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, 2024			June 30, 2023			June 30, 2024			June 30, 2023
Federal Solutions	$	102,781		$	85,640		$	195,322		$	141,788
Critical Infrastructure		35,612			20,936			68,575			45,293
Adjusted EBITDA attributable to Parsons Corporation		138,393			106,576			263,897			187,081
Adjusted EBITDA attributable to noncontrolling interests		11,837			11,730			27,426			21,616
Depreciation and amortization		(24,440	)		(28,689	)		(48,971	)		(57,048	)
Interest expense, net		(9,183	)		(6,993	)		(21,029	)		(12,658	)
Income tax benefit (expense)		(22,415	)		(15,223	)		9,819			(26,726	)
Equity-based compensation expense		(10,647	)		(9,314	)		(23,303	)		(16,017	)
Loss on extinguishment of debt		-			-			(211,018	)		-
Transaction-related costs (a)		(2,302	)		(1,917	)		(5,188	)		(3,535	)
Restructuring expense (b)		-			-			-			(546	)
Other (c)		(524	)		(1,399	)		(3,026	)		(2,120	)
Net (loss) income including noncontrolling interests		80,719			54,771			(11,393	)		90,047
Net income attributable to noncontrolling interests		11,547			11,530			26,790			21,253
Net (loss) income attributable to Parsons Corporation	$	69,172		$	43,241		$	(38,183	)	$	68,794

(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 by Business Lines

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


	Three Months Ended				Six Months Ended
	June 30, 2024		June 30, 2023		June 30, 2024		June 30, 2023
Revenue
Defense and Intelligence	$	420,396	$	381,328	$	828,784	$	745,688
Engineered Systems		568,207		381,469		1,069,427		651,655
Federal Solutions revenues		988,603		762,797		1,898,211		1,397,343
Infrastructure – North America		434,163		373,153		799,445		692,712
Infrastructure – Europe, Middle East and Africa		247,701		220,536		508,487		439,897
Critical Infrastructure revenues		681,864		593,689		1,307,932		1,132,609
Total Revenue	$	1,670,467	$	1,356,486	$	3,206,143	$	2,529,952

Effective October 1, 2023, the Company reorganized its Critical Infrastructure business units from Mobility Solutions and Connected Communities to Infrastructure – North America and Infrastructure – Europe, Middle East and Africa. The prior year information in the table above has been reclassified to conform to the business unit changes.