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.