current	16,124	19,305
Finance lease liabilities - current	2,400	2,381
Accrued salaries and benefits	61,428	85,991
Accrued subcontractors and other direct costs	43,109	45,478
Accrued expenses and other current liabilities	67,089	78,036
Total Current Liabilities	351,775	415,992
Long-term Liabilities:
Long-term debt	571,979	533,084
Operating lease liabilities - non-current	189,331	182,251
Finance lease liabilities - non-current	15,508	16,116
Deferred income taxes	69,343	68,038
Other long-term liabilities	27,805	23,566
Total Liabilities	1,225,741	1,239,047
Commitments and Contingencies (Note 17)
Stockholders’ Equity:
Preferred stock, par value $.001; 5,000,000 shares authorized; none issued
Common stock, par value $.001; 70,000,000 shares authorized; 23,919,338 and 23,771,596 shares issued at March 31, 2023 and December 31, 2022, respectively; 18,788,082 and 18,883,050 shares outstanding at March 31, 2023 and December 31, 2022, respectively	24	23
Additional paid-in capital	405,818	401,957
Retained earnings	716,795	703,030
Treasury stock, 5,131,256 and 4,906,209 shares at March 31, 2023 and December 31, 2022 respectively	(266,481)	(243,666)
Accumulated other comprehensive loss	(9,467)	(8,133)
Total Stockholders’ Equity	846,689	853,211
Total Liabilities and Stockholders’ Equity	$ 2,072,430	$ 2,092,258

CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares	Mar. 31, 2023	Dec. 31, 2022
Statement Of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized (in shares)	70,000,000	70,000,000
Common stock, issued (in shares)	23,919,338	23,771,596
Common stock, outstanding (in shares)	18,788,082	18,883,050
Treasury stock, shares (in shares)	5,131,256	4,906,209

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
Revenue	$ 483,282	$ 413,468
Direct costs	312,565	258,158
Operating costs and expenses:
Indirect and selling expenses	123,733	117,452
Depreciation and amortization	6,309	4,838
Amortization of intangible assets	9,224	5,317
Total operating costs and expenses	139,266	127,607
Operating income	31,451	27,703
Interest, net	(9,457)	(2,627)
Other expense	(558)	(439)
Income before income taxes	21,436	24,637
Provision for income taxes	5,038	6,775
Net income	$ 16,398	$ 17,862
Earnings per Share:
Basic	$ 0.87	$ 0.95
Diluted	$ 0.87	$ 0.94
Weighted-average Shares:
Basic	18,779	18,795
Diluted	18,949	19,012
Cash dividends declared per common share	$ 0.14	$ 0.14
Other comprehensive (loss) income, net of tax	$ (1,334)	$ 2,659
Comprehensive income, net of tax	$ 15,064	$ 20,521

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash Flows from Operating Activities
Net income	$ 16,398	$ 17,862
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	567	(170)
Deferred income taxes	2,187	4,505
Non-cash equity compensation	3,750	3,563
Depreciation and amortization	15,533	10,154
Facilities consolidation reserve		(78)
Amortization of debt issuance costs	326	154
Impairment of long-lived assets	894
Other adjustments, net	(827)	353
Changes in operating assets and liabilities, net of the effects of acquisitions:
Net contract assets and liabilities	(18,716)	(59,689)
Contract receivables	10,929	31,473
Prepaid expenses and other assets	15,353	(11,708)
Operating lease assets and liabilities, net	1,016	(532)
Accounts payable	(26,083)	(9,815)
Accrued salaries and benefits	(24,678)	9,513
Accrued subcontractors and other direct costs	(2,613)	1,078
Accrued expenses and other current liabilities	(14,688)	(6,883)
Income tax receivable and payable	3,192	2,621
Other liabilities	629	544
Net Cash Used in Operating Activities	(16,831)	(7,055)
Cash Flows from Investing Activities
Capital expenditures for property and equipment and capitalized software	(6,441)	(6,454)
Payments for business acquisitions, net of cash acquired	(459)
Net Cash Used in Investing Activities	(6,900)	(6,454)
Cash Flows from Financing Activities
Advances from working capital facilities	334,995	329,690
Payments on working capital facilities	(293,640)	(291,662)
Other short-term borrowings	2,483
Receipt of restricted contract funds	2,916	4,301
Payment of restricted contract funds	(1,131)	(14,714)
Payments of principal portion of finance leases	(590)
Proceeds from exercise of options	111	92
Dividends paid	(2,641)	(2,644)
Net payments for stock issuances and buybacks	(22,815)	(22,268)
Payments on business acquisition liabilities		(121)
Net Cash Provided by Financing Activities	19,688	2,674
Effect of Exchange Rate Changes on Cash, Cash Equivalents, and Restricted Cash	11	(525)
Decrease in Cash, Cash Equivalents, and Restricted Cash	(4,032)	(11,360)
Cash, Cash Equivalents, and Restricted Cash, Beginning of Period	12,968	20,433
Cash, Cash Equivalents, and Restricted Cash, End of Period	8,936	9,073
Supplemental Disclosure of Cash Flow Information
Interest	5,924	2,760
Income taxes	$ 914	949
Non-cash investing and financing transactions:
Tenant improvements funded by lessor		$ 10,843

Basis of Presentation and Nature of Operations

3 Months Ended

Mar. 31, 2023

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Basis of Presentation and Nature of Operations

NOTE 1 – BASIS OF PRESENTATION AND NATURE OF OPERATIONS

Basis of Presentation

The accompanying consolidated financial statements include the accounts of ICF International, Inc. (“ICFI”) and its principal subsidiary, ICF Consulting Group, Inc. (“Consulting,” and together with ICFI, the “Company”), and have been prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“U.S. GAAP”). Consulting is a wholly owned subsidiary of ICFI. ICFI is a holding company with no operations or assets other than its investment in the common stock of Consulting. All other subsidiaries of the Company are wholly owned by Consulting. Material intercompany transactions and balances have been eliminated.

Nature of Operations

The Company provides professional services and technology-based solutions, including management, marketing, technology, and policy consulting and implementation services, in the areas of energy, environment, infrastructure and disaster recovery; health and social programs; and security and other civilian/commercial. The Company offers a full range of services to clients throughout the entire life cycle of a policy, program, project, or initiative, from research and analysis, assessment, and advice to design and implementation of programs and technology-based solutions, and the provision of engagement services and programs.

The Company’s major customers are U.S. federal government departments and agencies. The Company also serves U.S. state (including territories) and local government departments and agencies, international governments, and commercial clients worldwide. Commercial clients include airlines, airports, electric and gas utilities, health care companies, banks and other financial services companies, transportation, travel and hospitality firms, non-profit associations, manufacturing firms, retail chains, and distribution companies. The term “federal” or “federal government” refers to the U.S. federal government, and “state and local” or “state and local government” refers to U.S. state (including territories) and local governments, unless otherwise indicated.

The Company, incorporated in Delaware, is headquartered in Reston, Virginia. The Company maintains additional offices throughout the world, including more than 50 offices in the U.S. and U.S. territories and more than 20 offices in key markets outside the U.S., including offices in the United Kingdom, Belgium, India, and Canada.

Use of Estimates

The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the consolidated financial statements, and the reported amounts of revenue and expenses during the reporting periods. Areas of the consolidated financial statements where estimates may have the most significant effect include contractual and regulatory reserves, valuation and lives of tangible and intangible assets, impairment of goodwill and long-lived assets, accrued liabilities, revenue recognition (including estimates of variable considerations in determining the total contract price and allocation of performance obligations), the remaining costs to complete fixed-price contracts, bonus and other incentive compensation, stock-based compensation, reserves for tax benefits and valuation allowances on deferred tax assets, provisions for income taxes, collectability of receivables, and loss accruals for litigation. Actual results experienced by the Company may differ from management's estimates.

Interim Results

The unaudited consolidated financial statements included in this Quarterly Report on Form 10-Q have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). These rules and regulations permit some of the information and footnote disclosures normally included in financial statements, prepared in accordance with U.S. GAAP, to be condensed or omitted. In management’s opinion, the unaudited consolidated financial statements contain all adjustments that are of a normal recurring nature, necessary for a fair presentation of the results of operations and financial position of the Company for the interim periods presented. The Company reports operating results and financial data in one operating segment and reporting unit. Operating results for the three months periods ended March 31, 2023 and 2022 are not necessarily indicative of the results that may be expected for the full year. These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements for the fiscal year ended December 31, 2022 and the notes thereto included in the Company’s Annual Report on Form 10-K, filed with the SEC on March 1, 2023.

Recent Accounting Pronouncements

Recent Accounting Pronouncements Not Yet Adopted

Reference Rate Reform

In March 2020, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2020-04, Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The standard is intended to provide temporary optional expedients and exceptions to the U.S. GAAP guidance on contract modifications and hedge accounting to ease accounting and financial reporting burdens related to the expected market transition from the London Interbank Offered Rate (“LIBOR”) and other interbank offered rates to alternative reference rates. The provisions of this ASU are elective and apply to all entities, subject to meeting certain criteria, that have debt or hedging contracts, among other contracts, that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. Entities can elect to not apply certain modification accounting requirements to contracts affected by reference rate reform if certain criteria are met. Also, entities can elect various optional expedients that would allow it to continue to apply hedge accounting for hedging relationships affected by reference rate reform if certain criteria are met. This guidance was effective beginning on March 12, 2020 and entities may elect to apply the amendments prospectively through December 31, 2022, the sunset date. In December 2022, the FASB issued ASU 2022-06 Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848 that extended the sunset date from December 31, 2022 to December 31, 2024.

As of March 31, 2023, the Company has one interest rate swap contract with a variable interest rate that references LIBOR. The contract expires on August 31, 2023.

Reclassification

Certain immaterial amounts in the consolidated statements of comprehensive income have been reclassified to conform to the current year’s presentation. To be consistent with the current presentation of interest, net, the Company reclassified $0.1 million in interest income for the three months ended March 31, 2022 from “Other expense” to “Interest, net”.

Restricted Cash

3 Months Ended

Mar. 31, 2023

Cash And Cash Equivalents [Abstract]

Restricted Cash

NOTE 2 – RESTRICTED CASH

The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the consolidated balance sheets for the periods presented to the total of cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows for the three months ended March 31, 2023 and 2022:


	March 31, 2023				March 31, 2022
	Beginning		Ending		Beginning		Ending
Cash and cash equivalents	$	11,257	$	5,364	$	8,254	$	7,392
Restricted cash		1,711		3,572		12,179		1,681
Total of cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows	$	12,968	$	8,936	$	20,433	$	9,073

Contract Receivables, Net

3 Months Ended

Mar. 31, 2023

Receivables [Abstract]

Contract Receivables, Net

NOTE 3 – CONTRACT RECEIVABLES, NET

Contract receivables, net consisted of the following:


	March 31, 2023			December 31, 2022
Billed and billable	$	227,589		$	238,449
Allowance for expected credit losses		(6,523	)		(6,112	)
Contract receivables, net	$	221,066		$	232,337

On December 23, 2022, the Company entered into a Master Receivables Purchase Agreement (the “MRPA”) with MUFG Bank, Ltd. (“MUFG”) for the sale from time to time of certain eligible billed receivables. The purchase price of each receivable is equal to the net invoice amount minus a specified discount. The receivables are sold without recourse and the Company does not retain any ongoing financial interest in the transferred receivables other than providing servicing activities. The Company accounts for the transfers as sales under ASC 860, Transfers and Servicing, derecognizes the receivables from its consolidated balance sheets at the date of the sale, and includes the cash received from MUFG as part of cash flows from operating activities on its consolidated statement of cash flows.

During the three months ended March 31, 2023, the Company sold $28.6 million in billed receivables to MUFG. At March 31, 2023 and December 31, 2022, the Company had $13.2 million and $6.2 million, respectively, in cash collections from previously sold invoices to be remitted to MUFG which is included as part of “accrued expenses and other current liabilities” on the consolidated balance sheets.

Leases

3 Months Ended

Mar. 31, 2023

Leases [Abstract]

Leases

NOTE 4 – LEASES

The Company has operating and finance leases for facilities and equipment which have remaining terms ranging from 1 to 16 years. The leases may include options to extend the lease periods for up to 5 years at rates approximating market rates and/or options to terminate the leases within 1 year. The leases may include a residual value guarantee or a responsibility to return the property to its original state of use. A limited number of leases contain provisions that provide for rental increases based on consumer price indices. The change in lease cost resulting from changes in these indices is included within variable lease cost.

The Company’s lease cost is recognized on a straight-line basis over the lease term. Lease cost consists of the following:


	Three Months Ended
	March 31, 2023			March 31, 2022
Operating lease cost	$	6,489		$	9,502
Finance lease cost - amortization of right-of-use assets		494			—
Finance lease cost - interest		152			—
Short-term lease cost		149			133
Variable lease cost		55			20
Sublease income		(28	)		(10	)
Total lease cost	$	7,311		$	9,645

Future minimum lease payments under non-cancellable operating and finance leases as of March 31, 2023 were as follows:


	Operating			Finance
March 31, 2024	$	18,582		$	2,967
March 31, 2025		28,674			2,967
March 31, 2026		26,939			2,967
March 31, 2027		23,322			2,967
March 31, 2028		17,024			2,967
Thereafter		139,443			5,192
Total future minimum lease payments		253,984			20,027
Less: Interest		(48,529	)		(2,119	)
Total lease liabilities	$	205,455		$	17,908

Other information related to operating and finance leases is as follows:


	March 31, 2023			March 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows for operating leases	$	4,982		$	10,110
Operating cash outflows for finance leases		152			—
Financing cash outflows for finance leases		590			—
Right-of-use assets obtained in exchange for operating lease liabilities	$	8,900		$	2,952
Weighted-average remaining lease term
Operating leases		11.6			11.5
Finance leases		6.8			—
Weighted-average discount rate
Operating leases		3.5	%		3.2	%
Finance leases		3.4	%		—

Accrued Expenses and Other Current Liabilities

3 Months Ended

Mar. 31, 2023

Payables And Accruals [Abstract]

Accrued Expenses and Other Current Liabilities

NOTE 5 – ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

At March 31, 2023 and December 31, 2022, accrued expenses and other current liabilities consisted of the following:


	March 31, 2023		December 31, 2022
Deposits	$	22,792	$	32,384
Restricted contract funds		3,562		1,701
IT and software licensing costs		1,285		1,609
Taxes and insurance premiums		4,834		6,633
Facilities rental and lease exit costs		1,846		2,043
Interest		3,661		363
Professional services		2,958		3,617
Dividends		2,623		2,631
Cash collected not yet remitted to purchaser of billed receivables		13,225		6,164
Other accrued expenses and current liabilities		10,303		20,891
Total accrued expenses and other current liabilities	$	67,089	$	78,036

Long-Term Debt

3 Months Ended

Mar. 31, 2023

Debt Disclosure [Abstract]

Long-Term Debt

NOTE 6 – LONG-TERM DEBT

At March 31, 2023 and December 31, 2022, long-term debt consisted of:


	March 31, 2023				December 31, 2022
	Average Interest Rate	Outstanding Balance			Average Interest Rate	Outstanding Balance
Term Loan		$	285,000			$	288,750
Delayed-Draw Term Loan			220,000				220,000
Revolving Credit			97,721				52,616
Total before debt issuance costs	6.3%		602,721		3.3%		561,366
Unamortized debt issuance costs			(4,742	)			(5,032	)
Total		$	597,979			$	556,334

As of March 31, 2023, the Company had unused delayed draw term loan facility $180.0 million (available through May 6, 2023, with an additional six-month extension upon request by the Company) and unused borrowing capacity under the $600.0 million revolving line of credit of $499.6 million under the Credit Facility. The unused borrowing capacity is inclusive of outstanding letters of credit totaling $2.7 million. Considering the financial, performance-based limitations, available borrowing capacity was $403.5 million as of March 31, 2023. The average interest rate on borrowings under the Credit Facility was 6.3% for the three-months period ended March 31, 2023 and 3.3% for the twelve-months period ended December 31, 2022. Inclusive of the impact of floating-to-fixed interest rate swaps (see “Note 8 — Derivative Instruments and Hedging Activities”), the average interest rate was 5.5% for the three-months period ended March 31, 2023 and 3.7% for the twelve-months period ended December 31, 2022.

Future scheduled repayments of debt principal are as follows:


Payments due by	Term Loan		Delayed-Draw Term Loan		Revolving Credit		Total
March 31, 2024	$	15,000	$	11,000	$	—	$	26,000
March 31, 2025		15,000		11,000		—		26,000
March 31, 2026		22,500		16,500		—		39,000
March 31, 2027		22,500		16,500		—		39,000
May 6, 2027 (Maturity)		210,000		165,000		97,721		472,721
Total	$	285,000	$	220,000	$	97,721	$	602,721

Revenue Recognition

3 Months Ended

Mar. 31, 2023

Revenue From Contract With Customer [Abstract]

Revenue Recognition

NOTE 7 – REVENUE RECOGNITION

Disaggregation of Revenue

The Company disaggregates revenue from clients, most of which is earned over time, into categories that depict how the nature, amount and uncertainty of revenue and cash flows are affected by economic and business factors. Those categories are client market, client type, and contract mix. Client markets provide insight into the breadth of the Company’s expertise. In classifying revenue by client market, the Company attributes revenue from a client to the market that the Company believes is the client’s primary market. The Company also classifies revenue by the type of entity for which it does business, which is an indicator of the diversity of its client base. The Company attributes revenue generated as a subcontractor to a commercial company as government revenue when the ultimate client is a government agency or department. Disaggregation by contract mix provides insight in terms of the degree of performance risk that the Company has assumed. Fixed-price contracts are considered to provide the highest amount of performance risk as the Company is required to deliver a scope of work or level of effort for a negotiated fixed price. Time-and-materials contracts require the Company to provide skilled employees on contracts for negotiated fixed hourly rates. Since the Company is not required to deliver a scope of work, but merely skilled employees, it considers these contracts to be less risky than a fixed-price agreement. Cost-based contracts are considered to provide the lowest amount of performance risk since the Company is generally reimbursed for all contract costs incurred in performance of contract deliverables with only the amount of incentive or award fees (if applicable) dependent on the achievement of negotiated performance requirements.


	Three Months Ended March 31,
	2023					2022
	Dollars		Percent			Dollars		Percent
Client Markets:
Energy, environment, infrastructure, and disaster recovery	$	187,396		39	%	$	169,028		41	%
Health and social programs		203,698		42	%		156,057		38	%
Security and other civilian & commercial		92,188		19	%		88,383		21	%
Total	$	483,282		100	%	$	413,468		100	%


	Three Months Ended March 31,
	2023					2022
	Dollars		Percent			Dollars		Percent
Client Type:
U.S. federal government	$	267,742		55	%	$	219,044		53	%
U.S. state and local government		74,933		16	%		66,117		16	%
International government		20,669		4	%		27,377		7	%
Total Government		363,344		75	%		312,538		76	%
Commercial		119,938		25	%		100,930		24	%
Total	$	483,282		100	%	$	413,468		100	%


	Three Months Ended March 31,
	2023					2022
	Dollars		Percent			Dollars		Percent
Contract Mix:
Time-and-materials	$	200,990		42	%	$	164,968		40	%
Fixed price		219,016		45	%		184,012		44	%
Cost-based		63,276		13	%		64,488		16	%
Total	$	483,282		100	%	$	413,468		100	%

Contract Balances:

Contract assets consist primarily of unbilled amounts resulting from long-term contracts when revenue recognized exceeds the amount billed often due to billing schedule timing. Contract liabilities result from advance payments received on a contract or from billings in excess of revenue recognized on long-term contracts due to billing schedule timing.

The following table summarizes the contract balances as of March 31, 2023 and December 31, 2022:


	March 31, 2023			December 31, 2022
Contract assets	$	188,093		$	169,088
Contract liabilities		(25,771	)		(25,773	)
Net contract assets (liabilities)	$	162,322		$	143,315

The net contract assets (liabilities) as of March 31, 2023 increased by $19.0 million as compared to December 31, 2022. The increase in net contract assets (liabilities) is primarily due to the timing difference between the performance of services and billings to and payments from customers. There were no material changes to contract balances due to impairments or credit losses during the period. During the three months ended March 31, 2023 and 2022, the Company recognized $14.2 million and $20.9 million in revenue related to the contract liabilities balance at December 31, 2022 and 2021, respectively.

Performance Obligations:

The Company had $1.4 billion in unfulfilled performance obligations as of March 31, 2023 which primarily reflects the future delivery of services for which revenue will be recognized over time. The obligations relate to continued or additional services required on contracts, including those that are either non-cancellable or have substantive termination penalties, and were generally valued using an estimated cost-plus margin approach, with variable consideration being estimated at the most likely amount. The amounts exclude marketing offers, which are negotiated but unexercised contract options and indefinite delivery/indefinite quantity (IDIQ) and similar arrangements that provided a framework for customers to issue specific tasks, delivery, or purchase orders in the future. The Company expects to satisfy these performance obligations in approximately two years.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI https://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045

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-Name Accounting Standards Codification
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-Paragraph 12
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+ Details

Derivative Instruments and Hedging Activities

3 Months Ended

Mar. 31, 2023

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities

NOTE 8 – DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

The Company uses interest rate swap agreements to manage or hedge its interest rate risk under the Credit Facility. Notwithstanding the terms of the swaps, the Company is ultimately obligated for all amounts due and payable under the Credit Facility. The derivative instruments are recorded on the consolidated balance sheets at fair value. Unrealized gains and losses on derivatives designated as cash flow hedges are reported in other comprehensive income (loss) and reclassified to earnings in a manner that matches the timing of the earnings impact of the hedged transactions. Management intends that the Swaps remain effective and, on a quarterly basis, evaluates them to determine their effectiveness or ineffectiveness and records the change in fair value as an adjustment to other comprehensive income or loss. The Company does not use derivative instruments for speculative or trading purposes.

At March 31, 2023, the Company had floating-to-fixed interest rate swaps (the “Swaps”) for an aggregate notional amount of $275.0 million, of which $100.0 million will mature on August 31, 2023, $100.0 million will mature on February 28, 2025, and $75.0 million will mature on February 28, 2028. The Company designated the Swaps as cash flow hedges.

Income Taxes

3 Months Ended

Mar. 31, 2023

Income Tax Disclosure [Abstract]

Income Taxes

NOTE 9 – INCOME TAXES

The Company’s effective tax rate for the three months ended March 31, 2023 and 2022 was 23.5% and 27.5%, respectively.

The Company is subject to federal income tax as well as taxes in various state, local and foreign jurisdictions. Tax statutes and regulations within each jurisdiction are subject to interpretation and require the application of significant judgment. The Company’s 2019 through 2021 tax years remain subject to examination by the Internal Revenue Service for federal tax purposes. Certain significant state, local and foreign tax returns also remain open under the applicable statute of limitations and, as such, are subject to examination for the tax years from 2018 to 2021.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Accumulated Other Comprehensive Loss

3 Months Ended

Mar. 31, 2023

Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]

Accumulated Other Comprehensive Loss

NOTE 10 – ACCUMULATED OTHER COMPREHENSIVE LOSS

Accumulated other comprehensive loss as of March 31, 2023 and 2022 included the following:


	Three Months Ended March 31, 2023
	Foreign Currency Translation Adjustments			Gain on Sale of Interest Rate Hedge Agreement (1)			Change in Fair Value of Interest Rate Hedge Agreements (2)			Total
Accumulated other comprehensive (loss) income at December 31, 2022	$	(14,056	)	$	41		$	5,882		$	(8,133	)
Current period other comprehensive (loss) income:
Other comprehensive (loss) income before reclassifications		1,753			—			(2,532	)		(779	)
Amounts reclassified from accumulated other comprehensive (loss) income (3)		—			(60	)		(1,360	)		(1,420	)
Effect of taxes (4)		(192	)		19			1,038			865
Total current period other comprehensive (loss) income		1,561			(41	)		(2,854	)		(1,334	)
Accumulated other comprehensive (loss) income at March 31, 2023	$	(12,495	)	$	—		$	3,028		$	(9,467	)


	Three Months Ended March 31, 2022
	Foreign Currency Translation Adjustments			Gain on Sale of Interest Rate Hedge Agreement (1)			Change in Fair Value of Interest Rate Hedge Agreement (2)			Total
Accumulated other comprehensive (loss) income at December 31, 2021	$	(8,759	)	$	569		$	(2,845	)	$	(11,035	)
Current period other comprehensive (loss) income:
Other comprehensive (loss) income before reclassifications		(2,304	)		—			5,509			3,205
Amounts reclassified from accumulated other comprehensive (loss) income (3)		—			(180	)		902			722
Effect of taxes (4)		363			48			(1,679	)		(1,268	)
Total current period other comprehensive (loss) income		(1,941	)		(132	)		4,732			2,659
Accumulated other comprehensive (loss) income at March 31, 2022	$	(10,700	)	$	437		$	1,887		$	(8,376	)

(1)

Represents the unamortized value of an interest rate hedge agreement, designated as a cash flow hedge, which was sold on December 1, 2016. The fair value of the interest rate hedge agreement, at the date of the sale, was recorded in other comprehensive income, net of tax, and is being reclassified to interest expense when earnings are impacted by the hedged items and as interest payments are made on the Credit Facility from January 31, 2018 to January 31, 2023.

(2)

Represents the change in fair value of interest rate hedge agreements designated as cash flow hedges. The fair value of the interest rate hedge agreements was recorded in other comprehensive income, net of tax, and will be reclassified to earnings when earnings are impacted by the hedged items, as interest payments are made on the Credit Facility from August 31, 2018 to February 28, 2025 (see “Note 8 — Derivative Instruments and Hedging Activities”).

(3)

The Company expects to reclassify $4.8 million of net gains related to the Change in Fair Value of Interest Rate Hedge Agreement from accumulated other comprehensive loss into earnings during the next 12 months.

(4)

The Company’s effective tax rate for the three months ended March 31, 2023 and 2022 was 23.5% and 27.5%, respectively.

Stockholders' Equity

3 Months Ended

Mar. 31, 2023

Stockholders Equity Note [Abstract]

Stockholders' Equity

NOTE 11 – STOCKHOLDERS’ EQUITY

Changes in stockholders’ equity for the three months ended March 31, 2023 and 2022 are as follows:


	Three Months Ended March 31, 2023
	Common Stock					Additional Paid-in		Retained			Treasury Stock					Accumulated Other Comprehensive
	Shares			Amount		Capital		Earnings			Shares		Amount			Loss			Total
Balance at December 31, 2022		18,883		$	23	$	401,957	$	703,030			4,906	$	(243,666	)	$	(8,133	)	$	853,211
Net income		—			—		—		16,398			—		—			—			16,398
Other comprehensive loss		—			—		—		—			—		—			(1,334	)		(1,334	)
Equity compensation		—			—		3,750		—			—		—			—			3,750
Exercise of stock options		4			—		111		—			—		—			—			111
Issuance of shares pursuant to vesting of restricted stock units		126			1		—		—			—		—			—			1
Payments for stock buybacks		(225	)		—		—		—			225		(22,815	)		—			(22,815	)
Dividends declared		—			—		—		(2,633	)		—		—			—			(2,633	)
Balance at March 31, 2023		18,788		$	24	$	405,818	$	716,795			5,131	$	(266,481	)	$	(9,467	)	$	846,689


	Three Months Ended March 31, 2022
	Common Stock					Additional Paid-in		Retained			Treasury Stock					Accumulated Other Comprehensive
	Shares			Amount		Capital		Earnings			Shares		Amount			Loss			Total
Balance at December 31, 2021		18,876		$	23	$	384,984	$	649,298			4,659	$	(219,800	)	$	(11,035	)	$	803,470
Net income		—			—		—		17,862			—		—			—			17,862
Other comprehensive income		—			—		—		—			—		—			2,659			2,659
Equity compensation		—			—		3,563		—			—		—			—			3,563
Exercise of stock options		4			—		92		—			—		—			—			92
Issuance of shares pursuant to vesting of restricted stock units		140			—		—		—			—		—			—			—
Payments for stock buybacks		(227	)		—		—		—			227		(21,716	)		—			(21,716	)
Dividends declared		—			—		—		(2,628	)		—		—			—			(2,628	)
Balance at March 31, 2022		18,793		$	23	$	388,639	$	664,532			4,886	$	(241,516	)	$	(8,376	)	$	803,302

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 505
-URI https://asc.fasb.org/topic&trid=2208762

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-Name Accounting Standards Codification
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+ Details

Accounting for Stock-based Compensation

3 Months Ended

Mar. 31, 2023

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Accounting for Stock-based Compensation

NOTE 12 – ACCOUNTING FOR STOCK-BASED COMPENSATION

On April 4, 2018, the Company’s board of directors (the “board”) approved the 2018 Omnibus Incentive Plan (the “2018 Omnibus Plan”), which was subsequently approved by the Company’s stockholders and became effective on May 31, 2018 (the “Effective Date”). The 2018 Omnibus Plan replaced the previous 2010 Omnibus Incentive Plan (the “Prior Plan”). The 2018 Omnibus Plan was amended on May 28, 2020 to increase the number of shares available for issuance.

The 2018 Omnibus Plan, as amended, allows the Company to grant 1,600,000 shares using stock options, stock appreciation rights, restricted stock, restricted stock units (“RSUs”), performance units and performance share awards (“PSAs”), cash-settled restricted stock units (“CSRSUs”), and other stock-based awards to all officers, key employees, and non-employee directors of the Company. Outstanding shares granted under the Prior Plan, totaling 6,747 as of March 31, 2023, remain subject to its terms and conditions, and no additional awards from the Prior Plan are to be made after the Effective Date. As of March 31, 2023, the Company had approximately 670,133 shares available for grant under the 2018 Omnibus Plan. CSRSUs have no impact on the shares available for grant under the Omnibus Plan, nor on the calculated shares used in earnings per share calculations.

During the three months ended March 31, 2023, the Company granted to its employees 76,498 shares in the form of RSUs with an average grant date fair value of $107.28, and the equivalent value of 47,611 shares in the form of CSRSUs with an average grant date fair value of $107.28. During the three months ended March 31, 2023, the Company also granted 36,956 shares in the form of PSAs to its employees with a grant date fair value of $115.67 per share. The RSUs, CSRSUs and PSAs granted are generally subject to service-based vesting conditions, with the PSAs also having performance-based vesting conditions. The performance conditions for the PSAs granted in 2023 have a performance period from January 1, 2023 through December 31, 2025 and performance conditions that are consistent with the PSAs granted in prior years.

The Company recognized stock-based compensation expense of $5.9 million and $4.6 million for the three months ended March 31, 2023 and 2022. Unrecognized compensation expense of approximately $19.7 million as of March 31, 2023 related to unsettled RSUs is expected to be recognized over a weighted-average period of 2.3 years. The unrecognized compensation expense related to CSRSUs totaled approximately $12.8 million at March 31, 2023 and is expected to be recognized over a weighted-average period of 2.2 years. Unrecognized compensation expense related to PSAs of approximately $7.1 million as of March 31, 2023 is expected to be recognized over a weighted-average period of 1.8 years.

Earnings Per Share

3 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

Earnings Per Share

NOTE 13 – EARNINGS PER SHARE

The Company’s earnings per share (“EPS”) is computed by dividing reported net income by the weighted-average number of shares outstanding. Diluted EPS considers the potential dilution that could occur if common stock equivalents of stock options, RSUs, and PSAs were exercised or converted into stock. PSAs are included in the computation of diluted shares only to the extent that the underlying performance conditions: (i) are satisfied as of the end of the reporting period or (ii) would be considered satisfied if the end of the reporting period were the end of the related performance period and the result would be dilutive under the treasury stock method.

As of March 31, 2023, the PSAs granted during the year ended December 31, 2021 met the related performance conditions for the initial performance period and were included in the calculation of diluted EPS. However, the PSAs granted during the year ended December 31, 2022 and during the three months ended March 31, 2023 have not yet completed their initial two-year performance period and therefore were excluded in the calculation of diluted EPS. For the three months ended March 31, 2023 and 2022, there were 10,199 and 53,819 weighted-average shares excluded from the calculation of EPS because they were anti-dilutive. The anti-dilutive shares in both years were associated with RSUs.

The dilutive effect of stock options, RSUs, and PSAs for each period reported is summarized below:


	Three Months Ended
	March 31,
	2023		2022
Net Income	$	16,398	$	17,862

Weighted-average number of basic shares outstanding during the period		18,779		18,795
Dilutive effect of stock options, RSUs, and performance shares		170		217
Weighted-average number of diluted shares outstanding during the period		18,949		19,012

Basic earnings per share	$	0.87	$	0.95
Diluted earnings per share	$	0.87	$	0.94

Share Repurchase Program

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

Share Repurchase Program

NOTE 14 – SHARE REPURCHASE PROGRAM

In September 2017, the board approved a share repurchase program that allows for share repurchases in the aggregate up to $100.0 million under approved share repurchase plans pursuant to Rules 10b5-1 and 10b-18 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). In November 2021, the board amended and increased the previously-authorized aggregate repurchase limit from $100.0 million to $200.0 million. The Restated Credit Agreement permits share repurchases provided that the Company’s Consolidated Leverage Ratio, prior to and after giving effect to such repurchases, is 0.50 to 1.00 less than the then-applicable maximum Consolidated Leverage Ratio and subject to the Company having net liquidity of at least $100.0 million after giving effect to such repurchases. Notwithstanding the formula-based limit, the Company is permitted to make share repurchases up to $25.0 million per calendar year provided that it was not in default.

Purchases under this program may be made from time to time at prevailing market prices in the open market or in privately negotiated transactions pursuant to Rule 10b-18 under the Exchange Act and in accordance with applicable insider trading and other securities laws and regulations. The purchases are funded from existing cash balances and/or borrowings, and the repurchased shares are held in treasury. The timing and extent to which the Company repurchases its shares will depend on market conditions and other corporate considerations in the Company’s sole discretion.

For the three months ended March 31, 2023 and 2022, the Company used $18.1 million to repurchase 180,000 shares and $17.0 million to repurchase 176,375 shares, respectively, under the share repurchase program. As of March 31, 2023, $93.7 million of authorization remained available for share repurchases under the repurchase program.

Fair Value

3 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

Fair Value

NOTE 15 – FAIR VALUE

Financial instruments measured at fair value on a recurring basis and their location within the accompanying consolidated balance sheets are as follows:


	March 31, 2023
(in thousands)	Level 1		Level 2		Level 3		Total		Location on Balance Sheet
Assets:
Interest rate swaps - current portion	$	—	$	4,843	$	—	$	4,843	Prepaid expenses and other assets
Forward contract agreements		—		23		—		23	Prepaid expenses and other assets
Interest rate swaps - long-term portion		—		1,998		—		1,998	Other assets
Deferred compensation investments in cash surrender life insurance		—		18,624		—		18,624	Other assets

Liabilities:
Interest rate swaps - long-term portion	$	—	$	2,732	$	—	$	2,732	Other long-term liabilities
Deferred compensation plan liabilities		—		18,874		—		18,874	Other long-term liabilities


	December 31, 2022
(in thousands)	Level 1		Level 2		Level 3		Total		Location on Balance Sheet
Assets:
Interest rate swaps - current portion	$	—	$	5,051	$	—	$	5,051	Prepaid expenses and other assets
Interest rate swaps - long-term portion		—		2,950		—		2,950	Other assets
Deferred compensation investments in cash surrender life insurance		—		17,869		—		17,869	Other assets

Liabilities:
Deferred compensation plan liabilities	$	—	$	17,485	$	—	$	17,485	Other long-term liabilities

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Subsequent Events

3 Months Ended

Mar. 31, 2023

Subsequent Events [Abstract]

Subsequent Events

NOTE 16 – SUBSEQUENT EVENTS

Dividend

On May 9, 2023, the board approved a $0.14 per share cash dividend. The dividend will be paid on July 14, 2023 to shareholders of record as of the close of business on June 9, 2023.

Commitments and Contingencies

3 Months Ended

Mar. 31, 2023

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

NOTE 17 – COMMITMENTS AND CONTINGENCIES

Letters of Credit

At March 31, 2023, the Company had open standby letters of credit totaling $2.7 million. The open standby letters of credit reduce the Company’s unused borrowing capacity under the Credit Facility.

Litigation and Claims

The Company is involved in various legal matters and proceedings arising in the ordinary course of business. While these matters and proceedings cause it to incur costs, including, but not limited to, attorneys’ fees, the Company currently believes that any ultimate liability arising out of these matters and proceedings will not have a material adverse effect on its financial position, results of operations, or cash flows.

Basis of Presentation and Nature of Operations (Policies)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements include the accounts of ICF International, Inc. (“ICFI”) and its principal subsidiary, ICF Consulting Group, Inc. (“Consulting,” and together with ICFI, the “Company”), and have been prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“U.S. GAAP”). Consulting is a wholly owned subsidiary of ICFI. ICFI is a holding company with no operations or assets other than its investment in the common stock of Consulting. All other subsidiaries of the Company are wholly owned by Consulting. Material intercompany transactions and balances have been eliminated.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the consolidated financial statements, and the reported amounts of revenue and expenses during the reporting periods. Areas of the consolidated financial statements where estimates may have the most significant effect include contractual and regulatory reserves, valuation and lives of tangible and intangible assets, impairment of goodwill and long-lived assets, accrued liabilities, revenue recognition (including estimates of variable considerations in determining the total contract price and allocation of performance obligations), the remaining costs to complete fixed-price contracts, bonus and other incentive compensation, stock-based compensation, reserves for tax benefits and valuation allowances on deferred tax assets, provisions for income taxes, collectability of receivables, and loss accruals for litigation. Actual results experienced by the Company may differ from management's estimates.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recent Accounting Pronouncements Not Yet Adopted Reference Rate Reform In March 2020, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2020-04, Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The standard is intended to provide temporary optional expedients and exceptions to the U.S. GAAP guidance on contract modifications and hedge accounting to ease accounting and financial reporting burdens related to the expected market transition from the London Interbank Offered Rate (“LIBOR”) and other interbank offered rates to alternative reference rates. The provisions of this ASU are elective and apply to all entities, subject to meeting certain criteria, that have debt or hedging contracts, among other contracts, that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. Entities can elect to not apply certain modification accounting requirements to contracts affected by reference rate reform if certain criteria are met. Also, entities can elect various optional expedients that would allow it to continue to apply hedge accounting for hedging relationships affected by reference rate reform if certain criteria are met. This guidance was effective beginning on March 12, 2020 and entities may elect to apply the amendments prospectively through December 31, 2022, the sunset date. In December 2022, the FASB issued ASU 2022-06 Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848 that extended the sunset date from December 31, 2022 to December 31, 2024. As of March 31, 2023, the Company has one interest rate swap contract with a variable interest rate that references LIBOR. The contract expires on August 31, 2023.
Reclassification	Reclassification Certain immaterial amounts in the consolidated statements of comprehensive income have been reclassified to conform to the current year’s presentation. To be consistent with the current presentation of interest, net, the Company reclassified $0.1 million in interest income for the three months ended March 31, 2022 from “Other expense” to “Interest, net”.

Restricted Cash (Tables)

3 Months Ended

Mar. 31, 2023

Restricted Cash And Cash Equivalents Current [Abstract]

Reconciliation of Cash and Cash Equivalents, and Restricted Cash


	March 31, 2023				March 31, 2022
	Beginning		Ending		Beginning		Ending
Cash and cash equivalents	$	11,257	$	5,364	$	8,254	$	7,392
Restricted cash		1,711		3,572		12,179		1,681
Total of cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows	$	12,968	$	8,936	$	20,433	$	9,073

Contract Receivables, Net (Tables)

3 Months Ended

Mar. 31, 2023

Receivables [Abstract]

Summary of Contract Receivables, Net

Contract receivables, net consisted of the following:


	March 31, 2023			December 31, 2022
Billed and billable	$	227,589		$	238,449
Allowance for expected credit losses		(6,523	)		(6,112	)
Contract receivables, net	$	221,066		$	232,337

Leases (Tables)

3 Months Ended

Mar. 31, 2023

Leases [Abstract]

Summary of Lease Cost

The Company’s lease cost is recognized on a straight-line basis over the lease term. Lease cost consists of the following:


	Three Months Ended
	March 31, 2023			March 31, 2022
Operating lease cost	$	6,489		$	9,502
Finance lease cost - amortization of right-of-use assets		494			—
Finance lease cost - interest		152			—
Short-term lease cost		149			133
Variable lease cost		55			20
Sublease income		(28	)		(10	)
Total lease cost	$	7,311		$	9,645

Summary of Future Minimum Lease Payments Under Non-Cancellable Operating and Finance Leases

Future minimum lease payments under non-cancellable operating and finance leases as of March 31, 2023 were as follows:


	Operating			Finance
March 31, 2024	$	18,582		$	2,967
March 31, 2025		28,674			2,967
March 31, 2026		26,939			2,967
March 31, 2027		23,322			2,967
March 31, 2028		17,024			2,967
Thereafter		139,443			5,192
Total future minimum lease payments		253,984			20,027
Less: Interest		(48,529	)		(2,119	)
Total lease liabilities	$	205,455		$	17,908

Summary of Other Information Related to Operating and Finance Leases

Other information related to operating and finance leases is as follows:


	March 31, 2023			March 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows for operating leases	$	4,982		$	10,110
Operating cash outflows for finance leases		152			—
Financing cash outflows for finance leases		590			—
Right-of-use assets obtained in exchange for operating lease liabilities	$	8,900		$	2,952
Weighted-average remaining lease term
Operating leases		11.6			11.5
Finance leases		6.8			—
Weighted-average discount rate
Operating leases		3.5	%		3.2	%
Finance leases		3.4	%		—

Accrued Expenses and Other Current Liabilities (Tables)

3 Months Ended

Mar. 31, 2023

Payables And Accruals [Abstract]

Schedule of Accrued Expenses and Other Current Liabilities

At March 31, 2023 and December 31, 2022, accrued expenses and other current liabilities consisted of the following:


	March 31, 2023		December 31, 2022
Deposits	$	22,792	$	32,384
Restricted contract funds		3,562		1,701
IT and software licensing costs		1,285		1,609
Taxes and insurance premiums		4,834		6,633
Facilities rental and lease exit costs		1,846		2,043
Interest		3,661		363
Professional services		2,958		3,617
Dividends		2,623		2,631
Cash collected not yet remitted to purchaser of billed receivables		13,225		6,164
Other accrued expenses and current liabilities		10,303		20,891
Total accrued expenses and other current liabilities	$	67,089	$	78,036

Long-Term Debt (Tables)

3 Months Ended

Mar. 31, 2023

Debt Disclosure [Abstract]

Schedule of Long-term Debt

At March 31, 2023 and December 31, 2022, long-term debt consisted of:


	March 31, 2023				December 31, 2022
	Average Interest Rate	Outstanding Balance			Average Interest Rate	Outstanding Balance
Term Loan		$	285,000			$	288,750
Delayed-Draw Term Loan			220,000				220,000
Revolving Credit			97,721				52,616
Total before debt issuance costs	6.3%		602,721		3.3%		561,366
Unamortized debt issuance costs			(4,742	)			(5,032	)
Total		$	597,979			$	556,334

Schedule of Future Scheduled Repayments of Debt Principal

Future scheduled repayments of debt principal are as follows:


Payments due by	Term Loan		Delayed-Draw Term Loan		Revolving Credit		Total
March 31, 2024	$	15,000	$	11,000	$	—	$	26,000
March 31, 2025		15,000		11,000		—		26,000
March 31, 2026		22,500		16,500		—		39,000
March 31, 2027		22,500		16,500		—		39,000
May 6, 2027 (Maturity)		210,000		165,000		97,721		472,721
Total	$	285,000	$	220,000	$	97,721	$	602,721

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI https://asc.fasb.org/extlink&oid=124435984&loc=d3e28541-108399

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21506-112644

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 55
-Paragraph 69B
-URI https://asc.fasb.org/extlink&oid=123466577&loc=SL123495735-112612

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
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-Section 45
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=124435984&loc=d3e28551-108399

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 55
-Paragraph 69E
-URI https://asc.fasb.org/extlink&oid=123466577&loc=SL123495743-112612

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21521-112644

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-Paragraph 8
-URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21538-112644

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-Section 55
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-URI https://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21475-112644

+ Details

Revenue Recognition (Tables)

3 Months Ended

Mar. 31, 2023

Revenue From Contract With Customer [Abstract]

Disaggregation of Revenue


	Three Months Ended March 31,
	2023					2022
	Dollars		Percent			Dollars		Percent
Client Markets:
Energy, environment, infrastructure, and disaster recovery	$	187,396		39	%	$	169,028		41	%
Health and social programs		203,698		42	%		156,057		38	%
Security and other civilian & commercial		92,188		19	%		88,383		21	%
Total	$	483,282		100	%	$	413,468		100	%


	Three Months Ended March 31,
	2023					2022
	Dollars		Percent			Dollars		Percent
Client Type:
U.S. federal government	$	267,742		55	%	$	219,044		53	%
U.S. state and local government		74,933		16	%		66,117		16	%
International government		20,669		4	%		27,377		7	%
Total Government		363,344		75	%		312,538		76	%
Commercial		119,938		25	%		100,930		24	%
Total	$	483,282		100	%	$	413,468		100	%


	Three Months Ended March 31,
	2023					2022
	Dollars		Percent			Dollars		Percent
Contract Mix:
Time-and-materials	$	200,990		42	%	$	164,968		40	%
Fixed price		219,016		45	%		184,012		44	%
Cost-based		63,276		13	%		64,488		16	%
Total	$	483,282		100	%	$	413,468		100	%

Schedule of Contract Balances and Changes in Contract Balances

Contract Balances:

The following table summarizes the contract balances as of March 31, 2023 and December 31, 2022:


	March 31, 2023			December 31, 2022
Contract assets	$	188,093		$	169,088
Contract liabilities		(25,771	)		(25,773	)
Net contract assets (liabilities)	$	162,322		$	143,315

Accumulated Other Comprehensive Loss (Tables)

3 Months Ended

Mar. 31, 2023

Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]

Components of Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss as of March 31, 2023 and 2022 included the following:


	Three Months Ended March 31, 2023
	Foreign Currency Translation Adjustments			Gain on Sale of Interest Rate Hedge Agreement (1)			Change in Fair Value of Interest Rate Hedge Agreements (2)			Total
Accumulated other comprehensive (loss) income at December 31, 2022	$	(14,056	)	$	41		$	5,882		$	(8,133	)
Current period other comprehensive (loss) income:
Other comprehensive (loss) income before reclassifications		1,753			—			(2,532	)		(779	)
Amounts reclassified from accumulated other comprehensive (loss) income (3)		—			(60	)		(1,360	)		(1,420	)
Effect of taxes (4)		(192	)		19			1,038			865
Total current period other comprehensive (loss) income		1,561			(41	)		(2,854	)		(1,334	)
Accumulated other comprehensive (loss) income at March 31, 2023	$	(12,495	)	$	—		$	3,028		$	(9,467	)


	Three Months Ended March 31, 2022
	Foreign Currency Translation Adjustments			Gain on Sale of Interest Rate Hedge Agreement (1)			Change in Fair Value of Interest Rate Hedge Agreement (2)			Total
Accumulated other comprehensive (loss) income at December 31, 2021	$	(8,759	)	$	569		$	(2,845	)	$	(11,035	)
Current period other comprehensive (loss) income:
Other comprehensive (loss) income before reclassifications		(2,304	)		—			5,509			3,205
Amounts reclassified from accumulated other comprehensive (loss) income (3)		—			(180	)		902			722
Effect of taxes (4)		363			48			(1,679	)		(1,268	)
Total current period other comprehensive (loss) income		(1,941	)		(132	)		4,732			2,659
Accumulated other comprehensive (loss) income at March 31, 2022	$	(10,700	)	$	437		$	1,887		$	(8,376	)

(1)

(2)

(3)

(4)

The Company’s effective tax rate for the three months ended March 31, 2023 and 2022 was 23.5% and 27.5%, respectively.

Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2023

Stockholders Equity Note [Abstract]

Schedule of Changes in Stockholders' Equity

Changes in stockholders’ equity for the three months ended March 31, 2023 and 2022 are as follows:


	Three Months Ended March 31, 2023
	Common Stock					Additional Paid-in		Retained			Treasury Stock					Accumulated Other Comprehensive
	Shares			Amount		Capital		Earnings			Shares		Amount			Loss			Total
Balance at December 31, 2022		18,883		$	23	$	401,957	$	703,030			4,906	$	(243,666	)	$	(8,133	)	$	853,211
Net income		—			—		—		16,398			—		—			—			16,398
Other comprehensive loss		—			—		—		—			—		—			(1,334	)		(1,334	)
Equity compensation		—			—		3,750		—			—		—			—			3,750
Exercise of stock options		4			—		111		—			—		—			—			111
Issuance of shares pursuant to vesting of restricted stock units		126			1		—		—			—		—			—			1
Payments for stock buybacks		(225	)		—		—		—			225		(22,815	)		—			(22,815	)
Dividends declared		—			—		—		(2,633	)		—		—			—			(2,633	)
Balance at March 31, 2023		18,788		$	24	$	405,818	$	716,795			5,131	$	(266,481	)	$	(9,467	)	$	846,689


	Three Months Ended March 31, 2022
	Common Stock					Additional Paid-in		Retained			Treasury Stock					Accumulated Other Comprehensive
	Shares			Amount		Capital		Earnings			Shares		Amount			Loss			Total
Balance at December 31, 2021		18,876		$	23	$	384,984	$	649,298			4,659	$	(219,800	)	$	(11,035	)	$	803,470
Net income		—			—		—		17,862			—		—			—			17,862
Other comprehensive income		—			—		—		—			—		—			2,659			2,659
Equity compensation		—			—		3,563		—			—		—			—			3,563
Exercise of stock options		4			—		92		—			—		—			—			92
Issuance of shares pursuant to vesting of restricted stock units		140			—		—		—			—		—			—			—
Payments for stock buybacks		(227	)		—		—		—			227		(21,716	)		—			(21,716	)
Dividends declared		—			—		—		(2,628	)		—		—			—			(2,628	)
Balance at March 31, 2022		18,793		$	23	$	388,639	$	664,532			4,886	$	(241,516	)	$	(8,376	)	$	803,302

Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

Schedule of Dilutive Effect of Stock Options RSUs and PSAs

The dilutive effect of stock options, RSUs, and PSAs for each period reported is summarized below:


	Three Months Ended
	March 31,
	2023		2022
Net Income	$	16,398	$	17,862

Weighted-average number of basic shares outstanding during the period		18,779		18,795
Dilutive effect of stock options, RSUs, and performance shares		170		217
Weighted-average number of diluted shares outstanding during the period		18,949		19,012

Basic earnings per share	$	0.87	$	0.95
Diluted earnings per share	$	0.87	$	0.94

Fair Value (Tables)

3 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of Financial Instruments Measured at Fair Value on Recurring Basis

Financial instruments measured at fair value on a recurring basis and their location within the accompanying consolidated balance sheets are as follows:


	March 31, 2023
(in thousands)	Level 1		Level 2		Level 3		Total		Location on Balance Sheet
Assets:
Interest rate swaps - current portion	$	—	$	4,843	$	—	$	4,843	Prepaid expenses and other assets
Forward contract agreements		—		23		—		23	Prepaid expenses and other assets
Interest rate swaps - long-term portion		—		1,998		—		1,998	Other assets
Deferred compensation investments in cash surrender life insurance		—		18,624		—		18,624	Other assets

Liabilities:
Interest rate swaps - long-term portion	$	—	$	2,732	$	—	$	2,732	Other long-term liabilities
Deferred compensation plan liabilities		—		18,874		—		18,874	Other long-term liabilities


	December 31, 2022
(in thousands)	Level 1		Level 2		Level 3		Total		Location on Balance Sheet
Assets:
Interest rate swaps - current portion	$	—	$	5,051	$	—	$	5,051	Prepaid expenses and other assets
Interest rate swaps - long-term portion		—		2,950		—		2,950	Other assets
Deferred compensation investments in cash surrender life insurance		—		17,869		—		17,869	Other assets

Liabilities:
Deferred compensation plan liabilities	$	—	$	17,485	$	—	$	17,485	Other long-term liabilities

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

Basis of Presentation and Nature of Operations - Additional Information (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 Office Segment	Mar. 31, 2022 USD ($) Segment
Basis of Presentation and Nature of Operations [Line Items]
Number of operating segments \| Segment	1	1
Number of reporting segments \| Segment	1	1
Reclassification of interest income \| $		$ 0.1
Domestic \| Minimum
Basis of Presentation and Nature of Operations [Line Items]
Number of offices \| Office	50
International \| Minimum
Basis of Presentation and Nature of Operations [Line Items]
Number of offices \| Office	20

Restricted Cash - Reconciliation of Cash and Cash Equivalents, and Restricted Cash to the Total of Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Cash And Cash Equivalents [Abstract]
Cash and cash equivalents	$ 5,364	$ 11,257	$ 7,392	$ 8,254
Restricted cash	3,572	1,711	1,681	12,179
Total of cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows	$ 8,936	$ 12,968	$ 9,073	$ 20,433

Contract Receivables, Net - Summary of Contract Receivables, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Receivables [Abstract]
Billed and billable	$ 227,589	$ 238,449
Allowance for expected credit losses	(6,523)	(6,112)
Contract receivables, net	$ 221,066	$ 232,337

Contract Receivables, Net - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Financing Receivable, Past Due [Line Items]
Cash collected not yet remitted to purchaser of billed receivables	$ 13,225	$ 6,164
Master Receivables Purchase Agreement with MUFG Bank
Financing Receivable, Past Due [Line Items]
Contract Receivables, Net	28,600
Cash collected not yet remitted to purchaser of billed receivables	$ 13,200	$ 6,200

Goodwill - Schedule of Changes in Carrying Amount of Goodwill (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Goodwill [Line Items]
Balance as of December 31, 2021	$ 1,212,898
Balance as of September 30, 2022	$ 1,213,908

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Leases - Additional Information (Details)	3 Months Ended	9 Months Ended
Leases - Additional Information (Details)	Mar. 31, 2023	Sep. 30, 2022
Lessee Lease Description [Line Items]
Operating leases, option to extend lease	The leases may include options to extend the lease periods for up to 5 years
Finance leases, option to extend lease	The leases may include options to extend the lease periods for up to 5 years
Operating leases, existence of option to extend		true
Operating leases, option to terminate lease		options to terminate the leases within 1 year
Finance leases, option to terminate lease		options to terminate the leases within 1 year
Operating leases, existence of option to terminate		true
Operating leases, residual value guarantee description	The leases may include a residual value guarantee or a responsibility to return the property to its original state of use.
Finance leases, residual value guarantee description	The leases may include a residual value guarantee or a responsibility to return the property to its original state of use.
Operating leases, existence of residual value guarantee		true
Minimum
Lessee Lease Description [Line Items]
Operating leases, remaining lease term	1 year
Finance leases, remaining lease term	1 year
Maximum
Lessee Lease Description [Line Items]
Operating leases, remaining lease term	16 years
Finance leases, remaining lease term	16 years
Operating leases, extendable lease term	5 years
Finance leases, extendable lease term	5 years
Operating leases, termination lease term	1 year
Finance leases, termination lease term	1 year

Leases - Summary of Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Leases [Abstract]
Operating lease cost	$ 6,489	$ 9,502
Finance lease cost - amortization of right-of-use assets	494
Finance lease cost - interest	152
Short-term lease cost	149	133
Variable lease cost	55	20
Sublease income	(28)	(10)
Total lease cost	$ 7,311	$ 9,645

Leases - Summary of Future Minimum Lease Payments Under Non-Cancellable Operating and Finance Leases (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Leases [Abstract]
March 31, 2024	$ 18,582
March 31, 2025	28,674
March 31, 2026	26,939
March 31, 2027	23,322
March 31, 2028	17,024
Thereafter	139,443
Total future minimum lease payments	253,984
Less: Interest	(48,529)
Total lease liabilities	205,455
March 31, 2024	2,967
March 31, 2025	2,967
March 31, 2026	2,967
March 31, 2027	2,967
March 31, 2028	2,967
Thereafter	5,192
Total future minimum lease payments	20,027
Less: Interest	(2,119)
Total lease liabilities	17,908
Operating lease liabilities - current	16,124	$ 19,305
Operating lease liabilities - non-current	189,331	182,251
Finance lease liabilities - current	2,400	2,381
Finance lease liabilities - non-current	$ 15,508	$ 16,116

Leases - Summary of Other Information Related to Operating and Finance Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Leases [Abstract]
Operating cash outflows for operating leases	$ 4,982	$ 10,110
Operating cash outflows for operating leases	152
Financing cash outflows for finance leases	590
Right-of-use assets obtained in exchange for operating lease liabilities	$ 8,900	$ 2,952
Weighted-average remaining lease term - Operating leases	11 years 7 months 6 days	11 years 6 months
Weighted-average remaining lease term - Finance leases	6 years 9 months 18 days
Weighted average discount rate - Operating leases	3.50%	3.20%
Weighted-average discount rate - Finance leases	3.40%

Accrued Expenses and Other Current Liabilities - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Payables And Accruals [Abstract]
Deposits	$ 22,792	$ 32,384
Restricted contract funds	3,562	1,701
IT and software licensing costs	1,285	1,609
Taxes and insurance premiums	4,834	6,633
Facilities rental and lease exit costs	1,846	2,043
Interest	3,661	363
Professional services	2,958	3,617
Dividends	2,623	2,631
Cash collected not yet remitted to purchaser of billed receivables	13,225	6,164
Other accrued expenses and current liabilities	10,303	20,891
Total accrued expenses and other current liabilities	$ 67,089	$ 78,036

Long-Term Debt - Schedule of Long Term Debt (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Average Interest Rate	6.30%	3.30%
Outstanding Balance before debt issuance costs	$ 602,721	$ 561,366
Unamortized debt issuance costs	(4,742)	(5,032)
Total	597,979	556,334
Term Loan
Debt Instrument [Line Items]
Outstanding Balance before debt issuance costs	285,000	288,750
Delayed-Draw Term Loan
Debt Instrument [Line Items]
Outstanding Balance before debt issuance costs	220,000	220,000
Revolving Credit
Debt Instrument [Line Items]
Outstanding Balance before debt issuance costs	$ 97,721	$ 52,616

- Definition

Amount, excluding unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Long-Term Debt - Additional Information (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Line of credit facility	$ 180,000,000.0
Letters of credit outstanding, amount	2,700,000
Line of credit facility, current borrowing capacity	$ 403,500,000
Interest Rate Swap \| Cash Flow Hedging \| Designated as Hedging Instrument
Debt Instrument [Line Items]
Derivative fixed interest rate	5.50%	3.70%
Revolving Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 600,000,000.0
Unused borrowing capacity amount	$ 499,600,000
Interest rate on credit facility	6.30%	3.30%

Long Term Debt - Schedule of Future Scheduled Repayments of Term Loan Principal (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
March 31, 2024	$ 26,000
March 31, 2025	26,000
March 31, 2026	39,000
March 31, 2027	39,000
May 6, 2027 (Maturity)	472,721
Total	602,721	$ 561,366
Term Loan
Debt Instrument [Line Items]
March 31, 2024	15,000
March 31, 2025	15,000
March 31, 2026	22,500
March 31, 2027	22,500
May 6, 2027 (Maturity)	210,000
Total	285,000	288,750
Delayed-Draw Term Loan
Debt Instrument [Line Items]
March 31, 2024	11,000
March 31, 2025	11,000
March 31, 2026	16,500
March 31, 2027	16,500
May 6, 2027 (Maturity)	165,000
Total	220,000	220,000
Revolving Credit
Debt Instrument [Line Items]
May 6, 2027 (Maturity)	97,721
Total	$ 97,721	$ 52,616

Revenue Recognition - Disaggregation of Revenue (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation Of Revenue [Line Items]
Revenue from clients	$ 483,282	$ 413,468
Time-and-Materials
Disaggregation Of Revenue [Line Items]
Revenue from clients	200,990	164,968
Fixed-Price
Disaggregation Of Revenue [Line Items]
Revenue from clients	219,016	184,012
Cost-Based
Disaggregation Of Revenue [Line Items]
Revenue from clients	63,276	64,488
U.S. Federal Government
Disaggregation Of Revenue [Line Items]
Revenue from clients	267,742	219,044
U.S. State and Local Government
Disaggregation Of Revenue [Line Items]
Revenue from clients	74,933	66,117
International Government
Disaggregation Of Revenue [Line Items]
Revenue from clients	20,669	27,377
Total Government
Disaggregation Of Revenue [Line Items]
Revenue from clients	363,344	312,538
Commercial
Disaggregation Of Revenue [Line Items]
Revenue from clients	$ 119,938	$ 100,930
Customer Concentration Risk \| Revenue from Contract with Customer
Disaggregation Of Revenue [Line Items]
Revenue from clients, Percent	100.00%	100.00%
Customer Concentration Risk \| Revenue from Contract with Customer \| Time-and-Materials
Disaggregation Of Revenue [Line Items]
Revenue from clients, Percent	42.00%	40.00%
Customer Concentration Risk \| Revenue from Contract with Customer \| Fixed-Price
Disaggregation Of Revenue [Line Items]
Revenue from clients, Percent	45.00%	44.00%
Customer Concentration Risk \| Revenue from Contract with Customer \| Cost-Based
Disaggregation Of Revenue [Line Items]
Revenue from clients, Percent	13.00%	16.00%
Customer Concentration Risk \| Revenue from Contract with Customer \| U.S. Federal Government
Disaggregation Of Revenue [Line Items]
Revenue from clients, Percent	55.00%	53.00%
Customer Concentration Risk \| Revenue from Contract with Customer \| U.S. State and Local Government
Disaggregation Of Revenue [Line Items]
Revenue from clients, Percent	16.00%	16.00%
Customer Concentration Risk \| Revenue from Contract with Customer \| International Government
Disaggregation Of Revenue [Line Items]
Revenue from clients, Percent	4.00%	7.00%
Customer Concentration Risk \| Revenue from Contract with Customer \| Total Government
Disaggregation Of Revenue [Line Items]
Revenue from clients, Percent	75.00%	76.00%
Customer Concentration Risk \| Revenue from Contract with Customer \| Commercial
Disaggregation Of Revenue [Line Items]
Revenue from clients, Percent	25.00%	24.00%
Energy, Environment, Infrastructure, and Disaster Recovery
Disaggregation Of Revenue [Line Items]
Revenue from clients	$ 187,396	$ 169,028
Energy, Environment, Infrastructure, and Disaster Recovery \| Customer Concentration Risk \| Revenue from Contract with Customer
Disaggregation Of Revenue [Line Items]
Revenue from clients, Percent	39.00%	41.00%
Health and Social Programs
Disaggregation Of Revenue [Line Items]
Revenue from clients	$ 203,698	$ 156,057
Health and Social Programs \| Customer Concentration Risk \| Revenue from Contract with Customer
Disaggregation Of Revenue [Line Items]
Revenue from clients, Percent	42.00%	38.00%
Security and Other Civilian & Commercial
Disaggregation Of Revenue [Line Items]
Revenue from clients	$ 92,188	$ 88,383
Security and Other Civilian & Commercial \| Customer Concentration Risk \| Revenue from Contract with Customer
Disaggregation Of Revenue [Line Items]
Revenue from clients, Percent	19.00%	21.00%

Revenue Recognition - Schedule of Changes in Contract Balances Due to Adoption of New Accounting Standards (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Revenue From Contract With Customer [Abstract]
Contract assets	$ 188,093	$ 169,088
Contract liabilities	(25,771)	(25,773)
Net contract assets (liabilities)	$ 162,322	$ 143,315

Revenue Recognition - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Revenue From Contract With Customer [Abstract]
Net contract assets (liabilities)	$ 19.0
Revenue related to contract liabilities	$ 14.2	$ 20.9

Revenue Recognition - Additional Information (Detail 1) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2023-04-01 $ in Billions	Mar. 31, 2023 USD ($)
Revenue From Contract With Customer [Line Items]
Unfulfilled performance obligation	$ 1.4
Maximum
Revenue From Contract With Customer [Line Items]
Expected period to satisfy performance obligations	2 years

Derivative Instruments and Hedging Activities - Additional Information (Details) - Interest Rate Swap - Cash Flow Hedging - Designated as Hedging Instrument $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($)
Derivative [Line Items]
Notional amount	$ 275.0
Maturity date	Dec. 31, 2028

Income Taxes - Additional Information (Details)	3 Months Ended
Income Taxes - Additional Information (Details)	Mar. 31, 2023	Mar. 31, 2022
Income Taxes [Line Items]
Effective income tax rate reconciliation, percent	23.50%	27.50%
Internal Revenue Service (IRS) \| Latest Tax Year
Income Taxes [Line Items]
Open tax year	2021
Internal Revenue Service (IRS) \| Earliest Tax Year
Income Taxes [Line Items]
Open tax year	2019
State Local and Foreign Jurisdictions \| Latest Tax Year
Income Taxes [Line Items]
Open tax year	2021
State Local and Foreign Jurisdictions \| Earliest Tax Year
Income Taxes [Line Items]
Open tax year	2018

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

3 Months Ended

Mar. 31, 2023

Mar. 31, 2022

Accumulated Other Comprehensive Income Loss [Line Items]

Balance

$ 853,211

$ 803,470

Current period other comprehensive (loss) income:

Total current period other comprehensive income (loss)

(1,334)

2,659

Balance

846,689

803,302

Foreign Currency Translation Adjustments

Accumulated Other Comprehensive Income Loss [Line Items]

Balance

(14,056)

(8,759)

Current period other comprehensive (loss) income:

Other comprehensive (loss) income before reclassifications

1,753

(2,304)

Effect of taxes

^[1]

(192)

363

Total current period other comprehensive income (loss)

1,561

(1,941)

Balance

(12,495)

(10,700)

Gain on Sale of Interest Rate Hedge Agreement

Accumulated Other Comprehensive Income Loss [Line Items]

Balance

^[2]

569

Current period other comprehensive (loss) income:

Amounts reclassified from accumulated other comprehensive (loss) income

^[2],[3]

(60)

(180)

Effect of taxes

^[1],[2]

Total current period other comprehensive income (loss)

^[2]

(41)

(132)

Balance

^[2]

437

Change in Fair Value of Interest Rate Hedge Agreements

Accumulated Other Comprehensive Income Loss [Line Items]

Balance

^[4]

5,882

(2,845)

Current period other comprehensive (loss) income:

Other comprehensive (loss) income before reclassifications

^[4]

(2,532)

5,509

Amounts reclassified from accumulated other comprehensive (loss) income

^[3],[4]

(1,360)

902

Effect of taxes

^[1],[4]

1,038

(1,679)

Total current period other comprehensive income (loss)

^[4]

(2,854)

4,732

Balance

^[4]

3,028

1,887

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Income Loss [Line Items]

Balance

(8,133)

(11,035)

Current period other comprehensive (loss) income:

Other comprehensive (loss) income before reclassifications

(779)

3,205

Amounts reclassified from accumulated other comprehensive (loss) income

^[3]

(1,420)

722

Effect of taxes

^[1]

865

(1,268)

Total current period other comprehensive income (loss)

(1,334)

2,659

Balance

$ (9,467)

$ (8,376)

[1]	The Company’s effective tax rate for the three months ended March 31, 2023 and 2022 was 23.5% and 27.5%, respectively.
[2]	Represents the unamortized value of an interest rate hedge agreement, designated as a cash flow hedge, which was sold on December 1, 2016. The fair value of the interest rate hedge agreement, at the date of the sale, was recorded in other comprehensive income, net of tax, and is being reclassified to interest expense when earnings are impacted by the hedged items and as interest payments are made on the Credit Facility from January 31, 2018 to January 31, 2023.
[3]	The Company expects to reclassify $4.8 million of net gains related to the Change in Fair Value of Interest Rate Hedge Agreement from accumulated other comprehensive loss into earnings during the next 12 months.
[4]	Represents the change in fair value of interest rate hedge agreements designated as cash flow hedges. The fair value of the interest rate hedge agreements was recorded in other comprehensive income, net of tax, and will be reclassified to earnings when earnings are impacted by the hedged items, as interest payments are made on the Credit Facility from August 31, 2018 to February 28, 2025 (see “Note 8 — Derivative Instruments and Hedging Activities”).

Accumulated Other Comprehensive Loss - Components of Accumulated Other Comprehensive Loss (Parenthetical) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]
Expects to reclassify net losses related to change in fair value of interest rate hedge agreement from accumulated other comprehensive loss into earnings	$ 4.8
Effective tax rate	23.50%	27.50%

Stockholders' Equity - Schedule of Changes in Stockholders' Equity (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Balance	$ 853,211	$ 803,470
Net income	16,398	17,862
Other comprehensive (loss) income, net of tax	(1,334)	2,659
Equity compensation	3,750	3,563
Exercise of stock options	111	92
Issuance of shares pursuant to employee stock purchase plan and vesting of restricted stock units	1
Payments for stock buybacks	(22,815)	(21,716)
Dividends declared	(2,633)	(2,628)
Balance	$ 846,689	$ 803,302
Common Stock
Balance (in shares)	18,883	18,876
Balance	$ 23	$ 23
Exercise of stock options (in shares)	4	4
Issuance of shares pursuant to vesting of restricted stock units (in shares)	126	140
Issuance of shares pursuant to employee stock purchase plan and vesting of restricted stock units	$ 1
Payments for buybacks (in shares)	(225)	(227)
Balance (in shares)	18,788	18,793
Balance	$ 24	$ 23
Additional Paid-in Capital
Balance	401,957	384,984
Equity compensation	3,750	3,563
Exercise of stock options	111	92
Balance	405,818	388,639
Retained Earnings
Balance	703,030	649,298
Net income	16,398	17,862
Dividends declared	(2,633)	(2,628)
Balance	$ 716,795	$ 664,532
Treasury Stock
Balance (in shares)	4,906	4,659
Balance	$ (243,666)	$ (219,800)
Payments for buybacks (in shares)	(225)	227
Payments for stock buybacks	$ (22,815)	$ (21,716)
Balance (in shares)	5,131	4,886
Balance	$ (266,481)	$ (241,516)
Accumulated Other Comprehensive Loss
Balance	(8,133)	(11,035)
Other comprehensive (loss) income, net of tax	(1,334)	2,659
Balance	$ (9,467)	$ (8,376)

Accounting for Stock-based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended
	Apr. 04, 2018	Mar. 31, 2023	Mar. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Allocated share-based compensation expense		$ 5.9	$ 4.6
Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period		76,498
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period, weighted average grant date fair value		$ 107.28
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized		$ 19.7
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized, period for recognition		2 years 3 months 18 days
Cash Settled RSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period		47,611
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period, weighted average grant date fair value		$ 107.28
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized		$ 12.8
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized, period for recognition		2 years 2 months 12 days
Performance Shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period		36,956
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period, weighted average grant date fair value		$ 115.67
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized		$ 7.1
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized, period for recognition		1 year 9 months 18 days
Omnibus Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, number of shares grants	1,600,000	6,747
Share-based compensation arrangement by share-based payment award, number of additional awards		0
Share-based compensation arrangement by share-based payment award, number of shares available for grant		670,133

Business Combinations - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Business Acquisition [Line Items]
Goodwill	$ 1,213,908		$ 1,212,898
Revenue	483,282	$ 413,468
Operating loss	31,451	27,703
Net loss	$ 16,398	$ 17,862

- Definition

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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Earnings Per Share - Additional Information (Details) - shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Antidilutive securities excluded from computation of earnings per share, amount	10,199	53,819
Performance Shares \| Initial Performance Vesting Period
Share-based compensation arrangement by share-based payment award, award vesting period	2 years

Earnings Per Share - Schedule of Dilutive Effect of Stock Options RSUs and PSAs (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Earnings Per Share [Abstract]
Net Income	$ 16,398	$ 17,862
Weighted-average number of basic shares outstanding during the period	18,779	18,795
Dilutive effect of stock options, RSUs, and performance shares	170	217
Weighted-average number of diluted shares outstanding during the period	18,949	19,012
Basic earnings per share	$ 0.87	$ 0.95
Diluted earnings per share	$ 0.87	$ 0.94

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Share Repurchase Program - Additional Information (Details)	3 Months Ended
	Mar. 31, 2023 USD ($) shares	Mar. 31, 2022 USD ($) shares	Nov. 30, 2021 USD ($)	Sep. 30, 2017 USD ($)
Equity Class Of Treasury Stock [Line Items]
Stock repurchase program, authorized amount			$ 200,000,000.0	$ 100,000,000.0
Line of credit facility, condition permitted for unlimited share repurchases, leverage ratio			0.50	0.50
Net liquidity amount			$ 100,000,000.0
Share repurchase amount			$ 25,000,000.0
Stock Repurchased During Period, Shares \| shares	180,000	176,375
Stock Repurchased During Period, Value	$ 18,100,000	$ 17,000,000.0
Credit Facility
Equity Class Of Treasury Stock [Line Items]
Share repurchase amount	$ 93,700,000

Fair Value - Schedule of Financial Instruments Measured at Fair Value on Recurring Basis (Details) - Fair Value, Recurring - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Forward Contract Agreements \| Prepaid Expenses and Other Current Assets
Assets:
Assets, Total	$ 23
Deferred Compensation Investments in Cash Surrender Life Insurance \| Other Assets
Assets:
Assets, Total	18,624	$ 17,869
Deferred Compensation Plan Liabilities \| Other Long-Term Liabilities
Liabilities:
Liabilities, Total	18,874	17,485
Interest Rate Swap \| Other Assets
Assets:
Assets, Total	1,998	2,950
Interest Rate Swap \| Prepaid Expenses and Other Current Assets
Assets:
Assets, Total	4,843	5,051
Interest Rate Swap \| Other Long-Term Liabilities
Liabilities:
Liabilities, Total	2,732
Level 2 \| Forward Contract Agreements \| Prepaid Expenses and Other Current Assets
Assets:
Assets, Total	23
Level 2 \| Deferred Compensation Investments in Cash Surrender Life Insurance \| Other Assets
Assets:
Assets, Total	18,624	17,869
Level 2 \| Deferred Compensation Plan Liabilities \| Other Long-Term Liabilities
Liabilities:
Liabilities, Total	18,874	17,485
Level 2 \| Interest Rate Swap \| Other Assets
Assets:
Assets, Total	1,998	2,950
Level 2 \| Interest Rate Swap \| Prepaid Expenses and Other Current Assets
Assets:
Assets, Total	4,843	$ 5,051
Level 2 \| Interest Rate Swap \| Other Long-Term Liabilities
Liabilities:
Liabilities, Total	$ 2,732

Subsequent Events - Additional Information (Details)	May 09, 2023 $ / shares
Subsequent Event
Subsequent Event [Line Items]
Cash dividend per share	$ 0.14

Commitments and Contingencies - Additional Information (Details) $ in Millions	Mar. 31, 2023 USD ($)
Loss Contingencies [Line Items]
Letters of credit	$ 2.7
Standby Letters of Credit
Loss Contingencies [Line Items]
Letters of credit	$ 2.7