Quarterly report pursuant to Section 13 or 15(d)

Revenue

v3.24.3
Revenue
 9 Months Ended
Sep. 30, 2024
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
Disaggregation of Revenues
Our revenues are derived from the delivery of products to our customers and from services performed for commercial and government customers.

A summary of revenues by customer for each of our operating segments for the three and nine months ended September 30, 2024 and 2023 is as follows (in thousands):
Three months ended September 30, 2024 Nine months ended September 30, 2024
Aviation Fleet Total Aviation Fleet Total
Commercial $ 202,786  $ 44,828  $ 247,614  $ 552,066  $ 135,911  $ 687,977 
Other government 856  25,143  25,999  6,787  86,347  93,134 
     Total $ 203,642  $ 69,971  $ 273,613  $ 558,853  $ 222,258  $ 781,111 

Three months ended September 30, 2023 Nine months ended September 30, 2023
Aviation Fleet Total Aviation Fleet Total
Commercial $ 150,715  $ 37,430  $ 188,145  $ 386,595  $ 108,011  $ 494,606 
Other government 1,640  41,568  43,208  3,724  126,833  130,557 
     Total $ 152,355  $ 78,998  $ 231,353  $ 390,319  $ 234,844  $ 625,163 

A summary of revenues by type for each of our operating segments for the three and nine months ended September 30, 2024 and 2023 is as follows (in thousands):
Three months ended September 30, 2024 Nine months ended September 30, 2024
Aviation Fleet Total Aviation Fleet Total
Repair $ 83,012  $ —  $ 83,012  $ 209,056  $ —  $ 209,056 
Distribution 120,630  69,971  190,601  349,797  222,258  572,055 
     Total $ 203,642  $ 69,971  $ 273,613  $ 558,853  $ 222,258  $ 781,111 

Three months ended September 30, 2023 Nine months ended September 30, 2023
Aviation Fleet Total Aviation Fleet Total
Repair $ 44,713  $ —  $ 44,713  $ 112,328  $ —  $ 112,328 
Distribution 107,642  78,998  186,640  277,991  234,844  512,835 
     Total $ 152,355  $ 78,998  $ 231,353  $ 390,319  $ 234,844  $ 625,163 


Contract Balances

Contract balances were as follows (in thousands):
September 30, December 31,
Financial Statement Classification 2024 2023
Billed and billable receivables
Receivables, net
 $ 162,665  $ 127,958 
Contract assets - unbilled receivables
Contract assets
 $ 29,549  $ 8,049 
Contract liabilities Accrued expenses and other current liabilities $ 6,039  $ 2,785 
For the nine months ended September 30, 2024 and 2023, we recognized revenue that was previously included in the beginning balance of contract liabilities of $1.8 million and $0.9 million, respectively.