XML 65 R47.htm IDEA: XBRL DOCUMENT v3.22.4

Segments Information (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Summary of Business Segment Information

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

		2022				2021				2020
Revenues:
Federal Solutions		$	2,212,987			$	1,888,050			$	1,911,910
Critical Infrastructure			1,982,285				1,772,721				2,007,036
Total revenues		$	4,195,272			$	3,660,771			$	3,918,946

Summary of Adjusted EBITDA Business Segment Information

The following table summarizes business segment Adjusted EBITDA and a reconciliation to net income attributable to Parsons Corporation for the periods presented (in thousands):

		2022				2021				2020
Adjusted EBITDA attributable to Parsons Corporation
Federal Solutions		$	199,004			$	162,733			$	167,340
Critical Infrastructure			123,385				121,700				154,528
Adjusted EBITDA attributable to Parsons    Corporation			322,389				284,433				321,868
Adjusted EBITDA attributable to noncontrolling    interests			30,393				25,287				20,753
Depreciation and amortization			(120,501	)			(144,209	)			(127,980	)
Interest expense, net			(22,219	)			(17,301	)			(20,169	)
Income tax (expense) benefit			(39,657	)			(23,636	)			(42,492	)
Equity-based compensation			(24,354	)			(19,601	)			(9,785	)
Transaction-related costs (a)			(16,270	)			(11,965	)			(19,922	)
Restructuring (b)			(213	)			(736	)			(2,193	)
Other (c)			(3,003	)			(3,320	)			(1,159	)
Net income including noncontrolling    interests		$	126,565			$	88,952			$	118,921
Net income attributable to noncontrolling interests			(29,901	)			(24,880	)			(20,380	)
Net income attributable to Parsons    Corporation		$	96,664			$	64,072			$	98,541

(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 and related to our 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 table presents revenues and property and equipment, net by geographic area (in thousands):

		2022				2021				2020
Revenues:
North America		$	3,463,128			$	3,028,760			$	3,215,874
Middle East			710,830				610,655				684,353
Rest of World			21,314				21,356				18,719
Total revenues		$	4,195,272			$	3,660,771			$	3,918,946
Property and equipment, net
North America		$	91,217			$	100,674			$	116,460
Middle East			4,833				3,522				4,567
Total property and equipment, net		$	96,050			$	104,196			$	121,027

Summary of Revenues by Business Lines

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

		2022				2021				2020
Revenue:
Defense & Intelligence		$	1,368,779			$	1,269,030			$	1,205,152
Engineered Systems			844,208				619,020				706,758
Federal Solutions revenues			2,212,987				1,888,050				1,911,910
Mobility Solutions			1,291,088				1,164,718				1,280,535
Connected Communities			691,197				608,003				726,501
Critical Infrastructure revenues			1,982,285				1,772,721				2,007,036
Total revenues		$	4,195,272			$	3,660,771			$	3,918,946

X

- Definition

Summary of revenues and property and equipment, net by geographic area.

+ References

No definition available.

+ Details

Name:	psn_SummaryOfRevenuesAndPropertyAndEquipmentNetByGeographicAreaTableTextBlock
Namespace Prefix:	psn_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

+ Details

Name:	us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

+ Details

Name:	us-gaap_ScheduleOfEntityWideInformationRevenueFromExternalCustomersByProductsAndServicesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8813-108599

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

+ Details

Name:	us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration