Jacobs Solutions recently released its 10-K report, providing a detailed overview of its financial performance and operations. The company, founded in 1947 and headquartered in Dallas, Texas, offers consulting, technical, engineering, scientific, and project delivery services for various sectors in the United States, Europe, Canada, India, Asia, Australia, New Zealand, the Middle East, and Africa. The company operates through segments including Critical Mission Solutions, People & Places Solutions, Divergent Solutions, and PA Consulting. It provides a wide range of services, including cyber, data analytics, systems and software application integration and consulting, enterprise-level and mission IT, design, nuclear, and enterprise-level operations and maintenance services.
The 10-K report delves into the critical accounting policies and estimates that impact Jacobs Solutions' financial condition and results of operations. The report highlights the company's revenue accounting for contracts, stating that it recognizes engineering, procurement, and construction contract revenue over time as performance obligations are satisfied, based on the continuous transfer of control to the customer. The report also details the company's accounting for pension plans, which requires the use of assumptions and estimates to calculate periodic pension cost and the value of the plans' assets and liabilities. Jacobs Solutions' 10-K also discusses redeemable noncontrolling interests and the fair value of PA Consulting, as well as its approach to litigation, investigations, and insurance, including the estimation of probable liabilities. Additionally, the report addresses the testing of goodwill for possible impairment and the assessment of intangible assets with finite lives.
The 10-K report provides a comprehensive insight into Jacobs Solutions' financial management and the various factors that impact its financial condition and results of operations. It offers a detailed understanding of the company's critical accounting policies and estimates, shedding light on how these policies are applied in preparing its consolidated financial statements. Following these announcements, the company's shares moved 1.4%, and are now trading at a price of $139.3. If you want to know more, read the company's complete 10-K report here.
