Consolidated Variable Interest Entities

12 Months Ended

Dec. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

The Company is the majority shareholder and primary beneficiary of PAE (New Zealand) Limited, ATOM Training Limited, PAE-Perini LLC, Syncom Space Services LLC, PAE-SGT Partners LLC, PAE-Parsons Global Logistics Services, LLC and accordingly, these entities are consolidated. As the primary beneficiary, the Company has a risk and obligation to absorb any losses significant to the VIE and the power, through voting rights or similar rights, to direct the activities that could impact economic performance of the VIE. The use of the assets of the VIEs to settle the Company’s liabilities is subject to the approval of the managing body of each VIE.

The cash flows generated by these VIEs are included within the Company’s consolidated statements of cash flows. The consolidated balance sheets include the following amounts from these consolidated VIEs as of the dates presented (in thousands):


	December 31,		December 31,
	2020		2019
Assets
Total assets	$	145,664	$	127,742

Liabilities and equity
Total liabilities	$	96,318	$	80,151
Total equity	49,346		47,591
Total liabilities and equity	$	145,664	$	127,742

The consolidated statements of operations include the following amounts from consolidated VIEs for the periods presented (in thousands):


	Year Ended
		December 31,		December 31,		December 31,
		2020		2019		2018
Income statements
Revenues		$	369,966	$	340,063	$	259,386
Cost of revenues		301,345		311,310		205,730
Selling, general and administrative expenses		73,400		80,942		84,473
Total operating expenses		374,745		392,252		290,203
Program loss		(4,779)		(52,189)		(30,817)
Other income (loss), net		908		(1,697)		(1,093)
Net loss		$	(3,871)	$	(53,886)	$	(31,910)