Segment Information (Tables)

6 Months Ended

Jun. 30, 2022

The following table summarizes business segment revenue for the periods presented (in thousands):

	Three Months Ended				Six Months Ended
	June 30, 2022		June 30, 2021		June 30, 2022		June 30, 2021
Federal Solutions revenue	$	537,556	$	442,675	$	1,029,185	$	894,744
Critical Infrastructure revenue		471,165		436,681		928,605		859,309
Total revenue	$	1,008,721	$	879,356	$	1,957,790	$	1,754,053

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, 2022			June 30, 2021			June 30, 2022			June 30, 2021
Federal Solutions	$	47,645		$	32,500		$	90,283		$	64,482
Critical Infrastructure		25,160			27,817			53,475			59,474
Adjusted EBITDA attributable to Parsons Corporation		72,805			60,317			143,758			123,956
Adjusted EBITDA attributable to noncontrolling interests		4,609			5,410			7,904			10,470
Depreciation and amortization		(30,581	)		(34,635	)		(61,090	)		(69,308	)
Interest expense, net		(4,354	)		(4,758	)		(8,227	)		(9,201	)
Income tax expense		(5,732	)		(3,838	)		(13,851	)		(9,213	)
Equity-based compensation expense		(4,791	)		(4,921	)		(8,689	)		(11,901	)
Transaction-related costs (a)		(9,525	)		(4,086	)		(11,923	)		(6,732	)
Restructuring expense (b)		-			(73	)		(213	)		(150	)
Other (c)		349			(1,389	)		(1,046	)		(1,880	)
Net income including noncontrolling interests		22,780			12,027			46,623			26,041
Net income attributable to noncontrolling interests		4,485			5,325			7,661			10,300
Net income attributable to Parsons Corporation	$	18,295		$	6,702		$	38,962		$	15,741

(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 and Property and Equipment, Net by Geographic Area

The following tables present revenues and property and equipment, net by geographic area (in thousands):

	Three Months Ended				Six Months Ended
	June 30, 2022		June 30, 2021		June 30, 2022		June 30, 2021
Revenue
North America	$	841,091	$	725,047	$	1,626,799	$	1,441,393
Middle East		161,335		147,675		319,398		301,318
Rest of World		6,295		6,634		11,593		11,342
Total Revenue	$	1,008,721	$	879,356	$	1,957,790	$	1,754,053

The geographic location of revenue is determined by the location of the customer.

	June 30, 2022		December 31, 2021
Property and Equipment, Net
North America	$	95,446	$	100,674
Middle East		3,045		3,522
Total Property and Equipment, Net	$	98,491	$	104,196

Summary of Revenues by Business Lines

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

	Three Months Ended				Six Months Ended
	June 30, 2022		June 30, 2021		June 30, 2022		June 30, 2021
Revenue
Defense and Intelligence	$	350,298	$	297,447	$	685,825	$	596,964
Engineered Systems		187,258		145,228		343,360		297,780
Federal Solutions revenues		537,556		442,675		1,029,185		894,744
Mobility Solutions		300,382		295,825		595,168		577,421
Connected Communities		170,783		140,856		333,437		281,888
Critical Infrastructure revenues		471,165		436,681		928,605		859,309
Total Revenue	$	1,008,721	$	879,356	$	1,957,790	$	1,754,053