Risk Factors Update Summary
- Fixed-price contracts contributed 41% of total revenue in 2021, increasing to 45% in 2023.
- Revenue derived from federal government contracts increased from 47% in 2021 to 55% in 2023.
- Outstanding indebtedness decreased from $556 million in 2022 to $430 million in 2023.
- Revenue from state and local governments decreased from 24% in 2021 to 21% in 2023.
- The company faces evolving cybersecurity risks with increasing attacks in number and sophistication.
- Goodwill and purchased intangibles increased from 58% to 61% of total assets in 2023.
- Failure to comply with laws and regulations could subject the company to civil and financial risks.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1362004&owner=exclude
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