Maximus (MMS) 10-Q5 May 222022 Q2 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	6 Months Ended
Cover Page - shares	Mar. 31, 2022	May 02, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	1-12997
Entity Registrant Name	Maximus, Inc.
Entity Incorporation, State or Country Code	VA
Entity Tax Identification Number	54-1000588
Entity Address, Address Line One	1600 Tysons Boulevard
Entity Address, City or Town	McLean
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	22102
City Area Code	703
Local Phone Number	251-8500
Title of 12(b) Security	Common Stock, no par value
Trading Symbol	MMS
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Reporting Company	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		61,412,807
Entity Central Index Key	0001032220
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--09-30
Document Fiscal Period Focus	Q2
Amendment Flag	false
Former Address
Document Information [Line Items]
Entity Address, Address Line One	1891 Metro Center Drive
Entity Address, City or Town	Reston
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	20190

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Revenue	$ 1,177,326	$ 959,280	$ 2,328,202	$ 1,904,834
Cost of revenue	948,875	728,622	1,871,596	1,468,121
Gross profit	228,451	230,658	456,606	436,713
Selling, general, and administrative expenses	130,307	112,402	254,528	224,369
Amortization of intangible assets	22,856	5,070	45,261	11,586
Operating income	75,288	113,186	156,817	200,758
Interest expense	(9,438)	(756)	(19,076)	(962)
Other income/(expense), net	715	(520)	404	(1,295)
Income before income taxes	66,565	111,910	138,145	198,501
Provision for income taxes	16,469	31,296	34,719	53,810
Net income	$ 50,096	$ 80,614	$ 103,426	$ 144,691
Earnings per share:
Basic (in dollars per share)	$ 0.81	$ 1.30	$ 1.66	$ 2.33
Diluted (in dollars per share)	$ 0.80	$ 1.29	$ 1.66	$ 2.33
Weighted average shares outstanding:
Basic (in shares)	62,227	62,026	62,256	62,022
Diluted (in shares)	62,381	62,294	62,409	62,212
Dividends declared per share (in dollars per share)	$ 0.28	$ 0.28	$ 0.56	$ 0.56

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 50,096	$ 80,614	$ 103,426	$ 144,691
Other comprehensive income, net of tax:
Foreign currency translation adjustments	(23)	770	436	7,693
Net gains on cash flow hedge, net of tax	10,689	0	13,374	0
Other comprehensive income	10,666	770	13,810	7,693
Comprehensive income	$ 60,762	$ 81,384	$ 117,236	$ 152,384

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2022	Sep. 30, 2021
Assets:
Cash and cash equivalents	$ 92,638	$ 135,061
Accounts receivable, net	885,685	834,819
Income taxes receivable	14,757	5,413
Prepaid expenses and other current assets	97,420	104,201
Total current assets	1,090,500	1,079,494
Property and equipment, net	57,945	62,627
Capitalized software, net	42,877	42,868
Operating lease right-of-use assets	160,183	179,349
Goodwill	1,780,370	1,774,406
Intangible assets, net	851,564	879,168
Deferred contract costs, net	42,813	36,486
Deferred compensation plan assets	44,773	46,738
Deferred income taxes	2,635	990
Other assets	34,036	16,839
Total assets	4,107,696	4,118,965
Liabilities:
Accounts payable and accrued liabilities	302,912	305,565
Accrued compensation and benefits	142,512	186,809
Deferred revenue, current portion	122,070	98,588
Income taxes payable	3,883	6,782
Long-term debt, current portion	59,911	80,555
Operating lease liabilities, current portion	70,731	76,077
Other current liabilities	51,247	35,057
Total current liabilities	753,266	789,433
Deferred revenue, non-current portion	30,429	35,932
Deferred income taxes	198,848	194,638
Long-term debt, non-current portion	1,387,386	1,429,137
Deferred compensation plan liabilities, non-current portion	44,923	47,405
Operating lease liabilities, non-current portion	106,670	121,771
Other liabilities	31,958	20,320
Total liabilities	2,553,480	2,638,636
Commitments and contingencies
Shareholders' equity:
Common stock, no par value; 100,000 shares authorized; 61,610 and 61,954 shares issued and outstanding as of March 31, 2022 and September 30, 2021, respectively (shares in thousands)	550,228	532,411
Accumulated other comprehensive loss	(26,098)	(39,908)
Retained earnings	1,030,086	987,826
Total shareholders' equity	1,554,216	1,480,329
Total liabilities and shareholders' equity	$ 4,107,696	$ 4,118,965

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - shares	Mar. 31, 2022	Sep. 30, 2021
Statement of Financial Position [Abstract]
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	61,610,000	61,954,000
Common stock, shares outstanding (in shares)	61,610,000	61,954,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities:
Net income	$ 103,426	$ 144,691
Adjustments to reconcile net income to cash flows from operating activities:
Depreciation and amortization of property, equipment and capitalized software	21,199	22,835
Amortization of intangible assets	45,261	11,586
Amortization of debt issuance costs and debt discount	1,297	0
Deferred income taxes	(3,318)	7,951
Stock compensation expense	15,052	13,479
Change in assets and liabilities, net of effects of business combinations:
Accounts receivable	(49,064)	70,217
Prepaid expenses and other current assets	9,769	8,074
Deferred contract costs	(6,431)	(9,184)
Accounts payable and accrued liabilities	(3,047)	12,395
Accrued compensation and benefits	(28,281)	(16,761)
Deferred revenue	18,473	13,296
Income taxes	(13,515)	3,230
Operating lease right-of-use assets and liabilities	(1,293)	(414)
Other assets and liabilities	2,331	(1,697)
Net cash provided by operating activities	111,859	279,698
Cash flows from investing activities:
Purchases of property and equipment and capitalized software	(22,898)	(23,584)
Acquisitions of businesses, net of cash acquired	(4)	(413,940)
Net cash used in investing activities	(22,902)	(437,524)
Cash flows from financing activities:
Cash dividends paid to Maximus shareholders	(34,659)	(34,414)
Purchases of Maximus common stock	(25,843)	(3,363)
Tax withholding related to RSU vesting	(9,673)	(9,818)
Proceeds from borrowings	240,000	500,162
Principal payments for debt	(303,708)	(263,838)
Other	0	(2,762)
Net cash (used in)/provided by financing activities	(133,883)	185,967
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	324	3,263
Net change in cash, cash equivalents, and restricted cash	(44,602)	31,404
Cash, cash equivalents and restricted cash, beginning of period	156,570	88,561
Cash, cash equivalents and restricted cash, end of period	$ 111,968	$ 119,965

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Accumulated Other Comprehensive Loss	Retained Earnings
Balance (in shares) at Sep. 30, 2020		61,504
Beginning balance at Sep. 30, 2020	$ 1,241,819	$ 513,959	$ (42,638)	$ 770,498
Increase (Decrease) in Shareholders' Equity
Net income	64,077			64,077
Foreign currency translation	6,923		6,923
Cash dividends	(17,207)			(17,207)
Dividends on RSUs	0	$ 336		(336)
Purchases of Maximus common stock (in shares)		(52)
Purchases of Maximus common stock	(3,363)			(3,363)
Stock compensation expense	6,062	$ 6,062
Balance (in shares) at Dec. 31, 2020		61,452
Ending balance at Dec. 31, 2020	1,298,311	$ 520,357	(35,715)	813,669
Balance (in shares) at Sep. 30, 2020		61,504
Beginning balance at Sep. 30, 2020	1,241,819	$ 513,959	(42,638)	770,498
Increase (Decrease) in Shareholders' Equity
Net income	144,691
Foreign currency translation	7,693
Cash flow hedge, net of tax	$ 0
Purchases of Maximus common stock (in shares)	(52)
Purchases of Maximus common stock	$ (3,363)
Balance (in shares) at Mar. 31, 2021		61,472
Ending balance at Mar. 31, 2021	1,369,905	$ 528,205	(34,945)	876,645
Balance (in shares) at Dec. 31, 2020		61,452
Beginning balance at Dec. 31, 2020	1,298,311	$ 520,357	(35,715)	813,669
Increase (Decrease) in Shareholders' Equity
Net income	80,614			80,614
Foreign currency translation	770		770
Cash flow hedge, net of tax	0
Cash dividends	(17,207)			(17,207)
Dividends on RSUs	$ 0	431		(431)
Purchases of Maximus common stock (in shares)	0
Purchases of Maximus common stock	$ 0
Stock compensation expense	$ 7,417	$ 7,417
RSUs vested (in shares)	20
Balance (in shares) at Mar. 31, 2021		61,472
Ending balance at Mar. 31, 2021	$ 1,369,905	$ 528,205	(34,945)	876,645
Balance (in shares) at Sep. 30, 2021	61,954	61,954
Beginning balance at Sep. 30, 2021	$ 1,480,329	$ 532,411	(39,908)	987,826
Increase (Decrease) in Shareholders' Equity
Net income	53,330			53,330
Foreign currency translation	459		459
Cash flow hedge, net of tax	2,685		2,685
Cash dividends	(17,347)			(17,347)
Dividends on RSUs	0	$ 272		(272)
Purchases of Maximus common stock (in shares)		(18)
Purchases of Maximus common stock	(1,379)			(1,379)
Stock compensation expense	8,248	$ 8,248
Tax withholding adjustment related to RSU vesting	2,101	$ 2,101
Balance (in shares) at Dec. 31, 2021		61,936
Ending balance at Dec. 31, 2021	$ 1,528,426	$ 543,032	(36,764)	1,022,158
Balance (in shares) at Sep. 30, 2021	61,954	61,954
Beginning balance at Sep. 30, 2021	$ 1,480,329	$ 532,411	(39,908)	987,826
Increase (Decrease) in Shareholders' Equity
Net income	103,426
Foreign currency translation	436
Cash flow hedge, net of tax	$ 13,374
Purchases of Maximus common stock (in shares)	(348)
Purchases of Maximus common stock	$ (25,843)
Balance (in shares) at Mar. 31, 2022	61,610	61,610
Ending balance at Mar. 31, 2022	$ 1,554,216	$ 550,228	(26,098)	1,030,086
Balance (in shares) at Dec. 31, 2021		61,936
Beginning balance at Dec. 31, 2021	1,528,426	$ 543,032	(36,764)	1,022,158
Increase (Decrease) in Shareholders' Equity
Net income	50,096			50,096
Foreign currency translation	(23)		(23)
Cash flow hedge, net of tax	10,689		10,689
Cash dividends	(17,312)			(17,312)
Dividends on RSUs	$ 0	$ 392		(392)
Purchases of Maximus common stock (in shares)	(330)	(330)
Purchases of Maximus common stock	$ (24,464)			(24,464)
Stock compensation expense	$ 6,804	$ 6,804
RSUs vested (in shares)	4
Balance (in shares) at Mar. 31, 2022	61,610	61,610
Ending balance at Mar. 31, 2022	$ 1,554,216	$ 550,228	$ (26,098)	$ 1,030,086

Organization

Organization	6 Months Ended
Organization	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	ORGANIZATION Maximus, a Virginia corporation established in 1975, is a leading provider of government services worldwide. Maximus operates under its founding mission of Helping Government Serve the People ® , enabling citizens around the globe to successfully engage with their governments at all levels and across a variety of health and human services programs. Maximus delivers innovative business process management and technology solutions that contribute to improved outcomes for citizens and higher levels of productivity, accuracy, accountability, and efficiency of government-sponsored programs. Maximus is a proud partner to government agencies in the United States, Australia, Canada, Italy, Saudi Arabia, Singapore, South Korea, Sweden, and the United Kingdom.

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
Significant Accounting Policies	Mar. 31, 2022
Accounting Policies [Abstract]
Significant Accounting Policies	SIGNIFICANT ACCOUNTING POLICIES (a) Basis of Presentation The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries over which the Company has a controlling financial interest, and have been prepared in accordance with accounting principles generally accepted in the United States, or U.S. GAAP, and the rules and regulations of the U.S. Securities and Exchange Commission, or SEC. All intercompany balances and transactions have been eliminated in consolidation. (b) Basis of Presentation for Interim Periods Certain information and footnote disclosures normally included for the annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted for the interim periods presented. We believe that the unaudited interim financial statements include all adjustments (which are normal and recurring in nature) necessary to present fairly our financial position and the results of operations and cash flows for the periods presented. The results of operations for the interim periods presented are not necessarily indicative of results that may be expected for the year or future periods. The financial statements should be read in conjunction with our audited consolidated financial statements and the notes thereto for the year ended September 30, 2021 included in our Annual Report on Form 10-K for the fiscal year then ended (the "2021 10-K"). We have continued to follow the accounting policies set forth in those financial statements. (c) Estimates The preparation of these financial statements, in conformity with U.S. GAAP, requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent liabilities, and the reported amounts of revenue and expenses. At each reporting period end, we make estimates, including those related to revenue recognition and cost estimation on certain contracts, the realizability of goodwill, and amounts related to income taxes, certain accrued liabilities, and contingencies and litigation. We base our estimates on historical experience and expectations of the future that we believe to be reasonable. The economic and political effects of the COVID-19 global pandemic increase uncertainty, which has reduced our ability to use past results to estimate future performance. Accordingly, our estimates may be subject to greater volatility than has been the case in the past.

Business Segments

Business Segments	6 Months Ended
Business Segments	Mar. 31, 2022
Segment Reporting [Abstract]
Business Segments	BUSINESS SEGMENTS We conduct our operations through three business segments: U.S. Services, U.S. Federal Services, and Outside the U.S. U.S. Services Our U.S. Services Segment provides a variety of business process services ("BPS") such as program administration, appeals and assessments, and related consulting work for U.S. state and local government programs. These services support a variety of programs, including the Affordable Care Act ("ACA"), Medicaid, the Children's Health Insurance Program ("CHIP"), Temporary Assistance to Needy Families ("TANF"), and child support programs. Addressing societal macro trends such as aging populations and rising costs, the segment continues to execute on its clinical evolution strategy by expanding its clinical offerings. This includes assessments to determine whether personal care services are medically necessary and public health offerings such as contact tracing, disease investigation, and vaccine distribution support services as part of the governments' COVID-19 response efforts. U.S. Federal Services From technology solutions to program administration and operations, our U.S. Federal Services Segment delivers end-to-end solutions that help various U.S. federal government agencies better deliver on their mission. This also includes appeals and assessments services, system and application development, IT modernization, and maintenance services. The segment also contains certain state-based assessments and appeals work that is part of the segment's heritage within the Medicare Appeals portfolio which continues to be managed within this segment. Benefiting from the Maximus Federal Consulting (formerly Attain Federal) platform, the segment executes on its digital strategy to deliver technology solutions that advance agency missions, including the challenge to modernize, provide better customer experience, and drive process efficiencies. The segment continues to expand its clinical solutions with the acquisition of VES Group, Inc., which manages the clinical evaluation process for U.S. veterans and service members on behalf of the U.S. Department of Veterans Affairs. The segment further supports clinical offerings in public health with new work supporting the U.S. Federal Government's COVID-19 response efforts. This included expanded work with the Centers for Disease Control and Prevention ("CDC") for their helpline and increased support for the IRS Wage and Investment Division's response efforts to general inquiries regarding the Coronavirus Aid Relief & Economic Security ("CARES") Act and Economic Impact Payment Service Plan. Outside the U.S. Our Outside the U.S. Segment provides BPS for international governments and commercial clients, transforming the lives of people around the world. Helping people find employment, access vital support, and remain healthy, these services include health and disability assessments, program administration for employment services, wellbeing solutions, and other job seeker related services. We support programs and deliver services in the U.K., including the Health Assessment Advisory Service ("HAAS"), the Work & Health Programme, Fair Start, and Restart; Australia, including jobactive and the Disability Employment Service; Canada, including Health Insurance British Columbia and the Employment Program of British Columbia; in addition to Italy, Saudi Arabia, Singapore, South Korea, and Sweden, where we predominantly provide employment support and job seeker services. Table 3: Results of Operation by Business Segment For the Three Months Ended For the Six Months Ended March 31, 2022 March 31, 2021 March 31, 2022 March 31, 2021 Amount % (1) Amount % (1) Amount % (1) Amount % (1) (dollars in thousands) Revenue: U.S. Services $ 398,077 $ 448,215 $ 784,494 $ 833,149 U.S. Federal Services 573,288 330,136 1,155,159 735,381 Outside the U.S. 205,961 180,929 388,549 336,304 Revenue $ 1,177,326 $ 959,280 $ 2,328,202 $ 1,904,834 Gross profit: U.S. Services $ 84,971 21.3 % $ 119,440 26.6 % $ 174,670 22.3 % $ 218,442 26.2 % U.S. Federal Services 115,153 20.1 % 74,133 22.5 % 241,729 20.9 % 156,629 21.3 % Outside the U.S. 28,327 13.8 % 37,085 20.5 % 40,207 10.3 % 61,642 18.3 % Gross profit $ 228,451 19.4 % $ 230,658 24.0 % $ 456,606 19.6 % $ 436,713 22.9 % Selling, general, and administrative expenses: U.S. Services $ 38,273 9.6 % $ 36,593 8.2 % $ 73,375 9.4 % $ 74,049 8.9 % U.S. Federal Services 68,949 12.0 % 50,978 15.4 % 133,874 11.6 % 103,230 14.0 % Outside the U.S. 24,011 11.7 % 22,013 12.2 % 45,351 11.7 % 42,045 12.5 % Other (2) (926) NM 2,818 NM 1,928 NM 5,045 NM Selling, general, and administrative expenses $ 130,307 11.1 % $ 112,402 11.7 % $ 254,528 10.9 % $ 224,369 11.8 % Operating income/(loss): U.S. Services $ 46,698 11.7 % $ 82,847 18.5 % $ 101,295 12.9 % $ 144,393 17.3 % U.S. Federal Services 46,204 8.1 % 23,155 7.0 % 107,855 9.3 % 53,399 7.3 % Outside the U.S. 4,316 2.1 % 15,072 8.3 % (5,144) (1.3) % 19,597 5.8 % Amortization of intangible assets (22,856) NM (5,070) NM (45,261) NM (11,586) NM Other (2) 926 NM (2,818) NM (1,928) NM (5,045) NM Operating income/(loss) $ 75,288 6.4 % $ 113,186 11.8 % $ 156,817 6.7 % $ 200,758 10.5 % (1) Percentage of respective segment revenue. Percentages not considered meaningful are marked "NM." (2) Other selling, general, and administrative expenses includes costs that are not allocated to a particular segment. This includes expenses incurred as part of our acquisitions, as well as potential acquisitions which have not been or may not be completed.

Revenue Recognition

Revenue Recognition	6 Months Ended
Revenue Recognition	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue Recognition	REVENUE RECOGNITION The Company recognizes revenue as, or when, we satisfy performance obligations under a contract. The majority of our contracts have performance obligations which are satisfied over time. In most cases, we view our performance obligations as promises to transfer a series of distinct services to our customers that are substantially the same and which have the same pattern of service. Disaggregation of Revenue In addition to our segment reporting, we disaggregate our revenues by contract type, customer type, and geography. Our operating segments represent the manner in which our Chief Executive Officer reviews our financial results, which is further discussed in "Note 3. Business Segments." Table 4.1: Revenue by Contract Type For the Three Months Ended For the Six Months Ended March 31, 2022 March 31, 2021 March 31, 2022 March 31, 2021 Amount % Amount % Amount % Amount % (dollars in thousands) Performance-based $ 516,210 43.9 % $ 349,749 36.4 % $ 1,007,166 43.3 % $ 643,709 33.8 % Cost-plus 322,823 27.4 % 286,082 29.8 % 662,904 28.5 % 670,565 35.2 % Fixed price 158,867 13.5 % 146,344 15.3 % 310,372 13.3 % 267,121 14.0 % Time and materials 179,426 15.2 % 177,105 18.5 % 347,760 14.9 % 323,439 17.0 % Total revenue $ 1,177,326 $ 959,280 $ 2,328,202 $ 1,904,834 Table 4.2: Revenue by Customer Type For the Three Months Ended For the Six Months Ended March 31, 2022 March 31, 2021 March 31, 2022 March 31, 2021 Amount % Amount % Amount % Amount % (dollars in thousands) U.S. state government agencies $ 411,287 35.0 % $ 445,697 46.5 % $ 782,834 33.7 % $ 833,811 43.8 % U.S. federal government agencies 553,707 47.0 % 307,870 32.1 % 1,117,801 48.0 % 693,442 36.4 % International government agencies 194,800 16.5 % 171,700 17.9 % 366,175 15.7 % 319,042 16.7 % Other, including local municipalities and commercial customers 17,532 1.5 % 34,013 3.5 % 61,392 2.6 % 58,539 3.1 % Total revenue $ 1,177,326 $ 959,280 $ 2,328,202 $ 1,904,834 Table 4.3: Revenue by Geography For the Three Months Ended For the Six Months Ended March 31, 2022 March 31, 2021 March 31, 2022 March 31, 2021 Amount % Amount % Amount % Amount % (dollars in thousands) United States $ 971,365 82.5 % $ 778,350 81.1 % $ 1,939,653 83.3 % $ 1,568,529 82.3 % United Kingdom 107,898 9.1 % 72,882 7.6 % 193,705 8.3 % 137,668 7.2 % Australia 46,670 4.0 % 70,947 7.4 % 99,484 4.3 % 126,878 6.7 % Rest of world 51,393 4.4 % 37,101 3.9 % 95,360 4.1 % 71,759 3.8 % Total revenue $ 1,177,326 $ 959,280 $ 2,328,202 $ 1,904,834 Contract balances Differences in timing between revenue recognition and cash collection result in contract assets and contract liabilities. We classify these assets as accounts receivable — billed and billable and unbilled receivables; the liabilities are classified as deferred revenue. In many contracts, we bill our customers on a monthly basis shortly after the month end for work performed in that month. These balances are considered collectible and are included within accounts receivable — billed and billable. Exceptions to this pattern will arise for various reasons, including those listed below. • Under cost-plus contracts, we are typically required to estimate a contract's share of our general and administrative expenses. This share is based upon estimates of total costs which may vary over time. We typically invoice our customers at an agreed provisional billing rate which may differ from actual rates incurred. If our actual rates are higher than the provisional billing rates, an asset is recorded for this variance; if the provisional billing rates are higher than our actual rates, we record a liability. • Certain contracts include retainage balances, whereby revenue is earned but some portion of cash payments are held back by the customer for a period of time, typically to allow the customer to confirm the objective criteria laid out by the contract have been met. This balance is classified as accounts receivable — unbilled until restrictions on billing are lifted. As of March 31, 2022, and September 30, 2021, $12.6 million and $10.4 million, respectively, of our unbilled receivables related to amounts pursuant to contractual retainage provisions. • In certain contracts, we may receive funds from our customers prior to performing operations. These funds are typically referred to as "set-up costs" and reflect the need for us to make investments in infrastructure prior to providing a service. This investment in infrastructure is not a performance obligation which is distinct from the service that is subsequently provided and, as a result, revenue is not recognized based upon the establishment of this infrastructure, but rather over the course of the contractual relationship. The funds are initially recorded as deferred revenue and recognized over the term of the contract. Other contracts may not include set-up fees but will provide higher fees in earlier periods of the contract. The premium on these fees is deferred. • Some of our contracts, notably our employment services contracts in the Outside the U.S. Segment, include payments for desired outcomes, such as job placement and job retention, and these outcome payments occur over several months. We are required to estimate these outcome fees ahead of their realization and recognize this estimated fee over the period of delivery. During the three and six months ended March 31, 2022, we recognized revenue of $20.6 million and $61.8 million, respectively, that was included in our deferred revenue balances as of September 30, 2021. During the three and six months ended March 31, 2021, we recognized revenue of $15.2 million and $29.1 million, respectively, that was included in our deferred revenue balances at September 30, 2020. Contract estimates We are required to use estimates in recognizing revenue from some of our contracts. As discussed in "Note 2. Significant Accounting Policies," the calculation of these estimates has been complicated by the COVID-19 pandemic, which has reduced our ability to use past results to estimate future performance. Some of our performance-based contract revenue is recognized based upon future outcomes defined in each contract. This is the case in many of our employment services contracts in the Outside the U.S. Segment, where we are paid as individuals attain employment goals, which may take many months to achieve. We recognize revenue on these contracts over the period of performance. Our estimates vary from contract to contract but may include estimates of the number of participants, the length of the contract, and the participants reaching employment milestones. We are required to estimate these outcome fees ahead of their collection and recognize this estimated fee over the period of delivery. Changes to our estimates are recognized on a cumulative catch-up basis. Table 4.4: Effect of Changes in Contract Estimates For the Three Months Ended For the Six Months Ended March 31, 2022 March 31, 2021 March 31, 2022 March 31, 2021 (in thousands, except per share data) Benefit to/(reduction of) revenue recognized due to changes in contract estimates $ (1,369) $ 7,603 $ (4,215) $ 15,986 Benefit to/(reduction of) diluted earnings per share recognized due to changes in contract estimates $ (0.02) $ 0.09 $ (0.05) $ 0.19 Remaining performance obligations As of March 31, 2022, we had approximately $550 million of remaining performance obligations. We anticipate that we will recognize revenue on approximately 50% of this balance within the next 12 months. This balance excludes contracts with an original duration of twelve months or less, including contracts with a penalty-free termination for convenience clause, and any variable consideration which is allocated entirely to future performance obligations, including variable transaction fees or fees tied directly to costs incurred.

Earnings Per Share

Earnings Per Share	6 Months Ended
Earnings Per Share	Mar. 31, 2022
Earnings Per Share [Abstract]
Earnings Per Share	EARNINGS PER SHARE Table 5: Weighted Average Number of Shares - Earnings Per Share For the Three Months Ended For the Six Months Ended March 31, 2022 March 31, 2021 March 31, 2022 March 31, 2021 (in thousands) Basic weighted average shares outstanding 62,227 62,026 62,256 62,022 Dilutive effect of unvested RSUs and PSUs 154 268 153 190 Denominator for diluted earnings per share 62,381 62,294 62,409 62,212 Unvested anti-dilutive stock units excluded from the dilutive effect (stock units) 173 199 192 201

Business Combinations

Business Combinations	6 Months Ended
Business Combinations	Mar. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Business Combinations	BUSINESS COMBINATIONS VES Group, Inc. (VES) On May 28, 2021, the Company acquired 100% of VES for an estimated cash purchase price of $1.37 billion (the "VES Acquisition"). The final purchase price is subject to adjustment and is expected to be finalized during 2022. VES was integrated into our U.S. Federal Services Segment. The VES Acquisition also supports our ongoing strategic priority of expansion into the U.S. Federal market and accelerates our clinical evolution to meet long-term demand for BPS with a clinical dimension. As of March 31, 2022, we have completed our assessment of all acquired assets and liabilities assumed, with the exception of income taxes and the working capital true-up. Table 6.1: VES Valuation Allocation of Assets and Liabilities as of September 30, 2021 Adjustments Estimated Allocation (in thousands) Consideration paid: Cash consideration paid, net of cash acquired $ 1,360,231 $ — $ 1,360,231 Estimated additional cash payments 4,635 4,988 9,623 Estimated cash consideration, net of cash acquired 1,364,866 4,988 1,369,854 Assets acquired: Accounts receivable - billed, billable and unbilled $ 44,078 $ — $ 44,078 Prepaid expenses and other current assets 7,955 — 7,955 Property and equipment, net 9,113 (1,092) 8,021 Operating lease right-of-use assets 18,898 — 18,898 Intangible assets 664,000 — 664,000 Other assets 7,166 — 7,166 Total identifiable assets acquired 751,210 (1,092) 750,118 Liabilities assumed: Accounts payable and accrued compensation 42,182 (4,360) 37,822 Operating lease liabilities 18,898 — 18,898 Income taxes payable, current 5,673 — 5,673 Deferred income taxes 171,497 1,147 172,644 Other long-term liabilities 12,270 — 12,270 Total identifiable liabilities assumed 250,520 (3,213) 247,307 Net identifiable assets acquired 500,690 2,121 502,811 Goodwill 864,176 2,867 867,043 Net assets acquired $ 1,364,866 $ 4,988 $ 1,369,854 Goodwill represents the value of the assembled workforce and the enhanced knowledge, capabilities, and qualifications held by the business. This goodwill balance is not deductible for tax purposes. Our evaluation of the intangible assets acquired with VES identified three assets. The assets were valued using methods which required a number of estimates and, accordingly, they are considered Level 3 measurements within the Accounting Standard Codification No. 820 (ASC 820) fair value methodology. • Customer relationships represent the value of the existing contractual relationships with the U.S. federal government. These were valued using the excess earnings method, which required us to utilize estimated future revenues and earnings from contracts and an appropriate rate of return. • VES maintains a provider network of third-party providers that assist in the performance of their clinical services. This network was valued using the cost method and income approach, which included both the cost of recreating such a network and the profits foregone during the time which would be required to recreate the network and an appropriate rate of return. • VES maintained proprietary technology which interacted with U.S. Federal Government systems, facilitated the transmission of examination data, and supported the performance of the contracts. We valued the technology using a relief-from-royalty method, which required us to estimate future revenues and an arm's length royalty rate that a third-party provider might use to supply this service and an appropriate rate of return. Table 6.2: VES Intangible Asset Values and Useful Lives Estimated Straight-Line Useful Life Estimated Fair Value (in thousands) Customer contracts and relationships 12 years $ 580,000 Provider network 12 years 57,000 Technology-based intangible assets 12 years 27,000 Total intangible assets $ 664,000 In connection with certain liabilities acquired in the VES acquisition, we established a liability of $12.0 million for a billing dispute between VES and its customer relating to prior year billings. Our exposure was partially offset by an indemnification asset of $6.0 million. Following the VES Acquisition, the liability was confirmed at $12.0 million and we have recovered our share of the indemnification asset. We expect to settle the liability in the third quarter of fiscal year 2022. In addition, we established a tax liability of $12.3 million for uncertain tax positions within VES, partially offset by another indemnification asset of $7.2 million. Connect Assist Holdings Limited ("Connect Assist") On September 14, 2021, we acquired 100% of the share capital of Connect Assist for an estimated purchase price of $21.1 million (£15.5 million British Pounds). We acquired this business to improve our contact center services and qualifications within the United Kingdom. The business was integrated into our Outside the U.S. Segment. We have completed a preliminary assessment of all acquired assets and liabilities assumed. We recorded estimated goodwill and intangible assets of $11.3 million and $7.7 million, respectively, related to the acquisition. Aidvantage On October 6, 2021, we completed the acquisition of the student loan servicing business from Navient, rebranded as Aidvantage. The purchase price consideration is contingent upon future volumes, with a maximum payment of $65.0 million. The final payment is uncertain as there are a number of potential outcomes. We have estimated the fair value of this liability, based upon a probability weighted assessment of the potential outcomes, of $18.6 million. We will update this liability each quarter as changes are made to our estimate of fair value. These changes will be recorded through our statement of operations. If our obligation is less than anticipated, this will result in a benefit to our earnings. The obligation may be higher, either because the number of student loans we are servicing increases or if the contractual relationship we have acquired is extended beyond its current anticipated end date of December 31, 2023. In that instance, we would record an expense to earnings which we would anticipate being offset by additional benefits from the contract. However, the timing of the adjustment to the obligation and the anticipated financial benefits would be unlikely to be consistent. We recorded a single intangible asset related to the customer contract and relationship of $16.7 million, which we are amortizing over 27 months. The goodwill balance, representing the difference between the assets acquired and the estimated obligation, represents the assembled workforce, as well as the knowledge base acquired. This business is a part of our U.S. Federal Services Segment and supplements our existing portfolio of services to the U.S. Department of Education. During the three months ended March 31, 2022, we reported $47.0 million and $3.4 million of revenue and gross loss, respectively, from Aidvantage. During the six months ended March 31, 2022, we reported $81.7 million and $1.4 million of revenue and gross loss, respectively, from Aidvantage. BZ Bodies Limited ("BZB") On January 31, 2022, we acquired 100% of the share capital of BZB for an estimated purchase price of $2.9 million (£2.2 million British Pounds), which includes an estimate of contingent consideration payable upon future performance. BZB provides weight management services for adults, children and vulnerable groups in the United Kingdom. We acquired this business to complement our services within the United Kingdom. The business was integrated into our Outside the U.S. Segment. We recorded estimated goodwill and intangible assets of $1.5 million and $1.3 million, respectively, related to the acquisition. During the three and six months ended March 31, 2022, we reported $1.1 million and $0.6 million of revenue and gross profit, respectively, from BZB.

Debt

Debt	6 Months Ended
Debt	Mar. 31, 2022
Debt Disclosure [Abstract]
Debt	DEBT Table 7.1: Details of Debt March 31, 2022 September 30, 2021 (in thousands) Term Loan A, due 2026 $ 1,058,750 $ 1,086,250 Term Loan B, due 2028 397,000 399,000 Subsidiary loan agreements 3,971 38,281 Total debt principal 1,459,721 1,523,531 Less: Unamortized debt-issuance costs and discounts (12,424) (13,839) Total debt 1,447,297 1,509,692 Less: Current portion of long-term debt (59,911) (80,555) Long-term debt $ 1,387,386 $ 1,429,137 On May 28, 2021, we entered into a credit agreement with JPMorgan Chase Bank, N.A., as Administrative Agent ("Credit Agreement"), which replaced our existing revolving credit facility. The Credit Agreement provided for the following three components. • $1.10 billion term loan facility ("Term Loan A") which matures on May 28, 2026; • $400.0 million term loan facility ("Term Loan B") which matures May 28, 2028; and • $600.0 million revolving credit facility ("Revolver") which matures May 28, 2026. The interest rates applicable to loans under the Credit Agreement are floating rates based upon the London Interbank Offered Rate ("LIBOR") plus a margin. Term Loan A and the Revolver margins are dependent upon our leverage ratio. Term Loan B is set to LIBOR plus 2.00% subject to a floor of 0.50%. At execution of the Credit Agreement, the interest rates for Term Loan A and the Revolver was LIBOR plus 1.75%. During the first quarter of fiscal quarter 2022, we were able to lower our interest rates on both Term Loan A and the Revolver to LIBOR plus 1.50% based on the attainment of a total leverage ratio of 2.50 or better. As of March 31, 2022, the net total leverage ratio was 2.4. If we can achieve a net total leverage ratio of less than 2.00, the interest rates for Term Loan A and the Revolver could be further lowered to LIBOR plus 1.375%; conversely if the net leverage ratio increases to 2.50 or greater, the rate would revert back to LIBOR plus 1.75%. LIBOR is anticipated to be phased out over the next 18 months, and alternative benchmark rates have been identified in this agreement. This is our only significant arrangement that utilizes LIBOR. As of March 31, 2022, the annual effective interest rate, including original issue discount and amortization of debt issuance costs, was 2.4%. The Credit Agreement is available for general corporate purposes, including the funding of working capital, capital expenditures, and possible future acquisitions. In addition to borrowings, it allows us to continue to issue letters of credit when necessary. As of March 31, 2022, we had no outstanding balance on the Revolver. Under the terms of the Credit Agreement, we are required to comply with certain covenants, the terms of which are customary and include a net total leverage ratio and a net interest coverage ratio. The net total leverage ratio is calculated as total outstanding debt less the lower of (a) unrestricted cash or (b) $75.0 million divided by adjusted earnings before interest, taxes, depreciation, and amortization ("EBITDA"). With certain exceptions, the covenant requires the net total leverage ratio, as defined by the Credit Agreement to be less than 4.0, calculated over the previous twelve months. The net interest coverage ratio is calculated as EBITDA divided by interest expense, over the previous twelve months. The covenant requires a net interest coverage ratio of 3.0 or greater. As of March 31, 2022, as defined by the Credit Agreement, we calculated a net total leverage ratio of 2.4 and net interest coverage ratio of 15.3. We were in compliance with all applicable covenants under the Credit Agreement as of March 31, 2022, and September 30, 2021. We do not believe that the covenants represent a significant restriction to our ability to successfully operate the business or to pay our dividends. Costs incurred in establishing the Credit Agreement have been reported as a reduction to the gross debt balance and will be amortized over the respective lives of the arrangements. In addition to the corporate Credit Agreement, we hold smaller credit facilities in Australia, Canada, and the United Kingdom. These allow our businesses to borrow to meet any short-term working capital needs. Table 7.2: Details of Future Minimum Principal Payments Due Amount Due (in thousands) April 1, 2022 through September 30, 2022 $ 32,963 Year ended September 30, 2023 66,383 Year ended September 30, 2024 86,500 Year ended September 30, 2025 93,375 Year ended September 30, 2026 801,500 Thereafter 379,000 Total payments $ 1,459,721

Derivatives

Derivatives	6 Months Ended
Derivatives	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	DERIVATIVES Interest Rate Derivative Instrument In June 2021, the Company entered into an interest rate swap agreement for a notional amount of $300.0 million, effective June 28, 2021, with an expiration date of May 28, 2026, which hedges the floating LIBOR on a portion of the term loan (Term Loan A, $1.10 billion balance) under the Credit Agreement to a fixed rate of 0.986%. The Company elected to designate this interest rate swap as a cash flow hedge for accounting purposes. As this cash flow hedge is considered effective, any future gains and losses are reflected within Accumulated Other Comprehensive Income in the Consolidated Statements of Comprehensive Income. Derivatives in a net asset position are recorded in "Prepaid expenses and other current assets" on our Consolidated Balance Sheets and derivatives in a net liability position are recorded in "Other current liabilities" on our Consolidated Balance Sheets. No ineffectiveness was recorded on this contract during the six months ended March 31, 2022. Table 8.1: Details of Derivatives Fair Value March 31, 2022 September 30, 2021 (in thousands) Assets: Interest rate swap $ 17,737 $ — Total assets $ 17,737 $ — Liabilities: Interest rate swap $ — $ 410 Total liabilities $ — $ 410 Table 8.2: Gains on Derivatives For the Three Months Ended For the Six Months Ended March 31, 2022 March 31, 2021 March 31, 2022 March 31, 2021 (in thousands) Net gains recognized in AOCI on derivatives, net of tax (1) $ 10,225 $ — $ 12,401 $ — Amounts reclassified to earnings from accumulated other comprehensive loss (2) 464 — 973 — Net current period other comprehensive income $ 10,689 $ — $ 13,374 $ — (1) Amount is net of tax expense of $3.7 million and $4.4 million for the three and six months ended March 31, 2022, respectively. (2) Amount is net of tax benefit of $0.2 million and $0.3 million for the three and six months ended March 31, 2022, respectively. Counterparty Risk The Company is exposed to credit losses in the event of nonperformance by the counterparty to our derivative instrument. Our counterparty has investment grade credit ratings; accordingly, we anticipate that the counterparty will be able to fully satisfy its obligations under the contracts. Our agreements outline the conditions upon which it or the counterparty are required to post collateral. As of March 31, 2022, there was no collateral posted with its counterparty related to the derivatives.

Fair Value

Fair Value	6 Months Ended
Fair Value	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value	FAIR VALUE The Company had two assets recorded at fair value on a recurring basis as of March 31, 2022, the deferred compensation asset, related to the portion invested in mutual funds and the interest rate swap. For the deferred compensation asset, the mutual funds prices are quoted in active markets and therefore are classified as Level 1. For the interest rate swap, the Company obtains its Level 2 pricing inputs from its counterparty for the interest rate swap. Substantially all of these assumptions are observable in the marketplace throughout the full term of the instrument, can be derived from observable data, or are supported by observable levels at which transactions are executed in the marketplace. As of March 31, 2022, the Company had liabilities recorded at fair value on a recurring basis for contingent consideration related to acquisitions. The contingent consideration liability is considered Level 3, as the inputs are not observable and based on internal assumptions about forecasted revenues, margins, volumes, and probability of contract extensions on businesses acquired. The fair values of receivables, prepaids, other assets, accounts payable, accrued costs, and other current liabilities approximate the carrying values as a result of the short-term nature of these instruments. The carrying value of our debt is consistent with the fair value as the stated interest rates in the agreements are consistent with the current market rates used in notes with similar terms in the markets (Level 2 inputs). Table 9: Fair Value As of March 31, 2022 Level 1 Level 2 Level 3 Balance (in thousands) Assets: Deferred compensation assets - Rabbi Trust $ 28,231 $ — $ — $ 28,231 Interest rate swap — 17,737 — 17,737 Total assets $ 28,231 $ 17,737 $ — $ 45,968 Liabilities: Contingent consideration $ — $ — $ 21,340 $ 21,340 Total liabilities $ — $ — $ 21,340 $ 21,340

Stock Compensation

Stock Compensation	6 Months Ended
Stock Compensation	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Stock Compensation	STOCK COMPENSATION The Company grants restricted stock units ("RSUs") and performance stock units ("PSUs") to eligible participants under its 2021 Stock Incentive Plan, which was approved by the Board of Directors and stockholders. The RSUs granted to employees vest ratably over three During the six months ended March 31, 2022, we issued approximately 340,000 RSUs, which will vest ratably over three

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	6 Months Ended
Accumulated Other Comprehensive Income	Mar. 31, 2022
Equity [Abstract]
Accumulated Other Comprehensive Income	ACCUMULATED OTHER COMPREHENSIVE INCOME Table 11: Details of Changes in Accumulated Other Comprehensive Loss by Category Foreign currency translation adjustment Net unrealized (loss)/gain on derivatives, net of tax Total (in thousands) Balance as of September 30, 2021 $ (39,605) $ (303) $ (39,908) Other comprehensive income before reclassifications 436 12,401 12,837 Amounts reclassified from accumulated other comprehensive loss — 973 973 Net current period other comprehensive income 436 13,374 13,810 Balance as of March 31, 2022 $ (39,169) $ 13,071 $ (26,098)

Stock Purchases

Stock Purchases	6 Months Ended
Stock Purchases	Mar. 31, 2022
Equity [Abstract]
Stock Purchases	STOCK PURCHASES Under a resolution adopted in March 2020, the Board of Directors authorized the purchase, at management's discretion, of up to $200.0 million of our common stock. As of March 31, 2022, $120.8 million remained available for future stock purchases. Table 12: Stock Purchase Activity For the Three Months Ended For the Six Months Ended March 31, 2022 March 31, 2021 March 31, 2022 March 31, 2021 (in thousands, except per share data) Amount paid for shares repurchased $ 24,464 $ — $ 25,843 $ 3,363 Number of shares repurchased 330 — 348 52 Average per share price paid $ 74.22 $ — $ 74.26 $ 64.98

Cash And Cash Equivalents And R

Cash And Cash Equivalents And Restricted Cash	6 Months Ended
Cash And Cash Equivalents And Restricted Cash	Mar. 31, 2022
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Cash And Cash Equivalents And Restricted Cash	CASH AND CASH EQUIVALENTS AND RESTRICTED CASH Table 13.1: Details of Cash and Cash Equivalents and Restricted Cash March 31, 2022 September 30, 2021 (in thousands) Cash and cash equivalents $ 92,638 $ 135,061 Restricted cash (1) 19,330 21,509 Cash, cash equivalents, and restricted cash $ 111,968 $ 156,570 (1) Restricted cash is recorded within "Prepaid expenses and other current assets" on the Consolidated Balance Sheets. Table 13.2: Supplemental Disclosures of Cash Flow Information For the Six Months Ended March 31, 2022 March 31, 2021 (in thousands) Interest payments $ 17,755 $ 783 Income tax payments 50,531 42,495

Accounts Receivable, Net

Accounts Receivable, Net	6 Months Ended
Accounts Receivable, Net	Mar. 31, 2022
Receivables [Abstract]
Accounts Receivable, Net	ACCOUNTS RECEIVABLE, NET Table 14: Details of Accounts Receivable, Net March 31, 2022 September 30, 2021 (in thousands) Billed and billable receivables $ 742,713 $ 718,728 Unbilled receivables 148,122 124,135 Allowance for credit losses (5,150) (8,044) Accounts receivable, net $ 885,685 $ 834,819

Property And Equipment, Net

Property And Equipment, Net	6 Months Ended
Property And Equipment, Net	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Property And Equipment, Net	PROPERTY AND EQUIPMENT, NET Table 15: Details of Property and Equipment, Net March 31, 2022 September 30, 2021 (in thousands) Land $ — $ 1,738 Building and improvements — 11,981 Office furniture and equipment 247,100 254,102 Leasehold improvements 88,236 79,938 Property and equipment, at cost 335,336 347,759 Accumulated depreciation (277,391) (285,132) Property and equipment, net $ 57,945 $ 62,627 As of March 31, 2022, we classified as held for sale one building and the associated land with a carrying value of $5.4 million within "Prepaid expenses and other current assets" on our Consolidated Balance Sheets. As of March 31, 2022, we concluded the fair value less the costs to sell exceeds the carrying value of this asset.

Commitments and contingencies

Commitments and contingencies	6 Months Ended
Commitments and contingencies	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments And Contingencies	COMMITMENTS AND CONTINGENCIES Litigation We are subject to audits, investigations, and reviews relating to compliance with the laws and regulations that govern our role as a contractor to agencies and departments of federal, state, local, and foreign governments, and otherwise in connection with performing services in countries outside of the U.S. Adverse findings could lead to criminal, civil, or administrative proceedings, and we could be faced with penalties, fines, suspension, or debarment. Adverse findings could also have a material adverse effect on us because of our reliance on government contracts. We are subject to periodic audits by federal, state, local, and foreign governments for taxes. We are also involved in various claims, arbitrations, and lawsuits arising in the normal conduct of our business. These include but are not limited to bid protests, employment matters, contractual disputes, and charges before administrative agencies. Although we can give no assurance, based upon our evaluation and taking into account the advice of legal counsel, we do not believe that the outcome of any existing matter would likely have a material adverse effect on our consolidated financial position, results of operations, or cash flows. Medicaid claims The Centers for Medicare and Medicaid Services (CMS) asserted two disallowances against a state Medicaid agency. The state contested the first disallowance and ultimately settled that claim for approximately $7.3 million. The second disallowance of approximately $19.9 million is still being contested by the state. The state is seeking reimbursement from us for the first disallowance of $7.3 million and has indicated its intention to seek reimbursement of the second disallowance if its legal challenge is unsuccessful. From 2004 through 2009, we had a contract with the state agency in support of its school-based Medicaid claims. We entered into separate agreements with the school districts under which we assisted the districts with preparing and submitting claims to the state Medicaid agency which, in turn, submitted claims for reimbursement to CMS. The state has asserted that its agreement with us requires us to reimburse the state for the amounts owed to CMS. However, our agreements with the school districts require them to reimburse us for such amounts, and therefore we believe the school districts are responsible for any amounts that ultimately must be refunded to CMS. Although it is reasonably possible that a court could conclude we are responsible for the full balance of the disallowances, we believe our exposure in this matter is limited to our fees associated with this work and that the school districts will be responsible for the remainder. We have recorded a liability of our estimated fees earned from this engagement relating to the disallowances. We exited the federal healthcare-claiming business in 2009 and no longer provide the services at issue in this matter.

Subsequent Event

Subsequent Event	6 Months Ended
Subsequent Event	Mar. 31, 2022
Subsequent Events [Abstract]
Subsequent Event	SUBSEQUENT EVENTOn April 8, 2022, our Board of Directors declared a quarterly cash dividend of $0.28 for each share of our common stock outstanding. The dividend is payable on May 31, 2022, to shareholders of record on May 13, 2022. Based upon the number of shares outstanding, we anticipate a cash payment of approximately $17.3 million.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	6 Months Ended
Significant Accounting Policies (Policies)	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries over which the Company has a controlling financial interest, and have been prepared in accordance with accounting principles generally accepted in the United States, or U.S. GAAP, and the rules and regulations of the U.S. Securities and Exchange Commission, or SEC. All intercompany balances and transactions have been eliminated in consolidation. (b) Basis of Presentation for Interim Periods Certain information and footnote disclosures normally included for the annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted for the interim periods presented. We believe that the unaudited interim financial statements include all adjustments (which are normal and recurring in nature) necessary to present fairly our financial position and the results of operations and cash flows for the periods presented. The results of operations for the interim periods presented are not necessarily indicative of results that may be expected for the year or future periods. The financial statements should be read in conjunction with our audited consolidated financial statements and the notes thereto for the year ended September 30, 2021 included in our Annual Report on Form 10-K for the fiscal year then ended (the "2021 10-K"). We have continued to follow the accounting policies set forth in those financial statements.
Estimates	Estimates The preparation of these financial statements, in conformity with U.S. GAAP, requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent liabilities, and the reported amounts of revenue and expenses. At each reporting period end, we make estimates, including those related to revenue recognition and cost estimation on certain contracts, the realizability of goodwill, and amounts related to income taxes, certain accrued liabilities, and contingencies and litigation. We base our estimates on historical experience and expectations of the future that we believe to be reasonable. The economic and political effects of the COVID-19 global pandemic increase uncertainty, which has reduced our ability to use past results to estimate future performance. Accordingly, our estimates may be subject to greater volatility than has been the case in the past.

Business Segments (Tables)

Business Segments (Tables)	6 Months Ended
Business Segments (Tables)	Mar. 31, 2022
Segment Reporting [Abstract]
Schedule of Financial Information for each of the Company's Business Segments	Table 3: Results of Operation by Business Segment For the Three Months Ended For the Six Months Ended March 31, 2022 March 31, 2021 March 31, 2022 March 31, 2021 Amount % (1) Amount % (1) Amount % (1) Amount % (1) (dollars in thousands) Revenue: U.S. Services $ 398,077 $ 448,215 $ 784,494 $ 833,149 U.S. Federal Services 573,288 330,136 1,155,159 735,381 Outside the U.S. 205,961 180,929 388,549 336,304 Revenue $ 1,177,326 $ 959,280 $ 2,328,202 $ 1,904,834 Gross profit: U.S. Services $ 84,971 21.3 % $ 119,440 26.6 % $ 174,670 22.3 % $ 218,442 26.2 % U.S. Federal Services 115,153 20.1 % 74,133 22.5 % 241,729 20.9 % 156,629 21.3 % Outside the U.S. 28,327 13.8 % 37,085 20.5 % 40,207 10.3 % 61,642 18.3 % Gross profit $ 228,451 19.4 % $ 230,658 24.0 % $ 456,606 19.6 % $ 436,713 22.9 % Selling, general, and administrative expenses: U.S. Services $ 38,273 9.6 % $ 36,593 8.2 % $ 73,375 9.4 % $ 74,049 8.9 % U.S. Federal Services 68,949 12.0 % 50,978 15.4 % 133,874 11.6 % 103,230 14.0 % Outside the U.S. 24,011 11.7 % 22,013 12.2 % 45,351 11.7 % 42,045 12.5 % Other (2) (926) NM 2,818 NM 1,928 NM 5,045 NM Selling, general, and administrative expenses $ 130,307 11.1 % $ 112,402 11.7 % $ 254,528 10.9 % $ 224,369 11.8 % Operating income/(loss): U.S. Services $ 46,698 11.7 % $ 82,847 18.5 % $ 101,295 12.9 % $ 144,393 17.3 % U.S. Federal Services 46,204 8.1 % 23,155 7.0 % 107,855 9.3 % 53,399 7.3 % Outside the U.S. 4,316 2.1 % 15,072 8.3 % (5,144) (1.3) % 19,597 5.8 % Amortization of intangible assets (22,856) NM (5,070) NM (45,261) NM (11,586) NM Other (2) 926 NM (2,818) NM (1,928) NM (5,045) NM Operating income/(loss) $ 75,288 6.4 % $ 113,186 11.8 % $ 156,817 6.7 % $ 200,758 10.5 % (1) Percentage of respective segment revenue. Percentages not considered meaningful are marked "NM." (2) Other selling, general, and administrative expenses includes costs that are not allocated to a particular segment. This includes expenses incurred as part of our acquisitions, as well as potential acquisitions which have not been or may not be completed.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
Revenue Recognition (Tables)	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Table 4.1: Revenue by Contract Type For the Three Months Ended For the Six Months Ended March 31, 2022 March 31, 2021 March 31, 2022 March 31, 2021 Amount % Amount % Amount % Amount % (dollars in thousands) Performance-based $ 516,210 43.9 % $ 349,749 36.4 % $ 1,007,166 43.3 % $ 643,709 33.8 % Cost-plus 322,823 27.4 % 286,082 29.8 % 662,904 28.5 % 670,565 35.2 % Fixed price 158,867 13.5 % 146,344 15.3 % 310,372 13.3 % 267,121 14.0 % Time and materials 179,426 15.2 % 177,105 18.5 % 347,760 14.9 % 323,439 17.0 % Total revenue $ 1,177,326 $ 959,280 $ 2,328,202 $ 1,904,834 Table 4.2: Revenue by Customer Type For the Three Months Ended For the Six Months Ended March 31, 2022 March 31, 2021 March 31, 2022 March 31, 2021 Amount % Amount % Amount % Amount % (dollars in thousands) U.S. state government agencies $ 411,287 35.0 % $ 445,697 46.5 % $ 782,834 33.7 % $ 833,811 43.8 % U.S. federal government agencies 553,707 47.0 % 307,870 32.1 % 1,117,801 48.0 % 693,442 36.4 % International government agencies 194,800 16.5 % 171,700 17.9 % 366,175 15.7 % 319,042 16.7 % Other, including local municipalities and commercial customers 17,532 1.5 % 34,013 3.5 % 61,392 2.6 % 58,539 3.1 % Total revenue $ 1,177,326 $ 959,280 $ 2,328,202 $ 1,904,834 Table 4.3: Revenue by Geography For the Three Months Ended For the Six Months Ended March 31, 2022 March 31, 2021 March 31, 2022 March 31, 2021 Amount % Amount % Amount % Amount % (dollars in thousands) United States $ 971,365 82.5 % $ 778,350 81.1 % $ 1,939,653 83.3 % $ 1,568,529 82.3 % United Kingdom 107,898 9.1 % 72,882 7.6 % 193,705 8.3 % 137,668 7.2 % Australia 46,670 4.0 % 70,947 7.4 % 99,484 4.3 % 126,878 6.7 % Rest of world 51,393 4.4 % 37,101 3.9 % 95,360 4.1 % 71,759 3.8 % Total revenue $ 1,177,326 $ 959,280 $ 2,328,202 $ 1,904,834
Schedule of Effect of Changes in Contract Estimates	Table 4.4: Effect of Changes in Contract Estimates For the Three Months Ended For the Six Months Ended March 31, 2022 March 31, 2021 March 31, 2022 March 31, 2021 (in thousands, except per share data) Benefit to/(reduction of) revenue recognized due to changes in contract estimates $ (1,369) $ 7,603 $ (4,215) $ 15,986 Benefit to/(reduction of) diluted earnings per share recognized due to changes in contract estimates $ (0.02) $ 0.09 $ (0.05) $ 0.19

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
Earnings Per Share (Tables)	Mar. 31, 2022
Earnings Per Share [Abstract]
Schedule of Weighted Average Number of Shares used to Compute Earnings Per Share	Table 5: Weighted Average Number of Shares - Earnings Per Share For the Three Months Ended For the Six Months Ended March 31, 2022 March 31, 2021 March 31, 2022 March 31, 2021 (in thousands) Basic weighted average shares outstanding 62,227 62,026 62,256 62,022 Dilutive effect of unvested RSUs and PSUs 154 268 153 190 Denominator for diluted earnings per share 62,381 62,294 62,409 62,212 Unvested anti-dilutive stock units excluded from the dilutive effect (stock units) 173 199 192 201

Business Combinations (Tables)

Business Combinations (Tables)	6 Months Ended
Business Combinations (Tables)	Mar. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	Table 6.1: VES Valuation Allocation of Assets and Liabilities as of September 30, 2021 Adjustments Estimated Allocation (in thousands) Consideration paid: Cash consideration paid, net of cash acquired $ 1,360,231 $ — $ 1,360,231 Estimated additional cash payments 4,635 4,988 9,623 Estimated cash consideration, net of cash acquired 1,364,866 4,988 1,369,854 Assets acquired: Accounts receivable - billed, billable and unbilled $ 44,078 $ — $ 44,078 Prepaid expenses and other current assets 7,955 — 7,955 Property and equipment, net 9,113 (1,092) 8,021 Operating lease right-of-use assets 18,898 — 18,898 Intangible assets 664,000 — 664,000 Other assets 7,166 — 7,166 Total identifiable assets acquired 751,210 (1,092) 750,118 Liabilities assumed: Accounts payable and accrued compensation 42,182 (4,360) 37,822 Operating lease liabilities 18,898 — 18,898 Income taxes payable, current 5,673 — 5,673 Deferred income taxes 171,497 1,147 172,644 Other long-term liabilities 12,270 — 12,270 Total identifiable liabilities assumed 250,520 (3,213) 247,307 Net identifiable assets acquired 500,690 2,121 502,811 Goodwill 864,176 2,867 867,043 Net assets acquired $ 1,364,866 $ 4,988 $ 1,369,854
Schedule of Acquired Finite-Lived Intangible Assets Weighted Average Remaining Lives	Table 6.2: VES Intangible Asset Values and Useful Lives Estimated Straight-Line Useful Life Estimated Fair Value (in thousands) Customer contracts and relationships 12 years $ 580,000 Provider network 12 years 57,000 Technology-based intangible assets 12 years 27,000 Total intangible assets $ 664,000

Debt (Tables)

Debt (Tables)	6 Months Ended
Debt (Tables)	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of Debt	Table 7.1: Details of Debt March 31, 2022 September 30, 2021 (in thousands) Term Loan A, due 2026 $ 1,058,750 $ 1,086,250 Term Loan B, due 2028 397,000 399,000 Subsidiary loan agreements 3,971 38,281 Total debt principal 1,459,721 1,523,531 Less: Unamortized debt-issuance costs and discounts (12,424) (13,839) Total debt 1,447,297 1,509,692 Less: Current portion of long-term debt (59,911) (80,555) Long-term debt $ 1,387,386 $ 1,429,137
Schedule of Maturities of Long-term Debt	Table 7.2: Details of Future Minimum Principal Payments Due Amount Due (in thousands) April 1, 2022 through September 30, 2022 $ 32,963 Year ended September 30, 2023 66,383 Year ended September 30, 2024 86,500 Year ended September 30, 2025 93,375 Year ended September 30, 2026 801,500 Thereafter 379,000 Total payments $ 1,459,721

Derivatives (Tables)

Derivatives (Tables)	6 Months Ended
Derivatives (Tables)	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Assets at Fair Value	Table 8.1: Details of Derivatives Fair Value March 31, 2022 September 30, 2021 (in thousands) Assets: Interest rate swap $ 17,737 $ — Total assets $ 17,737 $ — Liabilities: Interest rate swap $ — $ 410 Total liabilities $ — $ 410
Schedule of Derivative Liabilities at Fair Value	Table 8.1: Details of Derivatives Fair Value March 31, 2022 September 30, 2021 (in thousands) Assets: Interest rate swap $ 17,737 $ — Total assets $ 17,737 $ — Liabilities: Interest rate swap $ — $ 410 Total liabilities $ — $ 410
Schedule of Losses on Derivatives	Table 8.2: Gains on Derivatives For the Three Months Ended For the Six Months Ended March 31, 2022 March 31, 2021 March 31, 2022 March 31, 2021 (in thousands) Net gains recognized in AOCI on derivatives, net of tax (1) $ 10,225 $ — $ 12,401 $ — Amounts reclassified to earnings from accumulated other comprehensive loss (2) 464 — 973 — Net current period other comprehensive income $ 10,689 $ — $ 13,374 $ — (1) Amount is net of tax expense of $3.7 million and $4.4 million for the three and six months ended March 31, 2022, respectively. (2) Amount is net of tax benefit of $0.2 million and $0.3 million for the three and six months ended March 31, 2022, respectively.

Fair Value (Tables)

Fair Value (Tables)	6 Months Ended
Fair Value (Tables)	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of Fair Value of Assets and Liabilities	Table 9: Fair Value As of March 31, 2022 Level 1 Level 2 Level 3 Balance (in thousands) Assets: Deferred compensation assets - Rabbi Trust $ 28,231 $ — $ — $ 28,231 Interest rate swap — 17,737 — 17,737 Total assets $ 28,231 $ 17,737 $ — $ 45,968 Liabilities: Contingent consideration $ — $ — $ 21,340 $ 21,340 Total liabilities $ — $ — $ 21,340 $ 21,340

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	6 Months Ended
Accumulated Other Comprehensive Income (Tables)	Mar. 31, 2022
Equity [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Loss by Category	Table 11: Details of Changes in Accumulated Other Comprehensive Loss by Category Foreign currency translation adjustment Net unrealized (loss)/gain on derivatives, net of tax Total (in thousands) Balance as of September 30, 2021 $ (39,605) $ (303) $ (39,908) Other comprehensive income before reclassifications 436 12,401 12,837 Amounts reclassified from accumulated other comprehensive loss — 973 973 Net current period other comprehensive income 436 13,374 13,810 Balance as of March 31, 2022 $ (39,169) $ 13,071 $ (26,098)

Stock Purchases (Tables)

Stock Purchases (Tables)	6 Months Ended
Stock Purchases (Tables)	Mar. 31, 2022
Equity [Abstract]
Schedule of Stock Purchase Activity	Table 12: Stock Purchase Activity For the Three Months Ended For the Six Months Ended March 31, 2022 March 31, 2021 March 31, 2022 March 31, 2021 (in thousands, except per share data) Amount paid for shares repurchased $ 24,464 $ — $ 25,843 $ 3,363 Number of shares repurchased 330 — 348 52 Average per share price paid $ 74.22 $ — $ 74.26 $ 64.98

Cash And Cash Equivalents And_2

Cash And Cash Equivalents And Restricted Cash (Tables)	6 Months Ended
Cash And Cash Equivalents And Restricted Cash (Tables)	Mar. 31, 2022
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Schedule of Cash and Cash Equivalents	Table 13.1: Details of Cash and Cash Equivalents and Restricted Cash March 31, 2022 September 30, 2021 (in thousands) Cash and cash equivalents $ 92,638 $ 135,061 Restricted cash (1) 19,330 21,509 Cash, cash equivalents, and restricted cash $ 111,968 $ 156,570 (1) Restricted cash is recorded within "Prepaid expenses and other current assets" on the Consolidated Balance Sheets.
Restrictions on Cash and Cash Equivalents	Table 13.1: Details of Cash and Cash Equivalents and Restricted Cash March 31, 2022 September 30, 2021 (in thousands) Cash and cash equivalents $ 92,638 $ 135,061 Restricted cash (1) 19,330 21,509 Cash, cash equivalents, and restricted cash $ 111,968 $ 156,570 (1) Restricted cash is recorded within "Prepaid expenses and other current assets" on the Consolidated Balance Sheets.
Supplementary Cash Flow Information	Table 13.2: Supplemental Disclosures of Cash Flow Information For the Six Months Ended March 31, 2022 March 31, 2021 (in thousands) Interest payments $ 17,755 $ 783 Income tax payments 50,531 42,495

Accounts Receivable, Net (Table

Accounts Receivable, Net (Tables)	6 Months Ended
Accounts Receivable, Net (Tables)	Mar. 31, 2022
Receivables [Abstract]
Details of Accounts Receivable	Table 14: Details of Accounts Receivable, Net March 31, 2022 September 30, 2021 (in thousands) Billed and billable receivables $ 742,713 $ 718,728 Unbilled receivables 148,122 124,135 Allowance for credit losses (5,150) (8,044) Accounts receivable, net $ 885,685 $ 834,819

Property And Equipment, Net (Ta

Property And Equipment, Net (Tables)	6 Months Ended
Property And Equipment, Net (Tables)	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	Table 15: Details of Property and Equipment, Net March 31, 2022 September 30, 2021 (in thousands) Land $ — $ 1,738 Building and improvements — 11,981 Office furniture and equipment 247,100 254,102 Leasehold improvements 88,236 79,938 Property and equipment, at cost 335,336 347,759 Accumulated depreciation (277,391) (285,132) Property and equipment, net $ 57,945 $ 62,627

Business Segments - Financial i

Business Segments - Financial information by segment (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2022USD ($)	Mar. 31, 2021USD ($)	Mar. 31, 2022USD ($)segment	Mar. 31, 2021USD ($)
Financial information for each of the Company's business segments
Number of operating segments \| segment			3
Revenue:
Revenue	$ 1,177,326	$ 959,280	$ 2,328,202	$ 1,904,834
Gross profit:
Gross profit	$ 228,451	$ 230,658	$ 456,606	$ 436,713
Gross profit (as a percent)	19.40%	24.00%	19.60%	22.90%
Selling, general, and administrative expenses:
Selling, general, and administrative expenses	$ 130,307	$ 112,402	$ 254,528	$ 224,369
Selling, general, and administrative expense (as a percent)	11.10%	11.70%	10.90%	11.80%
Operating income/(loss):
Operating income	$ 75,288	$ 113,186	$ 156,817	$ 200,758
Operating income (as a percent)	6.40%	11.80%	6.70%	10.50%
Amortization of intangible assets	$ (22,856)	$ (5,070)	$ (45,261)	$ (11,586)
Segment Reconciling Items
Selling, general, and administrative expenses:
Selling, general, and administrative expenses	(926)	2,818	1,928	5,045
Operating income/(loss):
Amortization of intangible assets	(22,856)	(5,070)	(45,261)	(11,586)
Other	926	(2,818)	(1,928)	(5,045)
U.S. Services \| Operating Segments
Revenue:
Revenue	398,077	448,215	784,494	833,149
Gross profit:
Gross profit	$ 84,971	$ 119,440	$ 174,670	$ 218,442
Gross profit (as a percent)	21.30%	26.60%	22.30%	26.20%
Selling, general, and administrative expenses:
Selling, general, and administrative expenses	$ 38,273	$ 36,593	$ 73,375	$ 74,049
Selling, general, and administrative expense (as a percent)	9.60%	8.20%	9.40%	8.90%
Operating income/(loss):
Operating income	$ 46,698	$ 82,847	$ 101,295	$ 144,393
Operating income (as a percent)	11.70%	18.50%	12.90%	17.30%
U.S. Federal Services \| Operating Segments
Revenue:
Revenue	$ 573,288	$ 330,136	$ 1,155,159	$ 735,381
Gross profit:
Gross profit	$ 115,153	$ 74,133	$ 241,729	$ 156,629
Gross profit (as a percent)	20.10%	22.50%	20.90%	21.30%
Selling, general, and administrative expenses:
Selling, general, and administrative expenses	$ 68,949	$ 50,978	$ 133,874	$ 103,230
Selling, general, and administrative expense (as a percent)	12.00%	15.40%	11.60%	14.00%
Operating income/(loss):
Operating income	$ 46,204	$ 23,155	$ 107,855	$ 53,399
Operating income (as a percent)	8.10%	7.00%	9.30%	7.30%
Outside the U.S. \| Operating Segments
Revenue:
Revenue	$ 205,961	$ 180,929	$ 388,549	$ 336,304
Gross profit:
Gross profit	$ 28,327	$ 37,085	$ 40,207	$ 61,642
Gross profit (as a percent)	13.80%	20.50%	10.30%	18.30%
Selling, general, and administrative expenses:
Selling, general, and administrative expenses	$ 24,011	$ 22,013	$ 45,351	$ 42,045
Selling, general, and administrative expense (as a percent)	11.70%	12.20%	11.70%	12.50%
Operating income/(loss):
Operating income	$ 4,316	$ 15,072	$ (5,144)	$ 19,597
Operating income (as a percent)	2.10%	8.30%	(1.30%)	5.80%

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Revenue	$ 1,177,326	$ 959,280	$ 2,328,202	$ 1,904,834
United States
Disaggregation of Revenue [Line Items]
Revenue	$ 971,365	$ 778,350	$ 1,939,653	$ 1,568,529
United States \| Revenue Benchmark \| Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Revenue in %	82.50%	81.10%	83.30%	82.30%
United Kingdom
Disaggregation of Revenue [Line Items]
Revenue	$ 107,898	$ 72,882	$ 193,705	$ 137,668
United Kingdom \| Revenue Benchmark \| Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Revenue in %	9.10%	7.60%	8.30%	7.20%
Australia
Disaggregation of Revenue [Line Items]
Revenue	$ 46,670	$ 70,947	$ 99,484	$ 126,878
Australia \| Revenue Benchmark \| Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Revenue in %	4.00%	7.40%	4.30%	6.70%
Rest of world
Disaggregation of Revenue [Line Items]
Revenue	$ 51,393	$ 37,101	$ 95,360	$ 71,759
Rest of world \| Revenue Benchmark \| Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Revenue in %	4.40%	3.90%	4.10%	3.80%
U.S. state government agencies
Disaggregation of Revenue [Line Items]
Revenue	$ 411,287	$ 445,697	$ 782,834	$ 833,811
U.S. state government agencies \| Revenue Benchmark \| Customer Concentration Risk
Disaggregation of Revenue [Line Items]
Revenue in %	35.00%	46.50%	33.70%	43.80%
U.S. federal government agencies
Disaggregation of Revenue [Line Items]
Revenue	$ 553,707	$ 307,870	$ 1,117,801	$ 693,442
U.S. federal government agencies \| Revenue Benchmark \| Customer Concentration Risk
Disaggregation of Revenue [Line Items]
Revenue in %	47.00%	32.10%	48.00%	36.40%
International government agencies
Disaggregation of Revenue [Line Items]
Revenue	$ 194,800	$ 171,700	$ 366,175	$ 319,042
International government agencies \| Revenue Benchmark \| Customer Concentration Risk
Disaggregation of Revenue [Line Items]
Revenue in %	16.50%	17.90%	15.70%	16.70%
Other, including local municipalities and commercial customers
Disaggregation of Revenue [Line Items]
Revenue	$ 17,532	$ 34,013	$ 61,392	$ 58,539
Other, including local municipalities and commercial customers \| Revenue Benchmark \| Customer Concentration Risk
Disaggregation of Revenue [Line Items]
Revenue in %	1.50%	3.50%	2.60%	3.10%
Performance-based
Disaggregation of Revenue [Line Items]
Revenue	$ 516,210	$ 349,749	$ 1,007,166	$ 643,709
Performance-based \| Revenue Benchmark \| Contract Concentration Risk
Disaggregation of Revenue [Line Items]
Revenue in %	43.90%	36.40%	43.30%	33.80%
Cost-plus
Disaggregation of Revenue [Line Items]
Revenue	$ 322,823	$ 286,082	$ 662,904	$ 670,565
Cost-plus \| Revenue Benchmark \| Contract Concentration Risk
Disaggregation of Revenue [Line Items]
Revenue in %	27.40%	29.80%	28.50%	35.20%
Fixed price
Disaggregation of Revenue [Line Items]
Revenue	$ 158,867	$ 146,344	$ 310,372	$ 267,121
Fixed price \| Revenue Benchmark \| Contract Concentration Risk
Disaggregation of Revenue [Line Items]
Revenue in %	13.50%	15.30%	13.30%	14.00%
Time and materials
Disaggregation of Revenue [Line Items]
Revenue	$ 179,426	$ 177,105	$ 347,760	$ 323,439
Time and materials \| Revenue Benchmark \| Contract Concentration Risk
Disaggregation of Revenue [Line Items]
Revenue in %	15.20%	18.50%	14.90%	17.00%

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Deferred revenue, revenue recognized	$ 20.6	$ 15.2	$ 61.8	$ 29.1
Unbilled receivables
Disaggregation of Revenue [Line Items]
Unbilled contracts receivable	$ 12.6		$ 12.6		$ 10.4

Revenue Recognition - Remaining

Revenue Recognition - Remaining Performance Obligation (Details) $ in Millions	Mar. 31, 2022USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 550
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage	50.00%
Revenue, remaining performance obligation, expected timing of satisfaction, period	12 months

Revenue Recognition - Effect of

Revenue Recognition - Effect of Changes in Contract Estimates (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Benefit to/(reduction of) revenue recognized due to changes in contract estimates	$ (1,369)	$ 7,603	$ (4,215)	$ 15,986
Benefit to/(reduction of) diluted earnings per share recognized due to changes in contract estimates	$ (0.02)	$ 0.09	$ (0.05)	$ 0.19

Earnings Per Share (Details)

Earnings Per Share (Details) - shares	3 Months Ended		6 Months Ended
Earnings Per Share (Details) - shares	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share [Abstract]
Basic weighted average shares outstanding (in shares)	62,227,000	62,026,000	62,256,000	62,022,000
Dilutive effect of unvested RSUs and PSUs (in shares)	154,000	268,000	153,000	190,000
Denominator for diluted earnings per share (in shares)	62,381,000	62,294,000	62,409,000	62,212,000
Antidilutive securities excluded from computation of earnings per share (in shares)	173,000	199,000	192,000	201,000

Business Combinations - Narrati

Business Combinations - Narrative (Details) $ in Thousands, £ in Millions	Mar. 31, 2022USD ($)	Jan. 31, 2022USD ($)	Jan. 31, 2022GBP (£)	Oct. 06, 2021USD ($)	Sep. 30, 2021USD ($)	Sep. 14, 2021USD ($)	Sep. 14, 2021GBP (£)	May 28, 2021USD ($)asset	Mar. 31, 2022USD ($)	Mar. 31, 2022USD ($)	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)
Business Acquisition [Line Items]
Cash consideration paid, net of cash acquired										$ 4	$ 413,940
Number of intangible assets acquired \| asset								3
Goodwill	$ 1,780,370				$ 1,774,406				$ 1,780,370	1,780,370
VES Group, Inc.
Business Acquisition [Line Items]
Percentage of voting equity interests acquired								100.00%
Cash consideration paid, net of cash acquired	1,360,231				1,360,231			$ 1,370,000
Liabilities arising from contingencies								12,000				$ 12,000
Indemnification assets								6,000
Liability for uncertainty in income taxes								12,300
Goodwill	867,043				864,176				867,043	867,043
Intangible assets	$ 664,000				$ 664,000				664,000	664,000
VES Group, Inc. \| Indemnification Asset On Uncertain Tax Positions
Business Acquisition [Line Items]
Indemnification assets								$ 7,200
Connect Assist
Business Acquisition [Line Items]
Percentage of voting equity interests acquired						100.00%
Cash payment to acquire business						$ 21,100	£ 15.5
Goodwill						11,300
Intangible assets						$ 7,700
Navient
Business Acquisition [Line Items]
Intangible assets				$ 16,700
Contingent consideration				$ 18,600
Amortization period				27 months
Revenue contributed from acquired business									47,000	81,700
Gross profit contributed from acquired business									(3,400)	(1,400)
Navient \| Maximum
Business Acquisition [Line Items]
Contingent consideration				$ 65,000
BZ Bodies Limited
Business Acquisition [Line Items]
Percentage of voting equity interests acquired		100.00%
Cash payment to acquire business		$ 2,900	£ 2.2
Goodwill		1,500
Intangible assets		$ 1,300
Revenue contributed from acquired business									1,100	1,100
Gross profit contributed from acquired business									$ 600	$ 600

Business combinations - Schedul

Business combinations - Schedule of Asset Acquired and Liabilities Assumed, VES (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Sep. 30, 2021	May 28, 2021	Mar. 31, 2022	Mar. 31, 2021
Allocation of Assets and Liabilities
Cash consideration paid, net of cash acquired				$ 4	$ 413,940
Goodwill	$ 1,780,370	$ 1,774,406		1,780,370
VES Group, Inc.
Allocation of Assets and Liabilities
Cash consideration paid, net of cash acquired	1,360,231	1,360,231	$ 1,370,000
Estimated additional cash payments	9,623	4,635
Estimated cash consideration, net of cash acquired	1,369,854	1,364,866
Accounts receivable - billed, billable and unbilled	44,078	44,078		44,078
Prepaid expenses and other current assets	7,955	7,955		7,955
Property and equipment, net	8,021	9,113		8,021
Operating lease right-of-use assets	18,898	18,898		18,898
Intangible assets	664,000	664,000		664,000
Other assets	7,166	7,166		7,166
Total identifiable assets acquired	750,118	751,210		750,118
Accounts payable and accrued compensation	37,822	42,182		37,822
Operating lease liabilities	18,898	18,898		18,898
Income taxes payable, current	5,673	5,673		5,673
Deferred income taxes	172,644	171,497		172,644
Other long-term liabilities	12,270	12,270		12,270
Total identifiable liabilities assumed	247,307	250,520		247,307
Net identifiable assets acquired	502,811	500,690		502,811
Goodwill	867,043	864,176		867,043
Net assets acquired	$ 1,369,854	$ 1,364,866		1,369,854
Adjustments
Cash consideration paid, net of cash acquired				0
Estimated additional cash payments				4,988
Estimated cash consideration, net of cash acquired				4,988
Accounts receivable - billed, billable and unbilled				0
Prepaid expenses and other current assets				0
Property and equipment, net				(1,092)
Operating lease right-of-use assets				0
Intangible assets				0
Other assets				0
Total identifiable assets acquired				(1,092)
Accounts payable and accrued compensation				(4,360)
Operating lease liabilities				0
Income taxes payable, current				0
Deferred income taxes				1,147
Other long-term liabilities				0
Total identifiable liabilities assumed				(3,213)
Net identifiable assets acquired				2,121
Goodwill				2,867
Net assets acquired				$ 4,988

Business combinations - Sched_2

Business combinations - Schedule of the Valuation of the Intangible Assets Acquired (Details) - VES Group, Inc. $ in Thousands	May 28, 2021USD ($)
Finite-Lived Intangible Assets [Line Items]
Estimated Fair Value	$ 664,000
Customer contracts and relationships
Finite-Lived Intangible Assets [Line Items]
Estimated Straight-Line Useful Life	12 years
Estimated Fair Value	$ 580,000
Provider network
Finite-Lived Intangible Assets [Line Items]
Estimated Straight-Line Useful Life	12 years
Estimated Fair Value	$ 57,000
Technology-based intangible assets
Finite-Lived Intangible Assets [Line Items]
Estimated Straight-Line Useful Life	12 years
Estimated Fair Value	$ 27,000

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Sep. 30, 2021
Debt Instrument [Line Items]
Total debt principal	$ 1,459,721	$ 1,523,531
Less: Unamortized debt-issuance costs and discounts	(12,424)	(13,839)
Total debt	1,447,297	1,509,692
Less: Current portion of long-term debt	(59,911)	(80,555)
Long-term debt	1,387,386	1,429,137
Secured Debt \| Term Loan A, due 2026
Debt Instrument [Line Items]
Total debt principal	1,058,750	1,086,250
Secured Debt \| Term Loan B, due 2028
Debt Instrument [Line Items]
Total debt principal	397,000	399,000
Subsidiary Loans
Debt Instrument [Line Items]
Total debt principal	$ 3,971	$ 38,281

Debt - Narrative (Details)

Debt - Narrative (Details)	May 28, 2021USD ($)	Dec. 31, 2021	Mar. 31, 2022USD ($)	Sep. 30, 2021USD ($)
Debt Instrument [Line Items]
Annual effective interest rate			2.40%
Outstanding balance			$ 1,447,297,000	$ 1,509,692,000
Secured Debt
Debt Instrument [Line Items]
Floor interest rate	0.50%
Net total leverage ratio			2.4
Maximum amount netted against funded debt			$ (75,000,000)
Net total leverage ratio maximum			400.00%
Covenant, interest coverage ratio, minimum			300.00%
Covenant, interest coverage ratio			1530.00%
Secured Debt \| Minimum
Debt Instrument [Line Items]
Net total leverage ratio			2
Secured Debt \| Maximum
Debt Instrument [Line Items]
Net total leverage ratio			2.50
Secured Debt \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate			1.375%
Secured Debt \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate			1.75%
Secured Debt \| Term Loan A, due 2026
Debt Instrument [Line Items]
Debt instrument, face amount	$ 1,100,000,000
Secured Debt \| Term Loan A, due 2026 \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.75%	1.50%
Net total leverage ratio	2.50
Secured Debt \| Term Loan B, due 2028
Debt Instrument [Line Items]
Debt instrument, face amount	$ 400,000,000
Secured Debt \| Term Loan B, due 2028 \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	2.00%
Line of Credit \| Revolver
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 600,000,000
Outstanding balance			$ 0

Debt - Schedule of Repayments (

Debt - Schedule of Repayments (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Sep. 30, 2021
Debt Disclosure [Abstract]
April 1, 2022 through September 30, 2022	$ 32,963
Year ended September 30, 2023	66,383
Year ended September 30, 2024	86,500
Year ended September 30, 2025	93,375
Year ended September 30, 2026	801,500
Thereafter	379,000
Total payments	$ 1,459,721	$ 1,523,531

Derivatives - Narrative (Detail

Derivatives - Narrative (Details) - USD ($)	Jun. 28, 2021	May 28, 2021
Five Year Term Loan \| Secured Debt
Derivative [Line Items]
Debt instrument, face amount		$ 1,100,000,000
Interest rate swap
Derivative [Line Items]
Derivative, notional amount	$ 300,000,000
Derivative, fixed interest rate	0.986%

Derivatives - Schedule of Deriv

Derivatives - Schedule of Derivative Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Sep. 30, 2021
Derivatives, Fair Value [Line Items]
Total assets	$ 17,737	$ 0
Total liabilities	0	410
Interest rate swap
Derivatives, Fair Value [Line Items]
Total assets	17,737	0
Total liabilities	$ 0	$ 410

Derivatives - Schedule of Losse

Derivatives - Schedule of Losses on Derivatives (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
Derivative [Line Items]
Other comprehensive income	$ 10,666	$ 770	$ 13,810	$ 7,693
Net unrealized (loss)/gain on derivatives, net of tax
Derivative [Line Items]
Net gains recognized in AOCI on derivatives, net of tax	10,225	0	12,401	0
Amounts reclassified to earnings from accumulated other comprehensive loss	464	0	973	0
Other comprehensive income	10,689	$ 0	13,374	$ 0
Tax expense	3,700		4,400
Tax benefit	$ 200		$ 300

Fair Value - Assets and Liabili

Fair Value - Assets and Liabilities (Details) - Fair Value, Recurring $ in Thousands	Mar. 31, 2022USD ($)asset
Financial information for each of the Company's business segments
Assets recorded at fair value on recurring basis \| asset	2
Total assets	$ 45,968
Contingent consideration	21,340
Total liabilities	21,340
Interest rate swap
Financial information for each of the Company's business segments
Interest rate swap	17,737
Deferred compensation assets - Rabbi Trust
Financial information for each of the Company's business segments
Total assets	28,231
Level 1
Financial information for each of the Company's business segments
Total assets	28,231
Contingent consideration	0
Total liabilities	0
Level 1 \| Interest rate swap
Financial information for each of the Company's business segments
Interest rate swap	0
Level 1 \| Deferred compensation assets - Rabbi Trust
Financial information for each of the Company's business segments
Total assets	28,231
Level 2
Financial information for each of the Company's business segments
Total assets	17,737
Contingent consideration	0
Total liabilities	0
Level 2 \| Interest rate swap
Financial information for each of the Company's business segments
Interest rate swap	17,737
Level 2 \| Deferred compensation assets - Rabbi Trust
Financial information for each of the Company's business segments
Total assets	0
Level 3
Financial information for each of the Company's business segments
Total assets	0
Contingent consideration	21,340
Total liabilities	21,340
Level 3 \| Interest rate swap
Financial information for each of the Company's business segments
Interest rate swap	0
Level 3 \| Deferred compensation assets - Rabbi Trust
Financial information for each of the Company's business segments
Total assets	$ 0

Stock Compensation - Narrative

Stock Compensation - Narrative (Details) - shares shares in Thousands	3 Months Ended	6 Months Ended
	Dec. 31, 2021	Mar. 31, 2022
Restricted Stock Units (RSUs)
Stock-based compensation
Shares issued (in shares)	340
Restricted Stock Units (RSUs) \| Member of Board of Directors \| 2021 Stock Incentive Plan
Stock-based compensation
Vesting period		1 year
Restricted Stock Units (RSUs) \| Minimum
Stock-based compensation
Vesting period	3 years
Restricted Stock Units (RSUs) \| Minimum \| 2021 Stock Incentive Plan
Stock-based compensation
Vesting period		3 years
Restricted Stock Units (RSUs) \| Maximum
Stock-based compensation
Vesting period	4 years
Restricted Stock Units (RSUs) \| Maximum \| 2021 Stock Incentive Plan
Stock-based compensation
Vesting period		5 years
Performance Shares
Stock-based compensation
Shares issued (in shares)	87
Performance Shares \| 2021 Stock Incentive Plan
Stock-based compensation
Vesting period	3 years	3 years
Performance Shares \| Minimum \| 2021 Stock Incentive Plan
Stock-based compensation
Vesting rights, percentage		0.00%
Performance Shares \| Maximum \| 2021 Stock Incentive Plan
Stock-based compensation
Vesting rights, percentage		200.00%

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 1,528,426	$ 1,298,311	$ 1,480,329	$ 1,241,819
Other comprehensive income	10,666	770	13,810	7,693
Ending balance	1,554,216	1,369,905	1,554,216	1,369,905
Foreign currency translation adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			(39,605)
Other comprehensive income before reclassifications			436
Amounts reclassified from accumulated other comprehensive loss			0
Other comprehensive income			436
Ending balance	(39,169)		(39,169)
Net unrealized (loss)/gain on derivatives, net of tax
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			(303)
Other comprehensive income before reclassifications	10,225	0	12,401	0
Amounts reclassified from accumulated other comprehensive loss	464	0	973	0
Other comprehensive income	10,689	$ 0	13,374	$ 0
Ending balance	13,071		13,071
Total
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			(39,908)
Other comprehensive income before reclassifications			12,837
Amounts reclassified from accumulated other comprehensive loss			973
Other comprehensive income			13,810
Ending balance	$ (26,098)		$ (26,098)

Stock Purchases - Narrative (De

Stock Purchases - Narrative (Details) - USD ($)	1 Months Ended	3 Months Ended				6 Months Ended
Stock Purchases - Narrative (Details) - USD ($)	May 04, 2022	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Equity, Class of Treasury Stock [Line Items]
Stock repurchase programs, authorized amount								$ 200,000,000
Amount remaining available for future stock repurchases		$ 120,800,000				$ 120,800,000
Common shares repurchased (in shares)		330,000		0		348,000	52,000
Repurchases of common stock		$ 24,464,000	$ 1,379,000	$ 0	$ 3,363,000	$ 25,843,000	$ 3,363,000
Subsequent Event
Equity, Class of Treasury Stock [Line Items]
Common shares repurchased (in shares)	238,431
Repurchases of common stock	$ 17,700,000

Stock Purchases - Schedule of S

Stock Purchases - Schedule of Stock Purchase Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2022	Mar. 31, 2021
Equity [Abstract]
Amount paid for shares repurchased	$ 24,464	$ 1,379	$ 0	$ 3,363	$ 25,843	$ 3,363
Number of shares repurchased (in shares)	330		0		348	52
Average per share price paid (in dollars per share)	$ 74.22		$ 0		$ 74.26	$ 64.98

Cash And Cash Equivalents And_3

Cash And Cash Equivalents And Restricted Cash - Schedule of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Sep. 30, 2021	Mar. 31, 2021	Sep. 30, 2020
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	$ 92,638	$ 135,061
Restricted cash	19,330	21,509
Cash, cash equivalents, and restricted cash	$ 111,968	$ 156,570	$ 119,965	$ 88,561

Cash And Cash Equivalents And_4

Cash And Cash Equivalents And Restricted Cash - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Interest payments	$ 17,755	$ 783
Income tax payments	$ 50,531	$ 42,495

Accounts Receivable, Net (Detai

Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Sep. 30, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses	$ (5,150)	$ (8,044)
Accounts receivable, net	885,685	834,819
Billed and billable receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable gross	742,713	718,728
Unbilled receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable gross	$ 148,122	$ 124,135

Property And Equipment, Net (De

Property And Equipment, Net (Details) $ in Thousands	Mar. 31, 2022USD ($)building	Sep. 30, 2021USD ($)
Property, Plant and Equipment [Line Items]
Property and equipment, at cost	$ 335,336	$ 347,759
Accumulated depreciation	(277,391)	(285,132)
Property and equipment, net	$ 57,945	62,627
Number of buildings classified as held for sale \| building	1
Prepaid expenses and other current assets \| Building
Property, Plant and Equipment [Line Items]
Property and equipment, net	$ 5,400
Land
Property, Plant and Equipment [Line Items]
Property and equipment, at cost	0	1,738
Building and improvements
Property, Plant and Equipment [Line Items]
Property and equipment, at cost	0	11,981
Office furniture and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, at cost	247,100	254,102
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, at cost	$ 88,236	$ 79,938

Commitments and contingencies -

Commitments and contingencies - Narrative (Details) $ in Millions	Mar. 31, 2022USD ($)disallowance
Loss Contingencies [Line Items]
Number of disallowances \| disallowance	2
Settled Litigation
Loss Contingencies [Line Items]
Disallowance	$ 7.3
Pending Litigation
Loss Contingencies [Line Items]
Disallowance	$ 19.9

Subsequent Event (Details)

Subsequent Event (Details) - USD ($) $ / shares in Units, $ in Millions	May 31, 2022	Apr. 08, 2022
Subsequent Event
Subsequent Event [Line Items]
Cash dividend declared (in dollars per share)		$ 0.28
Common Stock \| Forecast
Subsequent Event [Line Items]
Payments of dividends	$ 17.3