ICF International (ICFI) 10-Q/A 5 May 17 2017 Q1 Quarterly report (amended) Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2017	Apr. 28, 2017
Document Information [Line Items]
Entity Registrant Name	ICF International, Inc.
Entity Central Index Key	1,362,004
Trading Symbol	icfi
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		18,799,705
Document Type	10-Q/A
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Amendment Flag	true
Amendment Description	The sole purpose of this Amendment No. 1 on Form 10-Q/A to ICF International, Inc.'s Quarterly Report on Form 10-Q for the quarter ended March 31, 2017, filed with the Securities and Exchange Commission on May 4, 2017 (the "Form 10-Q"), is to change the date reference from May 5, 2017 to May 4, 2017 on the Signatures page and on the certifications filed as Exhibits 31.1, 31.2, 32.1 and 32.2. No other changes have been made to the Form 10-Q. This Form 10-Q/A does not reflect events that may have occurred subsequent to the original filing date, and does not modify or update in any way disclosures made in the original Form 10-Q.

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Current Assets
Cash and cash equivalents	$ 8,207	$ 6,042
Contract receivables, net	278,795	281,365
Prepaid expenses and other	13,294	11,724
Income tax receivable	1,362
Total current assets	301,658	299,131
Total property and equipment, net	38,719	40,484
Other assets:
Goodwill	683,998	683,683
Other intangible assets, net	43,408	46,129
Restricted cash	1,247	1,843
Other assets	14,883	14,301
Total Assets	1,083,913	1,085,571
Current Liabilities
Accounts payable	54,129	70,586
Accrued salaries and benefits	50,087	44,003
Accrued expenses and other current liabilities	45,925	52,631
Deferred revenue	27,280	29,394
Income tax payable		106
Total Current Liabilities	177,421	196,720
Long-term Liabilities:
Long-term debt	275,843	259,389
Deferred rent	15,035	15,600
Deferred income taxes	43,843	39,114
Other	9,518	8,744
Total Liabilities	521,660	519,567
Commitments and Contingencies (Note 8)
Stockholders’ Equity
Preferred stock, par value $.001 per share; 5,000,000 shares authorized; none issued	0	0
Common stock, $.001 par value; 70,000,000 shares authorized; 21,906,617 and 21,663,432 shares issued; and 18,837,025 and 19,021,262 shares outstanding as of March 31, 2017, and December 31, 2016, respectively	22	22
Additional paid-in capital	297,077	292,427
Retained earnings	382,067	371,890
Treasury stock	(107,645)	(88,695)
Accumulated other comprehensive loss	(9,268)	(9,640)
Total Stockholders’ Equity	562,253	566,004
Total Liabilities and Stockholders’ Equity	$ 1,083,913	$ 1,085,571

Consolidated Balance Sheets (C3

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Mar. 31, 2017	Dec. 31, 2016
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized (in shares)	70,000,000	70,000,000
Common stock, issued (in shares)	21,906,617	21,663,432
Common stock, outstanding (in shares)	18,837,025	19,021,262

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenue	$ 296,295	$ 283,599
Direct Costs	183,607	177,199
Operating costs and expenses:
Indirect and selling expenses	88,802	81,559
Depreciation and amortization	4,519	4,019
Amortization of intangible assets	2,734	3,128
Total operating costs and expenses	96,055	88,706
Operating income	16,633	17,694
Interest expense	(1,951)	(2,445)
Other income	109	275
Income before income taxes	14,791	15,524
Provision for income taxes	4,614	5,633
Net income	$ 10,177	$ 9,891
Earnings per Share:
Basic (in dollars per share)	$ 0.54	$ 0.52
Diluted (in dollars per share)	$ 0.52	$ 0.51
Weighted-average Shares:
Basic (in shares)	18,972	18,994
Diluted (in shares)	19,423	19,273
Other comprehensive income (loss):
Foreign currency translation adjustments, net of tax	$ 372	$ (917)
Comprehensive income, net of tax	$ 10,549	$ 8,974

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash Flows from Operating Activities
Net income	$ 10,177	$ 9,891
Adjustments to reconcile net income to net cash provided by operating activities:
Non-cash equity compensation	2,618	2,641
Depreciation and amortization	7,253	7,147
Other adjustments, net	5,944	1,152
Changes in operating assets and liabilities, net of the effect of acquisitions:
Contract receivables, net	3,094	(19,460)
Prepaid expenses and other assets	(2,170)	(5,812)
Accounts payable	(16,583)	(12,441)
Accrued salaries and benefits	6,058	5,154
Accrued expenses and other current liabilities	(7,304)	(3,848)
Deferred revenue	(2,206)	(812)
Income tax receivable and payable	(1,475)	3,645
Restricted cash	603	(12)
Other liabilities	696	(622)
Net Cash Provided by (Used in) Operating Activities	6,705	(13,377)
Cash Flows from Investing Activities
Capital expenditures for property and equipment and capitalized software	(2,571)	(4,184)
Payments for business acquisitions, net of cash received	(91)
Net Cash Used in Investing Activities	(2,662)	(4,184)
Cash Flows from Financing Activities
Advances from working capital facilities	127,179	123,279
Payments on working capital facilities	(110,725)	(96,881)
Payments on capital expenditure obligations	(1,454)	(1,010)
Proceeds from exercise of options	2,095
Net payments for stockholder issuances and buybacks	(19,014)	(6,664)
Net Cash (Used in) Provided by Financing Activities	(1,919)	18,724
Effect of exchange rate changes on cash	41	449
Increase in Cash and Cash Equivalents	2,165	1,612
Cash and Cash Equivalents, Beginning of Period	6,042	7,747
Cash and Cash Equivalents, End of Period	8,207	9,359
Supplemental Disclosure of Cash Flow Information
Interest	1,988	1,485
Income taxes	$ 1,296	$ 587

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	NOTE 1 - BASIS OF PRESENTATION Nature of Operations ICF International, Inc. and its subsidiaries (collectively, the “ Company”) provide professional services and technology-based solutions, including management, technology, and policy consulting and implementation services, to government and commercial clients that operate in four The Company ’s major clients are United States (“U.S.”) federal government departments and agencies, most significantly the Department of Health and Human Services (“HHS”), the Department of State (“DOS”), and the Department of Defense (“DoD”). The Company also serves state and local government departments and agencies; international governments; and commercial clients worldwide, such as airlines, airports, electric and gas utilities, oil companies, banks and other financial services companies, transportation, travel and hospitality firms, non-profits/associations, law firms, manufacturing firms, retail chains, and distribution companies. The term “federal” or “federal government” refers to the U.S. federal government, and “state and local” or “state and local government” refers to U.S. state and local governments, unless otherwise indicated. The Company, incorporated in Delaware, is headquartered in Fairfax, Virginia. It maintains offices throughout the world, including over 55 10 Interim Results The unaudited consolidated financial statements included in this Quarterly Report on Form 10 , prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”), to be condensed or omitted. In management’s opinion, the unaudited consolidated financial statements contain all adjustments that are of a normal recurring nature, necessary for a fair presentation of the results of operations and financial position of the Company for the interim periods presented. The Company reports operating results and financial data in one three March 31, 2017 may December 31, 2017. December 31, 2016, 10 February 28, 2017 Significant Accounting Policies Goodwill Impairment Test Date The Company has historically performed its annual goodwill impairment test as of September 30 September 30, 2016, whether it was more likely than not that the Company's reporting unit's fair value was less than its carrying amount. After completing the assessment, the Company determined that it was more likely than not that the estimated fair value of the reporting unit exceeded the carrying amount and that no impairment existed as of the assessment date. If the Company had concluded otherwise, a quantitative goodwill impairment test would have been required, which would include a determination and comparison of the fair value of the reporting unit to its carrying value . Effective for the annual goodwill impairment test for 2017 , the Company will perform the required annual test as of October 1 September 30 fourth October 1, 2017; 2, Summary of Significant Accounting Policies . Reclassifications During the second 2016, 2016 09, Improvements to Employee Share-Based Payment Accounting (Topic 718). 2016 09 $0.2 three March 31, 2016. $0.2 three March 31, 2016. The impact of the adoption on the Company ’s previously reported results for the first 2016 Three Months Ended March 31, 2016 As reported As adjusted Consolidated Statement of Comprehensive Income (unaudited) Provision for income taxes $ 5,837 $ 5,633 Net income $ 9,687 $ 9,891 Comprehensive income, net of tax $ 8,770 $ 8,974 Basic earnings per share $ 0.51 $ 0.52 Diluted earnings per share $ 0.50 $ 0.51 Diluted weighted average shares outstanding 19,293 19,273 Consolidated Statement of Cash Flows (unaudited) Net cash used in operating activities $ (13,581 ) $ (13,377 ) Net cash provided by financing activities $ 18,928 $ 18,724 Recent Accountin g Pronouncements Revenue Recognition In May 2014, Financial Accounting Standards Board (“FASB”) issued ASU 2014 09, 606). 2014 09 August 2015, 2015 14 2014 09 January 1, 2018. 2016 2017 January 1, 2018, January 1, 2018. January 1, 2018, The Company continues to evaluate the impact of adopting ASU 2014 09 The Company has completed a preliminary assessment as of December 2016 June 2017. may may Leases In February 2016, 2016 02, 842). 12 first December 15, 2018, The Company continues to evaluate the impact of adopting ASU 2016 02, Statement of Cash Flows In August 2016, 2016 15 , Statement of Cash Flows (Topic 230): eight 2018, 2016 15. In November 2016, 2016 18, Statement of Cash Flows (Topic 230): 2016 18 December 15, 2017, 2016 18 Goodwill In January 2017, 2017 04, 350), 2 2017 04 two 2 2017 04 December 15, 2019, 2017 04

Note 2 - Contract Receivables

Note 2 - Contract Receivables	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	NOTE 2 – CONTRACT RECEIVABLE S Contract receivables consisted of the following: March 31, 2017 December 31, 2016 Billed $ 167,561 $ 170,436 Unbilled 114,385 113,520 Allowance for doubtful accounts (3,151 ) (2,591 ) Contract receivables, net $ 278,795 $ 281,365 Contract receivables, net of the established allowance for doubtful accounts, are stated at amounts expected to be realized in future periods. Unbilled receivables result from revenue earned in advance of billing and which can be invoiced at contractually defined intervals or milestones, as well as upon completion of the contract or government audits. The Company anticipates that the majority of unbilled receivables will be substantially billed and collected within one The Company considers a number of factors in its estimate of allowance for doubtful accounts, including the customer ’s financial condition, historical collection experience, and other factors that may

Note 3 - Property and Equipment

Note 3 - Property and Equipment	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	NOTE 3 - PROPERTY AND EQUIPMENT Property and equip ment consisted of the following: March 31, 2017 December 31, 2016 Leasehold improvements $ 17,997 $ 17,847 Software 41,784 41,269 Furniture and equipment 27,385 26,570 Computers 29,805 28,874 116,971 114,560 Accumulated depreciation and amortization (78,252 ) (74,076 ) Total property and equipment, net $ 38,719 $ 40,484

Note 4 - Long-term Debt

Note 4 - Long-term Debt	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Long-term Debt [Text Block]	NOTE 4 - LONG-TERM DEBT The Company entered into a Fourth Amended and Restated Business Loan and Security Agreement with a syndication of 11 May 16, 2014 (the “Credit Facility”). The Company further modified the Credit Facility on November 5, 2014. May 16, 2019 $500.0 $100.0 The Company has the option to borrow funds under the Credit Facility at interest rates based on both LIBOR (1, 3, 6 at its discretion, plus their applicable margins. The interest is payable monthly. The Credit Facility provides for stand-by letters of credit aggregating up to $30.0 1.25 1.00 3.75 1.00 March 31, 2017, As of March 31, 2017, $275.8 $3.6 $220.6 $173.8 March 31, 2017. 2.6% first three 2017.

Note 5 - Income Taxes

Note 5 - Income Taxes	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE 5 - INCOME TAXES The Company ’s effective tax rate for each of the three March 31, 2017 2016 31.2% 36.3%, The Company is subject to federal income taxes in the U.S. as well as to taxes in various state and foreign jurisdictions. Tax statutes and regulations within each jurisdiction are subject to interpretation and require the application of significant judgment. The Company’s 2013 2016 2013 2016. The Company ’s total liability for unrecognized tax benefits as of March 31, 2017 $1.2 March 31, 2016 $1.0 12 may $0.4 The Company ’s policy is not to recognize accrued interest and penalties related to unrecognized tax benefits as a component of tax expense. The Company has made no provision for deferred U.S. income taxes or additional foreign taxes on future unremitted earnings of its controlled foreign subsidiaries because the Company considers these earnings to be permanently invested.

Note 6 - Accounting for Stock-b

Note 6 - Accounting for Stock-based Compensation	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	NOTE 6 - ACCOUNTING FOR STOCK COMPENSATION The ICF International, Inc. 2010 March 31, 2017, 1.8 During the three March 31, 2017, 0.2 0.2 $41.30 0.1 $38.81 2017 January 1, 2017 December 31, 2019 13, Accounting for Stock-Based Compensation The Company recognized stock-based compensation expense of $3.5 $3.2 three March 31, 2017 2016, $19.1 March 31, 2017 2.6 $18.4 March 31, 2017 2.6 $4.5 March 31, 2017 1.8

Note 7 - Earnings Per Share

Note 7 - Earnings Per Share	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Earnings Per Share [Text Block]	NOTE 7 - EARNINGS PER SHARE EPS is computed by dividing reported net income by the weighted-average number of shares outstanding. Diluted EPS considers the potential dilution that could occur if common stock equivalents were exercised or converted into stock. The difference between the basic and diluted weighted-average equivalent shares with respect to the Company’s EPS calculation is due entirely to the assumed exercise of stock options and the vesting and settlement of RSUs. PSAs are included in the computation of diluted shares only to the extent that the underlying performance conditions (i) are satisfied as of the end of the reporting period or (ii) would be considered satisfied if the end of the reporting period were the end of the related performance period and the result would be dilutive under the treasury stock method. As of March 31, 2017, December 31, 2015 December 31, 2016 three March 31, 2017 0.2 three March 31, 2017 2016, The dilutive effect of stock options , RSUs, and PSAs for each period reported is summarized below: Three Months Ended March 31 , 2017 201 6 Net Income $ 10,177 $ 9,891 Weighted-average number of basic shares outstanding during the period 18,972 18,994 Dilutive effect of stock options, RSUs, and PSAs 451 279 Weighted-average number of diluted shares outstanding during the period 19,423 19,273 Basic earnings per share $ 0.54 $ 0.52 Diluted earnings per share $ 0.52 $ 0.51

Note 8 - Commitments and Contin

Note 8 - Commitments and Contingencies	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	N OTE 8 - COMMITMENT S AND CONTINGENCIES Litigation and Claims The Company is involved in various legal matters and proceedings arising in the ordinary course of business. While these matters and proceedings cause it to incur costs, including, but not limited to, attorneys ’ fees, the Company currently believes that any ultimate liability arising out of these matters and proceedings will not have a material adverse effect on its financial position, results of operations, or cash flows. Road Home Contract On June 10, 2016, ’s administration of the Road Home Program (“Program”). The Program contract was a three $912 2006. 2009. The Program was primarily intended to help homeowners and landlords of small rental properties affected by Hurricanes Rita and Katrina. In its administrative demand, the OCD sought approximately $200.8 the Program’s grant recipients. The State of Louisiana separately supplemented the amount of recovery it is seeking in total by approximately $217.9 June 10, 2016. September 21, 2016,

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]	Goodwill Impairment Test Date The Company has historically performed its annual goodwill impairment test as of September 30 September 30, 2016, whether it was more likely than not that the Company's reporting unit's fair value was less than its carrying amount. After completing the assessment, the Company determined that it was more likely than not that the estimated fair value of the reporting unit exceeded the carrying amount and that no impairment existed as of the assessment date. If the Company had concluded otherwise, a quantitative goodwill impairment test would have been required, which would include a determination and comparison of the fair value of the reporting unit to its carrying value . Effective for the annual goodwill impairment test for 2017 , the Company will perform the required annual test as of October 1 September 30 fourth October 1, 2017; 2, Summary of Significant Accounting Policies .
Reclassification, Policy [Policy Text Block]	Reclassifications During the second 2016, 2016 09, Improvements to Employee Share-Based Payment Accounting (Topic 718). 2016 09 $0.2 three March 31, 2016. $0.2 three March 31, 2016. The impact of the adoption on the Company ’s previously reported results for the first 2016 Three Months Ended March 31, 2016 As reported As adjusted Consolidated Statement of Comprehensive Income (unaudited) Provision for income taxes $ 5,837 $ 5,633 Net income $ 9,687 $ 9,891 Comprehensive income, net of tax $ 8,770 $ 8,974 Basic earnings per share $ 0.51 $ 0.52 Diluted earnings per share $ 0.50 $ 0.51 Diluted weighted average shares outstanding 19,293 19,273 Consolidated Statement of Cash Flows (unaudited) Net cash used in operating activities $ (13,581 ) $ (13,377 ) Net cash provided by financing activities $ 18,928 $ 18,724
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accountin g Pronouncements Revenue Recognition In May 2014, Financial Accounting Standards Board (“FASB”) issued ASU 2014 09, 606). 2014 09 August 2015, 2015 14 2014 09 January 1, 2018. 2016 2017 January 1, 2018, January 1, 2018. January 1, 2018, The Company continues to evaluate the impact of adopting ASU 2014 09 The Company has completed a preliminary assessment as of December 2016 June 2017. may may Leases In February 2016, 2016 02, 842). 12 first December 15, 2018, The Company continues to evaluate the impact of adopting ASU 2016 02, Statement of Cash Flows In August 2016, 2016 15 , Statement of Cash Flows (Topic 230): eight 2018, 2016 15. In November 2016, 2016 18, Statement of Cash Flows (Topic 230): 2016 18 December 15, 2017, 2016 18 Goodwill In January 2017, 2017 04, 350), 2 2017 04 two 2 2017 04 December 15, 2019, 2017 04

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Impact of New Accounting Pronouncement [Table Text Block]	Three Months Ended March 31, 2016 As reported As adjusted Consolidated Statement of Comprehensive Income (unaudited) Provision for income taxes $ 5,837 $ 5,633 Net income $ 9,687 $ 9,891 Comprehensive income, net of tax $ 8,770 $ 8,974 Basic earnings per share $ 0.51 $ 0.52 Diluted earnings per share $ 0.50 $ 0.51 Diluted weighted average shares outstanding 19,293 19,273 Consolidated Statement of Cash Flows (unaudited) Net cash used in operating activities $ (13,581 ) $ (13,377 ) Net cash provided by financing activities $ 18,928 $ 18,724

Note 2 - Contract Receivables (

Note 2 - Contract Receivables (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	March 31, 2017 December 31, 2016 Billed $ 167,561 $ 170,436 Unbilled 114,385 113,520 Allowance for doubtful accounts (3,151 ) (2,591 ) Contract receivables, net $ 278,795 $ 281,365

Note 3 - Property and Equipme17

Note 3 - Property and Equipment (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Property, Plant and Equipment [Table Text Block]	March 31, 2017 December 31, 2016 Leasehold improvements $ 17,997 $ 17,847 Software 41,784 41,269 Furniture and equipment 27,385 26,570 Computers 29,805 28,874 116,971 114,560 Accumulated depreciation and amortization (78,252 ) (74,076 ) Total property and equipment, net $ 38,719 $ 40,484

Note 7 - Earnings Per Share (Ta

Note 7 - Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2017
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended March 31 , 2017 201 6 Net Income $ 10,177 $ 9,891 Weighted-average number of basic shares outstanding during the period 18,972 18,994 Dilutive effect of stock options, RSUs, and PSAs 451 279 Weighted-average number of diluted shares outstanding during the period 19,423 19,273 Basic earnings per share $ 0.54 $ 0.52 Diluted earnings per share $ 0.52 $ 0.51

Note 1 - Basis of Presentatio19

Note 1 - Basis of Presentation (Details Textual) $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)
Number of Operating Segments	1
Income Tax Expense (Benefit)	$ 4,614	$ 5,633
Net Cash Provided by (Used in) Operating Activities, Continuing Operations	$ 6,705	$ (13,377)
Number of Reportable Segments	1
Accounting Standards Update 2016-09 [Member] | New Accounting Pronouncement, Early Adoption, Effect [Member]
Income Tax Expense (Benefit)	$ 200
Net Cash Provided by (Used in) Operating Activities, Continuing Operations	$ 200
Domestic [Member]
Number of Offices	55
International [Member]
Number of Offices	10

Note 1 - Basis of Presentatio20

Note 1 - Basis of Presentation - Impact of Adoption on Previously Reported Results (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Provision for income taxes	$ 4,614	$ 5,633
Net income	10,177	9,891
Comprehensive income, net of tax	$ 10,549	$ 8,974
Basic earnings per share (in dollars per share)	$ 0.54	$ 0.52
Diluted earnings per share (in dollars per share)	$ 0.52	$ 0.51
Diluted weighted average shares outstanding (in shares)	19,423	19,273
Net cash used in operating activities	$ 6,705	$ (13,377)
Net cash provided by financing activities	$ (1,919)	18,724
Scenario, Previously Reported [Member]
Provision for income taxes		5,837
Net income		9,687
Comprehensive income, net of tax		$ 8,770
Basic earnings per share (in dollars per share)		$ 0.51
Diluted earnings per share (in dollars per share)		$ 0.50
Diluted weighted average shares outstanding (in shares)		19,293
Net cash used in operating activities		$ (13,581)
Net cash provided by financing activities		$ 18,928

Note 2 - Contract Receivables21

Note 2 - Contract Receivables (Details Textual)	3 Months Ended
	Mar. 31, 2017
Majority of Unbilled Receivables Will Be Substantially Billed and Collected	1 year

Note 2 - Contract Receivables -

Note 2 - Contract Receivables - Summary of Contract Receivables (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Billed	$ 167,561	$ 170,436
Unbilled	114,385	113,520
Allowance for doubtful accounts	(3,151)	(2,591)
Contract receivables, net	$ 278,795	$ 281,365

Note 3 - Property and Equipme23

Note 3 - Property and Equipment - Property and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Property and equipment, gross	$ 116,971	$ 114,560
Accumulated depreciation and amortization	(78,252)	(74,076)
Total property and equipment, net	38,719	40,484
Leasehold Improvements [Member]
Property and equipment, gross	17,997	17,847
Software and Software Development Costs [Member]
Property and equipment, gross	41,784	41,269
Furniture and Fixtures [Member]
Property and equipment, gross	27,385	26,570
Computer Equipment [Member]
Property and equipment, gross	$ 29,805	$ 28,874

Note 4 - Long-term Debt (Detail

Note 4 - Long-term Debt (Details Textual) $ in Thousands	Mar. 31, 2017USD ($)	Dec. 31, 2016USD ($)	May 16, 2014USD ($)
Credit Facility Syndication, Number of Commercial Banks			11
Line of Credit Facility, Maximum Borrowing Capacity Without Borrowing Base Requirement			$ 500,000
Line of Credit Facility, Accordion Feature, Additional Revolving Credit Commitments Under Existing Loan Facility			$ 100,000
Long-term Debt, Excluding Current Maturities	$ 275,843	$ 259,389
Letters of Credit Outstanding, Amount	3,600
Line of Credit Facility, Remaining Borrowing Capacity	220,600
Line of Credit Facility, Current Borrowing Capacity	$ 173,800
Minimum [Member]
Line of Credit Facility, Fixed Charge Coverage Ratio Covenant			1.25
Maximum [Member]
Line of Credit Facility, Leverage Ratio Covenant			3.75
Weighted Average [Member]
Long-term Debt, Weighted Average Interest Rate, at Point in Time	2.60%
Line of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity			$ 30,000

Note 5 - Income Taxes (Details

Note 5 - Income Taxes (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Effective Income Tax Rate Reconciliation, Percent	31.20%	36.30%
Unrecognized Tax Benefits	$ 1.2
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	1
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit	$ 0.4
Internal Revenue Service (IRS) [Member] | Earliest Tax Year [Member]
Open Tax Year	2,013
Internal Revenue Service (IRS) [Member] | Latest Tax Year [Member]
Open Tax Year	2,016
State and Foreign Jurisdictions [Member] | Earliest Tax Year [Member]
Open Tax Year	2,013
State and Foreign Jurisdictions [Member] | Latest Tax Year [Member]
Open Tax Year	2,016

Note 6 - Accounting for Stock26

Note 6 - Accounting for Stock-based Compensation (Details Textual) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended	39 Months Ended
	Mar. 31, 2017	Mar. 31, 2019
Allocated Share-based Compensation Expense	$ 3.5	$ 3.2
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	0.2
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 41.30
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 19.1
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	2 years 219 days
Cash Settled RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	0.2
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 41.30
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 18.4
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	2 years 219 days
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	0.1
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 38.81
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 4.5
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	1 year 292 days
Omnibus Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	1.8

Note 7 - Earnings Per Share (De

Note 7 - Earnings Per Share (Details Textual) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	200

Note 7 - Earnings Per Share - D

Note 7 - Earnings Per Share - Dilutive Effect of Stock Options and Awards (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net income	$ 10,177	$ 9,891
Basic (in shares)	18,972	18,994
Dilutive effect of stock options, RSUs, and PSAs (in shares)	451	279
Weighted-average number of diluted shares outstanding during the period (in shares)	19,423	19,273
Basic (in dollars per share)	$ 0.54	$ 0.52
Diluted (in dollars per share)	$ 0.52	$ 0.51

Note 8 - Commitments and Cont29

Note 8 - Commitments and Contingencies (Details Textual) - USD ($) $ in Millions	Jun. 10, 2016	Mar. 31, 2017
Community Development Related to Claim		$ 217.9
OCD vs ICF Emergency [Member]
Loss Contingency, Damages Sought, Value	$ 200.8
Road Home Contract [Member]
Contract Term, Period	3 years
Contract Award, Value	$ 912