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Segment Information (Tables)

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

Summary of Business Segment Information

The following table summarizes business segment revenue for the periods presented (in thousands):

		Three Months Ended									Nine Months Ended
		September 30, 2021				September 30, 2020					September 30, 2021				September 30, 2020
Federal Solutions revenue		$	499,291			$	498,156				$	1,394,035			$	1,457,937
Critical Infrastructure revenue			456,759				506,080					1,316,068				1,496,751
Total revenue		$	956,050			$	1,004,236				$	2,710,103			$	2,954,688

Summary of Adjusted EBITDA Business Segment Information

The following table reconciles business segment Adjusted EBITDA attributable to Parsons Corporation to Net Income attributable to Parsons Corporation for the periods presented (in thousands):

		Three Months Ended									Nine Months Ended
Adjusted EBITDA attributable to Parsons Corporation		September 30, 2021				September 30, 2020					September 30, 2021				September 30, 2020
Federal Solutions		$	46,481			$	45,874				$	110,963			$	125,191
Critical Infrastructure			30,371				48,856					89,845				111,732
Adjusted EBITDA attributable to Parsons Corporation			76,852				94,730					200,808				236,923
Adjusted EBITDA attributable to noncontrolling interests			7,540				6,071					18,010				15,535
Depreciation and amortization			(37,232	)			(30,952	)				(106,540	)			(95,442	)
Interest expense, net			(3,987	)			(5,387	)				(13,188	)			(13,144	)
Income tax expense			(9,165	)			(16,017	)				(18,378	)			(32,992	)
Equity-based compensation expense			(3,224	)			991					(15,125	)			(4,142	)
Transaction-related costs (a)			(2,537	)			(2,411	)				(9,269	)			(11,937	)
Restructuring expense (b)			(357	)			(365	)				(507	)			(1,475	)
Other (c)			(1,121	)			(140	)				(3,001	)			(1,310	)
Net income including noncontrolling interests			26,769				46,520					52,810				92,016
Net income attributable to noncontrolling interests			7,411				5,862					17,711				15,086
Net income attributable to Parsons Corporation		$	19,358			$	40,658				$	35,099			$	76,930

(a) Reflects costs incurred in connection with acquisitions and other non-recurring transaction costs, primarily fees paid for professional services and employee retention.

(b) Reflects costs associated with corporate restructuring initiatives.

(c) 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.

Summary of Revenues and Property and Equipment, Net by Geographic Area

The following tables present revenues and property and equipment, net by geographic area (in thousands):

		Three Months Ended									Nine Months Ended
		September 30, 2021				September 30, 2020					September 30, 2021				September 30, 2020
Revenue
North America		$	804,122			$	831,367				$	2,245,515			$	2,429,357
Middle East			147,207				168,043					448,525				511,591
Rest of World			4,721				4,826					16,063				13,740
Total Revenue		$	956,050			$	1,004,236				$	2,710,103			$	2,954,688

The geographic location of revenue is determined by the location of the customer.

		September 30, 2021				December 31, 2020
Property and Equipment, Net
North America		$	102,352			$	116,460
Middle East			3,543				4,567
Total Property and Equipment, Net		$	105,895			$	121,027

Summary of Revenues by Business Lines

The following table presents revenues by business units (in thousands):

		Three Months Ended									Nine Months Ended
		September 30, 2021				September 30, 2020					September 30, 2021				September 30, 2020
Revenue
Defense and Intelligence		$	343,151			$	333,289				$	962,642			$	953,755
Engineered Systems			156,140				164,867					431,393				504,182
Federal Solutions revenues			499,291				498,156					1,394,035				1,457,937
Connected Communities			91,902				116,366					263,106				316,626
Mobility Solutions			364,857				389,714					1,052,962				1,180,125
Critical Infrastructure revenues			456,759				506,080					1,316,068				1,496,751
Total Revenue		$	956,050			$	1,004,236				$	2,710,103			$	2,954,688

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