When we first shared our thesis in June of 2018, we committed to 50% growth in adjusted diluted earnings per share over three years.
ADEPS nearly doubled over the period to $3.90 in fiscal year 2021.
Average annual revenue growth was above the midpoint of the 6% to 9% range we originally provided.
Adjusted EBITDA margin was above 10% in each of the three years and we deployed $1.3 billion in capital.
And throughout, we continued to invest in our people, especially when we set aside $100 million in response to the pandemic to support our employees and help the most vulnerable in our communities.
And as the market began to stabilize post-transition, our team did a great job in capturing opportunities, driving a record book-to-bill in the fourth quarter and year-end backlog of $24 billion.
Last quarter marked the end of a three-year period with ADEPS growth of 96%, an increase that was primarily driven by strong organic revenue growth and sustained margin expansion.
At the top line, revenue increased 5.3% for the full-year to $7.9 billion.
Revenue, excluding billable expenses, grew 7.1% to $5.5 billion.
As a reminder, in January, we adjusted our revenue guidance to a range of 4.8% to 6%, due to three factors: first, programmatic shifts in the presidential transition period; second, a snap back to more typical PTO usage; and third, lower expectations for billable expenses as a percentage of revenue, which landed in the low-end of our 29% to 31% range.
Revenue growth for the full-year was led by our defense and civil businesses, which grew 9% and 8%, respectively.
Revenue from our intelligence business declined 3% for the full-year.
Lastly, revenue in global commercial, which accounted for approximately 3% of our total revenue in fiscal year 2021, declined 22% year-over-year.
Book to bill of 1.38 times was a fourth quarter record, resulting in a full-year book to bill of 1.42 times.
Total backlog grew 16%, yielding our largest-ever fiscal year-end backlog of $24 billion.
Funded backlog grew 3% to $3.5 billion.
Unfunded backlog grew 35% to $6.1 billion and priced options grew 13% to $14.4 billion.
Pivoting to headcount, as of March 31, we had 27,727 employees, up by 554 year-over-year, or 2%.
Excluding the impacts of our contract divestiture in the third quarter, headcount would have been up 2.4%.
Adjusted EBITDA for fiscal year 2021 was $840 million, up 11.4% from the previous year.
As a result, our adjusted EBITDA margin for the full-year was 10.7%.
Net income increased 26% year-over-year to $109 million.
Adjusted net income was $542 million, up 21% from the previous year.
Diluted earnings per share increased 28% to $4.37 from $3.41 the year prior.
And adjusted diluted earnings per share increased 23% to $3.90 from $3.18 the year prior.
As a result, we recognized approximately $77 million in remeasurement tax benefit this quarter, which we excluded from adjusted net income and adjusted diluted earnings per share.
We generated $719 million in operating cash during fiscal year 2021, representing 30% growth over the previous year.
That put us above the top end of our forecasted range and we ended the year with $991 million of cash on hand.
Capital expenditures for the year totaled $87 million, in line with our expectations as we continue to invest in infrastructure and technology to support virtual work.
We returned approximately $181 million to shareholders through quarterly dividends, which included a 19% year-over-year dividend increase in the fourth quarter.
We also repurchased 4.1 million shares for $318 million during the fiscal year, with 2.3 million shares repurchased for $185 million in the fourth quarter.
In combination with our third quarter investment in Tracepoint, we deployed a total of $571 million in capital in fiscal year 2021.
Today, we are also announcing that our Board has approved a regular dividend of $0.37 per share payable on June 30 to stockholders of record on June 15.
However, we do forecast approximately 50 basis points of revenue growth headwinds in each of our second and third quarters, recovered through a roughly 100 basis point tailwind in the fourth quarter.
We expect total revenue to grow between 7% and 10%, which is inclusive of a partial year contribution from our announced Liberty acquisition, assuming a first quarter 2022 close.
We expected adjusted EBITDA margin to remain in the mid-10% range.
We expect adjusted diluted earnings per share to be between $4.10 and $4.30.
This range reflects strong organic growth, incremental D&A expense related to our new financial system, a higher effective tax rate and $0.20 to $0.24 of anticipated accretion from our acquisition of Liberty IT.
We expect operating cash flow to be between $800 million and $850 million, largely driven by our operational performance, lower cash tax payments and contributions from Liberty IT.
And finally, we expect capex to be between $80 million and $100 million as we continue to invest in infrastructure and technology.

Summary:
We expect adjusted diluted earnings per share to be between $4.10 and $4.30.