Parsons Corporation (PSN) Financial Statements (2024 and earlier)

Company Profile

Business Address 5875 TRINITY PKWY #300
CENTREVILLE, VA 20120
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 7373 - Computer Integrated Systems Design (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments263343484183
Cash and cash equivalents263343484183
Restricted cash and investments  1413
Receivables717598699671
Contract with customer, asset, after allowance for credit loss634579577575
Other undisclosed current assets1061118184
Total current assets:1,7201,6321,8431,526
Noncurrent Assets
Operating lease, right-of-use asset155183210233
Property, plant and equipment96104121123
Long-term investments and receivables1071116969
Long-term investments1071116969
Intangible assets, net (including goodwill)1,9161,6211,5081,307
Goodwill1,6621,4131,2621,047
Intangible assets, net (excluding goodwill)254208246260
Deferred income tax assets138134130130
Other noncurrent assets66465661
Total noncurrent assets:2,4782,1992,0951,924
TOTAL ASSETS:4,1983,8313,9383,450
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities689675717646
Taxes payable857
Employee-related liabilities355366306
Accounts payable201196226217
Accrued liabilities487116120116
Deferred revenue213172202231
Debt 225151
Liability for uncertainty in income taxes    
Other undisclosed current liabilities205182217217
Total current liabilities:1,1081,0311,1871,144
Noncurrent Liabilities
Long-term debt and lease obligation744741722204
Long-term debt, excluding current maturities744592540 
Liabilities, other than long-term debt233106145135
Deferred income tax liabilities12111210
Other liabilities10995132126
Operating lease, liability111149182204
Other undisclosed noncurrent liabilities171622306
Total noncurrent liabilities:994863889645
Total liabilities:2,1021,8942,0761,790
Equity
Equity, attributable to parent2,0441,9011,8141,630
Common stock146146147146
Treasury stock, value(845)(867)(899)(934)
Additional paid in capital2,7172,6852,7012,650
Accumulated other comprehensive loss(18)(10)(14)(14)
Retained earnings (accumulated deficit)43(54)(121)(218)
Equity, attributable to noncontrolling interest52364831
Total equity:2,0961,9371,8611,661
TOTAL LIABILITIES AND EQUITY:4,1983,8313,9383,450

Income Statement (P&L) ($ in millions)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
Revenues4,1953,6613,9193,955
Cost of revenue
(Cost of Goods and Services Sold)
(3,249)(2,808)(3,042)(3,123)
Gross profit:947853877832
Operating expenses(777)(757)(729)(781)
Other undisclosed operating income16373042
Operating income:18613217892
Nonoperating income (expense)4(2)5(1)
Investment income, nonoperating1011
Other nonoperating income (expense)3(3)4(2)
Interest and debt expense(23)(18)(21)(24)
Income from continuing operations before income taxes:16611316167
Income tax expense (benefit)(40)(24)(42)70
Income from continuing operations:12789119137
Income before gain (loss) on sale of properties:89119137
Net income:12789119137
Net loss attributable to noncontrolling interest(30)(25)(20)(17)
Net income available to common stockholders, basic:976499121
Dilutive securities, effect on basic earnings per share22  
Net income available to common stockholders, diluted:996699121

Comprehensive Income ($ in millions)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
Net income:12789119137
Other undisclosed comprehensive income (loss)(8)409
Comprehensive income:11893119146
Comprehensive loss, net of tax, attributable to noncontrolling interest(30)(25)(20)(17)
Comprehensive income, net of tax, attributable to parent:886899129

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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