Maximus (MMS) 10-Q 9 May 24 2024 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Mar. 31, 2024	May 06, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
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		60,796,458
Entity Central Index Key	0001032220
Current Fiscal Year End Date	--09-30
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Revenue	$ 1,348,357	$ 1,206,852	$ 2,675,398	$ 2,456,098
Cost of revenue	1,030,768	978,249	2,057,755	1,982,748
Gross profit	317,589	228,603	617,643	473,350
Selling, general, and administrative expenses	168,454	142,448	337,649	288,900
Amortization of intangible assets	21,641	23,650	44,990	47,168
Operating income	127,494	62,505	235,004	137,282
Interest expense	20,366	20,999	41,873	42,605
Other expense/(income), net	(822)	(818)	(334)	(1,084)
Income before income taxes	107,950	42,324	193,465	95,761
Provision for income taxes	27,440	10,536	48,807	23,978
Net income	$ 80,510	$ 31,788	$ 144,658	$ 71,783
Earnings per share:
Basic (in dollars per share)	$ 1.31	$ 0.52	$ 2.36	$ 1.17
Diluted (in dollars per share)	$ 1.31	$ 0.52	$ 2.35	$ 1.17
Weighted average shares outstanding:
Basic (in shares)	61,371	61,120	61,330	61,119
Diluted (in shares)	61,622	61,383	61,573	61,265
Dividends declared per share (in dollars per share)	$ 0.30	$ 0.28	$ 0.60	$ 0.56

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 80,510	$ 31,788	$ 144,658	$ 71,783
Other comprehensive (loss)/income, net of tax:
Foreign currency translation adjustments	(2,245)	965	3,667	9,001
Net gains/(losses) on cash flow hedge, net of tax effect of $957, $(1,630), $(2,212), and $(2,979), respectively	2,684	(4,562)	(6,201)	(8,343)
Other comprehensive income/(loss)	439	(3,597)	(2,534)	658
Comprehensive income	$ 80,949	$ 28,191	$ 142,124	$ 72,441

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net losses on cash flow hedges, tax	$ 957	$ (1,630)	$ (2,212)	$ (2,979)

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
Assets:
Cash and cash equivalents	$ 77,370	$ 65,405
Accounts receivable, net	916,004	826,873
Income taxes receivable	14,167	16,556
Prepaid expenses and other current assets	110,912	146,632
Total current assets	1,118,453	1,055,466
Property and equipment, net	35,371	38,831
Capitalized software, net	141,943	107,811
Operating lease right-of-use assets	148,413	163,929
Goodwill	1,780,158	1,779,215
Intangible assets, net	676,909	703,648
Deferred contract costs, net	49,102	45,372
Deferred compensation plan assets	51,786	42,919
Deferred income taxes	2,129	2,459
Other assets	36,880	46,147
Total assets	4,041,144	3,985,797
Liabilities:
Accounts payable and accrued liabilities	276,199	282,081
Accrued compensation and benefits	172,601	194,251
Deferred revenue, current portion	76,574	60,477
Income taxes payable	15,792	451
Long-term debt, current portion	88,517	86,844
Operating lease liabilities, current portion	48,470	49,852
Other current liabilities	50,563	49,058
Total current liabilities	728,716	723,014
Deferred revenue, non-current portion	33,374	38,849
Deferred income taxes	192,890	203,898
Long-term debt, non-current portion	1,121,337	1,163,149
Deferred compensation plan liabilities, non-current portion	53,539	46,432
Operating lease liabilities, non-current portion	112,780	129,367
Other liabilities	9,365	13,253
Total liabilities	2,252,001	2,317,962
Commitments and contingencies (Note 11)
Shareholders' equity:
Common stock, no par value; 100,000 shares authorized; 61,037 and 60,998 shares issued and outstanding as of March 31, 2024, and September 30, 2023, respectively	594,387	577,898
Accumulated other comprehensive loss	(30,149)	(27,615)
Retained earnings	1,224,905	1,117,552
Total shareholders' equity	1,789,143	1,667,835
Total liabilities and shareholders' equity	$ 4,041,144	$ 3,985,797

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - shares shares in Thousands	Mar. 31, 2024	Sep. 30, 2023
Statement of Financial Position [Abstract]
Common stock, shares authorized (in shares)	100,000	100,000
Common stock, shares issued (in shares)	61,037	60,998
Common stock, shares outstanding (in shares)	61,037	60,998

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities:
Net income	$ 144,658	$ 71,783
Adjustments to reconcile net income to cash flows from operations:
Depreciation and amortization of property, equipment, and capitalized software	16,616	26,321
Amortization of intangible assets	44,990	47,168
Amortization of debt issuance costs and debt discount	1,202	1,635
Deferred income taxes	(8,315)	(1,368)
Stock compensation expense	18,124	13,943
Loss on sale of businesses	1,018	883
Change in assets and liabilities, net of effects of business combinations:
Accounts receivable	(92,385)	62,529
Prepaid expenses and other current assets	19,932	13,412
Deferred contract costs	(3,600)	583
Accounts payable and accrued liabilities	(6,301)	(6,361)
Accrued compensation and benefits	(10,556)	(14,222)
Deferred revenue	10,705	(18,347)
Income taxes	13,310	(6,578)
Operating lease right-of-use assets and liabilities	(385)	(2,072)
Other assets and liabilities	3,083	(14,272)
Net cash provided by operating activities	152,096	175,037
Cash flows from investing activities:
Purchases of property and equipment and capitalized software	(47,547)	(33,751)
Asset acquisition	(18,006)	0
Proceeds from divestitures	3,078	9,124
Net cash used in investing activities	(62,475)	(24,627)
Cash flows from financing activities:
Cash dividends paid to Maximus shareholders	(36,608)	(34,033)
Tax withholding related to RSU vesting	(13,455)	(8,475)
Payments for contingent consideration	(8,168)	(4,041)
Proceeds from borrowings	423,409	462,398
Principal payments for debt	(464,787)	(530,460)
Cash-collateralized escrow liabilities	5,122	(57,060)
Net cash used in financing activities	(94,487)	(171,671)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	1,115	3,186
Net change in cash, cash equivalents, and restricted cash	(3,751)	(18,075)
Cash, cash equivalents, and restricted cash, beginning of period	122,091	136,795
Cash, cash equivalents, and restricted cash, end of period	$ 118,340	$ 118,720

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, 2022		60,774
Beginning balance at Sep. 30, 2022	$ 1,549,371	$ 557,978	$ (33,961)	$ 1,025,354
Increase (Decrease) in Shareholders' Equity
Net income	39,995			39,995
Foreign currency translation	8,036		8,036
Cash flow hedge, net of tax	(3,781)		(3,781)
Cash dividends	(17,017)			(17,017)
Dividends on RSUs	0	298		(298)
Stock compensation expense	4,403	$ 4,403
Ending (in shares) at Dec. 31, 2022		60,774
Ending balance at Dec. 31, 2022	1,581,007	$ 562,679	(29,706)	1,048,034
Balance (in shares) at Sep. 30, 2022		60,774
Beginning balance at Sep. 30, 2022	1,549,371	$ 557,978	(33,961)	1,025,354
Increase (Decrease) in Shareholders' Equity
Net income	71,783
Foreign currency translation	9,001
Cash flow hedge, net of tax	(8,343)
Ending (in shares) at Mar. 31, 2023		60,784
Ending balance at Mar. 31, 2023	1,601,722	$ 572,632	(33,303)	1,062,393
Balance (in shares) at Dec. 31, 2022		60,774
Beginning balance at Dec. 31, 2022	1,581,007	$ 562,679	(29,706)	1,048,034
Increase (Decrease) in Shareholders' Equity
Net income	31,788			31,788
Foreign currency translation	965		965
Cash flow hedge, net of tax	(4,562)		(4,562)
Cash dividends	(17,016)			(17,016)
Dividends on RSUs	0	413		(413)
Stock compensation expense	9,540	$ 9,540
RSUs vested (in shares)		10
Ending (in shares) at Mar. 31, 2023		60,784
Ending balance at Mar. 31, 2023	$ 1,601,722	$ 572,632	(33,303)	1,062,393
Balance (in shares) at Sep. 30, 2023	60,998	60,998
Beginning balance at Sep. 30, 2023	$ 1,667,835	$ 577,898	(27,615)	1,117,552
Increase (Decrease) in Shareholders' Equity
Net income	64,148			64,148
Foreign currency translation	5,912		5,912
Cash flow hedge, net of tax	(8,885)		(8,885)
Cash dividends	(18,299)			(18,299)
Dividends on RSUs	0	285		(285)
Stock compensation expense	9,427	9,427
Tax withholding adjustment related to RSU vesting	(2,332)	$ (2,332)
RSUs vested (in shares)		33
Ending (in shares) at Dec. 31, 2023		61,031
Ending balance at Dec. 31, 2023	$ 1,717,806	$ 585,278	(30,588)	1,163,116
Balance (in shares) at Sep. 30, 2023	60,998	60,998
Beginning balance at Sep. 30, 2023	$ 1,667,835	$ 577,898	(27,615)	1,117,552
Increase (Decrease) in Shareholders' Equity
Net income	144,658
Foreign currency translation	3,667
Cash flow hedge, net of tax	$ (6,201)
Ending (in shares) at Mar. 31, 2024	61,037	61,037
Ending balance at Mar. 31, 2024	$ 1,789,143	$ 594,387	(30,149)	1,224,905
Balance (in shares) at Dec. 31, 2023		61,031
Beginning balance at Dec. 31, 2023	1,717,806	$ 585,278	(30,588)	1,163,116
Increase (Decrease) in Shareholders' Equity
Net income	80,510			80,510
Foreign currency translation	(2,245)		(2,245)
Cash flow hedge, net of tax	2,684		2,684
Cash dividends	(18,309)			(18,309)
Dividends on RSUs	0	412		(412)
Stock compensation expense	$ 8,697	$ 8,697
RSUs vested (in shares)		6
Ending (in shares) at Mar. 31, 2024	61,037	61,037
Ending balance at Mar. 31, 2024	$ 1,789,143	$ 594,387	$ (30,149)	$ 1,224,905

Organization

Organization	6 Months Ended
	Mar. 31, 2024
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. Under our mission of Moving People Forward , we help millions of people access the vital government services they need. With over 45 years of experience working with local, state, federal, and international government clients, we proudly design, develop, and deliver innovative and impactful programs that change lives. We are driven to strengthen communities and improve the lives of those we serve. We are a proud partner to government agencies in the United States ("U.S.") and worldwide.

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Significant Accounting Policies	SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying consolidated financial statements, including the notes, include the accounts of the Company and its wholly-owned subsidiaries and have been prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP") and the rules and regulations of the U.S. Securities and Exchange Commission ("SEC"). All intercompany balances and transactions have been eliminated in consolidation. Basis of Presentation for Interim Periods Certain information and footnote disclosures normally included for the annual financial statements to be 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 accompanying notes contained in our Annual Report on Form 10-K for the fiscal year ended September 30, 2023. We have continued to follow the accounting policies set forth in those financial statements. Use of 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 long-lived assets, including goodwill, and amounts related to income taxes, certain accrued liabilities, and contingencies and litigation.

Business Segments

Business Segments	6 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Business Segments	BUSINESS SEGMENTS We conduct our operations through three business segments: U.S. Federal Services, U.S. Services, and Outside the U.S. U.S. Federal Services Our U.S. Federal Services Segment delivers end-to-end solutions that help various U.S. federal government agencies better deliver on their mission, including program operations and management, clinical services, and technology solutions. This segment also includes appeals and assessments services, system and application development, Information Technology ("IT") modernization, and maintenance services. Certain state-based assessments and appeals work that is part of the segment's heritage continues to be managed within this segment. Under Technology Consulting Services ("TCS"), 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 through Veteran's Evaluation Services ("VES"), a Maximus company, that manages the clinical evaluation process for U.S. veterans and service members on behalf of the U.S. Department of Veterans Affairs ("VA"). U.S. Services Our U.S. Services Segment provides a variety of business process services ("BPS"), such as program administration, 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. Previously, this segment suffered from reduced operating leverage resulting from the pause in Medicaid redeterminations during the COVID-19 pandemic, which resumed in fiscal year 2023. Outside the U.S. Our Outside the U.S. Segment provides BPS for international governments, 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 United Kingdom, including the Health Assessment Advisory Service and the recently awarded replacement contract to start in 2024, Functional Assessment Services, and Restart; and Australia, including Workforce Australia, and other employment support and job seeker services worldwide. Table 3: Results of Operation by Business Segment For the Three Months Ended For the Six Months Ended March 31, 2024 March 31, 2023 March 31, 2024 March 31, 2023 Amount % (1) Amount % (1) Amount % (1) Amount % (1) (dollars in thousands) Revenue: U.S. Federal Services $ 701,702 $ 584,075 $ 1,378,780 $ 1,202,242 U.S. Services 486,115 449,703 975,960 889,181 Outside the U.S. 160,540 173,074 320,658 364,675 Revenue $ 1,348,357 $ 1,206,852 $ 2,675,398 $ 2,456,098 Gross profit: U.S. Federal Services $ 163,337 23.3 % $ 122,874 21.0 % $ 319,999 23.2 % $ 245,568 20.4 % U.S. Services 130,122 26.8 % 86,016 19.1 % 248,485 25.5 % 169,614 19.1 % Outside the U.S. 24,130 15.0 % 19,713 11.4 % 49,159 15.3 % 58,168 16.0 % Gross profit $ 317,589 23.6 % $ 228,603 18.9 % $ 617,643 23.1 % $ 473,350 19.3 % Selling, general, and administrative expenses: U.S. Federal Services $ 79,867 11.4 % $ 75,050 12.8 % $ 167,722 12.2 % $ 146,699 12.2 % U.S. Services 62,201 12.8 % 43,415 9.7 % 114,501 11.7 % 89,257 10.0 % Outside the U.S. 23,460 14.6 % 23,425 13.5 % 48,601 15.2 % 51,814 14.2 % Divestiture-related charges (2) — NM 883 NM 1,018 NM 883 NM Other (3) 2,926 NM (325) NM 5,807 NM 247 NM Selling, general, and administrative expenses $ 168,454 12.5 % $ 142,448 11.8 % $ 337,649 12.6 % $ 288,900 11.8 % Operating income/(loss): U.S. Federal Services $ 83,470 11.9 % $ 47,824 8.2 % $ 152,277 11.0 % $ 98,869 8.2 % U.S. Services 67,921 14.0 % 42,601 9.5 % 133,984 13.7 % 80,357 9.0 % Outside the U.S. 670 0.4 % (3,712) (2.1) % 558 0.2 % 6,354 1.7 % Amortization of intangible assets (21,641) NM (23,650) NM (44,990) NM (47,168) NM Divestiture-related charges (2) — NM (883) NM (1,018) NM (883) NM Other (3) (2,926) NM 325 NM (5,807) NM (247) NM Operating income $ 127,494 9.5 % $ 62,505 5.2 % $ 235,004 8.8 % $ 137,282 5.6 % (1) Percentage of respective segment revenue. Percentages not considered meaningful are marked "NM." (2) We have sold businesses in both fiscal years 2023 and 2024. Refer to "Note 7. Acquisitions and Divestitures" for more details. (3) Other expenses includes credits and 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
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue Recognition	REVENUE RECOGNITION We recognize revenue as, or when, we satisfy performance obligations under a contract. The majority of our contracts have performance obligations that 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. We recognize revenue over the performance period as a customer receives the benefits of our services. Disaggregation of Revenue In addition to our segment reporting, we disaggregate our revenues by contract type and customer type. 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, 2024 March 31, 2023 March 31, 2024 March 31, 2023 (dollars in thousands) Performance-based $ 738,888 54.8 % $ 574,747 47.6 % $ 1,443,599 54.0 % $ 1,143,964 46.6 % Cost-plus 334,498 24.8 % 312,176 25.9 % 676,513 25.3 % 659,495 26.9 % Fixed price 166,816 12.4 % 180,674 15.0 % 343,493 12.8 % 355,747 14.5 % Time and materials 108,155 8.0 % 139,255 11.5 % 211,793 7.9 % 296,892 12.1 % Total revenue $ 1,348,357 $ 1,206,852 $ 2,675,398 $ 2,456,098 Table 4.2: Revenue by Customer Type For the Three Months Ended For the Six Months Ended March 31, 2024 March 31, 2023 March 31, 2024 March 31, 2023 (dollars in thousands) U.S. federal government agencies $ 685,939 50.9 % $ 569,897 47.2 % $ 1,348,885 50.4 % $ 1,173,815 47.8 % U.S. state government agencies 483,147 35.8 % 446,549 37.0 % 970,090 36.3 % 883,911 36.0 % International government agencies 156,796 11.6 % 161,359 13.4 % 312,408 11.7 % 343,119 14.0 % Other, including local municipalities and commercial customers 22,475 1.7 % 29,047 2.4 % 44,015 1.6 % 55,253 2.2 % Total revenue $ 1,348,357 $ 1,206,852 $ 2,675,398 $ 2,456,098 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, and such balances are considered collectible and are included within accounts receivable, net. 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, 2024, and September 30, 2023, $24.1 million and $20.7 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 that 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, 2024, we recognized revenue of $7.6 million and $45.3 million, respectively, included in our deferred revenue balances at September 30, 2023. During the three and six months ended March 31, 2023, we recognized revenue of $34.8 million and $85.9 million, respectively, included in our deferred revenue balances at September 30, 2022. Contract estimates We are required to use estimates in recognizing revenue from some of our contracts. S ome of our performance-based contract revenue is recognized based upon future milestones 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 milestones, which may take many months to achieve. We recognize revenue over the period of performance. Our estimates vary from contract to contract but may include the number of participants within a portfolio reaching employment milestones and the service delivery periods for participants reaching the employment milestone. We estimate the total variable fees we will receive using the expected value method. We recognize the fees over the expected period of performance. At each reporting period, we update our estimates of the variable fees to represent the circumstances present at the end of the reporting period. We are required to constrain our estimates to the extent that it is probable that there will not be a significant reversal of cumulative revenue when the uncertainty is resolved. We do not have a history of significant constraints on these contracts. Table 4.3: Effect of Changes in Contract Estimates For the Three Months Ended For the Six Months Ended March 31, 2024 March 31, 2023 March 31, 2024 March 31, 2023 (in thousands, except per share data) Benefit to/(reduction of) revenue recognized due to changes in contract estimates $ (3,098) $ (6,496) $ (9,196) $ (6,137) Benefit to/(reduction of) diluted earnings per share recognized due to changes in contract estimates $ (0.04) $ (0.08) $ (0.11) $ (0.07) Remaining performance obligations As of March 31, 2024, we had approximately $275 million of remaining performance obligations. We anticipate that we will recognize revenue on approximately 75% 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 that 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
	Mar. 31, 2024
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, 2024 March 31, 2023 March 31, 2024 March 31, 2023 (in thousands) Basic weighted average shares outstanding 61,371 61,120 61,330 61,119 Dilutive effect of unvested RSUs and PSUs 251 263 243 146 Denominator for diluted earnings per share 61,622 61,383 61,573 61,265 The diluted earnings per share calculation for the three and six months ended March 31, 2024, excludes approximately 202,000 and 227,000 unvested anti-dilutive restricted stock units, respectively. For the three and six months ended March 31, 2023, approximately 99,000 and 300,000 unvested anti-dilutive restricted stock units were excluded from the diluted earnings per share calculation, respectively.

Debt And Derivatives

Debt And Derivatives	6 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Debt And Derivatives	DEBT AND DERIVATIVES Table 6.1: Details of Debt March 31, 2024 September 30, 2023 (in thousands) Term Loan A, due 2026 $ 868,125 $ 909,375 Term Loan B, due 2028 343,170 344,934 Subsidiary loan agreements 4,892 3,220 Total debt principal 1,216,187 1,257,529 Less: Unamortized debt-issuance costs and discounts (6,333) (7,536) Total debt 1,209,854 1,249,993 Less: Current portion of long-term debt (88,517) (86,844) Long-term debt $ 1,121,337 $ 1,163,149 Our credit agreements require us to comply with a number of covenants, including leverage and interest coverage ratios. At March 31, 2024, we are in compliance with all covenants. We do not believe that the covenants represent a significant restriction on our ability to successfully operate the business or to pay dividends. The following table sets forth future minimum principal payments due under our debt obligations as of March 31, 2024, for the remainder of fiscal year 2024 through fiscal year 2028: Table 6.2: Details of Future Minimum Principal Payments Due Amount Due (in thousands) April 1, 2024 through September 30, 2024 $ 47,906 Year ended September 30, 2025 92,903 Year ended September 30, 2026 741,028 Year ended September 30, 2027 3,528 Year ended September 30, 2028 330,822 Total Payments $ 1,216,187 Interest Rate Derivative Instruments To reduce our interest rate credit risk, we entered into interest-rate swap agreements covering $650 million of our Term Loan A, effectively setting a fixed rate for a portion of our debt. The balance of the debt pays interest based upon a floating index. At March 31, 2024, our effective interest rate, including the original issuance costs and discount rate, was 5.9%. At March 31, 2024, we recorded an asset of $22.6 million to reflect the fair value of these interest rate swap agreements, compared to an asset of $31.0 million at September 30, 2023. The asset is recorded as "other assets" within our consolidated balance sheet. Our interest rate agreement for a notional amount of $150 million expires in September 2024; the remaining balance of our swap agreements expires in May 2026, concurrent with the maturity of Term Loan A.
Debt And Derivatives	DEBT AND DERIVATIVES Table 6.1: Details of Debt March 31, 2024 September 30, 2023 (in thousands) Term Loan A, due 2026 $ 868,125 $ 909,375 Term Loan B, due 2028 343,170 344,934 Subsidiary loan agreements 4,892 3,220 Total debt principal 1,216,187 1,257,529 Less: Unamortized debt-issuance costs and discounts (6,333) (7,536) Total debt 1,209,854 1,249,993 Less: Current portion of long-term debt (88,517) (86,844) Long-term debt $ 1,121,337 $ 1,163,149 Our credit agreements require us to comply with a number of covenants, including leverage and interest coverage ratios. At March 31, 2024, we are in compliance with all covenants. We do not believe that the covenants represent a significant restriction on our ability to successfully operate the business or to pay dividends. The following table sets forth future minimum principal payments due under our debt obligations as of March 31, 2024, for the remainder of fiscal year 2024 through fiscal year 2028: Table 6.2: Details of Future Minimum Principal Payments Due Amount Due (in thousands) April 1, 2024 through September 30, 2024 $ 47,906 Year ended September 30, 2025 92,903 Year ended September 30, 2026 741,028 Year ended September 30, 2027 3,528 Year ended September 30, 2028 330,822 Total Payments $ 1,216,187 Interest Rate Derivative Instruments To reduce our interest rate credit risk, we entered into interest-rate swap agreements covering $650 million of our Term Loan A, effectively setting a fixed rate for a portion of our debt. The balance of the debt pays interest based upon a floating index. At March 31, 2024, our effective interest rate, including the original issuance costs and discount rate, was 5.9%. At March 31, 2024, we recorded an asset of $22.6 million to reflect the fair value of these interest rate swap agreements, compared to an asset of $31.0 million at September 30, 2023. The asset is recorded as "other assets" within our consolidated balance sheet. Our interest rate agreement for a notional amount of $150 million expires in September 2024; the remaining balance of our swap agreements expires in May 2026, concurrent with the maturity of Term Loan A.

Acquisitions And Divestitures

Acquisitions And Divestitures	6 Months Ended
	Mar. 31, 2024
Business Combination and Asset Acquisition [Abstract]
Acquisitions And Divestitures	ACQUISITIONS AND DIVESTITURES On February 14, 2024, we acquired part of a vendor who has performed IT services for us over several years for cash consideration of $18.0 million. Almost all of the consideration was allocated directly to the most significant asset, the acquired workforce. The value of this asset will be amortized over eight years. This asset is anticipated to provide support across all three of our operating segments. We have sold a number of components of our Outside the U.S. Segment: • In November 2023, we sold our businesses in Italy and Singapore, as well as our employment services business in Canada, recording a loss on sale of $1.0 million. During the fourth quarter of fiscal year 2023, we recorded an impairment charge of $2.9 million related to these assets. • In March 2023, we sold our commercial practice in the United Kingdom, resulting in a pre-tax loss of $0.6 million. The cash consideration had a fair value of $16 million, to be received in installments. At March 31, 2024, we have collected $12.2 million. • In March 2023, we sold our Swedish subsidiary for cash consideration of $0.4 million, resulting in a small loss.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS The following assets and liabilities are recorded at fair value on a recurring basis. • We hold mutual fund assets within a Rabbi Trust to cover liabilities in our deferred compensation plan. These assets have prices quoted within active markets and, accordingly, are classified as level 1 within the fair value hierarchy. • We have interest rate swap agreements serving to reduce our interest rate risk on our debt. These agreements can be valued using observable data and, accordingly, are classified as level 2 within the fair value hierarchy. • We anticipate paying additional consideration for certain acquisitions based upon the subsequent performance of the businesses acquired. This liability is based upon our internal assumptions regarding revenues, margins, volumes, and contract terms. Accordingly, these inputs are not observable and are classified as level 3 within the fair value hierarchy. The tables below present assets and liabilities measured and recorded at fair value in our consolidated balance sheets on a recurring basis and their corresponding level within the fair value hierarchy. No transfers between Level 1, Level 2, and Level 3 fair value measurements occurred for the three months ended March 31, 2024. Table 8.1: Fair Value Measurements As of March 31, 2024 Level 1 Level 2 Level 3 Balance (in thousands) Assets: Deferred compensation assets - Rabbi Trust $ 31,969 $ — $ — $ 31,969 Interest rate swaps - $650 million notional value — 22,614 — 22,614 Total assets $ 31,969 $ 22,614 $ — $ 54,583 Liabilities: Contingent consideration — — 2,795 2,795 Total liabilities $ — $ — $ 2,795 $ 2,795 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). Accumulated Other Comprehensive Loss All amounts recorded in accumulated other comprehensive loss are related to our foreign currency translations and interest rate swaps, net of tax. The following table shows changes in accumulated other comprehensive loss. Amounts reclassified from other comprehensive income were recorded within our selling, general and administrative expenses (for foreign currency translation adjustments) and within interest expense (for gains on derivatives). Table 8.2: Details of Changes in Accumulated Other Comprehensive Loss by Category Foreign currency translation adjustment Net unrealized gain on derivatives, net of tax Total (in thousands) Balance as of September 30, 2023 $ (50,484) $ 22,869 $ (27,615) Other comprehensive income before reclassifications 3,534 (54) 3,480 Amounts reclassified from accumulated other comprehensive loss 133 (6,147) (6,014) Net current period other comprehensive losses 3,667 (6,201) (2,534) Balance as of March 31, 2024 $ (46,817) $ 16,668 $ (30,149) Contingent Consideration The fair value of our contingent considerations are based upon estimates of the likely payments, which are based upon assumptions over future performance. The liabilities are reviewed on a quarterly basis and, where changes in estimates arise, these are recorded to selling and general administrative expenses. Our contingent consideration relates to the businesses below: • In October 2021, we acquired the student loan servicing business from Navient, rebranded as Aidvantage. Future payments are based upon volumes, up to a maximum payment of $65.0 million. At March 31, 2024, and September 30, 2023, the Aidvantage contingent consideration was $2.8 million and $7.5 million, respectively. • In January 2022, we acquired BZ Bodies Limited. Future payments were based upon the performance of the business through December 2023, up to a maximum payment of $2.5 million (£2.0 million British Pounds). At September 30, 2023, we recorded a contingent consideration liability for the maximum payment, which we made in the second quarter of fiscal year 2024. Movement in our contingent consideration balance is as follows: Table 8.3: Fair Value Measurement Using Significant Unobservable Inputs (Level 3) Contingent Consideration (in thousands) Opening contingent consideration as of September 30, 2023 $ 9,903 Adjustments to fair value recorded in the period 971 Cash payments (8,168) Foreign currency translations 89 Closing contingent consideration as of March 31, 2024 $ 2,795

Equity

Equity	6 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Equity	EQUITY Stock Compensation We grant restricted stock units ("RSUs") and performance stock units ("PSUs") to eligible participants under our 2021 Omnibus 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, 2024, we issued approximately 335,000 RSUs, which will vest ratably over one Share Purchase Program Under a resolution adopted in March 2020, the Board of Directors authorized the purchase, at management's discretion, of up to $200 million of our common stock. No purchases were made during the first six months of fiscal year 2024; since March 31, 2024, we have purchased approximately 242,000 common shares at a cost of $19.3 million.

Other Balance Sheet Items

Other Balance Sheet Items	6 Months Ended
	Mar. 31, 2024
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents [Abstract]
Other Balance Sheet Items	OTHER BALANCE SHEET ITEMS Cash, Cash Equivalents, and Restricted Cash Table 10.1: Details of Cash and Cash Equivalents and Restricted Cash March 31, 2024 September 30, 2023 (in thousands) Cash and cash equivalents $ 77,370 $ 65,405 Restricted cash 40,970 56,686 Cash, cash equivalents, and restricted cash $ 118,340 $ 122,091 Restricted cash is recorded within "Prepaid expenses and other current assets" on the Consolidated Balance Sheets. Table 10.2: Supplemental Disclosures of Cash Flow Information For the Six Months Ended March 31, 2024 March 31, 2023 (in thousands) Interest payments $ 39,946 $ 19,262 Income tax payments $ 43,794 $ 31,926 Accounts Receivable, Net Table 10.3: Details of Accounts Receivable, Net March 31, 2024 September 30, 2023 (in thousands) Billed and billable receivables $ 776,877 $ 692,707 Unbilled receivables 150,956 137,885 Allowance for credit losses (11,829) (3,719) Accounts receivable, net $ 916,004 $ 826,873 On September 21, 2022, we entered into a Receivables Purchase Agreement with Wells Fargo Bank N.A., under which we may sell certain U.S.-originated accounts receivable balances up to a maximum amount of $200.0 million at any given time. In return for these sales, we receive a cash payment equal to the face value of the receivables less a financing charge. We account for these transfers as sales. We have no retained interest in the transferred receivables other than administrative responsibilities, and Wells Fargo has no recourse for any credit risk. We estimate that the implicit servicing fees for an arrangement of this size and type would be immaterial. For the six months ended March 31, 2024, the gross fair value of accounts receivables transferred to Wells Fargo and derecognized from our balance sheet was $133.0 million. In exchange for these sales, we received $132.2 million of cash. The balance, representing a loss on sale from these transfers, is included within our selling, general, and administrative expenses. We have recorded these transactions within our operating cash flows.

Commitments And Contingencies

Commitments And Contingencies	6 Months Ended
	Mar. 31, 2024
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. 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. We evaluate, on a regular basis, developments in our litigation matters and establish or make adjustments to our accruals as appropriate. A liability is accrued if a loss is probable and the amount of such loss can be reasonably estimated. If the risk of loss is probable, but the amount cannot be reasonably estimated, or the risk of loss is only reasonably possible, a potential liability will be disclosed but not accrued, if material. Due to the inherent uncertainty in the outcome of litigation, our estimates and assessments may prove to be incomplete or inaccurate and could be impacted by unanticipated events and circumstances, adverse outcomes, or other future determinations. MOVEit Cybersecurity Incident Litigation As the Company has previously disclosed, on May 31, 2023, Progress Software Corporation, the developer of MOVEit (“MOVEit”), a file transfer application used by many organizations to transfer data, announced a critical zero-day vulnerability in the application that allowed unauthorized third parties to access its customers’ MOVEit environments. Maximus uses MOVEit for internal and external file sharing purposes, including to share data with government customers related to Maximus's services in support of certain government programs. Based on its review of the impacted files to date, the Company has provided notices to individuals whose personal information, including social security numbers, protected health information, and/or other personal information, may have been included in the impacted files. On August 1, 2023, a purported class action was filed against Maximus Federal Services, Inc. (a wholly-owned subsidiary of Maximus, Inc.) in the U.S. District Court for the Eastern District of Virginia arising out of the MOVEit cybersecurity incident – Bishop v. Maximus Federal Services, Case No. 1:23-cv-01019 (U.S. Dist. Ct. E. D. VA). The plaintiff, who purports to represent a nationwide class of individuals, alleges, among other things, that the Company’s negligence resulted in the compromise of the plaintiff’s personally identifiable information and protected health information. Since August 1, 2023, approximately ten additional cases arising out of the MOVEit cybersecurity incident have been filed in federal courts against Maximus, Inc. and its subsidiaries. The most recent case, Forsyth ex rel. S.F. v. Maximus, Inc., et al., No. 1:24-cv-10218-ADB was filed January 26, 2024. These cases each allege substantially similar allegations on behalf of putative nationwide classes and on behalf of various putative state subclasses. On October 4, 2023, the United States Judicial Panel on Multidistrict Litigation granted a Motion to Transfer that created a Multidistrict Litigation (“MDL”) in the District of Massachusetts for all cases in federal court related to the MOVEit cybersecurity incident, including cases filed against Maximus and other defendants, including Progress Software Corporation, the creator of MOVEit. All of the cases against Maximus, Inc. and its subsidiaries initially filed in federal courts outside of the District of Massachusetts that are related to the MOVEit cybersecurity incident have now been transferred to the MDL under the caption In re: MOVEit Customer Data Security Breach Litigation and are currently stayed pending the filing of consolidated amended compliant(s). The plaintiffs in Bishop and the other cases against the company in the MDL seek damages to be proved at trial. The Company is not able to determine or predict the ultimate outcome of these proceedings or reasonably provide an estimate or range of the possible outcome or loss, if any. On September 6, 2023, an individual action was filed in state court in the Florida Circuit Court for the 7th Judicial Circuit, Volusia County: Taylor v. Maximus Federal Services, Case No. 2023-12349 (Fla. Cir. Ct., 7th Jud. Cir., Volusia Cnty.), also arising out of the MOVEit cybersecurity incident. The plaintiff alleges, among other things, that the Company’s negligence resulted in the compromise of the plaintiff’s personally identifiable information and protected health information. Since September 6, 2023, approximately eight additional individual actions have been filed against Maximus, Inc. and its subsidiaries in Florida state courts, one of which has been dismissed. The Taylor matter pending in Volusia County, Florida has been stayed. The remaining seven matters pending in Florida’s state courts are pending in Miami-Dade County court. Each of the actions pending in Florida courts raise substantially similar allegations and legal claims. The plaintiffs in these individual actions seek damages to be proved at trial. The Company is not able to determine or predict the ultimate outcome of these proceedings or reasonably provide an estimate or range of the possible outcome or loss, if any. On October 27, 2023, a purported class action was filed in state court in Marion Superior Court in Marion County, Indiana, against Maximus Health Services, Inc. (a wholly owned subsidiary of Maximus, Inc.): Solis Garcia v. Maximus Health Services, Inc., Case No. 49D12-2310-CT-042115 (Ind. Super. Ct., Marion Cnty.), again arising out of the MOVEit cybersecurity incident. The plaintiff, who purports to represent a class comprised of Indiana residents, alleges, among other things, that the Company’s negligence resulted in the compromise of the plaintiff’s personally identifiable information and protected health information. The plaintiff seeks damages to be proved at trial. The Company has removed this case to federal court in the Southern District of Indiana and it has been transferred to the MDL. The Company is not able to determine or predict the ultimate outcome of any of these proceedings or reasonably provide an estimate or range of the possible outcome or loss, if any. The Company is not able to determine or predict the ultimate outcome of any of these proceedings or reasonably provide an estimate or range of the possible outcome or loss, if any. Census Project – Civil Investigation Demand (“CID”) In 2021, Maximus received a CID from the U.S. Department of Justice (“DOJ”) pursuant to the False Claims Act seeking records pertaining to the Census project. The CID requested the production of documents related to the Company’s compliance with telephone call quality assurance scoring and reporting requirements. The Company is cooperating with the DOJ in its investigation and providing responses and information on an ongoing basis. As of March 31, 2024, the Company has reserve d $3.5 million i n connection with this matter. While it is reasonably possible that losses exceeding the amount accrued may be incurred, it is not possible at this time to estimate the additional possible loss in excess of the amount already accrued.

Subsequent Event

Subsequent Event	6 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstract]
Subsequent Event	SUBSEQUENT EVENT On April 5, 2024, our Board of Directors declared a quarterly cash dividend of $0.30 for each share of our common stock outstanding. The dividend is payable on May 31, 2024, to shareholders of record on May 15, 2024. Based on the number of shares outstanding, we anticipate a cash payment of approximately $18.3 million.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net income	$ 80,510	$ 64,148	$ 31,788	$ 39,995	$ 144,658	$ 71,783

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	6 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements, including the notes, include the accounts of the Company and its wholly-owned subsidiaries and have been prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP") and the rules and regulations of the U.S. Securities and Exchange Commission ("SEC"). All intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates	Use of 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 long-lived assets, including goodwill, and amounts related to income taxes, certain accrued liabilities, and contingencies and litigation.

Business Segments (Tables)

Business Segments (Tables)	6 Months Ended
	Mar. 31, 2024
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, 2024 March 31, 2023 March 31, 2024 March 31, 2023 Amount % (1) Amount % (1) Amount % (1) Amount % (1) (dollars in thousands) Revenue: U.S. Federal Services $ 701,702 $ 584,075 $ 1,378,780 $ 1,202,242 U.S. Services 486,115 449,703 975,960 889,181 Outside the U.S. 160,540 173,074 320,658 364,675 Revenue $ 1,348,357 $ 1,206,852 $ 2,675,398 $ 2,456,098 Gross profit: U.S. Federal Services $ 163,337 23.3 % $ 122,874 21.0 % $ 319,999 23.2 % $ 245,568 20.4 % U.S. Services 130,122 26.8 % 86,016 19.1 % 248,485 25.5 % 169,614 19.1 % Outside the U.S. 24,130 15.0 % 19,713 11.4 % 49,159 15.3 % 58,168 16.0 % Gross profit $ 317,589 23.6 % $ 228,603 18.9 % $ 617,643 23.1 % $ 473,350 19.3 % Selling, general, and administrative expenses: U.S. Federal Services $ 79,867 11.4 % $ 75,050 12.8 % $ 167,722 12.2 % $ 146,699 12.2 % U.S. Services 62,201 12.8 % 43,415 9.7 % 114,501 11.7 % 89,257 10.0 % Outside the U.S. 23,460 14.6 % 23,425 13.5 % 48,601 15.2 % 51,814 14.2 % Divestiture-related charges (2) — NM 883 NM 1,018 NM 883 NM Other (3) 2,926 NM (325) NM 5,807 NM 247 NM Selling, general, and administrative expenses $ 168,454 12.5 % $ 142,448 11.8 % $ 337,649 12.6 % $ 288,900 11.8 % Operating income/(loss): U.S. Federal Services $ 83,470 11.9 % $ 47,824 8.2 % $ 152,277 11.0 % $ 98,869 8.2 % U.S. Services 67,921 14.0 % 42,601 9.5 % 133,984 13.7 % 80,357 9.0 % Outside the U.S. 670 0.4 % (3,712) (2.1) % 558 0.2 % 6,354 1.7 % Amortization of intangible assets (21,641) NM (23,650) NM (44,990) NM (47,168) NM Divestiture-related charges (2) — NM (883) NM (1,018) NM (883) NM Other (3) (2,926) NM 325 NM (5,807) NM (247) NM Operating income $ 127,494 9.5 % $ 62,505 5.2 % $ 235,004 8.8 % $ 137,282 5.6 % (1) Percentage of respective segment revenue. Percentages not considered meaningful are marked "NM." (2) We have sold businesses in both fiscal years 2023 and 2024. Refer to "Note 7. Acquisitions and Divestitures" for more details. (3) Other expenses includes credits and 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
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	Table 4.1: Revenue by Contract Type For the Three Months Ended For the Six Months Ended March 31, 2024 March 31, 2023 March 31, 2024 March 31, 2023 (dollars in thousands) Performance-based $ 738,888 54.8 % $ 574,747 47.6 % $ 1,443,599 54.0 % $ 1,143,964 46.6 % Cost-plus 334,498 24.8 % 312,176 25.9 % 676,513 25.3 % 659,495 26.9 % Fixed price 166,816 12.4 % 180,674 15.0 % 343,493 12.8 % 355,747 14.5 % Time and materials 108,155 8.0 % 139,255 11.5 % 211,793 7.9 % 296,892 12.1 % Total revenue $ 1,348,357 $ 1,206,852 $ 2,675,398 $ 2,456,098 Table 4.2: Revenue by Customer Type For the Three Months Ended For the Six Months Ended March 31, 2024 March 31, 2023 March 31, 2024 March 31, 2023 (dollars in thousands) U.S. federal government agencies $ 685,939 50.9 % $ 569,897 47.2 % $ 1,348,885 50.4 % $ 1,173,815 47.8 % U.S. state government agencies 483,147 35.8 % 446,549 37.0 % 970,090 36.3 % 883,911 36.0 % International government agencies 156,796 11.6 % 161,359 13.4 % 312,408 11.7 % 343,119 14.0 % Other, including local municipalities and commercial customers 22,475 1.7 % 29,047 2.4 % 44,015 1.6 % 55,253 2.2 % Total revenue $ 1,348,357 $ 1,206,852 $ 2,675,398 $ 2,456,098 Table 4.3: Effect of Changes in Contract Estimates For the Three Months Ended For the Six Months Ended March 31, 2024 March 31, 2023 March 31, 2024 March 31, 2023 (in thousands, except per share data) Benefit to/(reduction of) revenue recognized due to changes in contract estimates $ (3,098) $ (6,496) $ (9,196) $ (6,137) Benefit to/(reduction of) diluted earnings per share recognized due to changes in contract estimates $ (0.04) $ (0.08) $ (0.11) $ (0.07)

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Mar. 31, 2024
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, 2024 March 31, 2023 March 31, 2024 March 31, 2023 (in thousands) Basic weighted average shares outstanding 61,371 61,120 61,330 61,119 Dilutive effect of unvested RSUs and PSUs 251 263 243 146 Denominator for diluted earnings per share 61,622 61,383 61,573 61,265

Debt And Derivatives (Tables)

Debt And Derivatives (Tables)	6 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Schedule of Debt	Table 6.1: Details of Debt March 31, 2024 September 30, 2023 (in thousands) Term Loan A, due 2026 $ 868,125 $ 909,375 Term Loan B, due 2028 343,170 344,934 Subsidiary loan agreements 4,892 3,220 Total debt principal 1,216,187 1,257,529 Less: Unamortized debt-issuance costs and discounts (6,333) (7,536) Total debt 1,209,854 1,249,993 Less: Current portion of long-term debt (88,517) (86,844) Long-term debt $ 1,121,337 $ 1,163,149
Schedule of Maturities of Long-term Debt	The following table sets forth future minimum principal payments due under our debt obligations as of March 31, 2024, for the remainder of fiscal year 2024 through fiscal year 2028: Table 6.2: Details of Future Minimum Principal Payments Due Amount Due (in thousands) April 1, 2024 through September 30, 2024 $ 47,906 Year ended September 30, 2025 92,903 Year ended September 30, 2026 741,028 Year ended September 30, 2027 3,528 Year ended September 30, 2028 330,822 Total Payments $ 1,216,187

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value of Assets and Liabilities	Table 8.1: Fair Value Measurements As of March 31, 2024 Level 1 Level 2 Level 3 Balance (in thousands) Assets: Deferred compensation assets - Rabbi Trust $ 31,969 $ — $ — $ 31,969 Interest rate swaps - $650 million notional value — 22,614 — 22,614 Total assets $ 31,969 $ 22,614 $ — $ 54,583 Liabilities: Contingent consideration — — 2,795 2,795 Total liabilities $ — $ — $ 2,795 $ 2,795 Table 8.2: Details of Changes in Accumulated Other Comprehensive Loss by Category Foreign currency translation adjustment Net unrealized gain on derivatives, net of tax Total (in thousands) Balance as of September 30, 2023 $ (50,484) $ 22,869 $ (27,615) Other comprehensive income before reclassifications 3,534 (54) 3,480 Amounts reclassified from accumulated other comprehensive loss 133 (6,147) (6,014) Net current period other comprehensive losses 3,667 (6,201) (2,534) Balance as of March 31, 2024 $ (46,817) $ 16,668 $ (30,149) Movement in our contingent consideration balance is as follows: Table 8.3: Fair Value Measurement Using Significant Unobservable Inputs (Level 3) Contingent Consideration (in thousands) Opening contingent consideration as of September 30, 2023 $ 9,903 Adjustments to fair value recorded in the period 971 Cash payments (8,168) Foreign currency translations 89 Closing contingent consideration as of March 31, 2024 $ 2,795

Other Balance Sheet Items (Tabl

Other Balance Sheet Items (Tables)	6 Months Ended
	Mar. 31, 2024
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents [Abstract]
Schedule of Cash and Cash Equivalents	Table 10.1: Details of Cash and Cash Equivalents and Restricted Cash March 31, 2024 September 30, 2023 (in thousands) Cash and cash equivalents $ 77,370 $ 65,405 Restricted cash 40,970 56,686 Cash, cash equivalents, and restricted cash $ 118,340 $ 122,091
Schedule of Restrictions on Cash and Cash Equivalents	Table 10.1: Details of Cash and Cash Equivalents and Restricted Cash March 31, 2024 September 30, 2023 (in thousands) Cash and cash equivalents $ 77,370 $ 65,405 Restricted cash 40,970 56,686 Cash, cash equivalents, and restricted cash $ 118,340 $ 122,091
Schedule of Supplementary Cash Flow Information	Table 10.2: Supplemental Disclosures of Cash Flow Information For the Six Months Ended March 31, 2024 March 31, 2023 (in thousands) Interest payments $ 39,946 $ 19,262 Income tax payments $ 43,794 $ 31,926
Schedule of Details of Accounts Receivable	Table 10.3: Details of Accounts Receivable, Net March 31, 2024 September 30, 2023 (in thousands) Billed and billable receivables $ 776,877 $ 692,707 Unbilled receivables 150,956 137,885 Allowance for credit losses (11,829) (3,719) Accounts receivable, net $ 916,004 $ 826,873

Significant Accounting Polici_3

Significant Accounting Policies (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
Property, Plant and Equipment [Line Items]
Capitalized software, net	$ 141,943	$ 107,811
Technology Equipment
Property, Plant and Equipment [Line Items]
Capitalized software, net	$ 28,500

Business Segments - Financial i

Business Segments - Financial information by segment (Details) $ in Thousands		3 Months Ended		6 Months Ended
	Feb. 14, 2024 segment	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Mar. 31, 2024 USD ($) segment	Mar. 31, 2023 USD ($)
Financial information for each of the Company's business segments
Number of operating segments | segment	3			3
Revenue:
Revenue		$ 1,348,357	$ 1,206,852	$ 2,675,398	$ 2,456,098
Gross profit:
Gross profit		$ 317,589	$ 228,603	$ 617,643	$ 473,350
Gross profit (as a percent)		23.60%	18.90%	23.10%	19.30%
Selling, general, and administrative expenses:
Selling, general, and administrative expenses		$ 168,454	$ 142,448	$ 337,649	$ 288,900
Selling, general, and administrative expenses (as a percent)		12.50%	11.80%	12.60%	11.80%
Divestiture-related charges				$ 1,018	$ 883
Operating income/(loss):
Operating income		$ 127,494	$ 62,505	$ 235,004	$ 137,282
Operating income (as a percent)		9.50%	5.20%	8.80%	5.60%
Amortization of Intangible Assets		$ (21,641)	$ (23,650)	$ (44,990)	$ (47,168)
Operating Segments | U.S. Federal Services
Revenue:
Revenue		701,702	584,075	1,378,780	1,202,242
Gross profit:
Gross profit		$ 163,337	$ 122,874	$ 319,999	$ 245,568
Gross profit (as a percent)		23.30%	21%	23.20%	20.40%
Selling, general, and administrative expenses:
Selling, general, and administrative expenses		$ 79,867	$ 75,050	$ 167,722	$ 146,699
Selling, general, and administrative expenses (as a percent)		11.40%	12.80%	12.20%	12.20%
Operating income/(loss):
Operating income		$ 83,470	$ 47,824	$ 152,277	$ 98,869
Operating income (as a percent)		11.90%	8.20%	11%	8.20%
Operating Segments | U.S. Services
Revenue:
Revenue		$ 486,115	$ 449,703	$ 975,960	$ 889,181
Gross profit:
Gross profit		$ 130,122	$ 86,016	$ 248,485	$ 169,614
Gross profit (as a percent)		26.80%	19.10%	25.50%	19.10%
Selling, general, and administrative expenses:
Selling, general, and administrative expenses		$ 62,201	$ 43,415	$ 114,501	$ 89,257
Selling, general, and administrative expenses (as a percent)		12.80%	9.70%	11.70%	10%
Operating income/(loss):
Operating income		$ 67,921	$ 42,601	$ 133,984	$ 80,357
Operating income (as a percent)		14%	9.50%	13.70%	9%
Operating Segments | Outside the U.S.
Revenue:
Revenue		$ 160,540	$ 173,074	$ 320,658	$ 364,675
Gross profit:
Gross profit		$ 24,130	$ 19,713	$ 49,159	$ 58,168
Gross profit (as a percent)		15%	11.40%	15.30%	16%
Selling, general, and administrative expenses:
Selling, general, and administrative expenses		$ 23,460	$ 23,425	$ 48,601	$ 51,814
Selling, general, and administrative expenses (as a percent)		14.60%	13.50%	15.20%	14.20%
Operating income/(loss):
Operating income		$ 670	$ (3,712)	$ 558	$ 6,354
Operating income (as a percent)		0.40%	(2.10%)	0.20%	1.70%
Segment Reconciling Items
Selling, general, and administrative expenses:
Selling, general, and administrative expenses		$ 2,926	$ (325)	$ 5,807	$ 247
Divestiture-related charges		0	883	1,018	883
Operating income/(loss):
Amortization of Intangible Assets		(21,641)	(23,650)	(44,990)	(47,168)
Other		$ (2,926)	$ 325	$ (5,807)	$ (247)

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Revenue	$ 1,348,357	$ 1,206,852	$ 2,675,398	$ 2,456,098
U.S. federal government agencies
Disaggregation of Revenue [Line Items]
Revenue	$ 685,939	$ 569,897	$ 1,348,885	$ 1,173,815
U.S. federal government agencies | Revenue Benchmark | Customer Concentration Risk
Disaggregation of Revenue [Line Items]
Revenue in %	50.90%	47.20%	50.40%	47.80%
U.S. state government agencies
Disaggregation of Revenue [Line Items]
Revenue	$ 483,147	$ 446,549	$ 970,090	$ 883,911
U.S. state government agencies | Revenue Benchmark | Customer Concentration Risk
Disaggregation of Revenue [Line Items]
Revenue in %	35.80%	37%	36.30%	36%
International government agencies
Disaggregation of Revenue [Line Items]
Revenue	$ 156,796	$ 161,359	$ 312,408	$ 343,119
International government agencies | Revenue Benchmark | Customer Concentration Risk
Disaggregation of Revenue [Line Items]
Revenue in %	11.60%	13.40%	11.70%	14%
Other, including local municipalities and commercial customers
Disaggregation of Revenue [Line Items]
Revenue	$ 22,475	$ 29,047	$ 44,015	$ 55,253
Other, including local municipalities and commercial customers | Revenue Benchmark | Customer Concentration Risk
Disaggregation of Revenue [Line Items]
Revenue in %	1.70%	2.40%	1.60%	2.20%
Performance-based
Disaggregation of Revenue [Line Items]
Revenue	$ 738,888	$ 574,747	$ 1,443,599	$ 1,143,964
Performance-based | Revenue Benchmark | Contract Concentration Risk
Disaggregation of Revenue [Line Items]
Revenue in %	54.80%	47.60%	54%	46.60%
Cost-plus
Disaggregation of Revenue [Line Items]
Revenue	$ 334,498	$ 312,176	$ 676,513	$ 659,495
Cost-plus | Revenue Benchmark | Contract Concentration Risk
Disaggregation of Revenue [Line Items]
Revenue in %	24.80%	25.90%	25.30%	26.90%
Fixed price
Disaggregation of Revenue [Line Items]
Revenue	$ 166,816	$ 180,674	$ 343,493	$ 355,747
Fixed price | Revenue Benchmark | Contract Concentration Risk
Disaggregation of Revenue [Line Items]
Revenue in %	12.40%	15%	12.80%	14.50%
Time and materials
Disaggregation of Revenue [Line Items]
Revenue	$ 108,155	$ 139,255	$ 211,793	$ 296,892
Time and materials | Revenue Benchmark | Contract Concentration Risk
Disaggregation of Revenue [Line Items]
Revenue in %	8%	11.50%	7.90%	12.10%

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Deferred revenue, revenue recognized	$ 7.6	$ 34.8	$ 45.3	$ 85.9
Unbilled receivables
Disaggregation of Revenue [Line Items]
Unbilled contracts receivable	$ 24.1		$ 24.1		$ 20.7

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, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Benefit to/(reduction of) revenue recognized due to changes in contract estimates	$ 1,348,357	$ 1,206,852	$ 2,675,398	$ 2,456,098
Benefit to/(reduction of) diluted earnings per share recognized due to changes in contract estimates (in dollars per share)	$ 1.31	$ 0.52	$ 2.35	$ 1.17
Change in contract estimates
Disaggregation of Revenue [Line Items]
Benefit to/(reduction of) revenue recognized due to changes in contract estimates	$ (3,098)	$ (6,496)	$ (9,196)	$ (6,137)
Benefit to/(reduction of) diluted earnings per share recognized due to changes in contract estimates (in dollars per share)	$ (0.04)	$ (0.08)	$ (0.11)	$ (0.07)

Revenue Recognition - Remaining

Revenue Recognition - Remaining Performance Obligation (Details) $ in Millions	Mar. 31, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 275
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage	75%
Revenue, remaining performance obligation, expected timing of satisfaction, period	12 months

Earnings Per Share (Details)

Earnings Per Share (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share [Abstract]
Basic weighted average shares outstanding (in shares)	61,371	61,120	61,330	61,119
Dilutive effect of unvested RSUs and PSUs (in shares)	251	263	243	146
Denominator for diluted earnings per share (in shares)	61,622	61,383	61,573	61,265
Antidilutive securities excluded from computation of earnings per share (in shares)	202	99	227	300

Debt And Derivatives - Schedule

Debt And Derivatives - Schedule of Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
Debt Instrument [Line Items]
Debt principal	$ 1,216,187
Total debt principal	1,216,187	$ 1,257,529
Less: Unamortized debt-issuance costs and discounts	(6,333)	(7,536)
Total debt	1,209,854	1,249,993
Less: Current portion of long-term debt	(88,517)	(86,844)
Long-term debt	1,121,337	1,163,149
Secured Debt | Term Loan A, due 2026
Debt Instrument [Line Items]
Debt principal	868,125	909,375
Secured Debt | Term Loan B, due 2028
Debt Instrument [Line Items]
Debt principal	343,170	344,934
Subsidiary loan agreements
Debt Instrument [Line Items]
Debt principal	$ 4,892	$ 3,220

Debt And Derivatives - Narrativ

Debt And Derivatives - Narrative (Details) - USD ($)	Mar. 31, 2024	Sep. 30, 2023
Debt Instrument [Line Items]
Annual effective interest rate	5.90%
Other Assets
Debt Instrument [Line Items]
Fair value of derivative asset	$ 22,600,000	$ 31,000,000
Term Loan A, due 2026 | Interest Rate Swap | Secured Debt
Debt Instrument [Line Items]
Debt instrument, face amount	650,000,000
Term Loan A, due 2026 | Interest Rate Swap 2 | Secured Debt
Debt Instrument [Line Items]
Derivative, notional amount	$ 150,000,000

Debt And Derivatives - Schedu_2

Debt And Derivatives - Schedule of Repayments (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Debt Disclosure [Abstract]
April 1, 2024 through September 30, 2024	$ 47,906
Year ended September 30, 2025	92,903
Year ended September 30, 2026	741,028
Year ended September 30, 2027	3,528
Year ended September 30, 2028	330,822
Total Payments	$ 1,216,187

Acquisitions And Divestitures (

Acquisitions And Divestitures (Details) $ in Thousands		1 Months Ended		3 Months Ended	6 Months Ended		13 Months Ended
	Feb. 14, 2024 USD ($) segment	Nov. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)	Mar. 31, 2024 USD ($) segment	Mar. 31, 2023 USD ($)	Mar. 31, 2024 USD ($)
Business Acquisition [Line Items]
Number of operating segments | segment	3				3
Proceeds from divestitures					$ 3,078	$ 9,124
Disposal Group, Disposed of by Sale, Not Discontinued Operations
Business Acquisition [Line Items]
Loss on sale of business		$ 1,000
Impairment charge				$ 2,900
United Kingdom | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Business Acquisition [Line Items]
Loss on sale of business			$ 600
Total fair value of consideration			16,000			16,000
Proceeds from divestitures							$ 12,200
Sweden | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Business Acquisition [Line Items]
Total fair value of consideration			$ 400			$ 400
Opteamix LLC
Business Acquisition [Line Items]
Cash consideration	$ 18,000
Intangible assets, estimated useful life	8 years

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) $ in Thousands, £ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2024 USD ($)	Mar. 31, 2024 GBP (£)	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2023 GBP (£)	Oct. 31, 2021 USD ($)
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Payments of contingent consideration			$ 8,168	$ 4,041
Aidvantage
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Contingent consideration	$ 2,800		$ 2,800		$ 7,500
BZ Bodies Limited
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Contingent consideration					$ 2,500	£ 2
Payments of contingent consideration	$ 2,500	£ 2
Maximum | Navient
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Contingent consideration							$ 65,000

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Interest Rate Swap
Financial information for each of the Company's business segments
Notional value, asset	$ 650,000
Fair Value, Recurring
Financial information for each of the Company's business segments
Total assets	54,583
Contingent consideration	2,795
Total liabilities	2,795
Fair Value, Recurring | Interest Rate Swap
Financial information for each of the Company's business segments
Total assets	22,614
Fair Value, Recurring | Deferred compensation assets - Rabbi Trust
Financial information for each of the Company's business segments
Total assets	31,969
Level 1 | Fair Value, Recurring
Financial information for each of the Company's business segments
Total assets	31,969
Contingent consideration	0
Total liabilities	0
Level 1 | Fair Value, Recurring | Interest Rate Swap
Financial information for each of the Company's business segments
Total assets	0
Level 1 | Fair Value, Recurring | Deferred compensation assets - Rabbi Trust
Financial information for each of the Company's business segments
Total assets	31,969
Level 2 | Fair Value, Recurring
Financial information for each of the Company's business segments
Total assets	22,614
Contingent consideration	0
Total liabilities	0
Level 2 | Fair Value, Recurring | Interest Rate Swap
Financial information for each of the Company's business segments
Total assets	22,614
Level 2 | Fair Value, Recurring | Deferred compensation assets - Rabbi Trust
Financial information for each of the Company's business segments
Total assets	0
Level 3 | Fair Value, Recurring
Financial information for each of the Company's business segments
Total assets	0
Contingent consideration	2,795
Total liabilities	2,795
Level 3 | Fair Value, Recurring | Interest Rate Swap
Financial information for each of the Company's business segments
Total assets	0
Level 3 | Fair Value, Recurring | Deferred compensation assets - Rabbi Trust
Financial information for each of the Company's business segments
Total assets	$ 0

Fair Value Measurements - Accum

Fair Value Measurements - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Beginning balance	$ 1,717,806	$ 1,581,007	$ 1,667,835	$ 1,549,371
Other comprehensive income before reclassifications			3,480
Amounts reclassified from accumulated other comprehensive loss			(6,014)
Net current period other comprehensive losses	439	(3,597)	(2,534)	658
Ending balance	1,789,143	1,601,722	1,789,143	1,601,722
Foreign currency translation adjustment
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Beginning balance			(50,484)
Other comprehensive income before reclassifications			3,534
Amounts reclassified from accumulated other comprehensive loss			133
Net current period other comprehensive losses			3,667
Ending balance	(46,817)		(46,817)
Net unrealized gain on derivatives, net of tax
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Beginning balance			22,869
Other comprehensive income before reclassifications			(54)
Amounts reclassified from accumulated other comprehensive loss			(6,147)
Net current period other comprehensive losses			(6,201)
Ending balance	16,668		16,668
Accumulated Other Comprehensive Loss
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Beginning balance	(30,588)	(29,706)	(27,615)	(33,961)
Net current period other comprehensive losses			(2,534)
Ending balance	$ (30,149)	$ (33,303)	$ (30,149)	$ (33,303)

Fair Value Measurements - Unobs

Fair Value Measurements - Unobservable Inputs (Details) $ in Thousands	6 Months Ended
	Mar. 31, 2024 USD ($)
Contingent Consideration
Beginning balance	$ 9,903
Adjustments to fair value recorded in the period	$ 971
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Nonoperating Income (Expense)
Cash payments	$ (8,168)
Foreign currency translations	$ 89
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Liability, Gain (Loss), Statement of Other Comprehensive Income or Comprehensive Income [Extensible Enumeration]	Foreign currency translation adjustments
Ending balance	$ 2,795

Equity (Details)

Equity (Details) - USD ($) shares in Thousands, $ in Millions	1 Months Ended	6 Months Ended
	May 09, 2024	Mar. 31, 2024	Mar. 31, 2020
Stock-based compensation
Stock repurchase programs, authorized amount			$ 200
Common shares repurchased, value		$ 0
Subsequent Event
Stock-based compensation
Common shares repurchased, value	$ 19.3
Common shares repurchased (in shares)	242
Restricted Stock Units (RSUs)
Stock-based compensation
Shares issued (in shares)		335
Restricted Stock Units (RSUs) | Member of Board of Directors | A2021 Stock Incentive Plan
Stock-based compensation
Vesting period		1 year
Restricted Stock Units (RSUs) | Minimum
Stock-based compensation
Vesting period		1 year
Restricted Stock Units (RSUs) | Minimum | A2021 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 | A2021 Stock Incentive Plan
Stock-based compensation
Vesting period		5 years
Performance Shares
Stock-based compensation
Vesting period		3 years
Shares issued (in shares)		128
Performance Shares | Minimum | A2021 Stock Incentive Plan
Stock-based compensation
Vesting rights, percentage		0%
Performance Shares | Maximum | A2021 Stock Incentive Plan
Stock-based compensation
Vesting rights, percentage		200%

Other Balance Sheet Items - Sch

Other Balance Sheet Items - Schedule of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023	Mar. 31, 2023	Sep. 30, 2022
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	$ 77,370	$ 65,405
Restricted cash	40,970	56,686
Cash, cash equivalents, and restricted cash	$ 118,340	$ 122,091	$ 118,720	$ 136,795

Other Balance Sheet Items - Sup

Other Balance Sheet Items - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents [Abstract]
Interest payments	$ 39,946	$ 19,262
Income tax payments	$ 43,794	$ 31,926

Other Balance Sheet Items - Det

Other Balance Sheet Items - Details of Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Sep. 30, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses	$ (11,829)	$ (3,719)
Accounts receivable, net	916,004	826,873
Billed and billable receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Billed and billable receivables	776,877	692,707
Unbilled receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Billed and billable receivables	$ 150,956	$ 137,885

Other Balance Sheet Items - Nar

Other Balance Sheet Items - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2024	Sep. 21, 2022
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents [Abstract]
Receivables purchase agreement, maximum sales amount		$ 200
Transfer of financial assets, accounted for as sales	$ 133
Cash received from transfer of financial assets	$ 132.2

Commitments And Contingencies (

Commitments And Contingencies (Details) $ in Millions	Sep. 06, 2023 action	Mar. 31, 2024 USD ($) case
Loss Contingencies [Line Items]
Loss contingency accrual | $		$ 3.5
MOVEit, Federal Court
Loss Contingencies [Line Items]
Number of cases filed | case		10
MOVEit, State Court
Loss Contingencies [Line Items]
Number of cases filed	8
Number of cases dismissed	1

Subsequent Event (Details)

Subsequent Event (Details) - USD ($) $ / shares in Units, $ in Millions	May 31, 2024	Apr. 05, 2024
Subsequent Event
Subsequent Event [Line Items]
Cash dividend declared (in dollars per share)		$ 0.30
Common Stock | Forecast
Subsequent Event [Line Items]
Payments of dividends	$ 18.3