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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents (including $78,952 and $202,120 Cash of consolidated joint ventures) $ 269,745 $ 453,548
Accounts receivable, net (including $342,214 and $251,676 Accounts receivable of consolidated joint ventures) 1,124,951 1,100,396
Contract assets (including $8,229 and $7,906 Contract assets of consolidated joint ventures) 822,781 741,504
Prepaid expenses and other current assets (including $15,697 and $14,722 Prepaid expenses and other current assets of consolidated joint ventures) 183,694 166,952
Total current assets 2,401,171 2,462,400
Property and Equipment, net (including $2,489 and $2,970 Property and equipment of consolidated joint ventures) 121,753 111,575
Right of use assets, operating leases (including $5,050 and $5,726 Right of use assets, operating leases of consolidated joint ventures) 148,715 153,048
Goodwill 2,107,072 2,082,680
Investments in and advances to unconsolidated joint ventures 142,248 138,759
Intangible assets, net 339,655 349,937
Deferred tax assets 131,963 133,450
Other noncurrent assets 56,567 56,113
Total assets 5,449,144 5,487,962
Current liabilities:    
Accounts payable (including $52,267 and $28,214 Accounts payable of consolidated joint ventures) 288,519 207,589
Accrued expenses and other current liabilities (including $196,814 and $198,797 Accrued expenses and other current liabilities of consolidated joint ventures) 783,686 894,425
Contract liabilities (including $68,462 and $66,144 Contract liabilities of consolidated joint ventures) 297,511 289,799
Short-term lease liabilities, operating leases (including $3,104 and $3,522 Short-term lease liabilities, operating leases of consolidated joint ventures) 53,137 52,725
Income taxes payable 7,692 7,701
Short Term Debt 434,925 463,405
Total current liabilities 1,865,470 1,915,644
Long-term employee incentives 26,479 31,818
Long-term debt 785,198 784,096
Long-term lease liabilities, operating leases (including $1,944 and $2,203 Long-term lease liabilities, operating leases of consolidated joint ventures) 108,336 114,386
Deferred tax liabilities 11,229 11,043
Other long-term liabilities 106,700 96,486
Total liabilities 2,903,412 2,953,473
Contingencies (Note 12)
Shareholders' equity:    
Common stock, $1 par value; authorized 1,000,000,000 shares; 146,443 and 146,341 shares issued; 0 public shares outstanding; 16,173 ESOP shares outstanding 146,704 146,655
Treasury stock, 40,501,385 shares at cost (815,282) (815,282)
Additional paid-in capital 2,660,487 2,684,829
Retained earnings 487,625 426,781
Accumulated other comprehensive loss (25,740) (26,594)
Total Parsons Corporation shareholders' equity 2,453,794 2,416,389
Noncontrolling interests 91,938 118,100
Total shareholders' equity 2,545,732 2,534,489
Total liabilities and shareholders' equity $ 5,449,144 $ 5,487,962