VSE (VSEC) 10-Q 29 Jul 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Jul. 22, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	VSE Corporation
Entity Central Index Key	102,752
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		5,399,342
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016

Unaudited Consolidated Balance

Unaudited Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 680	$ 740
Receivables, net	91,018	78,471
Inventories	117,373	109,123
Other current assets	13,648	9,138
Total current assets	222,719	197,472
Property and equipment, net	63,877	64,308
Intangible assets, net	135,002	143,043
Goodwill	198,545	198,545
Other assets	15,243	13,986
Total assets	635,386	617,354
Current liabilities:
Current portion of long-term debt	19,148	17,272
Accounts payable	53,563	40,084
Current portion of earn-out obligation	10,500	9,678
Accrued expenses and other current liabilities	31,256	29,067
Dividends payable	648	591
Total current liabilities	115,115	96,692
Long-term debt, less current portion	212,909	215,243
Deferred compensation	13,210	11,169
Long-term lease obligations, less current portion	22,632	23,251
Earn-out obligation, less current portion	0	10,166
Deferred tax liabilities	30,005	31,524
Total liabilities	393,871	388,045
Commitments and contingencies
Stockholders' equity:
Common stock, par value $0.05 per share, authorized 15,000,000 shares; issued and outstanding 5,399,342 and 5,375,532, respectively	270	269
Additional paid-in capital	23,136	21,637
Retained earnings	218,756	207,478
Accumulated other comprehensive loss	(647)	(75)
Total stockholders' equity	241,515	229,309
Total liabilities and stockholders' equity	$ 635,386	$ 617,354

Unaudited Consolidated Balance3

Unaudited Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2016	Dec. 31, 2015
Stockholders' equity:
Common stock, par value (in dollars per share)	$ 0.05	$ 0.05
Common stock, authorized (in shares)	15,000,000	15,000,000
Common stock, issued (in shares)	5,399,342	5,375,532
Common stock, outstanding (in shares)	5,399,342	5,375,532

Unaudited Consolidated Statemen

Unaudited Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Revenues:
Products	$ 81,994	$ 80,238	$ 167,265	$ 149,959
Services	78,479	50,888	136,844	101,958
Total revenues	160,473	131,126	304,109	251,917
Costs and operating expenses:
Products	66,827	65,170	136,117	121,353
Services	75,606	49,401	131,810	98,525
Selling, general and administrative expenses	2,140	958	3,521	2,117
Amortization of intangible assets	4,021	4,101	8,041	7,742
Total costs and operating expenses	148,594	119,630	279,489	229,737
Operating income	11,879	11,496	24,620	22,180
Interest expense, net	2,400	2,417	4,897	4,560
Income before income taxes	9,479	9,079	19,723	17,620
Provision for income taxes	3,510	3,600	7,202	6,921
Net income	$ 5,969	$ 5,479	$ 12,521	$ 10,699
Basic earnings per share (in dollars per share)	$ 1.11	$ 1.02	$ 2.32	$ 1.99
Basic weighted average shares outstanding (in shares)	5,399,342	5,374,863	5,394,345	5,372,293
Diluted earnings per share (in dollars per share)	$ 1.10	$ 1.02	$ 2.32	$ 1.99
Diluted weighted average shares outstanding (in shares)	5,413,245	5,390,821	5,408,253	5,385,548
Dividends declared per share (in dollars per share)	$ 0.12	$ 0.11	$ 0.23	$ 0.21

Unaudited Consolidated Stateme5

Unaudited Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Unaudited Consolidated Statements of Comprehensive Income [Abstract]
Net income	$ 5,969	$ 5,479	$ 12,521	$ 10,699
Change in fair value of interest rate swap agreements	(99)	123	(572)	(178)
Other comprehensive (loss) gain, net of tax	(99)	123	(572)	(178)
Comprehensive income	$ 5,870	$ 5,602	$ 11,949	$ 10,521

Unaudited Consolidated Stateme6

Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash flows from operating activities:
Net income	$ 12,521	$ 10,699
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	12,935	12,778
Deferred taxes	(1,161)	(1,602)
Stock-based compensation	1,361	1,416
Earn-out obligation adjustment	(1,329)	527
Changes in operating assets and liabilities, net of impact of acquisition:
Receivables, net	(12,547)	(6,190)
Inventories	(8,250)	(8,792)
Other current assets and noncurrent assets	(5,762)	1,443
Accounts payable and deferred compensation	15,474	(721)
Accrued expenses and other current liabilities	2,492	(5,047)
Long-term lease obligations	(619)	(581)
Net cash provided by operating activities	15,115	3,930
Cash flows from investing activities:
Purchases of property and equipment	(4,224)	(5,212)
Proceeds from the sale of property and equipment	28	227
Cash paid for acquisitions, net of cash acquired	0	(188,771)
Net cash used in investing activities	(4,196)	(193,756)
Cash flows from financing activities:
Borrowings on loan agreement	133,279	351,596
Repayments on loan agreement	(134,012)	(156,994)
Earn-out obligation payments	(8,015)	0
Payment of debt financing costs	0	(2,699)
Payments on capital lease obligations	(546)	(479)
Payments of taxes for equity transactions	(499)	(342)
Dividends paid	(1,186)	(1,075)
Net cash (used in) provided by financing activities	(10,979)	190,007
Net (decrease) increase in cash and cash equivalents	(60)	181
Cash and cash equivalents at beginning of period	740	263
Cash and cash equivalents at end of period	$ 680	$ 444

Nature of Business and Basis of

Nature of Business and Basis of Presentation	6 Months Ended
	Jun. 30, 2016
Nature of Business and Basis of Presentation [Abstract]
Nature of Business and Basis of Presentation	(1) Nature of Business and Basis of Presentation Our accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles for interim financial information and the instructions to SEC Form 10-Q and Article 10 of SEC Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements. In our opinion, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three and six months ended June 30, 2016 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2016. For further information refer to the consolidated financial statements and footnotes thereto included in our 2015 Form 10-K. The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates affecting the financial statements include accruals for contract disallowance reserves, recoverability of goodwill and intangible assets, and earn-out obligations. Reclassifications Effective January 1, 2016, we elected to present amortization of purchased intangible assets as a separate line item and change the line item “Contract costs” to “Costs and operating expenses” on our consolidated statements of income. For consistency, these amortization expenses have been reclassified in the consolidated statements of income for the three and six months ended June 30, 2015 to conform to the current period presentation. As a result, amortization expenses for the three months ended June 30, 2015 previously reflected as contract costs of $3.6 million in “Products” and $449 thousand in “Services” were reclassified to the “Amortization of intangible assets” line item within cost and operating expenses. Amortization expenses for the six months ended June 30, 2015 previously reflected as contract costs of $6.8 million in “Products” and $935 thousand in “Services” were reclassified to the “Amortization of intangible assets” line item within cost and operating expenses. We adopted Accounting Standards Update ("ASU") 2015-17 and ASU 2015-03 on January 1, 2016 and prior period amounts have been reclassified to conform to the current period presentation. See Recently Issued Accounting Pronouncements These reclassifications have no effect on our reported financial condition, results of operations, or cash flows.

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2016
Acquisitions [Abstract]
Acquisitions	(2) Acquisitions Ultra Seating On December 31, 2015, we acquired 100% of the voting and equity interests of Ultra Seating Company ("Ultra Seating") for an initial purchase price of approximately $3.8 million (subject to adjustment). Ultra Seating provides specialized seating for heavy duty and light duty commercial trucks. Ultra Seating is included in our Supply Chain Management Group. We are in the process of finalizing our valuation of the assets acquired (including intangible assets) and liabilities assumed, including the amortization period for the intangible assets. Based on preliminary estimates, we recorded approximately $1.9 million of goodwill and approximately $1.5 million of intangible assets primarily related to customer relationships and a trade name. The pro forma effects, assuming our acquisition of Ultra Seating had occurred as of January 1, 2015, were not material to our total revenues, net income and earnings per share for the three and six months ended June 30, 2015. VSE Aviation On January 28, 2015, we acquired 100% of the voting and equity interests of four businesses that perform maintenance, repair and overhaul (“MRO”) services and parts supply for general aviation jet aircraft engines and engine accessories. The acquired businesses include Air Parts & Supply Co., Kansas Aviation of Independence, L.L.C., Prime Turbines LLC (including both U.S. and German-based operations), and CT Aerospace LLC (collectively, “the Aviation Acquisition”). These four businesses are operating as a combined group managed by our wholly owned subsidiary VSE Aviation, Inc. (“VAI”). The pro forma effects assuming the Aviation Acquisition had occurred as of January 1, 2015 were not significant to our total revenues, net income and earnings per share for the three and six months ended June 30, 2015. In July 2016, we reached an agreement with the sellers of the four aviation businesses for an early termination and final payment of VSE’s post-closing earn-out obligation contained in the Aviation Acquisition agreement. Approximately $8.0 million was paid to the sellers in May 2016 and the final earn-out payment of $10.5 million was made in July 2016.

Debt

Debt	6 Months Ended
	Jun. 30, 2016
Debt [Abstract]
Debt	(3) Debt We have a loan agreement with a group of banks that was amended in January 2015 to fund our Aviation Acquisition, provide working capital for our continuing operations, and retire our existing debt. The loan agreement, which expires in January 2020, is comprised of a term loan facility and a revolving loan facility. The revolving loan facility provides for revolving loans and letters of credit. Financing costs associated with the inception of the amended loan agreement of approximately $2.7 million were capitalized and are being amortized over the five-year life of the loan. Our required term loan payments after June 30, 2016 are approximately $9.4 million in 2016, $21.6 million in 2017, $28.1 million in 2018, $30 million in 2019, and $36.2 million in 2020. The amount of term loan borrowings outstanding as of June 30, 2016 was approximately $125.3 million. The maximum amount of credit available to us under the loan agreement for revolving loans and letters of credit as of June 30, 2016 was $150 million. We may borrow and repay the revolving loan borrowings as our cash flows require or permit. We pay an unused commitment fee and fees on letters of credit that are issued. We had approximately $109 million in revolving loan amounts outstanding and no letters of credit outstanding as of June 30, 2016. We had approximately $101 million in revolving loan amounts outstanding and no letters of credit outstanding as of December 31, 2015. Under the loan agreement we may elect to increase the maximum availability of the term loan facility, the revolving loan facility, or both facilities up to an aggregate additional amount of $75 million. Total bank loan borrowed funds outstanding, including term loan borrowings and revolving loan borrowings, were approximately $234 million and $235 million, as of June 30, 2016 and December 31, 2015, respectively. These amounts exclude unamortized deferred financing costs of approximately $1.9 million and $2.2 million as of June 30, 2016 and December 31, 2015, respectively. The fair value of outstanding debt as of June 30, 2016 under our bank loan facilities approximates its carrying value using Level 2 inputs based on market data on companies with a corporate rating similar to ours that have recently priced credit facilities. We pay interest on the term loan borrowings and revolving loan borrowings at LIBOR plus a base margin or at a base rate (typically the prime rate) plus a base margin. As of June 30, 2016, the LIBOR base margin was 2.25% and the base rate base margin was 1.00%. The base margins increase or decrease in increments as our Total Funded Debt/EBITDA Ratio increases or decreases. The loan agreement requires us to have interest rate hedges on a portion of the outstanding term loan for the first three years of the agreement. We executed interest rate swap agreements in February 2015 that complied with the agreement. The amount of swapped debt outstanding as of June 30, 2016 was $100 million. After taking into account the impact of interest rate swap agreements, as of June 30, 2016, interest rates on portions of our outstanding debt ranged from 2.69% to 4.5%, and the effective interest rate on our aggregate outstanding debt was 3.13%. Interest expense incurred on bank loan borrowings and interest rate hedges was approximately $1.9 million for each of the quarters ended June 30, 2016 and 2015. Interest expense incurred on bank loan borrowings and interest rate hedges was approximately $3.8 million and $3.4 million for the six months ended June 30, 2016 and 2015, respectively. The loan agreement contains collateral requirements to secure our borrowings and other loan agreement obligations, restrictive covenants, a limit on annual dividends, and other affirmative and negative covenants, conditions, and limitations. Restrictive covenants include a maximum Total Funded Debt/EBITDA Ratio, which decreases over time, and a minimum Fixed Charge Coverage Ratio. We were in compliance with required ratios and other terms and conditions at June 30, 2016.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share	(4) Earnings Per Share Basic earnings per share (“EPS”) has been computed by dividing net income by the weighted average number of shares of common stock outstanding during each period. Shares issued during the period are weighted for the portion of the period that they were outstanding. Our calculation of diluted earnings per common share includes the dilutive effects for an assumed vesting of restricted stock awards. Three months Six months ended June 30, ended June 30, 2016 2015 2016 2015 Basic weighted average common shares outstanding 5,399,342 5,374,863 5,394,345 5,372,293 Effect of dilutive shares 13,903 15,958 13,908 13,255 Diluted weighted average common shares outstanding 5,413,245 5,390,821 5,408,253 5,385,548 Stock Split In May 2016, our Board of Directors approved a two-for-one stock split effected in the form of a stock dividend (“Stock Split”). The Stock Split had a record date of July 20, 2016 and share distribution will occur on August 3, 2016. All references made to share or per share amounts in the accompanying unaudited consolidated financial statements and applicable disclosures are presented on a pre-split basis. As a result of the Stock Split, all historical per share data and number of shares outstanding presented in future financial statements will be retroactively adjusted. Upon completion of the Stock Split, the number of issued and outstanding shares will increase from approximately 5.4 million to 10.8 million. Pro forma earnings per share is as follows, giving retroactive effect to the stock split: Three months Six months ended June 30, ended June 30, 2016 2015 2016 2015 Earnings per share: Basic – as reported $ 1.11 $ 1.02 $ 2.32 $ 1.99 Basic – pro forma $ 0.55 $ 0.51 $ 1.16 $ 1.00 Diluted – as reported $ 1.10 $ 1.02 $ 2.32 $ 1.99 Diluted – pro forma $ 0.55 $ 0.51 $ 1.16 $ 0.99 Weighted average common shares outstanding: Basic – as reported 5,399,342 5,374,863 5,394,345 5,372,293 Basic – pro forma 10,798,684 10,749,726 10,788,691 10,744,586 Diluted – as reported 5,413,245 5,390,821 5,408,253 5,385,548 Diluted – pro forma 10,826,490 10,781,642 10,816,507 10,771,096

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies [Abstract]
Commitments and Contingencies	(5) Commitments and Contingencies Commitments The one remaining bonded project of approximately $3 million was completed during the quarter ended June 30, 2016. Contingencies We are one of the defendants in a multiple plaintiff wrongful death action in Hawaii related to a fireworks explosion that occurred in April 2011 at a facility operated by a subcontractor, that resulted in the death of five of its employees. The litigation is expected to proceed to trial in 2017. While the results of litigation cannot be predicted with certainty, we do not anticipate that this litigation will have a material adverse effect on our results of operations or financial position. In March 2013, a lawsuit, Anchorage v. Integrated Concepts and Research Corporation, et al. On or about August 21, 2015, a lawsuit, The Charter Oak Fire Insurance Company, The Travelers Indemnity Company of Connecticut and Travelers Property Casualty Company of America v. Integrated Concepts and Research Corporation, VSE Corporation and Municipality of Anchorage On or about February 27, 2015, a lawsuit, Heritage Disposal and Storage v. VSE Corporation During the course of defending the Heritage litigation and shortly before trial, VSE obtained evidence that invoices provided by Heritage under our predecessor contract with the Treasury Department, which were then charged to the Government, were based on Heritage’s improper inflation of the weight of certain seized fireworks stored by Heritage. We filed a voluntary disclosure of this matter with the Inspector General of the Department of Treasury on June 17, 2016. We estimate that the overbilling of the Government based on Heritage’s improper inflation of the weight of seized fireworks stored by Heritage may be approximately $1.5 million. We are cooperating with the Government and are continuing to investigate the matter, which may affect the final disposition of the Heritage litigation. This investigation and the Heritage litigation may affect VSE’s claim before the U.S. Civilian Board of Contract Appeals (“CBCA”) seeking additional funds from the Government related to Heritage’s fireworks seizure services. In that matter, following a joint request by VSE and the Government, the CBCA has suspended VSE’s claim against the Government until late August of 2016 when the CBCA is expected to request a status update from VSE and the Government on the possible overcharging issues related to Heritage. Regardless of the outcome of our voluntary disclosure to the Inspector General of the Department of Treasury and our claim against the Government that is under the CBCA’s jurisdiction, we believe it is probable that VSE will sustain a loss from the resolution of the Heritage litigation. While there are a number of pending issues regarding the final disposition of the Heritage litigation, we currently estimate the probable range of VSE’s loss will be between $1.2 million and $5.5 million. The lower end of the range of loss is based on obtaining a favorable ruling by the Court on VSE’s 2013 settlement agreement with Heritage, which would significantly reduce the amount of underpaid storage fees payable by VSE to Heritage, and the upper end of the range is based on potential unfavorable rulings on the matters pending before the Court, including the imposition of interest. Given that we do not have enough information at this time to determine if any amount in that range is a better estimate than any other amount because of the ongoing nature of this litigation, we accrued the reserve at the low end of the range. As discussed under Results of Operations in Item 2 “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part I of this report, VSE’s “Costs and operating expenses” reflects in the unaudited consolidated statements of income for the three months ended June 30, 2016 contained herein includes a reserve of $1.2 million in respect of the Heritage litigation. In addition to the above-referenced legal proceedings, we have, in the normal course of business, certain claims against us and against other parties and we may be subject to various governmental investigations. In our opinion, the resolution of these claims and investigations will not have a material adverse effect on our results of operations, cash flows or financial position. However, the results of any legal proceedings cannot be predicted with certainty, therefore, the amount of loss, if any, cannot be reasonably estimated.

Business Segments and Customer

Business Segments and Customer Information	6 Months Ended
	Jun. 30, 2016
Business Segments and Customer Information [Abstract]
Business Segments and Customer Information	(6) Business Segments and Customer Information Business Segments Management of our business operations is conducted under four reportable operating segments: Supply Chain Management Group Aviation Group Federal Services Group IT, Energy and Management Consulting Group These segments operate under separate management teams and financial information is produced for each segment. The entities within the IT, Energy and Management Consulting Group reportable segment meet the aggregation of operating segments criteria as defined by the accounting standard for segment reporting. We evaluate segment performance based on consolidated revenues and operating income. Net sales of our business segments exclude intersegment sales as these activities are eliminated in consolidation. Our segment information for the three and six months ended June 30, 2016 and 2015 is as follows (in thousands): Three months Six months 2016 2015 2016 2015 Revenues: Supply Chain Management Group $ 49,785 $ 47,872 $ 100,928 $ 94,114 Aviation Group 32,064 31,904 65,610 54,668 Federal Services Group 66,587 37,742 114,302 75,534 IT, Energy and Management Consulting Group 12,037 13,608 23,269 27,601 Total revenues $ 160,473 $ 131,126 $ 304,109 $ 251,917 Operating income: Supply Chain Management Group $ 8,823 $ 8,681 $ 17,851 $ 16,987 Aviation Group 2,657 2,604 5,946 4,717 Federal Services Group 1,046 (356 ) 1,717 (623 ) 786 1,488 1,674 2,703 Corporate/unallocated expenses (1,433 ) (921 ) (2,568 ) (1,604 ) Operating income $ 11,879 $ 11,496 $ 24,620 $ 22,180 Customer Information Our revenue by customer is as follows (dollars in thousands): Three months ended June 30, Six months ended June 30, 2016 % 2015 % 2016 % 2015 % Customer U.S. Postal Service $ 44,295 27.6 $ 45,339 34.5 $ 90,592 29.8 $ 89,519 35.5 U.S. Navy 36,569 22.8 22,607 17.2 66,460 21.9 44,004 17.4 U.S. Army 34,291 21.4 18,557 14.2 56,501 18.5 37,728 15.0 U.S. Air Force 876 0.5 924 0.7 1,857 0.6 1,714 0.7 Total - DoD 71,736 44.7 42,088 32.1 124,818 41.0 83,446 33.1 Commercial aviation 32,064 20.0 31,904 24.3 65,610 21.6 54,668 21.7 Other commercial 2,804 1.7 1,760 1.4 5,087 1.7 2,967 1.2 Total - Commercial 34,868 21.7 33,664 25.7 70,697 23.3 57,635 22.9 Department of Energy 3,006 1.9 4,662 3.6 5,909 1.9 9,106 3.6 Social Security Administration 2,463 1.5 2,271 1.7 5,050 1.7 4,721 1.9 Other government 4,105 2.6 3,102 2.4 7,043 2.3 7,490 3.0 Total – Other Civilian Agencies 9,574 6.0 10,035 7.7 18,002 5.9 21,317 8.5 Total $ 160,473 100 $ 131,126 100 $ 304,109 100 $ 251,917 100

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Jun. 30, 2016
Goodwill and Intangible Assets [Abstract]
Goodwill and Intangible Assets	(7) Goodwill and Intangible Assets There were no changes in goodwill for the six months ended June 30, 2016. Goodwill by operating segment is as follows (in thousands): Supply Chain Management IT, Energy and Management Consulting Aviation Total Balance as of December 31, 2015 $ 63,113 $ 30,883 $ 104,549 $ 198,545 Balance as of June 30, 2016 $ 63,113 $ 30,883 $ 104,549 $ 198,545 Intangible assets consist of the value of contract-related assets, acquired technologies and trade names. Amortization expense was approximately $4.0 million and $8.0 million for the three and six months ended June 30, 2016 and approximately $4.1 million and $7.7 million for the three and six months ended June 30, 2015, respectively. Intangible assets were comprised of the following (in thousands): Cost Accumulated Amortization Accumulated Impairment Loss Net Intangible Assets June 30, 2016 Contract and customer-related $ 173,084 $ (53,211 ) $ (1,025 ) $ 118,848 Acquired technologies 12,400 (5,715 ) - 6,685 Trade names – amortizable 16,730 (7,261 ) - 9,469 Total $ 202,214 $ (66,187 ) $ (1,025 ) $ 135,002 December 31, 2015 Contract and customer-related $ 173,084 $ (46,611 ) $ (1,025 ) $ 125,448 Acquired technologies 12,400 (5,151 ) - 7,249 Trade names – amortizable 16,730 (6,384 ) - 10,346 Total $ 202,214 $ (58,146 ) $ (1,025 ) $ 143,043

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2016
Fair Value Measurements [Abstract]
Fair Value Measurements	(8) Fair Value Measurements The accounting standard for fair value measurements defines fair value, and establishes a market-based framework or hierarchy for measuring fair value. The standard is applicable whenever assets and liabilities are measured at fair value. The fair value hierarchy established in the standard prioritizes the inputs used in valuation techniques into three levels as follows: Level 1–Observable inputs–quoted prices in active markets for identical assets and liabilities; Level 2–Observable inputs-other than the quoted prices in active markets for identical assets and liabilities–includes quoted prices for similar instruments, quoted prices for identical or similar instruments in inactive markets and amounts derived from valuation models where all significant inputs are observable in active markets; and Level 3–Unobservable inputs–includes amounts derived from valuation models where one or more significant inputs are unobservable and require us to develop relevant assumptions. Amounts Recorded at Fair Value Financial Statement Classification Fair Value Hierarchy Fair Value June 30, 2016 Fair Value December 31, 2015 Non-COLI assets held in Deferred Supplemental Compensation Plan Other assets Level 1 $ 281 $ 264 Interest rate swaps Accrued expenses Level 2 $ 1,053 $ 123 Earn-out obligation-current Current portion of earn-out obligation Level 3 $ 10,500 $ 9,678 Earn-out obligation-long-term Earn-out obligation Level 3 - $ 10,166 Changes in the fair value of the Non-COLI assets held in the deferred supplemental compensation plan, as well as changes in the related deferred compensation obligation, are recorded as selling, general and administrative expenses. We account for our interest rate swap agreements under the provisions of ASC 815, and have determined that our swap agreements qualify as highly effective cash flow hedges. Accordingly, the fair value of the swap agreements, which is a liability of approximately $1.1 million and $123 thousand at June 30, 2016 and December 31, 2015, respectively, has been classified in accrued expenses. The offset, net of an income tax effect of approximately $405 thousand and $48 thousand is included in accumulated other comprehensive loss as of June 30, 2016 and December 31, 2015, respectively. The amounts paid and received on the swap agreements are recorded in interest expense in the period during which the related floating-rate interest is incurred. We determine the fair value of the swap agreements based on a valuation model using primarily observable market data inputs. We utilized a probability-weighted discounted cash flow method to determine the fair value of our Aviation Acquisition earn-out obligation at December 31, 2015. Probabilities were applied to each potential pay-out scenario and the resulting values were discounted using a rate that considered our weighted average cost of capital, as well as a specific risk premium associated with the riskiness of the earn out itself, the related projections, and the overall business. Significant unobservable inputs used to value the contingent consideration included projected earnings before interest, taxes, depreciation and amortization and the discount rate. The fair value earn-out obligation at June 30, 2016 was based on the July 2016 agreement made with the sellers. (see Note 2, Acquisitions, for a discussion of the termination in July 2016 of our Aviation Acquisition post-closing earn-out obligation, including the final payment of $10.5 million made in respect thereof). The fair value of the earn-out obligation increased approximately $55 thousand for the three months ended June 30, 2016 and decreased approximately $1.3 million for the six months ended June 30, 2016. The following table provides a reconciliation of the beginning and ending balance of the earn-out obligation measured at fair value on a recurring basis that used significant unobservable inputs (Level 3). Current portion Long-term portion Total Balance as of December 31, 2015 $ 9,678 $ 10,166 $ 19,844 Earn-out payments (8,015 ) - (8,015 ) Fair value adjustment included in net income (1,608 ) 279 (1,329 ) Reclassification from long-term to current 10,445 (10,445 ) - Balance as of June 30, 2016 $ 10,500 $ - $ 10,500

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2016
Income Taxes [Abstract]
Income Taxes	(9) Income Taxes Our effective tax rate was 36.5% and 39.3% for the six months ended June 30, 2016 and 2015, respectively. Income tax expense during interim periods is based on our estimated annual effective income tax rate plus any discrete items that are recorded in the period in which they occur. Our tax rate is affected by discrete items that may occur in any given year, but may not be consistent from year to year. The lower effective tax rate for the six months ended June 30, 2016 is primarily due to fair value changes of $1.3 million to the earn-out obligation and tax credits. The higher effective tax rate for the six months ended June 30, 2015 is primarily due to approximately $900 thousand of transaction costs that were not deductible for tax purposes.

Recently Issued Accounting Pron

Recently Issued Accounting Pronouncements	6 Months Ended
	Jun. 30, 2016
Recently Issued Accounting Pronouncements [Abstract]
Recently Issued Accounting Pronouncements	(10) Recently Issued Accounting Pronouncements In November 2015, the Financial Accounting Standards Board (" ") (" ") Balance Sheet Classification of Deferred Taxes The adoption of ASU 2015-17 did not impact our consolidated financial position, results of operations or cash flows. In April 2015, the FASB issued ASU No. 2015-03, Simplifying the Presentation of Debt Issuance Costs. In June 2016, the FASB issued ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments, which changes the methodology for measuring credit losses on financial instruments and the timing of when such losses are recorded. The new standard is effective for reporting periods beginning after December 15, 2019 with early adoption permitted for reporting periods beginning after December 15, 2018. In March 2016, the FASB issued ASU No. 2016-09 , Improvements to Employee Share-Based Payment Accounting The new standard is effective for reporting periods beginning after December 15, 2016 with early adoption permitted . In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842 ) , The new standard is reporting periods beginning after December 15, 2018 with early In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to fulfill a contract. The effective date of the ASU was recently deferred to the interim and annual periods beginning on or after December 15, 2017. Early adoption is permitted as of the original effective date–interim and annual periods beginning on or after December 15, 2016. We currently are assessing the impact that this standard will have on our consolidated financial statements.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Basic earnings per share (“EPS”) has been computed by dividing net income by the weighted average number of shares of common stock outstanding during each period. Shares issued during the period are weighted for the portion of the period that they were outstanding. Our calculation of diluted earnings per common share includes the dilutive effects for an assumed vesting of restricted stock awards. Three months Six months ended June 30, ended June 30, 2016 2015 2016 2015 Basic weighted average common shares outstanding 5,399,342 5,374,863 5,394,345 5,372,293 Effect of dilutive shares 13,903 15,958 13,908 13,255 Diluted weighted average common shares outstanding 5,413,245 5,390,821 5,408,253 5,385,548
Pro forma Earnings Per Share	Pro forma earnings per share is as follows, giving retroactive effect to the stock split: Three months Six months ended June 30, ended June 30, 2016 2015 2016 2015 Earnings per share: Basic – as reported $ 1.11 $ 1.02 $ 2.32 $ 1.99 Basic – pro forma $ 0.55 $ 0.51 $ 1.16 $ 1.00 Diluted – as reported $ 1.10 $ 1.02 $ 2.32 $ 1.99 Diluted – pro forma $ 0.55 $ 0.51 $ 1.16 $ 0.99 Weighted average common shares outstanding: Basic – as reported 5,399,342 5,374,863 5,394,345 5,372,293 Basic – pro forma 10,798,684 10,749,726 10,788,691 10,744,586 Diluted – as reported 5,413,245 5,390,821 5,408,253 5,385,548 Diluted – pro forma 10,826,490 10,781,642 10,816,507 10,771,096

Business Segments and Custome18

Business Segments and Customer Information (Tables)	6 Months Ended
	Jun. 30, 2016
Business Segments and Customer Information [Abstract]
Segment Information	Our segment information for the three and six months ended June 30, 2016 and 2015 is as follows (in thousands): Three months Six months 2016 2015 2016 2015 Revenues: Supply Chain Management Group $ 49,785 $ 47,872 $ 100,928 $ 94,114 Aviation Group 32,064 31,904 65,610 54,668 Federal Services Group 66,587 37,742 114,302 75,534 IT, Energy and Management Consulting Group 12,037 13,608 23,269 27,601 Total revenues $ 160,473 $ 131,126 $ 304,109 $ 251,917 Operating income: Supply Chain Management Group $ 8,823 $ 8,681 $ 17,851 $ 16,987 Aviation Group 2,657 2,604 5,946 4,717 Federal Services Group 1,046 (356 ) 1,717 (623 ) 786 1,488 1,674 2,703 Corporate/unallocated expenses (1,433 ) (921 ) (2,568 ) (1,604 ) Operating income $ 11,879 $ 11,496 $ 24,620 $ 22,180
Revenue by Customer	Our revenue by customer is as follows (dollars in thousands): Three months ended June 30, Six months ended June 30, 2016 % 2015 % 2016 % 2015 % Customer U.S. Postal Service $ 44,295 27.6 $ 45,339 34.5 $ 90,592 29.8 $ 89,519 35.5 U.S. Navy 36,569 22.8 22,607 17.2 66,460 21.9 44,004 17.4 U.S. Army 34,291 21.4 18,557 14.2 56,501 18.5 37,728 15.0 U.S. Air Force 876 0.5 924 0.7 1,857 0.6 1,714 0.7 Total - DoD 71,736 44.7 42,088 32.1 124,818 41.0 83,446 33.1 Commercial aviation 32,064 20.0 31,904 24.3 65,610 21.6 54,668 21.7 Other commercial 2,804 1.7 1,760 1.4 5,087 1.7 2,967 1.2 Total - Commercial 34,868 21.7 33,664 25.7 70,697 23.3 57,635 22.9 Department of Energy 3,006 1.9 4,662 3.6 5,909 1.9 9,106 3.6 Social Security Administration 2,463 1.5 2,271 1.7 5,050 1.7 4,721 1.9 Other government 4,105 2.6 3,102 2.4 7,043 2.3 7,490 3.0 Total – Other Civilian Agencies 9,574 6.0 10,035 7.7 18,002 5.9 21,317 8.5 Total $ 160,473 100 $ 131,126 100 $ 304,109 100 $ 251,917 100

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2016
Goodwill and Intangible Assets [Abstract]
Goodwill by Operating Segment	Goodwill by operating segment is as follows (in thousands): Supply Chain Management IT, Energy and Management Consulting Aviation Total Balance as of December 31, 2015 $ 63,113 $ 30,883 $ 104,549 $ 198,545 Balance as of June 30, 2016 $ 63,113 $ 30,883 $ 104,549 $ 198,545
Schedule of Intangible Assets	Intangible assets were comprised of the following (in thousands): Cost Accumulated Amortization Accumulated Impairment Loss Net Intangible Assets June 30, 2016 Contract and customer-related $ 173,084 $ (53,211 ) $ (1,025 ) $ 118,848 Acquired technologies 12,400 (5,715 ) - 6,685 Trade names – amortizable 16,730 (7,261 ) - 9,469 Total $ 202,214 $ (66,187 ) $ (1,025 ) $ 135,002 December 31, 2015 Contract and customer-related $ 173,084 $ (46,611 ) $ (1,025 ) $ 125,448 Acquired technologies 12,400 (5,151 ) - 7,249 Trade names – amortizable 16,730 (6,384 ) - 10,346 Total $ 202,214 $ (58,146 ) $ (1,025 ) $ 143,043

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2016
Fair Value Measurements [Abstract]
Fair Value of Assets and Liabilities	The following table summarizes the financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2016 and December 31, 2015 and the level they fall within the fair value hierarchy (in thousands): Amounts Recorded at Fair Value Financial Statement Classification Fair Value Hierarchy Fair Value June 30, 2016 Fair Value December 31, 2015 Non-COLI assets held in Deferred Supplemental Compensation Plan Other assets Level 1 $ 281 $ 264 Interest rate swaps Accrued expenses Level 2 $ 1,053 $ 123 Earn-out obligation-current Current portion of earn-out obligation Level 3 $ 10,500 $ 9,678 Earn-out obligation-long-term Earn-out obligation Level 3 - $ 10,166
Fair Value Reconciliation, Unobservable Inputs	The following table provides a reconciliation of the beginning and ending balance of the earn-out obligation measured at fair value on a recurring basis that used significant unobservable inputs (Level 3). Current portion Long-term portion Total Balance as of December 31, 2015 $ 9,678 $ 10,166 $ 19,844 Earn-out payments (8,015 ) - (8,015 ) Fair value adjustment included in net income (1,608 ) 279 (1,329 ) Reclassification from long-term to current 10,445 (10,445 ) - Balance as of June 30, 2016 $ 10,500 $ - $ 10,500

Nature of Business and Basis 21

Nature of Business and Basis of Presentation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Product Information [Line Items]
Amortization of intangible assets	$ 4,021	$ 4,101	$ 8,041	$ 7,742
Products [Member]
Product Information [Line Items]
Amortization of intangible assets		3,600		6,800
Services [Member]
Product Information [Line Items]
Amortization of intangible assets		$ 449		$ 935

Acquisitions (Details)

Acquisitions (Details) $ in Thousands	Jul. 31, 2016USD ($)	Jan. 28, 2015Business	May 31, 2016USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Business Acquisition [Line Items]
Goodwill				$ 198,545		$ 198,545
Earn-out obligation payments				$ 8,015	$ 0
Ultra Seating [Member]
Business Acquisition [Line Items]
Percentage of business acquired						100.00%
Initial purchase consideration paid						$ 3,800
Goodwill						1,900
Ultra Seating [Member] | Customer Relationships [Member]
Business Acquisition [Line Items]
Intangible assets						$ 1,500
Aviation Group [Member]
Business Acquisition [Line Items]
Percentage of business acquired		100.00%
Number of businesses acquired | Business		4
Earn-out obligation payments			$ 8,000
Aviation Group [Member] | Subsequent Event [Member]
Business Acquisition [Line Items]
Earn-out obligation payments	$ 10,500

Debt (Details)

Debt (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Debt Instrument [Line Items]
Debt outstanding	$ 234		$ 234		$ 235
Deferred financing costs	1.9		$ 1.9		2.2
LIBOR [Member]
Debt Instrument [Line Items]
Base margin			2.25%
Base Rate [Member]
Debt Instrument [Line Items]
Base margin			1.00%
Amended and Restated [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date			Jan. 28, 2020
Financing costs	$ 2.7		$ 2.7
Amortization period of debt issuance costs			5 years
Revolving loans potential increment in maximum borrowing capacity			$ 75
Duration of interest rate cash flow hedge	3 years
Effective interest rate	3.13%		3.13%
Interest expense, net	$ 1.9	$ 1.9	$ 3.8	$ 3.4
Amended and Restated [Member] | Maximum [Member]
Debt Instrument [Line Items]
Interest rate range	4.50%		4.50%
Amended and Restated [Member] | Minimum [Member]
Debt Instrument [Line Items]
Interest rate range	2.69%		2.69%
Amended and Restated [Member] | Swap [Member]
Debt Instrument [Line Items]
Derivative notional amount	$ 100		$ 100
Term Loan Facility [Member]
Debt Instrument [Line Items]
Borrowings outstanding	125.3		125.3
Long-term Debt, Fiscal Year Maturity [Abstract]
Term loan payments 2016	9.4		9.4
Term loan payments 2017	21.6		21.6
Term loan payments 2018	28.1		28.1
Term loan payments 2019	30		30
Term loan payments 2020	36.2		36.2
Revolving Loan Facility [Member]
Debt Instrument [Line Items]
Revolving loans maximum borrowing capacity	150		150
Revolving loans amount outstanding	109		109		101
Letters of credit outstanding	$ 0		$ 0		$ 0

Earnings Per Share (Details)

Earnings Per Share (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2016$ / sharesshares	Jun. 30, 2015$ / sharesshares	Jun. 30, 2016$ / sharesshares	Jun. 30, 2015$ / sharesshares	Aug. 03, 2016shares	Dec. 31, 2015shares
Earnings Per Share [Abstract]
Basic weighted average common shares outstanding (in shares)	5,399,342	5,374,863	5,394,345	5,372,293
Effect of dilutive shares (in shares)	13,903	15,958	13,908	13,255
Diluted weighted average common shares outstanding (in shares)	5,413,245	5,390,821	5,408,253	5,385,548
Earnings Per Share [Line Items]
Stock split ratio			2
Common stock, issued (in shares)	5,399,342		5,399,342			5,375,532
Common stock, outstanding (in shares)	5,399,342		5,399,342			5,375,532
Earnings Per Share [Abstract]
Basic - as reported (in dollars per share) | $ / shares	$ 1.11	$ 1.02	$ 2.32	$ 1.99
Basic - pro forma (in dollars per share) | $ / shares	0.55	0.51	1.16	1
Diluted - as reported (in dollars per share) | $ / shares	1.10	1.02	2.32	1.99
Diluted - pro forma (in dollars per share) | $ / shares	$ 0.55	$ 0.51	$ 1.16	$ 0.99
Weighted Average Common Shares Outstanding [Abstract]
Basic - as reported (in shares)	5,399,342	5,374,863	5,394,345	5,372,293
Basic - pro forma (in shares)	10,798,684	10,749,726	10,788,691	10,744,586
Diluted - as reported (in shares)	5,413,245	5,390,821	5,408,253	5,385,548
Diluted - pro forma (in shares)	10,826,490	10,781,642	10,816,507	10,771,096
Subsequent Event [Member]
Earnings Per Share [Line Items]
Common stock, issued (in shares)					10,800,000
Common stock, outstanding (in shares)					10,800,000

Commitments and Contingencies -

Commitments and Contingencies - (Details) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2016USD ($)	Jun. 30, 2016USD ($)ProjectSubcontractor	Mar. 31, 2016USD ($)
Commitments [Abstract]
Number of bonded projects | Project		1
Aggregate bonded amount			$ 3
Contingencies [Abstract]
Number of deaths of subcontractor employees | Subcontractor		5
Number of subcontractors for lawsuits filed | Subcontractor		2
Heritage Disposal and Storage [Member]
Contingencies [Abstract]
Litigation settlement amount		$ 4.8
Litigation settlement over estimated amount	$ 1.5	1.5
Loss contingency reserve	1.2
Heritage Disposal and Storage [Member] | Minimum [Member]
Contingencies [Abstract]
Loss contingency range of possible loss	1.2	1.2
Heritage Disposal and Storage [Member] | Maximum [Member]
Contingencies [Abstract]
Loss contingency range of possible loss	$ 5.5	$ 5.5

Business Segments and Custome26

Business Segments and Customer Information (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)Segment	Jun. 30, 2015USD ($)
Segment Reporting Information [Line Items]
Number of reportable operating segments | Segment			4
Revenues	$ 160,473	$ 131,126	$ 304,109	$ 251,917
Operating income	11,879	11,496	24,620	22,180
Corporate/Unallocated Expenses [Member]
Segment Reporting Information [Line Items]
Operating income	(1,433)	(921)	(2,568)	(1,604)
Operating Segments [Member] | Supply Chain Management Group [Member]
Segment Reporting Information [Line Items]
Revenues	49,785	47,872	100,928	94,114
Operating income	8,823	8,681	17,851	16,987
Operating Segments [Member] | Aviation Group [Member]
Segment Reporting Information [Line Items]
Revenues	32,064	31,904	65,610	54,668
Operating income	2,657	2,604	5,946	4,717
Operating Segments [Member] | Federal Services Group [Member]
Segment Reporting Information [Line Items]
Revenues	66,587	37,742	114,302	75,534
Operating income	1,046	(356)	1,717	(623)
Operating Segments [Member] | IT, Energy and Management Consulting Group [Member]
Segment Reporting Information [Line Items]
Revenues	12,037	13,608	23,269	27,601
Operating income	$ 786	$ 1,488	$ 1,674	$ 2,703

Business Segments and Custome27

Business Segments and Customer Information, Major Customers (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Revenue, Major Customer [Line Items]
Revenue	$ 160,473	$ 131,126	$ 304,109	$ 251,917
Percentage of revenue by customer	100.00%	100.00%	100.00%	100.00%
U.S. Postal Service [Member]
Revenue, Major Customer [Line Items]
Revenue	$ 44,295	$ 45,339	$ 90,592	$ 89,519
Percentage of revenue by customer	27.60%	34.50%	29.80%	35.50%
U.S. Navy [Member]
Revenue, Major Customer [Line Items]
Revenue	$ 36,569	$ 22,607	$ 66,460	$ 44,004
Percentage of revenue by customer	22.80%	17.20%	21.90%	17.40%
U.S. Army [Member]
Revenue, Major Customer [Line Items]
Revenue	$ 34,291	$ 18,557	$ 56,501	$ 37,728
Percentage of revenue by customer	21.40%	14.20%	18.50%	15.00%
U.S. Air Force [Member]
Revenue, Major Customer [Line Items]
Revenue	$ 876	$ 924	$ 1,857	$ 1,714
Percentage of revenue by customer	0.50%	0.70%	0.60%	0.70%
Total Department of Defense [Member]
Revenue, Major Customer [Line Items]
Revenue	$ 71,736	$ 42,088	$ 124,818	$ 83,446
Percentage of revenue by customer	44.70%	32.10%	41.00%	33.10%
Commercial Aviation [Member]
Revenue, Major Customer [Line Items]
Revenue	$ 32,064	$ 31,904	$ 65,610	$ 54,668
Percentage of revenue by customer	20.00%	24.30%	21.60%	21.70%
Other Commercial [Member]
Revenue, Major Customer [Line Items]
Revenue	$ 2,804	$ 1,760	$ 5,087	$ 2,967
Percentage of revenue by customer	1.70%	1.40%	1.70%	1.20%
Total - Commercial [Member]
Revenue, Major Customer [Line Items]
Revenue	$ 34,868	$ 33,664	$ 70,697	$ 57,635
Percentage of revenue by customer	21.70%	25.70%	23.30%	22.90%
Department of Energy [Member]
Revenue, Major Customer [Line Items]
Revenue	$ 3,006	$ 4,662	$ 5,909	$ 9,106
Percentage of revenue by customer	1.90%	3.60%	1.90%	3.60%
Social Security Administration [Member]
Revenue, Major Customer [Line Items]
Revenue	$ 2,463	$ 2,271	$ 5,050	$ 4,721
Percentage of revenue by customer	1.50%	1.70%	1.70%	1.90%
Other Government [Member]
Revenue, Major Customer [Line Items]
Revenue	$ 4,105	$ 3,102	$ 7,043	$ 7,490
Percentage of revenue by customer	2.60%	2.40%	2.30%	3.00%
Total - Other Civilian Agencies [Member]
Revenue, Major Customer [Line Items]
Revenue	$ 9,574	$ 10,035	$ 18,002	$ 21,317
Percentage of revenue by customer	6.00%	7.70%	5.90%	8.50%

Goodwill and Intangible Asset28

Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Goodwill [Roll Forward]
Balance as of beginning of period			$ 198,545
Balance as of end of period	$ 198,545		198,545
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	4,000	$ 4,100	8,000	$ 7,700
Finite-Lived Intangible Assets, Net [Abstract]
Cost	202,214		202,214		$ 202,214
Accumulated Amortization	(66,187)		(66,187)		(58,146)
Accumulated Impairment Loss	(1,025)		(1,025)		(1,025)
Net Intangible Assets	135,002		135,002		143,043
Supply Chain Management Group [Member]
Goodwill [Roll Forward]
Balance as of beginning of period			63,113
Balance as of end of period	63,113		63,113
IT, Energy and Management Consulting [Member]
Goodwill [Roll Forward]
Balance as of beginning of period			30,883
Balance as of end of period	30,883		30,883
Aviation Group [Member]
Goodwill [Roll Forward]
Balance as of beginning of period			104,549
Balance as of end of period	104,549		104,549
Contract and Customer-Related [Member]
Finite-Lived Intangible Assets, Net [Abstract]
Cost	173,084		173,084		173,084
Accumulated Amortization	(53,211)		(53,211)		(46,611)
Accumulated Impairment Loss	(1,025)		(1,025)		(1,025)
Net Intangible Assets	118,848		118,848		125,448
Acquired Technologies [Member]
Finite-Lived Intangible Assets, Net [Abstract]
Cost	12,400		12,400		12,400
Accumulated Amortization	(5,715)		(5,715)		(5,151)
Accumulated Impairment Loss	0		0		0
Net Intangible Assets	6,685		6,685		7,249
Trade Names - Amortizable [Member]
Finite-Lived Intangible Assets, Net [Abstract]
Cost	16,730		16,730		16,730
Accumulated Amortization	(7,261)		(7,261)		(6,384)
Accumulated Impairment Loss	0		0		0
Net Intangible Assets	$ 9,469		$ 9,469		$ 10,346

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Earn-out obligations - current	$ 10,500	$ 10,500	$ 9,678
Earn-out obligation - long-term	0	0	10,166
Income tax expense benefit on interest rate swap		405	48
Aviation Acquisitions [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Increase decrease in earn-out obligations	55	(1,300)
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Other Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Non-COLI assets held in Deferred Supplemental Compensation Plan	281	281	264
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Accrued Expenses [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps	1,053	1,053	123
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Current Portion of Earn-out Obligation [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Earn-out obligations - current	10,500	10,500	9,678
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Earn-out Obligation[Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Earn-out obligation - long-term	$ 0	$ 0	$ 10,166

Fair Value Measurements, Unobse

Fair Value Measurements, Unobservable Input Reconciliation (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2016USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value adjustment included in net income	$ 1,300
Fair Value, Measurements, Recurring [Member] | Level 3 [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance as of beginning of the period	19,844
Earn-out payments	(8,015)
Fair value adjustment included in net income	(1,329)
Reclassification from long-term to current	0
Balance as of ending of the period	10,500
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Current Portion [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance as of beginning of the period	9,678
Earn-out payments	(8,015)
Fair value adjustment included in net income	(1,608)
Reclassification from long-term to current	10,445
Balance as of ending of the period	10,500
Fair Value, Measurements, Recurring [Member] | Level 3 [Member] | Long-term Portion [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance as of beginning of the period	10,166
Earn-out payments	0
Fair value adjustment included in net income	279
Reclassification from long-term to current	(10,445)
Balance as of ending of the period	$ 0

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Income Taxes [Abstract]
Effective income tax rate	36.50%	39.30%
Earn-out obligation due to changes in fair value	$ 1,300
Transaction costs that were not deductible for tax purposes		$ 900

Recently Issued Accounting Pr32

Recently Issued Accounting Pronouncements (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Current portion of long-term debt	$ 19,148	$ 17,272
Long-term debt, less current portion	$ 212,909	215,243
Accounting Standards Update 2015-17 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Long-term deferred tax liabilities		3,600
ASU 2015-03 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Current portion of long-term debt		285
Long-term debt, less current portion		$ 882