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Quarterly Information - Unaudited (Tables) | 12 Months Ended
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Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract] |
Schedule of Selected Quarterly Financial Information | The following tables present selected quarterly financial information (in thousands except per share data).
|  | Fiscal Quarter Ended |
|  | March 30, 2018 |  |  | June 29, 2018(1) |  |  | September 28, 2018 |  |  | December 31, 2018 |  |  | March 31, 2019 |  |  | June 30, 2019 |  |  | September 30, 2019 |  |  | December 31, 2019 |
Federal Solutions revenue |  | $ | 291,335 |  |  | $ | 341,065 |  |  | $ | 443,725 |  |  | $ | 402,882 |  |  | $ | 422,812 |  |  | $ | 478,497 |  |  | $ | 486,175 |  |  | $ | 500,423 |
Critical Infrastructure revenue |  |  | 463,344 |  |  |  | 559,667 |  |  |  | 532,432 |  |  |  | 526,058 |  |  |  | 481,593 |  |  |  | 511,245 |  |  |  | 537,102 |  |  |  | 536,965 |
Total revenue |  |  | 754,679 |  |  |  | 900,732 |  |  |  | 976,157 |  |  |  | 928,940 |  |  |  | 904,405 |  |  |  | 989,742 |  |  |  | 1,023,277 |  |  |  | 1,037,388 |
Operating income |  |  | 38,891 |  |  |  | 86,912 |  |  |  | 55,113 |  |  |  | 24,092 |  |  |  | 23,046 |  |  |  | (8,706 | ) |  |  | 53,449 |  |  |  | 24,274 |
Net income attributable to Parsons Corporation |  |  | 25,287 |  |  |  | 148,381 |  |  |  | 41,222 |  |  |  | 7,447 |  |  |  | 9,741 |  |  |  | 40,259 |  |  |  | 56,812 |  |  |  | 13,722 |
Federal Solutions Adjusted EBITDA attributable to Parsons Corporation |  |  | 21,549 |  |  |  | 33,947 |  |  |  | 45,556 |  |  |  | 20,934 |  |  |  | 40,599 |  |  |  | 35,700 |  |  |  | 50,359 |  |  |  | 42,442 |
Critical Infrastructure Adjusted EBITDA attributable to Parsons Corporation |  |  | 25,361 |  |  |  | 16,929 |  |  |  | 38,006 |  |  |  | 26,555 |  |  |  | 27,676 |  |  |  | 40,525 |  |  |  | 33,976 |  |  |  | 36,674 |
Adjusted EBITDA attributable to noncontrolling interests |  |  | 3,920 |  |  |  | 1,759 |  |  |  | 5,002 |  |  |  | 6,726 |  |  |  | 3,749 |  |  |  | (20 | ) |  |  | 4,655 |  |  |  | 8,712 |
Total Adjusted EBITDA (2) |  | $ | 50,830 |  |  | $ | 52,635 |  |  | $ | 88,564 |  |  | $ | 54,215 |  |  | $ | 72,024 |  |  | $ | 76,205 |  |  | $ | 88,990 |  |  | $ | 87,828 |
Earnings per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.31 |  |  | $ | 1.83 |  |  | $ | 0.52 |  |  | $ | 0.10 |  |  | $ | 0.12 |  |  | $ | 0.44 |  |  | $ | 0.57 |  |  | $ | 0.14 |
Diluted |  | $ | 0.31 |  |  | $ | 1.83 |  |  | $ | 0.52 |  |  | $ | 0.10 |  |  | $ | 0.12 |  |  | $ | 0.44 |  |  | $ | 0.57 |  |  | $ | 0.14 |
(1) | Includes reversal of an accrued liability, with $55.1 million recorded to revenue and 74.6 million recorded to other income in our results of operations related to a lawsuit against a joint venture in which the Company is the managing partner. See “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in this Annual Report on Form 10-K for a description of this matter, which was resolved in favor of the Company on June 13, 2018.
(2) | The following table presents a reconciliation of net income attributable to Parsons Corporation to Adjusted EBITDA. For more information on our use of Adjusted EBITDA, how we use this metric, why we present this metric and the material limitations on usefulness of this metric, see “Note 21—Segments Information” in the “Other Information” table located in “Selected Consolidated Financial Data”.
|  | March 30, 2018 |  |  | June 29, 2018 |  |  | September 28, 2018 |  |  | December 31, 2018 |  |  | March 31, 2019 |  |  | June 30, 2019 |  |  | September 30, 2019 |  |  | December 31, 2019 |
Net income attributable to Parsons Corporation |  | $ | 25,287 |  |  | $ | 148,381 |  |  | $ | 41,222 |  |  | $ | 7,447 |  |  | $ | 9,741 |  |  | $ | 40,259 |  |  | $ | 56,812 |  |  | $ | 13,722 |
Interest expense, net |  |  | 3,258 |  |  |  | 3,270 |  |  |  | 5,589 |  |  |  | 6,015 |  |  |  | 7,815 |  |  |  | 6,151 |  |  |  | 4,482 |  |  |  | 3,981 |
Income tax expense (benefit) |  |  | 5,353 |  |  |  | 9,019 |  |  |  | 4,154 |  |  |  | 1,841 |  |  |  | 1,886 |  |  |  | (53,496 | ) |  |  | (15,453 | ) |  |  | (2,823 | )
Depreciation and amortization |  |  | 9,009 |  |  |  | 14,048 |  |  |  | 23,599 |  |  |  | 23,213 |  |  |  | 30,591 |  |  |  | 31,074 |  |  |  | 31,027 |  |  |  | 33,008 |
Net income attributable to noncontrolling interests |  |  | 3,815 |  |  |  | 1,657 |  |  |  | 4,844 |  |  |  | 6,783 |  |  |  | 3,645 |  |  |  | (114 | ) |  |  | 4,481 |  |  |  | 8,582 |
Litigation related expenses (a) |  |  | 2,330 |  |  |  | (132,004 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Amortization of deferred gain resulting from sale-leaseback transactions (b) |  |  | (1,813 | ) |  |  | (1,829 | ) |  |  | (1,798 | ) |  |  | (1,813 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Stock-based compensation (c) |  |  | 3,100 |  |  |  | 5,049 |  |  |  | 5,049 |  |  |  | 3,289 |  |  |  | 3,850 |  |  |  | 43,311 |  |  |  | (1,657 | ) |  |  | 20,240 |
Transaction related costs (d) |  |  | 125 |  |  |  | 4,930 |  |  |  | 2,456 |  |  |  | 5,431 |  |  |  | 9,355 |  |  |  | 7,715 |  |  |  | 9,891 |  |  |  | 7,392 |
Restructuring (e) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 2,218 |  |  |  | 353 |  |  |  | 309 |  |  |  | 544 |
Other (f) |  |  | 366 |  |  |  | 114 |  |  |  | 3,449 |  |  |  | 2,009 |  |  |  | 2,923 |  |  |  | 952 |  |  |  | (902 | ) |  |  | 3,182 |
Adjusted EBITDA |  | $ | 50,830 |  |  | $ | 52,635 |  |  | $ | 88,564 |  |  | $ | 54,215 |  |  | $ | 72,024 |  |  | $ | 76,205 |  |  | $ | 88,990 |  |  | $ | 87,828 |
(a) | Fiscal 2017 reflect the post-judgment interest expense recorded in “(Interest and other expenses associated with claim on long-term contract” in our results of operations related to a lawsuit against a joint venture in which the Company is the managing partner. In fiscal 2018, the Company reversed the accrued liability with an offset of $55.1 million to revenue and $74.6 million to other income. See “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in this Annual Report on Form 10-K for a description of this matter, which was resolved in favor of the Company on June 13, 2018
(b) | Reflects amortization of the deferred gain on prior sale-leaseback transactions in fiscal 2011. See “Note 10—Sale-Leasebacks” in the notes to our consolidated financial statements included elsewhere in this prospectus.
(c) | Reflects equity-based compensation costs primarily related to cash-settled awards. See “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in this Annual Report on Form 10-K for a further discussion of these awards.
(d) | Reflects costs incurred in connection with acquisitions and other non-recurring transaction costs, including primarily fees paid for professional services and employee retention.
(e) | Reflects costs associated with and related to our corporate restructuring initiatives.
(f) | Includes a combination of gain/loss related to sale of fixed assets, software implementation costs, and other individually insignificant items that are non-recurring in nature.

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