Document and Entity Information
Document and Entity Information Document - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Feb. 20, 2017 | Jun. 30, 2016 | |
Entity Information [Line Items] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2016 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | MANT | ||
Entity Registrant Name | MANTECH INTERNATIONAL CORP | ||
Entity Central Index Key | 892,537 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Public Float | $ 942,595,575 | ||
Class A Common Stock [Member] | |||
Entity Information [Line Items] | |||
Common Stock, Shares Outstanding | 25,556,360 | ||
Class B Common Stock [Member] | |||
Entity Information [Line Items] | |||
Common Stock, Shares Outstanding | 13,190,745 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
ASSETS | ||
Cash and cash equivalents | $ 64,936,000 | $ 41,314,000 |
Receivables—net | 320,677,000 | 304,253,000 |
Prepaid expenses and other | 34,423,000 | 23,605,000 |
Contractual inventory | 1,277,000 | 0 |
Total Current Assets | 421,313,000 | 369,172,000 |
Goodwill | 955,874,000 | 919,591,000 |
Other intangible assets—net | 154,931,000 | 154,176,000 |
Employee supplemental savings plan assets | 29,383,000 | 27,557,000 |
Property and equipment—net | 23,121,000 | 22,439,000 |
Investments | 11,691,000 | 10,853,000 |
Other assets | 2,151,000 | 2,636,000 |
TOTAL ASSETS | 1,598,464,000 | 1,506,424,000 |
LIABILITIES | ||
Accounts payable and accrued expenses | 108,888,000 | 106,271,000 |
Accrued salaries and related expenses | 70,768,000 | 60,940,000 |
Billings in excess of revenue earned | 11,998,000 | 12,685,000 |
Total Current Liabilities | 191,654,000 | 179,896,000 |
Deferred income taxes—non-current | 122,081,000 | 102,035,000 |
Accrued retirement | 30,581,000 | 29,877,000 |
Other long-term liabilities | 12,481,000 | 10,879,000 |
TOTAL LIABILITIES | 356,797,000 | 322,687,000 |
COMMITMENTS AND CONTINGENCIES | ||
STOCKHOLDERS' EQUITY | ||
Additional paid-in capital | 471,906,000 | 438,168,000 |
Treasury stock | (9,158,000) | (9,158,000) |
Retained earnings | 778,710,000 | 754,457,000 |
Accumulated other comprehensive loss | (181,000) | (109,000) |
TOTAL STOCKHOLDERS' EQUITY | 1,241,667,000 | 1,183,737,000 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | 1,598,464,000 | 1,506,424,000 |
Class A Common Stock [Member] | ||
STOCKHOLDERS' EQUITY | ||
Common stock | 258,000 | 247,000 |
TOTAL STOCKHOLDERS' EQUITY | 258,000 | 247,000 |
Class B Common Stock [Member] | ||
STOCKHOLDERS' EQUITY | ||
Common stock | 132,000 | 132,000 |
TOTAL STOCKHOLDERS' EQUITY | $ 132,000 | $ 132,000 |
Consolidated Balance Sheets Par
Consolidated Balance Sheets Parenthetical - $ / shares | Dec. 31, 2016 | Dec. 31, 2015 |
Treasury Stock, Shares | 244,113 | 244,113 |
Class A Common Stock [Member] | ||
Common Stock, Par Value Per Share | $ 0.01 | $ 0.01 |
Common Stock, Shares Authorized | 150,000,000 | 150,000,000 |
Common Stock, Shares Issued | 25,795,973 | 24,731,584 |
Common Stock, Shares Outstanding | 25,551,860 | 24,487,471 |
Class B Common Stock [Member] | ||
Common Stock, Par Value Per Share | $ 0.01 | $ 0.01 |
Common Stock, Shares Authorized | 50,000,000 | 50,000,000 |
Common Stock, Shares Issued | 13,190,745 | 13,191,845 |
Common Stock, Shares Outstanding | 13,190,745 | 13,191,845 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
REVENUES | $ 1,601,596,000 | $ 1,550,117,000 | $ 1,773,981,000 |
Cost of services | 1,369,775,000 | 1,320,697,000 | 1,524,208,000 |
General and administrative expenses | 140,858,000 | 144,534,000 | 154,957,000 |
OPERATING INCOME | 90,963,000 | 84,886,000 | 94,816,000 |
Loss on extinguishment of debt | 0 | 0 | (10,074,000) |
Interest expense | (1,097,000) | (1,193,000) | (5,802,000) |
Interest income | 121,000 | 160,000 | 394,000 |
Other income (expense), net | 83,000 | 1,501,000 | (233,000) |
INCOME FROM OPERATIONS BEFORE INCOME TAXES AND EQUITY METHOD INVESTMENTS | 90,070,000 | 85,354,000 | 79,101,000 |
Provision for income taxes | (33,786,000) | (34,366,000) | (31,525,000) |
Equity in gains (losses) of unconsolidated subsidiaries | 107,000 | 139,000 | (282,000) |
NET INCOME | $ 56,391,000 | $ 51,127,000 | $ 47,294,000 |
Class A Common Stock [Member] | |||
BASIC EARNINGS PER SHARE: | |||
Basic earnings per share | $ 1.48 | $ 1.36 | $ 1.27 |
DILUTED EARNINGS PER SHARE: | |||
Diluted earnings per share | 1.47 | 1.36 | 1.27 |
Class B Common Stock [Member] | |||
BASIC EARNINGS PER SHARE: | |||
Basic earnings per share | 1.48 | 1.36 | 1.27 |
DILUTED EARNINGS PER SHARE: | |||
Diluted earnings per share | $ 1.47 | $ 1.36 | $ 1.27 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Net income | $ 56,391 | $ 51,127 | $ 47,294 |
OTHER COMPREHENSIVE INCOME (LOSS): | |||
Actuarial gain (loss) on defined benefit pension plans, net of tax | (29) | 84 | (64) |
Translation adjustments, net of tax | (43) | 14 | (19) |
Total other comprehensive income (loss) | (72) | 98 | (83) |
COMPREHENSIVE INCOME | $ 56,319 | $ 51,225 | $ 47,211 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands | Total | Common Stock, Class A | Common Stock, Class B | Additional Paid-In Capital | Treasury Stock, at cost | Retained Earnings | Accumulated Other Comprehensive Loss |
At beginning of year at Dec. 31, 2013 | $ 242 | $ 132 | $ 423,787 | $ (9,158) | $ 718,892 | $ (124) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Stock option exercises | 2 | 3,919 | |||||
Stock compensation expense | 4,400 | ||||||
Tax deficiency from the exercise of stock options | (3,211) | ||||||
Net income | $ 47,294 | 47,294 | |||||
Dividends | (31,313) | ||||||
Translation adjustments, net of tax | (19) | (19) | |||||
Actuarial gain (loss) on defined benefit pension plans, net of tax | (64) | (64) | |||||
At end of year at Dec. 31, 2014 | 1,154,779 | 244 | 132 | 428,895 | (9,158) | 734,873 | (207) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Stock option exercises | 3 | 7,865 | |||||
Stock compensation expense | 4,379 | ||||||
Tax deficiency from the exercise of stock options | (2,971) | ||||||
Net income | 51,127 | 51,127 | |||||
Dividends | (31,543) | ||||||
Translation adjustments, net of tax | 14 | 14 | |||||
Actuarial gain (loss) on defined benefit pension plans, net of tax | 84 | 84 | |||||
At end of year at Dec. 31, 2015 | 1,183,737 | 247 | 132 | 438,168 | (9,158) | 754,457 | (109) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Stock option exercises | 11 | 30,551 | |||||
Stock compensation expense | 3,323 | ||||||
Tax deficiency from the exercise of stock options | (136) | ||||||
Net income | 56,391 | 56,391 | |||||
Dividends | (32,138) | ||||||
Translation adjustments, net of tax | (43) | (43) | |||||
Actuarial gain (loss) on defined benefit pension plans, net of tax | (29) | (29) | |||||
At end of year at Dec. 31, 2016 | $ 1,241,667 | $ 258 | $ 132 | $ 471,906 | $ (9,158) | $ 778,710 | $ (181) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | |||
Net income | $ 56,391,000 | $ 51,127,000 | $ 47,294,000 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Deferred income taxes | 18,254,000 | 30,553,000 | 18,668,000 |
Depreciation and amortization | 30,191,000 | 30,276,000 | 30,446,000 |
Stock-based compensation | 3,323,000 | 4,379,000 | 4,400,000 |
Excess tax benefits from the exercise of stock options | (1,656,000) | (73,000) | (70,000) |
Equity in (gains) losses of unconsolidated subsidiaries | (107,000) | (139,000) | 282,000 |
(Gain) loss on sale and retirement of property and equipment | (12,000) | (656,000) | 251,000 |
Gain on disposition of business | 0 | (1,692,000) | 0 |
Loss on extinguishment of debt | 0 | 0 | 10,074,000 |
Change in assets and liabilities—net of effects from acquired businesses: | |||
Receivables-net | (5,611,000) | 82,727,000 | 102,076,000 |
Prepaid expenses and other | (10,641,000) | (4,990,000) | 326,000 |
Contractual inventory | (1,277,000) | 0 | 3,963,000 |
Employee supplemental savings plan asset | (1,826,000) | 4,184,000 | 24,000 |
Accounts payable and accrued expenses | (162,000) | (44,103,000) | (87,105,000) |
Accrued salaries and related expenses | 6,926,000 | 2,703,000 | (2,762,000) |
Billings in excess of revenue earned | (687,000) | 913,000 | (750,000) |
Accrued retirement | 704,000 | (2,927,000) | (761,000) |
Other | 1,954,000 | 1,601,000 | 569,000 |
Net cash flow from operating activities | 95,764,000 | 153,883,000 | 126,925,000 |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||
Acquisition of businesses-net of cash acquired | (60,556,000) | (101,556,000) | (124,247,000) |
Purchases of property and equipment | (7,662,000) | (5,202,000) | (4,083,000) |
Investment in capitalized software for internal use | (2,748,000) | (1,025,000) | (7,399,000) |
Payments to acquire investments | (1,183,000) | (4,500,000) | (159,000) |
Proceeds from sale of property and equipment | 17,000 | 696,000 | 0 |
Transaction costs for disposition of business | 0 | (1,174,000) | 0 |
Proceeds from sale of investment | 0 | 13,000 | 0 |
Net cash flow from investing activities | (72,132,000) | (112,748,000) | (135,888,000) |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Dividends paid | (32,139,000) | (31,543,000) | (31,312,000) |
Proceeds from exercise of stock options | 30,562,000 | 7,868,000 | 3,922,000 |
Excess tax benefits from the exercise of stock options | 1,656,000 | 73,000 | 70,000 |
Debt issuance costs | (89,000) | 0 | (1,687,000) |
Borrowings under revolving credit facility | 0 | 163,200,000 | 160,000,000 |
Repayments under revolving credit facility | 0 | (163,200,000) | (160,000,000) |
Repayment of senior unsecured notes | 0 | 0 | (207,250,000) |
Net cash flow from financing activities | (10,000) | (23,602,000) | (236,257,000) |
NET CHANGE IN CASH AND CASH EQUIVALENTS | 23,622,000 | 17,533,000 | (245,220,000) |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 41,314,000 | 23,781,000 | 269,001,000 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | 64,936,000 | 41,314,000 | 23,781,000 |
SUPPLEMENTAL CASH FLOW INFORMATION | |||
Cash paid for interest | 983,000 | 1,203,000 | 8,597,000 |
Noncash investing and financing activities: | |||
Capital expenditures incurred but not yet paid | $ 325,000 | $ 0 | $ 96,000 |
Description of the Business (No
Description of the Business (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Description of the Business [Text Block] | Description of the Business ManTech International Corporation (depending on the circumstances, “ManTech” “Company” “we” “our” “ours” or “us”) provides innovative technologies and solutions for mission-critical national security programs for the intelligence community; the departments of Defense, State, Homeland Security, Health and Human Services, Veteran Affairs and Justice, including the FBI; the space community; and other U.S. government customers. We provide support to critical national security programs for approximately 50 federal agencies through approximately 1,000 current contracts. Our expertise includes cybersecurity; software and systems development; enterprise IT; multi-disciplined intelligence; program protection and mission assurance; systems engineering; test and evaluation; C4ISR; training; supply chain management and logistics; and management consulting. We support major national missions, such as military readiness and wellness, terrorist threat detection, information security and border protection. Our employees operate primarily in the U.S. as well as numerous locations internationally. |
Summary of Significant Accounti
Summary of Significant Accounting Policies (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | Summary of Significant Accounting Policies Principles of Consolidation -Our consolidated financial statements include the accounts of ManTech International Corporation, subsidiaries we control and variable interest entities that are required to be consolidated. All intercompany accounts and transactions have been eliminated. Other investments in entities where we have significant influence, but not control, are accounted for using the equity method. Use of Accounting Estimates -We prepare our consolidated financial statements in conformity with U.S. GAAP, which require management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates involve judgments with respect to, among other things, various future economic factors that are difficult to predict and are beyond the control of us. Therefore, actual amounts could differ from these estimates. Revenue Recognition -We derive the majority of our revenues from cost-plus-fixed-fee, cost-plus-award-fee, fixed-price and time-and-materials contracts. Revenues for cost-reimbursable contracts are recorded as reimbursable costs are incurred, including an estimated share of the applicable contractual fees earned. For performance-based fees under cost-reimbursable contracts, we recognize the relevant portion of the expected fee to be awarded by the customer at the time such fee can be reasonably estimated, based on factors such as our prior award experience and communications with the customer regarding performance, or upon approval by the customer. For time-and-materials contracts, revenues are recognized to the extent of billable rates times hours delivered plus materials and other reimbursable costs incurred. For long-term fixed-price contracts, revenues are recognized at a rate per unit as the units are delivered or by other methods to measure services provided. Revenues from other long-term fixed-price contracts are recognized ratably over the contract period or by other appropriate methods to measure services provided. Contract costs are expensed as incurred except for certain limited long-term contracts noted below. For long-term contracts, specifically described in the scope section of ASC 605-35 , Revenue Recognition - Construction-Type and Production-Type Contracts , we apply the percentage of completion method. Under the percentage of completion method, income is recognized at a consistent profit margin over the period of performance based on estimated profit margins at completion of the contract. This method of accounting requires estimating the total revenues and total contract cost at completion of the contract. During the performance of long-term contracts, these estimates are periodically reviewed and revisions are made as required using the cumulative catch-up method of accounting. The impact on revenues and contract profit as a result of these revisions is included in the periods in which the revisions are made. This method can result in the deferral of costs or the deferral of profit on these contracts. Because we assume the risk of performing a fixed-price contract at a set price, the failure to accurately estimate ultimate costs or to control costs during performance of the work could result, and in some instances has resulted, in reduced profits or losses for such contracts. Estimated losses on contracts at completion are recognized when identified. In certain circumstances, revenues are recognized when contract amendments have not been finalized. Cost of Services -Cost of services consists primarily of compensation expenses for program personnel, the fringe benefits associated with this compensation and other direct expenses incurred to complete programs, including cost of materials and subcontract efforts. General and Administrative Expenses- General and administrative expenses include the salaries and wages, plus associated fringe benefits of our employees not performing work directly for customers, and associated facilities costs. Among the functions covered by these costs are corporate business development, bid and proposal, contracts administration, finance and accounting, legal, corporate governance and executive and senior management. In addition, we include stock-based compensation, as well as depreciation and amortization expenses related to the general and administrative function. We recognize interest related to unrecognized tax benefits within interest expense and penalties related to unrecognized tax benefits in general and administrative expenses. We classify indirect costs incurred as cost of services and general and administrative expenses in the same manner as such costs are defined in our disclosure statements under U.S. Government Cost Accounting Standards. Cash and Cash Equivalents -For the purpose of reporting cash flows, cash and cash equivalents include cash on hand, amounts due from banks and short-term investments with maturity dates of three months or less at the date of purchase. Due to the short maturity of cash equivalents, the carrying value on our consolidated balance sheets approximates fair value. Property and Equipment -Property and equipment are recorded at original cost to us. Upon sale or retirement, the costs and related accumulated depreciation or amortization are eliminated from the respective accounts and any resulting gain or loss is included in income. Maintenance and repairs are charged to expense as incurred. Depreciation and Amortization Method -Furniture and office equipment are depreciated using the straight-line method with estimated useful lives ranging from one to seven years . Leasehold improvements are amortized using the straight-line method over the shorter of the asset's useful life or the term of the lease. Goodwill -The purchase price of an acquired business is allocated to the tangible assets, financial assets and separately recognized intangible assets acquired less liabilities assumed based upon their respective fair values, with the excess recorded as goodwill. We review goodwill at least annually for impairment, or whenever events or circumstances indicate that the carrying value of long-lived assets may not be fully recoverable. Other Intangible Assets -Contract rights and other intangible assets are amortized primarily using the pattern of benefits method over periods ranging from one to twenty-five years . We account for the cost of computer software developed or obtained for internal use in accordance with ASC 350-985 , Intangibles - Goodwill and Other - Software . These capitalized software costs are included in other intangible assets, net. We account for software development costs related to software products for sale, lease or otherwise marketed in accordance with ASC 985-20 , Software - Costs of Software to Be Sold, Leased, or Marketed . For projects fully funded by us, development costs are capitalized from the point of demonstrated technological feasibility until the point in time that the product is available for general release to customers. Once the product is available for general release, capitalized costs are amortized based on units sold or on a straight-line basis over a five -year period or other such shorter period as may be required. Impairment of Long-Lived Assets- Whenever events or changes in circumstances indicate that the carrying amount of long-lived assets may not be fully recoverable, we evaluate the probability that future undiscounted net cash flows will be less than the carrying amount of the assets. If any impairment were indicated as a result of this review, we would recognize a loss based on the amount by which the carrying amount exceeds the estimated fair value. Employee Supplemental Savings Plan (ESSP) Assets -We maintain several non-qualified defined contribution supplemental retirement plans for certain key employees that are accounted for in accordance with ASC 710-10-05 , Compensation - General - Deferred Compensation - Rabbi Trust , as the underlying assets are held in rabbi trusts with investments directed by the respective employee. A rabbi trust is a grantor trust generally set up to fund compensation for a select group of management and the assets of this trust are available to satisfy the claims of general creditors in the event of bankruptcy of us. The assets held by the rabbi trusts are recorded at cash surrender value in our consolidated financial statements as ESSP assets with a related liability to employees recorded as a deferred compensation liability in accrued retirement. Billings In Excess of Revenue Earned -We receive advances and milestone payments from customers that exceed the revenues earned to date. We classify such items as current liabilities. Stock-based Compensation -We account for stock-based compensation in accordance with ASC 718 , Compensation - Stock Compensation , which requires the use of a valuation model to calculate the fair value of stock-based awards. We have elected to use the Black-Scholes-Merton pricing model to determine fair value on the dates of grant. The fair value is included in operating expenses or capitalized, as appropriate, straight-line over the period in which service is provided in exchange for the award. The grant date fair value of the restricted stock is equal to the closing market price of our common stock on the date of grant. The compensation expense for restricted stock is recognized over the service period and is based on the grant date fair value of the stock and the number of shares expected to vest. The grant date fair value of the restricted stock unit (RSU) is equal to the closing market price of our common stock on the grant date less the present value of dividends expected to be awarded during the service period. We recognize the grant date fair value of RSUs of shares we expect to issue as compensation expense ratably over the requisite service period. Income Taxes -We account for income taxes in accordance with ASC 740 , Income Taxes . Under this method, deferred income taxes are determined based on the estimated future tax effects of differences between the financial statement and tax bases of assets and liabilities given the provisions of enacted tax laws. Deferred income tax provisions and benefits are based on changes to the assets or liabilities from year-to-year. In providing for deferred taxes, we consider tax regulations of the jurisdictions in which we operate, estimates of future taxable income and available tax planning strategies. If tax regulations, operating results or the ability to implement tax-planning strategies vary, adjustments to the carrying value of deferred tax assets and liabilities may be required. Valuation allowances are recorded related to deferred tax assets based on the “more likely than not” criteria. We recognize the financial statement benefit of a tax position only after determining that the relevant tax authority would “more likely than not” sustain the position following an audit. For tax positions meeting the “more likely than not” threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. Foreign-Currency Translation -All assets and liabilities of foreign subsidiaries are translated into U.S. dollars at fiscal year-end exchange rates. Income and expense items are translated at average monthly exchange rates prevailing during the fiscal year. The resulting translation adjustments are recorded as a component of accumulated other comprehensive income (loss). Comprehensive Income (Loss) -Comprehensive income (loss) consists of net income; translation adjustments, net of tax; and actuarial gain (loss) on defined benefit pension plan, net of tax. Fair Value of Financial Instruments -The carrying value of our cash and cash equivalents, accounts receivable, accounts payable and accrued expenses approximate their fair value because of the short-term nature of these amounts. Variable Interest Entities (VIEs) -We determine whether we have a controlling financial interest in a VIE. The reporting entity with a variable interest or interest that provides the reporting entity with a controlling financial interest in a VIE will have both (a) the power to direct the activities of a VIE that most significantly impact the VIE's economic performance and (b) the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. We have one entity that has been consolidated as a VIE. The purpose of the entity is to perform on certain U.S. Navy contracts. The maximum amount of loss we are exposed to as of December 31, 2016 was not material to our consolidated financial statements. Investments -Investments where we have the ability to exercise significant influence, but we do not control, are accounted for under the equity method of accounting and are included in other assets on our consolidated balance sheets. Significant influence typically exists if we have a 20% to 50% ownership interest in the investee. Under this method of accounting, our share of the net earnings or losses of the investee is included in equity in earnings or losses of unconsolidated subsidiaries on our consolidated statement of income and loss. Investments where we have less than 20% ownership interest in the investee and lack the ability to exercise significant influence are accounted for under the cost method. Under the cost method, we recognize our investment in the stock of an investee as an asset. The investment is measured initially at cost. We recognize as income dividends received that are distributed from net accumulated earnings. Dividends received in excess of earnings are considered a return of investment and are recorded as reductions of costs of the investment. Impairment is assessed at the individual investment level. An investment is impaired if the fair value of the investment is less than its costs. If it is determined that the impairment is other than temporary, then an impairment loss is recognized in earnings. The fair value of the investment would become the new cost basis of the investment and will not be adjusted for subsequent recoveries in fair value. ASUs On January 26, 2017, the Financial Accounting Standards Board (FASB) has issued ASU 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment , which simplifies the manner in which an entity is required to test goodwill for impairment by eliminating Step 2 from the goodwill impairment test. Step 2 measures a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount of that goodwill. In computing the implied fair value of goodwill under Step 2, an entity, prior to the amendments in ASU 2017-04, had to perform procedures to determine the fair value at the impairment testing date of its assets and liabilities, including unrecognized assets and liabilities, in accordance with the procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. However, under the amendments in this ASU, an entity should (1) perform its annual or interim goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount and (2) recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value, with the understanding that the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Additionally, ASU 2017-04 removes the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment and, if it fails such qualitative test, to perform Step 2 of the goodwill impairment test. Finally, this ASU amends the Overview and Background sections of the Accounting Standards Codification as part of the FASB’s initiative to unify and improve such sections across Topics and Subtopics. Public entities that are SEC filers should adopt the amendments in this ASU prospectively for their annual, or any interim, goodwill impairment tests in fiscal years beginning after December 15, 2019. Note that early adoption is permitted for all entities for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. We are currently evaluating the effect of adoption on our consolidated financial statements. On January 5, 2017, the FASB has issued ASU 2017-01, Business Combinations (Topic 805)—Clarifying the Definition of a Business , which clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. Under the current implementation guidance in Topic 805, there are three elements of a business: inputs, processes and outputs. While an integrated set of assets and activities (collectively, a “set”) that is a business usually has outputs, outputs are not required to be present. Additionally, all of the inputs and processes that a seller uses in operating a set are not required if market participants can acquire the set and continue to produce outputs. The amendments in ASU 2017-01 provide a screen to determine when a set is not a business. The screen requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. This screen reduces the number of transactions that need to be further evaluated. If, however, the screen is not met, then the amendments in this ASU (1) require that to be considered a business, a set must include, at a minimum, an input and a substantive process that together significantly contribute to the ability to create output and (2) remove the evaluation of whether a market participant could replace missing elements. Finally, the amendments in this ASU narrow the definition of the term “output” so that the term is consistent with the manner in which outputs are described in Topic 606. The amendments are effective for annual periods beginning after December 15, 2017, including interim periods within those periods, with early adoption permissible. We are currently evaluating the effect of adoption on our consolidated financial statements. On August 26, 2016, the FASB issued ASU 2016-15— Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments . This ASU addresses the following eight specific cash flow issues: debt prepayment or debt extinguishment costs; settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing; contingent consideration payments made after a business combination; proceeds from the settlement of insurance claims; proceeds from the settlement of corporate-owned life insurance policies (including bank-owned life insurance policies); distributions received from equity method investees; beneficial interests in securitization transactions; and separately identifiable cash flows and application of the predominance principle. The amendments in this ASU apply to all entities, including both business entities and not-for-profit entities that are required to present a statement of cash flows under Topic 230. The amendments in ASU 2016-15 become effective for fiscal years that start after December 15, 2017. We do not plan to early adopt this ASU. We plan to apply it retrospectively to all periods presented in our quarterly and annual reports on Form 10-Q and Form 10-K. We plan to apply the equity method of accounting for applicable investments. Therefore, we will make an accounting policy election to classify distributions received from equity method investees using the cumulative earnings approach. Distributions received are considered returns on investment and classified as cash inflows from operating activities, unless the investor’s cumulative distributions received less distributions received in prior periods that were determined to be returns of investment exceed cumulative equity in earnings recognized by the investor (as adjusted for amortization of basis differences). When such an excess occurs, the current-period distribution up to this excess is considered a return of investment and should be classified as cash inflows from investing. We do not expect this ASU to have a material effect on our consolidated financial statements. On March 30, 2016, the FASB issued ASU 2016-09— Compensation-Stock Compensation (Topic 718) . The FASB is issuing this ASU as part of its Simplification Initiative. The amendments in this ASU affect all entities that issue share-based payment awards to their employees. The areas for simplification in this ASU involve several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liability and classification on the statement of cash flows. Specifically, all excess tax benefits and tax deficiencies should be recognized as income tax expense or benefit in the income statement. The tax effects of exercised or vested awards should be treated as discrete items in the reporting period in which they occur. An entity also should recognize excess tax benefits regardless of whether the benefit reduces taxes payable in the current period. Excess tax benefits should be classified along with other income tax cash flows as an operating activity. An entity can make an entity-wide accounting policy election to either estimate the number of awards that are expected to vest or account for forfeitures when they occur. The threshold to qualify for equity classifications permits withholding up to the maximum statutory tax rates in the applicable jurisdiction. Cash paid by an employer when directly withholding shares for tax-withholding purposes should be classified as a financing activity. For public business entities, the amendments in this ASU are effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Early adoption is permitted for any entity in any interim or annual period. Amendments related to the timing of when excess tax benefits are recognized, minimum statutory withholding requirements, forfeitures and intrinsic value should be applied using a modified retrospective transition method by means of a cumulative-effect adjustment to equity as of the beginning of the period in which the guidance is adopted. Amendments related to the presentation of employee taxes paid on the statement of cash flows when an employer withholds shares to meet the minimum statutory withholding requirement should be applied retrospectively. Amendments requiring recognition of excess tax benefits and tax deficiencies in the income statement and the practical expedient for estimating expected term should be applied prospectively. An entity may elect to apply the amendments related to the presentation of excess tax benefits on the statement of cash flows using either a prospective transition method or a retrospective transition method. We are adopting this ASU on January 1, 2017. We will be accounting for forfeitures as they occur, as such we will record a cumulative-effect adjustment to retained earnings for $0.2 million . While we do not expect this ASU to have a material impact on our consolidated financial statements, it will introduce an additional element of volatility in our effective tax rate. On March 15, 2016, the FASB issued ASU 2016-07— Investments—Equity Method and Joint Ventures (Topic 323). This ASU simplifies the accounting for equity method investments. The amendments in this ASU eliminate the requirement in Topic 323 that an entity retroactively adopt the equity method of accounting if an investment qualifies for use of the equity method as a result of an increase in the level of ownership or degree of influence. The amendments require that the equity method investor add the cost of acquiring the additional interest in the investee to the current basis of the investor’s previously held interest and adopt the equity method of accounting as of the date the investment becomes qualified for equity method accounting. The amendments in this ASU affect all entities that have an investment that becomes qualified for the equity method of accounting as a result of an increase in the level of ownership interest or degree of influence. The amendments in this ASU are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. The amendments should be applied prospectively upon their effective date to increases in the level of ownership interest or degree of influence that result in the adoption of the equity method. Earlier application is permitted. No additional disclosures are required at transition. We do not expect this ASU to have a material effect on our consolidated financial statements. On February 25, 2016, the FASB issued ASU 2016-02— Leases (Topic 842) . The amendments in this ASU create Topic 842 , Leases , and supersede the leases requirements in Topic 840, Leases . Topic 842 specifies the accounting for leases. The objective of Topic 842 is to establish the principles that lessees and lessors should apply to report useful information to users of financial statements about the amount, timing and uncertainty of cash flows arising from a lease. This ASU is effective for public entities for annual periods after December 15, 2018, and interim periods therein. Early adoption is permitted for all entities. We are currently evaluating methods of adoption as well as the effect on our consolidated financial statements. However, it is expected to increase total assets and total liabilities for current operating leases that are currently recorded off balance sheet. On May 28, 2014, the FASB issued ASU 2014-09— Revenue from Contracts with Customers. ASU 2014-09 supersedes existing revenue recognition guidance, including ASC 605-35 , Revenue Recognition - Construction-Type and Production-Type Contracts . ASU 2014-09 outlines a single set of comprehensive principles for recognizing revenue under GAAP. Among other things, it requires companies to identify contractual performance obligations and determine whether revenue should be recognized at a point in time or over time. These concepts, as well as other aspects of ASU 2014-09, may change the method and/or timing of revenue recognition for certain of our contracts. ASU 2014-09 may be applied either retrospectively or through the use of a modified-retrospective method. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date. The amendments in ASU 2015-14 defer the effective date of ASU 2014-09 for all entities by one year. Public business entities should apply the guidance in ASU 2014-09 to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. Several related ASUs have been issued since the issuance of ASU 2014-09. These ASUs, which modify certain sections of ASU 2014-09, are intended to promote a more consistent interpretation and application of the principles outlined in the standard. Also these ASUs provide technical corrections and updates intended to clarify ASU 2014-09, which we do not expect to have a significant impact on the application of ASU 2014-09. The adoption of ASU 2014-09 will impact our policies, controls, business processes and information systems. To prepare for the changes in this guidance, we developed a plan for adoption. Based on our plan, we commenced an assessment in 2016 on the impacts of this guidance on a representative sample of our existing contract population. The sample contracts selected covered more than 20% of our existing revenue base and included contracts from all of our various contract types. A majority of the contracts we tested were not impacted by the new guidance. For contracts that were impacted, we identified two primary differences. First, the determination of performance obligations under this ASU will lead to a different unit of accounting then we are currently applying. Second, for contracts where we are recognizing revenue ratably over the contract term, we will reassess whether the contract, or performance obligation, meets the definition of a "stand ready to perform" obligation. Those contracts that do not meet the "stand ready to perform" definition will be transitioned to a percentage of completion model primarily based on cost incurred. The impact of these changes will produce a more consistent gross margin period-to-period as the obligations are satisfied. We are currently developing a detailed implementation plan for 2017, which includes, among other things, an update to our policies, development of disclosures, updates to our controls and application of the guidance across our contract population. We are still assessing the quantitative impact to our consolidated financial statements as well as a transition method. Other ASUs effective after December 31, 2016 are not expected to have a material effect on our consolidated financial statements. |
Acquisitions (Notes)
Acquisitions (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Business Combinations [Abstract] | |
Acquisitions [Text Block] | Acquisitions Edaptive Systems LLC (Edaptive) —On December 15, 2016 , we completed the acquisition of Edaptive. The results of Edaptive's operations have been included in our consolidated financial statements since that date. The acquisition was completed through a membership interest purchase agreement dated December 15, 2016 , by and among Edaptive, Everest Holdco, Inc., and certain members of Edaptive and ManTech Advanced Systems International, Inc. Edaptive provides innovative IT solutions primarily to federal health agencies, with a significant focus on the Centers for Medicare & Medicaid Services (CMS). The acquisition strategically expands our reach within the federal health community. We funded the acquisition with cash on hand. The membership interest purchase agreement did not contain provisions for contingent consideration. For the year ended December 31, 2016, we incurred approximately $0.3 million of acquisition costs related to the Edaptive transaction, which are included in the general and administrative expenses in our consolidated statement of income. The preliminary purchase price of $13.2 million was preliminarily allocated to the underlying assets and liabilities based on their estimated fair value at the date of acquisition. The purchase price allocation for Edaptive is not complete as of December 31, 2016 . The goodwill recorded related to this transaction will be deductible for tax purposes over 15 years . Recognition of goodwill is largely attributed to the value paid for Edaptive's capabilities to support Department of Health and Human Services customers and, specifically, in agile software development, testing and automation and business intelligence. In preliminarily allocating the purchase price, we considered, among other factors, analysis of historical financial performance and estimates of future performance of Edaptive's contracts. The components of other intangible assets associated with the acquisition were customer relationships and backlog valued at $1.1 million and $0.3 million , respectively. Customer contracts and related relationships represent the underlying relationships and agreements with Edaptive's existing customers. Customer relationships are amortized using the pattern of benefits method over their estimated useful lives of approximately 10 years . Backlog is amortized straight-line over its estimated useful life of 1 year . The weighted-average amortization period for the intangible assets is 8 years . The following table represents the preliminary purchase price allocation for Edaptive, as we are still in the process of reviewing the fair value of the assets acquired and liabilities assumed and determining the closing working capital adjustment (in thousands): Cash and cash equivalents $ 282 Receivables 10,813 Prepaid expenses and other 144 Goodwill 6,193 Other intangible assets 1,689 Property and equipment 502 Other assets 116 Accounts payable and accrued expenses (4,267 ) Accrued salaries and related expenses (2,316 ) Net assets acquired and liabilities assumed $ 13,156 We have not disclosed current period, nor pro forma, revenues and earnings attributable to Edaptive as our integration of these operations post-acquisition and the entity's accounting methods pre-acquisition make it impracticable. Oceans Edge, Inc, Cyber Division (OEC) —On June 10, 2016 , we completed the acquisition of certain assets of OEC which constituted a business. The results of OEC's operations have been included in our consolidated financial statements since that date. The acquisition was completed through an asset purchase agreement dated June 10, 2016 , by and among Oceans Edge, Inc., Oceans Edge Cyber, LLC, certain owners of Ocean's Edge, Inc. and ManTech Advanced Systems International, Inc. OEC provides technical and professional services under government contracts in the defense and intelligence industries, including turnkey system solutions in cyber offense and defense, mission operations support and operations assessment and analysis. The OEC team of computer network operations (CNO) professionals will enhance our advanced CNO tools and research and development offerings with new business across the DoD landscape, including United States Cyber Command. The acquisition strategically strengthens our capabilities to support our federal agency customers and, specifically, to engineer and develop new, advanced solutions for wireless devices, networks, and infrastructures. We funded the acquisition with cash on hand. The asset purchase agreement did not contain provisions for contingent consideration. For the year ended December 31, 2016, we incurred approximately $1.2 million of acquisition costs related to the OEC transaction, which are included in the general and administrative expenses in our consolidated statement of income. The purchase price of $47.7 million was allocated to the underlying assets and liabilities based on their estimated fair value at the date of acquisition. The goodwill recorded related to this transaction will be deductible for tax purposes over 15 years . Recognition of goodwill is largely attributed to the value paid for OEC's capabilities in adding additional vulnerability research, development and analysis capabilities to our existing cyber intelligence business. In allocating the purchase price, we considered, among other factors, analysis of historical financial performance and estimates of future performance of OEC's contracts. The components of other intangible assets associated with the acquisition were technology, customer relationships and backlog valued at $3.0 million , $14.0 million and $1.0 million , respectively. Technology represents a suite of mobile analysis and exploitation offerings, which is used by customers in support of their missions. Technology is amortized straight-line over its estimated useful life of 5 years . Customer contracts and related relationships represent the underlying relationships and agreements with OEC's existing customers. Customer relationships are amortized using the pattern of benefits method over their estimated useful lives of approximately 20 years . Backlog is amortized straight-line over its estimated useful life of 1 year . The weighted-average amortization period for the intangible assets is 16 years . The following table represents the purchase price allocation for OEC (in thousands): Receivables $ 138 Goodwill 30,090 Other intangible assets 18,000 Property and equipment 69 Accounts payable and accrued expenses (29 ) Accrued salaries and related expenses (586 ) Net assets acquired and liabilities assumed $ 47,682 We have not disclosed current period, nor pro forma, revenues and earnings attributable to OEC as our integration of these operations post-acquisition and the entity's accounting methods pre-acquisition make it impracticable. Knowledge Consulting Group, Inc. (KCG) —On June 15, 2015 , we completed the acquisition of KCG. The results of KCG's operations have been included in our consolidated financial statements since that date. The acquisition was completed through an agreement and plan of merger dated June 15, 2015 , by and among ManTech Advanced Systems International, Inc., Knight Acquisitions Corporation and KCG. KCG provides comprehensive cyber security services including cloud security, certification and accreditation and various cyber defense solutions across federal and commercial markets. The acquisition strategically positions us to pursue additional cyber work in the Department of Homeland Security, FBI and the intelligence community by leveraging our enhanced cloud security expertise. We funded the acquisition through a combination of cash on hand and borrowings under our revolving credit facility. The agreement did not contain provisions for contingent consideration. For the year ended December 31, 2015, we incurred approximately $0.3 million of acquisition costs related to the KCG transaction, which are included in the general and administrative expenses in our consolidated statement of income. The purchase price of $68.2 million was allocated to the underlying assets and liabilities based on their estimated fair value at the date of acquisition. The goodwill recorded related to this transaction will be deductible for tax purposes over 15 years . Recognition of goodwill is largely attributed to the value paid for KCG's capabilities in providing comprehensive cyber security services throughout the DoD and intelligence community. In allocating the purchase price, we considered, among other factors, analysis of historical financial performance and estimates of future performance of KCG's contracts. The components of other intangible assets associated with the acquisition were customer relationships and backlog valued at $12.4 million and $0.8 million , respectively. Customer contracts and related relationships represent the underlying relationships and agreements with KCG's existing customers. Customer relationships are amortized using the pattern of benefits method over their estimated useful lives of approximately 15 years . Backlog is amortized straight-line over its estimated useful life of 1 year . The weighted-average amortization period for the intangible assets is 14 years . The following table represents the purchase price allocation for KCG (in thousands): Cash and cash equivalents $ 658 Receivables 6,532 Prepaid expenses and other 460 Goodwill 47,487 Other intangible assets 13,219 Property and equipment 1,419 Investments 15 Other assets 31 Accounts payable and accrued expenses (1,269 ) Accrued salaries and related expenses (336 ) Billings in excess of revenue earned (2 ) Net assets acquired and liabilities assumed $ 68,214 We have not disclosed current period, nor pro forma, revenues and earnings attributable to KCG as our integration of these operations post-acquisition and the entity's accounting methods pre-acquisition make it impracticable. Welkin Associates, Ltd. (Welkin) —On April 27, 2015 , we completed the acquisition of Welkin, formerly a wholly-owned subsidiary of Computer Sciences Corporation (CSC). The results of Welkin's operations have been included in our consolidated financial statements since that date. The acquisition was completed through a stock purchase agreement dated April 27, 2015 , by and among ManTech International Corporation, CSC and Welkin. Welkin delivers mission-centric services in high-end systems engineering and advanced national security technology and business services. The acquisition strategically positions us to pursue large engineering and support opportunities throughout the intelligence community and DoD. We funded the acquisition with cash on hand. The stock purchase agreement did not contain provisions for contingent consideration. For the year ended December 31, 2015, we incurred approximately $0.7 million of acquisition costs related to the Welkin transaction, which are included in the general and administrative expenses in our consolidated statement of income. The purchase price of $34.0 million was allocated to the underlying assets and liabilities based on their estimated fair value at the date of acquisition. The goodwill recorded related to this transaction will be deductible for tax purposes over 15 years . Recognition of goodwill is largely attributed to the value paid for Welkin's capabilities in providing high-end systems engineering and support services throughout the intelligence community and DoD. In allocating the purchase price, we considered, among other factors, analysis of historical financial performance and estimates of future performance of Welkin's contracts. The components of other intangible assets associated with the acquisition were customer relationships and backlog valued at $6.0 million and $0.4 million , respectively. Customer contracts and related relationships represent the underlying relationships and agreements with Welkin's existing customers. Customer relationships are amortized using the pattern of benefits method over their estimated useful lives of approximately 15 years . Backlog is amortized straight-line over its estimated useful life of 1 year . The weighted-average amortization period for the intangible assets is 14 years . The following table represents the purchase price allocation for Welkin (in thousands): Receivables $ 3,901 Prepaid expenses and other 141 Goodwill 24,436 Other intangible assets 6,350 Property and equipment 100 Accounts payable and accrued expenses (436 ) Accrued salaries and related expenses (492 ) Net assets acquired and liabilities assumed $ 34,000 We have not disclosed current period, nor pro forma, revenues and earnings attributable to Welkin as our integration of these operations post-acquisition and the entity's accounting methods pre-acquisition make it impracticable. 7Delta Inc. (7Delta) —On May 23, 2014 , we completed the acquisition of all equity interests in 7Delta. The results of 7Delta's operations have been included in our consolidated financial statements since that date. The acquisition was completed through a stock purchase agreement dated May 23, 2014 , by and among ManTech International Corporation, 7Delta, SLS Holdings, Inc. and the stockholders of SLS Holdings, Inc. 7Delta performs critical services such as applications and software development, program management, systems integration, information assurance and security architecture primarily within the healthcare community at the Department of Veteran Affairs. We funded the acquisition through a combination of cash on hand and borrowings under our revolving credit facility. The stock purchase agreement did not contain provisions for contingent consideration. For the year ended December 31, 2014, we incurred approximately $0.5 million of acquisition costs related to the 7Delta transaction, which are included in the general and administrative expenses in our consolidated statement of income. The purchase price of $81.4 million was allocated to the underlying assets and liabilities based on their estimated fair value at the date of acquisition. The goodwill recorded related to this transaction will be deductible for tax purposes over 15 years . Recognition of goodwill is largely attributed to the value paid for 7Delta's capabilities in providing software development, program management, system integration, information assurance and security architecture to the Department of Veteran Affairs. In allocating the purchase price, we considered, among other factors, analysis of historical financial performance and estimates of future performance of 7Delta's contracts. The components of other intangible assets associated with the acquisition were customer relationships and backlog valued at $4.8 million and $2.9 million , respectively. Customer contracts and related relationships represent the underlying relationships and agreements with 7Delta's existing customers. Customer relationships are amortized using the pattern of benefits method over their estimated useful lives of approximately 10 years . Backlog is amortized straight-line over its estimated useful life of 2 years . The weighted-average amortization period for the intangible assets is 7 years . The following table represents the purchase price allocation for 7Delta (in thousands): Cash and cash equivalents $ 1,408 Receivables 9,664 Prepaid expenses and other 175 Goodwill 69,967 Other intangible assets 7,762 Property and equipment 597 Other assets 39 Accounts payable and accrued expenses (6,617 ) Accrued salaries and related expenses (1,399 ) Billings in excess of revenue earned (229 ) Net assets acquired and liabilities assumed $ 81,367 We have not disclosed current period, nor pro forma, revenues and earnings attributable to 7Delta as our integration of these operations post acquisition and the entity's accounting methods preacquisition make it impracticable. Allied Technology Group, Inc. (ATG) —On February 18, 2014 , we completed the acquisition of all equity interests in ATG. The results of ATG's operations have been included in our consolidated financial statements since that date. The acquisition was completed through a stock purchase agreement dated February 18, 2014 , by and among ManTech Advanced Systems International, Inc., ATG and the stockholders of ATG. ATG is an innovative engineering and information management solution company with strong customer relationships and strategic contracts with the Department of Homeland Security. ATG provides IT, engineering services, program management and training solutions to a variety of federal customers. The acquisition enabled us to deliver services through their unrestricted prime position on the Department of Homeland Security's primary acquisition vehicles: Technical, Acquisition and Business Support Services and Enterprise Acquisition Gateway for Leading Edge Solutions II. We funded the acquisition with cash on hand. The stock purchase agreement did not contain provisions for contingent consideration. For the year ended December 31, 2014, we incurred approximately $0.4 million of acquisition costs related to the ATG transaction, which are included in the general and administrative expenses in our consolidated statement of income. The purchase price of $45.0 million was allocated to the underlying assets and liabilities based on their estimated fair value at the date of acquisition. The goodwill recorded related to this transaction will be deductible for tax purposes over 15 years . Recognition of goodwill is largely attributed to the value paid for ATG's capabilities in providing technology service program management, systems engineering and IT services to the Department of Homeland Security. In allocating the purchase price, we considered, among other factors, analysis of historical financial performance and estimates of future performance of ATG's contracts. The components of other intangible assets associated with the acquisition were customer relationships and backlog valued at $6.4 million and $0.6 million , respectively. Customer contracts and related relationships represent the underlying relationships and agreements with ATG's existing customers. Customer relationships are amortized using the pattern of benefits method over their estimated useful lives of approximately 20 years . Backlog is amortized straight-line over its estimated useful life of 1 year . The weighted-average amortization period for the intangible assets is 18 years . The following table represents the purchase price allocation for ATG (in thousands): Cash and cash equivalents $ 712 Receivables 11,670 Prepaid expenses and other 1,432 Contractual inventory 1 Goodwill 28,806 Other intangible assets 7,071 Property and equipment 899 Other assets 111 Accounts payable and accrued expenses (3,399 ) Accrued salaries and related expenses (2,155 ) Billings in excess of revenue earned (148 ) Net assets acquired and liabilities assumed $ 45,000 We have not disclosed current period, nor pro forma, revenues and earnings attributable to ATG as our integration of these operations post acquisition and the entity's accounting methods preacquisition make it impracticable. |
Earnings per Share (Notes)
Earnings per Share (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | Earnings per Share Under ASC 260 , Earnings per Share , the two-class method is an earnings allocation formula that determines earnings per share for each class of common stock according to dividends declared (or accumulated) and participation rights in undistributed earnings. Under that method, basic and diluted earnings per share data are presented for each class of common stock. In applying the two-class method, we determined that undistributed earnings should be allocated equally on a per share basis between Class A and Class B common stock. Under our Certificate of Incorporation, the holders of the common stock are entitled to participate ratably, on a share-for-share basis as if all shares of common stock were of a single class, in such dividends, as may be declared by the Board of Directors. During the years ended December 31, 2016 , 2015 and 2014 , we declared and paid quarterly dividends, each in the amount of $0.21 per share on both classes of common stock. Basic earnings per share has been computed by dividing net income available to common stockholders by the weighted average number of shares of common stock outstanding during each period. Shares issued during the period and shares reacquired during the period are weighted for the portion of the period in which the shares were outstanding. Diluted earnings per share have been computed in a manner consistent with that of basic earnings per share while giving effect to all potentially dilutive common shares that were outstanding during each period. The net income available to common stockholders and weighted average number of common shares outstanding used to compute basic and diluted earnings per share for each class of common stock are as follows (in thousands, except per share amounts): Year Ended 2016 2015 2014 Distributed earnings $ 32,138 $ 31,543 $ 31,313 Undistributed earnings 24,253 19,584 15,981 Net income $ 56,391 $ 51,127 $ 47,294 Class A common stock: Basic net income available to common stockholders $ 36,885 $ 33,145 $ 30,539 Basic weighted average common shares outstanding 24,944 24,317 24,047 Basic earnings per share $ 1.48 $ 1.36 $ 1.27 Diluted net income available to common stockholders $ 36,988 $ 33,197 $ 30,571 Effect of potential exercise of stock options 202 109 70 Diluted weighted average common shares outstanding 25,146 24,426 24,117 Diluted earnings per share $ 1.47 $ 1.36 $ 1.27 Class B common stock: Basic net income available to common stockholders $ 19,506 $ 17,982 $ 16,755 Basic weighted average common shares outstanding 13,192 13,193 13,193 Basic earnings per share $ 1.48 $ 1.36 $ 1.27 Diluted net income available to common stockholders $ 19,403 $ 17,930 $ 16,723 Effect of potential exercise of stock options — — — Diluted weighted average common shares outstanding 13,192 13,193 13,193 Diluted earnings per share $ 1.47 $ 1.36 $ 1.27 For the years ended December 31, 2016 , 2015 and 2014 , options to purchase 369,300 , 1,780,222 and 2,686,196 shares, respectively, were outstanding but not included in the computation of diluted earnings per share because the options' effect would have been anti-dilutive. For the years ended December 31, 2016 , 2015 and 2014 , there were 1,045,789 shares, 284,320 shares, and 158,371 shares, respectively, issued from the exercise of stock options. |
Receivables (Notes)
Receivables (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Receivables [Abstract] | |
Receivables [Text Block] | Receivables We deliver a broad array of IT and technical services solutions under contracts with the U.S. government, state and local governments and commercial customers. The components of contract receivables are as follows (in thousands): December 31, 2016 2015 Billed receivables $ 247,114 $ 233,735 Unbilled receivables: Amounts billable 52,640 47,900 Revenues recorded in excess of funding 20,078 19,213 Retainage 8,353 11,878 Allowance for doubtful accounts (7,508 ) (8,473 ) Receivables-net $ 320,677 $ 304,253 Amounts billable consist principally of amounts to be billed within the next month. Revenues recorded in excess of funding are billable upon receipt of contractual amendments or other modifications. The retainage is billable upon completion of the contract performance and approval of final indirect expense rates by the government. Accounts receivable at December 31, 2016 are expected to be substantially collected within one year except for approximately $0.9 million , of which 93.3% is related to receivables from sales to the U.S. government. The remainder is related to receivables from contracts in which we acted as a subcontractor to other contractors. We do not believe that we have significant exposure to credit risk as accounts receivable and the related unbilled amounts are primarily due from the U.S. government. The allowance for doubtful accounts represents our estimate for exposure to compliance, contractual issues and bad debts related to prime contractors. |
Property and Equipment (Notes)
Property and Equipment (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment [Text Block] | Property and Equipment Major classes of property and equipment are summarized as follows (in thousands): December 31, 2016 2015 Furniture and equipment $ 51,806 $ 44,718 Leasehold improvements 36,439 35,733 Property and equipment-gross 88,245 80,451 Accumulated depreciation and amortization (65,124 ) (58,012 ) Property and equipment-net $ 23,121 $ 22,439 Depreciation and amortization expense related to property and equipment for the years ended December 31, 2016 , 2015 and 2014 was $7.8 million , $8.5 million and $9.0 million , respectively. |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets [Text Block] | Goodwill and Other Intangible Assets Under ASC 350 , Intangibles - Goodwill and Other , goodwill is to be reviewed at least annually for impairment and whenever events or circumstances indicate that the carrying value of goodwill may not be fully recoverable. We have elected to perform this review as of October 31st of each calendar year. In reviewing goodwill for impairment, we have the option to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the estimated fair value of a reporting unit is less than its carrying amount. If we elect to perform a qualitative assessment and determine that an impairment is more likely than not, the entity is then required to perform the existing two-step quantitative impairment test (described below), otherwise no further analysis is required. We also may elect not to perform the qualitative assessment and, instead, proceed directly to the two-step quantitative impairment test. The goodwill impairment test is a two-step process performed at the reporting unit level. The first step of the goodwill impairment test compares the fair value of a reporting unit with its carrying amount (including goodwill). If the reporting unit's fair value exceeds its carrying value, no further procedures are required. However, if the reporting unit's fair value is less than its carrying value, an impairment of goodwill may exist, requiring a second step to be performed. Step two of this test measures the amount of the impairment loss, if any. Step two of this test requires the allocation of the reporting unit's fair value to its assets and liabilities, including any unrecognized intangible assets in a hypothetical analysis that calculates the implied fair value of goodwill as if the reporting unit were being acquired in a business combination. If the implied fair value of goodwill is less than the carrying value, the difference is recorded as a goodwill impairment charge in operations. The fair values of the reporting units are determined based on a weighting of the income approach, market approach and market transaction approach. The income approach is a valuation technique in which fair value is based from forecasted future cash flow discounted at the appropriate rate of return commensurate with the risk as well as current rates of return for equity and debt capital as of the valuation date. The forecast used in our estimation of fair value was developed by management based on a contract basis, incorporating adjustments to reflect known contract and market considerations (such as reductions and uncertainty in government spending, pricing pressure and opportunities). The discount rate utilizes a risk adjusted weighted average cost of capital. The market approach is a valuation technique in which the fair value is calculated based on market prices realized in an actual arm's length transaction. The technique consists of undertaking a detailed market analysis of publicly traded companies that provides a reasonable basis for comparison to us. Valuation ratios, which relate market prices to selected financial statistics derived from comparable companies, are selected and applied to us after consideration of adjustments for financial position, growth, market, profitability and other factors. The market transaction approach is a valuation technique in which the fair value is calculated based on market prices realized in actual arm's length transactions. The technique consists of undertaking a detailed market analysis of merged and acquired companies that provides a reasonable basis for comparison to us. Valuation ratios, which relate market prices to selected financial statistics derived from comparable companies, are selected and applied to us after consideration of adjustments for financial position, growth, market, profitability and other factors. To assess the reasonableness of the calculated reporting unit fair values, we compare the sum of the reporting units' fair values to our market capitalization (per share stock price times the number of shares outstanding) and calculate an implied control premium (the excess of the sum of the reporting units' fair values over the market capitalization) and then assess the reasonableness of our implied control premium. The changes in the carrying amounts of goodwill during fiscal years 2016 and 2015 were as follows (in thousands): Goodwill Balance Goodwill at December 31, 2014 $ 851,640 Acquisitions 71,922 Divestiture (3,971 ) Goodwill at December 31, 2015 919,591 Acquisitions 36,283 Goodwill at December 31, 2016 $ 955,874 Other intangible assets consisted of the following (in thousands): December 31, 2016 December 31, 2015 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Other intangible assets: Contract and program intangible assets $ 301,082 $ 158,671 $ 142,411 $ 281,682 $ 140,163 $ 141,519 Capitalized software cost for internal use 39,332 26,815 12,517 36,170 23,522 12,648 Other 58 55 3 58 49 9 Total other intangible assets-net $ 340,472 $ 185,541 $ 154,931 $ 317,910 $ 163,734 $ 154,176 Amortization expense relating to intangible assets for the years ended December 31, 2016 , 2015 and 2014 was $21.8 million , $21.2 million and $20.4 million , respectively. We estimate that we will have the following amortization expense for the future periods indicated below (in thousands): Year ending: December 31, 2017 $ 22,105 December 31, 2018 $ 20,147 December 31, 2019 $ 17,596 December 31, 2020 $ 14,973 December 31, 2021 $ 11,606 |
Debt (Notes)
Debt (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Debt Disclosure [Abstract] | |
Debt [Text Block] | Debt Revolving Credit Facility -We maintain a credit agreement with a syndicate of lenders led by Bank of America, N.A., as sole administrative agent. The credit agreement provides for a $500 million revolving credit facility, with a $50 million letter of credit sublimit and a $30 million swing line loan sublimit. The credit agreement also includes an accordion feature that permits us to arrange with the lenders for the provision of additional commitments. The maturity date is June 13, 2019 . On May 17, 2016 , we amended the credit agreement, which among other things increased the letter of credit sublimit to $50 million . We deferred $1.8 million in debt issuance costs, cumulatively over the agreement, which are amortized over the term of the credit agreement. Borrowings under our credit agreement are collateralized by substantially all of our assets and our Material Subsidiaries (as defined in the credit agreement) and bear interest at one of the following variable rates as selected by us at the time of borrowing: a LIBOR based rate plus market spreads ( 1.25% to 2.25% based on our consolidated total leverage ratio) or Bank of America's base rate plus market spreads ( 0.25% to 1.25% based on our consolidated total leverage ratio). The aggregate annual weighted average interest rates were 3.75% and 1.88% for the years ended December 31, 2016 and 2015 , respectively. The terms of the credit agreement permit prepayment and termination of the loan commitments at any time, subject to certain conditions. The credit agreement requires us to comply with specified financial covenants, including the maintenance of certain leverage ratios and a certain consolidated coverage ratio. The credit agreement also contains various covenants, including affirmative covenants with respect to certain reporting requirements and maintaining certain business activities, and negative covenants that, among other things, may limit or impose restrictions on our ability to incur liens, incur additional indebtedness, make investments, make acquisitions and undertake certain other actions. As of, and during the fiscal years ending, December 31, 2016 and 2015 , we were in compliance with our financial covenants under the credit agreement. There was no outstanding balance on our revolving credit facility at both December 31, 2016 and 2015 . The weighted average borrowings under the revolving portion of the facility during the years ended December 31, 2016 and 2015 were $0 and $11.1 million , respectively. The maximum available borrowing under the revolving credit facility at December 31, 2016 was $476.9 million . At December 31, 2016 and 2015 , we were contingently liable under letters of credit totaling $23.1 million and $19.2 million , respectively, which reduces our availability to borrow under our revolving credit facility. 7.25% Senior Unsecured Notes -On April 15, 2014 , we paid the redemption price plus accrued and unpaid interest on our 7.25% senior unsecured notes issued on April 13, 2010 for $200.0 million , which were registered under the Securities Act of 1933. The 7.25% senior unsecured notes were redeemed at a redemption price of 103.625% of the principal amount of the outstanding 7.25% senior unsecured notes, or $207.3 million . As a result of the redemption of our 7.25% senior unsecured notes, we recorded a loss on the extinguishment of debt for $10.1 million as part of non-operating income on our consolidated statement of income during the year ended December 31, 2014. |
Commitments and Contingencies (
Commitments and Contingencies (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies [Text Block] | Commitments and Contingencies Contracts with the U.S. government including subcontracts, are subject to extensive legal and regulatory requirements and, from time-to-time, agencies of the U.S. government, in the ordinary course of business, investigate whether our operations are conducted in accordance with these requirements and the terms of the relevant contracts. U.S. government investigations of us, whether related to our U.S. government contracts or conducted for other reasons, could result in administrative, civil or criminal liabilities, including repayments, fines or penalties being imposed upon us, or could lead to suspension or debarment from future U.S. government contracting activities. Management believes it has adequately reserved for any losses that may be experienced from any investigation of which it is aware. The Defense Contract Audit Agency (DCAA) has substantially completed our incurred cost audits through 2012 , with no material adjustments. The remaining audits for 2013 through 2016 are not expected to have a material effect on our financial position, results of operations or cash flow and management believes it has adequately reserved for any losses. In the normal course of business, we are involved in certain governmental and legal proceedings, claims and disputes and have litigation pending under several suits. We believe that the ultimate resolution of these matters will not have a material effect on our financial position, results of operations or cash flows, except for the matter noted below. We are a defendant in a lawsuit filed by two former employees alleging retaliation under both the False Claims Act (FCA) and the Defense Contractor Whistleblower Protection Act (DCWPA). In November 2016, we went to trial and the jury returned a verdict in favor of both plaintiffs, finding us liable to them for retaliation under both the FCA and the DCWPA, and awarded $0.8 million in compensatory damages. As a result, these plaintiffs are also entitled to awards of (i) back pay, (ii) front pay and (iii) attorney’s fees and costs. We have challenged the jury’s verdict at the trial court level - both in terms of liability and in terms of the amount of the compensatory damages awarded. Specifically, we have asked the trial court to take the following actions: (i) grant us judgment as a matter of law and dismiss the retaliation claims under both the FCA and the DCWPA, and (ii) vacate the jury’s awards of compensatory damages. The trial court has not issued a ruling on our motion. As of December 31, 2016 , we have recorded a $4.2 million liability, based on the jury's award of compensatory damages, the stipulation for back pay damages calculation and an estimate of front pay damages and the plaintiffs' legal expenses. Because our estimated liability and a portion of our legal defense costs are covered under an insurance policy, we have recorded a corresponding receivable of $5.0 million . Legal defense costs that exceeded our coverage limits were expensed as incurred. Depending on the trial court's ruling and the outcome of any appeal, we estimate our liability range from a reduction to $0 , or an increase to $11.1 million . Any increase in our liability would be reflected as a loss in our income statement in 2017. We have $23.1 million outstanding on our letter of credit, of which $19.0 million is related to an outstanding performance bond in connection with a contract between ManTech MENA, LLC and Jadwalean International Operations and Management Company to fulfill technical support requirements for the Royal Saudi Air Force. We lease office space and equipment under long-term operating leases. A number of the leases contain renewal options and escalation clauses. Office space and equipment rent expense totaled approximately $37.4 million , $37.2 million and $42.9 million for the years ended December 31, 2016 , 2015 and 2014 , respectively. We had $11.1 million of deferred rent liabilities resulting from recording rent expense on a straight-line basis over the life of the respective lease for both the years ended December 31, 2016 and 2015 . At December 31, 2016 , aggregate future minimum rental commitments under these leases are as follows (in thousands): Total Year ending: December 31, 2017 $ 29,479 December 31, 2018 24,327 December 31, 2019 22,649 December 31, 2020 16,125 December 31, 2021 14,260 Thereafter 30,051 Total $ 136,891 |
Stockholders Equity and Stock-B
Stockholders Equity and Stock-Based Compensation (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Stockholders Equity and Stock-Based Compensation [Abstract] | |
Stockholders Equity and Stock-Based Compensation [Text Block] | Stockholders' Equity and Stock-Based Compensation Common Stock -We have 150,000,000 shares of authorized Class A common stock, par value $0.01 per share. We have 50,000,000 shares of authorized Class B common stock, par value $0.01 per share. On December 31, 2016 , there were 25,551,860 shares of Class A common stock outstanding, 244,113 shares of Class A common stock recorded as treasury stock and 13,190,745 shares of Class B common stock outstanding. Holders of Class A common stock are entitled to one vote for each share held of record and holders of Class B common stock are entitled to ten votes for each share held of record, except with respect to any “going private transaction” (generally, a transaction in which George J. Pedersen (our Chairman of the Board and Chief Executive Officer), his affiliates, his direct and indirect permitted transferees or a group, generally including Mr. Pedersen, such affiliates and permitted transferees, seek to buy all outstanding shares), as to which each share of Class A common stock and Class B common stock are entitled to one vote per share. The Class A common stock and the Class B common stock vote together as a single class on all matters submitted to a vote of stockholders, including the election of directors, except as required by law. Holders of common stock do not have cumulative voting rights in the election of directors. Stockholders are entitled to receive, when and if declared by the Board of Directors from time-to-time, such dividends and other distributions in cash, stock or property from our assets or funds legally and contractually available for such purposes subject to any dividend preferences that may be attributable to preferred stock that may be authorized. Each share of Class A common stock and Class B common stock is equal in respect of dividends and other distributions in cash, stock or property, except that in the case of stock dividends, only shares of Class A common stock will be distributed with respect to the Class A common stock and only shares of Class B common stock will be distributed with respect to Class B common stock. In no event will either Class A common stock or Class B common stock be split, divided or combined unless the other class is proportionately split, divided or combined. The shares of Class A common stock are not convertible into any other series or class of securities. Each share of Class B common stock, however, is freely convertible into one share of Class A common stock at the option of the Class B stockholder. Upon the death or permanent mental incapacity of Mr. Pedersen, all outstanding shares of Class B common stock automatically convert to Class A common stock. Preferred Stock -We are authorized to issue an aggregate of 20,000,000 shares of preferred stock, $0.01 par value per share, the terms and conditions of which are determined by our Board of Directors upon issuance. The rights, preferences and privileges of holders of our common stock are subject to, and may be adversely affected by, the rights of holders of any shares of preferred stock that we may designate and issue in the future. At December 31, 2016 and 2015 , no shares of preferred stock were outstanding and the Board of Directors currently has no plans to issue a series of preferred stock. Accounting for Stock-Based Compensation: Our 2016 Management Incentive Plan (the Plan) was designed to attract, retain and motivate key employees. The types of awards available under the Plan include stock options, restricted stock and RSUs. Equity awards granted under the Plan are settled in shares of Class A common stock. At the beginning of each year, the Plan provides that the number of shares available for issuance automatically increases by an amount equal to 1.5% of the total number of shares of Class A and Class B common stock outstanding on December 31st of the previous year. On January 2, 2017 , there were 581,139 additional shares made available for issuance under the Plan. Through December 31, 2016 , the Board of Directors has authorized the issuance of up to 13,382,296 shares under this Plan. Through December 31, 2016 , the remaining aggregate number of shares of our common stock available for future grants under the Plan was 5,896,244 . The Plan expires in March 2026 . The Plan is administered by the compensation committee of our Board of Directors, along with its delegates. Subject to the express provisions of the Plan, the committee has the Board of Directors' authority to administer and interpret the Plan, including the discretion to determine the exercise price, vesting schedule, contractual life and the number of shares to be issued. Stock Compensation Expense -For the years ended December 31, 2016 , 2015 and 2014 , we recorded $3.3 million , $4.4 million and $4.4 million of stock-based compensation expense, respectively. No compensation expense of employees with stock awards, including stock-based compensation expense, was capitalized during the periods. For the years ended December 31, 2016 , 2015 and 2014 , the total recognized tax deficiency from the exercise of stock options, vested cancellations and the vesting of restricted stock was $0.1 million , $3.0 million and $3.2 million , respectively. Stock Options- Under the Plan, we have issued stock options. A stock option granted gives the holder the right, but not the obligation to purchase a certain number of shares at a predetermined price for a specific period of time. We typically issue options that vest over three years in equal installments beginning on the first anniversary of the date of grant. Under the terms of the Plan, the contractual life of the option grants may not exceed eight years . During the years ended December 31, 2016 , 2015 and 2014 , we issued options that expire five years from the date of grant. Fair Value Determination -We have used the Black-Scholes-Merton option pricing model to determine fair value of our awards on the date of grant. We will reconsider the use of the Black-Scholes-Merton model if additional information becomes available in the future that indicates another model would be more appropriate or if grants issued in future periods have characteristics that cannot be reasonably estimated under this model. The following weighted-average assumptions were used for option grants during the years ended December 31, 2016 , 2015 and 2014 : • Volatility -The expected volatility of the options granted was estimated based upon historical volatility of our share price through weekly observations of our trading history. • Expected life of options -The expected life of options granted to employees was determined from historical exercises of the grantee population. The options had graded vesting over three years in equal installments beginning on the first anniversary of the date of the grant and a contractual term of five years . • Risk-free interest rate -The yield on zero-coupon U.S. Treasury strips was used to extrapolate a forward-yield curve. This “term structure” of future interest rates was then input into a numeric model to provide the equivalent risk-free rate to be used in the Black-Scholes-Merton model based on the expected term of the underlying grants. • Dividend yield -The Black-Scholes-Merton valuation model requires an expected dividend yield as an input. We have calculated our expected dividend yield based on an expected annual cash dividend of $0.84 per share. The following table summarizes weighted-average assumptions used in our calculations of fair value for the years ended December 31, 2016 , 2015 and 2014 : Year Ended 2016 2015 2014 Volatility 23.70 % 26.16 % 28.96 % Expected life of options 3 years 3 years 3 years Risk-free interest rate 1.10 % 1.15 % 0.96 % Dividend yield 2.88 % 3.00 % 3.00 % Stock Option Activity -The weighted-average fair value of options granted during the years ended December 31, 2016 , 2015 and 2014 , as determined under the Black-Scholes-Merton valuation model, was $4.60 , $4.59 and $4.76 , respectively. Option grants that vested during the years ended December 31, 2016 , 2015 and 2014 had a combined fair value of $2.6 million , $3.6 million and $4.4 million , respectively. The following table summarizes stock option activity for the years ended December 31, 2016 , 2015 and 2014 : Number of Shares Weighted Average Exercise Price Aggregate Intrinsic Value Stock options at December 31, 2013 3,400,120 $ 35.51 $ 4,488 Granted 946,576 $ 29.12 Exercised (158,371 ) $ 24.78 $ 754 Cancelled and expired (797,293 ) $ 41.75 Stock options at December 31, 2014 3,391,032 $ 32.76 $ 4,722 Granted 237,853 $ 30.87 Exercised (284,320 ) $ 27.51 $ 1,348 Cancelled and expired (849,255 ) $ 39.56 Stock options at December 31, 2015 2,495,310 $ 30.86 $ 3,583 Granted 199,938 $ 34.22 Exercised (1,045,789 ) $ 29.24 $ 8,858 Cancelled and expired (489,040 ) $ 37.91 Stock options at December 31, 2016 1,160,419 $ 29.93 $ 14,299 The following table summarizes non-vested stock options for the year ended December 31, 2016 : Number of Shares Weighted Average Fair Value Non-vested stock options at December 31, 2015 991,290 $ 4.74 Granted 199,938 $ 4.60 Vested (551,177 ) $ 4.78 Cancelled (77,124 ) $ 4.66 Non-vested stock options at December 31, 2016 562,927 $ 4.66 The following table includes information concerning stock options exercisable and stock options expected to vest at December 31, 2016 : Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life Aggregate Intrinsic Value Stock options vested and expected to vest 1,084,505 $ 29.76 3 years $ 13,548 Stock options exercisable 597,492 $ 28.68 2 years $ 8,109 Unrecognized compensation expense related to outstanding stock options expected to vest was $1.5 million as of December 31, 2016 , which is expected to be recognized over a weighted-average period of 2 years and will be adjusted for any future changes in estimated forfeitures. Restricted Stock -Under the Plan, we have issued restricted stock. A restricted stock award is an issuance of shares that cannot be sold or transferred by the recipient until the vesting period lapses. Restricted stock issued to members of our Board of Directors vest in one year . The related compensation expense is recognized over the service period and is based on the grant date fair value of the stock and the number of shares expected to vest. The grant date fair value of the restricted stock is equal to the closing market price of our common stock on the date of grant. Restricted Stock Activity -The following table summarizes the restricted stock activity during the years ended December 31, 2016 and 2015 : Number of Shares Weighted Average Fair Value Non-vested restricted stock at December 31, 2014 21,000 $ 30.61 Granted 21,000 $ 28.98 Vested (21,000 ) $ 30.61 Non-vested restricted stock at December 31, 2015 21,000 $ 28.98 Granted 18,000 $ 33.84 Vested (21,000 ) $ 28.98 Non-vested restricted stock at December 31, 2016 18,000 $ 33.84 RSUs- Under the Plan, we issued RSUs. RSUs are not actual shares, but rather a right to receive shares in the future. The shares are not issued and the employee cannot sell or transfer shares prior to vesting and has no voting rights until the RSUs vest. Employees who are granted RSUs do not receive dividend payments during the vesting period. The employees' RSUs will result in the delivery of shares if (a) performance criteria is met and (b) the employee remains employed, in good standing, through the date of the performance period. The performance period is 2 years . In addition, the Company granted 26,788 time-based RSUs to an officer which do not contain performance criteria (half will vest 4 years after the date of grant and the other half will vest 5 years after the date of grant). The grant date fair value of the RSUs is equal to the closing market price of our common stock on the grant date less the present value of dividends expected to be awarded during the service period. We recognize the grant date fair value of RSUs of shares we expect to issue as compensation expense ratably over the requisite service period. RSU Activity- The following table summarizes the RSU activity during the years ended December 31, 2016 and 2015 : Number of Units Weighted Average Fair Value RSUs at December 31, 2014 — $ — Granted 105,900 $ 30.85 Forfeited (12,450 ) $ 30.92 RSUs at December 31, 2015 93,450 $ 30.84 Granted 132,988 $ 29.50 Forfeited (20,100 ) $ 29.56 RSUs at December 31, 2016 206,338 $ 30.10 |
Retirement Plans (Notes)
Retirement Plans (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Compensation and Retirement Disclosure [Abstract] | |
Retirement Plans [Text Block] | Retirement Plans As of December 31, 2016 , we maintained a qualified defined contribution plan. Our qualified defined contribution plan covers substantially all employees and complies with Section 401 of the Internal Revenue Code. Under this plan, we stipulated a basic matching contribution that matches a portion of the participants' contribution based upon a defined schedule. Additionally, this plan contains a discretionary contribution component where we may contribute additional amounts based on a percentage of eligible employees' compensation. Contributions are invested by an independent investment company. The choice of investment alternatives is at the election of each participating employee. Our contributions to the plan were approximately $19.8 million , $18.5 million and $18.6 million for the years ended December 31, 2016 , 2015 and 2014 , respectively. As of December 31, 2016 , we also maintained an ESSP, a non-qualified deferred compensation plan, for certain key employees. Under this plan, eligible employees may defer up to 75% of qualified annual base compensation and 100% of bonus. In the ESSP, participant deferral accounts are credited with a rate of return based on investment elections as selected by the participant. The assets related to the ESSP are held in a rabbi trust owned by us for benefit of the participating employees. The trust investments are in the form of variable universal life insurance products, which are owned by us. These investments seek to replicate the return of the participant investment elections. Employee contributions to this plan were approximately $2.6 million , $2.8 million and $3.0 million for the years ended December 31, 2016 , 2015 and 2014 , respectively. We maintained a nonqualified supplemental defined benefit pension plan for certain retired employees of an acquired company as of December 31, 2016 . These plans were informally and partially funded beginning in 1999 through a rabbi trust. Assets held in a rabbi trust are not eligible to be included in the calculation of plan status. At both December 31, 2016 and 2015 , 100% of the rabbi trust assets were invested in a money market account with a commercial bank. All covered employees retired prior to 1998. Our benefit obligation was $1.1 million at both December 31, 2016 and 2015 . |
Income Taxes (Notes)
Income Taxes (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Income Taxes [Text Block] | Income Taxes The domestic and foreign components of income operations before income taxes and equity method investments were as follows (in thousands): Year Ended 2016 2015 2014 Domestic $ 89,988 $ 85,665 $ 79,238 Foreign 82 (311 ) (137 ) Income from operations before income taxes and equity method investments $ 90,070 $ 85,354 $ 79,101 The provision for income taxes was comprised of the following components (in thousands): Year Ended 2016 2015 2014 Current provision: Federal $ 13,454 $ 2,714 $ 10,375 State 2,394 1,247 2,499 Foreign (45 ) 77 160 15,803 4,038 13,034 Deferred provision: Federal 17,170 27,817 17,739 State 2,831 5,825 4,477 20,001 33,642 22,216 Non-current benefit resulting from allocating tax benefits directly to additional paid in capital and changes in liabilities: Federal (1,573 ) (2,568 ) (2,755 ) State (445 ) (746 ) (970 ) (2,018 ) (3,314 ) (3,725 ) Provision for income taxes $ 33,786 $ 34,366 $ 31,525 For the years ended December 31, 2016 , 2015 and 2014 , the non-current benefit for income taxes includes $1.8 million , $3.0 million and $3.3 million , respectively, arising from the cancellation of vested stock options allocated to equity and valuation differences between grant date and vesting dates on restricted stock allocated to equity and $0.2 million , $0.3 million and $0.4 million , respectively, related to liabilities for uncertain tax positions. The schedule of effective income tax rate reconciliation is as follows: Year Ended 2016 2015 2014 Statutory U.S. Federal tax rate 35.0 % 35.0 % 35.0 % Increase (decrease) in tax rate resulting from: State taxes—net of Federal benefit 3.4 % 4.8 % 5.0 % Excess executive compensation 0.7 % 0.5 % 1.3 % ESSP (0.7 )% 0.2 % (0.7 )% Section 199 deductions (0.4 )% (0.4 )% (0.6 )% Other, net (0.5 )% 0.1 % — % Effective tax rate 37.5 % 40.2 % 40.0 % We paid income taxes, net of refunds, of $18.1 million , $6.4 million and $14.3 million for the years ended December 31, 2016 , 2015 and 2014 , respectively. Deferred income taxes arise from temporary differences between the tax basis of assets and liabilities and their reported amounts in the financial statements. A summary of the tax effect of the significant components of deferred income taxes is as follows (in thousands): December 31, 2016 2015 Gross deferred tax liabilities: Goodwill and other assets $ 131,367 $ 111,156 Unbilled receivables 18,608 19,154 Property and equipment 2,657 4,554 Total 152,632 134,864 Gross deferred tax assets: Retirement and other liabilities (27,258 ) (29,000 ) Allowance for potential contract losses and other contract reserves (3,005 ) (3,429 ) Federal and state operating loss carryforwards (560 ) (400 ) Less: Valuation allowance 272 — Total (30,551 ) (32,829 ) Net deferred tax liabilities $ 122,081 $ 102,035 The tax benefits associated with nonqualified stock options and disqualifying dispositions of incentive stock options reduced the current taxes payable by $1.7 million for the year ended December 31, 2016 . These benefits were recorded as an increase to additional paid-in capital. At December 31, 2016 , we had state and foreign net operating losses of approximately $6.7 million and $1.3 million , respectively. The state net operating losses expire beginning 2018 through 2034 . We recorded a valuation allowance against the foreign net operating losses as we do not believe the loss will be fully utilized in the future. A reconciliation of the beginning and ending balances of the total amounts of gross unrecognized tax benefits is as follows (in thousands): December 31, 2016 2015 2014 Gross unrecognized tax benefits at beginning of year $ 519 $ 785 $ 1,207 Lapse in statute of limitations (285 ) (266 ) (575 ) Increases in tax positions for current year 59 — 86 Increases in tax positions for prior years — — 80 Decreases in tax positions for prior years — — (13 ) Gross unrecognized tax benefits at end of year $ 293 $ 519 $ 785 The total liability for gross unrecognized tax benefits as of December 31, 2016 , 2015 and 2014 includes $0.2 million , $0.4 million and $0.6 million , respectively, of unrecognized net tax benefits which, if ultimately recognized, would reduce our annual effective tax rate in a future period. We are subject to income taxes in the U.S., various state and foreign jurisdictions. Tax statutes and regulations within each jurisdiction are subject to interpretation and require significant judgment to apply. We are no longer subject to U.S. federal or non-U.S. income tax examinations by tax authorities for the years before 2013. We are no longer subject to U.S. state tax examinations by tax authorities for years before 2012. We believe it is reasonably possible that $0.1 million of gross unrecognized tax benefits will be settled within the next year due to expirations of statute of limitations. |
Business Segment and Geographic
Business Segment and Geographic Area Information (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Segment Reporting [Abstract] | |
Business Segment And Geographic Area Information [Text Block] | Business Segment and Geographic Area Information We have one reportable segment. We deliver a broad array of IT and technical services solutions under contracts with the U.S. government. Our U.S. government customers typically exercise independent contracting authority, and even offices or divisions within an agency or department may directly, or through a prime contractor, use our services as a separate customer so long as that customer has independent decision-making and contracting authority within its organization. Revenues from the U.S. government under prime contracts and subcontracts were approximately 97.5% , 98.9% and 98.9% of our total revenues for the years ended December 31, 2016 , 2015 and 2014 , respectively. We treat sales to U.S. government customers as sales within the U.S. regardless of where the services are performed. U.S. revenues were approximately 98.4% , 99.9% and 99.7% of our total revenues for the years ended December 31, 2016 , 2015 and 2014 , respectively. International revenues were approximately 1.6% , 0.1% and 0.3% of our total revenues for the years ended December 31, 2016 , 2015 and 2014 , respectively. Furthermore, substantially all assets from continuing operations were held in the U.S. for the years ended December 31, 2016 , 2015 and 2014 . |
Divestiture of ManTech Cyber So
Divestiture of ManTech Cyber Solutions International and Investment (MCSI) in CounterTack Inc. (CounterTack) (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Divestiture of ManTech Cyber Solutions International and Investment in CounterTack Inc. [Text Block] | Divestiture of ManTech Cyber Solutions International (MCSI) and Investment in CounterTack Inc. (CounterTack) On July 13, 2015, we divested MCSI, which was engaged in the business of providing commercial cyber products. We received consideration of preferred stock in CounterTack that has a fair value of $6.7 million . The fair value is based on the quoted price for the identical item held by another party (Level 2). We recorded a gain on the sale of $1.7 million , which is included in the other income (expense), net line item on the consolidated statement of income for the year ended December 31, 2015. We divested assets of $5.5 million and liabilities of $1.7 million . We recorded transaction costs associated with the divestiture of $1.2 million . The divestiture did not qualify to be presented as discontinued operations as it did not represent a strategic shift that would have a major effect on our operations and financial results. On July 13, 2015, we purchased additional preferred stock in CounterTack for $3.8 million . We account for our investment in CounterTack preferred stock under the cost method of accounting for investments. |
Quarterly Financial Information
Quarterly Financial Information (Unaudited) (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Information (Unaudited) [Text Block] | Quarterly Financial Information (Unaudited) The quarterly financial data reflects, in our opinion, all normal and recurring adjustments to present fairly the results of operations for such periods. Results of any one or more quarters are not necessarily indicative of annual results or continuing trends. The following tables set forth selected unaudited quarterly financial data: 2016 March 31, June 30, September 30, December 31, (in thousands, except per share data) Revenues $ 390,662 $ 401,354 $ 415,402 $ 394,178 Operating income $ 21,945 $ 24,214 $ 23,500 $ 21,304 Income from operations before income taxes and equity method investments $ 21,708 $ 23,972 $ 23,365 $ 21,025 Net income $ 13,216 $ 14,782 $ 14,664 $ 13,729 Class A common stock: Basic weighted average common shares outstanding 24,476 24,707 25,164 25,423 Basic earnings per share $ 0.35 $ 0.39 $ 0.38 $ 0.36 Diluted weighted average common shares outstanding 24,567 24,916 25,429 25,667 Diluted earnings per share $ 0.35 $ 0.39 $ 0.38 $ 0.35 Class B common stock: Basic weighted average common shares outstanding 13,192 13,192 13,192 13,191 Basic earnings per share $ 0.35 $ 0.39 $ 0.38 $ 0.36 Diluted weighted average common shares outstanding 13,192 13,192 13,192 13,191 Diluted earnings per share $ 0.35 $ 0.39 $ 0.38 $ 0.35 2015 March 31, June 30, September 30, December 31, (in thousands, except per share data) Revenues $ 370,330 $ 384,378 $ 393,008 $ 402,401 Operating income $ 19,846 $ 21,112 $ 21,120 $ 22,808 Income from operations before income taxes and equity method investments $ 19,497 $ 20,879 $ 22,353 $ 22,625 Net income $ 11,758 $ 12,450 $ 13,028 $ 13,891 Class A common stock: Basic weighted average common shares outstanding 24,206 24,325 24,341 24,393 Basic earnings per share $ 0.31 $ 0.33 $ 0.35 $ 0.37 Diluted weighted average common shares outstanding 24,359 24,426 24,406 24,513 Diluted earnings per share $ 0.31 $ 0.33 $ 0.35 $ 0.37 Class B common stock: Basic weighted average common shares outstanding 13,193 13,193 13,193 13,193 Basic earnings per share $ 0.31 $ 0.33 $ 0.35 $ 0.37 Diluted weighted average common shares outstanding 13,193 13,193 13,193 13,193 Diluted earnings per share $ 0.31 $ 0.33 $ 0.35 $ 0.37 |
Schedule II
Schedule II | 12 Months Ended |
Dec. 31, 2016 | |
Valuation and Qualifying Accounts [Abstract] | |
Valuation and Qualifying Accounts | SCHEDULE II Valuation and Qualifying Accounts Activities in our allowance accounts for the years ended December 31, 2016 , 2015 and 2014 were as follows (in thousands): Doubtful Accounts Balance at Beginning of Period Charged to Costs and Expenses Deductions Other* Balance at End of Period 2014 $ 10,036 — (165 ) (41 ) $ 9,830 2015 $ 9,830 — (552 ) (805 ) $ 8,473 2016 $ 8,473 — (215 ) (750 ) $ 7,508 * Other represents doubtful account reserves released or recorded as part of net revenues for estimated customer disallowances. Deferred Tax Asset Valuation Balance at Beginning of Period Charged to Costs and Expenses Deductions Other Balance at End of Period 2014 $ 191 — (127 ) — $ 64 2015 $ 64 — — (64 ) $ — 2016 $ — 272 — — $ 272 |
Summary of Significant Accoun24
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Principles of Consolidation [Policy Text Block] | Principles of Consolidation -Our consolidated financial statements include the accounts of ManTech International Corporation, subsidiaries we control and variable interest entities that are required to be consolidated. All intercompany accounts and transactions have been eliminated. Other investments in entities where we have significant influence, but not control, are accounted for using the equity method. |
Use of Accounting Estimates [Policy Text Block] | Use of Accounting Estimates -We prepare our consolidated financial statements in conformity with U.S. GAAP, which require management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates involve judgments with respect to, among other things, various future economic factors that are difficult to predict and are beyond the control of us. Therefore, actual amounts could differ from these estimates. |
Revenue Recognition [Policy Text Block] | Revenue Recognition -We derive the majority of our revenues from cost-plus-fixed-fee, cost-plus-award-fee, fixed-price and time-and-materials contracts. Revenues for cost-reimbursable contracts are recorded as reimbursable costs are incurred, including an estimated share of the applicable contractual fees earned. For performance-based fees under cost-reimbursable contracts, we recognize the relevant portion of the expected fee to be awarded by the customer at the time such fee can be reasonably estimated, based on factors such as our prior award experience and communications with the customer regarding performance, or upon approval by the customer. For time-and-materials contracts, revenues are recognized to the extent of billable rates times hours delivered plus materials and other reimbursable costs incurred. For long-term fixed-price contracts, revenues are recognized at a rate per unit as the units are delivered or by other methods to measure services provided. Revenues from other long-term fixed-price contracts are recognized ratably over the contract period or by other appropriate methods to measure services provided. Contract costs are expensed as incurred except for certain limited long-term contracts noted below. For long-term contracts, specifically described in the scope section of ASC 605-35 , Revenue Recognition - Construction-Type and Production-Type Contracts , we apply the percentage of completion method. Under the percentage of completion method, income is recognized at a consistent profit margin over the period of performance based on estimated profit margins at completion of the contract. This method of accounting requires estimating the total revenues and total contract cost at completion of the contract. During the performance of long-term contracts, these estimates are periodically reviewed and revisions are made as required using the cumulative catch-up method of accounting. The impact on revenues and contract profit as a result of these revisions is included in the periods in which the revisions are made. This method can result in the deferral of costs or the deferral of profit on these contracts. Because we assume the risk of performing a fixed-price contract at a set price, the failure to accurately estimate ultimate costs or to control costs during performance of the work could result, and in some instances has resulted, in reduced profits or losses for such contracts. Estimated losses on contracts at completion are recognized when identified. In certain circumstances, revenues are recognized when contract amendments have not been finalized. |
Cost of Services [Policy Text Block] | Cost of Services -Cost of services consists primarily of compensation expenses for program personnel, the fringe benefits associated with this compensation and other direct expenses incurred to complete programs, including cost of materials and subcontract efforts. |
General and Administrative Expenses [Policy Text Block] | General and Administrative Expenses- General and administrative expenses include the salaries and wages, plus associated fringe benefits of our employees not performing work directly for customers, and associated facilities costs. Among the functions covered by these costs are corporate business development, bid and proposal, contracts administration, finance and accounting, legal, corporate governance and executive and senior management. In addition, we include stock-based compensation, as well as depreciation and amortization expenses related to the general and administrative function. We recognize interest related to unrecognized tax benefits within interest expense and penalties related to unrecognized tax benefits in general and administrative expenses. We classify indirect costs incurred as cost of services and general and administrative expenses in the same manner as such costs are defined in our disclosure statements under U.S. Government Cost Accounting Standards. |
Cash and Cash Equivalents [Policy Text Block] | Cash and Cash Equivalents -For the purpose of reporting cash flows, cash and cash equivalents include cash on hand, amounts due from banks and short-term investments with maturity dates of three months or less at the date of purchase. Due to the short maturity of cash equivalents, the carrying value on our consolidated balance sheets approximates fair value. |
Property and Equipment [Policy Text Block] | Property and Equipment -Property and equipment are recorded at original cost to us. Upon sale or retirement, the costs and related accumulated depreciation or amortization are eliminated from the respective accounts and any resulting gain or loss is included in income. Maintenance and repairs are charged to expense as incurred. |
Depreciation and Amortization Method [Policy Text Block] | Depreciation and Amortization Method -Furniture and office equipment are depreciated using the straight-line method with estimated useful lives ranging from one to seven years . Leasehold improvements are amortized using the straight-line method over the shorter of the asset's useful life or the term of the lease. |
Goodwill [Policy Text Block] | Goodwill -The purchase price of an acquired business is allocated to the tangible assets, financial assets and separately recognized intangible assets acquired less liabilities assumed based upon their respective fair values, with the excess recorded as goodwill. We review goodwill at least annually for impairment, or whenever events or circumstances indicate that the carrying value of long-lived assets may not be fully recoverable. |
Other Intangible Assets [Policy Text Block] | Other Intangible Assets -Contract rights and other intangible assets are amortized primarily using the pattern of benefits method over periods ranging from one to twenty-five years . We account for the cost of computer software developed or obtained for internal use in accordance with ASC 350-985 , Intangibles - Goodwill and Other - Software . These capitalized software costs are included in other intangible assets, net. We account for software development costs related to software products for sale, lease or otherwise marketed in accordance with ASC 985-20 , Software - Costs of Software to Be Sold, Leased, or Marketed . For projects fully funded by us, development costs are capitalized from the point of demonstrated technological feasibility until the point in time that the product is available for general release to customers. Once the product is available for general release, capitalized costs are amortized based on units sold or on a straight-line basis over a five -year period or other such shorter period as may be required. |
Impairment of Long-Lived Assets [Policy Text Block] | Impairment of Long-Lived Assets- Whenever events or changes in circumstances indicate that the carrying amount of long-lived assets may not be fully recoverable, we evaluate the probability that future undiscounted net cash flows will be less than the carrying amount of the assets. If any impairment were indicated as a result of this review, we would recognize a loss based on the amount by which the carrying amount exceeds the estimated fair value. |
Employee Supplemental Savings Plan Assets [Policy Text Block] | Employee Supplemental Savings Plan (ESSP) Assets -We maintain several non-qualified defined contribution supplemental retirement plans for certain key employees that are accounted for in accordance with ASC 710-10-05 , Compensation - General - Deferred Compensation - Rabbi Trust , as the underlying assets are held in rabbi trusts with investments directed by the respective employee. A rabbi trust is a grantor trust generally set up to fund compensation for a select group of management and the assets of this trust are available to satisfy the claims of general creditors in the event of bankruptcy of us. The assets held by the rabbi trusts are recorded at cash surrender value in our consolidated financial statements as ESSP assets with a related liability to employees recorded as a deferred compensation liability in accrued retirement. |
Billings In Excess of Revenue Earned [Policy Text Block] | Billings In Excess of Revenue Earned -We receive advances and milestone payments from customers that exceed the revenues earned to date. We classify such items as current liabilities. |
Stock-based Compensation [Policy Text Block] | Stock-based Compensation -We account for stock-based compensation in accordance with ASC 718 , Compensation - Stock Compensation , which requires the use of a valuation model to calculate the fair value of stock-based awards. We have elected to use the Black-Scholes-Merton pricing model to determine fair value on the dates of grant. The fair value is included in operating expenses or capitalized, as appropriate, straight-line over the period in which service is provided in exchange for the award. The grant date fair value of the restricted stock is equal to the closing market price of our common stock on the date of grant. The compensation expense for restricted stock is recognized over the service period and is based on the grant date fair value of the stock and the number of shares expected to vest. The grant date fair value of the restricted stock unit (RSU) is equal to the closing market price of our common stock on the grant date less the present value of dividends expected to be awarded during the service period. We recognize the grant date fair value of RSUs of shares we expect to issue as compensation expense ratably over the requisite service period. |
Income Taxes [Policy Text Block] | Income Taxes -We account for income taxes in accordance with ASC 740 , Income Taxes . Under this method, deferred income taxes are determined based on the estimated future tax effects of differences between the financial statement and tax bases of assets and liabilities given the provisions of enacted tax laws. Deferred income tax provisions and benefits are based on changes to the assets or liabilities from year-to-year. In providing for deferred taxes, we consider tax regulations of the jurisdictions in which we operate, estimates of future taxable income and available tax planning strategies. If tax regulations, operating results or the ability to implement tax-planning strategies vary, adjustments to the carrying value of deferred tax assets and liabilities may be required. Valuation allowances are recorded related to deferred tax assets based on the “more likely than not” criteria. We recognize the financial statement benefit of a tax position only after determining that the relevant tax authority would “more likely than not” sustain the position following an audit. For tax positions meeting the “more likely than not” threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. |
Foreign-Currency Translation [Policy Text Block] | Foreign-Currency Translation -All assets and liabilities of foreign subsidiaries are translated into U.S. dollars at fiscal year-end exchange rates. Income and expense items are translated at average monthly exchange rates prevailing during the fiscal year. The resulting translation adjustments are recorded as a component of accumulated other comprehensive income (loss). |
Comprehensive Income (Loss) [Policy Text Block] | Comprehensive Income (Loss) -Comprehensive income (loss) consists of net income; translation adjustments, net of tax; and actuarial gain (loss) on defined benefit pension plan, net of tax. |
Fair Value of Financial Instruments [Policy Text Block] | Fair Value of Financial Instruments -The carrying value of our cash and cash equivalents, accounts receivable, accounts payable and accrued expenses approximate their fair value because of the short-term nature of these amounts. |
Variable Interest Entities [Policy Text Block] | Variable Interest Entities (VIEs) -We determine whether we have a controlling financial interest in a VIE. The reporting entity with a variable interest or interest that provides the reporting entity with a controlling financial interest in a VIE will have both (a) the power to direct the activities of a VIE that most significantly impact the VIE's economic performance and (b) the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. We have one entity that has been consolidated as a VIE. The purpose of the entity is to perform on certain U.S. Navy contracts. The maximum amount of loss we are exposed to as of December 31, 2016 was not material to our consolidated financial statements. |
Investments [Policy Text Block] | Investments -Investments where we have the ability to exercise significant influence, but we do not control, are accounted for under the equity method of accounting and are included in other assets on our consolidated balance sheets. Significant influence typically exists if we have a 20% to 50% ownership interest in the investee. Under this method of accounting, our share of the net earnings or losses of the investee is included in equity in earnings or losses of unconsolidated subsidiaries on our consolidated statement of income and loss. Investments where we have less than 20% ownership interest in the investee and lack the ability to exercise significant influence are accounted for under the cost method. Under the cost method, we recognize our investment in the stock of an investee as an asset. The investment is measured initially at cost. We recognize as income dividends received that are distributed from net accumulated earnings. Dividends received in excess of earnings are considered a return of investment and are recorded as reductions of costs of the investment. Impairment is assessed at the individual investment level. An investment is impaired if the fair value of the investment is less than its costs. If it is determined that the impairment is other than temporary, then an impairment loss is recognized in earnings. The fair value of the investment would become the new cost basis of the investment and will not be adjusted for subsequent recoveries in fair value. |
ASUs [Policy Text Block] | ASUs On January 26, 2017, the Financial Accounting Standards Board (FASB) has issued ASU 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment , which simplifies the manner in which an entity is required to test goodwill for impairment by eliminating Step 2 from the goodwill impairment test. Step 2 measures a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount of that goodwill. In computing the implied fair value of goodwill under Step 2, an entity, prior to the amendments in ASU 2017-04, had to perform procedures to determine the fair value at the impairment testing date of its assets and liabilities, including unrecognized assets and liabilities, in accordance with the procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. However, under the amendments in this ASU, an entity should (1) perform its annual or interim goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount and (2) recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value, with the understanding that the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Additionally, ASU 2017-04 removes the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment and, if it fails such qualitative test, to perform Step 2 of the goodwill impairment test. Finally, this ASU amends the Overview and Background sections of the Accounting Standards Codification as part of the FASB’s initiative to unify and improve such sections across Topics and Subtopics. Public entities that are SEC filers should adopt the amendments in this ASU prospectively for their annual, or any interim, goodwill impairment tests in fiscal years beginning after December 15, 2019. Note that early adoption is permitted for all entities for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. We are currently evaluating the effect of adoption on our consolidated financial statements. On January 5, 2017, the FASB has issued ASU 2017-01, Business Combinations (Topic 805)—Clarifying the Definition of a Business , which clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. Under the current implementation guidance in Topic 805, there are three elements of a business: inputs, processes and outputs. While an integrated set of assets and activities (collectively, a “set”) that is a business usually has outputs, outputs are not required to be present. Additionally, all of the inputs and processes that a seller uses in operating a set are not required if market participants can acquire the set and continue to produce outputs. The amendments in ASU 2017-01 provide a screen to determine when a set is not a business. The screen requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. This screen reduces the number of transactions that need to be further evaluated. If, however, the screen is not met, then the amendments in this ASU (1) require that to be considered a business, a set must include, at a minimum, an input and a substantive process that together significantly contribute to the ability to create output and (2) remove the evaluation of whether a market participant could replace missing elements. Finally, the amendments in this ASU narrow the definition of the term “output” so that the term is consistent with the manner in which outputs are described in Topic 606. The amendments are effective for annual periods beginning after December 15, 2017, including interim periods within those periods, with early adoption permissible. We are currently evaluating the effect of adoption on our consolidated financial statements. On August 26, 2016, the FASB issued ASU 2016-15— Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments . This ASU addresses the following eight specific cash flow issues: debt prepayment or debt extinguishment costs; settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing; contingent consideration payments made after a business combination; proceeds from the settlement of insurance claims; proceeds from the settlement of corporate-owned life insurance policies (including bank-owned life insurance policies); distributions received from equity method investees; beneficial interests in securitization transactions; and separately identifiable cash flows and application of the predominance principle. The amendments in this ASU apply to all entities, including both business entities and not-for-profit entities that are required to present a statement of cash flows under Topic 230. The amendments in ASU 2016-15 become effective for fiscal years that start after December 15, 2017. We do not plan to early adopt this ASU. We plan to apply it retrospectively to all periods presented in our quarterly and annual reports on Form 10-Q and Form 10-K. We plan to apply the equity method of accounting for applicable investments. Therefore, we will make an accounting policy election to classify distributions received from equity method investees using the cumulative earnings approach. Distributions received are considered returns on investment and classified as cash inflows from operating activities, unless the investor’s cumulative distributions received less distributions received in prior periods that were determined to be returns of investment exceed cumulative equity in earnings recognized by the investor (as adjusted for amortization of basis differences). When such an excess occurs, the current-period distribution up to this excess is considered a return of investment and should be classified as cash inflows from investing. We do not expect this ASU to have a material effect on our consolidated financial statements. On March 30, 2016, the FASB issued ASU 2016-09— Compensation-Stock Compensation (Topic 718) . The FASB is issuing this ASU as part of its Simplification Initiative. The amendments in this ASU affect all entities that issue share-based payment awards to their employees. The areas for simplification in this ASU involve several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liability and classification on the statement of cash flows. Specifically, all excess tax benefits and tax deficiencies should be recognized as income tax expense or benefit in the income statement. The tax effects of exercised or vested awards should be treated as discrete items in the reporting period in which they occur. An entity also should recognize excess tax benefits regardless of whether the benefit reduces taxes payable in the current period. Excess tax benefits should be classified along with other income tax cash flows as an operating activity. An entity can make an entity-wide accounting policy election to either estimate the number of awards that are expected to vest or account for forfeitures when they occur. The threshold to qualify for equity classifications permits withholding up to the maximum statutory tax rates in the applicable jurisdiction. Cash paid by an employer when directly withholding shares for tax-withholding purposes should be classified as a financing activity. For public business entities, the amendments in this ASU are effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Early adoption is permitted for any entity in any interim or annual period. Amendments related to the timing of when excess tax benefits are recognized, minimum statutory withholding requirements, forfeitures and intrinsic value should be applied using a modified retrospective transition method by means of a cumulative-effect adjustment to equity as of the beginning of the period in which the guidance is adopted. Amendments related to the presentation of employee taxes paid on the statement of cash flows when an employer withholds shares to meet the minimum statutory withholding requirement should be applied retrospectively. Amendments requiring recognition of excess tax benefits and tax deficiencies in the income statement and the practical expedient for estimating expected term should be applied prospectively. An entity may elect to apply the amendments related to the presentation of excess tax benefits on the statement of cash flows using either a prospective transition method or a retrospective transition method. We are adopting this ASU on January 1, 2017. We will be accounting for forfeitures as they occur, as such we will record a cumulative-effect adjustment to retained earnings for $0.2 million . While we do not expect this ASU to have a material impact on our consolidated financial statements, it will introduce an additional element of volatility in our effective tax rate. On March 15, 2016, the FASB issued ASU 2016-07— Investments—Equity Method and Joint Ventures (Topic 323). This ASU simplifies the accounting for equity method investments. The amendments in this ASU eliminate the requirement in Topic 323 that an entity retroactively adopt the equity method of accounting if an investment qualifies for use of the equity method as a result of an increase in the level of ownership or degree of influence. The amendments require that the equity method investor add the cost of acquiring the additional interest in the investee to the current basis of the investor’s previously held interest and adopt the equity method of accounting as of the date the investment becomes qualified for equity method accounting. The amendments in this ASU affect all entities that have an investment that becomes qualified for the equity method of accounting as a result of an increase in the level of ownership interest or degree of influence. The amendments in this ASU are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. The amendments should be applied prospectively upon their effective date to increases in the level of ownership interest or degree of influence that result in the adoption of the equity method. Earlier application is permitted. No additional disclosures are required at transition. We do not expect this ASU to have a material effect on our consolidated financial statements. On February 25, 2016, the FASB issued ASU 2016-02— Leases (Topic 842) . The amendments in this ASU create Topic 842 , Leases , and supersede the leases requirements in Topic 840, Leases . Topic 842 specifies the accounting for leases. The objective of Topic 842 is to establish the principles that lessees and lessors should apply to report useful information to users of financial statements about the amount, timing and uncertainty of cash flows arising from a lease. This ASU is effective for public entities for annual periods after December 15, 2018, and interim periods therein. Early adoption is permitted for all entities. We are currently evaluating methods of adoption as well as the effect on our consolidated financial statements. However, it is expected to increase total assets and total liabilities for current operating leases that are currently recorded off balance sheet. On May 28, 2014, the FASB issued ASU 2014-09— Revenue from Contracts with Customers. ASU 2014-09 supersedes existing revenue recognition guidance, including ASC 605-35 , Revenue Recognition - Construction-Type and Production-Type Contracts . ASU 2014-09 outlines a single set of comprehensive principles for recognizing revenue under GAAP. Among other things, it requires companies to identify contractual performance obligations and determine whether revenue should be recognized at a point in time or over time. These concepts, as well as other aspects of ASU 2014-09, may change the method and/or timing of revenue recognition for certain of our contracts. ASU 2014-09 may be applied either retrospectively or through the use of a modified-retrospective method. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date. The amendments in ASU 2015-14 defer the effective date of ASU 2014-09 for all entities by one year. Public business entities should apply the guidance in ASU 2014-09 to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. Several related ASUs have been issued since the issuance of ASU 2014-09. These ASUs, which modify certain sections of ASU 2014-09, are intended to promote a more consistent interpretation and application of the principles outlined in the standard. Also these ASUs provide technical corrections and updates intended to clarify ASU 2014-09, which we do not expect to have a significant impact on the application of ASU 2014-09. The adoption of ASU 2014-09 will impact our policies, controls, business processes and information systems. To prepare for the changes in this guidance, we developed a plan for adoption. Based on our plan, we commenced an assessment in 2016 on the impacts of this guidance on a representative sample of our existing contract population. The sample contracts selected covered more than 20% of our existing revenue base and included contracts from all of our various contract types. A majority of the contracts we tested were not impacted by the new guidance. For contracts that were impacted, we identified two primary differences. First, the determination of performance obligations under this ASU will lead to a different unit of accounting then we are currently applying. Second, for contracts where we are recognizing revenue ratably over the contract term, we will reassess whether the contract, or performance obligation, meets the definition of a "stand ready to perform" obligation. Those contracts that do not meet the "stand ready to perform" definition will be transitioned to a percentage of completion model primarily based on cost incurred. The impact of these changes will produce a more consistent gross margin period-to-period as the obligations are satisfied. We are currently developing a detailed implementation plan for 2017, which includes, among other things, an update to our policies, development of disclosures, updates to our controls and application of the guidance across our contract population. We are still assessing the quantitative impact to our consolidated financial statements as well as a transition method. Other ASUs effective after December 31, 2016 are not expected to have a material effect on our consolidated financial statements. |
Acquisitions (Tables)
Acquisitions (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Edaptive Systems LLC [Member] | |
Business Combination Segment Allocation [Line Items] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The following table represents the preliminary purchase price allocation for Edaptive, as we are still in the process of reviewing the fair value of the assets acquired and liabilities assumed and determining the closing working capital adjustment (in thousands): Cash and cash equivalents $ 282 Receivables 10,813 Prepaid expenses and other 144 Goodwill 6,193 Other intangible assets 1,689 Property and equipment 502 Other assets 116 Accounts payable and accrued expenses (4,267 ) Accrued salaries and related expenses (2,316 ) Net assets acquired and liabilities assumed $ 13,156 |
Oceans Edge, Inc, Cyber Division [Member] | |
Business Combination Segment Allocation [Line Items] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The following table represents the purchase price allocation for OEC (in thousands): Receivables $ 138 Goodwill 30,090 Other intangible assets 18,000 Property and equipment 69 Accounts payable and accrued expenses (29 ) Accrued salaries and related expenses (586 ) Net assets acquired and liabilities assumed $ 47,682 |
Knowledge Consulting Group [Member] | |
Business Combination Segment Allocation [Line Items] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The following table represents the purchase price allocation for KCG (in thousands): Cash and cash equivalents $ 658 Receivables 6,532 Prepaid expenses and other 460 Goodwill 47,487 Other intangible assets 13,219 Property and equipment 1,419 Investments 15 Other assets 31 Accounts payable and accrued expenses (1,269 ) Accrued salaries and related expenses (336 ) Billings in excess of revenue earned (2 ) Net assets acquired and liabilities assumed $ 68,214 |
Welkin Associates, Ltd. [Member] | |
Business Combination Segment Allocation [Line Items] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The following table represents the purchase price allocation for Welkin (in thousands): Receivables $ 3,901 Prepaid expenses and other 141 Goodwill 24,436 Other intangible assets 6,350 Property and equipment 100 Accounts payable and accrued expenses (436 ) Accrued salaries and related expenses (492 ) Net assets acquired and liabilities assumed $ 34,000 |
7Delta Inc. [Member] | |
Business Combination Segment Allocation [Line Items] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The following table represents the purchase price allocation for 7Delta (in thousands): Cash and cash equivalents $ 1,408 Receivables 9,664 Prepaid expenses and other 175 Goodwill 69,967 Other intangible assets 7,762 Property and equipment 597 Other assets 39 Accounts payable and accrued expenses (6,617 ) Accrued salaries and related expenses (1,399 ) Billings in excess of revenue earned (229 ) Net assets acquired and liabilities assumed $ 81,367 |
Allied Technology Group Inc [Member] | |
Business Combination Segment Allocation [Line Items] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The following table represents the purchase price allocation for ATG (in thousands): Cash and cash equivalents $ 712 Receivables 11,670 Prepaid expenses and other 1,432 Contractual inventory 1 Goodwill 28,806 Other intangible assets 7,071 Property and equipment 899 Other assets 111 Accounts payable and accrued expenses (3,399 ) Accrued salaries and related expenses (2,155 ) Billings in excess of revenue earned (148 ) Net assets acquired and liabilities assumed $ 45,000 |
Earnings per Share (Tables)
Earnings per Share (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | The net income available to common stockholders and weighted average number of common shares outstanding used to compute basic and diluted earnings per share for each class of common stock are as follows (in thousands, except per share amounts): Year Ended 2016 2015 2014 Distributed earnings $ 32,138 $ 31,543 $ 31,313 Undistributed earnings 24,253 19,584 15,981 Net income $ 56,391 $ 51,127 $ 47,294 Class A common stock: Basic net income available to common stockholders $ 36,885 $ 33,145 $ 30,539 Basic weighted average common shares outstanding 24,944 24,317 24,047 Basic earnings per share $ 1.48 $ 1.36 $ 1.27 Diluted net income available to common stockholders $ 36,988 $ 33,197 $ 30,571 Effect of potential exercise of stock options 202 109 70 Diluted weighted average common shares outstanding 25,146 24,426 24,117 Diluted earnings per share $ 1.47 $ 1.36 $ 1.27 Class B common stock: Basic net income available to common stockholders $ 19,506 $ 17,982 $ 16,755 Basic weighted average common shares outstanding 13,192 13,193 13,193 Basic earnings per share $ 1.48 $ 1.36 $ 1.27 Diluted net income available to common stockholders $ 19,403 $ 17,930 $ 16,723 Effect of potential exercise of stock options — — — Diluted weighted average common shares outstanding 13,192 13,193 13,193 Diluted earnings per share $ 1.47 $ 1.36 $ 1.27 |
Receivables (Tables)
Receivables (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Receivables [Abstract] | |
Schedule of Contract Receivables [Table Text Block] | The components of contract receivables are as follows (in thousands): December 31, 2016 2015 Billed receivables $ 247,114 $ 233,735 Unbilled receivables: Amounts billable 52,640 47,900 Revenues recorded in excess of funding 20,078 19,213 Retainage 8,353 11,878 Allowance for doubtful accounts (7,508 ) (8,473 ) Receivables-net $ 320,677 $ 304,253 |
Property and Equipment (Tables)
Property and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment [Table Text Block] | Major classes of property and equipment are summarized as follows (in thousands): December 31, 2016 2015 Furniture and equipment $ 51,806 $ 44,718 Leasehold improvements 36,439 35,733 Property and equipment-gross 88,245 80,451 Accumulated depreciation and amortization (65,124 ) (58,012 ) Property and equipment-net $ 23,121 $ 22,439 |
Goodwill and Other Intangible29
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Goodwill [Table Text Block] | The changes in the carrying amounts of goodwill during fiscal years 2016 and 2015 were as follows (in thousands): Goodwill Balance Goodwill at December 31, 2014 $ 851,640 Acquisitions 71,922 Divestiture (3,971 ) Goodwill at December 31, 2015 919,591 Acquisitions 36,283 Goodwill at December 31, 2016 $ 955,874 |
Schedule of Other Intangible Assets [Table Text Block] | Other intangible assets consisted of the following (in thousands): December 31, 2016 December 31, 2015 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Other intangible assets: Contract and program intangible assets $ 301,082 $ 158,671 $ 142,411 $ 281,682 $ 140,163 $ 141,519 Capitalized software cost for internal use 39,332 26,815 12,517 36,170 23,522 12,648 Other 58 55 3 58 49 9 Total other intangible assets-net $ 340,472 $ 185,541 $ 154,931 $ 317,910 $ 163,734 $ 154,176 |
Schedule of Other Intangible Assets, Future Amortization Expense [Table Text Block] | We estimate that we will have the following amortization expense for the future periods indicated below (in thousands): Year ending: December 31, 2017 $ 22,105 December 31, 2018 $ 20,147 December 31, 2019 $ 17,596 December 31, 2020 $ 14,973 December 31, 2021 $ 11,606 |
Commitments and Contingencies30
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | At December 31, 2016 , aggregate future minimum rental commitments under these leases are as follows (in thousands): Total Year ending: December 31, 2017 $ 29,479 December 31, 2018 24,327 December 31, 2019 22,649 December 31, 2020 16,125 December 31, 2021 14,260 Thereafter 30,051 Total $ 136,891 |
Stockholders Equity and Stock31
Stockholders Equity and Stock-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | The following table summarizes weighted-average assumptions used in our calculations of fair value for the years ended December 31, 2016 , 2015 and 2014 : Year Ended 2016 2015 2014 Volatility 23.70 % 26.16 % 28.96 % Expected life of options 3 years 3 years 3 years Risk-free interest rate 1.10 % 1.15 % 0.96 % Dividend yield 2.88 % 3.00 % 3.00 % |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | The following table summarizes stock option activity for the years ended December 31, 2016 , 2015 and 2014 : Number of Shares Weighted Average Exercise Price Aggregate Intrinsic Value Stock options at December 31, 2013 3,400,120 $ 35.51 $ 4,488 Granted 946,576 $ 29.12 Exercised (158,371 ) $ 24.78 $ 754 Cancelled and expired (797,293 ) $ 41.75 Stock options at December 31, 2014 3,391,032 $ 32.76 $ 4,722 Granted 237,853 $ 30.87 Exercised (284,320 ) $ 27.51 $ 1,348 Cancelled and expired (849,255 ) $ 39.56 Stock options at December 31, 2015 2,495,310 $ 30.86 $ 3,583 Granted 199,938 $ 34.22 Exercised (1,045,789 ) $ 29.24 $ 8,858 Cancelled and expired (489,040 ) $ 37.91 Stock options at December 31, 2016 1,160,419 $ 29.93 $ 14,299 |
Schedule of Non-Vested Share Activity [Table Text Block] | The following table summarizes non-vested stock options for the year ended December 31, 2016 : Number of Shares Weighted Average Fair Value Non-vested stock options at December 31, 2015 991,290 $ 4.74 Granted 199,938 $ 4.60 Vested (551,177 ) $ 4.78 Cancelled (77,124 ) $ 4.66 Non-vested stock options at December 31, 2016 562,927 $ 4.66 |
Stock Options Exercisable And Expected To Vest [Table Text Block] | The following table includes information concerning stock options exercisable and stock options expected to vest at December 31, 2016 : Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life Aggregate Intrinsic Value Stock options vested and expected to vest 1,084,505 $ 29.76 3 years $ 13,548 Stock options exercisable 597,492 $ 28.68 2 years $ 8,109 |
Restricted Stock [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Schedule of Share-based Compensation, Restricted Stock Activity [Table Text Block] | The following table summarizes the restricted stock activity during the years ended December 31, 2016 and 2015 : Number of Shares Weighted Average Fair Value Non-vested restricted stock at December 31, 2014 21,000 $ 30.61 Granted 21,000 $ 28.98 Vested (21,000 ) $ 30.61 Non-vested restricted stock at December 31, 2015 21,000 $ 28.98 Granted 18,000 $ 33.84 Vested (21,000 ) $ 28.98 Non-vested restricted stock at December 31, 2016 18,000 $ 33.84 |
Restricted Stock Units (RSUs) [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Schedule of Share-based Compensation, Restricted Stock Activity [Table Text Block] | The following table summarizes the RSU activity during the years ended December 31, 2016 and 2015 : Number of Units Weighted Average Fair Value RSUs at December 31, 2014 — $ — Granted 105,900 $ 30.85 Forfeited (12,450 ) $ 30.92 RSUs at December 31, 2015 93,450 $ 30.84 Granted 132,988 $ 29.50 Forfeited (20,100 ) $ 29.56 RSUs at December 31, 2016 206,338 $ 30.10 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | The domestic and foreign components of income operations before income taxes and equity method investments were as follows (in thousands): Year Ended 2016 2015 2014 Domestic $ 89,988 $ 85,665 $ 79,238 Foreign 82 (311 ) (137 ) Income from operations before income taxes and equity method investments $ 90,070 $ 85,354 $ 79,101 |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | The provision for income taxes was comprised of the following components (in thousands): Year Ended 2016 2015 2014 Current provision: Federal $ 13,454 $ 2,714 $ 10,375 State 2,394 1,247 2,499 Foreign (45 ) 77 160 15,803 4,038 13,034 Deferred provision: Federal 17,170 27,817 17,739 State 2,831 5,825 4,477 20,001 33,642 22,216 Non-current benefit resulting from allocating tax benefits directly to additional paid in capital and changes in liabilities: Federal (1,573 ) (2,568 ) (2,755 ) State (445 ) (746 ) (970 ) (2,018 ) (3,314 ) (3,725 ) Provision for income taxes $ 33,786 $ 34,366 $ 31,525 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | The schedule of effective income tax rate reconciliation is as follows: Year Ended 2016 2015 2014 Statutory U.S. Federal tax rate 35.0 % 35.0 % 35.0 % Increase (decrease) in tax rate resulting from: State taxes—net of Federal benefit 3.4 % 4.8 % 5.0 % Excess executive compensation 0.7 % 0.5 % 1.3 % ESSP (0.7 )% 0.2 % (0.7 )% Section 199 deductions (0.4 )% (0.4 )% (0.6 )% Other, net (0.5 )% 0.1 % — % Effective tax rate 37.5 % 40.2 % 40.0 % |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | A summary of the tax effect of the significant components of deferred income taxes is as follows (in thousands): December 31, 2016 2015 Gross deferred tax liabilities: Goodwill and other assets $ 131,367 $ 111,156 Unbilled receivables 18,608 19,154 Property and equipment 2,657 4,554 Total 152,632 134,864 Gross deferred tax assets: Retirement and other liabilities (27,258 ) (29,000 ) Allowance for potential contract losses and other contract reserves (3,005 ) (3,429 ) Federal and state operating loss carryforwards (560 ) (400 ) Less: Valuation allowance 272 — Total (30,551 ) (32,829 ) Net deferred tax liabilities $ 122,081 $ 102,035 |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | A reconciliation of the beginning and ending balances of the total amounts of gross unrecognized tax benefits is as follows (in thousands): December 31, 2016 2015 2014 Gross unrecognized tax benefits at beginning of year $ 519 $ 785 $ 1,207 Lapse in statute of limitations (285 ) (266 ) (575 ) Increases in tax positions for current year 59 — 86 Increases in tax positions for prior years — — 80 Decreases in tax positions for prior years — — (13 ) Gross unrecognized tax benefits at end of year $ 293 $ 519 $ 785 |
Quarterly Financial Informati33
Quarterly Financial Information (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Information [Table Text Block] | The following tables set forth selected unaudited quarterly financial data: 2016 March 31, June 30, September 30, December 31, (in thousands, except per share data) Revenues $ 390,662 $ 401,354 $ 415,402 $ 394,178 Operating income $ 21,945 $ 24,214 $ 23,500 $ 21,304 Income from operations before income taxes and equity method investments $ 21,708 $ 23,972 $ 23,365 $ 21,025 Net income $ 13,216 $ 14,782 $ 14,664 $ 13,729 Class A common stock: Basic weighted average common shares outstanding 24,476 24,707 25,164 25,423 Basic earnings per share $ 0.35 $ 0.39 $ 0.38 $ 0.36 Diluted weighted average common shares outstanding 24,567 24,916 25,429 25,667 Diluted earnings per share $ 0.35 $ 0.39 $ 0.38 $ 0.35 Class B common stock: Basic weighted average common shares outstanding 13,192 13,192 13,192 13,191 Basic earnings per share $ 0.35 $ 0.39 $ 0.38 $ 0.36 Diluted weighted average common shares outstanding 13,192 13,192 13,192 13,191 Diluted earnings per share $ 0.35 $ 0.39 $ 0.38 $ 0.35 2015 March 31, June 30, September 30, December 31, (in thousands, except per share data) Revenues $ 370,330 $ 384,378 $ 393,008 $ 402,401 Operating income $ 19,846 $ 21,112 $ 21,120 $ 22,808 Income from operations before income taxes and equity method investments $ 19,497 $ 20,879 $ 22,353 $ 22,625 Net income $ 11,758 $ 12,450 $ 13,028 $ 13,891 Class A common stock: Basic weighted average common shares outstanding 24,206 24,325 24,341 24,393 Basic earnings per share $ 0.31 $ 0.33 $ 0.35 $ 0.37 Diluted weighted average common shares outstanding 24,359 24,426 24,406 24,513 Diluted earnings per share $ 0.31 $ 0.33 $ 0.35 $ 0.37 Class B common stock: Basic weighted average common shares outstanding 13,193 13,193 13,193 13,193 Basic earnings per share $ 0.31 $ 0.33 $ 0.35 $ 0.37 Diluted weighted average common shares outstanding 13,193 13,193 13,193 13,193 Diluted earnings per share $ 0.31 $ 0.33 $ 0.35 $ 0.37 |
Description of the Business (Na
Description of the Business (Narrative) (Details) | 12 Months Ended |
Dec. 31, 2016contractsfederalagenices | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Number of Federal Agencies | federalagenices | 50 |
Number of Contracts | contracts | 1,000 |
Summary of Significant Accoun35
Summary of Significant Accounting Policies (Narrative) (Details) $ in Millions | 12 Months Ended | |
Dec. 31, 2016Entities | Jan. 01, 2017USD ($) | |
Accounting Policies [Line Items] | ||
More Likely Than Not Threshold | 50.00% | |
Number of Consolidated Variable Interest Entities | Entities | 1 | |
Minimum [Member] | ||
Accounting Policies [Line Items] | ||
Property, Plant and Equipment, Useful Life | 1 year | |
Equity Method Investment, Ownership Percentage | 20.00% | |
Maximum [Member] | ||
Accounting Policies [Line Items] | ||
Maturity Threshold For Including In Cash And Cash Equivalent | 3 months | |
Property, Plant and Equipment, Useful Life | 7 years | |
Equity Method Investment, Ownership Percentage | 50.00% | |
Other Intangible Assets [Member] | Minimum [Member] | ||
Accounting Policies [Line Items] | ||
Finite-Lived Intangible Asset, Useful Life | 1 year | |
Other Intangible Assets [Member] | Maximum [Member] | ||
Accounting Policies [Line Items] | ||
Finite-Lived Intangible Asset, Useful Life | 25 years | |
Capitalized Software Cost For Sale [Member] | ||
Accounting Policies [Line Items] | ||
Finite-Lived Intangible Asset, Useful Life | 5 years | |
Less than [Member] | ||
Accounting Policies [Line Items] | ||
Cost Method Investment, Ownership Percentage | 20.00% | |
Accounting Standards Update 2016-09 [Member] | ||
Accounting Policies [Line Items] | ||
New Accounting Pronouncement, Cumulative Effect Adjustment to Retained Earnings | $ | $ 0.2 |
Acquisitions (Narrative) (Detai
Acquisitions (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Edaptive Systems LLC [Member] | |||
Business Acquisition [Line Items] | |||
Business Combination, Separately Recognized Transactions, Additional Disclosures, Acquisition Cost Expensed | $ 0.3 | ||
Business Combination, Consideration Transferred | $ 13.2 | ||
Expected Goodwill Tax Amortization Period | 15 years | ||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 8 years | ||
Edaptive Systems LLC [Member] | Customer Relationships [Member] | |||
Business Acquisition [Line Items] | |||
Acquired Finite-lived Intangible Asset, Amount | $ 1.1 | ||
Finite-Lived Intangible Asset, Useful Life | 10 years | ||
Edaptive Systems LLC [Member] | Backlog [Member] | |||
Business Acquisition [Line Items] | |||
Acquired Finite-lived Intangible Asset, Amount | $ 0.3 | ||
Finite-Lived Intangible Asset, Useful Life | 1 year | ||
Oceans Edge, Inc, Cyber Division [Member] | |||
Business Acquisition [Line Items] | |||
Business Combination, Separately Recognized Transactions, Additional Disclosures, Acquisition Cost Expensed | $ 1.2 | ||
Business Combination, Consideration Transferred | $ 47.7 | ||
Expected Goodwill Tax Amortization Period | 15 years | ||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 16 years | ||
Oceans Edge, Inc, Cyber Division [Member] | Technology [Member] | |||
Business Acquisition [Line Items] | |||
Acquired Finite-lived Intangible Asset, Amount | $ 3 | ||
Finite-Lived Intangible Asset, Useful Life | 5 years | ||
Oceans Edge, Inc, Cyber Division [Member] | Customer Relationships [Member] | |||
Business Acquisition [Line Items] | |||
Acquired Finite-lived Intangible Asset, Amount | $ 14 | ||
Finite-Lived Intangible Asset, Useful Life | 20 years | ||
Oceans Edge, Inc, Cyber Division [Member] | Backlog [Member] | |||
Business Acquisition [Line Items] | |||
Acquired Finite-lived Intangible Asset, Amount | $ 1 | ||
Finite-Lived Intangible Asset, Useful Life | 1 year | ||
Knowledge Consulting Group [Member] | |||
Business Acquisition [Line Items] | |||
Business Combination, Separately Recognized Transactions, Additional Disclosures, Acquisition Cost Expensed | $ 0.3 | ||
Business Combination, Consideration Transferred | $ 68.2 | ||
Expected Goodwill Tax Amortization Period | 15 years | ||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 14 years | ||
Knowledge Consulting Group [Member] | Customer Relationships [Member] | |||
Business Acquisition [Line Items] | |||
Acquired Finite-lived Intangible Asset, Amount | $ 12.4 | ||
Finite-Lived Intangible Asset, Useful Life | 15 years | ||
Knowledge Consulting Group [Member] | Backlog [Member] | |||
Business Acquisition [Line Items] | |||
Acquired Finite-lived Intangible Asset, Amount | $ 0.8 | ||
Finite-Lived Intangible Asset, Useful Life | 1 year | ||
Welkin Associates, Ltd. [Member] | |||
Business Acquisition [Line Items] | |||
Business Combination, Separately Recognized Transactions, Additional Disclosures, Acquisition Cost Expensed | $ 0.7 | ||
Business Combination, Consideration Transferred | $ 34 | ||
Expected Goodwill Tax Amortization Period | 15 years | ||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 14 years | ||
Welkin Associates, Ltd. [Member] | Customer Relationships [Member] | |||
Business Acquisition [Line Items] | |||
Acquired Finite-lived Intangible Asset, Amount | $ 6 | ||
Finite-Lived Intangible Asset, Useful Life | 15 years | ||
Welkin Associates, Ltd. [Member] | Backlog [Member] | |||
Business Acquisition [Line Items] | |||
Acquired Finite-lived Intangible Asset, Amount | $ 0.4 | ||
Finite-Lived Intangible Asset, Useful Life | 1 year | ||
7Delta Inc. [Member] | |||
Business Acquisition [Line Items] | |||
Business Combination, Separately Recognized Transactions, Additional Disclosures, Acquisition Cost Expensed | $ 0.5 | ||
Business Combination, Consideration Transferred | $ 81.4 | ||
Expected Goodwill Tax Amortization Period | 15 years | ||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 7 years | ||
7Delta Inc. [Member] | Customer Relationships [Member] | |||
Business Acquisition [Line Items] | |||
Acquired Finite-lived Intangible Asset, Amount | $ 4.8 | ||
Finite-Lived Intangible Asset, Useful Life | 10 years | ||
7Delta Inc. [Member] | Backlog [Member] | |||
Business Acquisition [Line Items] | |||
Acquired Finite-lived Intangible Asset, Amount | $ 2.9 | ||
Finite-Lived Intangible Asset, Useful Life | 2 years | ||
Allied Technology Group Inc [Member] | |||
Business Acquisition [Line Items] | |||
Business Combination, Separately Recognized Transactions, Additional Disclosures, Acquisition Cost Expensed | 0.4 | ||
Business Combination, Consideration Transferred | $ 45 | ||
Expected Goodwill Tax Amortization Period | 15 years | ||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 18 years | ||
Allied Technology Group Inc [Member] | Customer Relationships [Member] | |||
Business Acquisition [Line Items] | |||
Acquired Finite-lived Intangible Asset, Amount | $ 6.4 | ||
Finite-Lived Intangible Asset, Useful Life | 20 years | ||
Allied Technology Group Inc [Member] | Backlog [Member] | |||
Business Acquisition [Line Items] | |||
Acquired Finite-lived Intangible Asset, Amount | $ 0.6 | ||
Finite-Lived Intangible Asset, Useful Life | 1 year |
Acquisitions (Schedule of Recog
Acquisitions (Schedule of Recognized Identified Assets Acquired and Liabilities Assumed) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Business Acquisition [Line Items] | |||
Goodwill | $ 955,874 | $ 919,591 | $ 851,640 |
Edaptive Systems LLC [Member] | |||
Business Acquisition [Line Items] | |||
Cash and cash equivalents | 282 | ||
Receivables | 10,813 | ||
Prepaid expenses and other | 144 | ||
Goodwill | 6,193 | ||
Other intangible assets | 1,689 | ||
Property and equipment | 502 | ||
Other assets | 116 | ||
Accounts payable and accrued expenses | (4,267) | ||
Accrued salaries and related expenses | (2,316) | ||
Net assets acquired and liabilities assumed | 13,156 | ||
Oceans Edge, Inc, Cyber Division [Member] | |||
Business Acquisition [Line Items] | |||
Receivables | 138 | ||
Goodwill | 30,090 | ||
Other intangible assets | 18,000 | ||
Property and equipment | 69 | ||
Accounts payable and accrued expenses | (29) | ||
Accrued salaries and related expenses | (586) | ||
Net assets acquired and liabilities assumed | $ 47,682 | ||
Knowledge Consulting Group [Member] | |||
Business Acquisition [Line Items] | |||
Cash and cash equivalents | 658 | ||
Receivables | 6,532 | ||
Prepaid expenses and other | 460 | ||
Goodwill | 47,487 | ||
Other intangible assets | 13,219 | ||
Property and equipment | 1,419 | ||
Investments | 15 | ||
Other assets | 31 | ||
Accounts payable and accrued expenses | (1,269) | ||
Accrued salaries and related expenses | (336) | ||
Billings in excess of revenue earned | (2) | ||
Net assets acquired and liabilities assumed | 68,214 | ||
Welkin Associates, Ltd. [Member] | |||
Business Acquisition [Line Items] | |||
Receivables | 3,901 | ||
Prepaid expenses and other | 141 | ||
Goodwill | 24,436 | ||
Other intangible assets | 6,350 | ||
Property and equipment | 100 | ||
Accounts payable and accrued expenses | (436) | ||
Accrued salaries and related expenses | (492) | ||
Net assets acquired and liabilities assumed | 34,000 | ||
7Delta Inc. [Member] | |||
Business Acquisition [Line Items] | |||
Cash and cash equivalents | 1,408 | ||
Receivables | 9,664 | ||
Prepaid expenses and other | 175 | ||
Goodwill | 69,967 | ||
Other intangible assets | 7,762 | ||
Property and equipment | 597 | ||
Other assets | 39 | ||
Accounts payable and accrued expenses | (6,617) | ||
Accrued salaries and related expenses | (1,399) | ||
Billings in excess of revenue earned | (229) | ||
Net assets acquired and liabilities assumed | $ 81,367 | ||
Allied Technology Group Inc [Member] | |||
Business Acquisition [Line Items] | |||
Cash and cash equivalents | 712 | ||
Receivables | 11,670 | ||
Prepaid expenses and other | 1,432 | ||
Contractual inventory | 1 | ||
Goodwill | 28,806 | ||
Other intangible assets | 7,071 | ||
Property and equipment | 899 | ||
Other assets | 111 | ||
Accounts payable and accrued expenses | (3,399) | ||
Accrued salaries and related expenses | (2,155) | ||
Billings in excess of revenue earned | (148) | ||
Net assets acquired and liabilities assumed | $ 45,000 |
Earnings per Share (Narrative)
Earnings per Share (Narrative) (Details) - $ / shares | 3 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Earnings Per Share [Abstract] | |||||||||||||||
Dividend Declared And Paid | $ 0.21 | $ 0.21 | $ 0.21 | $ 0.21 | $ 0.21 | $ 0.21 | $ 0.21 | $ 0.21 | $ 0.21 | $ 0.21 | $ 0.21 | $ 0.21 | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 369,300 | 1,780,222 | 2,686,196 | ||||||||||||
Options exercised, Number of Shares | 1,045,789 | 284,320 | 158,371 |
(Schedule of Earnings Per Share
(Schedule of Earnings Per Share, Basic and Diluted) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Components of Earnings Per Share, Basic and Diluted [Line Items] | |||||||||||
Distributed earnings | $ 32,138 | $ 31,543 | $ 31,313 | ||||||||
Undistributed earnings | 24,253 | 19,584 | 15,981 | ||||||||
Net income | $ 13,729 | $ 14,664 | $ 14,782 | $ 13,216 | $ 13,891 | $ 13,028 | $ 12,450 | $ 11,758 | 56,391 | 51,127 | 47,294 |
Class A Common Stock [Member] | |||||||||||
Components of Earnings Per Share, Basic and Diluted [Line Items] | |||||||||||
Basic net income available to common stockholders | $ 36,885 | $ 33,145 | $ 30,539 | ||||||||
Basic weighted average common shares outstanding | 25,423,000 | 25,164,000 | 24,707,000 | 24,476,000 | 24,393,000 | 24,341,000 | 24,325,000 | 24,206,000 | 24,944,000 | 24,317,000 | 24,047,000 |
Basic earnings per share | $ 0.36 | $ 0.38 | $ 0.39 | $ 0.35 | $ 0.37 | $ 0.35 | $ 0.33 | $ 0.31 | $ 1.48 | $ 1.36 | $ 1.27 |
Diluted net income available to common stockholders | $ 36,988 | $ 33,197 | $ 30,571 | ||||||||
Effect of potential exercise of stock options | 202,000 | 109,000 | 70,000 | ||||||||
Diluted weighted average common shares outstanding | 25,667,000 | 25,429,000 | 24,916,000 | 24,567,000 | 24,513,000 | 24,406,000 | 24,426,000 | 24,359,000 | 25,146,000 | 24,426,000 | 24,117,000 |
Diluted earnings per share | $ 0.35 | $ 0.38 | $ 0.39 | $ 0.35 | $ 0.37 | $ 0.35 | $ 0.33 | $ 0.31 | $ 1.47 | $ 1.36 | $ 1.27 |
Class B Common Stock [Member] | |||||||||||
Components of Earnings Per Share, Basic and Diluted [Line Items] | |||||||||||
Basic net income available to common stockholders | $ 19,506 | $ 17,982 | $ 16,755 | ||||||||
Basic weighted average common shares outstanding | 13,191,000 | 13,192,000 | 13,192,000 | 13,192,000 | 13,193,000 | 13,193,000 | 13,193,000 | 13,193,000 | 13,192,000 | 13,193,000 | 13,193,000 |
Basic earnings per share | $ 0.36 | $ 0.38 | $ 0.39 | $ 0.35 | $ 0.37 | $ 0.35 | $ 0.33 | $ 0.31 | $ 1.48 | $ 1.36 | $ 1.27 |
Diluted net income available to common stockholders | $ 19,403 | $ 17,930 | $ 16,723 | ||||||||
Effect of potential exercise of stock options | 0 | 0 | 0 | ||||||||
Diluted weighted average common shares outstanding | 13,191,000 | 13,192,000 | 13,192,000 | 13,192,000 | 13,193,000 | 13,193,000 | 13,193,000 | 13,193,000 | 13,192,000 | 13,193,000 | 13,193,000 |
Diluted earnings per share | $ 0.35 | $ 0.38 | $ 0.39 | $ 0.35 | $ 0.37 | $ 0.35 | $ 0.33 | $ 0.31 | $ 1.47 | $ 1.36 | $ 1.27 |
Receivables (Schedule of Contra
Receivables (Schedule of Contract Receivables) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Receivables [Abstract] | ||
Billed receivables | $ 247,114 | $ 233,735 |
Unbilled receivables: | ||
Amounts billable | 52,640 | 47,900 |
Revenues recorded in excess of funding | 20,078 | 19,213 |
Retainage | 8,353 | 11,878 |
Allowance for doubtful accounts | (7,508) | (8,473) |
Receivables-net | $ 320,677 | $ 304,253 |
Receivables (Narrative) (Detail
Receivables (Narrative) (Details) $ in Millions | Dec. 31, 2016USD ($) |
Receivables [Abstract] | |
Accounts Receivable Not Expected to be Substantially Collected within One Year | $ 0.9 |
Percentage of Accounts Receivable Not Expected to be Collected Within One Year related to Receivables from Direct Sales to U.S. Government | 93.30% |
Property and Equipment (Propert
Property and Equipment (Property and Equipment) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Property, Plant and Equipment [Line Items] | ||
Property and equipment-gross | $ 88,245 | $ 80,451 |
Accumulated depreciation and amortization | (65,124) | (58,012) |
Property and equipment-net | 23,121 | 22,439 |
Furniture and equipment | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment-gross | 51,806 | 44,718 |
Leasehold improvements | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment-gross | $ 36,439 | $ 35,733 |
Property and Equipment (Narrati
Property and Equipment (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Property, Plant and Equipment [Abstract] | |||
Depreciation and Amortization Expense | $ 7.8 | $ 8.5 | $ 9 |
Goodwill and Other Intangible44
Goodwill and Other Intangible Assets (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Amortization of Intangible Assets | $ 21.8 | $ 21.2 | $ 20.4 |
Goodwill and Other Intangible45
Goodwill and Other Intangible Assets (Schedule of Goodwill) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Goodwill [Roll Forward] | ||
Goodwill balance, period start | $ 919,591 | $ 851,640 |
Acquisitions | 36,283 | 71,922 |
Divestiture | (3,971) | |
Goodwill balance, period end | $ 955,874 | $ 919,591 |
Goodwill and Other Intangible46
Goodwill and Other Intangible Assets (Schedule of Other Intangible Assets) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | $ 340,472 | $ 317,910 |
Accumulated Amortization | 185,541 | 163,734 |
Net Carrying Amount | 154,931 | 154,176 |
Contract and program intangible assets | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 301,082 | 281,682 |
Accumulated Amortization | 158,671 | 140,163 |
Net Carrying Amount | 142,411 | 141,519 |
Capitalized software cost for internal use | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 39,332 | 36,170 |
Accumulated Amortization | 26,815 | 23,522 |
Net Carrying Amount | 12,517 | 12,648 |
Other | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 58 | 58 |
Accumulated Amortization | 55 | 49 |
Net Carrying Amount | $ 3 | $ 9 |
Goodwill and Other Intangible47
Goodwill and Other Intangible Assets (Schedule of Other Intangible Assets, Future Amortization Expense) (Details) $ in Thousands | Dec. 31, 2016USD ($) |
Year ending: | |
December 31, 2017 | $ 22,105 |
December 31, 2018 | 20,147 |
December 31, 2019 | 17,596 |
December 31, 2020 | 14,973 |
December 31, 2021 | $ 11,606 |
Debt (Revolving Credit Facility
Debt (Revolving Credit Facility) (Narrative) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | May 17, 2016 | |
Revolving Credit Facility [Member] | |||
Line of Credit Facility [Line Items] | |||
Debt, Weighted Average Interest Rate | 3.75% | 1.88% | |
Bank of America Syndicate [Member] | Revolving Credit Facility [Member] | |||
Line of Credit Facility [Line Items] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 500,000,000 | ||
Debt Issuance Cost | $ 1,800,000 | ||
Line of Credit, Current | 0 | $ 0 | |
Line of Credit Facility, Average Outstanding Amount | 0 | 11,100,000 | |
Line of Credit Facility, Remaining Borrowing Capacity | 476,900,000 | ||
Bank of America Syndicate [Member] | Letter of Credit [Member] | |||
Line of Credit Facility [Line Items] | |||
Line of Credit Facility, Maximum Borrowing Capacity | 50,000,000 | $ 50,000,000 | |
Letters of Credit Outstanding, Amount | 23,100,000 | $ 19,200,000 | |
Bank of America Syndicate [Member] | Revolving Credit Facility, Swing Line Loan [Member] | |||
Line of Credit Facility [Line Items] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 30,000,000 | ||
London Interbank Offered Rate (LIBOR) [Member] | Revolving Credit Facility [Member] | Minimum [Member] | |||
Line of Credit Facility [Line Items] | |||
Debt Instrument, Basis Spread on Variable Rate | 1.25% | ||
London Interbank Offered Rate (LIBOR) [Member] | Revolving Credit Facility [Member] | Maximum [Member] | |||
Line of Credit Facility [Line Items] | |||
Debt Instrument, Basis Spread on Variable Rate | 2.25% | ||
Bank of America's Base Rate [Member] | Revolving Credit Facility [Member] | Minimum [Member] | |||
Line of Credit Facility [Line Items] | |||
Debt Instrument, Basis Spread on Variable Rate | 0.25% | ||
Bank of America's Base Rate [Member] | Revolving Credit Facility [Member] | Maximum [Member] | |||
Line of Credit Facility [Line Items] | |||
Debt Instrument, Basis Spread on Variable Rate | 1.25% |
Debt (Senior Unsecured Notes) (
Debt (Senior Unsecured Notes) (Narrative) (Details) - USD ($) | Apr. 15, 2014 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Apr. 13, 2010 |
Debt Instrument [Line Items] | |||||
Loss on extinguishment of debt | $ 0 | $ 0 | $ 10,074,000 | ||
7.25% Senior Unsecured Notes [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt Instrument, Interest Rate, Stated Percentage | 7.25% | ||||
Debt Instrument, Face Amount | $ 200,000,000 | ||||
Debt Instrument, Redemption Price, Percentage | 103.625% | ||||
Debt Instrument, Redemption Price, Amount | $ 207,300,000 |
Commitments and Contingencies50
Commitments and Contingencies (Pending Litigation) (Narrative) (Details) | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Loss Contingencies [Line Items] | |
Loss Contingency, Damages Awarded, Value | $ 800,000 |
Loss Contingency Accrual | 4,200,000 |
Loss Contingency, Receivable | 5,000,000 |
Minimum [Member] | |
Loss Contingencies [Line Items] | |
Loss Contingency, Estimate of Possible Loss | 0 |
Maximum [Member] | |
Loss Contingencies [Line Items] | |
Loss Contingency, Estimate of Possible Loss | $ 11,100,000 |
Commitments and Contingencies51
Commitments and Contingencies (Letter of Credit) (Narrative) (Details) - Bank of America Syndicate [Member] - Letter of Credit [Member] - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Line of Credit Facility [Line Items] | ||
Letters of Credit Outstanding, Amount | $ 23,100,000 | $ 19,200,000 |
Performance Guarantee [Member] | ||
Line of Credit Facility [Line Items] | ||
Letters of Credit Outstanding, Amount | $ 19,000,000 |
Commitments and Contingencies52
Commitments and Contingencies (Operating Leases) (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | |||
Operating Leases, Rent Expense, Net | $ 37.4 | $ 37.2 | $ 42.9 |
Deferred Rent Credit | $ 11.1 | $ 11.1 |
Commitments and Contingencies53
Commitments and Contingencies (Schedule of Future Minimum Rental Payments for Operating Leases) (Details) $ in Thousands | Dec. 31, 2016USD ($) |
Year ending: | |
December 31, 2017 | $ 29,479 |
December 31, 2018 | 24,327 |
December 31, 2019 | 22,649 |
December 31, 2020 | 16,125 |
December 31, 2021 | 14,260 |
Thereafter | 30,051 |
Total | $ 136,891 |
Stockholders Equity and Stock54
Stockholders Equity and Stock-Based Compensation (Narrative) (Details) - USD ($) | Jan. 02, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Stockholders Equity and Stock-Based Compensation [Line Items] | ||||
Treasury Stock, Shares | 244,113 | 244,113 | ||
Class B Share Convertible to Class A Share | 1 | |||
Preferred Stock, Shares Authorized | 20,000,000 | |||
Preferred Stock, Par Value Per Share | $ 0.01 | |||
Preferred Stock, Shares Outstanding | 0 | 0 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 13,382,296 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Issuance | 5,896,244 | |||
Allocated Share-based Compensation Expense | $ 3,300,000 | $ 4,400,000 | $ 4,400,000 | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount | $ 0 | $ 0 | $ 0 | |
Share-based Compensation Arrangement by Share-based Award, Award Vesting Period | 3 years | 3 years | 3 years | |
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 5 years | 5 years | 5 years | |
Expected Annual Cash Dividend | $ 0.84 | $ 0.84 | $ 0.84 | |
Granted, Weighted Average Fair Value | $ 4.60 | $ 4.59 | $ 4.76 | |
Share-based Payment Award, Options, Vested, Fair Value | $ 2,600,000 | $ 3,600,000 | $ 4,400,000 | |
Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized | $ 1,500,000 | |||
Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition | 2 years | |||
Restricted Stock [Member] | ||||
Stockholders Equity and Stock-Based Compensation [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 18,000 | 21,000 | ||
Restricted Stock Units (RSUs) [Member] | ||||
Stockholders Equity and Stock-Based Compensation [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Award, Award Vesting Period | 2 years | 2 years | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 132,988 | 105,900 | ||
Class A Common Stock [Member] | ||||
Stockholders Equity and Stock-Based Compensation [Line Items] | ||||
Common Stock, Shares Authorized | 150,000,000 | 150,000,000 | ||
Common Stock, Par Value Per Share | $ 0.01 | $ 0.01 | ||
Common Stock, Shares Outstanding | 25,551,860 | 24,487,471 | ||
Common Stock, Voting Rights | 1 | |||
Class B Common Stock [Member] | ||||
Stockholders Equity and Stock-Based Compensation [Line Items] | ||||
Common Stock, Shares Authorized | 50,000,000 | 50,000,000 | ||
Common Stock, Par Value Per Share | $ 0.01 | $ 0.01 | ||
Common Stock, Shares Outstanding | 13,190,745 | 13,191,845 | ||
Common Stock, Voting Rights | 10 | |||
Maximum [Member] | ||||
Stockholders Equity and Stock-Based Compensation [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 8 years | 8 years | 8 years | |
Going Private Transaction [Member] | Class A Common Stock [Member] | ||||
Stockholders Equity and Stock-Based Compensation [Line Items] | ||||
Common Stock, Voting Rights | 1 | |||
Going Private Transaction [Member] | Class B Common Stock [Member] | ||||
Stockholders Equity and Stock-Based Compensation [Line Items] | ||||
Common Stock, Voting Rights | 1 | |||
Subsequent Event [Member] | ||||
Stockholders Equity and Stock-Based Compensation [Line Items] | ||||
Annual Percentage Increase In Number Of Shares Available For Issuance | 1.50% | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized | 581,139 | |||
Additional Paid-in Capital [Member] | ||||
Stockholders Equity and Stock-Based Compensation [Line Items] | ||||
Tax deficiency from the exercise of stock options | $ (136,000) | $ (2,971,000) | $ (3,211,000) | |
Director [Member] | Restricted Stock [Member] | ||||
Stockholders Equity and Stock-Based Compensation [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Award, Award Vesting Period | 1 year | 1 year | 1 year | |
Officer [Member] | Restricted Stock Units (RSUs) [Member] | ||||
Stockholders Equity and Stock-Based Compensation [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 26,788 | |||
Officer [Member] | Maximum [Member] | Restricted Stock Units (RSUs) [Member] | ||||
Stockholders Equity and Stock-Based Compensation [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Award, Award Vesting Period | 5 years | |||
Officer [Member] | Minimum [Member] | Restricted Stock Units (RSUs) [Member] | ||||
Stockholders Equity and Stock-Based Compensation [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Award, Award Vesting Period | 4 years |
Stockholders Equity and Stock55
Stockholders Equity and Stock-Based Compensation (Schedule of Shared-based Payment Award, Stock Options, Valuation Assumptions) (Detail) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Stockholders Equity and Stock-Based Compensation [Abstract] | |||
Volatility | 23.70% | 26.16% | 28.96% |
Expected life of options | 3 years | 3 years | 3 years |
Risk-free interest rate | 1.10% | 1.15% | 0.96% |
Dividend yield | 2.88% | 3.00% | 3.00% |
Stockholders Equity and Stock56
Stockholders Equity and Stock-Based Compensation (Schedule of Share-based Compensation, Stock Options, Activity) (Detail) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Share-based Payment Award, Options, Outstanding [Roll Forward] | ||||
Stock options, Number of Shares, Period Start | 2,495,310 | 3,391,032 | 3,400,120 | |
Granted, Number of Shares | 199,938 | 237,853 | 946,576 | |
Exercised, Number of Shares | (1,045,789) | (284,320) | (158,371) | |
Cancelled and expired, Number of Shares | (489,040) | (849,255) | (797,293) | |
Stock options, Number of Shares, Period End | 1,160,419 | 2,495,310 | 3,391,032 | |
Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward] | ||||
Stock options, Weighted Average Exercise Price, Period Start | $ 30.86 | $ 32.76 | $ 35.51 | |
Granted, Weighted Average Exercise Price | 34.22 | 30.87 | 29.12 | |
Exercised, Weighted Average Exercise Price | 29.24 | 27.51 | 24.78 | |
Cancelled and expired, Weighted Average Exercise Price | 37.91 | 39.56 | 41.75 | |
Stock options, Weighted Average Exercise Price, Period End | $ 29.93 | $ 30.86 | $ 32.76 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | ||||
Stock options, Aggregate Intrinsic Value | $ 14,299 | $ 3,583 | $ 4,722 | $ 4,488 |
Exercised, Aggregate Intrinsic Value | $ 8,858 | $ 1,348 | $ 754 |
Stockholders Equity and Stock57
Stockholders Equity and Stock-Based Compensation (Schedule of Non-Vested Share Activity) (Detail) - $ / shares | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested [Roll Forward] | |||
Non-vested stock options, Number of Shares, Period Start | 991,290 | ||
Granted, Number of Shares | 199,938 | 237,853 | 946,576 |
Vested, Number of Shares | (551,177) | ||
Cancelled, Number of Shares | (77,124) | ||
Non-vested stock options, Number of Shares, Period End | 562,927 | 991,290 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | |||
Non-vested stock options, Weighted Average Fair Value, Period Start | $ 4.74 | ||
Granted, Weighted Average Fair Value | 4.60 | $ 4.59 | $ 4.76 |
Vested, Weighted Average Fair Value | 4.78 | ||
Cancelled, Weighted Average Fair Value | 4.66 | ||
Non-vested stock options, Weighted Average Fair Value, Period End | $ 4.66 | $ 4.74 |
Stockholders Equity and Stock58
Stockholders Equity and Stock-Based Compensation (Stock Options Exercisable And Expected To Vest) (Details) $ / shares in Units, $ in Thousands | 12 Months Ended |
Dec. 31, 2016USD ($)$ / sharesshares | |
Stockholders Equity and Stock-Based Compensation [Abstract] | |
Stock options vested and expected to vest, Number of shares | shares | 1,084,505 |
Stock options vested and expected to vest, Weighted average exercise price | $ / shares | $ 29.76 |
Stock options vested and expected to vest, Weighted average remaining contractual life | 3 years |
Stock options vested and expected to vest, Aggregate intrinsic value | $ | $ 13,548 |
Stock options exercisable, Number of shares | shares | 597,492 |
Stock options exercisable, Weighted average exercise price | $ / shares | $ 28.68 |
Stock options exercisable, Weighted average remaining contractual life | 2 years |
Stock options exercisable, Aggregate intrinsic value | $ | $ 8,109 |
Stockholders Equity and Stock59
Stockholders Equity and Stock-Based Compensation (Schedule of Share-based Compensation, Restricted Stock Activity) (Details) - Restricted Stock [Member] - $ / shares | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award, Restricted Stock, Non-vested | ||
Non-vested, Period Start | 21,000 | 21,000 |
Granted | 18,000 | 21,000 |
Vested | (21,000) | (21,000) |
Non-vested, Period End | 18,000 | 21,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Restricted Stock, Weighted Average Fair Value | ||
Non-vested, Weighted Average Fair Value, Period Start | $ 28.98 | $ 30.61 |
Granted, Weighted Average Fair Value | 33.84 | 28.98 |
Vested, Weighted Average Fair Value | 28.98 | 30.61 |
Non-vested, Weighted Average Fair Value, Period End | $ 33.84 | $ 28.98 |
Stockholders Equity and Stock60
Stockholders Equity and Stock-Based Compensation Schedule of Share-based Compensation, Restricted Stock Unit Activity (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award, Restricted Stock Units, Number of Shares [Roll Forward] | ||
Non-vested, Period Start | 93,450 | 0 |
Granted | 132,988 | 105,900 |
Forfeited | (20,100) | (12,450) |
Non-vested, Period End | 206,338 | 93,450 |
Share-based Compensation Arrangement by Share-based Payment Award, Restricted Stock Units, Weighted Average Fair Value | ||
Non-vested, Weighted Average Fair Value, Period Start | $ 30.84 | $ 0 |
Granted, Weighted Average Fair Value | 29.50 | 30.85 |
Forfeited, Weighted Average Fair Value | 29.56 | 30.92 |
Non-vested, Weighted Average Fair Value, Period End | $ 30.10 | $ 30.84 |
Retirement Plans (Narrative) (D
Retirement Plans (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Retirement Plan [Line Items] | |||
Defined Contribution Plan, Other Than Employee Stock Ownership Plan, Contributions | $ 19,800 | $ 18,500 | $ 18,600 |
Employee Supplemental Savings Plan (ESSP) Percentage of Annual Base Compensation | 75.00% | 75.00% | 75.00% |
Employee Supplemental Savings Plan (ESSP) Percentage of Bonus | 100.00% | 100.00% | 100.00% |
Employee Supplemental Savings Plan (ESSP), Employee Contribution | $ 2,600 | $ 2,800 | $ 3,000 |
Defined Benefit Plan, Actual Plan Asset Allocations | 100.00% | 100.00% | |
Defined Benefit Plan, Benefit Obligation | $ 1,100 | $ 1,134 |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Tax Contingency [Line Items] | |||
Non-current Provision (Benefit) for income taxes arising from Cancellation of Vested Stock Options Allocated to Equity and Valuation Differences between Grant and Vesting Dates on Restricted Stock Allocated to Equity | $ (1.8) | $ (3) | $ (3.3) |
Non-current Provision (Benefit) for Income Taxes related to Liabilities for Uncertain Tax Positions | (0.2) | (0.3) | (0.4) |
Income Taxes Paid, Net of Refunds | 18.1 | 6.4 | 14.3 |
Tax Benefits, Nonqualified Stock Options and Disqualifying Dispositions of Incentive Stock Options | 1.7 | ||
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 0.2 | $ 0.4 | $ 0.6 |
Settlement With Taxing Authority [Member] | |||
Income Tax Contingency [Line Items] | |||
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit | 0.1 | ||
State [Member] | |||
Income Tax Contingency [Line Items] | |||
Operating Loss Carryforwards | 6.7 | ||
Foreign Tax Authority [Member] | |||
Income Tax Contingency [Line Items] | |||
Operating Loss Carryforwards | $ 1.3 |
Income Taxes (Schedule of Incom
Income Taxes (Schedule of Income before Income Tax, Domestic and Foreign) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Tax Disclosure [Abstract] | |||||||||||
Domestic | $ 89,988 | $ 85,665 | $ 79,238 | ||||||||
Foreign | 82 | (311) | (137) | ||||||||
INCOME FROM OPERATIONS BEFORE INCOME TAXES AND EQUITY METHOD INVESTMENTS | $ 21,025 | $ 23,365 | $ 23,972 | $ 21,708 | $ 22,625 | $ 22,353 | $ 20,879 | $ 19,497 | $ 90,070 | $ 85,354 | $ 79,101 |
Income Taxes (Schedule of Compo
Income Taxes (Schedule of Components of Income Tax Expense) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Current provision: | |||
Federal | $ 13,454 | $ 2,714 | $ 10,375 |
State | 2,394 | 1,247 | 2,499 |
Foreign | (45) | 77 | 160 |
Current provision | 15,803 | 4,038 | 13,034 |
Deferred provision: | |||
Federal | 17,170 | 27,817 | 17,739 |
State | 2,831 | 5,825 | 4,477 |
Deferred provision | 20,001 | 33,642 | 22,216 |
Non-current benefit resulting from allocating tax benefits directly to additional paid in capital and changes in liabilities: | |||
Federal | (1,573) | (2,568) | (2,755) |
State | (445) | (746) | (970) |
Non-current benefit resulting from allocating tax benefits directly to additional paid in capital and changes in liabilities | (2,018) | (3,314) | (3,725) |
Provision for income taxes | $ 33,786 | $ 34,366 | $ 31,525 |
Income Taxes (Schedule of Effec
Income Taxes (Schedule of Effective Income Tax Rate Reconciliation) (Details) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Tax Disclosure [Abstract] | |||
Statutory U.S. Federal tax rate | 35.00% | 35.00% | 35.00% |
Increase (decrease) in tax rate resulting from: | |||
State taxes—net of Federal benefit | 3.40% | 4.80% | 5.00% |
Excess executive compensation | 0.70% | 0.50% | 1.30% |
ESSP | (0.70%) | 0.20% | (0.70%) |
Section 199 deductions | (0.40%) | (0.40%) | (0.60%) |
Other, net | (0.50%) | 0.10% | 0.00% |
Effective tax rate | 37.50% | 40.20% | 40.00% |
Income Taxes (Schedule of Defer
Income Taxes (Schedule of Deferred Tax Assets and Liabilities) (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Gross deferred tax liabilities: | ||
Goodwill and other assets | $ 131,367,000 | $ 111,156,000 |
Unbilled receivables | 18,608,000 | 19,154,000 |
Property and equipment | 2,657,000 | 4,554,000 |
Total | 152,632,000 | 134,864,000 |
Gross deferred tax assets: | ||
Retirement and other liabilities | (27,258,000) | (29,000,000) |
Allowance for potential contract losses and other contract reserves | (3,005,000) | (3,429,000) |
Federal and state operating loss carryforwards | (560,000) | (400,000) |
Less: Valuation allowance | 272,000 | 0 |
Total | (30,551,000) | (32,829,000) |
Net deferred tax liabilities | $ 122,081,000 | $ 102,035,000 |
Income Taxes (Schedule of Unrec
Income Taxes (Schedule of Unrecognized Tax Benefits Roll Forward) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Reconciliation of Unrecognized Tax Benefits [Roll Forward] | |||
Gross unrecognized tax benefits at beginning of year | $ 519,000 | $ 785,000 | $ 1,207,000 |
Lapse in statute of limitations | (285,000) | (266,000) | (575,000) |
Increases in tax positions for current year | 59,000 | 0 | 86,000 |
Increases in tax positions for prior years | 0 | 0 | 80,000 |
Decreases in tax positions for prior years | 0 | 0 | (13,000) |
Gross unrecognized tax benefits at end of year | $ 293,000 | $ 519,000 | $ 785,000 |
Business Segment and Geograph68
Business Segment and Geographic Area Information (Narrative) (Details) - reportable_segment | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Segment Reporting Information [Line Items] | |||
Number of Reportable Segments | 1 | ||
Revenues [Member] | Government Contracts Concentration Risk [Member] | |||
Segment Reporting Information [Line Items] | |||
Percentage | 97.50% | 98.90% | 98.90% |
Revenues [Member] | UNITED STATES | |||
Segment Reporting Information [Line Items] | |||
Percentage | 98.40% | 99.90% | 99.70% |
Revenues [Member] | Non-US [Member] | |||
Segment Reporting Information [Line Items] | |||
Percentage | 1.60% | 0.10% | 0.30% |
Divestiture of ManTech Cyber 69
Divestiture of ManTech Cyber Solutions International and Investment (MCSI) in CounterTack Inc. (CounterTack) (Details) - USD ($) | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Jul. 13, 2015 | |
Noncash or Part Noncash Divestitures [Line Items] | ||||
Gain on Disposition of Business | $ 0 | $ 1,692,000 | $ 0 | |
Transaction costs for disposition of business | $ 0 | 1,174,000 | $ 0 | |
CounterTack Inc. [Member] | ||||
Noncash or Part Noncash Divestitures [Line Items] | ||||
Payments to Acquire Other Investments | 3,800,000 | |||
ManTech Cyber Solutions International [Member] | ||||
Noncash or Part Noncash Divestitures [Line Items] | ||||
Disposal Group, Including Discontinued Operation, Assets | $ 5,500,000 | |||
Disposal Group, Including Discontinued Operation, Liabilities | $ 1,700,000 | |||
ManTech Cyber Solutions International [Member] | CounterTack Inc. [Member] | ||||
Noncash or Part Noncash Divestitures [Line Items] | ||||
Noncash or Part Noncash Divestiture, Amount of Consideration Received | $ 6,700,000 |
Quarterly Financial Informati70
Quarterly Financial Information (Unaudited) (Schedule of Quarterly Financial Information) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Revenues | $ 394,178 | $ 415,402 | $ 401,354 | $ 390,662 | $ 402,401 | $ 393,008 | $ 384,378 | $ 370,330 | $ 1,601,596 | $ 1,550,117 | $ 1,773,981 |
Operating income | 21,304 | 23,500 | 24,214 | 21,945 | 22,808 | 21,120 | 21,112 | 19,846 | 90,963 | 84,886 | 94,816 |
Income from operations before income taxes and equity method investments | 21,025 | 23,365 | 23,972 | 21,708 | 22,625 | 22,353 | 20,879 | 19,497 | 90,070 | 85,354 | 79,101 |
Net income | $ 13,729 | $ 14,664 | $ 14,782 | $ 13,216 | $ 13,891 | $ 13,028 | $ 12,450 | $ 11,758 | $ 56,391 | $ 51,127 | $ 47,294 |
Class A Common Stock [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Basic weighted average common shares outstanding | 25,423 | 25,164 | 24,707 | 24,476 | 24,393 | 24,341 | 24,325 | 24,206 | 24,944 | 24,317 | 24,047 |
Basic earnings per share | $ 0.36 | $ 0.38 | $ 0.39 | $ 0.35 | $ 0.37 | $ 0.35 | $ 0.33 | $ 0.31 | $ 1.48 | $ 1.36 | $ 1.27 |
Diluted weighted average common shares outstanding | 25,667 | 25,429 | 24,916 | 24,567 | 24,513 | 24,406 | 24,426 | 24,359 | 25,146 | 24,426 | 24,117 |
Diluted earnings per share | $ 0.35 | $ 0.38 | $ 0.39 | $ 0.35 | $ 0.37 | $ 0.35 | $ 0.33 | $ 0.31 | $ 1.47 | $ 1.36 | $ 1.27 |
Class B Common Stock [Member] | |||||||||||
Quarterly Financial Information Disclosure [Line Items] | |||||||||||
Basic weighted average common shares outstanding | 13,191 | 13,192 | 13,192 | 13,192 | 13,193 | 13,193 | 13,193 | 13,193 | 13,192 | 13,193 | 13,193 |
Basic earnings per share | $ 0.36 | $ 0.38 | $ 0.39 | $ 0.35 | $ 0.37 | $ 0.35 | $ 0.33 | $ 0.31 | $ 1.48 | $ 1.36 | $ 1.27 |
Diluted weighted average common shares outstanding | 13,191 | 13,192 | 13,192 | 13,192 | 13,193 | 13,193 | 13,193 | 13,193 | 13,192 | 13,193 | 13,193 |
Diluted earnings per share | $ 0.35 | $ 0.38 | $ 0.39 | $ 0.35 | $ 0.37 | $ 0.35 | $ 0.33 | $ 0.31 | $ 1.47 | $ 1.36 | $ 1.27 |
Schedule II (Valuation and Qual
Schedule II (Valuation and Qualifying Accounts) (Details) - USD ($) | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||
Doubtful Accounts | ||||
Movement in Valuation Allowances and Reserves [Roll Forward] | ||||
Balance at Beginning of Period | $ 8,473,000 | $ 9,830,000 | $ 10,036,000 | |
Charged to Costs and Expenses | 0 | 0 | 0 | |
Deductions | (215,000) | (552,000) | (165,000) | |
Other | [1] | (750,000) | (805,000) | (41,000) |
Balance at End of Period | 7,508,000 | 8,473,000 | 9,830,000 | |
Deferred Tax Asset Valuation | ||||
Movement in Valuation Allowances and Reserves [Roll Forward] | ||||
Balance at Beginning of Period | 0 | 64,000 | 191,000 | |
Charged to Costs and Expenses | 272,000 | 0 | 0 | |
Deductions | 0 | 0 | (127,000) | |
Other | 0 | (64,000) | 0 | |
Balance at End of Period | $ 272,000 | $ 0 | $ 64,000 | |
[1] | Other represents doubtful account reserves released or recorded as part of net revenues for estimated customer disallowances. |