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Segments Information - Summary of Adjusted EBITDA Business Segment Information (Details) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Jan. 01, 2024
Dec. 31, 2024
Mar. 31, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Adjusted EBITDA attributable to Parsons Corporation            
Revenue   $ 1,734,317 $ 1,535,676 $ 6,750,576 $ 5,442,749 $ 4,195,272
Direct cost of contracts       (5,344,154) (4,236,735) (3,248,550)
Selling, general and administrative expenses [1]       (304,186) (259,254) (228,227)
Equity in earnings (losses) of unconsolidated joint ventures       (23,361) (47,751) 16,347
Other segment items [2]       (530,636) (481,974) (412,453)
Adjusted EBITDA attributable to Parsons Corporation       548,239 417,035 322,389
Adjusted EBITDA attributable to noncontrolling interests       56,714 47,638 30,393
Depreciation and amortization       (99,251) (119,973) (120,501)
Interest expense, net       (40,154) (29,306) (22,219)
Income tax expense   (18,729) (13,324) (76,986) (56,138) (39,657)
Equity-based compensation expense       (61,492) (36,151) (24,354)
Convertible debt repurchase loss $ (18,400)   (18,355) (18,355) 0 0
Transaction-related costs [3]       (17,138) (12,013) (16,270)
Restructuring expense [4]         (1,244) (213)
Other [5]       (912) (1,933) (3,003)
Net income including noncontrolling interests       290,665 207,915 126,565
Net income attributable to noncontrolling interests       (55,612) (46,766) (29,901)
Net income attributable to Parsons Corporation   54,180 39,750 235,053 161,149 96,664
Federal Solution Segment            
Adjusted EBITDA attributable to Parsons Corporation            
Revenue   1,003,323 909,608 4,007,114 3,020,701 2,212,987
Direct cost of contracts       (3,187,829) (2,375,350) (1,703,297)
Selling, general and administrative expenses [1]       (157,442) (129,507) (117,759)
Equity in earnings (losses) of unconsolidated joint ventures       3,254 4,190 3,677
Other segment items [2]       (249,759) (230,784) (196,604)
Adjusted EBITDA attributable to Parsons Corporation       415,338 289,250 199,004
Critical Infrastructure            
Adjusted EBITDA attributable to Parsons Corporation            
Revenue   $ 730,994 $ 626,068 2,743,462 2,422,048 1,982,285
Direct cost of contracts       (2,156,325) (1,861,385) (1,545,253)
Selling, general and administrative expenses [1]       (146,744) (129,747) (110,468)
Equity in earnings (losses) of unconsolidated joint ventures       (26,615) (51,941) 12,670
Other segment items [2]       (280,877) (251,190) (215,849)
Adjusted EBITDA attributable to Parsons Corporation       132,901 127,785 123,385
Net income attributable to Parsons Corporation       $ (47,651) $ 26,261 $ 0
[1] The amount of selling, general and administrative expenses (“SG&A”) is total SG&A excluding allocations.
[2] The amount of other segment items is the difference between segment revenue less direct cost of contracts, segment SG&A expenses, equity in earnings (losses) of unconsolidated joint ventures, and Adjusted EBITDA attributable to Parsons Corporation. Other segment items primarily include:
i.
Corporate and shared segment SG&A (excluding Adjusted EBITDA items)
ii.
Noncontrolling interests attributable to operating income and other income/expense
iii.
Bad debt expense
iv.
Sublease income
v.
Foreign currency gain/loss, and
vi.
Certain other income/expense items
[3] Reflects costs incurred in connection with acquisitions, and other non-recurring transaction costs, primarily fees paid for professional services and employee retention.
[4] Reflects costs associated with and related to our corporate restructuring initiatives.
[5] 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.