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Quarterly Information - Unaudited (Tables) | 12 Months Ended
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Dec. 31, 2024
Quarterly Financial Information Disclosure [Abstract] |
Schedule of Selected Quarterly Financial Information | The following table presents selected quarterly financial information (in thousands except per share data).
|  | Quarter Ended |
|  | March 31, 2024 |  |  | December 31, 2024 |
Federal Solutions revenue |  | $ | 909,608 |  |  | $ | 1,003,323 |
Critical Infrastructure revenue |  |  | 626,068 |  |  |  | 730,994 |
Total revenue |  |  | 1,535,676 |  |  |  | 1,734,317 |
Operating income |  |  | 101,844 |  |  |  | 99,812 |
Convertible debt repurchase loss (1) |  |  | (18,355 | ) |  |  | - |
Income tax expense (1) |  |  | (13,324 | ) |  |  | (18,729 | )
Net income attributable to Parsons Corporation (1) |  |  | 39,750 |  |  |  | 54,180 |
Earnings per share: |  |  |  |  |  |
Basic |  | $ | 0.37 |  |  | $ | 0.51 |
Diluted (2) |  | $ | 0.37 |  |  | $ | 0.49 |
1 Presents the revised quarterly financial data resulting from the adoption of Accounting Standards Update (“ASU”) 2024-04 as of January 1, 2024 on a prospective basis. As a result of the adoption of ASU 2024-04, the Company reversed a loss on extinguishment of debt for the partial repurchase of the Convertible Senior Notes due 2025 and recorded the repurchase transaction as an induced conversion. This change from extinguishment to inducement accounting resulted in the Company (i.) reversing the $211.0 million loss and the related $49.9 million tax benefit on extinguishment of debt, recorded in Q1 2024, (ii.) recording a $18.4 million convertible debt repurchase loss, (iii.) the difference between the extinguishment loss and inducement expense of $192.6 million recorded to equity, and (iv.) the related tax benefit of $45.6 million recorded to equity. See "Note 2—Summary of Significant Accounting Polices—New Accounting Pronouncements" for a further discussion of the first quarter 2024 extinguishment accounting and subsequent change to inducement accounting. 2 Diluted earnings per share prior to the adoption of ASU 2024-04 did not include certain adjustments as their inclusion would have been antidilutive. Subsequent to the adoption of ASU 2024-04 these adjustments are no longer antidilutive. Dilutive adjustments include if converted interest of $2.8 million, 1.5 million shares related to stock based awards and 6.8 million shares related to convertible senior notes. Inclusion of these dilution adjustments resulted in dilutive net income attributable to Parsons Corporation of $42.5 million and total diluted shares of 114.4 million for the quarter ended March 31, 2024.

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- Definition Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 270 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 + Details
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