XML 41 R28.htm IDEA: XBRL DOCUMENT
v3.22.1

Acquisitions (Tables) - BlackHorse Solutions, Inc. | 3 Months Ended
--- | ---
Mar. 31, 2022
Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed on Preliminary Purchase Price Allocation | The following table summarizes the estimated fair values of the assets acquired and liabilities assumed based on the purchase price allocation as of the date of acquisition (in thousands):
|  | Amount |
Cash and cash equivalents |  | $ | 15,428 |
Accounts receivable |  |  | 3,351 |
Contract assets |  |  | 5,979 |
Prepaid expenses and other current assets |  |  | 937 |
Property and equipment |  |  | 2,239 |
Right of use assets, operating leases |  |  | 6,157 |
Goodwill |  |  | 143,086 |
Intangible assets |  |  | 65,000 |
Accounts payable |  |  | (2,326 | )
Accrued expenses and other current liabilities |  |  | (17,190 | )
Contract liabilities |  |  | (320 | )
Short-term lease liabilities, operating leases |  |  | (1,011 | )
Long-term lease liabilities, operating leases |  |  | (5,146 | )
Deferred tax liabilities |  |  | (10,916 | )
Other long-term liabilities |  |  | (235 | )
Net assets acquired |  | $ | 205,033 |
Schedule of Intangible Assets Value on Purchase Price | Of the total purchase price, the following values were assigned to intangible assets (in thousands, except for years):
|  | Gross Carrying Amount |  |  | Amortization Period
|  |  |  |  |  | (in years)
Customer relationships |  | $ | 39,000 |  |  | 16
Backlog |  |  | 23,000 |  |  | 3
Trade name |  |  | 1,000 |  |  | 2
Developed technologies |  |  | 1,000 |  |  | 3
Non-compete agreements |  |  | 1,000 |  |  | 3
Schedule of Supplemental Pro Forma Information | Supplemental information of unaudited pro forma operating results assuming the BlackHorse acquisition had been consummated as of the beginning of fiscal year 2020 (in thousands) is as follows:
|  | Three Months Ended |
|  | March 31, 2022 |  |  | March 31, 2021 |
Pro forma Revenue |  | $ | 949,069 |  |  | $ | 891,402 |
Pro forma Net Income including noncontrolling interests |  |  | 25,882 |  |  |  | 13,508 |

X
- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
Name: | us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
Name: | us-gaap_ScheduleOfFiniteLivedIntangibleAssetsAcquiredAsPartOfBusinessCombinationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=123413009&loc=d3e4845-128472 + Details
Name: | us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_BusinessAcquisitionAxis=psn_BlackHorseSolutionsIncMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |