What changed in this filing

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Item 1. Business

2020-11-23 compared with 2019-11-29 · 149 added, 93 removed, 420 unchanged (37% of the section changed)

Tetra Tech, Inc.

is a leading global provider of consulting and engineering services that focuses on water, environment, infrastructure, resource management, energy, and international development.

("Tetra Tech") is a leading global provider of consulting and engineering services that focuses on water, environment, sustainable infrastructure, resource management, energy, and international development.

We are a global company that is Leading with Science® to provide innovative solutions for our public and private clients.

We typically begin at the earliest stage of a project by identifying technical solutions and developing execution plans tailored to our clients' needs and resources.

Engineering News-Record ("ENR"), the leading trade journal for our industry, has ranked us the number one water services firm for the past 16 years, most recently in its May 2019 "Top 500 Design Firms" issue.

In 2019, we were also ranked number one in water treatment/desalination, water treatment and supply, environmental management, environmental science, consulting/studies, solid waste, hydro plants, and wind power.

ENR ranks us among the largest 10 firms in numerous other service lines, including engineering/design, chemical and soil remediation, site assessment and compliance, dams and reservoirs, power, transmission and distribution plants, and hazardous waste.

Tetra Tech is Leading with Science® to provide sustainable and resilient solutions to our clients' most complex needs.

Engineering News-Record ("ENR"), the engineering industry's leading magazine, has ranked Tetra Tech #1 in Water for 17 years in a row.

In 2020, we were also ranked #1 in dams and reservoirs, environmental management, environmental science, hydro plants, solid waste, water treatment/desalination, water treatment/supply, and wind power.

ENR also ranked Tetra Tech in the top 10 in several categories, including chemical and soil remediation, green building design, hazardous waste, solar power, and site assessment and compliance.

Our reputation for high-end consulting and engineering services and our ability to develop solutions for water and environmental management has supported our growth for more than 50 years.

Today, we are proud to be making a difference in people’s lives worldwide through broad consulting, engineering, and technology service offerings.

We are working on over 70,000 projects a year, in more than 100 countries on seven continents, from 450 offices, with a talent force of 20,000 associates.

We are Leading with Science throughout our operations, with domain experts across multiple disciplines supported by advanced analytics, artificial intelligence ("AI"), machine learning, and digital technology.

Today, we are proud to be making a difference in people’s lives worldwide through broad consulting, engineering, and technology servic e offerings.

In fiscal 2020, we worked on over 65,000 projects, in more than 100 countries on seven continents, with a talent force of 20,000 associates.

We are Leading with Science® throughout our operations, with domain experts across multiple disciplines supported by our advanced analytics, artificial intelligence ("AI"), machine learning, and digital technology solutions.

Our ability to provide innovation and first-of-kind solutions is enhanced by partnerships with our forward-thinking clients.

We are diverse and inclusive, embracing the breadth of experience across our talent force worldwide with a culture of innovation and entrepreneurship.

We are diverse and inclusive, embracing the breadth of experience across our talented workforce worldwide with a culture of innovation and entrepreneurship.

We are disciplined in our business delivering value to customers and high performance to our shareholders.

In supporting our clients, we seek to add value and provide long-term sustainable consulting, engineering, and technology solutions.

By combining ingenuity and practical experience, our mission is to be the world's leading consulting and engineering firm solving global challenges in water and the environment that make a positive difference in people's lives worldwide.

By combining ingenuity and practical experience, we have helped to advance sustainable solutions for managing water, protecting the environment, providing energy, and engineering the infrastructure for our cities and communities.

Our mission is to be the world's leading consulting and engineering firm solving global challenges in water and the environment that make a positive difference in people's lives worldwide.

The following core principles form the underpinning of how we work together to serve our clients:

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We develop and implement sustainable solutions that are innovative, efficient and practical.

• Excellence.

We bring superior technical capability, disciplined project management, and excellence in safety and quality to all of our services.

• Opportunity.

Our people are our number one asset.

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Our client-focused project management is supported by strong fiscal management and financial tools.

We use a disciplined approach to monitoring, managing, and improving

our return on investment in each of our business areas through our efforts to negotiate appropriate contract terms, manage our contract performance to minimize schedule delays and cost overruns, and promptly bill and collect accounts receivable.

We use a disciplined approach to monitoring, managing, and improving our return on investment in each of our business areas through our efforts to negotiate appropriate contract terms, manage our contract performance to minimize schedule delays and cost overruns, and promptly bill and collect accounts receivable.

We have a broad client and contract base built by proactively understanding our clients' priorities and demonstrating a long track record of successful performance that results in repeat business and limits competition.

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We are often at the leading edge of new challenges where we are delivering one-of-a-kind solutions.

These might be a new water reuse technology, a unique solution to addressing new regulatory requirements, a new monitoring approach for assessing infrastructure assets or a computer model for real time management of water resources.

These might be a new water treatment technology, a unique solution to addressing new regulatory requirements, a new system for automated assessment of infrastructure assets or a digital twin for real time management of water treatment systems.

We combine interdisciplinary capabilities, technical resources, and institutional knowledge to implement complex projects that are at the leading edge of policy and technology development.

Leading with Science ®

In implementing our projects, we integrate deep domain knowledge, technologies, and practical expertise.

These tools and technologies that differentiate us are called Tetra Tech Delta ("TtΔ").

We use this suite of technologies and analytical tools to provide value engineering and cost efficiencies for our clients, while enhancing the effectiveness and responsiveness of our solutions.

TtΔ is our proprietary collection of technology and analytical tools.

At Tetra Tech, we provide value-generating solutions by combining operational expertise, science, and technology.

By Leading with Science® and leveraging our collective technology including advanced data analytics and digital technologies, we create transformational solutions for our clients.

Tetra Tech's proprietary technologies and solutions, referred to collectively as the Tetra Tech Delta, differentiate us in the market and provide us with a competitive advantage.

We create customized solutions;

from smart data collection and advanced analytics that support decision making to AI enabled solutions for asset management.

Our Tetra Tech Delta technologies are drawn from our decades of operational experience and a reservoir of technical applications that are shared throughout our company.

Our high-end teams connect interdisciplinary experts from across our company's 20,000 staff worldwide.

Tetra Tech mobilizes teams that include analysts, statisticians, digital engineers, and industry experts who effectively implement value-generating and pragmatic solutions for our clients.

These advanced analytical solutions enable us to provide clients with real-time reporting, automated and remote data collection, and dashboards for tracking and communicating results.

TtΔ is continually evolving and includes cutting-edge tools on interpretive analysis, modeling of physical systems, forecasting and scenario analysis, optimization and operations research.

Tetra Tech Delta is continually expanding and includes cutting-edge tools on interpretive analysis, modeling of physical systems, forecasting and scenario analysis, optimization and operations research.

In implementing our Leading with Science® approach, we work with our clients to explore, incubate, and test solutions in our Tetra Tech Innovation Hubs ("Tt I-Hub").

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We actively share information, ideas, and resources across our global operations through our network structure, guided subject matter teams, and project team building.

We also proactively share emerging technology and new ideas through our Tetra Tech Technology Transfer ("T4") program.

We also proactively share emerging technology and new ideas through our knowledge transfer system, Tetra Tech Technology Transfer ("T4").

T4 facilitates our innovation culture through webcasts, blogs, multi-media, and social media across our global operations.

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commercial clients and international clients other than development agencies.

This alignment allows us to capitalize on our growing market opportunities and enhance the development of high-end consulting and technical solutions to meet our growing client demand.

We continue to report the results of the wind-down of our non-core construction activities in the Remediation and Construction Management ("RCM") reportable segment.

These reportable segments allow us to capitalize on our growing market opportunities and enhance the development of high-end consulting and technical solutions to meet our growing client demand.

We continued to report the results of the wind-down of our non-core construction activities in the Remediation and Construction Management ("RCM") reportable segment.

The following table presents the percentage of our revenue by reportable segment:

Reportable Segment 2020 2019 2018

GSG 59.4% 58.6% 57.2%

CIG 42.3 43.1 44.6

Inter-segment elimination (1.7) (1.7) (2.3)

100.0% 100.0% 100.0%

For additional information regarding our reportable segments, see Note 18, "Reportable Segments" of the "Notes to Consolidated Financial Statements" included in Item 8.

For more information on risks related to our business, segments and geographic regions, including risks related to foreign operations, see Item 1A, “Risk Factors” of this report.

For more information on risks related to our business, reportable segments and geographic regions, including risks related to foreign operations, see Item 1A, “Risk Factors” of this report.

Government Services Group

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GSG supports U.S.

government civilian and defense agencies with services in water, environment, infrastructure, information technology, and disaster management.

government civilian and defense agencies with services in water, environment, sustainable infrastructure, information technology, and disaster management.

GSG also provides engineering design services for U.S.

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We provide smart water infrastructure solutions that integrate water modeling, instrumentation and controls, and real-time controls to create flexible water systems that respond to changing conditions, optimize use of existing infrastructure, and provide clients with the ability to more efficiently monitor and manage their water infrastructure.

We provide operational technology for secure management of water treatment and wastewater systems, including cybersecurity assessment and digital twin solutions.

We also support government agencies in the full range of disaster response and community resilience services including monitoring and environmental response, damage assessment and program management services, and resilient engineering design and mitigation planning.

We have a full suite of innovative software tools and procedures that support our disaster response, planning, and management support services.

We have a full suite of proprietary software tools and procedures that support our disaster response, planning, and management support services.

These tools and procedures address disaster management and community resilience data management needs, including information technology systems, portals, dashboards, data management, data analytics, and statistical analysis.

GSG provides planning, architectural, and sustainable engineering services for U.S.

federal, state and local government facilities and commercial high-rise multi-use buildings.

federal, state and local government facilities and non-residential commercial buildings.

We support the government agencies with related infrastructure needs including military housing, and educational, institutional, and research facilities.

Our high-performance buildings practice provides sustainable energy, water, and GHG efficient solutions including civil, electrical, mechanical, structural, plumbing and fire protection engineering and design services for buildings and surrounding developments.

We provide high-end services in addressing indoor health and associated assessment, consulting, and retrofits of buildings to address indoor air quality and

We also provide engineering services for a wide range of clients with specialized needs, such as security systems, training and audiovisual facilities, clean rooms, laboratories, medical facilities and disaster preparedness facilities.

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and providing full-service solutions for gas-to-energy facilities to efficiently use landfill methane gas.

We provide high-end advanced analytics and information technology ("IT") consulting and support to various federal clients including AI applications, machine learning, modernization of IT systems, and cloud migration.

We design solutions to manage and analyze data for major federal agency programs including data related to health, security, environment, and water programs.

We use our e-lab to demonstrate and test technology solutions to facilitate rapid deployment by our clients.

We provide technical support for the Federal Aviation Administration ("FAA") to optimize the U.S.

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and providing systems analysis and information management.

We also provide information technology ("IT") support to various federal clients for modernization of IT systems, cloud migration, AI, and machine learning.

We support governments in implementing international development programs for developing nations to help them address numerous challenges, including access to potable water and adapting to the threats of climate change.

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CIG supports commercial clients across the Fortune 500, energy utilities, industrial, manufacturing, aerospace, and resource management markets.

CIG also provides infrastructure and related environmental and geotechnical services, testing, engineering and project management services to commercial and local government clients across Canada, in Asia Pacific (primarily Australia and New Zealand), the United Kingdom, as well as Brazil and Chile.

CIG also provides infrastructure and related environmental, engineering and project management services to commercial and local government clients across Canada, in Asia Pacific (primarily Australia and New Zealand), the United Kingdom, as well as Brazil and Chile.

CIG provides consulting and engineering services worldwide for a broad range of water, environment, and sustainable infrastructure-related needs in both developed and emerging economies.

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and supporting both commercial and government clients in planning and implementing remedial activities at numerous sites around the world, and providing a broad range of environmental analysis and planning services.

CIG also supports commercial clients by providing design services to renovate, upgrade, and modernize industrial water supplies, and address industrial water treatment and water reuse needs;

CIG also supports U.S.

commercial clients by providing design services to renovate, upgrade, and modernize industrial water supplies, and address industrial water treatment and water reuse needs;

and provides plant engineering, project execution, and program management services for industrial water treatment projects throughout the world.

CIG's international services, especially in Canada and Asia-Pacific, include high-end analytical, engineering, architecture, geotechnical, and construction management services for infrastructure projects, including roadway monitoring and asset management services, collection of condition data, optimization of upgrades and long-term planning for expansion;

CIG's international services, especially in Canada and Asia-Pacific, include high-end analytical, engineering, architecture, geotechnical, and construction management services for infrastructure projects, including rail and roadway monitoring and asset management services, collection of condition data, optimization of upgrades and long-term planning for expansion;

multi-modal design services for commuter railway stations, airport expansions, bridges and major highways, and ports and harbors;

and designing solutions to repair, replace, and upgrade older transportation infrastructure.

and designing resilient solutions to repair, replace, and upgrade older transportation infrastructure.

CIG provides infrastructure design services in extreme and remote areas by using specialized techniques that are adapted to local resources, while minimizing environmental impacts, and considering potential climate change impacts.

These include providing consulting, geotechnical, and design services to owners of transportation, natural resources, energy and community infrastructure in areas of permafrost or extreme climate regions.

management, and operational services, and advising on the design and implementation of smart grids both in the U.S.

and internationally, including increasing utility automation, information and operational technologies, and critical infrastructure security.

For utilities and governmental regulatory agencies, services include policy and regulatory development, utility management, performance improvement, asset management and evaluation, and transaction support services.

For developers and owners of renewable energy resources such as solar grid and off-grid, on-shore and off-shore wind, biogas and biomass, tidal, and hydropower, and conventional power generation facilities, micro-grid and battery or alternative storage facilities, as well as transmission and distribution assets, services include environmental, engineering, procurement, operations and maintenance, and regulatory support for all project phases.

CIG's energy services include support for electric power utilities and independent power producers worldwide, ranging from macro-level planning and management advisory services to project-specific environmental, engineering, construction management, and operational services, and advising on the design and implementation of smart grids, both domestically and internationally, including increasing utility automation, information and operational technologies, and critical infrastructure security.

For utilities and governmental regulatory agencies, our services include policy and regulatory development, utility management, performance improvement, asset management and evaluation, and transaction support services.

For developers and owners of renewable energy resources such as solar grid and off-grid, on-shore and off-shore wind, biogas and biomass, tidal, and hydropower, and conventional power generation facilities, micro-grid and battery or alternative storage facilities, as well as transmission and distribution assets, our services include environmental, engineering, procurement, operations and maintenance, and regulatory support for all project phases.

CIG supports industrial and energy clients, primarily in North America, in the upstream, midstream and downstream market sectors.

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and hazardous waste site remediation.

CIG also provides environmental remediation and reconstruction services to evaluate and restore lands to beneficial use, including the identification, evaluation and destruction of unexploded ordinance, both domestically and internationally;

investigating, remediating, and restoring contaminated facilities at military locations in the U.S.

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managing large, complex sediment remediation programs that help restore rivers and coastal waters to beneficial use;

constructing state-of-the-art water treatment plants for commercial clients;

constructing state-of-the-art water treatment plants for U.S.

commercial clients;

and supporting utilities in the U.S.

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Project Examples

Project examples are provided on our company website located at tetratech.com, including expert interviews, in-depth articles, and project profiles that demonstrate our services across water, environment, infrastructure, energy, resource management, and international development.

Project examples are provided on our company website located at tetratech.com, including expert interviews, in-depth articles, and project profiles that demonstrate our services across water, environment, sustainable infrastructure, energy, resource management, and international development.

We provide services to a diverse base of U.S.

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federal government (1)

33.2 30.3 32.9

commercial 22.5 23.1 26.6

International (2)

29.6 27.7 24.7

100.0% 100.0% 100.0%

(1) Includes revenue generated under U.S.

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Contract Type 2020 2019 2018

Fixed-price 36.0% 33.7% 33.3%

Time-and-materials 46.5 48.6 47.1

Under a fixed-price contract, the client agrees to pay a specified price for our performance of the entire contract or a specified portion of the contract.

Cost-plus 17.5 17.7 19.6

100.0% 100.0% 100.0%

Under a fixed-price contract, clients agree to pay a specified price for our performance of the entire contract or a specified portion of the contract.

Some fixed-price contracts can include date-certain and/or performance obligations.

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Some of our operating units have contracts with the U.S.

federal government that are subject to audit by the government, primarily by the Defense Contract Audit Agency ("DCAA").

federal government that are subject to audit by the government, primarily the Defense Contract Audit Agency ("DCAA").

The DCAA generally seeks to (i) identify and evaluate all activities that contribute to, or have an impact on, proposed or incurred costs of government contracts;

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During the course of its audit, the U.S.

federal government may disallow costs if it determines that we accounted for such costs in a manner inconsistent with CAS.

federal government may disallow certain costs if it determines that we accounted for such costs in a manner inconsistent with CAS.

Under a government contract, only those costs that are reasonable, allocable, and allowable are recoverable.

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In addition, we maintain preventative audit programs and mitigation measures to ensure that appropriate control systems are in place.

We provide our services under contracts, purchase orders, or retainer letters.

We provide services under contracts, purchase orders, or retainer letters.

Our policy requires that all contracts must be in writing.

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We have established company-wide growth initiatives that reinforce internal coordination, track the development of new programs, identify and coordinate collective resources for major bids, and help us build interdisciplinary teams and provide innovative solutions for major pursuits.

Our growth initiatives provide a forum for cross-sector collaboration and the development of interdisciplinary solutions.

Our growth initiatives provide a forum for cross-sector collaboration, access to technical solutions, and the development of interdisciplinary solutions.

We continuously identify new markets that are consistent with our strategic plan and service offerings, and we leverage our full-service capabilities and internal coordination structure to develop and implement strategies to research, anticipate, and position us for future procurements and emerging programs.

Business development activities are implemented by our technical and professional management staff throughout the company with the support of company-wide resources and expertise.

Our project managers and technical staff have the best understanding of a client's needs and the effect of local or client-specific issues, laws and regulations, and procurement procedures.

Our Tetra Tech Delta program facilitates access and exchange of technology solutions across our company, through the use of internal training, inventories, and facilitated virtual networking events.

Business development activities are implemented by our technical and professional management staff throughout Tetra Tech with the support of company-wide resources and expertise.

Our project managers and technical staff have the best understanding of our clients' needs and the effect of local or client-specific issues, laws and regulations, and procurement procedures.

Our professional staff members hold frequent meetings with existing and potential clients;

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and present seminars on research and technical applications.

Essential to the effective development of business is each staff member's access to all our service offerings through our internal technical and geographic networks.

Essential to the effective development of business is each staff member's access to all of our service offerings through our internal Tetra Tech Delta and geographic networks.

Our strong internal networking programs help our professional staff members to pursue new opportunities for both existing and new clients.

These networks also facilitate our ability to provide services throughout the project life cycle from the early studies to operations and maintenance.

Our enterprise-wide knowledge management systems include skills search tools, business development tracking, and collaboration tools.

Networking is further supported by our enterprise-wide knowledge management systems which include skills search tools, business development tracking, and collaboration tools.

To support our growth plans, we actively attract, recruit and retain key hires.

Our combination of high-end science and consulting coupled with practical applications provides challenging and rewarding opportunities for our associates, thereby enhancing our ability to recruit and retain top quality talent.

Our internal networking programs, leadership training, entrepreneurial environment, focus on technical excellence, and global project portfolio help to attract and retain highly qualified individuals.

Our internal networking programs, leadership training, entrepreneurial environment, focus on Leading with Science® , and global project portfolio help to attract and retain highly qualified individuals.

Our strategic growth plans are augmented by our selective investment in acquisitions aligned with our business.

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Tetra Tech supports clients in more than 100 countries around the world, helping them to solve complex problems and achieve solutions that are technically, socially, and economically resilient.

Our high-end consulting and engineering services focus on using innovative technologies and creative solutions to minimize environmental impacts.

Our greatest contribution toward sustainability is through the projects we perform every day for our clients.

Sustainability is embedded in our projects – from recycling freshwater supplies to recycling waste products, reducing energy consumption, and reducing GHG emissions in developing countries.

Our Sustainability Program enables us to further expand our commitment to sustainability by encouraging, coordinating, and reporting on actions to minimize our collective impacts on the environment.

Our Sustainability Program has three primary pillars:

Our high-end consulting and engineering services focus on using innovative technologies and creative solutions to minimize environmental impacts and enhance social systems.

Our greatest contribution toward sustainability is through the projects we perform every day for our clients, including recycling freshwater supplies, recycling waste products, and reducing greenhouse gas emissions.

In developing countries, we also support gender equality programs, strengthen land tenure, and increase climate resiliency and adaptation.

As a signatory of the United Nations Global Compact ("UNGC") on human rights, labor, environment, and anti-corruption, Tetra Tech embraces the UNGC Ten Principles as part of the strategy, culture, and daily operations of our company.

Our Sustainability Program enhances our commitment by focusing on the environmental, social, and governance impact of our business via four primary pillars:

Projects – the solutions we provide for our clients;

Procurement – our procurement and subcontracting approaches;

and Processes – the internal policies and processes that promote sustainable practices, reduce costs, and minimize environmental impacts.

In addition, our program is based on the Global Reporting Initiative ("GRI") Sustainability Report Framework, the internationally predominant sustainability reporting protocol for corporate sustainability plans, which includes three fundamental areas:

environmental, economic, and social sustainability.

Processes – the internal policies and processes that promote sustainable practices,

reduce costs, and minimize environmental impacts;

and People – the 20,000 staff at Tetra Tech and our partners, clients, and communities worldwide.

In addition, our program is based on the Global Reporting Initiative ("GRI") Sustainability Report Framework, the internationally accepted sustainability reporting protocol for corporate sustainability plans, which includes three fundamental areas:

environmental, economic, and governance.

Our Sustainability Program is led by our Chief Sustainability Officer, who has been appointed by executive management and is supported by other key corporate and operations representatives via our Sustainability Council.

We have established a clear set of metrics to evaluate our progress toward our sustainability goals.

Each metric corresponds with one or more performance indicators from GRI.

These metrics include economic, health and safety, information technology, human resources, and real estate.

We continuously implement sustainability-related policies and practices, and we assess the results of our efforts in order to improve upon them in the future.

We have established a clear set of metrics to evaluate our progress toward our corporate sustainability goals.

Each metric corresponds with one or more performance indicators from GRI and include the following categories:

environmental (greenhouse gas emissions), economic, health and safety, information technology, human resources, and real estate.

We continuously implement sustainability-related policies and practices and assess the results of our efforts in order to improve upon them in the future.

Our executive management team reviews and approves the Sustainability Program and evaluates our progress in achieving the goals and objectives outlined in our plan.

We publish an annual sustainability report on Earth Day each year that documents our progress and is posted on our website located at tetratech.com.

As part of the UNGC, we fulfill the annual Communication on Progress via Tetra Tech's Sustainability Report Card that is published on Earth Day.

Tetra Tech also participates in the Dow Jones Sustainability Index Corporate Sustainability Assessment.

Acquisitions and Divestitures

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Accordingly, from time to time, we may divest or wind-down certain non-core businesses and reallocate our resources to businesses that better align with our long-term strategic direction.

For detailed information regarding acquisitions and divestitures, see Note 6 , " Acquisitions and Divestitures " of the "Notes to Consolidated Financial Statements" included in Item 8.

For detailed information regarding acquisitions, see Note 5, "Acquisitions and Divestitures" of the "Notes to Consolidated Financial Statements" included in Item 8.

The market for our services is generally competitive.

We often compete with many other firms ranging from small regional firms to large international firms.

We perform a broad spectrum of consulting, engineering, and technical services across the water, environment, infrastructure, resource management, energy, and international development markets.

We perform a broad spectrum of consulting, engineering, and technical services across the water, environment, sustainable infrastructure, resource management, energy, and international development markets.

Our client base includes U.S.

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We include in our backlog only those contracts for which funding has been provided and work authorization has been received.

We estimate that approximately 62% of our backlog at the end of fiscal 2019 will be recognized as revenue in fiscal

2020, as work is being performed.

We estimate that approximate ly 58% of ou r backlog at the end of fiscal 2020 will be recognized as revenue in fiscal 2021, as work is being performed.

However, we cannot guarantee that the revenue projected in our backlog will be realized or, if realized, will result in profits.

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At fiscal 2020 year-end, our backlog was $3.2 billion, an increase of $147.4 million, or 4.8%, compared to fiscal 2019 year-end.

Approximately $ 2.1 billion and $ 1.0 billion of our backlog at the end of fiscal 2019 related to GSG and CIG, respectively.

Approximately $2.2 billion and $1.0 billion of our backlog at fiscal 2020 year-end related to GSG and CIG, respectively.

We engage in various service activities that are subject to government oversight, including environmental laws and regulations, general government procurement laws and regulations, and other regulations and requirements imposed by the specific government agencies with which we conduct business.

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Our revenue and operating income are typically lower in the first half of our fiscal year, primarily due to the Thanksgiving (in the U.S.), Christmas and New Year's holidays.

Many of our clients' employees, as well as our own employees, take vacations during these holiday periods.

Many of our clients'

employees, as well as our own employees, take vacations during these holiday periods.

Further, seasonal inclement weather conditions occasionally cause some of our offices to close temporarily or may hamper our project field work in the northern hemisphere's temperate and arctic regions.

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However, partially or completely uninsured claims, if successful and of significant magnitude, could have a material adverse effect on our business.

Human Capital Management

At fiscal 2020 year-end, we had approximately 20,000 staff worldwide.

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See Part I, Item 1A, "Risk Factors" for a discussion of the risks related to the loss of key personnel or our inability to attract and retain qualified personnel.

Diversity and Inclusion.

Tetra Tech brings together engineers and technical specialists from all backgrounds to solve our clients' most challenging problems.

Our Diversity and Inclusion Policy guides the Board of Directors, management, associates, subcontractors, and partners in developing an inclusive culture.

Our Diversity and Inclusion Council monitors Tetra Tech's diversity and inclusion practices and makes recommendations to the Board of Directors and Chief Executive Officer for any changes or improvements to our program.

Tetra Tech values diversity and inclusion and undertakes various efforts throughout its operations to promote these initiatives.

Our current efforts are focused on three primary areas:

• Safe work environment.

We provide training to all associates to improve their understanding of behaviors that can be perceived as discriminatory, exclusionary, and/or harassing, and provide safe avenues for associates to report such behaviors.

• Equal employment opportunity.

Tetra Tech ensures that our practices and processes attract a diverse range of candidate, and that candidates are recruited, hired, assigned, developed, and promoted based on merit and their alignment to our values.

• Learning and development opportunities.

To support our associates in reaching their full potential, Tetra Tech offers a wide range of internal and external learning and development opportunities.

Education assistance is offered to financially support associates who seek to expand their knowledge and skill base.

As part of Tetra Tech's commitment to a culture of inclusion, in fiscal 2020 we launched our Global Resource Group ("ERG") Program, which broadens and enhances company-wide interaction opportunities for our employees.

Our ERG's are open to all and involve activities for both employees whose background is the focus of the ERG and those who are supportive of the group (also known as allies).

These global networks build on and coordinate with the many local networks that are already active throughout our operations and include groups focused on the experiences of Black, Latino, Women, Veterans, and LGBTQ employees.

Professional Development.

Tetra Tech invests in the professional development of our associates.

They are provided with training in leadership development, project management skills, and interpersonal skills development.

Our focused programs are designed, taught, and facilitated by Tetra Tech leadership, consistent with our commitment to talent development.

These programs include the following:

• Tetra Tech Leadership Academy.

Tetra Tech Leadership Academy develops our high-potential associates from around the world into outstanding business leaders.

Instructors for this intensive, year-long program are executive management and operational leaders.

Participants are immersed in all aspects of the operations of Tetra Tech and complete challenging, real-world assignments designed to hone their leadership and management skills.

• Project Excellence Program.

Tetra Tech develops Project Managers who are world class in their abilities and performance.

The program is led by our Chief Engineer and involves extensive training on how to effectively manage all components of a project.

• Fearless Entrepreneur Program.

Tetra Tech develops into client-oriented, business-minded professionals who are driven to understand and meet the needs of our clients.

Developing professionals are challenged and mentored through a process of building client relationships.

Participants take part in group discussions in a classroom setting and then are required to implement learned strategies with actual and potential clients.

• Tetra Tech Technology Transfer (T4) and ToolTalk Webcast Series.

Tetra Tech holds webcasts to help associates around the world share technical resources and enhance their use of available internal tools and to provide better service to clients.

Through the T4 and ToolTalk Webcast Series, Tetra Tech experts present and lead discussions about new technologies and programs, best practices, and opportunities for growth across our company.

By offering our associates meaningful work and career development, Tetra Tech is well positioned to continue its growth through recruitment, development, and retention of the best talent in the industry.

Executive Officers of the Registrant

The following table shows the name, age and position of each of our executive officers at November 20, 2020:

Chairman and Chief Executive Officer

Name Age Position

Batrack 62 Chairman and Chief Executive Officer

Batrack joined our predecessor in 1980 and was named Chairman in January 2008.

He has served as our Chief Executive Officer and a director since November 2005, and as our President from October 2008 to September 2019.

Batrack has served in numerous capacities over the last 30 years, including project scientist, project manager, operations manager, Senior Vice President and President of an operating unit.

Batrack has served in numerous capacities over the last 40 years, including arctic research scientist, deep water oceanographic hydrographer, coastal hydrodynamic modeler, environmental data analyst, project and program manager, President of the Engineering Division, and in 2004 he was appointed Chief Operating Officer.

He has managed complex programs for many small and Fortune 500 clients, both in the United States and internationally.

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degree in Business Administration from the University of Washington.

Shoemaker 63 President

Shoemaker was appointed President in September 2019, having previously served as President of WEI Business Group from April 2015 to November 2017, and CIG from November 2017 to September 2019.

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in Agricultural Engineering from the University of Maryland.

Executive Vice President, Chief Financial Officer

Burdick 56 Executive Vice President, Chief Financial Officer

Burdick has served as our Executive Vice President, Chief Financial Officer since April 2011.

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degree in Business Administration from Santa Clara University and is a Certified Public Accountant.

Senior Vice President, President of CIG and the Commercial Account Management Division of CIG

Amidon was appointed President of CIG in September 2019, in addition to his role as President of CIG's Commercial Account Management Division.

Name Age Position

Amidon 53 Senior Vice President, President of CIG and the Client Account Management Division of CIG

Amidon was appointed President of CIG in September 2019, in addition to his role as President of CIG's Client Account Management Division.

Amidon has served as a project manager, key account manager, operations manager, and regional manager since joining us in 2012.

8 unchanged sentences

in Management from Rensselaer Polytechnic Institute.

Senior Vice President, President of GSG and the U.S.

Argus 59 Senior Vice President, President of GSG and the U.S.

Government Division of GSG

6 unchanged sentences

in Chemical Engineering from California State University, Long Beach.

Senior Vice President, President of the Global Development Services Division of GSG

Auman joined us through an acquisition in 2007.

He has over 40 years of experience managing large, complex international development and technical assistance operations, having served 10 years with the United States federal government and 30 years in the private sector.

With 20 years of residence overseas in eight countries, Mr.

Auman has hands-on technical expertise in the areas of natural resources management, conflict resolution, political transformation, institutional development, and policy formulation in the Middle East, the South Pacific, the Caribbean, and Africa.

Auman’s overall direction for our international development operations includes technical, operational, administrative, fiscal, and representational responsibilities involving operations that manage projects in over 60 countries.

He holds a B.A.

in Political Science and Government from Pennsylvania State University and an M.I.A in International Administration from the School for International Training.

Senior Vice President, Chief Engineer and Corporate Risk Management Officer

Brownlie 67 Senior Vice President, Chief Engineer and Corporate Risk Management Officer

Brownlie was named Senior Vice President and Chief Engineer in September 2009, and Corporate Risk Management Officer in November 2013.

8 unchanged sentences

in Civil Engineering from the California Institute of Technology.

Senior Vice President, Corporate Controller and Chief Accounting Officer

Name Age Position

Carter 53 Senior Vice President, Corporate Controller and Chief Accounting Officer

Carter joined us as Vice President, Corporate Controller and Chief Accounting Officer in June 2011 and was appointed Senior Vice President in October 2012.

3 unchanged sentences

in Business Administration from Miami University and is a Certified Public Accountant.

Senior Vice President, Chief Information Officer

Christensen 67 Senior Vice President, Chief Information Officer

Christensen joined us in 1998 through the acquisition of our Tetra Tech NUS, Inc.

7 unchanged sentences

degrees from Brigham Young University.

Preston Hopson

Senior Vice President, General Counsel and Secretary

Preston Hopson 44 Senior Vice President, General Counsel and Secretary

Hopson was appointed Senior Vice President, General Counsel and Secretary to the Board of Directors in January 2018.

7 unchanged sentences

degrees from Yale University.

Senior Vice President, Corporate Administration

Lemmon 61 Senior Vice President, Corporate Administration

Lemmon joined our predecessor in 1981 in a technical capacity and became a member of its corporate staff in a management position in 1985.

1 unchanged sentence

Lemmon structured and managed many of our corporate functions.

He is currently responsible for insurance, risk management, human resources, safety and facilities.

Senior Vice President, Enterprise Risk Management

He is currently responsible for insurance, health and safety and facilities.

O'Rourke 47 Senior Vice President, Enterprise Risk Management

O'Rourke joined us in January 2018 as Vice President, Enterprise Risk Management and was appointed Senior Vice President, Enterprise Risk Management in November 2018.

6 unchanged sentences

from Worcester State University.

Senior Vice President, President of the U.S.

Infrastructure Division of GSG

Rynning has more than 30 years of experience in the engineering consulting industry, including 27 years with us.

Name Age Position

Rynning 59 Senior Vice President, President of the Resilient and Sustainable Infrastructure Division of GSG

Rynning has more than 30 years of engineering consulting experience with us.

He is a registered professional engineer and has served us in numerous capacities including project manager, operations manager, and operating unit leader.

6 unchanged sentences

in Civil Engineering and a Master of Business Administration, both from the University of Florida.

Bernard Teufele

Senior Vice President, President of the Canada and South America Division of CIG

Bernard Teufele 55 Senior Vice President, President of the Canada and South America Division of CIG

Teufele joined us through an acquisition in 2010.

11 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business