Description of Business and Summary of Significant Accounting Policies
 9 Months Ended
Oct. 02, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Description of Business and Summary of Significant Accounting Policies
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Description of Business and Basis of Presentation
Our Business
    Vectrus, Inc. is a leading provider of services to the United States Government (U.S. Government) worldwide. The Company operates as one segment and provides the following services and offerings: facility and base operations; supply chain and logistics services; information technology mission support; and engineering and digital technology services.
    Vectrus was incorporated in the State of Indiana on February 4, 2014. On September 27, 2014, Exelis Inc. (Exelis) completed a spin-off (the Spin-off) of Vectrus, and Vectrus became an independent, publicly traded company. Unless the context otherwise requires, references in these notes to "Vectrus", "we," "us," "our," "the Company" and "our Company" refer to Vectrus, Inc. References in these notes to Exelis or "Former Parent" refer to Exelis Inc. and its consolidated subsidiaries (other than Vectrus) or successor entities.
Basis of Presentation
    Our quarterly financial periods end on the Friday closest to the last day of the calendar quarter (October 2, 2020 for the third quarter of 2020 and September 27, 2019 for the third quarter of 2019), except for the last quarter of the fiscal year, which ends on December 31. For ease of presentation, the quarterly financial statements included herein are described as three months ended.
    The unaudited interim Condensed Consolidated Financial Statements of Vectrus have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (SEC). Accordingly, certain information and footnote disclosures normally included in annual financial statements prepared in accordance with generally accepted accounting principles in the U.S. (GAAP) have been omitted. These unaudited interim Condensed Consolidated Financial Statements should be read in conjunction with our audited Consolidated Financial Statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2019.
    It is management’s opinion that these financial statements include all normal and recurring adjustments necessary for a fair presentation of the Company’s financial position and operating results. Revenue and net income for any interim period are not necessarily indicative of future or annual results.
Immaterial Restatement of Prior Period Balances
    Subsequent to the issuance of our Annual Report on Form 10-K for the year ended December 31, 2019, we identified an error in our historical financial statements related to estimated contract costs for the year ended December 31, 2019 as well as an error in our historical financial statements related to overbilling for a separate contract dating back to 2013, prior to the Spin-off. In the first instance, management determined that additional subcontractor costs should have been included as part of estimated contract costs, resulting in a misstatement in other accrued liabilities and cost of revenue as well as revenue and accounts receivable to a lesser extent. In the second instance, management identified that certain contract costs were incorrectly included in customer billings for one contract, resulting in a misstatement in revenue and other accrued liabilities.
    The cumulative impact of the errors was a $2.5 million decrease in retained earnings as of December 31, 2019. The impact of the errors on net income for the year ended December 31, 2019 is $1.5 million. The impact on diluted earnings per share is a decrease of $0.13 for the year ended December 31, 2019. The impact to diluted earnings per share in the first, second, third, and fourth quarters of 2019 is a decrease of $0.00, $0.00, $0.13, and $0.00, respectively. The impact on diluted earnings per share is a decrease of $0.02 and $0.01 for the years ended December 31, 2018 and 2017, respectively. 
    Accordingly, the Company is restating the relevant financial statements and related footnotes for all applicable periods for these errors and related tax effect and will correct the respective financial statements as they appear in future filings. Management has evaluated the materiality of these misstatements and concluded they were not material to prior periods, individually or in aggregate.
    The effects of the corrections to each of the individual affected line items in our Condensed Consolidated Statements of Income were as follows:
Three Months Ended
September 27, 2019		Nine Months Ended
September 27, 2019
(In thousands, except per share data)As Previously ReportedCorrectionAs CorrectedAs Previously ReportedCorrectionAs Corrected
Revenue$359,854 $19 $359,873 $1,017,371 $(3)$1,017,368 
Cost of revenue325,537 1,986 327,523 921,685 1,986 923,671 
Operating income14,383 (1,967)12,416 35,989 (1,989)34,000 
Income from operations before income taxes12,476 (1,967)10,509 31,178 (1,989)29,189 
Income tax expense3,094 (426)2,668 7,088 (431)6,657 
Net income$9,382 $(1,541)$7,841 $24,090 $(1,558)$22,532 
Earnings per share
Basic$0.82 $(0.14)$0.68 $2.11 $(0.14)$1.97 
Diluted$0.80 $(0.13)$0.67 $2.08 $(0.13)$1.95 
    
    The effects of the corrections to each of the individual affected line items on our Condensed Consolidated Statements of Comprehensive Income were as follows:
Three Months Ended
September 27, 2019		Nine Months Ended
September 27, 2019
(In thousands)As Previously ReportedCorrectionAs CorrectedAs Previously ReportedCorrectionAs Corrected
Net income$9,382 $(1,541)$7,841 $24,090 $(1,558)$22,532 
Total comprehensive income$7,535 $(1,541)$5,994 $20,737 $(1,558)$19,179 
    
    The effects of the corrections to each of the individual affected line items on our Condensed Consolidated Balance Sheet were as follows:
December 31, 2019
(In thousands)As Previously ReportedCorrection As Corrected
Receivables $269,239 $(95)$269,144 
Total current assets320,711 (95)320,616 
Total Assets636,484 (95)636,389 
Other accrued liabilities34,587 2,822 37,409 
Total current liabilities242,257 2,822 245,079 
Deferred tax liability49,808 (401)49,407 
Total non-current liabilities132,846 (401)132,445 
Total Liabilities375,103 2,421 377,524 
Retained earnings187,591 (2,516)185,075 
Total shareholders' equity261,381 (2,516)258,865 
Total Liabilities and Shareholders' Equity$636,484 $(95)$636,389 
    
    The effects of the corrections to each of the individual affected line items on our Condensed Consolidated Statements of Cash Flows were as follows:
Nine Months Ended
September 27, 2019
(In thousands)As Previously ReportedCorrectionAs Corrected
Net income$24,090 $(1,558)$22,532 
Changes in receivables(7,521)(19)(7,540)
Changes in deferred taxes(4,240)(430)(4,670)
Changes in other liabilities7,781 2,007 9,788 
Net cash provided in operating activities $28,448 $— $28,448 
    The effects of the corrections to each of the individual affected line items on our Condensed Consolidated Statements of Changes in Shareholders' Equity were as follows:
Retained EarningsTotal Shareholders' Equity
(In thousands)As Previously ReportedCorrectionAs CorrectedAs Previously ReportedCorrectionAs Corrected
Balance at December 31, 2018$152,616 $(976)$151,640 $221,300 $(976)$220,324 
Net income7,091 (17)7,074 7,091 (17)7,074 
Balance at March 29, 2019159,966 (993)158,973 228,244 (993)227,251 
Net income7,617 — 7,617 7,617 — 7,617 
Balance at June 28, 2019167,583 (993)166,590 239,676 (993)238,683 
Net income9,382 (1,541)7,841 9,382 (1,541)7,841 
Balance at September 27, 2019$176,965 $(2,534)$174,431 $248,335 $(2,534)$245,801