0001443646-23-000089 | 10-K | XBRL Viewer | Booz Allen Hamilton Holding Corp

Leases (Tables)

12 Months Ended

Mar. 31, 2023

The Company’s total lease cost is recorded primarily within general and administrative expenses on the consolidated statement of operations and consisted of the following:


	Fiscal Year Ended March 31,
	2023		2022		2021
Operating lease cost	$	68,620	$	69,831	$	68,702
Short-term lease cost	455		585		3,780
Variable lease cost	11,237		11,641		12,843
Total operating lease costs	$	80,312	$	82,057	$	85,325

Supplemental cash flow information related to leases was as follows:


	Fiscal Year Ended March 31,
	2023		2022		2021
Cash paid for amounts included in the measurement of lease liabilities	$	66,529	$	76,100	$	69,320
Operating lease liabilities arising from obtaining ROU assets (1)	16,517		41,206		52,454

(1) Includes all noncash increases and decreases arising from new or remeasured operating lease arrangements

Other information related to leases was as follows:


	March 31,
	2023		2022
Weighted average remaining lease term (in years)	4.6		5.0
Weighted average discount rate	4.7	%	4.5	%

Schedule of Future Minimum Operating Lease Payments

Future minimum operating lease payments for noncancelable operating leases as of March 31, 2023 are as follows:


For the Fiscal Year Ending March 31,	Operating Lease Payments
2024	$	61,492
2025	71,386
2026	54,832
2027	32,796
2028	22,562
Thereafter	38,326
Total future lease payments	281,394
Less: imputed interest	(32,012)
Total lease liabilities	$	249,382

Business Segment Information (Details)	12 Months Ended
Business Segment Information (Details)	Mar. 31, 2023 segment
Segment Reporting [Abstract]
Number of operating segments	1
Number of reportable segments	1

Goodwill and Intangible Assets

12 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill

Goodwill was $2,338.4 million and $2,021.9 million as of March 31, 2023 and March 31, 2022, respectively. The increase in the carrying amount of goodwill was attributable to the Company's acquisition of EverWatch, and the $325.5 million goodwill acquired is expected to be non-deductible for tax purposes. The Company allocated approximately $7.0 million and $2.0 million of goodwill to the MENA business and the MTS business, respectively, as part of the divestitures noted in Note 5, “Acquisitions and Divestitures”. The Company performed an annual impairment test of the goodwill as of January 1, 2023 and 2022, and did not identify any impairment.

Intangible Assets

Intangible assets consisted of the following:


	March 31, 2023						March 31, 2022
	Gross Carrying Value		Accumulated Amortization		Net Carrying Value		Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Amortizable intangible assets:
Programs and contract assets, channel relationships, and other amortizable intangible assets (1)	$	599,794	$	169,316	$	430,478	$	483,294	$	101,584	$	381,710
Software	134,152		69,215		64,937		119,398		44,626		74,772
Total amortizable intangible assets	$	733,946	$	238,531	$	495,415	$	602,692	$	146,210	$	456,482
Unamortizable intangible assets:
Trade name	$	190,200	$	—	$	190,200	$	190,200	$	—	$	190,200
Total	$	924,146	$	238,531	$	685,615	$	792,892	$	146,210	$	646,682

(1)The increase in the carrying amount of programs and contracts, channel relationships, and other amortizable intangible assets was attributable to the Company's acquisition of EverWatch.

Programs and contract assets, channel relationships, and other amortizable intangible assets are generally amortized on an accelerated basis over periods ranging from 2 years to 14 years, and those related to software are generally amortized on a straight line basis over periods ranging from 1 year to 10 years.

The Company performed an annual impairment test of the trade name as of January 1, 2023 and 2022, and did not identify any impairment.

Amortization expense for fiscal 2023, 2022, and 2021 was $94.3 million, $76.2 million, and $19.3 million, respectively.

The following table summarizes the estimated annual amortization expense for future periods, which does not reflect amortization expense for certain intangible assets that are not yet placed in service:


For the Fiscal Year Ended March 31,
2024	$	91,350
2025	78,513
2026	69,053
2027	57,301
2028	49,266
Thereafter	149,932
Total estimated amortization expense	$	495,415

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Statement of Stockholders' Equity [Abstract]
Accounting standards update [Extensible List]				Accounting Standards Update 2016-13 [Member]
Dividends paid (in dollars per share)	$ 1.76	$ 1.54	$ 1.30

- Definition

Indicates amendment to accounting standards.

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Reference 65: http://www.xbrl.org/2003/role/disclosureRef
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Reference 66: http://www.xbrl.org/2003/role/disclosureRef
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Reference 68: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

+ Details

Leases

12 Months Ended

Mar. 31, 2023

Leases [Abstract]

Leases

The Company's leases are generally for facilities and office space.

The Company’s total lease cost is recorded primarily within general and administrative expenses on the consolidated statement of operations and consisted of the following:


	Fiscal Year Ended March 31,
	2023		2022		2021
Operating lease cost	$	68,620	$	69,831	$	68,702
Short-term lease cost	455		585		3,780
Variable lease cost	11,237		11,641		12,843
Total operating lease costs	$	80,312	$	82,057	$	85,325

Future minimum operating lease payments for noncancelable operating leases as of March 31, 2023 are as follows:


For the Fiscal Year Ending March 31,	Operating Lease Payments
2024	$	61,492
2025	71,386
2026	54,832
2027	32,796
2028	22,562
Thereafter	38,326
Total future lease payments	281,394
Less: imputed interest	(32,012)
Total lease liabilities	$	249,382

Supplemental cash flow information related to leases was as follows:


	Fiscal Year Ended March 31,
	2023		2022		2021
Cash paid for amounts included in the measurement of lease liabilities	$	66,529	$	76,100	$	69,320
Operating lease liabilities arising from obtaining ROU assets (1)	16,517		41,206		52,454

(1) Includes all noncash increases and decreases arising from new or remeasured operating lease arrangements

Other information related to leases was as follows:


	March 31,
	2023		2022
Weighted average remaining lease term (in years)	4.6		5.0
Weighted average discount rate	4.7	%	4.5	%

Goodwill and Intangible Assets - Schedule of Expected Amortization Expense (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 91,350
2025	78,513
2026	69,053
2027	57,301
2028	49,266
Thereafter	149,932
Net Carrying Value	$ 495,415	$ 456,482

Accrued Compensation and Benefits (Tables)

12 Months Ended

Mar. 31, 2023

Schedule of Accrued Compensation and Benefits

Accrued compensation and benefits consisted of the following:


	March 31,
	2023		2022
Bonus	$	120,023	$	96,040
Retirement	52,480		48,169
Vacation	203,627		206,199
Other	69,075		88,226
Total accrued compensation and benefits	$	445,205	$	438,634

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Class A Common Stock	Common Stock Class A Common Stock	Treasury Stock	Additional Paid-In Capital	Retained Earnings	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Income (Loss)	Non-Controlling Interest
Increase (Decrease) in Stockholders' Equity [Roll Forward]
End of period (in shares)					(22,614,052)
Beginning of period (in shares) at Mar. 31, 2020				161,333,973
Beginning of period at Mar. 31, 2020	$ 856,356	$ (1,180)		$ 1,613	$ (898,095)	$ 468,027	$ 1,330,812	$ (1,180)	$ (46,001)	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)				1,112,183
Issuance of common stock	18,814			$ 11		18,803
Stock options exercised (in shares)				504,450
Stock options exercised	11,747			$ 5		11,742
Repurchase of common stock (in shares)					(4,090,525)
Repurchase of common stock	(318,068)				$ (318,068)
Recognition of liability related to future restricted stock units vesting	(456)					(456)
Net income	608,958						608,958
Other comprehensive income, net of tax	16,230								16,230
Dividends paid	(181,066)						(181,066)
Stock-based compensation expense	59,841					59,841
End of period (in shares) at Mar. 31, 2021				162,950,606
End of period at Mar. 31, 2021	1,071,176			$ 1,629	$ (1,216,163)	557,957	1,757,524		(29,771)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
End of period (in shares)					(26,704,577)
Issuance of common stock (in shares)				1,224,207
Issuance of common stock	22,170			$ 15		22,155
Stock options exercised (in shares)				197,732
Stock options exercised	5,929			$ 2		5,927
Repurchase of common stock (in shares)			(4,700,000)		(5,083,620)
Repurchase of common stock	(419,291)				$ (419,291)
Recognition of liability related to future restricted stock units vesting	1,213					1,213
Net income	466,577						466,740			(163)
Other comprehensive income, net of tax	38,356								38,356
Dividends paid	(209,193)						(209,193)
Stock-based compensation expense	69,784					69,784
Contribution to non-controlling interest	$ 0					(814)				814
End of period (in shares) at Mar. 31, 2022	132,584,348			164,372,545
End of period at Mar. 31, 2022	$ 1,046,721			$ 1,646	$ (1,635,454)	656,222	2,015,071		8,585	651
Increase (Decrease) in Stockholders' Equity [Roll Forward]
End of period (in shares)	31,788,197				(31,788,197)
Issuance of common stock (in shares)				1,170,726
Issuance of common stock	$ 24,663			$ 10		24,653
Stock options exercised (in shares)				329,061
Stock options exercised	11,384			$ 3		11,381
Repurchase of common stock (in shares)			(2,100,000)		(2,446,547)
Repurchase of common stock	(224,451)				$ (224,451)
Net income	271,215						271,791			(576)
Other comprehensive income, net of tax	20,748								20,748
Dividends paid	(235,407)						(235,407)
Stock-based compensation expense	80,272					80,272
Contribution to non-controlling interest	0					(3,068)				3,068
De-Consolidation of non-controlling interest	$ (3,143)									(3,143)
End of period (in shares) at Mar. 31, 2023	131,637,588			165,872,332
End of period at Mar. 31, 2023	$ 992,002			$ 1,659	$ (1,859,905)	$ 769,460	$ 2,051,455		$ 29,333	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
End of period (in shares)	34,234,744				(34,234,744)

Income Taxes - Components of Net Deferred Income Taxes (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Deferred income tax assets:
Accrued expenses	$ 146,945	$ 80,344
Deferred compensation	47,931	56,361
Stock-based compensation	11,628	9,783
Pension and postretirement benefits	28,585	30,797
Net operating loss and other carryforwards	16,984	44,118
Research and development expenditures and indirect effects	599,381	0
State tax credits	11,516	24,268
Operating lease liabilities	69,604	82,799
Other	9,100	2,501
Total gross deferred income tax assets	941,674	330,971
Less: Valuation allowance	(11,788)	(8,715)
Total net deferred income tax assets	929,886	322,256
Deferred income tax liabilities:
Unbilled receivables	(177,321)	(209,753)
Intangible assets	(88,858)	(56,657)
Property and equipment	(34,905)	(198,940)
Operating lease right-of-use assets	(48,939)	(59,401)
Other	(6,083)	(4,780)
Total deferred income tax liabilities	(356,106)	(529,531)
Net deferred income tax asset	$ 573,780
Net deferred income tax (liability)		$ (207,275)

Stock-based Compensation - Summary of Stock Plans (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Oct. 01, 2010	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Repurchase of common stock		$ 224,451	$ 419,291	$ 318,068
Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Repurchase of common stock (in shares)		2,100,000	4,700,000
EIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted (in shares)		300,000	100,000
Grant date fair value of options granted during period		$ 4,400	$ 1,600
Fair value of options vested		2,400	2,400
Intrinsic value of options exercised		$ 19,100	$ 11,400
Stock options outstanding, unvested (in shares)		400,000	300,000
Outstanding, weighted average grant date fair value (in dollars per share)		$ 15.61	$ 12.73
Stock options outstanding (in shares)		1,100,000	1,300,000
Outstanding, weighted average exercise price (in dollars per share)		$ 60.55	$ 49.34
Restricted stock granted (in shares)		1,184,107
Repurchase of common stock (in shares)		300,000
Repurchase of common stock		$ 28,200
EIP \| Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options available for future grant (in shares)		7,700,000	8,600,000
Stock option expiration period		10 years
Stock option vesting period		5 years
EIP \| Restricted Stock \| Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate fair value of all awards issued		$ 70,200	$ 59,600
EIP \| Restricted Stock Units (RSUs) \| Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock granted (in shares)		1,200,000
Aggregate fair value of all awards issued		$ 102,100
Annual Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option vesting period	3 years
Officer \| Annual Incentive Plan \| Restricted Stock \| Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option vesting period		3 years
Stock issued upon conversion (in shares)		1
Director \| EIP \| Restricted Stock \| Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option vesting period		1 year

Employee Benefit Plans (Tables)

12 Months Ended

Mar. 31, 2023

Retirement Benefits [Abstract]

Schedule of Components of Net Postretirement Medical Expense

The components of net postretirement medical expense for the Officer Medical Plan were as follows:


	Fiscal Year Ended March 31,
	2023		2022		2021
Service cost	$	6,117	$	6,505	$	5,657
Interest cost	4,182		4,063		4,237

Total postretirement medical expense	$	10,299	$	10,568	$	9,894

Schedule of Assumed Health Care Cost Trend Rates

Assumed healthcare cost trend rates for the Officer Medical Plan at March 31, 2023 and 2022 were as follows:


Pre-65 initial rate	2023		2022
Healthcare cost trend rate assumed for next year	6.60	%	6.30	%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	4.50	%	4.50	%
Year that the rate reaches the ultimate trend rate	2032		2031


Post-65 initial rate	2023		2022
Healthcare cost trend rate assumed for next year	6.80	%	6.45	%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	4.50	%	4.50	%
Year that the rate reaches the ultimate trend rate	2032		2031

Schedule of Change in Benefit Obligation

The changes in the benefit obligation, plan assets, and funded status of the Officer Medical Plan were as follows:


	Fiscal Year Ended March 31,
	2023		2022		2021
Benefit obligation, beginning of the year	$	113,505	$	121,518	$	119,609
Service cost	6,117		6,505		5,657
Interest cost	4,182		4,063		4,237
Net actuarial gain	(14,288)		(13,563)		(3,466)
Benefits paid	(3,931)		(5,018)		(4,519)
Benefit obligation, end of the year	$	105,585	$	113,505	$	121,518

Schedule of Change in Fair Value of Plan Assets


	Fiscal Year Ended March 31,
Changes in plan assets	2023		2022		2021
Fair value of plan assets, beginning of the year	$	—	$	—	$	—
Employer contributions	3,931		5,018		4,519
Benefits paid	(3,931)		(5,018)		(4,519)
Fair value of plan assets, end of the year	$	—	$	—	$	—

Schedule of Expected Future Benefit Payments

The expected future medical benefit payments and related contributions are as follows:


For the Fiscal Year Ending March 31,
2024	$	4,397
2025	4,655
2026	5,054
2027	5,365
2028	5,770
2029 - 2033	33,899
Total	$	59,140

Employee Benefit Plans - Change in Benefit Obligation and Change in Plan Assets (Details) - Officer Medical Plan - Other Postretirement Benefits Plan - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation, beginning of the year	$ 113,505	$ 121,518	$ 119,609
Service cost	6,117	6,505	5,657
Interest cost	4,182	4,063	4,237
Net actuarial gain	(14,288)	(13,563)	(3,466)
Benefits paid	(3,931)	(5,018)	(4,519)
Benefit obligation, end of the year	105,585	113,505	121,518
Changes in plan assets
Fair value of plan assets, beginning of the year	0	0	0
Employer contributions	3,931	5,018	4,519
Benefits paid	(3,931)	(5,018)	(4,519)
Fair value of plan assets, end of the year	$ 0	$ 0	$ 0

Revenue

12 Months Ended

Mar. 31, 2023

Revenue from Contract with Customer [Abstract]

Revenue

Disaggregation of Revenue

We disaggregate our revenue from contracts with customers by contract type and by customer type, as well as by whether the Company acts as prime contractor or sub-contractor, as we believe these categories best depict how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors. The following series of tables presents our revenue disaggregated by these categories.

Revenue by Contract Type:


	Fiscal Year Ended March 31,
		2023			2022			2021
Cost-reimbursable			$	4,908,451	53%	$	4,514,262	54%	$	4,419,533	56%
Time-and-materials			2,296,965		25%	2,017,094		24%	1,962,999		25%
Fixed-price			2,053,495		22%	1,832,344		22%	1,476,406		19%
Total Revenue			$	9,258,911	100%	$	8,363,700	100%	$	7,858,938	100%

Revenue by Customer Type:


	Fiscal Year Ended March 31,
		2023			2022			2021
U.S. government(1):
Defense Clients			$	4,210,430	45%	$	3,950,751	47%	$	3,920,498	49%
Intelligence Clients			1,693,942		18%	1,578,939		19%	1,549,422		20%
Civil Clients			3,124,889		34%	2,617,730		31%	2,183,184		28%
Total U.S. government			9,029,261		97%	8,147,420		97%	7,653,104		97%
Global Commercial Clients			229,650		3%	216,280		3%	205,834		3%
Total Revenue			$	9,258,911	100%	$	8,363,700	100%	$	7,858,938	100%

(1) Certain contracts were reassigned between the various verticals of our U.S. government business shown in the table above to better align our operations to the customers we serve within each market. Comparative periods revenue by customer type has been recast to reflect the changes.

Revenue by Whether the Company Acts as a Prime Contractor or a Sub-Contractor:


	Fiscal Year Ended March 31,
		2023			2022			2021
Prime Contractor			$	8,755,628	95%	$	7,864,273	94%	$	7,311,313	93%
Sub-contractor			503,283		5%	499,427		6%	547,625		7%
Total Revenue			$	9,258,911	100%	$	8,363,700	100%	$	7,858,938	100%

Performance Obligations

As of March 31, 2023 and 2022, the Company had $7.9 billion and $7.4 billion of remaining performance obligations, respectively. We expect to recognize approximately 75% of the remaining performance obligations as of March 31, 2023 as revenue over the next 12 months, and approximately 85% over the next 24 months. The remainder is expected to be recognized thereafter.

Contract Balances

The following table summarizes the contract assets and liabilities, and accounts receivable, net of allowance recognized on the Company’s consolidated balance sheets:


	March 31,
	2023		2022
Current assets:
Accounts receivable–billed	$	551,666	$	465,322
Accounts receivable–unbilled (contract assets)	1,223,482		1,157,667
Allowance for credit losses	(318)		—
Accounts receivable, net	1,774,830		1,622,989
Other long-term assets:
Accounts receivable–unbilled (contract assets)	59,455		64,339
Total accounts receivable, net	$	1,834,285	$	1,687,328
Other current liabilities
Advance payments, billings in excess of costs incurred and deferred revenue (contract liabilities)	$	18,995	$	26,747

For fiscal 2023, 2022 and 2021, we recognized revenue of $24.4 million, $14.9 million and $24.5 million, respectively, related to our contract liabilities on April 1, 2022, 2021 and 2020, respectively.

Benefit for credit losses recognized were $(2.0) million, $(1.5) million, and $(2.6) million for fiscal 2023, 2022, and 2021, respectively.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI https://asc.fasb.org/topic&trid=49130388

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-Name Accounting Standards Codification
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+ Details

Stockholders’ Equity (Tables)

12 Months Ended

Mar. 31, 2023

Equity [Abstract]

Summary of Dividends Declared

The following table summarizes the cash distributions recognized in the consolidated statement of cash flows:


	Fiscal Year Ended March 31,
	2023		2022		2021
Recurring dividends (1)	$	235,726	$	209,057	$	181,066

(1) Amounts represent recurring quarterly dividends that were declared and paid for during each quarter of fiscal 2023, 2022, and 2021.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 271,215	$ 466,577	$ 608,958
Other comprehensive income, net of tax:
Change in unrealized gain on derivatives designated as cash flow hedges	10,109	27,983	13,665
Change in postretirement plan costs	10,639	10,373	2,565
Total other comprehensive income, net of tax	20,748	38,356	16,230
Comprehensive income	291,963	504,933	625,188
Comprehensive loss attributable to non-controlling interest	576	163	0
Comprehensive income attributable to common stockholders	$ 292,539	$ 505,096	$ 625,188

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

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+ Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

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+ Details

Property and Equipment, Net (Tables)

12 Months Ended

Mar. 31, 2023

Property, Plant and Equipment [Abstract]

Summary of Components of Property and Equipment, Net

The components of property and equipment, net were as follows:


	March 31,
	2023		2022
Furniture and equipment	$	119,316	$	117,250
Computer equipment	111,538		104,296
Leasehold improvements	258,258		235,342
Total	489,112		456,888
Less: Accumulated depreciation and amortization	(293,926)		(254,659)
Property and equipment, net	$	195,186	$	202,229

Stock-based Compensation

12 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [Abstract]

Stock-based Compensation

The following table summarizes stock-based compensation expense recognized in the consolidated statements of operations:


	Fiscal Year Ended March 31,
	2023		2022		2021
Cost of revenue	$	43,378	$	36,836	$	27,682
General and administrative expenses	36,894		32,948		32,162
Total	$	80,272	$	69,784	$	59,844

The following table summarizes the total stock-based compensation expense recognized in the consolidated statements of operations by the following types of equity awards, including stock options, time-based and performance-based restricted stock awards. Compensation expense for performance-based awards is estimated at each reporting date using management's expectation of the probable achievement of the specified performance criteria of each tranche during the respective performance periods:


	Fiscal Year Ended March 31,
	2023		2022		2021
Equity Incentive Plan Options	$	2,550	$	1,793	$	2,625
Restricted Stock and Other Awards	77,722		67,991		57,219

Total	$	80,272	$	69,784	$	59,844

As of March 31, 2023 and 2022, there was $50.9 million and $48.9 million, respectively, of total unrecognized compensation cost related to unvested stock-based compensation agreements. The unrecognized compensation cost as of March 31, 2023 is expected to be fully amortized over the next 4.6 years. Absent the effect of forfeiture or acceleration of stock compensation cost for any departures of employees, the following tables summarize the unrecognized compensation cost, the weighted average period the cost is expected to be amortized, and the estimated annual compensation cost for the future periods indicated below (excludes any future award):


	Unrecognized Compensation Cost				Weighted Average Remaining Period to be Recognized
	March 31, 2023		March 31, 2022		March 31, 2023	March 31, 2022
Equity Incentive Plan Options	$	3,495	$	2,359	3.7	3.2
Restricted Stock and Other Awards	47,451		46,528		1.8	1.7
Total	$	50,946	$	48,887


	Total Unrecognized Compensation Cost
	Total		2024		2025		2026		2027		2028
Equity Incentive Plan Options	$	3,495	$	1,731	$	997	$	528	$	222	$	17
Restricted Stock and Other Awards	47,451		31,669		15,013		769		—		—
Total	$	50,946	$	33,400	$	16,010	$	1,297	$	222	$	17

Equity Incentive Plan

Awards under the Company's Equity Incentive Plan, or EIP, may be made in the form of stock options; stock purchase rights; restricted stock; restricted stock units; performance shares; performance units; stock appreciation rights; deferred share units; dividend equivalents; and other stock-based awards. As of March 31, 2023 and 2022, there were 7.7 million and 8.6 million shares, respectively, available for future grant under the EIP.

Stock Options

Stock options under the EIP are granted at the discretion of the Board of Directors or its Compensation, Culture and People Committee and expire ten years from the grant date. Stock options generally vest in equal installments over a five-year period subject to the grantee’s continued service on each applicable vesting. All options under the EIP are exercisable, upon vesting, for shares of Class A Common Stock of Holding.

During fiscal 2023 and 2022, the Company granted 0.3 million and 0.1 million options under the EIP, with an aggregate grant date fair value of $4.4 million and $1.6 million, respectively. The total fair value of EIP options vested during both fiscal 2023 and 2022 were $2.4 million. The total intrinsic value of EIP options exercised during fiscal 2023 and 2022 was $19.1 million and $11.4 million, respectively.

As of March 31, 2023 and 2022, 0.4 million and 0.3 million options were unvested under the EIP, with a weighted average grant date fair value of $15.61 and $12.73, respectively. There were 1.1 million and 1.3 million EIP options outstanding as of March 31, 2023 and 2022, with a weighted average exercise price of $60.55 and $49.34, respectively.

Annual Incentive Plans

On October 1, 2010, the Board of Directors adopted an Annual Incentive Plan, or AIP, in connection with the initial public offering to more appropriately align the Company’s compensation programs with those of similarly situated companies. The amount of the annual incentive payment is determined based on performance targets established by the Board of Directors and a portion of the bonus may be paid in the form of equity (including stock and other awards under the EIP). Such equity awards vest over a three-year period subject to the employee’s continued service to the Company. The related expense is recognized in the accompanying consolidated statements of operations based on grant date fair value over the vesting period of three years.

The Company maintains annual incentive programs for officers and key employees. The equity compensation would be issued in the form of restricted stock units of which a portion would vest based on the passage of time, and the other portion would vest based on specified performance conditions to be achieved over a specified time period. A restricted stock unit represents a contingent right to receive one share of Class A Common Stock upon vesting. Service-based restricted stock units vest in equal installments over a three-year period subject to the grantee's continued service on each applicable vesting date and are settled for shares of Class A Common Stock. Dividend equivalents are paid in respect of the service-based restricted stock units when dividends are paid on the Company's Class A Common Stock. Performance-based awards vest at the end of a three-year period subject to certain specified financial performance criteria and the grantee's continued service through the period. These awards are settled for Class A Common Stock and dividend equivalents. Compensation expense for performance-based awards during the performance period is estimated at each reporting date using management's expectation of the probable achievement of the specified performance criteria.

The Company also maintains a program whereby certain non-officer employees would be eligible to receive a portion of their annual bonus in equity. The equity compensation would be issued in the form of restricted stock units that would vest immediately after issuance or over an applicable vesting period subject to the employee's continued service for the Company. The associated expense will be recognized in the accompanying consolidated statements of operations based on grant date fair value.

Grants of Class A Restricted Common Stock and Restricted Stock Units

During fiscal 2023, the Board of Directors granted an aggregate of 1.2 million Restricted Stock Units with service-based and performance-based vesting conditions to existing officers, vice presidents, and other employees and non-employees of the Company, as well as to newly promoted and hired partners and vice presidents. The awards will vest based on the applicable vesting period for the specific award subject to the employees' continued employment with the Company. The Board of Directors also granted Class A Restricted Common Stock to members of the Board of Directors during fiscal 2023. These awards generally vest over one year.

The aggregate fair value of all awards issued during fiscal 2023 was $102.1 million and will be recognized in the accompanying consolidated statements of operations over the applicable vesting period of the awards. The total fair value of restricted stock shares vested during fiscal 2023 and 2022 was $70.2 million and $59.6 million, respectively.

As permitted under the terms of the EIP, the Compensation, Culture and People Committee, as Administrator of the Plan, authorized the withholding of taxes not to exceed the minimum statutory withholding amount, through the surrender of shares of Class A Common Stock issuable upon the vesting or accelerated vesting of Restricted Stock. As a result of these transactions, the Company repurchased 0.3 million shares and recorded them as treasury shares at a total cost of $28.2 million in fiscal 2023.

The following table summarizes unvested restricted stock activity for the periods presented:


	Number of Shares	Weighted Average Grant Date Fair Value
Unvested Restricted Stock Awards
Unvested at March 31, 2022	1,064,260	$	79.29
Granted	1,184,107	86.20
Vested	903,523	77.68
Forfeited	160,257	82.96
Unvested at March 31, 2023	1,184,587	$	87.08

Employee Stock Purchase Plan

The Company offers a tax qualified Employee Stock Purchase Plan, or ESPP, which is designed to enable eligible employees to periodically purchase shares of the Class A Common Stock at a five percent discount from the fair market value of the Class A Common Stock. The ESPP provides for quarterly offering periods. For the year ended March 31, 2023, 0.3 million shares of Class A Common Stock were purchased by employees under the ESPP. Since the program's inception, 3.5 million shares have been purchased by employees of the total 10.0 million shares available.

Related Party Transactions (Details) - Affiliated Entity - Services Performed Under Subcontractor $ in Millions	12 Months Ended
	Mar. 31, 2022 USD ($) director	Mar. 31, 2021 USD ($)
Related Party Transaction [Line Items]
Number of directors \| director	2
Amount of related party transaction \| $	$ 70.0	$ 85.9

Accumulated Other Comprehensive Income

12 Months Ended

Mar. 31, 2023

Equity [Abstract]

Accumulated Other Comprehensive Income

All amounts recorded in other comprehensive loss are related to the Company's post-retirement plans and interest rate swaps designated as cash flow hedges. The following table shows the changes in accumulated other comprehensive loss, net of tax:


	Fiscal Year Ended March 31, 2023
	Post-retirement plans		Derivatives designated as cash flow hedges		Total
Beginning of year	$	8,811	$	(226)	$	8,585
Other comprehensive income before reclassifications (1)	10,644		11,021		21,665
Amounts reclassified from accumulated other comprehensive income	(5)		(912)		(917)
Net current-period other comprehensive income	10,639		10,109		20,748
End of year	$	19,450	$	9,883	$	29,333

(1) Changes in other comprehensive income before reclassification for post-retirement plans and derivatives designated as cash flow hedges are recorded net of tax benefit of $3.8 million and $3.9 million, respectively, for the fiscal year ended March 31, 2023.


	Fiscal Year Ended March 31, 2022
	Post-retirement plans		Derivatives designated as cash flow hedges		Total
Beginning of year	$	(1,562)	$	(28,209)	$	(29,771)
Other comprehensive income before reclassifications (2)	10,294		15,032		25,326
Amounts reclassified from accumulated other comprehensive income	79		12,951		13,030
Net current-period other comprehensive income	10,373		27,983		38,356
End of year	$	8,811	$	(226)	$	8,585

(2) Changes in other comprehensive income before reclassification for post-retirement plans and derivatives designated as cash flow hedges are recorded net of tax benefit of $3.6 million and $5.3 million, respectively, for the fiscal year ended March 31, 2022.


	Fiscal Year Ended March 31, 2021
	Post-retirement plans		Derivatives designated as cash flow hedges		Total
Beginning of year	$	(4,127)	$	(41,874)	$	(46,001)
Other comprehensive income (loss) before reclassifications (3)	2,481		(1,529)		952
Amounts reclassified from accumulated other comprehensive loss	84		15,194		15,278
Net current-period other comprehensive income (loss)	2,565		13,665		16,230

End of year	$	(1,562)	$	(28,209)	$	(29,771)

(3) Changes in other comprehensive income (loss) before reclassification for post-retirement plans and derivatives designated as cash flow hedges are recorded net of tax benefit of $0.9 million and $0.5 million, respectively, for the fiscal year ended March 31, 2021.

Earnings Per Share (Tables)

12 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

Schedule of Reconciliation of the Income Used to Compute Basic and Diluted EPS

A reconciliation of the income used to compute basic and diluted EPS for the periods presented are as follows:


	Fiscal Year Ended March 31,
	2023		2022		2021
Earnings for basic computations (1)	$	269,656	$	463,626	$	605,437
Weighted-average of common stock shares outstanding for basic computations	132,161,646		134,134,034		137,722,589
Earnings for diluted computations (1)	$	269,657	$	463,635	$	605,455
Dilutive stock options and restricted stock	554,790		716,774		980,631
Weighted-average of common stock shares outstanding for diluted computations	132,716,436		134,850,808		138,703,220
Earnings per share of common stock
Basic	$	2.04	$	3.46	$	4.40
Diluted	$	2.03	$	3.44	$	4.37

(1) During fiscal 2023, 2022, and 2021 approximately 1.1 million, 0.9 million, and 0.8 million shares of participating securities were paid dividends totaling $1.8 million, $1.4 million, and $1.0 million, respectively. There were undistributed earnings of $0.3 million, $1.7 million, and $2.5 million allocated to the participating class of securities in both basic and diluted earnings per share of common stock for fiscal 2023, 2022, and 2021, respectively. The allocated undistributed earnings and the dividends paid comprise the difference between net income attributable to common stockholders presented on the consolidated statements of operations and earnings for basic and diluted computations for fiscal 2023, 2022, and 2021. Anti-dilutive options excluded in the calculation of diluted EPS was not material during the periods presented.

Accounts Payable and Other Accrued Expenses

12 Months Ended

Mar. 31, 2023

Payables and Accruals [Abstract]

Accounts Payable and Other Accrued Expenses

Accounts payable and other accrued expenses consisted of the following:


	March 31,
	2023		2022
Vendor payables	$	597,808	$	539,524
Accrued expenses	718,832		363,092
Total accounts payable and other accrued expenses	$	1,316,640	$	902,616

Accrued expenses consisted primarily of the Company’s provision for claimed indirect costs, (approximately $326.7 million and $290.4 million as of March 31, 2023 and 2022, respectively), and the reserve associated with the U.S. Department of Justice's investigation of the Company ($350.0 million as of March 31, 2023). Refer to Note 20, “Commitments and Contingencies,” to the consolidated financial statements for further discussion of this provision.

Employee Benefit Plans - Healthcare Cost Trend Rates (Details) - Officer Medical Plan - Other Postretirement Benefits Plan	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Defined Benefit Plan Disclosure [Line Items]
Health care cost trend rate assumed for next year, Pre 65	6.60%	6.30%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate), Pre 65	4.50%	4.50%
Health care cost trend rate assumed for next year, Post 65	6.80%	6.45%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate), Post 65	4.50%	4.50%

Stock-based Compensation - Summary of Unrecognized Compensation (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Cost	$ 50,946	$ 48,887
Weighted Average Remaining Period to be Recognized	4 years 7 months 6 days
Total	$ 50,946	48,887
2024	33,400
2025	16,010
2026	1,297
2027	222
2028	17
EIP \| Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Cost	$ 3,495	$ 2,359
Weighted Average Remaining Period to be Recognized	3 years 8 months 12 days	3 years 2 months 12 days
Total	$ 3,495	$ 2,359
2024	1,731
2025	997
2026	528
2027	222
2028	17
Annual Incentive Plan \| Restricted Stock \| Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Compensation Cost	$ 47,451	$ 46,528
Weighted Average Remaining Period to be Recognized	1 year 9 months 18 days	1 year 8 months 12 days
Total	$ 47,451	$ 46,528
2024	31,669
2025	15,013
2026	769
2027	0
2028	$ 0

Fair Value Measurements - Recurring Fair Value Measurements (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Assets:
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration]	Prepaid expenses and other current assets
Derivative Asset, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other long-term assets	Other long-term assets
Liabilities:
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other current liabilities	Other current liabilities
Derivative Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other long-term liabilities	Other long-term liabilities
Fair Value, Measurements, Recurring
Assets:
Current derivative instruments	$ 11,245
Long-term derivative instruments	3,530	$ 4,088
Long-term deferred compensation plan asset	20,090	16,512
Total Assets	34,865	20,600
Liabilities:
Current derivative instruments		4,324
Long-term derivative instruments	1,369	39
Long-term deferred compensation plan liability	20,090	16,512
Total Liabilities	21,459	20,875
Fair Value, Measurements, Recurring \| Level 1
Assets:
Current derivative instruments	0
Long-term derivative instruments	0	0
Long-term deferred compensation plan asset	20,090	16,512
Total Assets	20,090	16,512
Liabilities:
Current derivative instruments		0
Long-term derivative instruments	0	0
Long-term deferred compensation plan liability	20,090	16,512
Total Liabilities	20,090	16,512
Fair Value, Measurements, Recurring \| Level 2
Assets:
Current derivative instruments	11,245
Long-term derivative instruments	3,530	4,088
Long-term deferred compensation plan asset	0	0
Total Assets	14,775	4,088
Liabilities:
Current derivative instruments		4,324
Long-term derivative instruments	1,369	39
Long-term deferred compensation plan liability	0	0
Total Liabilities	1,369	4,363
Fair Value, Measurements, Recurring \| Level 3
Assets:
Current derivative instruments	0
Long-term derivative instruments	0	0
Long-term deferred compensation plan asset	0	0
Total Assets	0	0
Liabilities:
Current derivative instruments		0
Long-term derivative instruments	0	0
Long-term deferred compensation plan liability	0	0
Total Liabilities	$ 0	$ 0

Cover - USD ($)	12 Months Ended
Cover - USD ($)	Mar. 31, 2023	May 23, 2023	Sep. 30, 2022
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Mar. 31, 2023
Current Fiscal Year End Date	--03-31
Document Transition Report	false
Entity File Number	001-34972
Entity Registrant Name	Booz Allen Hamilton Holding Corporation
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-2634160
Entity Address, Address Line One	8283 Greensboro Drive,
Entity Address, City or Town	McLean,
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	22102
City Area Code	703
Local Phone Number	902-5000
Title of 12(b) Security	Class A Common Stock
Trading Symbol	BAH
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 12,022,055,123
Entity Common Stock, Shares Outstanding		130,824,544
Documents Incorporated by Reference	Portions of the registrant’s Proxy Statement for its Annual Meeting of Stockholders scheduled for July 26, 2023 are incorporated by reference into Part III.
Entity Central Index Key	0001443646
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY

Audit Information	12 Months Ended
Audit Information	Mar. 31, 2023
Audit Information [Abstract]
Auditor Name	Ernst & Young LLP
Auditor Location	Tysons, Virginia
Auditor Firm ID	42

Acquisitions and Divestitures

12 Months Ended

Mar. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Acquisitions and Divestitures

Acquisitions

Tracepoint Holdings, LLC

On September 10, 2021, the Company acquired the remaining 60% equity interest in Tracepoint Holdings, LLC (“Tracepoint”), an industry-leading digital forensics and incident response company serving public and private sector clients, for cash consideration of approximately $120.3 million, net of adjustments (the “Tracepoint Transaction”). As a result of the transaction, Tracepoint and Tracepoint, LLC became wholly owned subsidiaries of Booz Allen Hamilton Inc. The acquisition complements the Company’s existing cybersecurity portfolio and expands its position in the private sector cyber market.

Prior to the closing of the Tracepoint Transaction, the Company held a 40% interest in Tracepoint, which was accounted for as an equity method investment. The equity method investment associated with Tracepoint was remeasured at fair value on the closing date of the Tracepoint Transaction, resulting in a gain of $5.7 million. This gain is presented as a component of Other Income on the Consolidated Statement of Operations for fiscal 2022. The fair value of the previously held equity method investment was determined based upon valuations of the Tracepoint business and future business outlook using projected future cash flows.

As a result of the Tracepoint transaction, the Company recognized $90.5 million of intangible assets which primarily consists of channel relationships. Channel relationships were valued using the excess earnings method discounted cash flow approach, incorporating Level 3 inputs as described under the fair value hierarchy of ASC No. 820, Fair Value Measurement (“Topic 820”). These unobservable inputs reflect the Company's own judgment about which assumptions market participants would use in pricing an asset on a non-recurring basis. The intangible asset is expected to be amortized over the estimated useful life of 10 years. The goodwill of $94.3 million is largely attributable to Tracepoint's specialized workforce. During the fourth quarter of fiscal 2022, the Company finalized Tracepoint's post-closing working capital.

Liberty IT Solutions, LLC

On June 11, 2021, the Company acquired Liberty IT Solutions, LLC (“Liberty”) for cash consideration of approximately $669.1 million, net of adjustments related to working capital, and transaction costs incurred as part of the acquisition, including compensation expenses paid by the Company that were associated with employee retention. As a result of the transaction, Liberty became a wholly owned subsidiary of Booz Allen Hamilton Inc. Liberty is a leading digital partner driving transformation across the federal IT ecosystem. The acquisition complements the Company’s digital transformation portfolio resulting in a deeper range of advanced technology solutions.

The Company recognized $309.0 million of intangible assets which consist of programs and contracts assets, and were valued using the excess earnings method discounted cash flow approach, incorporating Level 3 inputs as described under the fair value hierarchy of Topic 820. These unobservable inputs reflect the Company's own judgment about which assumptions market participants would use in pricing an asset on a non-recurring basis. The intangible assets are expected to be amortized over the estimated useful life of 12 years. The goodwill of $346.5 million is primarily attributable to Liberty's specialized workforce and the expected synergies between the Company and Liberty. During the third quarter of fiscal 2022, the Company finalized Liberty's post-closing working capital.

The following table summarizes the cumulative consideration paid and the allocation of the purchase price paid for Tracepoint and Liberty:


Cash consideration (gross of cash acquired and including net adjustments)	$	789,429
Fair value of non-controlling interest	80,063
Total purchase consideration	869,492

Purchase price allocation:
Cash	9,096
Current assets	57,519
Operating lease right-of-use asset	2,532
Other long-term assets	2,825
Intangible assets	399,500
Current liabilities	(40,217)
Operating lease liabilities - short-term	(1,017)
Operating lease liabilities - long term	(1,516)
Total fair value of identifiable net assets acquired	$	428,722

Goodwill	$	440,770

The acquisitions of Liberty and Tracepoint were accounted for under the acquisition method of accounting, which requires the total acquisition consideration to be allocated to the assets acquired and liabilities assumed based on an estimate of the acquisition date fair value, with the difference reflected in goodwill. As of March 31, 2022, the Company had completed the determination of fair values of the acquired assets and liabilities assumed. Pro forma results of operations for these acquisitions in the aggregate are not presented because these acquisitions are not material to the Company's consolidated results of operations.

EverWatch

On October 14, 2022, the Company completed the acquisition of EverWatch Corp. (“EverWatch”), a leading provider of advanced solutions to the defense and intelligence communities for approximately $445.1 million, net of post-closing adjustments and also incurred transaction costs as part of the acquisition. The acquisition was funded with cash on hand. As a result of the transaction, EverWatch became a wholly owned subsidiary of Booz Allen Hamilton Inc.

The following table summarizes the consideration and the preliminary allocation of the purchase price paid for EverWatch:


Cash consideration (gross of cash acquired and including net adjustments)	$	445,074

Purchase price allocation:
Cash	4,779
Current assets	27,725
Operating lease right-of-use asset	7,894
Other long-term assets	4,511
Intangible assets	116,500
Deferred tax liabilities	(22,337)
Current liabilities	(11,613)
Operating lease liabilities - short-term	(1,362)
Operating lease liabilities - long-term	(6,532)
Total fair value of identifiable net assets acquired	$	119,565

Goodwill	$	325,509

The acquisition was accounted for under the acquisition method of accounting, which requires the total acquisition consideration to be allocated to the assets acquired and liabilities assumed based on an estimate of the acquisition date fair value, with the difference reflected in goodwill. The goodwill of $325.5 million is primarily attributable to EverWatch's specialized workforce and the expected synergies between the Company and EverWatch.

The Company preliminarily recognized $116.5 million of intangible assets which consists primarily of contract assets and were valued using the excess earnings method discounted cash flow approach, incorporating Level 3 inputs as described under the fair value hierarchy of Topic 820. These unobservable inputs reflect the Company's own judgment about which assumptions market participants would use in pricing an asset on a non-recurring basis. The intangible assets will be amortized over the estimated useful life of 14 years.

The valuation of intangible assets remains preliminary as it is based on valuation estimates and assumptions that the Company is continuing to review and refine, specifically related to prospective financial information. The Company will continue to collect and assess information necessary to complete the valuation within the measurement period, which is up to one year from the acquisition date. Any adjustments to our estimates of intangible asset valuation will be between intangible assets and goodwill, and any deferred tax effects, and will be made in the periods in which the adjustments are determined. The cumulative effect of such adjustments will be calculated as if the adjustments had been completed as of the acquisition date.

Pro forma results of operations for this acquisition are not presented because the acquisition is not material to the Company's consolidated results of operations.

Divestitures

Middle East and North Africa Management Consulting Business

On September 1, 2022, the Company completed the divestiture of its management consulting business serving the Middle East and North Africa (“MENA”) region to Oliver Wyman, a global management consulting firm and a business of Marsh McLennan. The divestiture was substantially comprised of the contracts associated with the MENA business, the assets and liabilities associated with those contracts, and the workforce that provides services under those contracts.

As a result of this transaction, the Company de-recognized the assets and liabilities associated with the MENA business and recognized a pre-tax gain of $31.2 million in the second quarter of fiscal 2023, which is reflected in other income, net, on the consolidated statement of operations. The consideration for the sale of the business is subject to customary working capital adjustments, which may impact the amount of gain recognized.

Managed Threat Services Business

On December 5, 2022, the Company completed the divestiture of its commercial Managed Threat Services (“MTS”) business to Security On-Demand. The divestiture was substantially comprised of the contracts associated with the MTS business, the assets and liabilities associated with those contracts, and the workforce that provides services under those contracts.

As a result of this transaction, the Company de-recognized the assets and liabilities associated with the MTS business and recognized a pre-tax gain of $4.6 million during the third quarter of fiscal 2023, which is reflected in other income, net, on the consolidated statement of operations. The consideration for the sale of the business is subject to customary working capital adjustments and contingent consideration, which may impact the amount of gain recognized.

Business Deconsolidation

In December 2022, the Company forfeited certain participating rights of a consolidated artificial intelligence software platform business which has unrelated third-party interest holders and is classified as a variable interest entity (“VIE”). As a result of this transaction, the Company has determined that it is not the primary beneficiary of the VIE and thus de-recognized the assets, liabilities and non-controlling interest of this business. The Company recorded the fair value of its retained equity investment of $7.6 million which is accounted for under the measurement alternative. The resulting pre-tax gain, calculated as the investment value less the net de-recognized balances, was $8.9 million and is reflected in other income, net, on the consolidated statement of operations.

Stockholders’ Equity - Narrative (Details) shares in Millions, $ in Millions	12 Months Ended
	Mar. 31, 2023 USD ($) vote shares	Mar. 31, 2022 USD ($) shares	Jul. 27, 2022 USD ($)	Dec. 21, 2011 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock votes per share \| vote	1
Share repurchase program, remaining authorized repurchase amount	$ 855.9		$ 2,560.0	$ 400.0
Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Repurchase of common stock (in shares) \| shares	2.1	4.7
Share repurchase program, amount authorized	$ 196.2	$ 389.9

Debt

12 Months Ended

Mar. 31, 2023

Debt Disclosure [Abstract]

Debt

Debt consisted of the following:


	March 31, 2023				March 31, 2022
	Interest Rate		Outstanding Balance		Interest Rate		Outstanding Balance
New Term Loan A	5.97	%	$1,629,375		—%		$—
Existing Term Loan A Loans	—	%	—		1.71	%	1,241,398
Existing Term Loan B Loans	—	%	—		2.21	%	380,321
Revolver	—	%	—		—	%	—
Senior Notes due 2028	3.88	%	700,000		3.88	%	700,000
Senior Notes due 2029	4.00	%	500,000		4.00	%	500,000
Less: Unamortized debt issuance costs and discount on debt			(17,230)				(21,647)
Total			2,812,145				2,800,072
Less: Current portion of long-term debt			(41,250)				(68,379)
Long-term debt, net of current portion			$	2,770,895			$	2,731,693

Credit Agreement

On September 7, 2022 (the “Ninth Amendment Effective Date”), Booz Allen Hamilton Inc. (“Booz Allen Hamilton”), Booz Allen Hamilton Investor Corporation (“Investor”), and certain wholly owned subsidiaries of Booz Allen Hamilton, entered into the Ninth Amendment (the “Ninth Amendment”) to the Credit Agreement dated as of July 31, 2012, as amended (the “Existing Credit Agreement” and, as amended, the “Credit Agreement”), with certain institutional lenders and Bank of America, N.A., as Administrative Agent, Collateral Agent, Issuing Lender, Refinancing Revolver Lender, New Refinancing Tranche A Term Lender and 2022 Supplemental Tranche A Lender. As of March 31, 2023, the Credit Agreement provided Booz Allen Hamilton with a $1,629.4 million Term Loan A (“New Term Loan A”) and a $1,000.0 million revolving credit facility (the “Revolving Credit Facility”), with a sub-limit for letters of credit of $200.0 million (collectively, the “Senior Credit Facility”). Booz Allen Hamilton’s obligations and the guarantors’ guarantees under the Credit Agreement were secured by a first priority lien on substantially all of the assets (including capital stock of subsidiaries) of Booz Allen Hamilton, Investor and the subsidiary guarantors, subject to certain exceptions set forth in the Credit Agreement and related documentation; such security was released in connection with Booz Allen Hamilton obtaining investment grade ratings from both Moody's and S&P.

Pursuant to the Ninth Amendment, (i) $1,000.0 million of revolving commitments outstanding under the Existing Credit Agreement were refinanced by a new tranche of revolving commitments (the “New Revolving Commitments” and the revolving credit loans made thereunder, the “New Revolving Loans”) in an aggregate amount of $1,000.0 million, with a sublimit for letters of credit of $200.0 million and (ii) approximately $1,225.3 million of Term Loan A loans (the “Existing Term Loan A Loans”) and $379.3 million of Term Loan B loans (the “Existing Term Loan B Loans”) outstanding under the Existing Credit Agreement were refinanced by a new tranche of Term Loan A loans in an aggregate amount, along with additional new tranche A term loans advanced by certain lenders, totaling $1,650.0 million. The majority of the proceeds of the New Term Loan A were used to prepay in full all of the Existing Term Loan A Loans and Existing Term Loan B Loans.

The Ninth Amendment extended the maturity of the New Term Loan A and the New Revolving Commitments to September 7, 2027. Voluntary prepayments of the New Term Loan A and the New Revolving Loans are permitted at any time, in minimum principal amounts, without premium or penalty.

The New Term Loan A amortizes in consecutive quarterly installments in an amount equal to (i) on the last business day of each full fiscal quarter that begins after the Ninth Amendment Effective Date but on or before the two year anniversary of the Ninth Amendment Effective Date, 0.625% of the stated principal amount of the New Term Loan A and (ii) on the last business day of each full fiscal quarter that begins after the two year anniversary of the Ninth Amendment Effective Date but before the five year anniversary of the Ninth Amendment Effective Date, 1.25% of the stated principal amount of the New Term Loan A. The remaining balance of the New Term Loan A will be payable upon maturity.

The rate at which the New Term Loan A and the New Revolving Loans bear interest will be based either on Term SOFR (subject to a 0.10% adjustment and a floor of zero) for the applicable interest period or a base rate (equal to the highest of (i) the administrative agent’s prime corporate rate, (ii) the overnight federal funds rate plus 0.50% and (iii) three-month Term SOFR (subject to a 0.10% adjustment and a floor of zero) plus 1.00%), in each case plus an applicable margin, payable at the end of the applicable interest period and in any event at least quarterly. The applicable margin for the New Term Loan A and the New Revolving Loans ranges from 1.00% to 2.00% for Term SOFR loans and zero to 1.00% for base rate loans, in each case based on the lower of (i) the applicable rate per annum determined pursuant to a consolidated total net leverage ratio grid and (ii) the applicable rate per annum determined pursuant to a ratings grid. Unused New Revolving Commitments are subject to a quarterly fee ranging from 0.10% to 0.35% based on the lower of (i) the applicable fee rate per annum determined pursuant to a consolidated total net leverage ratio grid and (ii) the applicable fee rate per annum determined pursuant to a ratings grid. Booz Allen Hamilton has also agreed to pay customary letter of credit and agency fees.

In connection with the Ninth Amendment, the Company accelerated the amortization of ratable portions of the Debt Issuance Costs, or DIC, and Original Issue Discount, or OID associated with the prior senior secured loan facilities of $3.4 million.These expenses are reflected in other expense, net in the consolidated statement of operations for the three and twelve months ended March 31, 2023. Additionally, the Company expensed third party debt issuance costs of $6.9 million that did not qualify for deferral, which are reflected in general and administrative costs in the consolidated statement of operations for the three and twelve months ended March 31, 2023.

The Credit Agreement contains customary representations and warranties and customary affirmative and negative covenants. In addition, Booz Allen Hamilton is required to meet a financial covenant at each quarter end based on a consolidated net total leverage ratio. As of March 31, 2023 and March 31, 2022, Booz Allen Hamilton was in compliance with all financial covenants associated with its debt and debt-like instruments. In connection with Booz Allen Hamilton obtaining investment grade ratings from both Moody's and S&P, activities restricted by certain negative covenants are expected to be permitted subject to pro forma compliance with the financial covenant and no event of default having occurred and continuing.

The following table summarizes interest payments made on the Company’s term loans:


	Three Months Ended March 31,				Fiscal Year Ended March 31,
	2023		2022		2023		2022
New Term Loan A	$	24,233	$	—	$	49,079	$	—
Existing Term Loan A	—		4,371		14,165		19,568
Existing Term Loan B	—		1,802		5,209		7,203
Total	$	24,233	$	6,173	$	68,453	$	26,771

Borrowings under the New Term Loan A, and if used, the Revolving Credit Facility, incur interest at a variable rate. As of March 31, 2023, Booz Allen Hamilton had interest rate swaps with an aggregate notional amount of $700.0 million (which includes $550.0 million of active and $150.0 million of forward-starting hedges). These instruments hedge the variability of cash outflows for interest payments on the New Term Loan A and the Revolving Credit Facility. The Company's objectives in using cash flow hedges are to reduce volatility due to interest rate movements and to add stability to interest expense (see Note 11, “Derivatives,” to the consolidated financial statements).

Senior Notes

On June 17, 2021, Booz Allen Hamilton issued $500.0 million aggregate principal amount of its 4.000% Senior Notes due July 1, 2029 (the “Senior Notes due 2029”) under an Indenture, dated as of June 17, 2021, among Booz Allen Hamilton, certain subsidiaries of Booz Allen Hamilton, as guarantors, and Wilmington Trust, National Association, as trustee (in such capacity, the “2029 Trustee”), as supplemented by the First Supplemental Indenture, dated as of June 17, 2021, among Booz Allen Hamilton, the 2029 Subsidiary Guarantors and the 2029 Trustee. The Senior Notes due 2029 are Booz Allen Hamilton’s senior unsecured obligations and rank equally in right of payment with all of Booz Allen Hamilton’s and the 2029 Subsidiary Guarantors’ existing and future senior indebtedness and rank senior in right of payment to any of Booz Allen Hamilton’s future subordinated indebtedness. The net proceeds from the sale of the Senior Notes due 2029 were used to fund the acquisition of Liberty and to pay related fees and expenses.

Booz Allen Hamilton may redeem some or all of the Senior Notes due 2029 at any time prior to July 1, 2024, at a price equal to 100.00% of the principal amount of the Senior Notes due 2029 redeemed, plus accrued and unpaid interest, if any, to (but not including) the redemption date, plus an applicable “make-whole premium.” Booz Allen Hamilton may redeem the Senior Notes due 2029 at its option, in whole at any time or in part from time to time, upon certain required notice, (i) on and after July 1, 2024, at a price equal to 102.00% of the principal amount of the Senior Notes due 2029 redeemed, (ii) on or after July 1, 2025, at a price equal to 101.00% of the principal amount of the Senior Notes due 2029 redeemed, and (iii) on July 1, 2026 and thereafter, at a price equal to 100.00% of the principal amount of the Senior Notes due 2029 redeemed, in each case, plus accrued and unpaid interest, if any, to (but not including) the applicable redemption date. In addition, at any time on or prior to July 1, 2024, Booz Allen Hamilton may redeem up to 40.00% of the Senior Notes due 2029 with an amount equal to the net cash proceeds of certain equity offerings at a redemption price equal to 104.00%, plus accrued and unpaid interest, if any, to (but not including) the redemption date, provided, however, that at least 50.00% of the original aggregate principal amount of the Senior Notes due 2029 must remain outstanding after each such redemption; and provided, further, that such redemption shall occur within 180 days after the date on which any such equity offering is consummated.

Interest is payable on the Senior Notes due 2029 semi-annually in cash in arrears on July 1 and January 1 of each year, beginning on January 1, 2022. In connection with the issuance of the Senior Notes due 2029, the Company recognized $6.5 million of issuance costs, which were recorded as an offset against the carrying value of debt and will be amortized to interest expense over the term of the Senior Notes due 2029.

On August 24, 2020, Booz Allen Hamilton issued $700.0 million aggregate principal amount of its 3.875% Senior Notes due 2028 (the “Senior Notes due 2028”, and, together with the Senior Notes due 2029, the “Senior Notes”) under an Indenture, dated as of August 24, 2020, among Booz Allen Hamilton, certain subsidiaries of Booz Allen Hamilton, as guarantors, and Wilmington Trust, National Association as trustee (in such capacity, the “2028 Trustee”), as supplemented by the First Supplemental Indenture, dated as of August 24, 2020, among Booz Allen Hamilton, the 2028 Subsidiary Guarantors and the 2028 Trustee. The Senior Notes due 2028 are Booz Allen Hamilton’s senior unsecured obligations and rank equally in right of payment with all of Booz Allen Hamilton’s existing and future senior indebtedness and rank senior in right of payment to any of Booz Allen Hamilton’s future subordinated indebtedness.

Booz Allen Hamilton may redeem some or all of the Senior Notes due 2028 at any time prior to September 1, 2023, at a price equal to 100.00% of the principal amount of the Senior Notes due 2028 redeemed, plus accrued and unpaid interest, if any, to (but not including) the redemption date, plus an applicable “make-whole premium.” Booz Allen Hamilton may redeem the Senior Notes due 2028 at its option, in whole at any time or in part from time to time, upon certain required notice, (i) on and after September 1, 2023, at a price equal to 101.938% of the principal amount of the Senior Notes due 2028, (ii) on or after September 1, 2024, at a price equal to 100.969% of the principal amount of the Senior Notes due 2028, and (iii) on September 1, 2025 and thereafter, at a price equal to 100.00% of the principal amount of the Senior Notes due 2028, in each case, plus accrued and unpaid interest, if any, to (but not including) the applicable redemption date. In addition, at any time on or prior to September 1, 2023, Booz Allen Hamilton may redeem up to 40.00% of the original aggregate principal amount of the Senior Notes due 2028 with the net cash proceeds of certain equity offerings at a redemption price equal to 103.875% of the principal amount of the Senior Notes due 2028, plus accrued and unpaid interest, if any, to (but not including) the redemption date, provided that at least 50.00% of the original aggregate principal amount of the Senior Notes due 2028 remains outstanding after each such redemption; and provided, further, that the redemption occurs within 180 days after the date on which any such equity offering is consummated.

Interest is payable on the Senior Notes due 2028 semi-annually on March 1 and September 1 of each year, beginning on March 1, 2021, and principal is due at maturity on September 1, 2028. In connection with the issuance of the Senior Notes due 2028, the Company recognized $9.2 million of issuance costs, which were recorded as an offset against the carrying value of debt and will be amortized to interest expense over the term of the Senior Notes due 2028.

In connection with the Senior Notes obtaining investment grade ratings from Moody’s and S&P, certain negative covenants in the indentures governing the Senior Notes got suspended, and guarantees of the Senior Notes were released, in January 2023.

The following table summarizes required future debt repayments:


	Payments Due By March 31,
	Total		2024		2025		2026		2027		2028		Thereafter
Term Loan A	$	1,629,375	$	41,250	$	61,875	$	82,500	$	82,500	$	1,361,250	—

Senior Notes 2028	700,000		—		—		—		—		700,000		—
Senior Notes 2029	500,000		—		—		—		—		—		500,000
Interest on indebtedness	696,790		148,150		145,143		140,476		135,326		84,132		43,563
Total	$	3,526,165	$	189,400	$	207,018	$	222,976	$	217,826	$	2,145,382	$	543,563

Interest expense on debt and debt-like instruments consisted of the following:


	Fiscal Year Ended March 31,
	2023		2022		2021
New Term Loan A	$	63,463	$	—	$	—
Existing Term Loan A Loans	—		19,570		23,541
Existing Term Loan B Loans	5,186		7,207		7,787
Revolving Credit Facility	—		25		799
Senior Notes	47,125		42,902		23,476
Amortization of Debt Issuance Cost (DIC) and Original Issue Discount (OID) (1)	4,350		4,619		4,396
Interest Rate Swaps	(1,237)		17,535		20,558
Other	963		494		713
Total Interest Expense	$	119,850	$	92,352	$	81,270

(1) DIC and OID on the Term Loans and Senior Notes are recorded as a reduction of long-term debt in the consolidated balance sheet and are amortized ratably over the life of the related debt using the effective rate method. DIC on the Company's Revolving Credit Facility is recorded as a long-term asset on the consolidated balance sheet and amortized ratably over the term of the Revolving Credit Facility.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI https://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1E
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (i)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

+ Details

Goodwill and Intangible Assets - Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Finite-Lived Intangible Assets, Net [Abstract]
Gross Carrying Value	$ 733,946	$ 602,692
Accumulated Amortization	238,531	146,210
Net Carrying Value	495,415	456,482
Indefinite-lived Intangible Assets (Excluding Goodwill) [Abstract]
Intangible assets, gross	924,146	792,892
Net Carrying Value	685,615	646,682
Trade name
Indefinite-lived Intangible Assets (Excluding Goodwill) [Abstract]
Unamortizable intangible assets	190,200	190,200
Programs and contract assets, channel relationships, and other amortizable intangible assets
Finite-Lived Intangible Assets, Net [Abstract]
Gross Carrying Value	599,794	483,294
Accumulated Amortization	169,316	101,584
Net Carrying Value	430,478	381,710
Software
Finite-Lived Intangible Assets, Net [Abstract]
Gross Carrying Value	134,152	119,398
Accumulated Amortization	69,215	44,626
Net Carrying Value	$ 64,937	$ 74,772

Debt - Schedule of Future Debt Principal Repayments (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Interest on indebtedness
Total	$ 696,790
2024	148,150
2025	145,143
2026	140,476
2027	135,326
2028	84,132
Thereafter	43,563
Total
Total	3,526,165
2024	189,400
2025	207,018
2026	222,976
2027	217,826
2028	2,145,382
Thereafter	543,563
Existing Term Loan A Loans
Long-term debt, gross
Total	1,629,375
2024	41,250
2025	61,875
2026	82,500
2027	82,500
2028	1,361,250
Thereafter	0
Senior Notes 2028 \| Senior Notes
Long-term debt, gross
Total	700,000	$ 700,000
2024	0
2025	0
2026	0
2027	0
2028	700,000
Thereafter	0
Senior Notes 2029 \| Senior Notes
Long-term debt, gross
Total	500,000	$ 500,000
2024	0
2025	0
2026	0
2027	0
2028	0
Thereafter	$ 500,000

Derivatives - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Derivative [Line Items]
Estimated amounts to be reclassified over 12 months	$ 11,300
Other Current Assets
Derivative [Line Items]
Estimated fair value of derivative assets	11,200
Other Long-Term Assets
Derivative [Line Items]
Estimated fair value of derivative assets	3,500	$ 4,100
Other Current Liabilities
Derivative [Line Items]
Estimated fair value of derivative liabilities		4,300
Other Long-Term Liabilities
Derivative [Line Items]
Estimated fair value of derivative liabilities	1,400	$ 39
Cash Flow Hedging \| Designated as Hedging Instrument \| Interest Rate Swap
Derivative [Line Items]
Notional Amount	$ 700,000

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share, Basic and Diluted, by Common Class, Including Two Class Method [Line Items]
Earnings for basic computations	$ 269,656	$ 463,626	$ 605,437
Weighted-average of common stock shares outstanding for basic computations (in shares)	132,161,646	134,134,034	137,722,589
Earnings for diluted computations	$ 269,657	$ 463,635	$ 605,455
Dilutive stock options and restricted stock (in shares)	554,790	716,774	980,631
Weighted-average of common stock shares outstanding for diluted computations (in shares)	132,716,436	134,850,808	138,703,220
Earnings per share of common stock
Basic (in dollars per share)	$ 2.04	$ 3.46	$ 4.40
Diluted (in dollars per share)	$ 2.03	$ 3.44	$ 4.37
Cash dividends paid	$ 235,726	$ 209,057	$ 181,066
Restricted Stock
Earnings per share of common stock
Unvested shares participating in the payment of the company's dividends declared (in shares)	1,100,000	900,000	800,000
Cash dividends paid	$ 1,800	$ 1,400	$ 1,000
Undistributed earnings (loss) allocated to participating securities, basic	300	1,700	2,500
Undistributed earnings (loss) allocated to participating securities, diluted	$ 300	$ 1,700	$ 2,500

Debt - Interest Payment (Details) - Secured Debt - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Debt Instrument [Line Items]
Interest payments	$ 24,233	$ 6,173	$ 68,453	$ 26,771
New Term Loan A
Debt Instrument [Line Items]
Interest payments	24,233	0	49,079	0
Existing Term Loan A Loans
Debt Instrument [Line Items]
Interest payments	0	4,371	14,165	19,568
Existing Term Loan B Loans
Debt Instrument [Line Items]
Interest payments	$ 0	$ 1,802	$ 5,209	$ 7,203

Revenue (Tables)

12 Months Ended

Mar. 31, 2023

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue


	Fiscal Year Ended March 31,
		2023			2022			2021
Cost-reimbursable			$	4,908,451	53%	$	4,514,262	54%	$	4,419,533	56%
Time-and-materials			2,296,965		25%	2,017,094		24%	1,962,999		25%
Fixed-price			2,053,495		22%	1,832,344		22%	1,476,406		19%
Total Revenue			$	9,258,911	100%	$	8,363,700	100%	$	7,858,938	100%

Revenue by Customer Type:


	Fiscal Year Ended March 31,
		2023			2022			2021
U.S. government(1):
Defense Clients			$	4,210,430	45%	$	3,950,751	47%	$	3,920,498	49%
Intelligence Clients			1,693,942		18%	1,578,939		19%	1,549,422		20%
Civil Clients			3,124,889		34%	2,617,730		31%	2,183,184		28%
Total U.S. government			9,029,261		97%	8,147,420		97%	7,653,104		97%
Global Commercial Clients			229,650		3%	216,280		3%	205,834		3%
Total Revenue			$	9,258,911	100%	$	8,363,700	100%	$	7,858,938	100%

Revenue by Whether the Company Acts as a Prime Contractor or a Sub-Contractor:


	Fiscal Year Ended March 31,
		2023			2022			2021
Prime Contractor			$	8,755,628	95%	$	7,864,273	94%	$	7,311,313	93%
Sub-contractor			503,283		5%	499,427		6%	547,625		7%
Total Revenue			$	9,258,911	100%	$	8,363,700	100%	$	7,858,938	100%

Schedule of Contract Assets and Liabilities

The following table summarizes the contract assets and liabilities, and accounts receivable, net of allowance recognized on the Company’s consolidated balance sheets:


	March 31,
	2023		2022
Current assets:
Accounts receivable–billed	$	551,666	$	465,322
Accounts receivable–unbilled (contract assets)	1,223,482		1,157,667
Allowance for credit losses	(318)		—
Accounts receivable, net	1,774,830		1,622,989
Other long-term assets:
Accounts receivable–unbilled (contract assets)	59,455		64,339
Total accounts receivable, net	$	1,834,285	$	1,687,328
Other current liabilities
Advance payments, billings in excess of costs incurred and deferred revenue (contract liabilities)	$	18,995	$	26,747

Accounts Payable and Other Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Payables and Accruals [Abstract]
Vendor payables	$ 597,808	$ 539,524
Accrued expenses	718,832	363,092
Total accounts payable and other accrued expenses	1,316,640	902,616
U.S. Department of Justice
Loss Contingencies [Line Items]
Estimate of possible loss	350,000
Unfavorable Regulatory Action
Loss Contingencies [Line Items]
Provision for claimed indirect costs	$ 326,700	$ 290,400

Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 80,272	$ 69,784	$ 59,844
EIP \| Stock Options
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	2,550	1,793	2,625
Annual Incentive Plan \| Restricted Stock \| Class A Common Stock
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	77,722	67,991	57,219
Cost of revenue
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	43,378	36,836	27,682
General and administrative expenses
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 36,894	$ 32,948	$ 32,162

Stockholders’ Equity - Summary of Dividends (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Equity [Abstract]
Recurring dividends	$ 235,726	$ 209,057	$ 181,066

Debt (Tables)

12 Months Ended

Mar. 31, 2023

Debt Disclosure [Abstract]

Schedule of Debt

Debt consisted of the following:


	March 31, 2023				March 31, 2022
	Interest Rate		Outstanding Balance		Interest Rate		Outstanding Balance
New Term Loan A	5.97	%	$1,629,375		—%		$—
Existing Term Loan A Loans	—	%	—		1.71	%	1,241,398
Existing Term Loan B Loans	—	%	—		2.21	%	380,321
Revolver	—	%	—		—	%	—
Senior Notes due 2028	3.88	%	700,000		3.88	%	700,000
Senior Notes due 2029	4.00	%	500,000		4.00	%	500,000
Less: Unamortized debt issuance costs and discount on debt			(17,230)				(21,647)
Total			2,812,145				2,800,072
Less: Current portion of long-term debt			(41,250)				(68,379)
Long-term debt, net of current portion			$	2,770,895			$	2,731,693

The following table summarizes interest payments made on the Company’s term loans:


	Three Months Ended March 31,				Fiscal Year Ended March 31,
	2023		2022		2023		2022
New Term Loan A	$	24,233	$	—	$	49,079	$	—
Existing Term Loan A	—		4,371		14,165		19,568
Existing Term Loan B	—		1,802		5,209		7,203
Total	$	24,233	$	6,173	$	68,453	$	26,771

Schedule of Future Debt Principal Repayments

The following table summarizes required future debt repayments:


	Payments Due By March 31,
	Total		2024		2025		2026		2027		2028		Thereafter
Term Loan A	$	1,629,375	$	41,250	$	61,875	$	82,500	$	82,500	$	1,361,250	—

Senior Notes 2028	700,000		—		—		—		—		700,000		—
Senior Notes 2029	500,000		—		—		—		—		—		500,000
Interest on indebtedness	696,790		148,150		145,143		140,476		135,326		84,132		43,563
Total	$	3,526,165	$	189,400	$	207,018	$	222,976	$	217,826	$	2,145,382	$	543,563

Schedule of Interest Expense

Interest expense on debt and debt-like instruments consisted of the following:


	Fiscal Year Ended March 31,
	2023		2022		2021
New Term Loan A	$	63,463	$	—	$	—
Existing Term Loan A Loans	—		19,570		23,541
Existing Term Loan B Loans	5,186		7,207		7,787
Revolving Credit Facility	—		25		799
Senior Notes	47,125		42,902		23,476
Amortization of Debt Issuance Cost (DIC) and Original Issue Discount (OID) (1)	4,350		4,619		4,396
Interest Rate Swaps	(1,237)		17,535		20,558
Other	963		494		713
Total Interest Expense	$	119,850	$	92,352	$	81,270

Income Taxes - Reconciliation of Potential Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Reconciliation of the beginning and ending amount of potential tax benefits
Beginning of year	$ 78,519	$ 62,742	$ 55,221
Increases in prior year position	0	2,620	5,018
Increases in current year position	470,881	13,530	12,753
Decreases in prior year position	(1,328)	(373)	0
Settlements with taxing authorities	0	0	0
Lapse of statute of limitations	(187)	0	(10,250)
End of year	$ 547,885	$ 78,519	$ 62,742

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities
Net income	$ 271,215	$ 466,577	$ 608,958
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	165,484	145,747	84,315
Noncash lease expense	55,950	55,881	53,202
Stock-based compensation expense	80,272	69,784	59,844
Deferred income taxes	(353,902)	(130,197)	231,998
Amortization of debt issuance costs	4,350	4,619	4,395
Loss on debt extinguishment	10,251	2,515	13,239
Net gains on dispositions, and other	(45,754)	(3,388)	(3,322)
Losses (gains) associated with equity method investment activities	2,116	(12,759)	0
Changes in assets and liabilities:
Accounts receivable, net	(130,187)	(154,652)	47,081
Income taxes receivable / payable	3,708	132,029	(363,396)
Prepaid expenses and other current and long-term assets	181,907	(19,489)	(5,069)
Accrued compensation and benefits	1,332	12,620	71,713
Accounts payable and other accrued expenses	409,516	194,827	(31,506)
Other current and long-term liabilities	(53,436)	(27,588)	(52,768)
Net cash provided by operating activities	602,822	736,526	718,684
Cash flows from investing activities
Purchases of property, equipment, and software	(76,130)	(79,964)	(87,210)
Payments for business acquisitions, net of cash acquired	(440,295)	(780,334)	0
Payments for cost method investments	(5,000)	(7,000)	0
Proceeds from sales of assets, net of payment	0	0	3,094
Proceeds from sale of businesses	53,409	0	0
Payment for minority investment in entity	0	0	(74,168)
Other investing activities	0	(427)	0
Net cash used in investing activities	(468,016)	(867,725)	(158,284)
Cash flows from financing activities
Proceeds from issuance of common stock	24,663	23,371	19,408
Stock option exercises	11,384	5,929	11,747
Repurchases of common stock	(223,858)	(418,859)	(313,397)
Cash dividends paid	(235,726)	(209,057)	(181,066)
Debt extinguishment costs	0	0	(8,971)
Repayments on revolving credit facility, term loans, and Senior Notes	(417,068)	(112,257)	(527,865)
Net proceeds from debt issuance	414,751	487,027	691,496
Proceeds from revolving credit facility	0	60,000	0
Other financing activities	0	0	(2,698)
Net cash used in financing activities	(425,854)	(163,846)	(311,346)
Net (decrease) increase in cash and cash equivalents	(291,048)	(295,045)	249,054
Cash and cash equivalents––beginning of year	695,910	990,955	741,901
Cash and cash equivalents––end of year	404,862	695,910	990,955
Cash paid during the period for:
Interest	115,578	64,699	60,955
Income taxes	256,394	127,069	176,711
Supplemental disclosures of non-cash investing and financing activities
Share repurchases transacted but not settled and paid	16,432	15,839	15,408
Noncash financing activities	$ 0	$ 0	$ 178

Employee Benefit Plans - Future Benefit Payments (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]
2024	$ 4,397
2025	4,655
2026	5,054
2027	5,365
2028	5,770
2029 - 2033	33,899
Total	$ 59,140

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries that are majority-owned or otherwise controlled by the Company and have been prepared in accordance with accounting principles generally accepted in the United States, or U.S. GAAP, and the rules and regulations of the U.S. Securities and Exchange Commission, or SEC. All intercompany balances and transactions have been eliminated in consolidation. The consolidated financial statements and notes of the Company include its subsidiaries and other entities over which the Company has a controlling financial interest or where the Company is a primary beneficiary. The Company uses the equity method to account for investments in entities that it does not control if it is otherwise able to exert significant influence over the entities' operating and financial policies. Equity investments in entities over which the Company does not have the ability to exercise significant influence and whose securities do not have a readily determinable fair value are carried at cost or cost net of other-than-temporary impairments. The Company’s fiscal year ends on March 31 and unless otherwise noted, references to fiscal year or fiscal are for fiscal years ended March 31.
Reclassification	Certain amounts reported in the Company's prior year consolidated financial statements have been reclassified to conform to the current year presentation.
Accounting Estimates	Accounting Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenue and expenses during the reporting periods. Areas of the consolidated financial statements where estimates may have the most significant effect include the provision for claimed indirect costs, valuation and expected lives of tangible and intangible assets, impairment of long-lived assets, accrued liabilities, revenue recognition, including the accrual of indirect costs, bonus and other incentive compensation, stock-based compensation, reserves for uncertain tax positions and valuation allowances on deferred tax assets, provisions for income taxes, postretirement obligations, collectability of receivables, and loss accruals for litigation. Actual results experienced by the Company may differ materially from management's estimates.
Revenue Recognition	Revenue Recognition The Company's revenues from contracts with customers (clients) are derived from offerings that include management and technology consulting services, analytics, digital solutions, engineering, mission operations and cyber services, substantially all with the U.S. government and its agencies, and to a lesser extent, subcontractors. The Company also serves foreign governments, as well as domestic and international commercial clients. The Company performs and generates revenue under three basic types of contracts, as described below: •Cost-Reimbursable Contracts: Cost-reimbursable contracts provide for the payment of allowable costs incurred during performance of the contract, up to a ceiling based on the amount that has been funded, plus a fixed fee or award fee. •Time-and-Materials Contracts: Under contracts in this category, we are paid a fixed hourly rate for each direct labor hour expended, and we are reimbursed for billable material costs and billable out-of-pocket expenses inclusive of allocable indirect costs. We assume the financial risk on time-and-materials contracts because our costs of performance may exceed negotiated hourly rates. •Fixed-Price Contracts: Under a fixed-price contract, we agree to perform the specified work for a predetermined price. To the extent our actual direct and allocated indirect costs decrease or increase from the estimates upon which the price was negotiated, we will generate more or less profit, respectively, or could incur a loss. The Company considers a contract with a customer to exist under Accounting Standards Codification (“ASC”) No. 606, Revenue from Contracts with Customers (“Topic 606”), when there is approval and commitment from both the Company and the customer, the rights of the parties and payment terms are identified, the contract has commercial substance, and collectability of consideration is probable. The Company also will consider whether two or more contracts entered into with the same customer should be combined and accounted for as a single contract. Furthermore, in certain transactions with commercial clients and with the U.S. government, the Company may commence providing services prior to receiving a formal approval from the customer. In these situations, the Company will consider the factors noted above, the risks associated with commencing the work and legal enforceability in determining whether a contract with the customer exists under Topic 606. Customer contracts are often modified to change the scope, price, specifications or other terms within the existing arrangement. Contract modifications are evaluated by management to determine whether the modification should be accounted for as part of the original performance obligation(s) or as a separate contract. If the modification adds distinct goods or services and increases the contract value proportionate to the stand-alone selling price of the additional goods or services, it will be accounted for as a separate contract. Generally, the Company’s contract modifications do not include goods or services which are distinct, and therefore are accounted for as part of the original performance obligation(s) with any impact on transaction price or estimated costs at completion being recorded as through a cumulative catch-up adjustment to revenue. The Company evaluates each service deliverable contracted with the customer to determine whether it represents promises to transfer distinct goods or services. Under Topic 606, these are referred to as performance obligations. One or more service deliverables often represent a single performance obligation. This evaluation requires significant judgment and the impact of combining or separating performance obligations may change the time over which revenue from the contract is recognized. The Company’s contracts generally provide a set of integrated or highly interrelated tasks or services and are therefore accounted for as a single performance obligation. However, in cases where we provide more than one distinct good or service within a customer contract, the contract is separated into individual performance obligations which are accounted for discretely. The Company's performance obligations are typically satisfied over time and revenue is generally recognized using a cost-based input method. Fixed-price contracts are typically billed to the customer using milestone or fixed monthly payments, while cost-reimbursable-plus-fee and time-and-materials contracts are typically billed to the customer at periodic intervals (e.g. monthly or weekly) as indicated by the terms of the contract. Disparities between the timing of revenue recognition and customer billings and cash collections result in net contract assets or liabilities being recognized at the end of each reporting period. Contract assets primarily consist of unbilled receivables typically resulting from revenue recognized exceeding the amount billed to the customer and right to payment is not just subject to the passage of time. Unbilled amounts represent revenues for which billings have not yet been presented to customers. These amounts are generally billed and collected within one year subject to various conditions including, without limitation, appropriated and available funding. Long-term unbilled receivables not anticipated to be billed and collected within one year, which are primarily related to retainage, holdbacks, and long-term rate settlements to be billed at contract closeout, are included in other long-term assets in the accompanying consolidated balance sheets. Contract liabilities primarily consist of advance payments, billings in excess of costs incurred and deferred revenue. Contract assets and liabilities are reported on a net contract basis at the end of each reporting period. The Company maintains an allowance for credit losses to provide for an estimate of uncollectible receivables. Changes in contract assets and contract liabilities are primarily due to the timing difference between the Company’s performance of services and payments from customers. To determine revenue recognized from contract liabilities during the reporting periods, the Company allocates revenue to individual contract liability balances and applies revenue recognized during the reporting periods first to the beginning balances of contract liabilities until the revenue exceeds the balances. Contracts with the U.S. government are generally subject to the FAR and are priced based on estimated or actual costs of providing the goods or services. The Company derives a majority of its revenue from contracts awarded through a competitive bidding process. Pricing for non-U.S. government agencies and commercial customers is based on discrete negotiations with each customer. Certain of the Company’s contracts contain award fees, incentive fees or other provisions that may increase or decrease the transaction price. These variable amounts generally are awarded upon achievement of certain performance metrics, program milestones or cost targets and may be based upon customer discretion. Management estimates variable consideration as the most likely amount that we expect to achieve based on our assessment of the variable fee provisions within the contract, prior experience with similar contracts or clients, and management’s evaluation of the performance on such contracts. The Company may perform work under a contract that has not been fully funded if the work has been authorized by management and the customer to proceed. The Company evaluates unfunded amounts as variable consideration in estimating the transaction price. We include the estimated variable consideration in our transaction price to the extent that it is probable that a significant reversal of revenue will not occur upon the ultimate settlement of the variable fee provision. In the limited number of situations where our contracts with customers contain more than one performance obligation, the Company allocates the transaction price of a contract between the performance obligations in the proportion to their respective stand-alone selling prices. The Company generally estimates the stand-alone selling price of performance obligations based on an expected cost-plus margin approach as allowed under Topic 606. Our U.S. government contracts generally contain FAR provisions that enable the customer to terminate a contract for default or for the convenience of the U.S. government. The Company recognizes revenue for each performance obligation identified within our customer contracts when, or as, the performance obligation is satisfied by transferring the promised goods or services. Revenue may either be recognized over time or at a point in time. The Company generally recognizes revenue over time as our contracts typically involve a continuous transfer of control to the customer. A continuous transfer of control under contracts with the U.S. government and its agencies is evidenced by clauses which require the Company to be paid for costs incurred plus a reasonable margin in the event that the customer unilaterally terminates the contract for convenience. For contracts where the Company recognizes revenue over time, a contract cost-based input method is generally used to measure progress towards satisfaction of the underlying performance obligation(s). Contract costs include direct costs such as materials, labor and subcontract costs, as well as indirect costs identifiable with, or allocable to, a specific contract that are expensed as incurred. The Company does not incur material incremental costs to acquire or fulfill contracts. Under a contract cost-based input method, revenue is recognized based on the proportion of contract costs incurred to the total estimated costs expected to be incurred upon completion of the underlying performance obligation. The Company generally includes both funded and unfunded portions of customer contracts in this estimation process. For interim financial reporting periods, contract revenue attributable to indirect costs is recognized based upon agreed-upon annual forward-pricing rates established with the U.S. government at the start of each fiscal year. Forward pricing rates are estimated and agreed upon between the Company and the U.S. government and represent indirect contract costs required to execute and administer contract obligations. The impact of any agreed-upon changes, or changes in the estimated annual forward-pricing rates, are recorded in the interim financial reporting period when such changes are identified. These changes relate to the interim financial reporting period differences between the actual indirect costs incurred and allocated to customer contracts compared to the estimated amounts allocated to contracts using the estimated annual forward-pricing rates established with the U.S. government. At the end of each fiscal year, estimated annual forward-pricing rates are adjusted to reported actual rates, with contract revenue attributable to indirect costs adjusted accordingly. These preliminary actual rates and their ultimate impact on contract revenue are subject to final audit and negotiation with the U.S. government, which may take place several years in the future. On certain contracts, principally time-and-materials and cost-reimbursable-plus-fee contracts, revenue is recognized using the right-to-invoice practical expedient as the Company is contractually able to invoice the customer based on the control transferred. However, we did not elect to use the practical expedient which would allow the Company to exclude contracts recognized using the right-to-invoice practical expedient from the remaining performance obligations disclosed below. Additionally, for stand-ready performance obligations to provide services under fixed-price contracts, revenue is recognized over time using a straight-line measure of progress as the control of the services is provided to the customer ratably over the term of the contract. If a contract does not meet the criteria for recognition of revenue over time, we recognize revenue at the point in time when control of the good or service is transferred to the customer. Determining a measure of progress towards the satisfaction of performance obligations requires management to make judgments that may affect the timing of revenue recognition. Many of our contracts recognize revenue under a contract cost-based input method and require an Estimate-at-Completion (“EAC”) process, which management uses to review and monitor the progress towards the completion of our performance obligations. Under this process, management considers various inputs and assumptions related to the EAC, including, but not limited to, progress towards completion, labor costs and productivity, material and subcontractor costs, and identified risks. Estimating the total cost at completion of performance obligations is subjective and requires management to make assumptions about future activity and cost drivers under the contract. Changes in these estimates can occur for a variety of reasons and, if significant, may impact the profitability of the Company’s contracts. Changes in estimates related to contracts accounted for under the EAC process are recognized in the period when such changes are made on a cumulative catch-up basis. If the estimate of contract profitability indicates an anticipated loss on a contract, the Company recognizes the total loss at the time it is identified. For fiscal 2023, 2022 and 2021, the aggregate impact of adjustments in contract estimates was not material. Remaining performance obligations represent the transaction price of exercised contracts for which work has not yet been performed, irrespective of whether funding has or has not been authorized and appropriated as of the date of exercise. Remaining performance obligations exclude negotiated but unexercised options, the unfunded value of expired contracts, and certain variable consideration which the Company does not expect to recognize as revenue.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include unrestricted cash accounts and highly liquid investments that have a maturity of three months or less at the date of purchase. The Company’s cash equivalents consist primarily of government money market funds and money market deposit accounts. The Company maintains its cash and cash equivalents in bank accounts that, at times, exceed the federally insured FDIC limits. The Company has not experienced any losses in such accounts.
Valuation of Accounts Receivable	Valuation of Accounts Receivable The Company maintains allowances for doubtful accounts against certain accounts receivables based upon the latest information regarding whether specific charges are recoverable or invoices are ultimately collectible. Assessing the recoverability of charges and collectability of customer receivables requires management judgment. The Company determines its allowance for doubtful accounts by specifically analyzing individual accounts receivable, historical bad debts, customer credit-worthiness, current economic conditions, accounts receivable aging trends for billed receivables, availability of funding, compliance with contractual terms and conditions, client satisfaction with work performed, and other factors impacting accounts receivables. Valuation reserves are periodically re-evaluated and adjusted as more information about the ultimate recoverability and collectability of accounts receivable becomes available. Upon determination that a receivable is uncollectible, the receivable balance and any associated reserve are written off.
Concentrations of Credit Risk	Concentrations of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash equivalents and accounts receivable. The Company’s cash equivalents are generally invested in U.S. government money market funds and money market deposit accounts. The Company believes that credit risk for accounts receivable is limited as the receivables are primarily with the U.S. government.
Property and Equipment	Property and EquipmentProperty and equipment are recorded at cost, and the balances are presented net of accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets. Furniture and equipment is depreciated over five to ten years, and computer equipment is depreciated over four years. Leasehold improvements are amortized over the shorter of the useful life of the asset or the lease term. Maintenance and repairs are charged to expense as incurred.
Business Combinations	Business CombinationsThe accounting for the Company’s business combinations consists of allocating the purchase price to tangible and intangible assets acquired and liabilities assumed based on their estimated fair values, with the excess recorded as goodwill. The Company has up to one year from the acquisition date to use information as of each acquisition date to adjust the fair value of the acquired assets and liabilities which may result in material changes to their recorded values with an offsetting adjustment to goodwill.
Intangible Assets	Intangible AssetsIntangible assets primarily consist of programs and contracts assets, channel relationships, the Company's trade name, customer relationships, software and other amortizable intangible assets. The Company capitalizes the following costs associated with developing internal-use computer software pertaining to upgrades in our business and financial systems: (i) external direct costs of materials and services consumed in developing or obtaining internal-use computer software and (ii) certain payroll and payroll-related costs for Company employees who are directly associated with the development of internal-use software, to the extent of the time spent directly on the project. Programs and contract assets, channel relationships, and other amortizable intangible assets are generally amortized on an accelerated basis over the expected life based on projected future cash flows of approximately two to fourteen years. Software purchased or developed for internal use is amortized over one to ten years. The Company's trade name intangible asset is not amortized, but is tested for impairment on at least an annual basis as of January 1 and more frequently if interim indicators of impairment exist. The trade name is considered to be impaired if the carrying value exceeds its estimated fair value. The Company uses the relief from royalty method to estimate the fair value. The fair value of the asset is the present value of the license fees avoided by owning the asset, or the royalty savings.
Goodwill	GoodwillThe Company assesses goodwill for impairment on at least an annual basis on January 1 unless interim indicators of impairment exist. Goodwill is considered to be impaired when the net book value of a reporting unit exceeds its estimated fair value. The Company operates as a single operating segment and as a single reporting unit for the purpose of evaluating goodwill. As of January 1, 2023, the Company performed its annual impairment test of goodwill by comparing the fair value of the Company (based on market capitalization) to the carrying value of the Company's net equity, and concluded that the fair value of the reporting unit was significantly greater than the carrying amount.
Long-Lived Assets	Long-Lived AssetsThe Company reviews its long-lived assets, including property and equipment, amortizable intangible assets, and right-of-use (“ROU”) assets, for impairment whenever events or changes in circumstances indicate that the carrying amounts of the assets may not be fully recoverable. If the total of the expected undiscounted future net cash flows is less than the carrying amount of the asset, a loss is recognized for any excess of the carrying amount over the fair value of the asset.
Leases	Leases At contract inception, the Company determines whether the contract is, or contains, a lease, which exists when the contract conveys the right to control the use of identified property or equipment for a period of time in exchange for consideration. Operating lease balances are included in operating lease ROU assets, operating lease liabilities, and operating lease liabilities, net of current portion in our consolidated balance sheet. Cash payments arising from operating leases are classified within operating activities in the consolidated statement of cash flows. As of March 31, 2023, the Company had no finance leases. The Company's leases are generally for facilities and office space and the Company recognizes ROU assets and lease liabilities at the lease commencement date for those arrangements. The initial lease liability is equal to the present value of the future minimum lease payments over the lease term. The initial measurement of the ROU asset is equal to the initial lease liability plus any initial direct costs and prepaid lease payments, less any lease incentives. At the lease commencement date, the Company estimates its collateralized incremental borrowing rate based on publicly available yields adjusted for Company-specific considerations and the Company's varying lease terms in determining the present value of future payments. Certain of the Company’s leases contain options to renew or to terminate the lease which are included in the determination of the ROU assets and lease liabilities when it is reasonably certain that the Company will exercise the option. The Company's leases may also include variable lease payments, such as an escalation clause based on consumer price index rates, maintenance costs, and utilities. Variable lease payments that depend on an index or a rate are included in the determination of ROU assets and lease liabilities using the index or rate at the lease commencement date, whereas variable lease-related payments that do not depend on an index or rate are recorded as lease expense in the period incurred. ROU assets are evaluated for impairment in a manner consistent with the treatment of other long-lived assets. As permitted under Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842) (“Topic 842”), the Company elected not to recognize ROU assets and lease liabilities for leases with an initial term of 12 months or less; lease expense from these leases is recognized on a straight-line basis over the lease term. As further permitted under Topic 842, for all material classes of leased assets, the Company elected to not separate lease components from non-lease components, and instead account for both components as a single lease component.
Income Taxes	Income Taxes The Company provides for income taxes as a “C” corporation on income earned from operations. The Company is subject to federal, state, and foreign taxation in various jurisdictions. Deferred tax assets and liabilities are recorded to recognize the expected future tax benefits or costs of events that have been, or will be, reported in different years for financial statement purposes than for tax purposes. Deferred tax assets and liabilities are computed based on the difference between the consolidated financial statement carrying amount and tax basis of assets and liabilities using enacted tax rates and laws for the years in which these items are expected to reverse. If management determines that some portion or all of a deferred tax asset is not “more likely than not” to be realized, a valuation allowance is recorded as a component of the income tax provision to reduce the deferred tax asset to an appropriate level in that period. In determining the need for a valuation allowance, management considers all positive and negative evidence, including historical earnings, projected future taxable income, future reversals of existing taxable temporary differences, taxable income in prior carryback periods, and prudent, feasible tax-planning strategies. The Company periodically assesses its tax positions for all periods open to examination by tax authorities based on the latest available information. Those positions are evaluated to determine whether they will more likely than not be sustained upon examination by the Internal Revenue Service (“IRS”) or other taxing authorities. The Company reserves for these uncertain tax positions related to unrecognized income tax benefits where it is not more likely than not that the Company’s tax position will be sustained on examination and settlement with the various taxing authorities. Liabilities for unrecognized tax benefits are measured based on the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement. These unrecognized tax benefits are recorded as a component of income tax expense. As uncertain tax positions in periods open to examination are closed out, or as new information becomes available, the resulting change is reflected in the recorded liability and income tax expense. Penalties and interest recognized related to the reserves for uncertain tax positions are recorded as a component of income tax expense.
Comprehensive Income	Comprehensive Income Comprehensive income is the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources, and is presented in the consolidated statements of comprehensive income. Accumulated other comprehensive loss as of March 31, 2023 and 2022 consisted of net unrealized losses on the Company’s defined and postretirement benefit plans and unrealized gains or losses on interest rate swaps designated as cash flow hedges.
Stock-Based Compensation	Stock-Based Compensation Stock-based compensation to employees is recognized in the consolidated statements of operations based on the grant date fair values with the expense for time vested awards recognized on an accelerated basis over the vesting period. The Company estimates forfeitures anticipated to occur during the vesting period for the purposes of recognizing costs associated with stock-based compensation. The expense for performance awards is estimated at each reporting date using management's expectation of the probable achievement of the specified performance criteria and is recognized straight line over the vesting period. The Company uses the Black-Scholes option-pricing model to determine the fair value of its option awards at the time of grant.
Defined Contribution Plan and Other Post-Retirement Benefits	Defined Contribution Plan and Other Post-Retirement Benefits The Company recognizes the underfunded status of defined contribution plans and other post-retirement benefits on the consolidated balance sheets within other long-term liabilities. Gains and losses, and prior service costs and credits that have not yet been recognized through net periodic benefit cost are recognized in accumulated other comprehensive loss, net of tax effects, and will be amortized as a component of net periodic cost in future periods. The measurement date, the date at which the benefit obligations are measured, is the Company’s fiscal year-end.
Self-Funded Medical Plans	Self-Funded Medical Plans The Company maintains self-funded medical insurance. Self-funded plans include Consumer Driven Health Plans with a Health Savings Account option and traditional choice plans. Further, self-funded plans also include prescription drug and dental benefits. The Company records an incurred but unreported claim liability in the accrued compensation and benefits line of the consolidated balance sheets for self-funded plans based on an actuarial valuation. The estimate of the incurred but unreported claim liability was provided by a third-party valuation firm, primarily based on claims and participant data for the medical, dental, and pharmacy related costs.
Fair Value Measurements	Fair Value Measurements Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In determining fair value, the Company considers the principal or most advantageous market in which the asset or liability would transact, and if necessary, considers assumptions that market participants would use when pricing the asset or liability. The accounting standard for fair value measurements establishes a three-tier value hierarchy, which prioritizes the inputs used in measuring fair value as follows: observable inputs such as quoted prices in active markets (“Level 1”); inputs other than quoted prices in active markets that are observable either directly or indirectly (“Level 2”); and unobservable inputs in which there is little or no market data, which requires the Company to develop its own assumptions (“Level 3”). A financial instrument's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement.
Recently Adopted Accounting Pronouncements and Recent Accounting Pronouncements Not Yet Adopted	Recently Adopted Accounting Pronouncements In October 2021, the Financial Accounting Standards Board (“FASB”) issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (“Topic 805”), which amends the accounting for acquired revenue contracts with customers in a business combination to address recognition of an acquired contract liability and payment terms, and their effect on subsequent revenue recognized by the acquirer. Topic 805 is effective for annual periods beginning after December 15, 2022 on a prospective basis. Early adoption is permitted. The Company early adopted the requirements of Topic 805 to apply the amendments prospectively to all business combinations that occurred on or after April 1, 2022. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“Topic 848”). The guidance is intended to provide relief for entities impacted by reference rate reform. Topic 848 contains provisions and optional accounting expedients designed to simplify requirements around the designation of hedging relationships, probability assessments of hedged forecasted transactions, and accounting for modifications of contracts that refer to the London Interbank Offered Rate (“LIBOR”) or other rates affected by reference rate reform. The guidance is elective and is effective on the date of issuance. Topic 848 is applied prospectively to contract modifications and as of the effective date for existing and new eligible hedging relationships. The Company has elected to apply the hedge accounting practical expedient related to the probability of hedged future LIBOR-indexed cash flows and continued its quantitative method of assessing subsequent hedge effectiveness in the fourth quarter of fiscal 2020. Further, during the second quarter of fiscal year 2023, the Company transitioned its term loans from LIBOR-indexed interest payments to Term SOFR-indexed interest payments in connection with the Ninth Amendment of the Credit Agreement. For its interest rate swaps designated as cash flow hedges, the Company elected to apply certain of the accounting expedients to assume that the reference rates, which hedged forecasted transactions will be based on, match the LIBOR-indexed rates used in the Company's interest rate swaps consistent with past presentation. The Company continues to evaluate the impact of Topic 848 and may apply other elections, as applicable. The adoption of this guidance did not have a material impact on the consolidated financial statements and disclosures. Recent Accounting Pronouncements Not Yet Adopted Other recent accounting pronouncements issued during fiscal 2023 and through the filing date are not expected to have a material impact on the Company's present or historical consolidated financial statements.

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Mar. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries that are majority-owned or otherwise controlled by the Company and have been prepared in accordance with accounting principles generally accepted in the United States, or U.S. GAAP, and the rules and regulations of the U.S. Securities and Exchange Commission, or SEC. All intercompany balances and transactions have been eliminated in consolidation. The consolidated financial statements and notes of the Company include its subsidiaries and other entities over which the Company has a controlling financial interest or where the Company is a primary beneficiary. The Company uses the equity method to account for investments in entities that it does not control if it is otherwise able to exert significant influence over the entities' operating and financial policies. Equity investments in entities over which the Company does not have the ability to exercise significant influence and whose securities do not have a readily determinable fair value are carried at cost or cost net of other-than-temporary impairments. The Company’s fiscal year ends on March 31 and unless otherwise noted, references to fiscal year or fiscal are for fiscal years ended March 31. The accompanying consolidated financial statements present the financial position of the Company as of March 31, 2023 and 2022 and the Company’s results of operations for fiscal 2023, 2022, and 2021. Certain amounts reported in the Company's prior year consolidated financial statements have been reclassified to conform to the current year presentation. Accounting Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenue and expenses during the reporting periods. Areas of the consolidated financial statements where estimates may have the most significant effect include the provision for claimed indirect costs, valuation and expected lives of tangible and intangible assets, impairment of long-lived assets, accrued liabilities, revenue recognition, including the accrual of indirect costs, bonus and other incentive compensation, stock-based compensation, reserves for uncertain tax positions and valuation allowances on deferred tax assets, provisions for income taxes, postretirement obligations, collectability of receivables, and loss accruals for litigation. Actual results experienced by the Company may differ materially from management's estimates. Revenue Recognition The Company's revenues from contracts with customers (clients) are derived from offerings that include management and technology consulting services, analytics, digital solutions, engineering, mission operations and cyber services, substantially all with the U.S. government and its agencies, and to a lesser extent, subcontractors. The Company also serves foreign governments, as well as domestic and international commercial clients. The Company performs and generates revenue under three basic types of contracts, as described below: •Cost-Reimbursable Contracts: Cost-reimbursable contracts provide for the payment of allowable costs incurred during performance of the contract, up to a ceiling based on the amount that has been funded, plus a fixed fee or award fee. •Time-and-Materials Contracts: Under contracts in this category, we are paid a fixed hourly rate for each direct labor hour expended, and we are reimbursed for billable material costs and billable out-of-pocket expenses inclusive of allocable indirect costs. We assume the financial risk on time-and-materials contracts because our costs of performance may exceed negotiated hourly rates. •Fixed-Price Contracts: Under a fixed-price contract, we agree to perform the specified work for a predetermined price. To the extent our actual direct and allocated indirect costs decrease or increase from the estimates upon which the price was negotiated, we will generate more or less profit, respectively, or could incur a loss. The Company considers a contract with a customer to exist under Accounting Standards Codification (“ASC”) No. 606, Revenue from Contracts with Customers (“Topic 606”), when there is approval and commitment from both the Company and the customer, the rights of the parties and payment terms are identified, the contract has commercial substance, and collectability of consideration is probable. The Company also will consider whether two or more contracts entered into with the same customer should be combined and accounted for as a single contract. Furthermore, in certain transactions with commercial clients and with the U.S. government, the Company may commence providing services prior to receiving a formal approval from the customer. In these situations, the Company will consider the factors noted above, the risks associated with commencing the work and legal enforceability in determining whether a contract with the customer exists under Topic 606. Customer contracts are often modified to change the scope, price, specifications or other terms within the existing arrangement. Contract modifications are evaluated by management to determine whether the modification should be accounted for as part of the original performance obligation(s) or as a separate contract. If the modification adds distinct goods or services and increases the contract value proportionate to the stand-alone selling price of the additional goods or services, it will be accounted for as a separate contract. Generally, the Company’s contract modifications do not include goods or services which are distinct, and therefore are accounted for as part of the original performance obligation(s) with any impact on transaction price or estimated costs at completion being recorded as through a cumulative catch-up adjustment to revenue. The Company evaluates each service deliverable contracted with the customer to determine whether it represents promises to transfer distinct goods or services. Under Topic 606, these are referred to as performance obligations. One or more service deliverables often represent a single performance obligation. This evaluation requires significant judgment and the impact of combining or separating performance obligations may change the time over which revenue from the contract is recognized. The Company’s contracts generally provide a set of integrated or highly interrelated tasks or services and are therefore accounted for as a single performance obligation. However, in cases where we provide more than one distinct good or service within a customer contract, the contract is separated into individual performance obligations which are accounted for discretely. The Company's performance obligations are typically satisfied over time and revenue is generally recognized using a cost-based input method. Fixed-price contracts are typically billed to the customer using milestone or fixed monthly payments, while cost-reimbursable-plus-fee and time-and-materials contracts are typically billed to the customer at periodic intervals (e.g. monthly or weekly) as indicated by the terms of the contract. Disparities between the timing of revenue recognition and customer billings and cash collections result in net contract assets or liabilities being recognized at the end of each reporting period. Contract assets primarily consist of unbilled receivables typically resulting from revenue recognized exceeding the amount billed to the customer and right to payment is not just subject to the passage of time. Unbilled amounts represent revenues for which billings have not yet been presented to customers. These amounts are generally billed and collected within one year subject to various conditions including, without limitation, appropriated and available funding. Long-term unbilled receivables not anticipated to be billed and collected within one year, which are primarily related to retainage, holdbacks, and long-term rate settlements to be billed at contract closeout, are included in other long-term assets in the accompanying consolidated balance sheets. Contract liabilities primarily consist of advance payments, billings in excess of costs incurred and deferred revenue. Contract assets and liabilities are reported on a net contract basis at the end of each reporting period. The Company maintains an allowance for credit losses to provide for an estimate of uncollectible receivables. Changes in contract assets and contract liabilities are primarily due to the timing difference between the Company’s performance of services and payments from customers. To determine revenue recognized from contract liabilities during the reporting periods, the Company allocates revenue to individual contract liability balances and applies revenue recognized during the reporting periods first to the beginning balances of contract liabilities until the revenue exceeds the balances. Contracts with the U.S. government are generally subject to the FAR and are priced based on estimated or actual costs of providing the goods or services. The Company derives a majority of its revenue from contracts awarded through a competitive bidding process. Pricing for non-U.S. government agencies and commercial customers is based on discrete negotiations with each customer. Certain of the Company’s contracts contain award fees, incentive fees or other provisions that may increase or decrease the transaction price. These variable amounts generally are awarded upon achievement of certain performance metrics, program milestones or cost targets and may be based upon customer discretion. Management estimates variable consideration as the most likely amount that we expect to achieve based on our assessment of the variable fee provisions within the contract, prior experience with similar contracts or clients, and management’s evaluation of the performance on such contracts. The Company may perform work under a contract that has not been fully funded if the work has been authorized by management and the customer to proceed. The Company evaluates unfunded amounts as variable consideration in estimating the transaction price. We include the estimated variable consideration in our transaction price to the extent that it is probable that a significant reversal of revenue will not occur upon the ultimate settlement of the variable fee provision. In the limited number of situations where our contracts with customers contain more than one performance obligation, the Company allocates the transaction price of a contract between the performance obligations in the proportion to their respective stand-alone selling prices. The Company generally estimates the stand-alone selling price of performance obligations based on an expected cost-plus margin approach as allowed under Topic 606. Our U.S. government contracts generally contain FAR provisions that enable the customer to terminate a contract for default or for the convenience of the U.S. government. The Company recognizes revenue for each performance obligation identified within our customer contracts when, or as, the performance obligation is satisfied by transferring the promised goods or services. Revenue may either be recognized over time or at a point in time. The Company generally recognizes revenue over time as our contracts typically involve a continuous transfer of control to the customer. A continuous transfer of control under contracts with the U.S. government and its agencies is evidenced by clauses which require the Company to be paid for costs incurred plus a reasonable margin in the event that the customer unilaterally terminates the contract for convenience. For contracts where the Company recognizes revenue over time, a contract cost-based input method is generally used to measure progress towards satisfaction of the underlying performance obligation(s). Contract costs include direct costs such as materials, labor and subcontract costs, as well as indirect costs identifiable with, or allocable to, a specific contract that are expensed as incurred. The Company does not incur material incremental costs to acquire or fulfill contracts. Under a contract cost-based input method, revenue is recognized based on the proportion of contract costs incurred to the total estimated costs expected to be incurred upon completion of the underlying performance obligation. The Company generally includes both funded and unfunded portions of customer contracts in this estimation process. For interim financial reporting periods, contract revenue attributable to indirect costs is recognized based upon agreed-upon annual forward-pricing rates established with the U.S. government at the start of each fiscal year. Forward pricing rates are estimated and agreed upon between the Company and the U.S. government and represent indirect contract costs required to execute and administer contract obligations. The impact of any agreed-upon changes, or changes in the estimated annual forward-pricing rates, are recorded in the interim financial reporting period when such changes are identified. These changes relate to the interim financial reporting period differences between the actual indirect costs incurred and allocated to customer contracts compared to the estimated amounts allocated to contracts using the estimated annual forward-pricing rates established with the U.S. government. At the end of each fiscal year, estimated annual forward-pricing rates are adjusted to reported actual rates, with contract revenue attributable to indirect costs adjusted accordingly. These preliminary actual rates and their ultimate impact on contract revenue are subject to final audit and negotiation with the U.S. government, which may take place several years in the future. On certain contracts, principally time-and-materials and cost-reimbursable-plus-fee contracts, revenue is recognized using the right-to-invoice practical expedient as the Company is contractually able to invoice the customer based on the control transferred. However, we did not elect to use the practical expedient which would allow the Company to exclude contracts recognized using the right-to-invoice practical expedient from the remaining performance obligations disclosed below. Additionally, for stand-ready performance obligations to provide services under fixed-price contracts, revenue is recognized over time using a straight-line measure of progress as the control of the services is provided to the customer ratably over the term of the contract. If a contract does not meet the criteria for recognition of revenue over time, we recognize revenue at the point in time when control of the good or service is transferred to the customer. Determining a measure of progress towards the satisfaction of performance obligations requires management to make judgments that may affect the timing of revenue recognition. Many of our contracts recognize revenue under a contract cost-based input method and require an Estimate-at-Completion (“EAC”) process, which management uses to review and monitor the progress towards the completion of our performance obligations. Under this process, management considers various inputs and assumptions related to the EAC, including, but not limited to, progress towards completion, labor costs and productivity, material and subcontractor costs, and identified risks. Estimating the total cost at completion of performance obligations is subjective and requires management to make assumptions about future activity and cost drivers under the contract. Changes in these estimates can occur for a variety of reasons and, if significant, may impact the profitability of the Company’s contracts. Changes in estimates related to contracts accounted for under the EAC process are recognized in the period when such changes are made on a cumulative catch-up basis. If the estimate of contract profitability indicates an anticipated loss on a contract, the Company recognizes the total loss at the time it is identified. For fiscal 2023, 2022 and 2021, the aggregate impact of adjustments in contract estimates was not material. Remaining performance obligations represent the transaction price of exercised contracts for which work has not yet been performed, irrespective of whether funding has or has not been authorized and appropriated as of the date of exercise. Remaining performance obligations exclude negotiated but unexercised options, the unfunded value of expired contracts, and certain variable consideration which the Company does not expect to recognize as revenue. Cash and Cash Equivalents Cash and cash equivalents include unrestricted cash accounts and highly liquid investments that have a maturity of three months or less at the date of purchase. The Company’s cash equivalents consist primarily of government money market funds and money market deposit accounts. The Company maintains its cash and cash equivalents in bank accounts that, at times, exceed the federally insured FDIC limits. The Company has not experienced any losses in such accounts. Valuation of Accounts Receivable The Company maintains allowances for doubtful accounts against certain accounts receivables based upon the latest information regarding whether specific charges are recoverable or invoices are ultimately collectible. Assessing the recoverability of charges and collectability of customer receivables requires management judgment. The Company determines its allowance for doubtful accounts by specifically analyzing individual accounts receivable, historical bad debts, customer credit-worthiness, current economic conditions, accounts receivable aging trends for billed receivables, availability of funding, compliance with contractual terms and conditions, client satisfaction with work performed, and other factors impacting accounts receivables. Valuation reserves are periodically re-evaluated and adjusted as more information about the ultimate recoverability and collectability of accounts receivable becomes available. Upon determination that a receivable is uncollectible, the receivable balance and any associated reserve are written off. Concentrations of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash equivalents and accounts receivable. The Company’s cash equivalents are generally invested in U.S. government money market funds and money market deposit accounts. The Company believes that credit risk for accounts receivable is limited as the receivables are primarily with the U.S. government. Property and Equipment Property and equipment are recorded at cost, and the balances are presented net of accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets. Furniture and equipment is depreciated over five to ten years, and computer equipment is depreciated over four years. Leasehold improvements are amortized over the shorter of the useful life of the asset or the lease term. Maintenance and repairs are charged to expense as incurred. Business Combinations The accounting for the Company’s business combinations consists of allocating the purchase price to tangible and intangible assets acquired and liabilities assumed based on their estimated fair values, with the excess recorded as goodwill. The Company has up to one year from the acquisition date to use information as of each acquisition date to adjust the fair value of the acquired assets and liabilities which may result in material changes to their recorded values with an offsetting adjustment to goodwill. Intangible Assets Intangible assets primarily consist of programs and contracts assets, channel relationships, the Company's trade name, customer relationships, software and other amortizable intangible assets. The Company capitalizes the following costs associated with developing internal-use computer software pertaining to upgrades in our business and financial systems: (i) external direct costs of materials and services consumed in developing or obtaining internal-use computer software and (ii) certain payroll and payroll-related costs for Company employees who are directly associated with the development of internal-use software, to the extent of the time spent directly on the project. Programs and contract assets, channel relationships, and other amortizable intangible assets are generally amortized on an accelerated basis over the expected life based on projected future cash flows of approximately two to fourteen years. Software purchased or developed for internal use is amortized over one to ten years. The Company's trade name intangible asset is not amortized, but is tested for impairment on at least an annual basis as of January 1 and more frequently if interim indicators of impairment exist. The trade name is considered to be impaired if the carrying value exceeds its estimated fair value. The Company uses the relief from royalty method to estimate the fair value. The fair value of the asset is the present value of the license fees avoided by owning the asset, or the royalty savings. During the fiscal years ended March 31, 2023, 2022, and 2021, the Company did not record any impairment of intangible assets. Goodwill The Company assesses goodwill for impairment on at least an annual basis on January 1 unless interim indicators of impairment exist. Goodwill is considered to be impaired when the net book value of a reporting unit exceeds its estimated fair value. The Company operates as a single operating segment and as a single reporting unit for the purpose of evaluating goodwill. As of January 1, 2023, the Company performed its annual impairment test of goodwill by comparing the fair value of the Company (based on market capitalization) to the carrying value of the Company's net equity, and concluded that the fair value of the reporting unit was significantly greater than the carrying amount. During the fiscal years ended March 31, 2023, 2022, and 2021, the Company did not record any impairment of goodwill. Long-Lived Assets The Company reviews its long-lived assets, including property and equipment, amortizable intangible assets, and right-of-use (“ROU”) assets, for impairment whenever events or changes in circumstances indicate that the carrying amounts of the assets may not be fully recoverable. If the total of the expected undiscounted future net cash flows is less than the carrying amount of the asset, a loss is recognized for any excess of the carrying amount over the fair value of the asset. During the fiscal years ended March 31, 2023, 2022, and 2021, the Company did not record any material impairment charges. Leases At contract inception, the Company determines whether the contract is, or contains, a lease, which exists when the contract conveys the right to control the use of identified property or equipment for a period of time in exchange for consideration. Operating lease balances are included in operating lease ROU assets, operating lease liabilities, and operating lease liabilities, net of current portion in our consolidated balance sheet. Cash payments arising from operating leases are classified within operating activities in the consolidated statement of cash flows. As of March 31, 2023, the Company had no finance leases. The Company's leases are generally for facilities and office space and the Company recognizes ROU assets and lease liabilities at the lease commencement date for those arrangements. The initial lease liability is equal to the present value of the future minimum lease payments over the lease term. The initial measurement of the ROU asset is equal to the initial lease liability plus any initial direct costs and prepaid lease payments, less any lease incentives. At the lease commencement date, the Company estimates its collateralized incremental borrowing rate based on publicly available yields adjusted for Company-specific considerations and the Company's varying lease terms in determining the present value of future payments. Certain of the Company’s leases contain options to renew or to terminate the lease which are included in the determination of the ROU assets and lease liabilities when it is reasonably certain that the Company will exercise the option. The Company's leases may also include variable lease payments, such as an escalation clause based on consumer price index rates, maintenance costs, and utilities. Variable lease payments that depend on an index or a rate are included in the determination of ROU assets and lease liabilities using the index or rate at the lease commencement date, whereas variable lease-related payments that do not depend on an index or rate are recorded as lease expense in the period incurred. ROU assets are evaluated for impairment in a manner consistent with the treatment of other long-lived assets. As permitted under Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842) (“Topic 842”), the Company elected not to recognize ROU assets and lease liabilities for leases with an initial term of 12 months or less; lease expense from these leases is recognized on a straight-line basis over the lease term. As further permitted under Topic 842, for all material classes of leased assets, the Company elected to not separate lease components from non-lease components, and instead account for both components as a single lease component. As of March 31, 2023, the Company did not have any lease agreements with residual value guarantees or material restrictions or covenants. Income Taxes The Company provides for income taxes as a “C” corporation on income earned from operations. The Company is subject to federal, state, and foreign taxation in various jurisdictions. Deferred tax assets and liabilities are recorded to recognize the expected future tax benefits or costs of events that have been, or will be, reported in different years for financial statement purposes than for tax purposes. Deferred tax assets and liabilities are computed based on the difference between the consolidated financial statement carrying amount and tax basis of assets and liabilities using enacted tax rates and laws for the years in which these items are expected to reverse. If management determines that some portion or all of a deferred tax asset is not “more likely than not” to be realized, a valuation allowance is recorded as a component of the income tax provision to reduce the deferred tax asset to an appropriate level in that period. In determining the need for a valuation allowance, management considers all positive and negative evidence, including historical earnings, projected future taxable income, future reversals of existing taxable temporary differences, taxable income in prior carryback periods, and prudent, feasible tax-planning strategies. The Company periodically assesses its tax positions for all periods open to examination by tax authorities based on the latest available information. Those positions are evaluated to determine whether they will more likely than not be sustained upon examination by the Internal Revenue Service (“IRS”) or other taxing authorities. The Company reserves for these uncertain tax positions related to unrecognized income tax benefits where it is not more likely than not that the Company’s tax position will be sustained on examination and settlement with the various taxing authorities. Liabilities for unrecognized tax benefits are measured based on the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement. These unrecognized tax benefits are recorded as a component of income tax expense. As uncertain tax positions in periods open to examination are closed out, or as new information becomes available, the resulting change is reflected in the recorded liability and income tax expense. Penalties and interest recognized related to the reserves for uncertain tax positions are recorded as a component of income tax expense. Comprehensive Income Comprehensive income is the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources, and is presented in the consolidated statements of comprehensive income. Accumulated other comprehensive loss as of March 31, 2023 and 2022 consisted of net unrealized losses on the Company’s defined and postretirement benefit plans and unrealized gains or losses on interest rate swaps designated as cash flow hedges. Stock-Based Compensation Stock-based compensation to employees is recognized in the consolidated statements of operations based on the grant date fair values with the expense for time vested awards recognized on an accelerated basis over the vesting period. The Company estimates forfeitures anticipated to occur during the vesting period for the purposes of recognizing costs associated with stock-based compensation. The expense for performance awards is estimated at each reporting date using management's expectation of the probable achievement of the specified performance criteria and is recognized straight line over the vesting period. The Company uses the Black-Scholes option-pricing model to determine the fair value of its option awards at the time of grant. Defined Contribution Plan and Other Post-Retirement Benefits The Company recognizes the underfunded status of defined contribution plans and other post-retirement benefits on the consolidated balance sheets within other long-term liabilities. Gains and losses, and prior service costs and credits that have not yet been recognized through net periodic benefit cost are recognized in accumulated other comprehensive loss, net of tax effects, and will be amortized as a component of net periodic cost in future periods. The measurement date, the date at which the benefit obligations are measured, is the Company’s fiscal year-end. Self-Funded Medical Plans The Company maintains self-funded medical insurance. Self-funded plans include Consumer Driven Health Plans with a Health Savings Account option and traditional choice plans. Further, self-funded plans also include prescription drug and dental benefits. The Company records an incurred but unreported claim liability in the accrued compensation and benefits line of the consolidated balance sheets for self-funded plans based on an actuarial valuation. The estimate of the incurred but unreported claim liability was provided by a third-party valuation firm, primarily based on claims and participant data for the medical, dental, and pharmacy related costs. Fair Value Measurements Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In determining fair value, the Company considers the principal or most advantageous market in which the asset or liability would transact, and if necessary, considers assumptions that market participants would use when pricing the asset or liability. The accounting standard for fair value measurements establishes a three-tier value hierarchy, which prioritizes the inputs used in measuring fair value as follows: observable inputs such as quoted prices in active markets (“Level 1”); inputs other than quoted prices in active markets that are observable either directly or indirectly (“Level 2”); and unobservable inputs in which there is little or no market data, which requires the Company to develop its own assumptions (“Level 3”). A financial instrument's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. Recently Adopted Accounting Pronouncements In October 2021, the Financial Accounting Standards Board (“FASB”) issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (“Topic 805”), which amends the accounting for acquired revenue contracts with customers in a business combination to address recognition of an acquired contract liability and payment terms, and their effect on subsequent revenue recognized by the acquirer. Topic 805 is effective for annual periods beginning after December 15, 2022 on a prospective basis. Early adoption is permitted. The Company early adopted the requirements of Topic 805 to apply the amendments prospectively to all business combinations that occurred on or after April 1, 2022. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“Topic 848”). The guidance is intended to provide relief for entities impacted by reference rate reform. Topic 848 contains provisions and optional accounting expedients designed to simplify requirements around the designation of hedging relationships, probability assessments of hedged forecasted transactions, and accounting for modifications of contracts that refer to the London Interbank Offered Rate (“LIBOR”) or other rates affected by reference rate reform. The guidance is elective and is effective on the date of issuance. Topic 848 is applied prospectively to contract modifications and as of the effective date for existing and new eligible hedging relationships. The Company has elected to apply the hedge accounting practical expedient related to the probability of hedged future LIBOR-indexed cash flows and continued its quantitative method of assessing subsequent hedge effectiveness in the fourth quarter of fiscal 2020. Further, during the second quarter of fiscal year 2023, the Company transitioned its term loans from LIBOR-indexed interest payments to Term SOFR-indexed interest payments in connection with the Ninth Amendment of the Credit Agreement. For its interest rate swaps designated as cash flow hedges, the Company elected to apply certain of the accounting expedients to assume that the reference rates, which hedged forecasted transactions will be based on, match the LIBOR-indexed rates used in the Company's interest rate swaps consistent with past presentation. The Company continues to evaluate the impact of Topic 848 and may apply other elections, as applicable. The adoption of this guidance did not have a material impact on the consolidated financial statements and disclosures. Recent Accounting Pronouncements Not Yet Adopted Other recent accounting pronouncements issued during fiscal 2023 and through the filing date are not expected to have a material impact on the Company's present or historical consolidated financial statements.

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2023	Mar. 31, 2022
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	600,000,000	600,000,000
Common stock, issued (in shares)	165,872,332	164,372,545
Common stock, outstanding (in shares)	131,637,588	132,584,348
End of period (in shares)	34,234,744	31,788,197

Derivatives - Schedule of Effect of Derivatives on Financial Statements (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Derivatives designated as cash flow hedges
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Reclassification from AOCI, tax	$ 300	$ (4,600)	$ (5,400)
Interest Rate Swap \| Designated as Hedging Instrument \| Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of Gain (Loss) Recognized in AOCI on Derivatives	14,919	20,352	(2,071)
Amount of Gain (Loss) Reclassified from AOCI into Income	$ 1,237	$ (17,535)	$ (20,558)

Revenue - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Revenue - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenue, amount of remaining performance obligation	$ 7,900.0	$ 7,400.0
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Provision (benefit) for credit losses	(2.0)	(1.5)	$ (2.6)
Contract with customer, liability, revenue recognized	$ 24.4	$ 14.9	$ 24.5
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation (as per percent)	75.00%
Remaining performance obligation, expected timing, period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation (as per percent)	85.00%
Remaining performance obligation, expected timing, period	24 months

Debt - Narrative (Details) - USD ($)				3 Months Ended	12 Months Ended
Debt - Narrative (Details) - USD ($)	Sep. 07, 2022	Jun. 17, 2021	Aug. 24, 2020	Mar. 31, 2023	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Debt Instrument [Line Items]
Amortization of debt issuance cost					$ 4,350,000	$ 4,619,000	$ 4,396,000
Cash Flow Hedging \| Designated as Hedging Instrument \| Interest Rate Swap
Debt Instrument [Line Items]
Notional amount of interest rate swaps				$ 700,000,000	700,000,000
Cash Flow Hedging \| Designated as Hedging Instrument \| Interest Rate Swap \| Active Hedges [Member]
Debt Instrument [Line Items]
Notional amount of interest rate swaps				550,000,000	550,000,000
Cash Flow Hedging \| Designated as Hedging Instrument \| Interest Rate Swap \| Forward-Starting Hedges [Member]
Debt Instrument [Line Items]
Notional amount of interest rate swaps				150,000,000	150,000,000
Third Party
Debt Instrument [Line Items]
Amortization of debt issuance cost				6,900,000	6,900,000
New Revolving Commitments \| Minimum
Debt Instrument [Line Items]
Commitment fee percentage	0.10%
New Revolving Commitments \| Maximum
Debt Instrument [Line Items]
Commitment fee percentage	0.35%
Secured Debt \| SOFR
Debt Instrument [Line Items]
Variable rate, adjustment	0.10%
Variable rate, floor	0.00%
Secured Debt \| SOFR \| Minimum
Debt Instrument [Line Items]
Long-term debt, basis spread on variable rate	1.00%
Secured Debt \| SOFR \| Maximum
Debt Instrument [Line Items]
Long-term debt, basis spread on variable rate	2.00%
Secured Debt \| Overnight Federal Funds Rate
Debt Instrument [Line Items]
Long-term debt, basis spread on variable rate	0.50%
Secured Debt \| Three-month Term SOFR
Debt Instrument [Line Items]
Variable rate, adjustment	0.10%
Variable rate, floor	0.00%
Long-term debt, basis spread on variable rate	1.00%
Secured Debt \| New Term Loan A
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity	$ 1,650,000,000			1,629,400,000	1,629,400,000
Secured Debt \| New Term Loan A \| Base Rate \| Minimum
Debt Instrument [Line Items]
Long-term debt, basis spread on variable rate	0.00%
Secured Debt \| New Term Loan A \| Base Rate \| Maximum
Debt Instrument [Line Items]
Long-term debt, basis spread on variable rate	1.00%
Secured Debt \| New Term Loan A \| Before Two Year Anniversary
Debt Instrument [Line Items]
Debt instrument (as a percent)	0.625%
Secured Debt \| New Term Loan A \| After Two Year But Before Five Year Anniversary
Debt Instrument [Line Items]
Debt instrument (as a percent)	1.25%
Secured Debt \| Senior Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity				1,000,000,000	1,000,000,000
Secured Debt \| Senior Credit Facility \| Letter of Credit
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity				$ 200,000,000	$ 200,000,000
Secured Debt \| New Revolving Commitments
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity	$ 1,000,000,000
Revolving credit facility, amount outstanding	1,000,000,000
Secured Debt \| New Revolving Commitments \| Letter of Credit
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity	200,000,000
Secured Debt \| Existing Term Loan A Loans
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity	1,225,300,000
Secured Debt \| Existing Term Loan B Loans
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity	379,300,000
Secured Debt \| Existing Term Loan A Loans
Debt Instrument [Line Items]
Debt issuance costs, net	$ 3,400,000
Senior Notes \| Senior Notes due 2029
Debt Instrument [Line Items]
Debt instrument (as a percent)		4.00%	3.875%
Face amount of debt		$ 500,000,000	$ 700,000,000
Redemption price (as a percent)		104.00%
Percentage of principal amount outstanding (as a percent)		50.00%
Redemption of principal, redemption period		180 days
Debt issuance costs		$ 6,500,000
Senior Notes \| Senior Notes due 2029 \| Period One
Debt Instrument [Line Items]
Redemption of principal amount (as a percent)		100.00%
Redemption price (as a percent)		40.00%
Senior Notes \| Senior Notes due 2029 \| Period Two
Debt Instrument [Line Items]
Redemption of principal amount (as a percent)		102.00%
Senior Notes \| Senior Notes due 2029 \| Period Three
Debt Instrument [Line Items]
Redemption of principal amount (as a percent)		101.00%
Senior Notes \| Senior Notes due 2029 \| Period Four
Debt Instrument [Line Items]
Redemption of principal amount (as a percent)		100.00%
Senior Notes \| Senior Notes due 2028
Debt Instrument [Line Items]
Redemption price (as a percent)			103.875%
Percentage of principal amount outstanding (as a percent)			50.00%
Redemption of principal, redemption period			180 days
Debt issuance costs			$ 9,200,000
Senior Notes \| Senior Notes due 2028 \| Period One
Debt Instrument [Line Items]
Redemption of principal amount (as a percent)			100.00%
Redemption price (as a percent)			40.00%
Senior Notes \| Senior Notes due 2028 \| Period Two
Debt Instrument [Line Items]
Redemption of principal amount (as a percent)			101.938%
Senior Notes \| Senior Notes due 2028 \| Period Three
Debt Instrument [Line Items]
Redemption of principal amount (as a percent)			100.969%
Senior Notes \| Senior Notes due 2028 \| Period Four
Debt Instrument [Line Items]
Redemption of principal amount (as a percent)			100.00%

Goodwill and Intangible Assets (Tables)

12 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Intangible Assets

Intangible assets consisted of the following:


	March 31, 2023						March 31, 2022
	Gross Carrying Value		Accumulated Amortization		Net Carrying Value		Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Amortizable intangible assets:
Programs and contract assets, channel relationships, and other amortizable intangible assets (1)	$	599,794	$	169,316	$	430,478	$	483,294	$	101,584	$	381,710
Software	134,152		69,215		64,937		119,398		44,626		74,772
Total amortizable intangible assets	$	733,946	$	238,531	$	495,415	$	602,692	$	146,210	$	456,482
Unamortizable intangible assets:
Trade name	$	190,200	$	—	$	190,200	$	190,200	$	—	$	190,200
Total	$	924,146	$	238,531	$	685,615	$	792,892	$	146,210	$	646,682

(1)The increase in the carrying amount of programs and contracts, channel relationships, and other amortizable intangible assets was attributable to the Company's acquisition of EverWatch.

Summary of Expected Amortization Expense for Intangible Assets


For the Fiscal Year Ended March 31,
2024	$	91,350
2025	78,513
2026	69,053
2027	57,301
2028	49,266
Thereafter	149,932
Total estimated amortization expense	$	495,415

Acquisitions and Divestitures - Purchase Price Allocation (Details) - USD ($) $ in Thousands	Oct. 14, 2022	Jun. 11, 2021	Mar. 31, 2023	Mar. 31, 2022
Purchase price allocation:
Goodwill			$ 2,338,399	$ 2,021,931
Tracepoint LLC and Liberty IT Solutions LLC
Business Acquisition [Line Items]
Cash consideration (gross of cash acquired and including net adjustments)		$ 789,429
Fair value of non-controlling interest		80,063
Total purchase consideration		869,492
Purchase price allocation:
Cash		9,096
Current assets		57,519
Operating lease right-of-use asset		2,532
Other long-term assets		2,825
Intangible assets		399,500
Current liabilities		(40,217)
Operating lease liabilities - short-term		(1,017)
Operating lease liabilities - long term		(1,516)
Total fair value of identifiable net assets acquired		428,722
Goodwill		$ 440,770
EverWatch
Business Acquisition [Line Items]
Cash consideration (gross of cash acquired and including net adjustments)	$ 445,074
Purchase price allocation:
Cash	4,779
Current assets	27,725
Operating lease right-of-use asset	7,894
Other long-term assets	4,511
Intangible assets	116,500
Deferred tax liabilities	(22,337)
Current liabilities	(11,613)
Operating lease liabilities - short-term	(1,362)
Operating lease liabilities - long term	(6,532)
Total fair value of identifiable net assets acquired	119,565
Goodwill	$ 325,509

Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning of year	$ 1,046,070
Other comprehensive income before reclassifications	21,665	$ 25,326	$ 952
Amounts reclassified from accumulated other comprehensive income	(917)	13,030	15,278
Total other comprehensive income, net of tax	20,748	38,356	16,230
End of year	992,002	1,046,070
Post-retirement plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning of year	8,811	(1,562)	(4,127)
Other comprehensive income before reclassifications	10,644	10,294	2,481
Amounts reclassified from accumulated other comprehensive income	(5)	79	84
Total other comprehensive income, net of tax	10,639	10,373	2,565
End of year	19,450	8,811	(1,562)
Tax benefit	3,800	3,600	900
Derivatives designated as cash flow hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning of year	(226)	(28,209)	(41,874)
Other comprehensive income before reclassifications	11,021	15,032	(1,529)
Amounts reclassified from accumulated other comprehensive income	(912)	12,951	15,194
Total other comprehensive income, net of tax	10,109	27,983	13,665
End of year	9,883	(226)	(28,209)
Tax benefit	3,900	5,300	500
Total
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning of year	8,585	(29,771)	(46,001)
End of year	$ 29,333	$ 8,585	$ (29,771)

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/exampleRef
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+ Details

Fair Value Measurements - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Cash and cash equivalents, fair value	$ 404,862	$ 695,910
Money Market Funds
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Cash and cash equivalents, fair value	$ 237,800	$ 4,300

Employee Benefit Plans - Components of Net Postretirement Medical Expense (Details) - Officer Medical Plan - Other Postretirement Benefits Plan - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 6,117	$ 6,505	$ 5,657
Interest cost	4,182	4,063	4,237
Total postretirement medical expense	$ 10,299	$ 10,568	$ 9,894

Stockholders’ Equity

12 Months Ended

Mar. 31, 2023

Equity [Abstract]

Stockholders’ Equity

Common Stock

Holders of Class A Common Stock are entitled to one vote for each share. Each share of Class A Common is entitled to participate equally in all dividends and other distributions declared on and payable with respect to the Class A Common Stock, subject to the preferences and rights of any preferred stock and the General Corporation Law of the State of Delaware. The Company’s ability to pay dividends to stockholders is limited as a practical matter by restrictions in the agreements governing the Company's indebtedness.

The authorized and unissued shares of Class A Common Stock are available for future issuance upon stock option exercises and vesting of restricted stock units without additional stockholder approval.

Share Repurchase Program

On December 21, 2011, the Board of Directors adopted a share repurchase program, which was most recently increased by $400.0 million to $2,560.0 million on July 27, 2022. A special committee of the Board of Directors evaluates market conditions and other relevant factors and initiates repurchases under the program from time to time. The share repurchase program may be suspended, modified or discontinued at any time at the Company’s discretion without prior notice. During fiscal 2023, the Company purchased 2.1 million shares of Class A Common Stock in a series of open market transactions for $196.2 million. During fiscal 2022, the Company purchased 4.7 million shares of Class A Common Stock in a series of open market transactions for $389.9 million. As of March 31, 2023, the Company had $855.9 million remaining under the share repurchase program.

Dividends

The following table summarizes the cash distributions recognized in the consolidated statement of cash flows:


	Fiscal Year Ended March 31,
	2023		2022		2021
Recurring dividends (1)	$	235,726	$	209,057	$	181,066

(1) Amounts represent recurring quarterly dividends that were declared and paid for during each quarter of fiscal 2023, 2022, and 2021.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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+ Details

Subsequent Events	12 Months Ended
Subsequent Events	Mar. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsOn May 26, 2023, the Company announced that its Board of Directors had declared a quarterly cash dividend of $0.47 per share. Payment of the dividend will be made on June 30, 2023 to stockholders of record at the close of business on June 15, 2023.

Derivatives

12 Months Ended

Mar. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives

The Company utilizes derivative financial instruments to manage interest rate risk related to its variable rate debt. The Company’s objectives in using these interest rate derivatives, which were designated as cash flow hedges, are to manage its exposure to interest rate movements and reduce volatility of interest expense.

The following table summarizes the material terms of the Company’s outstanding interest rate swap derivative contracts as of March 31, 2023:

Swap #

Terms

Notional Amount

Effective Date

Maturity Date

Variable to Fixed

150,000

April 30, 2019

June 30, 2023

Variable to Fixed

200,000

April 30, 2019

June 30, 2024

Variable to Fixed

200,000

April 30, 2019

June 30, 2025

Variable to Fixed

150,000

June 30, 2023

June 30, 2026

These swaps mature within the last tranche of the Company's floating rate debt (November 26, 2026).

The floating-to-fixed interest rate swaps involve the exchange of variable interest amounts from a counterparty for the Company making fixed-rate interest payments over the life of the agreements without exchange of the underlying notional amount and effectively converting a portion of the variable rate debt into fixed interest rate debt.

Derivative instruments are recorded in the consolidated balance sheet on a gross basis at estimated fair value. As of March 31, 2023, $11.2 million, $3.5 million and $1.4 million were classified as other current assets, other long-term assets and other long-term liabilities, respectively, on the consolidated balance sheet. As of March 31, 2022, $4.1 million, $4.3 million and $39 thousand were classified as other long term assets, other current liabilities and other long-term liabilities, respectively, on the consolidated balance sheet.

For interest rate swaps designated as cash flow hedges, the changes in the fair value of derivatives is recorded in Accumulated Other Comprehensive Income (Loss), or AOCI, net of taxes, and is subsequently reclassified into interest expense, net in the period that the hedged forecasted interest payments are made on the Company's variable-rate debt. The effect of derivative instruments on the accompanying consolidated financial statements is as follows:


Derivatives in Cash Flow Hedging Relationships	Location of Gain or Loss Recognized in Income on Derivatives	Amount of Gain (Loss) Recognized in AOCI on Derivatives						Amount of Gain (Loss) Reclassified from AOCI into Income (1)
		Fiscal year ended March 31,						Fiscal year ended March 31,
		2023		2022		2021		2023		2022		2021
Interest rate swaps	Interest expense	$	14,919	$	20,352	$	(2,071)	$	1,237	$	(17,535)	$	(20,558)

(1) The reclassifications from accumulated other comprehensive gain (loss) to net income was reduced by taxes of $0.3 million, $4.6 million and $5.4 million, respectively, for fiscal 2023, 2022 and 2021.

Over the next 12 months, the Company estimates that $11.3 million will be reclassified as a decrease to interest expense. Cash flows associated with periodic settlements of interest rate swaps will be classified as operating activities in the consolidated statement of cash flows.

The Company is subject to counterparty risk in connection with its interest rate swap derivative contracts. Credit risk related to a derivative financial instrument represents the possibility that the counterparty will not fulfill the terms of the contract. The Company mitigates this credit risk by entering into agreements with credit-worthy counterparties and regularly reviews its credit exposure and the creditworthiness of the counterparties.

Income Taxes - Reconciliation of Income Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income tax expense computed at U.S. federal statutory rate	$ 77,269	$ 126,981	$ 139,112
Increases (reductions) resulting from:
State and local income taxes, net of federal tax	32,599	28,762	17,586
Foreign income taxes, net of federal tax	4,765	9,243	6,679
Non-deductible expenses, including non-deductible penalties	34,825	859	918
Re-measurement of current year losses under CARES Act	0	0	(76,767)
Excess tax benefits from stock-based compensation	(5,247)	(4,227)	(8,556)
Research and development and other federal credits	(33,159)	(34,080)	(30,313)
Executive compensation -162(m)	4,295	3,614	3,813
Foreign-Derived Intangible Income (FDII)	(15,869)	(9,115)	(4,536)
Changes in uncertain tax positions (including indirect effects)	(6,498)	16,938	6,793
Other	3,754	(1,509)	(1,248)
Total	$ 96,734	$ 137,466	$ 53,481

Stock-based Compensation (Tables)

12 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [Abstract]

Summary of Stock-based Compensation Expense Recognized in the Consolidated Statements of Operations

The following table summarizes stock-based compensation expense recognized in the consolidated statements of operations:


	Fiscal Year Ended March 31,
	2023		2022		2021
Cost of revenue	$	43,378	$	36,836	$	27,682
General and administrative expenses	36,894		32,948		32,162
Total	$	80,272	$	69,784	$	59,844


	Fiscal Year Ended March 31,
	2023		2022		2021
Equity Incentive Plan Options	$	2,550	$	1,793	$	2,625
Restricted Stock and Other Awards	77,722		67,991		57,219

Total	$	80,272	$	69,784	$	59,844

Schedule of Unrecognized Compensation Cost

Absent the effect of forfeiture or acceleration of stock compensation cost for any departures of employees, the following tables summarize the unrecognized compensation cost, the weighted average period the cost is expected to be amortized, and the estimated annual compensation cost for the future periods indicated below (excludes any future award):


	Unrecognized Compensation Cost				Weighted Average Remaining Period to be Recognized
	March 31, 2023		March 31, 2022		March 31, 2023	March 31, 2022
Equity Incentive Plan Options	$	3,495	$	2,359	3.7	3.2
Restricted Stock and Other Awards	47,451		46,528		1.8	1.7
Total	$	50,946	$	48,887


	Total Unrecognized Compensation Cost
	Total		2024		2025		2026		2027		2028
Equity Incentive Plan Options	$	3,495	$	1,731	$	997	$	528	$	222	$	17
Restricted Stock and Other Awards	47,451		31,669		15,013		769		—		—
Total	$	50,946	$	33,400	$	16,010	$	1,297	$	222	$	17

Schedule of Unvested Restricted Stock Activity

The following table summarizes unvested restricted stock activity for the periods presented:


	Number of Shares	Weighted Average Grant Date Fair Value
Unvested Restricted Stock Awards
Unvested at March 31, 2022	1,064,260	$	79.29
Granted	1,184,107	86.20
Vested	903,523	77.68
Forfeited	160,257	82.96
Unvested at March 31, 2023	1,184,587	$	87.08

Leases - Schedule of Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Leases [Abstract]
Operating lease cost	$ 68,620	$ 69,831	$ 68,702
Short-term lease cost	455	585	3,780
Variable lease cost	11,237	11,641	12,843
Total operating lease costs	$ 80,312	$ 82,057	$ 85,325

Income Taxes - Schedule of Income Tax Receivable and Payable (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Current income tax receivable	$ 23,633	$ 47,142
Long term income tax receivable	167,821	341,738
Current income tax payable	$ 14,523	$ 34,324

Summary of Significant Accounting Policies - Property, Plant and Equipment (Details)	12 Months Ended
	Mar. 31, 2023
Furniture and equipment \| Minimum
Property, Plant and Equipment [Line Items]
Useful life	5 years
Furniture and equipment \| Maximum
Property, Plant and Equipment [Line Items]
Useful life	10 years
Computer equipment
Property, Plant and Equipment [Line Items]
Useful life	4 years

Acquisitions and Divestitures - Narrative (Details) - USD ($) $ in Thousands					1 Months Ended	3 Months Ended
	Oct. 14, 2022	Sep. 10, 2021	Sep. 09, 2021	Jun. 11, 2021	Dec. 31, 2022	Dec. 31, 2022	Sep. 30, 2022	Mar. 31, 2023	Mar. 31, 2022
Business Acquisition [Line Items]
Goodwill								$ 2,338,399	$ 2,021,931
Tracepoint LLC
Business Acquisition [Line Items]
Equity method investment, ownership (as a percent)			40.00%
Variable Interest Entity, Not Primary Beneficiary
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Equity securities, fair value					$ 7,600	$ 7,600
Equity securities gains					$ 8,900
Equity Method Investment, Nonconsolidated Investee or Group of Investees \| Tracepoint LLC
Business Acquisition [Line Items]
Gains associated with equity method investment activities			$ 5,700
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| MENA business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on disposition of business							$ 31,200
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| MTS Business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on disposition of business						$ 4,600
Tracepoint LLC
Business Acquisition [Line Items]
Ownership interest acquired (as a percent)		60.00%
Cash consideration (gross of cash acquired and including net adjustments)		$ 120,300
Intangible assets		$ 90,500
Useful life (in years)		10 years
Goodwill		$ 94,300
Liberty
Business Acquisition [Line Items]
Cash consideration (gross of cash acquired and including net adjustments)				$ 669,100
Intangible assets				$ 309,000
Useful life (in years)				12 years
Goodwill				$ 346,500
EverWatch
Business Acquisition [Line Items]
Cash consideration (gross of cash acquired and including net adjustments)	$ 445,074
Intangible assets	$ 116,500
Useful life (in years)	14 years
Goodwill	$ 325,509

Employee Benefit Plans - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Retirement Benefits [Abstract]
Employer matching contribution, percentage of match	6.00%
Employees’ capital accumulation plan, total expense recognized	$ 190.5	$ 176.8	$ 166.3
Employees’ capital accumulation plan, company-paid contributions	$ 185.7	$ 171.6	$ 163.0
Officer Medical Plan \| Other Postretirement Benefits Plan
Defined Benefit Plan Disclosure [Line Items]
Weighted-average discount rate for benefit obligation (as a percent)	4.90%	3.75%	3.40%
Unfunded status of plan	$ 105.6	$ 113.5

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Current assets:
Cash and cash equivalents	$ 404,862	$ 695,910
Accounts receivable, net	1,774,830	1,622,989
Prepaid expenses and other current assets	108,366	126,777
Total current assets	2,288,058	2,445,676
Property and equipment, net of accumulated depreciation	195,186	202,229
Operating lease right-of-use assets	187,798	227,231
Intangible assets, net of accumulated amortization	685,615	646,682
Goodwill	2,338,399	2,021,931
Deferred tax assets	$ 573,780	$ 32,328
Derivative Asset, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other long-term assets	Other long-term assets
Other long-term assets	$ 281,816	$ 449,498
Total assets	6,550,652	6,025,575
Current liabilities:
Current portion of long-term debt	41,250	68,379
Accounts payable and other accrued expenses	1,316,640	902,616
Accrued compensation and benefits	445,205	438,634
Operating lease liabilities	$ 51,238	$ 52,334
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other current liabilities	Other current liabilities
Other current liabilities	$ 42,721	$ 71,991
Total current liabilities	1,897,054	1,533,954
Long-term debt, net of current portion	2,770,895	2,731,693
Operating lease liabilities, net of current portion	198,144	247,070
Income tax reserves	552,623	79,176
Deferred tax liabilities	$ 0	$ 239,602
Derivative Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other long-term liabilities	Other long-term liabilities
Other long-term liabilities	$ 139,934	$ 147,359
Total liabilities	5,558,650	4,978,854
Commitments and contingencies (Note 20)
Stockholders’ equity:
Common stock, Class A - $0.01 par value - 600,000,000 shares authorized; 165,872,332 shares and 164,372,545 shares issued at March 31, 2023 and March 31, 2022, respectively; 131,637,588 shares and 132,584,348 shares outstanding at March 31, 2023 and March 31, 2022, respectively	1,659	1,646
Treasury stock, at cost - 34,234,744 and 31,788,197 shares at March 31, 2023 and March 31, 2022, respectively	(1,859,905)	(1,635,454)
Additional paid-in capital	769,460	656,222
Retained earnings	2,051,455	2,015,071
Accumulated other comprehensive income	29,333	8,585
Total Booz Allen stockholders’ equity	992,002	1,046,070
Non-controlling interest	0	651
Total stockholders’ equity	992,002	1,046,721
Total liabilities and stockholders’ equity	$ 6,550,652	$ 6,025,575

Business Overview	12 Months Ended
Business Overview	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business Overview	Business Overview Our Business Booz Allen Hamilton Holding Corporation, including its wholly owned subsidiaries, or the Company, we, us, and our, was incorporated in Delaware in May 2008. The Company provides management and technology consulting, analytics, engineering, digital solutions, mission operations, and cyber services to U.S. and international governments, major corporations, and not-for-profit organizations. The Company reports operating results and financial data in one reportable segment. The Company is headquartered in McLean, Virginia, with approximately 31,900 employees as of March 31, 2023.

Property and Equipment, Net

12 Months Ended

Mar. 31, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

The components of property and equipment, net were as follows:


	March 31,
	2023		2022
Furniture and equipment	$	119,316	$	117,250
Computer equipment	111,538		104,296
Leasehold improvements	258,258		235,342
Total	489,112		456,888
Less: Accumulated depreciation and amortization	(293,926)		(254,659)
Property and equipment, net	$	195,186	$	202,229

Depreciation and amortization expense relating to property and equipment for fiscal 2023, 2022, and 2021 was $71.2 million, $69.5 million, and $65.0 million, respectively. During fiscal 2023 and 2022, the Company reduced the gross cost and accumulated depreciation and amortization by $24.7 million and $55.0 million, respectively, for zero net book value assets deemed no longer in service.

Earnings Per Share

12 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

Earnings Per Share

The Company computes basic and diluted earnings per share amounts based on net income attributable to common stockholders for the periods presented. The Company uses the weighted average number of shares of common stock outstanding during the period to calculate basic earnings per share, or EPS. Diluted EPS adjusts the weighted average number of shares outstanding to include the dilutive effect of outstanding common stock options and other stock-based awards.

The Company currently has outstanding shares of Class A Common Stock. Holders of unvested Class A Restricted Common Stock are entitled to participate in non-forfeitable dividends or other distributions. These unvested restricted shares participated in the Company's dividends declared and paid in each quarter of fiscal 2023, 2022, and 2021. As such, EPS is calculated using the two-class method whereby earnings are reduced by distributed earnings as well as any available undistributed earnings allocable to holders of these unvested restricted shares. A reconciliation of the income used to compute basic and diluted EPS for the periods presented are as follows:


	Fiscal Year Ended March 31,
	2023		2022		2021
Earnings for basic computations (1)	$	269,656	$	463,626	$	605,437
Weighted-average of common stock shares outstanding for basic computations	132,161,646		134,134,034		137,722,589
Earnings for diluted computations (1)	$	269,657	$	463,635	$	605,455
Dilutive stock options and restricted stock	554,790		716,774		980,631
Weighted-average of common stock shares outstanding for diluted computations	132,716,436		134,850,808		138,703,220
Earnings per share of common stock
Basic	$	2.04	$	3.46	$	4.40
Diluted	$	2.03	$	3.44	$	4.37

Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Long-term Debt, Current and Noncurrent [Abstract]
Less: Unamortized debt issuance costs and discount on debt	$ (17,230)	$ (21,647)
Long-term debt	2,812,145	2,800,072
Less: Current portion of long-term debt	(41,250)	(68,379)
Long-term debt, net of current portion	2,770,895	$ 2,731,693
Existing Term Loan A Loans
Long-term Debt, Current and Noncurrent [Abstract]
Total	$ 1,629,375
Revolver
Long-term Debt, Current and Noncurrent [Abstract]
Interest rate on long term debt (as a percent)	0.00%	0.00%
Total	$ 0	$ 0
Secured Debt \| New Term Loan A
Long-term Debt, Current and Noncurrent [Abstract]
Interest rate on long term debt (as a percent)	5.97%	0.00%
Total	$ 1,629,375	$ 0
Secured Debt \| Existing Term Loan A Loans
Long-term Debt, Current and Noncurrent [Abstract]
Interest rate on long term debt (as a percent)	0.00%	1.71%
Total	$ 0	$ 1,241,398
Secured Debt \| Existing Term Loan B Loans
Long-term Debt, Current and Noncurrent [Abstract]
Interest rate on long term debt (as a percent)	0.00%	2.21%
Total	$ 0	$ 380,321
Senior Notes \| Senior Notes due 2028
Long-term Debt, Current and Noncurrent [Abstract]
Interest rate on long term debt (as a percent)	3.88%	3.88%
Total	$ 700,000	$ 700,000
Senior Notes \| Senior Notes due 2029
Long-term Debt, Current and Noncurrent [Abstract]
Interest rate on long term debt (as a percent)	4.00%	4.00%
Total	$ 500,000	$ 500,000

Accrued Compensation and Benefits (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Compensation Related Costs [Abstract]
Bonus	$ 120,023	$ 96,040
Retirement	52,480	48,169
Vacation	203,627	206,199
Other	69,075	88,226
Total accrued compensation and benefits	$ 445,205	$ 438,634

Commitments and Contingencies (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
U.S. Department of Justice
Loss Contingencies [Line Items]
Increase in reserve	$ 226.0
Estimate of possible loss	350.0	$ 350.0
U.S. Department of Justice \| Minimum
Loss Contingencies [Line Items]
Estimate of possible loss				$ 350.0
U.S. Department of Justice \| Maximum
Loss Contingencies [Line Items]
Estimate of possible loss				$ 378.0
Contracts with U.S. government agencies or other U.S. government contractors \| Revenue Benchmark \| Total U.S. government
Concentration Risk [Line Items]
Concentration risk, percentage		97.00%	97.00%	97.00%
Unfavorable Regulatory Action
Loss Contingencies [Line Items]
Liability for reductions and/or penalties from U.S Government audits	326.7	$ 326.7	$ 290.4
Financial Standby Letter of Credit
Concentration Risk [Line Items]
Guarantor obligations, carrying value	6.1	6.1	8.4
Guarantor obligations, reduction to available borrowings		1.3	1.0
Guarantor obligations, facility	7.5	7.5	20.0
Guarantor obligations, available amount	$ 2.7	$ 2.7	$ 12.6

Derivatives (Tables)

12 Months Ended

Mar. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

The following table summarizes the material terms of the Company’s outstanding interest rate swap derivative contracts as of March 31, 2023:

Swap #

Terms

Notional Amount

Effective Date

Maturity Date

Variable to Fixed

150,000

April 30, 2019

June 30, 2023

Variable to Fixed

200,000

April 30, 2019

June 30, 2024

Variable to Fixed

200,000

April 30, 2019

June 30, 2025

Variable to Fixed

150,000

June 30, 2023

June 30, 2026

The effect of derivative instruments on the accompanying consolidated financial statements is as follows:


Derivatives in Cash Flow Hedging Relationships	Location of Gain or Loss Recognized in Income on Derivatives	Amount of Gain (Loss) Recognized in AOCI on Derivatives						Amount of Gain (Loss) Reclassified from AOCI into Income (1)
		Fiscal year ended March 31,						Fiscal year ended March 31,
		2023		2022		2021		2023		2022		2021
Interest rate swaps	Interest expense	$	14,919	$	20,352	$	(2,071)	$	1,237	$	(17,535)	$	(20,558)

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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+ Details

Property and Equipment, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 489,112	$ 456,888
Less: Accumulated depreciation and amortization	(293,926)	(254,659)
Property and equipment, net	195,186	202,229
Depreciation and amortization expense related to property and equipment	71,200	69,500	$ 65,000
Reduction to gross cost and accumulated depreciation for zero net book value assets	24,700	55,000
Furniture and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	119,316	117,250
Computer equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	111,538	104,296
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 258,258	$ 235,342

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Letters of Credit and Third-Party Guarantees As of March 31, 2023 and 2022, the Company was contingently liable under open standby letters of credit and bank guarantees issued by our banks in favor of third parties that totaled $6.1 million and $8.4 million, respectively. These letters of credit and bank guarantees primarily support insurance and bid and performance obligations. At March 31, 2023 and 2022, approximately $1.3 million and $1.0 million of these instruments reduce the available borrowings under the Revolving Credit Facility. The remainder is guaranteed under a separate $7.5 million facility of which $2.7 million was available to the Company at March 31, 2023. In fiscal 2022, the remainder was guaranteed under a separate $20.0 million facility of which $12.6 million was available to the Company at March 31, 2022. Government Contracting Matters - Provision for Claimed Indirect Costs For each of the fiscal years 2023, 2022, and 2021, approximately 97% of the Company’s revenue was generated from contracts where the end user was an agency or department of the U.S. government, including contracts where the Company performed either as a prime contractor or subcontractor, and regardless of the geographic location in which the work was performed. U.S. government contracts and subcontracts are subject to extensive legal and regulatory requirements. From time to time and in the ordinary course of business, agencies of the U.S. government, including the Defense Contract Audit Agency (“DCAA”), audit the Company’s claimed indirect costs and conduct inquiries and investigations of our business practices with respect to government contracts to determine whether the Company's operations are conducted in accordance with these requirements and the terms of the relevant contracts. Management believes it has recorded the appropriate provision for claimed indirect costs for any audit, inquiry, or investigation of which it is aware that may be subject to any reductions and/or penalties. As of March 31, 2023 and 2022, the Company had recorded liabilities of approximately $326.7 million and $290.4 million, respectively, for estimated adjustments to claimed indirect costs based on its historical DCAA audit results, including the final resolution of such audits with the Defense Contract Management Agency, for claimed indirect costs incurred subsequent to fiscal 2011, and for contracts not yet closed that are subject to audit and final resolution. Litigation Our performance under U.S. government contracts and compliance with the terms of those contracts and applicable laws and regulations are subject to continuous audit, review, and investigation by the U.S. government, which may include such investigative techniques as subpoenas or civil investigative demands. Given the nature of our business, these audits, reviews, and investigations may focus, among other areas, on various aspects of procurement integrity, labor time reporting, sensitive and/or classified information access and control, executive compensation, and post government employment restrictions. We are not always aware of our status in such matters, but we are currently aware of certain pending audits and investigations involving labor time reporting, procurement integrity, and classified information access. In addition, from time to time, we are also involved in legal proceedings and investigations arising in the ordinary course of business, including those relating to employment matters, relationships with clients and contractors, intellectual property disputes, and other business matters. These legal proceedings seek various remedies, including claims for monetary damages in varying amounts, none of which are considered material, or are unspecified as to amount. Although the outcome of any such matter is inherently uncertain and may be materially adverse, based on current information, we do not expect any of the currently ongoing audits, reviews, investigations, or litigation to have a material adverse effect on our financial condition and results of operations. As of March 31, 2023 and 2022, there were no material amounts accrued in the consolidated financial statements related to these proceedings.

Stock-based Compensation - Employee Stock purchase Plan (Details) shares in Millions	12 Months Ended	149 Months Ended
	Mar. 31, 2023 shares	Mar. 31, 2023 shares
EIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Discount for shares repurchased (as a percent)	5.00%
Shares authorized to be repurchased (in shares)	10.0	10.0
Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock issued during period, shares, employee stock purchase plans (in shares)	0.3	3.5

Goodwill and Intangible Assets - Narrative (Details) - USD ($)			12 Months Ended
	Jan. 01, 2023	Jan. 01, 2022	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021	Oct. 14, 2022
Finite-Lived Intangible Assets [Line Items]
Goodwill			$ 2,338,399,000	$ 2,021,931,000
Goodwill impairment	$ 0	$ 0	0	0	$ 0
Amortization of intangible assets			$ 94,300,000	$ 76,200,000	$ 19,300,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| MENA business
Finite-Lived Intangible Assets [Line Items]
Disposal group, including discontinued operation, goodwill						$ 7,000,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| MTS Business
Finite-Lived Intangible Assets [Line Items]
Disposal group, including discontinued operation, goodwill						2,000,000
EverWatch
Finite-Lived Intangible Assets [Line Items]
Goodwill						$ 325,509,000
Programs and contract assets, channel relationships, and other amortizable intangible assets \| Minimum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life (in years)			2 years
Programs and contract assets, channel relationships, and other amortizable intangible assets \| Maximum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life (in years)			14 years
Software \| Minimum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life (in years)			1 year
Software \| Maximum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life (in years)			10 years

Income Taxes

12 Months Ended

Mar. 31, 2023

Income Tax Disclosure [Abstract]

Income Taxes

The components of income tax expense were as follows:


	Fiscal Year Ended March 31,
	2023		2022		2021
Current
U.S. Federal	$	354,569	$	232,844	$	(227,309)
State and local	86,947		26,333		39,542
Foreign	9,120		8,486		9,250
Total current	450,636		267,663		(178,517)
Deferred
U.S. Federal	(300,494)		(146,581)		245,624
State and local	(50,318)		11,781		(13,626)
Foreign	(3,090)		4,603		—
Total deferred	(353,902)		(130,197)		231,998
Total	$	96,734	$	137,466	$	53,481

A reconciliation of the provision for income tax to the amount computed by applying the statutory federal income tax rate to income from continuing operations before income taxes for each of the three years ended March 31 is as follows:


	Fiscal Year Ended March 31,
	2023		2022		2021
Income tax expense computed at U.S. federal statutory rate	$	77,269	$	126,981	$	139,112

Increases (reductions) resulting from:
State and local income taxes, net of federal tax	32,599		28,762		17,586
Foreign income taxes, net of federal tax	4,765		9,243		6,679
Non-deductible expenses, including non-deductible penalties	34,825		859		918
Re-measurement of current year losses under CARES Act	—		—		(76,767)
Excess tax benefits from stock-based compensation	(5,247)		(4,227)		(8,556)
Research and development and other federal credits	(33,159)		(34,080)		(30,313)
Executive compensation -162(m)	4,295		3,614		3,813
Foreign-Derived Intangible Income (FDII)	(15,869)		(9,115)		(4,536)
Changes in uncertain tax positions (including indirect effects)	(6,498)		16,938		6,793
Other	3,754		(1,509)		(1,248)
Income tax expense from operations	$	96,734	$	137,466	$	53,481

For the fiscal 2021 tax year, the Company generated a tax loss for U.S. Federal and state tax purposes resulting from the treatment of costs associated with property, plant, and equipment. As a result of a provision in the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”), the Company was allowed to carry this loss back to the five prior tax years (fiscal years 2016 to 2020). Accordingly, the Company recorded a long-term income tax receivable in fiscal 2021 (due to the uncertainty around expectations for the timing of refund receipt) which was largely offset by a corresponding deferred tax liability reflected within the property and equipment deferred tax liability in the Company's significant components of deferred income tax assets and liabilities. In October 2022, the Company received a partial federal tax refund of approximately $174.0 million plus interest for its carryback claim related to the above, which reduced the long-term income tax receivable on our Consolidated Balance Sheet as of March 31, 2023.

Tax Receivables and Payables

The Company has both income tax receivables and income tax payable on its consolidated balance sheet as follows:


	March 31,
	2023		2022
Current income tax receivable	$	23,633	$	47,142
Long term income tax receivable	$	167,821	$	341,738
Current income tax payable	$	14,523	$	34,324

Current income tax receivable represents previously made estimated payments that will be applied to the Company’s future U.S. federal and state tax returns. This amount is classified as prepaid expenses and other current assets on the consolidated balance sheet. Current income tax payable represents current liabilities associated with the Company’s current tax returns that the Company intends to file in fiscal 2024. This amount is classified as other current liabilities on the consolidated balance sheet.

The long-term income tax receivable primarily represents the amended U.S. federal return refund claims for research and development tax credits and the carryback claim for the fiscal 2021 net operating loss which is classified as other long-term assets on the consolidated balance sheet. The Company is currently under federal audit by the IRS for fiscal years 2016, 2017 and 2019-2021 and the receipt of our U.S federal return refund claims is contingent upon the completion of the ongoing IRS audits.

Deferred Taxes

The significant components of the Company’s deferred income tax assets and liabilities were as follows:


	March 31,
	2023		2022
Deferred income tax assets:
Accrued expenses	$	146,945	$	80,344
Deferred compensation	47,931		56,361
Stock-based compensation	11,628		9,783
Pension and postretirement benefits	28,585		30,797
Net operating loss and other carryforwards	16,984		44,118
Research and development expenditures and indirect effects	599,381		—
State tax credits	11,516		24,268
Operating lease liabilities	69,604		82,799
Other	9,100		2,501
Total gross deferred income tax assets	941,674		330,971
Less: Valuation allowance	(11,788)		(8,715)
Total net deferred income tax assets	929,886		322,256
Deferred income tax liabilities:
Unbilled receivables	(177,321)		(209,753)
Intangible assets	(88,858)		(56,657)
Property and equipment	(34,905)		(198,940)
Operating lease right-of-use assets	(48,939)		(59,401)
Other	(6,083)		(4,780)
Total deferred income tax liabilities	(356,106)		(529,531)
Net deferred income tax asset (liability)	$	573,780	$	(207,275)

Deferred tax balances arise from temporary differences between the carrying amount of assets and liabilities and their tax basis and are stated at the enacted tax rates in effect for the year in which the differences are expected to reverse. A valuation allowance is provided against deferred tax assets when it is more likely than not that some or all of the deferred tax asset will not be realized. In determining if the Company's deferred tax assets are realizable, management considers all positive and negative evidence, including the history of generating financial reporting earnings, future reversals of existing taxable temporary differences, projected future taxable income, as well as any tax planning strategies.

As of March 31, 2023 and 2022, the Company had available federal, state, and foreign net operating loss (“NOL carryforwards”) of $13.7 million and $44.1 million, respectively, that may be applied against future taxable income. The federal net operating loss of $1.3 million is primarily attributable to an acquisition and will begin to expire in fiscal 2037. The state net operating loss of $6.3 million is primarily attributable to losses in jurisdictions in which the Company does not file a consolidated return. The foreign net operating loss of $6.1 million is primarily attributable to operations in jurisdictions where the Company has not historically been profitable. The Company recorded a partial valuation allowance against those federal, state and foreign net operating losses it believes will expire prior to utilization.

Uncertain Tax Positions

The Company maintains reserves for uncertain tax positions related to unrecognized income tax benefits. These reserves involve considerable judgment and estimation and are evaluated by management based on the best information available including changes in tax laws and other information. As of March 31, 2023, 2022, and 2021, the Company has recorded $552.3 million, $79.9 million, and $62.9 million, respectively, of reserves for uncertain tax positions which includes potential tax benefits of $91.1 million, $78.5 million, and $62.7 million, respectively, that, when recognized, impact the effective tax rate. As of March 31, 2023 and 2022, $3.0 million and $3.1 million, respectively, of the reserve is reflected as a reduction to deferred taxes and the remaining balance is recorded as a component of other long-term liabilities in the consolidated balance sheet.

A reconciliation of the beginning and ending amount of potential tax benefits for the periods presented is as follows:


	March 31,
	2023		2022		2021
Beginning of year	$	78,519	$	62,742	$	55,221
Increases in prior year position	—		2,620		5,018
Increases in current year position	470,881		13,530		12,753
Decreases in prior year position	(1,328)		(373)		—
Settlements with taxing authorities	—		—		—
Lapse of statute of limitations	(187)		—		(10,250)
End of year	$	547,885	$	78,519	$	62,742

During fiscal 2023, the Company recognized an increase in reserves for uncertain tax positions related to an increase in research and development tax credits available, as in prior years, and the required capitalization of research and development expenditures, which became effective in fiscal 2023. The unrecognized tax benefits related to the capitalization of research and development expenditures is offset by a deferred tax asset. The Company recognized accrued interest and penalties of $2.9 million, $1.7 million and $0.3 million for fiscal 2023, 2022, and 2021, respectively, related to the reserves for uncertain tax positions in the income tax provision. Included in the total reserve for uncertain tax positions are accrued penalties and interest of approximately $5.8 million, $2.9 million and $1.2 million at March 31, 2023, 2022, and 2021, respectively.

The Company is subject to taxation in the United States and various state and foreign jurisdictions. As of March 31, 2023, the Company's tax years ended March 31, 2016 and forward are open and subject to examination by the federal tax authorities. The other jurisdictions' currently open or under examination are not considered to be material.

The Company is currently contesting tax assessments from the District of Columbia Office of Tax and Revenue (“DC OTR”) for fiscal years 2013 through 2015. The assessment relates to $11.7 million of taxes, net of federal tax benefits, as of March 31, 2023.

During fiscal 2022, the Company received notification that the District of Columbia Office of Administrative Hearings ruled in favor of the DC OTR. The Company is currently appealing the decision with the District of Columbia Court of Appeals. The Company intends to continue to vigorously defend this matter. Oral arguments are expected to occur later in calendar year 2023.

The Company has taken similar tax positions with respect to subsequent fiscal years. As of March 31, 2023, the Company does not maintain reserves for any uncertain tax positions related to the contested tax benefits related to 2013 through 2015, nor does it maintain reserves for the similar tax positions taken in the subsequent fiscal years. Management continues to evaluate this position quarterly to determine if a change in estimate is needed. If an adverse final resolution were to occur with respect to uncertain tax positions related to the contested tax benefits or the similar tax positions taken for fiscal years 2013 through 2020, the total potential future tax expense that would arise would be approximately $40.2 million to $59.3 million, net of federal benefit.

Beginning in fiscal 2023, the Tax Cuts and Jobs Act of 2017 eliminates the option to deduct research and development expenditures immediately in the year incurred and requires taxpayers to amortize such expenditures over five years. This provision negatively impacted our fiscal 2023 cash from operations, but had an offsetting impact on the deferred tax asset. This change in deduction methodology is the primary driver of the increase in net cash taxes paid. Prospectively, the future impact of this provision will depend on if and when this provision is deferred, modified, or repealed by Congress, including if retroactively, any guidance issued by the Treasury Department regarding the identification of appropriate costs for capitalization, and the amount of future research and development expenses paid or incurred (among other factors). While the largest impact will be to fiscal 2023 cash from operations, the impact would continue over the five year amortization period, but would decrease over the period and be immaterial in year six.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Derivatives - Summary of Material Terms of the Company’s Outstanding Interest Rate Swap Derivative Contracts (Details) - Cash Flow Hedging - Designated as Hedging Instrument $ in Thousands	Mar. 31, 2023 USD ($)
Interest Rate Swap 1
Derivative [Line Items]
Notional Amount	$ 150,000
Interest Rate Swap 2
Derivative [Line Items]
Notional Amount	200,000
Interest Rate Swap 3
Derivative [Line Items]
Notional Amount	200,000
Interest Rate Swap 4
Derivative [Line Items]
Notional Amount	$ 150,000

Employee Benefit Plans

12 Months Ended

Mar. 31, 2023

Retirement Benefits [Abstract]

Employee Benefit Plans

Defined Contribution Plan

The Company sponsors the Employees’ Capital Accumulation Plan, or ECAP, which is a qualified defined contribution plan that covers eligible U.S. and certain international employees. ECAP provides for distributions to participants by reason of retirement, death, disability, or termination of employment. The Company provides an annual matching contribution of up to 6% of eligible annual compensation. Total expense recognized under ECAP for fiscal 2023, 2022, and 2021 was $190.5 million, $176.8 million, and $166.3 million, respectively, and the Company-paid contributions were $185.7 million, $171.6 million, and $163.0 million, respectively.

Post Retirement Benefits

The Company provides postretirement healthcare benefits to former officers under a medical indemnity insurance plan, with premiums paid by the Company. This plan is referred to as the Officer Medical Plan. The Company recognizes a liability for the defined benefit plans' underfunded status, measures the defined benefit plans' obligations that determine its funded status as of the end of the fiscal year, and recognizes as a component of accumulated other comprehensive income the changes in the defined benefit plans' funded status that are not recognized as components of net periodic benefit cost.

The components of net postretirement medical expense for the Officer Medical Plan were as follows:


	Fiscal Year Ended March 31,
	2023		2022		2021
Service cost	$	6,117	$	6,505	$	5,657
Interest cost	4,182		4,063		4,237

Total postretirement medical expense	$	10,299	$	10,568	$	9,894

The service cost component of net periodic benefit cost is included in cost of revenue and general and administrative expenses, and the non-service cost components of net periodic benefit cost (interest cost and net actuarial loss) are included as part of other income (expense), net in the accompanying consolidated statements of operations.

The weighted-average discount rate used to determine the year-end benefit obligation for the Officer Medical Plan were 4.90%, 3.75% and 3.40% for fiscal 2023, 2022, and 2021, respectively.

Assumed healthcare cost trend rates for the Officer Medical Plan at March 31, 2023 and 2022 were as follows:


Pre-65 initial rate	2023		2022
Healthcare cost trend rate assumed for next year	6.60	%	6.30	%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	4.50	%	4.50	%
Year that the rate reaches the ultimate trend rate	2032		2031


Post-65 initial rate	2023		2022
Healthcare cost trend rate assumed for next year	6.80	%	6.45	%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	4.50	%	4.50	%
Year that the rate reaches the ultimate trend rate	2032		2031

The changes in the benefit obligation, plan assets, and funded status of the Officer Medical Plan were as follows:


	Fiscal Year Ended March 31,
	2023		2022		2021
Benefit obligation, beginning of the year	$	113,505	$	121,518	$	119,609
Service cost	6,117		6,505		5,657
Interest cost	4,182		4,063		4,237
Net actuarial gain	(14,288)		(13,563)		(3,466)
Benefits paid	(3,931)		(5,018)		(4,519)
Benefit obligation, end of the year	$	105,585	$	113,505	$	121,518

The net actuarial gain related to the benefit obligation in fiscal 2023 was primarily due to a favorable change from using an amounts-weighted to a headcount-weighted mortality table and increases in discount rates, partially offset by updates to estimated medical costs and the outlook of higher future medical inflation. The net actuarial gain related to the benefit obligation in fiscal 2022 was primarily due to favorable changes in estimated medical costs and increases in discount rates, partially offset by updates to demographic assumptions and outlook of higher future medical inflation. The net actuarial gain related to the benefit obligation in fiscal 2021 was primarily due to a favorable medical cost experience, partially offset by the unfavorable impact from declines in discount rates as of March 31, 2021.


	Fiscal Year Ended March 31,
Changes in plan assets	2023		2022		2021
Fair value of plan assets, beginning of the year	$	—	$	—	$	—
Employer contributions	3,931		5,018		4,519
Benefits paid	(3,931)		(5,018)		(4,519)
Fair value of plan assets, end of the year	$	—	$	—	$	—

As of March 31, 2023 and 2022, the unfunded status of the Officer Medical Plan was $105.6 million and $113.5 million, respectively, which is included in other long-term liabilities in the accompanying consolidated balance sheets.

The expected future medical benefit payments and related contributions are as follows:


For the Fiscal Year Ending March 31,
2024	$	4,397
2025	4,655
2026	5,054
2027	5,365
2028	5,770
2029 - 2033	33,899
Total	$	59,140

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
-URI https://asc.fasb.org/extlink&oid=123450688&loc=d3e4179-114921

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section S99
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=21916913&loc=d3e273930-122802

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Section 50
-Paragraph 1
-Subparagraph (p)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=49170846&loc=d3e28014-114942

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-URI https://asc.fasb.org/topic&trid=2235017

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 60
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=6414203&loc=d3e39689-114964

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (q)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (l)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

+ Details

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Revenue	$ 9,258,911	$ 8,363,700	$ 7,858,938
Revenue (as a percent)	100.00%	100.00%	100.00%
Prime Contractor
Disaggregation of Revenue [Line Items]
Revenue	$ 8,755,628	$ 7,864,273	$ 7,311,313
Revenue (as a percent)	95.00%	94.00%	93.00%
Sub-contractor
Disaggregation of Revenue [Line Items]
Revenue	$ 503,283	$ 499,427	$ 547,625
Revenue (as a percent)	5.00%	6.00%	7.00%
Global Commercial Clients
Disaggregation of Revenue [Line Items]
Revenue	$ 229,650	$ 216,280	$ 205,834
Revenue (as a percent)	3.00%	3.00%	3.00%
Total U.S. government
Disaggregation of Revenue [Line Items]
Revenue	$ 9,029,261	$ 8,147,420	$ 7,653,104
Revenue (as a percent)	97.00%	97.00%	97.00%
Total U.S. government \| Defense Clients
Disaggregation of Revenue [Line Items]
Revenue	$ 4,210,430	$ 3,950,751	$ 3,920,498
Revenue (as a percent)	45.00%	47.00%	49.00%
Total U.S. government \| Intelligence Clients
Disaggregation of Revenue [Line Items]
Revenue	$ 1,693,942	$ 1,578,939	$ 1,549,422
Revenue (as a percent)	18.00%	19.00%	20.00%
Total U.S. government \| Civil Clients
Disaggregation of Revenue [Line Items]
Revenue	$ 3,124,889	$ 2,617,730	$ 2,183,184
Revenue (as a percent)	34.00%	31.00%	28.00%
Cost-reimbursable
Disaggregation of Revenue [Line Items]
Revenue	$ 4,908,451	$ 4,514,262	$ 4,419,533
Revenue (as a percent)	53.00%	54.00%	56.00%
Time-and-materials
Disaggregation of Revenue [Line Items]
Revenue	$ 2,296,965	$ 2,017,094	$ 1,962,999
Revenue (as a percent)	25.00%	24.00%	25.00%
Fixed-price
Disaggregation of Revenue [Line Items]
Revenue	$ 2,053,495	$ 1,832,344	$ 1,476,406
Revenue (as a percent)	22.00%	22.00%	19.00%

Fair Value Measurements - Carrying Amounts of Notes Payable (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
3.88% Senior Notes due 2028 \| Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument (as a percent)	3.88%
4.00% Senior Notes due 2029 \| Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument (as a percent)	4.00%
Carrying Amount \| New Term Loan A \| Secured Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	$ 1,629,375	$ 0
Carrying Amount \| Existing Term Loan A Loans \| Secured Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	0	1,241,398
Carrying Amount \| Existing Term Loan B Loans \| Secured Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	0	380,321
Carrying Amount \| 3.88% Senior Notes due 2028 \| Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	700,000	700,000
Carrying Amount \| 4.00% Senior Notes due 2029 \| Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	500,000	500,000
Estimated Fair Value \| New Term Loan A \| Secured Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	1,600,861	0
Estimated Fair Value \| Existing Term Loan A Loans \| Secured Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	0	1,218,122
Estimated Fair Value \| Existing Term Loan B Loans \| Secured Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	0	379,461
Estimated Fair Value \| 3.88% Senior Notes due 2028 \| Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	638,540	676,228
Estimated Fair Value \| 4.00% Senior Notes due 2029 \| Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt	$ 451,930	$ 488,335

Accumulated Other Comprehensive Income (Tables)

12 Months Ended

Mar. 31, 2023

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Loss

The following table shows the changes in accumulated other comprehensive loss, net of tax:


	Fiscal Year Ended March 31, 2023
	Post-retirement plans		Derivatives designated as cash flow hedges		Total
Beginning of year	$	8,811	$	(226)	$	8,585
Other comprehensive income before reclassifications (1)	10,644		11,021		21,665
Amounts reclassified from accumulated other comprehensive income	(5)		(912)		(917)
Net current-period other comprehensive income	10,639		10,109		20,748
End of year	$	19,450	$	9,883	$	29,333


	Fiscal Year Ended March 31, 2022
	Post-retirement plans		Derivatives designated as cash flow hedges		Total
Beginning of year	$	(1,562)	$	(28,209)	$	(29,771)
Other comprehensive income before reclassifications (2)	10,294		15,032		25,326
Amounts reclassified from accumulated other comprehensive income	79		12,951		13,030
Net current-period other comprehensive income	10,373		27,983		38,356
End of year	$	8,811	$	(226)	$	8,585


	Fiscal Year Ended March 31, 2021
	Post-retirement plans		Derivatives designated as cash flow hedges		Total
Beginning of year	$	(4,127)	$	(41,874)	$	(46,001)
Other comprehensive income (loss) before reclassifications (3)	2,481		(1,529)		952
Amounts reclassified from accumulated other comprehensive loss	84		15,194		15,278
Net current-period other comprehensive income (loss)	2,565		13,665		16,230

End of year	$	(1,562)	$	(28,209)	$	(29,771)

Leases - Future Minimum Obligations for Noncancelable Operating Leases (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Leases [Abstract]
2024	$ 61,492
2025	71,386
2026	54,832
2027	32,796
2028	22,562
Thereafter	38,326
Total future lease payments	281,394
Less: imputed interest	(32,012)
Total lease liabilities	$ 249,382

Stock-based Compensation - Restricted Stock Activity (Details) - EIP	12 Months Ended
	Mar. 31, 2023 $ / shares shares
Number of Shares
Unvested, beginning balance (in shares) \| shares	1,064,260
Granted (in shares) \| shares	1,184,107
Vested (in shares) \| shares	903,523
Forfeited (in shares) \| shares	160,257
Unvested, ending balance (in shares) \| shares	1,184,587
Weighted Average Grant Date Fair Value
Unvested, beginning balance (in dollars per share) \| $ / shares	$ 79.29
Granted (in dollars per share) \| $ / shares	86.20
Vested (in dollars per share) \| $ / shares	77.68
Forfeited (in dollars per share) \| $ / shares	82.96
Unvested, ending balance (in dollars per share) \| $ / shares	$ 87.08

Accrued Compensation and Benefits

12 Months Ended

Mar. 31, 2023

Accrued Compensation and Benefits

Accrued compensation and benefits consisted of the following:


	March 31,
	2023		2022
Bonus	$	120,023	$	96,040
Retirement	52,480		48,169
Vacation	203,627		206,199
Other	69,075		88,226
Total accrued compensation and benefits	$	445,205	$	438,634

Business Segment Information	12 Months Ended
Business Segment Information	Mar. 31, 2023
Segment Reporting [Abstract]
Business Segment Information	Business Segment InformationThe Company reports operating results and financial data in one operating and reportable segment. The Company manages its business as a single profit center in order to promote collaboration, provide comprehensive functional service offerings across its entire client base, and provide incentives to employees based on the success of the organization as a whole. Although certain information regarding served markets and functional capabilities is discussed for purposes of promoting an understanding of the Company’s complex business, the Company manages its business and allocates resources at the consolidated level of a single operating segment.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 21
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Paragraph 41
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Paragraph 21
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI https://asc.fasb.org/topic&trid=2134510

+ Details

Income Taxes - Components of Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Current
U.S. Federal	$ 354,569	$ 232,844	$ (227,309)
State and local	86,947	26,333	39,542
Foreign	9,120	8,486	9,250
Total current	450,636	267,663	(178,517)
Deferred
U.S. Federal	(300,494)	(146,581)	245,624
State and local	(50,318)	11,781	(13,626)
Foreign	(3,090)	4,603	0
Total deferred	(353,902)	(130,197)	231,998
Total	$ 96,734	$ 137,466	$ 53,481

Revenue - Summary of Contract Balances (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Current assets:
Accounts receivable–billed	$ 551,666	$ 465,322
Accounts receivable–unbilled (contract assets)	1,223,482	1,157,667
Allowance for credit losses	(318)	0
Accounts receivable, net	1,774,830	1,622,989
Accounts receivable–unbilled (contract assets)	59,455	64,339
Total accounts receivable, net	1,834,285	1,687,328
Other current liabilities
Advance payments, billings in excess of costs incurred and deferred revenue (contract liabilities)	$ 18,995	$ 26,747

Business Overview (Details)	12 Months Ended
Business Overview (Details)	Mar. 31, 2023 employee segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments	1
Number of reportable segments	1
Number of employees \| employee	31,900

Fair Value Measurements (Tables)

12 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

Summary of Fair Value Measurements

The financial instruments measured at fair value in the accompanying consolidated balance sheets consist of the following:


	Recurring Fair Value Measurements as of March 31, 2023
	Level 1		Level 2		Level 3		Total
Assets:
Current derivative instruments (2)	$	—	$	11,245	$	—	$	11,245
Long-term derivative instruments (2)	—		3,530		—		3,530
Long term deferred compensation plan asset (1)	20,090		—		—		20,090

Total Assets	$	20,090	$	14,775	$	—	$	34,865
Liabilities:

Long-term derivative instruments (2)	—		1,369		—		1,369
Long term deferred compensation plan liability (1)	20,090		—		—		20,090
Total Liabilities	$	20,090	$	1,369	$	—	$	21,459


	Recurring Fair Value Measurements as of March 31, 2022
	Level 1		Level 2		Level 3		Total
Assets:

Long term deferred compensation plan asset (1)	$	16,512	$	—	$	—	$	16,512
Long-term derivative instruments (2)	—		4,088		—		4,088
Total Assets	$	16,512	$	4,088	$	—	$	20,600
Liabilities:

Current derivative instruments (2)	$	—	$	4,324	$	—	$	4,324
Long-term derivative instruments (2)	—		39		—		39
Long term deferred compensation plan liability (1)	16,512		—		—		16,512
Total liabilities	$	16,512	$	4,363	$	—	$	20,875

(1) Investments in this category consist of primarily of mutual funds whose fair values are determined by reference to the quoted market price per unit in active markets multiplied by the number of units held without consideration of transaction costs. These assets represent investments held in a consolidated trust to fund the Company's non-qualified deferred compensation plan and are recorded in other long-term assets and other long-term liabilities on our consolidated balance sheets.

(2) The Company’s interest rate swaps are considered over-the-counter derivatives and fair value is estimated based on the present value of future cash flows using a model-derived valuation that uses Level 2 observable inputs such as interest rate yield curves. See Note 11, “Derivatives,” to the consolidated financial statements for further discussion on the Company’s derivative instruments designated as cash flow hedges.

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

The carrying amount and estimated fair value of debt consists of the following:


	March 31, 2023				March 31, 2022
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
New Term Loan A	$	1,629,375	$	1,600,861	$	—	$	—
Existing Term Loan A Loans	—		—		1,241,398		1,218,122
Existing Term Loan B Loans	—		—		380,321		379,461
3.88% Senior Notes due 2028	700,000		638,540		700,000		676,228
4.00% Senior Notes due 2029	500,000		451,930		500,000		488,335

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

Related Party Transactions	12 Months Ended
Related Party Transactions	Mar. 31, 2023
Related Party Transactions [Abstract]
Related Party Transactions	Related Party TransactionsTwo of our directors served on the board of directors of a subcontractor to which the Company subcontracted $70.0 million and $85.9 million of services for fiscal 2022 and 2021, respectively. The subcontractor was acquired by another company in August 2021, at which point the two directors ceased to serve on the board of directors.

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021	Oct. 31, 2022
Operating Loss Carryforwards [Line Items]
Refund amount				$ 174,000
Net operating losses	$ 13,700	$ 44,100
Reserves for uncertain tax positions	552,300	79,900	$ 62,900
Unrecognized tax benefits that would impact effective tax rate	91,100	78,500	62,700
Unrecognized tax benefits that decrease deferred tax assets	3,000	3,100
Increase in reserves for uncertain tax positions	470,881	13,530	12,753
Accrued interest and penalties	2,900	1,700	300
Income tax reserve, accrued penalties and interest	5,800	$ 2,900	$ 1,200
Minimum
Operating Loss Carryforwards [Line Items]
Potential future tax expense that would arise	40,200
Maximum
Operating Loss Carryforwards [Line Items]
Potential future tax expense that would arise	59,300
Federal
Operating Loss Carryforwards [Line Items]
Net operating losses	1,300
State
Operating Loss Carryforwards [Line Items]
Net operating losses	6,300
Foreign
Operating Loss Carryforwards [Line Items]
Net operating losses	6,100
Tax Years 2013-2015
Operating Loss Carryforwards [Line Items]
Income tax assessments	$ 11,700

Summary of Significant Accounting Policies - Intangible Assets and Goodwill (Details) - USD ($)			12 Months Ended
	Jan. 01, 2023	Jan. 01, 2022	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Impairment charge on intangibles			$ 0	$ 0	$ 0
Goodwill impairment	$ 0	$ 0	0	0	0
Impairment charges			$ 0	$ 0	$ 0
Programs and contract assets, channel relationships, and other amortizable intangible assets \| Minimum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life (in years)			2 years
Programs and contract assets, channel relationships, and other amortizable intangible assets \| Maximum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life (in years)			14 years
Software \| Minimum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life (in years)			1 year
Software \| Maximum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life (in years)			10 years

Subsequent Events (Details)	May 26, 2023 $ / shares
Subsequent Event
Subsequent Event [Line Items]
Dividends declared per share (in dollars per share)	$ 0.47

Accounts Payable and Other Accrued Expenses (Tables)

12 Months Ended

Mar. 31, 2023

Payables and Accruals [Abstract]

Schedule of Accounts Payable and Other Accrued Expenses

Accounts payable and other accrued expenses consisted of the following:


	March 31,
	2023		2022
Vendor payables	$	597,808	$	539,524
Accrued expenses	718,832		363,092
Total accounts payable and other accrued expenses	$	1,316,640	$	902,616

Income Taxes (Tables)

12 Months Ended

Mar. 31, 2023

Income Tax Disclosure [Abstract]

Summary of Components of Income Tax Expense

The components of income tax expense were as follows:


	Fiscal Year Ended March 31,
	2023		2022		2021
Current
U.S. Federal	$	354,569	$	232,844	$	(227,309)
State and local	86,947		26,333		39,542
Foreign	9,120		8,486		9,250
Total current	450,636		267,663		(178,517)
Deferred
U.S. Federal	(300,494)		(146,581)		245,624
State and local	(50,318)		11,781		(13,626)
Foreign	(3,090)		4,603		—
Total deferred	(353,902)		(130,197)		231,998
Total	$	96,734	$	137,466	$	53,481

Schedule of Effective Income Tax Rate Reconciliation


	Fiscal Year Ended March 31,
	2023		2022		2021
Income tax expense computed at U.S. federal statutory rate	$	77,269	$	126,981	$	139,112

Increases (reductions) resulting from:
State and local income taxes, net of federal tax	32,599		28,762		17,586
Foreign income taxes, net of federal tax	4,765		9,243		6,679
Non-deductible expenses, including non-deductible penalties	34,825		859		918
Re-measurement of current year losses under CARES Act	—		—		(76,767)
Excess tax benefits from stock-based compensation	(5,247)		(4,227)		(8,556)
Research and development and other federal credits	(33,159)		(34,080)		(30,313)
Executive compensation -162(m)	4,295		3,614		3,813
Foreign-Derived Intangible Income (FDII)	(15,869)		(9,115)		(4,536)
Changes in uncertain tax positions (including indirect effects)	(6,498)		16,938		6,793
Other	3,754		(1,509)		(1,248)
Income tax expense from operations	$	96,734	$	137,466	$	53,481

Schedule of Components of Income Tax Receivables and Payables

The Company has both income tax receivables and income tax payable on its consolidated balance sheet as follows:


	March 31,
	2023		2022
Current income tax receivable	$	23,633	$	47,142
Long term income tax receivable	$	167,821	$	341,738
Current income tax payable	$	14,523	$	34,324

Schedule of Components of Deferred Tax Assets and Liabilities

The significant components of the Company’s deferred income tax assets and liabilities were as follows:


	March 31,
	2023		2022
Deferred income tax assets:
Accrued expenses	$	146,945	$	80,344
Deferred compensation	47,931		56,361
Stock-based compensation	11,628		9,783
Pension and postretirement benefits	28,585		30,797
Net operating loss and other carryforwards	16,984		44,118
Research and development expenditures and indirect effects	599,381		—
State tax credits	11,516		24,268
Operating lease liabilities	69,604		82,799
Other	9,100		2,501
Total gross deferred income tax assets	941,674		330,971
Less: Valuation allowance	(11,788)		(8,715)
Total net deferred income tax assets	929,886		322,256
Deferred income tax liabilities:
Unbilled receivables	(177,321)		(209,753)
Intangible assets	(88,858)		(56,657)
Property and equipment	(34,905)		(198,940)
Operating lease right-of-use assets	(48,939)		(59,401)
Other	(6,083)		(4,780)
Total deferred income tax liabilities	(356,106)		(529,531)
Net deferred income tax asset (liability)	$	573,780	$	(207,275)

Schedule of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of potential tax benefits for the periods presented is as follows:


	March 31,
	2023		2022		2021
Beginning of year	$	78,519	$	62,742	$	55,221
Increases in prior year position	—		2,620		5,018
Increases in current year position	470,881		13,530		12,753
Decreases in prior year position	(1,328)		(373)		—
Settlements with taxing authorities	—		—		—
Lapse of statute of limitations	(187)		—		(10,250)
End of year	$	547,885	$	78,519	$	62,742

Debt - Schedule of Detail of Interest Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Debt Instrument [Line Items]
Amortization of debt issuance cost	$ 4,350	$ 4,619	$ 4,396
Interest Rate Swaps	(1,237)	17,535	20,558
Other	963	494	713
Total Interest Expense	119,850	92,352	81,270
Secured Debt \| New Term Loan A
Debt Instrument [Line Items]
Interest expense, debt	63,463	0	0
Secured Debt \| Existing Term Loan A Loans
Debt Instrument [Line Items]
Interest expense, debt	0	19,570	23,541
Secured Debt \| Existing Term Loan B Loans
Debt Instrument [Line Items]
Interest expense, debt	5,186	7,207	7,787
Revolving Credit Facility
Debt Instrument [Line Items]
Interest expense, debt	0	25	799
Senior Notes
Debt Instrument [Line Items]
Interest expense, debt	$ 47,125	$ 42,902	$ 23,476

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Revenue	$ 9,258,911	$ 8,363,700	$ 7,858,938
Operating costs and expenses:
Cost of revenue	4,304,810	3,899,622	3,657,530
Billable expenses	2,808,857	2,474,163	2,325,888
General and administrative expenses	1,532,912	1,158,987	1,036,834
Depreciation and amortization	165,484	145,747	84,315
Total operating costs and expenses	8,812,063	7,678,519	7,104,567
Operating income	446,848	685,181	754,371
Interest expense	(119,850)	(92,352)	(81,270)
Other income (expense), net	40,951	11,214	(10,662)
Income before income taxes	367,949	604,043	662,439
Income tax expense	96,734	137,466	53,481
Net income	271,215	466,577	608,958
Net loss attributable to non-controlling interest	576	163	0
Net income attributable to common stockholders	$ 271,791	$ 466,740	$ 608,958
Earnings per share of common stock (Note 4):
Basic (in dollars per share)	$ 2.04	$ 3.46	$ 4.40
Diluted (in dollars per share)	$ 2.03	$ 3.44	$ 4.37

Leases - Supplemental Cash Flow and Other Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities	$ 66,529	$ 76,100	$ 69,320
Operating lease liabilities arising from obtaining ROU asset	$ 16,517	$ 41,206	$ 52,454
Weighted average remaining lease term (in years)	4 years 7 months 6 days	5 years
Weighted average discount rate	4.70%	4.50%

Fair Value Measurements

12 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

Fair Value Measurements

The financial instruments measured at fair value in the accompanying consolidated balance sheets consist of the following:


	Recurring Fair Value Measurements as of March 31, 2023
	Level 1		Level 2		Level 3		Total
Assets:
Current derivative instruments (2)	$	—	$	11,245	$	—	$	11,245
Long-term derivative instruments (2)	—		3,530		—		3,530
Long term deferred compensation plan asset (1)	20,090		—		—		20,090

Total Assets	$	20,090	$	14,775	$	—	$	34,865
Liabilities:

Long-term derivative instruments (2)	—		1,369		—		1,369
Long term deferred compensation plan liability (1)	20,090		—		—		20,090
Total Liabilities	$	20,090	$	1,369	$	—	$	21,459


	Recurring Fair Value Measurements as of March 31, 2022
	Level 1		Level 2		Level 3		Total
Assets:

Long term deferred compensation plan asset (1)	$	16,512	$	—	$	—	$	16,512
Long-term derivative instruments (2)	—		4,088		—		4,088
Total Assets	$	16,512	$	4,088	$	—	$	20,600
Liabilities:

Current derivative instruments (2)	$	—	$	4,324	$	—	$	4,324
Long-term derivative instruments (2)	—		39		—		39
Long term deferred compensation plan liability (1)	16,512		—		—		16,512
Total liabilities	$	16,512	$	4,363	$	—	$	20,875

We did not have any material items that were measured at fair value on a non-recurring basis as of March 31, 2023, with the exception of the assets and liabilities acquired through our acquisitions (see Note 5, “Acquisitions and Divestitures,” to the consolidated financial statements).

The fair value of the Company's cash and cash equivalents, which are Level 1 inputs, approximated its carrying values at March 31, 2023 and 2022. The Company’s cash and cash equivalent balances presented on the accompanying Consolidated Balance Sheets include $237.8 million and $4.3 million of marketable securities in money market funds as of March 31, 2023 and 2022, respectively.

The Company's debt is carried at amortized cost and is measured at fair value quarterly for disclosure purposes. The estimated fair values of debt are determined using quoted prices or other market information obtained from recent trading activity of the debt in markets that are not active (Level 2 inputs). The fair value is corroborated by prices derived from the interest rate spreads of recently completed leveraged loan transactions of a similar credit profile, industry, and terms to that of the Company. The fair value of the Senior Notes due 2029 and the Senior Notes due 2028 are determined using quoted prices or other market information obtained from recent trading activity in the high-yield bond market (Level 2 inputs). The carrying amount and estimated fair value of debt consists of the following:


	March 31, 2023				March 31, 2022
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
New Term Loan A	$	1,629,375	$	1,600,861	$	—	$	—
Existing Term Loan A Loans	—		—		1,241,398		1,218,122
Existing Term Loan B Loans	—		—		380,321		379,461
3.88% Senior Notes due 2028	700,000		638,540		700,000		676,228
4.00% Senior Notes due 2029	500,000		451,930		500,000		488,335

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Acquisitions and Divestitures (Tables)

12 Months Ended

Mar. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Schedule of Business Acquisitions, by Acquisition

The following table summarizes the cumulative consideration paid and the allocation of the purchase price paid for Tracepoint and Liberty:


Cash consideration (gross of cash acquired and including net adjustments)	$	789,429
Fair value of non-controlling interest	80,063
Total purchase consideration	869,492

Purchase price allocation:
Cash	9,096
Current assets	57,519
Operating lease right-of-use asset	2,532
Other long-term assets	2,825
Intangible assets	399,500
Current liabilities	(40,217)
Operating lease liabilities - short-term	(1,017)
Operating lease liabilities - long term	(1,516)
Total fair value of identifiable net assets acquired	$	428,722

Goodwill	$	440,770

The following table summarizes the consideration and the preliminary allocation of the purchase price paid for EverWatch:


Cash consideration (gross of cash acquired and including net adjustments)	$	445,074

Purchase price allocation:
Cash	4,779
Current assets	27,725
Operating lease right-of-use asset	7,894
Other long-term assets	4,511
Intangible assets	116,500
Deferred tax liabilities	(22,337)
Current liabilities	(11,613)
Operating lease liabilities - short-term	(1,362)
Operating lease liabilities - long-term	(6,532)
Total fair value of identifiable net assets acquired	$	119,565

Goodwill	$	325,509