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Segment Information (Tables)

6 Months Ended

Jun. 30, 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									Six Months Ended
		June 30, 2023				June 30, 2022					June 30, 2023				June 30, 2022
Federal Solutions revenue		$	762,797			$	537,556				$	1,397,343			$	1,029,185
Critical Infrastructure revenue			593,689				471,165					1,132,609				928,605
Total revenue		$	1,356,486			$	1,008,721				$	2,529,952			$	1,957,790

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									Six Months Ended
Adjusted EBITDA attributable to Parsons Corporation		June 30, 2023				June 30, 2022					June 30, 2023				June 30, 2022
Federal Solutions		$	85,640			$	47,645				$	141,788			$	90,283
Critical Infrastructure			20,936				25,160					45,293				53,475
Adjusted EBITDA attributable to Parsons Corporation			106,576				72,805					187,081				143,758
Adjusted EBITDA attributable to noncontrolling interests			11,730				4,609					21,616				7,904
Depreciation and amortization			(28,689	)			(30,581	)				(57,048	)			(61,090	)
Interest expense, net			(6,993	)			(4,354	)				(12,658	)			(8,227	)
Income tax expense			(15,223	)			(5,732	)				(26,726	)			(13,851	)
Equity-based compensation expense			(9,314	)			(4,791	)				(16,017	)			(8,689	)
Transaction-related costs (a)			(1,917	)			(9,525	)				(3,535	)			(11,923	)
Restructuring expense (b)			-				-					(546	)			(213	)
Other (c)			(1,399	)			349					(2,120	)			(1,046	)
Net income including noncontrolling interests			54,771				22,780					90,047				46,623
Net income attributable to noncontrolling interests			11,530				4,485					21,253				7,661
Net income attributable to Parsons Corporation		$	43,241			$	18,295				$	68,794			$	38,962

(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									Six Months Ended
		June 30, 2023				June 30, 2022					June 30, 2023				June 30, 2022
Revenue
North America		$	1,136,290			$	841,091				$	2,085,005			$	1,626,799
Middle East			219,253				161,335					436,651				319,398
Rest of World			943				6,295					8,296				11,593
Total Revenue		$	1,356,486			$	1,008,721				$	2,529,952			$	1,957,790

The geographic location of revenue is determined by the location of the customer (in thousands):

		June 30, 2023				December 31, 2022
Property and Equipment, Net
North America		$	88,813			$	91,217
Middle East			6,453				4,833
Total Property and Equipment, Net		$	95,266			$	96,050

Summary of Revenues by Business Lines

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

		Three Months Ended									Six Months Ended
		June 30, 2023				June 30, 2022					June 30, 2023				June 30, 2022
Revenue
Defense and Intelligence		$	381,328			$	350,298				$	745,688			$	685,825
Engineered Systems			381,469				187,258					651,655				343,360
Federal Solutions revenues			762,797				537,556					1,397,343				1,029,185
Mobility Solutions			396,794				300,382					779,543				595,168
Connected Communities			196,895				170,783					353,066				333,437
Critical Infrastructure revenues			593,689				471,165					1,132,609				928,605
Total Revenue		$	1,356,486			$	1,008,721				$	2,529,952			$	1,957,790

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