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Segment Information (Tables)

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Summary of Business Segment Information

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

		Three Months Ended
		March 31, 2023				March 31, 2022
Federal Solutions revenue		$	634,546			$	491,629
Critical Infrastructure revenue			538,920				457,440
Total revenue		$	1,173,466			$	949,069

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
Adjusted EBITDA attributable to Parsons Corporation		March 31, 2023				March 31, 2022
Federal Solutions		$	56,148			$	42,638
Critical Infrastructure			24,357				28,315
Adjusted EBITDA attributable to Parsons Corporation			80,505				70,953
Adjusted EBITDA attributable to noncontrolling interests			9,886				3,295
Depreciation and amortization			(28,359	)			(30,509	)
Interest expense, net			(5,665	)			(3,873	)
Income tax expense			(11,503	)			(8,119	)
Equity-based compensation expense			(6,703	)			(3,898	)
Transaction-related costs (a)			(1,618	)			(2,398	)
Restructuring expense (b)			(546	)			(213	)
Other (c)			(721	)			(1,395	)
Net income including noncontrolling interests			35,276				23,843
Net income attributable to noncontrolling interests			9,723				3,176
Net income attributable to Parsons Corporation		$	25,553			$	20,667

(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
		March 31, 2023				March 31, 2022
Revenue
North America		$	948,715			$	785,708
Middle East			217,398				158,063
Rest of World			7,353				5,298
Total Revenue		$	1,173,466			$	949,069

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

		March 31, 2023				December 31, 2022
Property and Equipment, Net
North America		$	89,022			$	91,217
Middle East			5,737				4,833
Total Property and Equipment, Net		$	94,759			$	96,050

Summary of Revenues by Business Lines

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

		Three Months Ended
		March 31, 2023				March 31, 2022
Revenue
Defense and Intelligence		$	364,360			$	335,527
Engineered Systems			270,186				156,102
Federal Solutions revenues			634,546				491,629
Mobility Solutions			382,749				294,786
Connected Communities			156,171				162,654
Critical Infrastructure revenues			538,920				457,440
Total Revenue		$	1,173,466			$	949,069

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