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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents (including $84,810 and $128,761 Cash of consolidated joint ventures) $ 423,120 $ 272,943
Accounts receivable, net (including $332,308 and $274,846 Accounts receivable of consolidated joint ventures, net) 1,023,463 915,638
Contract assets (including $8,521 and $11,096 Contract assets of consolidated joint ventures) 768,007 757,515
Prepaid expenses and other current assets (including $15,808 and $11,929 Prepaid expenses and other current assets of consolidated joint ventures) 212,664 191,430
Total current assets 2,427,254 2,137,526
Property and equipment, net (including $3,565 and $3,274 Property and equipment of consolidated joint ventures, net) 98,499 98,957
Right of use assets, operating leases (including $8,656 and $9,885 Right of use assets, operating leases of consolidated joint ventures) 145,803 159,211
Goodwill 1,791,443 1,792,665
Investments in and advances to unconsolidated joint ventures 145,043 128,204
Intangible assets, net 261,856 275,566
Deferred tax assets 157,547 140,162
Other noncurrent assets 70,998 71,770
Total assets 5,098,443 4,804,061
Current liabilities:    
Accounts payable (including $33,339 and $49,234 Accounts payable of consolidated joint ventures) 274,140 242,821
Accrued expenses and other current liabilities (including $165,434 and $145,040 Accrued expenses and other current liabilities of consolidated joint ventures) 739,211 801,423
Contract liabilities (including $60,374 and $61,234 Contract liabilities of consolidated joint ventures) 282,962 301,107
Short-term lease liabilities, operating leases (including $4,445 and $4,753 Short-term lease liabilities, operating leases of consolidated joint ventures) 55,024 58,556
Income taxes payable 2,366 6,977
Total current liabilities 1,353,703 1,410,884
Long-term employee incentives 24,447 22,924
Long-term debt 1,246,443 745,963
Long-term lease liabilities, operating leases (including $4,211 and $5,132 Long-term lease liabilities, operating leases of consolidated joint ventures) 106,692 117,505
Deferred tax liabilities 9,763 9,775
Other long-term liabilities 114,238 120,295
Total liabilities 2,855,286 2,427,346
Contingencies (Note 12)
Shareholders' equity:    
Common stock, $1 par value; authorized 1,000,000,000 shares; 146,717,387 and 146,341,363 shares issued; 48,205,185 and 45,960,122 public shares outstanding; 57,998,295 and 59,879,857 ESOP shares outstanding 146,717 146,341
Treasury stock, 40,501,385 shares at cost (827,311) (827,311)
Additional paid-in capital 2,759,867 2,779,365
Retained earnings 87,261 203,724
Accumulated other comprehensive loss (16,866) (14,908)
Total Parsons Corporation shareholders' equity 2,149,668 2,287,211
Noncontrolling interests 93,489 89,504
Total shareholders' equity 2,243,157 2,376,715
Total liabilities and shareholders' equity $ 5,098,443 $ 4,804,061