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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents (including $52,324 and $75,220 Cash of consolidated joint ventures) $ 398,178 $ 483,609
Restricted cash and investments 1,233 3,606
Accounts receivable, net (including $215,641 and $190,643 Accounts receivable of consolidated joint ventures, net) 693,584 698,578
Contract assets (including $24,539 and $23,498 Contract assets of consolidated joint ventures) 607,676 576,568
Prepaid expenses and other current assets (including $7,260 and $3,045 Prepaid expenses and other current assets of consolidated joint ventures) 101,536 80,769
Total current assets 1,802,207 1,843,130
Property and equipment, net (including $2,528 and $2,629 Property and equipment of consolidated joint ventures, net) 115,544 121,027
Right of use assets, operating leases 204,189 210,398
Goodwill 1,261,189 1,261,978
Investments in and advances to unconsolidated joint ventures 76,017 68,975
Intangible assets, net 222,451 245,958
Deferred tax assets 143,022 130,200
Other noncurrent assets 40,382 56,038
Total assets 3,865,001 3,937,704
Current liabilities:    
Accounts payable (including $101,593 and $97,810 Accounts payable of consolidated joint ventures) 219,220 225,679
Accrued expenses and other current liabilities (including $75,606 and $68,801 Accrued expenses and other current liabilities of consolidated joint ventures) 595,058 650,753
Contract liabilities (including $35,744 and $33,922 Contract liabilities of consolidated joint ventures) 186,028 201,864
Short-term lease liabilities, operating leases 54,113 54,133
Income taxes payable 6,248 4,980
Short-term debt 50,000 50,000
Total current liabilities 1,110,667 1,187,409
Long-term employee incentives 21,218 21,828
Long-term debt 590,346 539,998
Long-term lease liabilities, operating leases 175,584 182,467
Deferred tax liabilities 13,146 12,285
Other long-term liabilities 113,598 132,300
Total liabilities 2,024,559 2,076,287
Contingencies (Note 12)
Shareholders' equity:    
Common stock, $1 par value; authorized 1,000,000,000 shares; 146,609,288 and 146,609,288 shares issued; 26,845,697 and 25,719,350 public shares outstanding; 75,560,749 and 76,641,312 ESOP shares outstanding 146,654 146,609
Treasury stock, 44,248,626 shares at cost (899,328) (899,328)
Additional paid-in capital 2,667,130 2,700,925
Accumulated deficit (108,720) (120,569)
Accumulated other comprehensive loss (8,937) (13,865)
Total Parsons Corporation shareholders' equity 1,796,799 1,813,772
Noncontrolling interests 43,643 47,645
Total shareholders' equity 1,840,442 1,861,417
Total liabilities and shareholders' equity $ 3,865,001 $ 3,937,704