0001564590-22-006026 | 10-K | XBRL Viewer

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Carrying

Amount

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Period

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Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents (including $78,514 and $75,220 Cash of consolidated joint ventures)	$ 342,608	$ 483,609
Restricted cash and investments	1,275	3,606
Accounts receivable, net (including $140,266 and $190,643 Accounts receivable of consolidated joint ventures, net)	598,311	698,578
Contract assets (including $8,779 and $23,498 Contract assets of consolidated joint ventures)	579,216	576,568
Prepaid expenses and other current assets (including $18,783 and $3,045 Prepaid expenses and other current assets of consolidated joint ventures)	110,941	80,769
Total current assets	1,632,351	1,843,130
Property and equipment, net (including $1,721 and $2,629 Property and equipment of consolidated joint ventures, net)	104,196	121,027
Right of use assets, operating leases	182,672	210,398
Goodwill	1,412,690	1,261,978
Investments in and advances to unconsolidated joint ventures	110,688	68,975
Intangible assets, net	207,821	245,958
Deferred tax assets	134,393	130,200
Other noncurrent assets	46,129	56,038
Total assets	3,830,940	3,937,704
Current liabilities:
Accounts payable (including $78,558 and $97,810 Accounts payable of consolidated joint ventures)	196,286	225,679
Accrued expenses and other current liabilities (including $82,746 and $68,801 Accrued expenses and other current liabilities of consolidated joint ventures)	599,089	650,753
Contract liabilities (including $14,333 and $33,922 Contract liabilities of consolidated joint ventures)	171,671	201,864
Short-term lease liabilities, operating leases	55,902	54,133
Income taxes payable	7,836	4,980
Short-term debt	0	50,000
Total current liabilities	1,030,784	1,187,409
Long-term employee incentives	15,997	21,828
Long-term debt	591,922	539,998
Long-term lease liabilities, operating leases	148,893	182,467
Deferred tax liabilities	11,400	12,285
Other long-term liabilities	94,832	132,300
Total liabilities	1,893,828	2,076,287
Contingencies (Note 15)
Shareholders' equity:
Common stock, $1 par value; authorized 1,000,000,000 shares; 146,276,880 and 146,609,288 shares issued; 33,331,494 and 25,719,350 public shares outstanding; 70,328,237 and 76,641,312 ESOP shares outstanding	146,277	146,609
Treasury stock, 42,617,149 shares at cost	(867,391)	(899,328)
Additional paid-in capital	2,684,979	2,700,925
Accumulated deficit	(53,529)	(120,569)
Accumulated other comprehensive loss	(9,568)	(13,865)
Total Parsons Corporation shareholders' equity	1,900,768	1,813,772
Noncontrolling interests	36,344	47,645
Total shareholders' equity	1,937,112	1,861,417
Total liabilities and shareholders' equity	$ 3,830,940	$ 3,937,704

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Cash and cash equivalents	$ 342,608	$ 483,609
Accounts receivable, net	598,311	698,578
Contract assets	579,216	576,568
Prepaid expenses and other current assets	110,941	80,769
Property and equipment, net	104,196	121,027
Accounts payable	196,286	225,679
Accrued expenses and other current liabilities	599,089	650,753
Contract liabilities	$ 171,671	$ 201,864
Common stock, par value	$ 1	$ 1
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares, issued	146,276,880	146,609,288
Common stock, shares, outstanding	33,331,494	25,719,350
Treasury stock, shares	42,617,149	42,617,149
ESOP
Common stock, shares, outstanding	70,328,237	76,641,312
Consolidated Joint Ventures
Cash and cash equivalents	$ 78,514	$ 75,220
Accounts receivable, net	140,266	190,643
Contract assets	8,779	23,498
Prepaid expenses and other current assets	18,783	3,045
Property and equipment, net	1,721	2,629
Accounts payable	78,558	97,810
Accrued expenses and other current liabilities	82,746	68,801
Contract liabilities	$ 14,333	$ 33,922

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Statement [Abstract]
Revenue	$ 3,660,771	$ 3,918,946	$ 3,954,812
Direct cost of contracts	2,807,950	3,042,087	3,123,062
Equity in earnings of unconsolidated joint ventures	36,862	30,059	41,721
Selling, general and administrative expenses	757,237	729,103	781,408
Operating income	132,446	177,815	92,063
Interest income	396	787	1,300
Interest expense	(17,697)	(20,956)	(23,729)
Other income (expense), net	(2,557)	3,767	(2,392)
Total other (expense) income	(19,858)	(16,402)	(24,821)
Income before income tax expense	112,588	161,413	67,242
Income tax (expense) benefit	(23,636)	(42,492)	69,886
Net income including noncontrolling interests	88,952	118,921	137,128
Net income attributable to noncontrolling interests	(24,880)	(20,380)	(16,594)
Net income attributable to Parsons Corporation	$ 64,072	$ 98,541	$ 120,534
Earnings per share:
Basic earnings per share	$ 0.62	$ 0.98	$ 1.30
Diluted earnings per share	$ 0.59	$ 0.97	$ 1.30

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement Of Income And Comprehensive Income [Abstract]
Net income including noncontrolling interests	$ 88,952	$ 118,921	$ 137,128
Other comprehensive income (loss), net of tax
Foreign currency translation adjustment, net of tax	3,834	484	8,418
Pension adjustments, net of tax	460	(88)	281
Comprehensive income including noncontrolling interests, net of tax	93,246	119,317	145,827
Comprehensive income attributable to noncontrolling interests, net of tax	(24,877)	(20,380)	(16,597)
Comprehensive income attributable to Parsons Corporation, net of tax	$ 68,369	$ 98,937	$ 129,230

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.

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- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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+ Details

Consolidated Statements of Changes in Redeemable Common Stock and Shareholders' Equity (Deficit) - USD ($) $ in Thousands	Total	IPO	Revision of Prior Period, Accounting Standards Update, Adjustment	Redeemable Common Stock	Common Stock	Common Stock IPO	Treasury Stock	Accumulated Deficit	Accumulated Deficit Revision of Prior Period, Accounting Standards Update, Adjustment	Additional Paid-in Capital	Additional Paid-in Capital IPO	Additional Paid-in Capital Revision of Prior Period, Accounting Standards Update, Adjustment	Accumulated Other Comprehensive (Loss) Income	Total Parsons Equity (Deficit)	Total Parsons Equity (Deficit) IPO	Total Parsons Equity (Deficit) Revision of Prior Period, Accounting Standards Update, Adjustment	Noncontrolling Interest
Beginning balance at Dec. 31, 2018	$ (921,076)						$ (957,025)	$ 12,445					$ (22,957)	$ (967,537)			$ 46,461
Beginning balance (ASC 842) at Dec. 31, 2018			$ 52,608						$ 52,608							$ 52,608
Beginning balance, Temporary Equity at Dec. 31, 2018				$ 1,876,309
Comprehensive income
Net income	137,128							120,534						120,534			16,594
Foreign currency translation gain (loss), net	8,418												8,415	8,415			3
Pension adjustments	281												281	281
Purchase of treasury stock	(53)						(6,272)	6,219						(53)
Temporary equity, Purchase of treasury stock				(6,219)
Contributions of treasury stock to ESOP	53,644						29,057			$ 24,587				53,644
Contributions	10,093																10,093
Distributions	(42,285)																(42,285)
Dividend paid	(52,093)							(52,093)						(52,093)
Stock-based compensation	8,272									8,272				8,272
Issuance of equity securities, net of retirements/ IPO proceeds, net	(1,149)	$ 536,878			$ 47	$ 21,296		(197)		(999)	$ 515,582			(1,149)	$ 536,878
Conversion of S-Corp to C-Corp	(25,877)							(25,877)						(25,877)
Temporary equity, Conversion of S-Corp to C-Corp				25,877
ESOP shares at redemption value	(857,559)							(331,664)		(525,895)				(857,559)
Temporary equity, ESOP shares at redemption value				857,559
Temporary to permanent equity end of lock-up period	2,753,526			$ (2,753,526)	125,098					2,628,428				2,753,526
Ending Balance at Dec. 31, 2019	1,660,756				146,441		(934,240)	(218,025)		2,649,975			(14,261)	1,629,890			30,866
Ending Balance (ASC 2016-13) at Dec. 31, 2019			(1,000)						(1,000)							(1,000)
Comprehensive income
Net income	118,921							98,541						98,541			20,380
Foreign currency translation gain (loss), net	484												484	484
Pension adjustments	(88)												(88)	(88)
Contributions of treasury stock to ESOP	54,922						34,912			20,010				54,922
Contributions	2,215																2,215
Distributions	(5,816)																(5,816)
Stock-based compensation	15,234									15,234				15,234
Issuance of equity securities, net of retirements/ IPO proceeds, net	3,040				168			(85)		2,957				3,040
Equity component value of convertible note issuance	53,552									53,552				53,552
Purchase of convertible note hedge	(54,611)									(54,611)				(54,611)
Sale of common stock warrants	13,808									13,808				13,808
Ending Balance at Dec. 31, 2020	1,861,417				146,609		(899,328)	(120,569)		2,700,925			(13,865)	1,813,772			47,645
Ending Balance (ASC 2020-06) at Dec. 31, 2020			$ (37,220)						$ 2,782			$ (40,002)				$ (37,220)
Comprehensive income
Net income	88,952							64,072						64,072			24,880
Foreign currency translation gain (loss), net	3,834												3,837	3,837			(3)
Pension adjustments	460												460	460
Contributions of treasury stock to ESOP	54,001						31,937			22,064				54,001
Contributions	1,754																1,754
Distributions	(37,932)																(37,932)
Repurchases of common stock	(21,701)				(619)					(21,082)				(21,701)
Stock-based compensation	20,187									20,187				20,187
Issuance of equity securities, net of retirements/ IPO proceeds, net	3,360				287			186		2,887				3,360
Ending Balance at Dec. 31, 2021	$ 1,937,112				$ 146,277		$ (867,391)	$ (53,529)		$ 2,684,979			$ (9,568)	$ 1,900,768			$ 36,344

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities
Net income including noncontrolling interests	$ 88,952	$ 118,921	$ 137,128
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	144,209	127,980	125,700
Amortization of debt issue costs	2,817	1,356	973
Amortization of convertible notes discount	0	3,831	0
Loss on disposal of property and equipment	338	116	1,042
Provision for doubtful accounts	8	(1,503)	290
Deferred taxes	(3,468)	1,271	(123,338)
Foreign currency transaction gains and losses	4,916	(493)	4,472
Equity in earnings of unconsolidated joint ventures	(36,862)	(30,059)	(41,721)
Return on investments in unconsolidated joint ventures	24,494	41,457	51,077
Stock-based compensation	20,187	15,234	8,272
Contributions of treasury stock	54,905	55,327	53,644
Changes in assets and liabilities, net of acquisitions and newly consolidated joint ventures
Accounts receivable	99,894	(8,623)	(30,206)
Contract assets	1,494	9,243	(49,999)
Prepaid expenses and other assets	(18,798)	11,494	(22,110)
Accounts payable	(31,766)	1,494	(17,123)
Accrued expenses and other current liabilities	(74,683)	3,405	78,366
Contract liabilities	(30,407)	(29,674)	20,146
Income taxes	2,878	(3,080)	(5,421)
Other long-term liabilities	(43,534)	(28,536)	29,048
Net cash provided by operating activities	205,574	289,161	220,240
Cash flows from investing activities
Capital expenditures	(21,105)	(34,036)	(67,597)
Proceeds from sale of property and equipment	1,329	1,546	3,789
Payments for acquisitions, net of cash acquired	(198,256)	(302,894)	(494,826)
Investments in unconsolidated joint ventures	(38,459)	(11,038)	(24,579)
Return of investments in unconsolidated joint ventures	772	53	12,410
Proceeds from sales of investments in unconsolidated joint ventures	14,812	0	0
Net cash used in investing activities	(240,907)	(346,369)	(570,803)
Cash flows from financing activities
Proceeds from borrowings	0	212,900	597,200
Repayments of borrowings	(50,000)	(212,900)	(777,200)
Payments for debt costs and credit agreement	(1,937)	0	(286)
Proceeds from issuance of convertible notes	0	400,000	0
Payments for purchase of bond hedges	0	(54,968)	0
Proceeds from issuance of warrants	0	13,808	0
Transaction costs paid in connection with convertible notes issuance	0	(10,250)	0
Contributions by noncontrolling interests	1,754	2,215	10,093
Distributions to noncontrolling interests	(37,932)	(5,816)	(42,285)
Repurchases of common stock	(21,701)	0	(6,272)
Taxes paid on vested stock	(2,242)	(1,149)	0
Proceeds from issuance of common stock	5,555	4,386	536,879
Dividend paid	0	0	(52,093)
Net cash provided by financing activities	(106,503)	348,226	266,036
Effect of exchange rate changes	(1,496)	823	(1,294)
Net increase (decrease) in cash, cash equivalents and restricted cash	(143,332)	291,841	(85,821)
Cash, cash equivalents and restricted cash
Beginning of year	487,215	195,374	281,195
End of year	343,883	487,215	195,374
Cash paid during the year for
Interest	14,993	14,207	23,254
Income taxes (net of refunds)	$ 22,461	$ 55,354	$ 60,477

Description of Operations

12 Months Ended

Dec. 31, 2021

Description Of Operations Disclosure [Abstract]

Description of Operations

1.	Description of Operations

Organization

Parsons Corporation, a Delaware corporation, and its subsidiaries (collectively, the “Company”) provide sophisticated design, engineering and technical services, and smart and agile software to the United States federal government and Critical Infrastructure customers worldwide. The Company performs work in various foreign countries through local subsidiaries, joint ventures and foreign offices maintained to carry out specific projects.

Initial Public Offering

On May 8, 2019, the Company consummated its initial public offering (“IPO”) whereby the Company sold 18,518,500 shares of common stock for $27.00 per share. The underwriters exercised their share option on May 14, 2019 to purchase an additional 2,777,775 shares at the share price of $25.515 which was the IPO share price of $27.00 less the underwriting discount of $1.485 per share. The net proceeds of the IPO and the underwriters’ share option were $536.9 million, after deducting underwriting discounts and other fees, and were used to fund an IPO dividend of $52.1 million, repay the outstanding balance of $150.0 million under our Term Loan, and repay outstanding indebtedness under our Revolving Credit Facility.

Stock Dividend

On April 15, 2019, the board of directors of the Company declared a common stock dividend in a ratio of two shares of common stock for every one share of common stock then held by the Company’s stockholder (the “Stock Dividend”). The record date of this common Stock Dividend was May 7, 2019, the day immediately prior to the consummation of the Company’s IPO on May 8, 2019, and the payment date of the Stock Dividend was May 8, 2019. Purchasers of the Company’s common stock in the Company’s public offering were not entitled to receive any portion of the Stock Dividend.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2021

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Summary of Significant Accounting Policies

2.	Summary of Significant Accounting Policies

Basis of Presentation and Principles of Consolidation

The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and include the accounts of Parsons Corporation and its subsidiaries and affiliates which it controls. Interests in joint ventures that are controlled by the Company, or for which the Company is otherwise deemed to be the primary beneficiary, are consolidated. For joint ventures in which the Company does not have a controlling interest, but exerts significant influence, the Company applies the equity method of accounting. Intercompany accounts and transactions are eliminated in consolidation.

Use of Estimates

The preparation of the consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual amounts could differ from those estimates. The Company’s most significant estimates and judgments involve revenue recognition with respect to the determination of the costs to complete contracts and transaction price; determination of self-insurance reserves; useful lives of

property and equipment and intangible assets; valuation of deferred income tax assets and uncertain tax positions, among others.

ESOP

The Company maintains a non-leveraged ESOP for eligible employees, for which the Company contributes shares of its own stock to the ESOP trust each year. Throughout the year, as employee services are rendered, the Company records compensation expense based on salaries of eligible employees. At each reporting period, the shares held within the ESOP or committed to be contributed to the ESOP are adjusted to their redemption value through an offsetting charge or credit to accumulated deficit.

Treasury Stock

The Company records treasury stock purchases under the cost method whereby the entire cost of the acquired stock is recorded as treasury stock. The Company records the reissuance of treasury stock using the first-in, first-out method of accounting. Contributions of 1,631,477 shares, 1,522,381 shares, and 1,345,198 shares of common stock were made to the ESOP in 2021, 2020 and 2019, respectively. In 2019, the Company repurchased 191,331 shares of common stock from the ESOP in connection with the redemption of ESOP participants’ interests in the ESOP for $6.3 million. Subsequent to November 3, 2019 when the 180-day lock-up period ended, repurchases are no longer required for ESOP redemptions. In 2020, the Company did not repurchase any shares of common stock.

Share Repurchases

During the third quarter of 2021, the Company’s Board of Directors authorized the Company to acquire a number of shares of Common Stock having an aggregate market value of not greater than $100,000,000 from time to time. Repurchased shares of common stock are retired and included in “Repurchases of common stock” in cash flows from financing activities in the Consolidated Statements of Cash Flows.

Earnings per Share

Basic earnings per common share (“EPS”) is calculated by dividing Net income by the weighted average number of common shares outstanding during the year. Diluted earnings per common share is calculated using the if-converted method by dividing adjusted net income by adjusted weighted average outstanding shares, assuming conversion of all potentially dilutive securities. Upon contribution to the ESOP, the shares become outstanding and are included within the earnings per share computations.

Revenue Recognition

In accordance with ASC 606, the Company follows the five-step process in ASC 606 to recognize revenue:

Identify the contract

Identify performance obligations

Determine the transaction price

Allocate the transaction price

Recognize revenue

Contracts—Revenue is derived from long-term contracts with customers whereby the Company provides planning, design, engineering, technical, and construction and program management services. The Company has contracts with the United States federal government that contain provisions requiring compliance with the United States Federal Acquisition Regulation (“FAR”) and the United States Cost Accounting Standards (“CAS”). These regulations are generally applicable to all of the Company’s federal government contracts and are partially or fully incorporated in some local and state agency contracts.

Most of the Company’s federal government contracts are subject to termination at the convenience of the client. These contracts typically provide for reimbursement of costs incurred and payment of fees earned through the date of such termination.

The Company enters into the following types of contracts with its customers:

Cost-Plus—Under cost-plus contracts, the Company is reimbursed for allowable or otherwise defined costs incurred, plus a fee. The contracts may also include incentives for various performance criteria, including quality, timeliness, safety and cost-effectiveness. In addition, costs are generally subject to review by clients and regulatory audit agencies, and such reviews could result in costs being disputed as non-reimbursable under the terms of the contract.

Time-and-Materials—Under time-and-materials contracts, hourly billing rates are negotiated and charged to clients based on the actual time spent on a project. In certain cases, these contracts may be subject to maximum contract values. In addition, clients reimburse actual out-of-pocket costs for materials and other direct incidental expenditures that are incurred in connection with the performance under the contract.

Fixed-Price—The Company enters into two types of fixed-price contracts: firm fixed-price (“FFP”) and fixed-price per unit (“FPPU”). Under FFP contracts, clients pay an agreed fixed-amount negotiated in advance for a specified scope of work.

Contract Costs—Contract costs consist of direct costs on contracts, including labor and materials, amounts payable to subcontractors, direct overhead costs and equipment expense (primarily depreciation, fuel, maintenance and repairs). All contract costs are recorded as incurred. Changes to estimated contract costs, either due to unexpected events or revisions to management’s initial estimates, for a given project are recognized in the period in which they are determined. Pre-contract costs are expensed as incurred unless they are expected to be recovered from the client, generate or enhance resources that will be used in satisfying performance obligations in the future and directly relate to an existing or anticipated contract. Costs to mobilize equipment and labor to a job site, prior to substantive work beginning (“mobilization costs”) are capitalized as incurred and amortized over the expected duration of the contract. Additionally, the Company may incur incremental costs to obtain certain contracts, such as selling and market costs, bid and proposal costs, sales commissions, and legal fees, certain of which can be capitalized if they are recoverable under the contract. Capitalized contract costs are included in other current assets on the consolidated balance sheets and were not material as of December 31, 2021 and December 31, 2020.

Performance Obligations—A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account in ASC 606. The transaction price of a contract is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. To the extent a contract is deemed to have multiple performance obligations, the Company allocates the transaction price of the contract to each performance obligation using our best estimate of the standalone selling price of each distinct good or service in the contract. The Company determines the relative standalone selling price utilizing observable prices for the sale of the underlying goods or services. Contracts are considered to have a single performance obligation if the promise to transfer the individual goods or services is not separately identifiable from other promises in the contracts or is not distinct in the context of the contract, which is mainly because the Company provides a significant service of integrating a complex set of tasks and components into a single project or capability. Engineering and construction contracts are generally accounted for as a single performance obligation while our engineering and construction supervision contracts are accounted for as two separate performance obligations. When providing construction supervision services, the Company is not liable for the construction of the asset, but has an overall responsibility to oversee, coordinate, measure, and evaluate the quality of construction work and the performance of the construction contractor on behalf of the customer. Customers are generally billed as the Company satisfies its performance obligations and payment terms typically range from 30 to 120 days from the invoice date. Billings under certain fixed-price contracts may be based upon the achievement of specified milestones, while some arrangements may

require advance customer payment. The Company’s contracts generally do not include a significant financing component.

Variable Consideration—The transaction price for the Company’s contracts may include variable consideration, which includes increases to transaction price for approved and unpriced change orders, claims and incentives, and reductions to transaction price for liquidated damages. Change orders, claims and incentives are generally not distinct from the existing contract due to the significant integration service provided in the context of the contract and are accounted for as a modification of the existing contract and performance obligation. The Company estimates variable consideration for a performance obligation utilizing one of the two prescribed methods, depending on which method better predicts the amount of consideration to which the Company will be entitled (or the amount the Company expects to incur in the case of liquidated damages). Such methods are: (a) the expected value method, whereby the amount of variable consideration to be recognized represents the sum of probability weighted amounts in a range of possible consideration amounts, and (b) the most likely amount method, whereby the amount of variable consideration to be recognized represents the single most likely amount in a range of possible consideration amounts. When applying these methods, the Company considers all information that is reasonably available, including historical, current and estimates of future performance. The expected value method is utilized in situations where a contract contains a large number of possible outcomes, while the most likely amount method is utilized in situations where a contract has only two possible outcomes.

The Company includes variable consideration in the estimated transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur or when the uncertainty associated with the variable consideration is resolved. The Company’s estimates of variable consideration and determination of whether to include estimated amounts in transaction price are based largely on an assessment of anticipated performance and all information (historical, current and forecasted) that is reasonably available. The effect of variable consideration on the transaction price of a performance obligation is recognized as an adjustment to revenue on a cumulative catch-up basis.

Change Orders—Change orders, which are a normal and recurring part of business, may include changes in specifications or design, manner of performance, facilities, equipment, materials, sites and period of completion of the work. The Company or customer may initiate change orders. Most change orders are not distinct from the existing contract and are accounted for as part of that existing contract. The effect of a change order on the transaction price and measure of progress for the performance obligation to which it relates is recognized as an adjustment to revenues (either as an increase in or a reduction of revenues) on a cumulative catch-up basis. Revenues from unpriced change orders are recognized to the extent of the amounts the Company expects to recover, consistent with the variable consideration policy discussed above. If it is probable that a reversal of revenues will occur, the costs attributable to change orders are treated as contract costs without incremental revenues. To the extent change orders included in the price are not resolved in the Company’s favor, there could be reductions in, or reversals of previously reported amounts of, revenues and profits, and charges against current earnings, which could be material.

Claims Revenue—Claims revenue are amounts in excess of agreed contract prices that the Company seeks to collect from clients or others for customer-caused delays, errors in specifications and designs, contract terminations, change orders that are in dispute, or other causes of unanticipated additional contract costs, including factors outside of our control, and therefore the Company believes it is entitled to additional compensation. Claims revenue, when recorded, is only recorded to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur. The Company includes certain claims in the transaction price when the claims are legally enforceable, the Company considers collection to be probable and believes it can reliably estimate the ultimate value. The Company continues to engage in negotiations with its customers on outstanding claims. However, these claims may be resolved at amounts that differ from current estimates, which could result in increases or decreases in future estimated contract profits or losses.

Warranties—In most cases, contracts include assurance-type warranties that the Company’s performance is free from material defect and consistent with the specifications of the Company’s contracts, which do not give rise to a separate performance obligation. To the extent the warranty terms provide the customer with an additional service, such as extended maintenance services, such warranty is accounted for as a separate performance obligation.

Revenue recognized over time—The Company’s performance obligations are generally satisfied over time as work progresses because of continuous transfer of control to the customer and the Company has the right to bill the customer as costs are incurred. Typically, revenue is recognized over time using an input measure (i.e. costs incurred to date relative to total estimated costs at completion) to measure progress. The Company generally uses the cost-to-cost measure of progress method because it best depicts the transfer of control to the customer which occurs as the Company incurs costs on its contracts. Under the cost-to-cost measure of progress method, the extent of progress towards completion is measured based on the ratio of total costs incurred to-date to the total estimated costs at completion of the performance obligation. Revenues, including estimated fees or profits, are recorded proportionally as costs are incurred. Any expected losses on construction-type contracts in progress are charged to earnings, in total, in the period the losses are identified. The Company recognizes adjustments in estimated profit on contracts under the cumulative catch-up method. Under this method, the impact of the adjustment on profit recorded to date is recognized in the period the adjustment is identified. Revenue and profit in future periods of contract performance is recognized using the adjusted estimate. If at any time the estimate of contract profitability indicates an anticipated loss on the contract, the Company recognizes the total loss in the period it is identified.

Right to invoice practical expedient—For performance obligations satisfied over time where the Company has a right to consideration from a customer in an amount that corresponds directly with the value of the Company’s performance to-date, the Company recognizes revenue in the amount to which it has a right to invoice. For the Company’s reimbursable services contracts, revenue is recognized using the right to invoice practical expedient, or on a cost-to-cost measure of progress method. The Company will select the method that best represents progress on a project.

Revenue recognized at a point in time—For performance obligations satisfied at a point in time, revenue is recognized when the services are performed, control is transferred, and the performance obligation is complete. The Company recognizes revenue at a point in time for vehicle inspection services. Revenue related to the inspection service is recognized for each vehicle inspection at the point the Company has completed the inspection.

In the Company’s industry, recognition of profit on long-term contracts requires the use of assumptions and estimates related to total contract revenue and in particular estimated claims revenue, total estimated cost at completion, and the measurement of progress towards completion. Estimates are continually evaluated as work progresses and are revised when necessary. When a change in estimate is determined to have an impact on contract profit, the Company records a positive or negative adjustment to the consolidated statements of income.

Cash Equivalents

The Company considers all highly liquid investments with original maturities of less than three months to be cash equivalents. Cash equivalent investments are carried at cost, which approximates fair value, and consist primarily of United States Treasuries, time deposits, and other forms of short-term fixed income investments.

Restricted Cash and Investments

Restricted cash and investments held in trust accounts represent collateral for certain incentive programs.

Accounts Receivable, Net

Accounts receivable includes billed and unbilled amounts and are recognized in the period when the Company’s rights to receive consideration are unconditional.

The Company establishes an allowance for doubtful accounts based on consideration of trends in actual and forecasted credit quality of clients, including delinquency and payment history, type of client, such as a government agency or commercial sector client, and general economic conditions and particular industry conditions that may affect a client’s ability to pay. Past due receivable balances are written off when internal collection efforts have been unsuccessful in collecting the amounts due.

Contract Assets and Contract Liabilities

Projects with performance obligations recognized over time that have revenue recognized to-date in excess of cumulative billings and unbilled accounts receivable are reported on our consolidated balance sheets as “Contract assets”. Contract retentions, included in contract assets, represent amounts withheld by clients, in accordance with underlying contract terms, until certain conditions are met or the project is completed. The operating cycle for certain long-term contracts may extend beyond one year, and, accordingly, collection of retainage on those contracts may extend beyond one year. Contract assets are reclassified to accounts receivable when the right to consideration becomes unconditional.

Contract liabilities on uncompleted contracts represent the excess of cash collected from clients and billings to clients on contracts in advance of work performed over the amount of revenue recognized and provisions for losses. The majority of these amounts are expected to be earned within 12 months and are classified as current liabilities.

Concentration of Credit Risk

Financial instruments which potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivables. The Company’s cash is primarily held with major banks and financial institutions throughout the world. At times, cash balances may be in excess of the amount insured.

The Company is involved in a significant volume of contracts with the United States federal government and state and local governments. Approximately 52%, 49%, and 48% of consolidated revenues for the years ended December 31, 2021, December 31, 2020 and December 31, 2019, respectively, and approximately 17% and 19% of accounts receivable as of December 31, 2021 and December 31, 2020, respectively, were derived from contracts with the United States federal government. No other customers represented 10% or more of consolidated revenues or accounts receivable in any of the periods presented.

In order to mitigate the credit risk associated with customers, the Company performs periodic credit evaluations of its customers’ financial condition.

Property and Equipment

Property and equipment are stated at cost and are shown net of accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. Depreciation of leasehold improvements is computed using the straight-line method over the shorter of their estimated useful lives or the remaining term of the lease.

The cost of assets retired or otherwise disposed of and the related accumulated depreciation are eliminated from the accounts, and any gain or loss thereon is included in net income. Expenditures for maintenance and repairs are expensed as incurred. Property and equipment are reviewed for impairment when events or circumstances change that indicate they may not be recoverable. Impairment losses are recognized when estimated future cash flows expected to result from the use of the assets and their

eventual disposition are less than their carrying amount, in which case the asset is written down to its fair value.

Leases

The Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease ROU assets and current and long-term operating lease liabilities in the consolidated balance sheets. Finance leases are included in other noncurrent assets, accrued expenses and other current liabilities and other long-term liabilities in the consolidated balance sheets.

ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of the Company’s leases do not provide an implicit rate, incremental borrowing rates are used based on the information available at commencement date in determining the present value of lease payments. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. Lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense for operating lease payments is recognized on a straight-line basis over the lease term.

We have lease agreements with lease and non-lease components where the lease consideration is allocated between the components based on relative standalone prices. For real property leases, allocations of lease consideration between lease and non-lease components are immaterial. For certain equipment leases, such as vehicles, we account for the lease and non-lease components as a single lease component. Additionally, for certain equipment leases, we apply a portfolio approach to effectively account for the operating lease ROU assets and liabilities.

Equity-Based Compensation

The Company measures the value of services received from employees and directors in exchange for an equity-based award based on the grant date fair value. The Company issues equity-based awards that settle in shares of the Company’s common stock. Prior to the IPO, the Company issued equity-based awards that settled in cash. Cash settled awards are subsequently remeasured to an updated fair value at each reporting period until the award is settled. Awards containing performance measures are adjusted at each reporting period for the number of shares expected to be earned. Compensation cost for cash settled and performance awards are trued-up at each reporting period for changes in fair value and expected shares pro-rated for the portion of the requisite service period rendered. The Company recognizes compensation costs for these awards on either a straight-line or accelerated basis over the vesting period of the award in selling, general and administrative expense in the consolidated statements of income.

Business Combinations

The Company accounts for business combinations using the acquisition method, under which the purchase price of an acquired company is allocated to the tangible and intangible assets acquired and the liabilities assumed on the basis of their fair values at the date of acquisition. Any excess of purchase price over the fair value of tangible and intangible assets acquired and liabilities assumed is allocated to goodwill. The determination of fair values of assets acquired and liabilities assumed requires the Company to make estimates and use valuation techniques when a market value is not readily available.

The Company’s determination of the fair value of the intangible assets acquired involves the use of significant estimates and assumptions related to discount rates, revenue growth rates, projected margins, and customer revenue attrition rates.

The Company adjusts the preliminary purchase price allocation, as necessary, during the measurement period of up to one year after the acquisition closing date as the Company obtains more

information as to facts and circumstances existing at the acquisition date. Acquisition-related costs are recognized separate from the acquisition and are expensed as incurred.

Consolidation of Joint Ventures and Variable Interest Entities

The Company participates in joint ventures, which include partnerships and partially owned limited liability corporations, to bid, negotiate and complete specific projects. The Company is required to consolidate these joint ventures if it holds the majority voting interest or if the joint venture is determined to be a variable interest entity (“VIE”) for which the Company is the primary beneficiary, as described below.

A VIE is an entity with one or more of the following characteristics: (a) the total equity investment at risk is not sufficient to permit the entity to finance its activities without additional financial support; (b) as a group, the holders of the equity investment at risk lack the ability to make certain decisions, the obligation to absorb expected losses or the right to receive expected residual returns; or (c) an equity investor has voting rights that are disproportionate to its economic interest and substantially all of the entity’s activities are on behalf of the investor with disproportionately low voting rights. The Company’s VIEs may be funded through contributions, loans and/or advances from the joint venture partners or by advances and/or letters of credit provided by clients. Certain VIEs are directly governed, managed, operated and administered by the joint venture partners. Others have no employees and, although these entities own and hold the contracts with the clients, the services required by the contracts are typically performed by the joint venture partners or by other subcontractors.

The Company is considered the primary beneficiary and required to consolidate a VIE if it has the power to direct the activities that most significantly impact that VIE’s economic performance, and the obligation to absorb losses or the right to receive benefits of that VIE that could potentially be significant to the VIE. In determining whether the Company is the primary beneficiary, significant assumptions and judgments include the following: (1) identifying the significant activities and the parties that have the power to direct them; (2) reviewing the governing board composition and participation ratio; (3) determining the equity, profit and loss ratio; (4) determining the management-sharing ratio; (5) reviewing employment terms; and (6) reviewing the funding and operating agreements. Examples of significant activities currently being performed by the Company’s significant consolidated and unconsolidated joint ventures include engineering and design services; management consulting services; procurement and construction services; program management; construction management; and operations and maintenance services. If the Company determines that the power to direct the significant activities is shared by two or more joint venture parties, then there is no primary beneficiary and no party consolidates the VIE. In making the shared-power determination, the Company analyzes the key contractual terms, governance, related party and de facto agency as they are defined in the accounting standard, and other arrangements.

Goodwill

In 2019, the Company changed the date of its annual goodwill impairment testing from November 30 to October 1. This change results in better alignment of the Company's annual impairment test with the Company’s annual budgeting cycle and provides a more reliable measurement using the Company’s interim closing processes. The change had no effect on the Company’s financial statements for the current or historical periods.

The Company performs an additional review at year end to address whether a triggering event has occurred that would require an interim impairment test in the interim period.

For purposes of impairment testing, goodwill is allocated to the applicable reporting units based on the current reporting structure. Reporting units are operating segments or components of operating segments where discrete financial information is available and segment management regularly reviews the operating results. When evaluating goodwill for impairment, the Company may decide to first perform a qualitative assessment, or “step zero” impairment test, to determine whether it is more likely than not

that impairment has occurred. If the Company does not perform a qualitative assessment, or if the Company determines that it is not more likely than not that the fair value of its reporting units exceeds their carrying amounts, the Company performs a quantitative assessment and calculates the estimated fair value of the respective reporting unit. If the carrying amount of a reporting unit exceeds its fair value, an impairment loss is recognized in the amount the carrying value exceeds its fair value, not to exceed the carrying amount of goodwill.

The Company’s decision to perform a qualitative impairment assessment in a given year is influenced by a number of factors, including the significance of the excess of the Company’s estimated fair value over carrying value at the last quantitative assessment date, the amount of time in between quantitative fair value assessments, and the date of its acquisitions, if any.

Intangible Assets

Intangible assets with finite lives arise from business acquisitions and are amortized based on the period over which the contractual or economic benefit of the intangible assets are expected to be realized or on a straight-line basis over the useful lives of the underlying assets, ranging from one to sixteen years. These primarily consist of customer relationships, developed technology, backlog, and covenants not to compete. When indicators of a potential impairment exist, the Company assesses the recoverability of the unamortized balance of its intangible assets by first comparing undiscounted expected cash flows associated with the asset, or the asset group they are part of, to its carrying value. Should the review indicate that the carrying value is not fully recoverable, the excess of the carrying value over the fair value of the intangible assets would be recognized as an impairment loss.

Income Taxes

Income taxes are accounted for under the asset and liability method. This approach requires the recognition of deferred tax liabilities and assets to reflect the tax effects of temporary differences between the financial statement carrying amounts and tax bases of the Company’s assets and liabilities. Deferred tax assets and liabilities are measured using enacted tax rates expected to be in effect when the asset or liability is recovered or settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. Deferred tax assets are evaluated for future realization and valuation allowances are established when, in our opinion, it is more likely than not that all or some portion of the asset will not be realized.

The Company recognizes the effect of income tax positions only if those positions are more likely than not of being sustained on examination by the taxing authorities based on the technical merits of the position. The tax benefits recognized in the financial statements on a particular tax position are measured based on the largest benefit that is greater than 50 percent likely of being realized. The amount of unrecognized tax benefits (“UTB”) is adjusted as appropriate for changes in facts and circumstances, such as significant amendments to existing tax law, new regulations or interpretations by the taxing authorities, new information obtained during a tax examination, or resolution of an examination. The Company recognizes both accrued interest and penalties, where appropriate, related to UTBs in income tax expense.

Foreign Currency Translation

The Company’s reporting currency is the U.S. Dollar. The functional currency of the Company’s foreign entities is typically the currency of the primary environment in which they operate. For foreign entities whose functional currency is not the U.S. dollar, the assets and liabilities are translated based on exchange rates in effect at the balance sheet date, while the income and expense accounts are translated using the average exchange rates during the period. Translation gains or losses, net of income tax effects, are reflected in accumulated other comprehensive income on the consolidated balance sheets. Transaction gains and losses due to movements in exchange rates between the functional

currency and the currency in which a foreign currency transaction is denominated are recognized as “Other income (expense), net” in the Company’s consolidated statements of income.

Self-Insurance

The Company typically utilizes third-party insurance subject to varying retention levels or self-insurance. The Company is self-insured for a portion of the losses and liabilities primarily associated with workers’ compensation, general, professional, automobile, employee matters, certain medical plans, and project-specific liability claims. Losses are accrued based upon the Company’s estimates of the aggregate liability for claims incurred using historical experience and certain actuarial assumptions, as provided by an independent actuary. The estimate of self-insurance liability includes an estimate of incurred but not reported claims, based on data compiled from historical experience.

Recently Adopted Accounting Pronouncements

In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-02, “Leases (Topic 842)”, which is a new standard related to leases intended to increase transparency and comparability among organizations by requiring the recognition of right-of-use (“ROU”) assets obtained in exchange for lease liabilities on the balance sheet. Most prominent among the changes in the standard is the recognition of ROU assets and lease liabilities by lessees for those leases classified as operating leases. Under the standard, disclosures are required to meet the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases.

The Company elected to adopt the standard, and available practical expedients, effective January 1, 2019. These practical expedients allowed the Company to keep the lease classification assessed under the previous lease accounting standard (ASC 840) without reassessment under the new standard, and allowed all separate lease components, including non-lease components, to be accounted for as a single lease component for all existing leases prior to adoption of the new standard. Furthermore, the Company made an accounting policy election to not recognize a lease liability and ROU asset for leases with lease terms of twelve months or less.

The Company adopted this new standard under the modified retrospective transition approach without adjusting comparative periods in the financial statements, as allowed under Topic 842, and implemented internal controls and key system functionality to enable the preparation of financial information on adoption.

The standard had a material impact on the Company’s consolidated balance sheets but did not have an impact on the consolidated statements of income and cash flows. The most significant impact was the recognition of ROU assets and lease liabilities for operating leases, while accounting for finance leases remained substantially unchanged.

As a result of the adoption, the Company recorded a cumulative-effect adjustment to retained earnings of $52.6 million, net of deferred tax asset adjustment of $0.7 million, representing the unamortized portion of a deferred gain previously recorded as a sale-leaseback transaction associated with the sale of an office building in 2011. The Company concluded the transaction resulted in the transfer of control of the office building to the buyer-lessor at market terms and would have qualified as a sale under Topic 842 with gain recognition in the period the sale was recognized.

In July 2018, the FASB issued ASU No. 2018-09, “Codification Improvements”. The amendments in this ASU clarify certain aspects of the guidance related to: reporting comprehensive income, debt modification and extinguishment, income taxes related to stock compensation, income taxes related to business combinations, derivatives and hedging, fair value measurements, brokers and dealers liabilities, and plan accounting. This ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The Company has adopted this ASU on a prospective basis in the

first quarter of 2019 and has determined there to be no impact on its financial statements and related disclosures.

Effective January 1, 2019, the Company adopted ASU 2018-02, “Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income” under which the Company did not elect to reclassify the income tax effects stranded in accumulated other comprehensive income to retained earnings as a result of the enactment of comprehensive tax legislation, commonly referred to as the Tax Cuts and Jobs Act. As a result, there was no impact on the Company’s financial position, results of operations or cash flows.

In June 2016, the FASB issued ASU 2016-13, “Measurement of Credit Losses on Financial Instruments,” and issued subsequent amendments to the initial guidance within ASU 2019-04 and ASU 2019-05. The amendments in ASU 2016-13 replace the incurred loss impairment methodology in current practice with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to estimate credit losses. ASU 2016-13 and its amendments are effective for interim and annual reporting periods beginning after December 15, 2019. The Company adopted this ASU in the first quarter of 2020, and it did not have a material impact on its financial statements.

In December 2019, the FASB issued ASU No. 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”)”. ASU 2019-12 was issued as a means to reduce the complexity of accounting for income taxes for those entities that fall within the scope of the accounting standard. The guidance is applied using a prospective method, excluding amendments related to franchise taxes, which should be applied on either a retrospective basis for all periods presented or a modified retrospective basis through a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year of adoption. ASU 2019-12 is effective for fiscal years beginning after December 15, 2020, with early adoption permitted. The Company adopted this ASU in the first quarter of 2021, and it did not have a material impact on its financial statements.

In August 2020, the FASB issued ASU 2020-06, “Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815-40)”. The update simplifies the accounting for convertible debt instruments and convertible preferred stock by reducing the number of accounting models and limiting the number of embedded conversion features separately recognized from the primary contract. The guidance also includes targeted improvements to the disclosures for convertible instruments and earnings per share. ASU 2020-06 is effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020. The Company early adopted this ASU in the first quarter of 2021 using the modified retrospective method which resulted in a reduction in non-cash interest expense and reclassification of the equity portion of the Convertible Senior Notes to “Long-term debt” on the consolidated balance sheet.

Acquisitions

12 Months Ended

Dec. 31, 2021

Business Combinations [Abstract]

Acquisitions

3.	Acquisitions

BlackHorse Solutions, Inc.

On July 6, 2021, the Company acquired a 100% ownership interest in BlackHorse Solutions, Inc (“BlackHorse”), a privately-owned company, for $205.0 million paid in cash. BlackHorse expands Parsons’ capabilities and products in next-generation military, intelligence, and space operations, specifically in cyber electronic warfare and information dominance. The acquisition was entirely funded by cash on-hand. In connection with this acquisition, the Company recognized $3.1 million of acquisition-related expenses in “Selling, general and administrative expense” in the consolidated statements of income for the year ended December 31, 2021, including legal fees, consulting fees, and other miscellaneous direct expenses associated with the acquisition.

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed as of the date of acquisition (in thousands):

	Amount
Cash and cash equivalents	$	15,428
Accounts receivable		3,351
Contract assets		5,979
Prepaid expenses and other current assets		937
Property and equipment		2,239
Right of use assets, operating leases		6,157
Goodwill		143,830
Intangible assets		64,000
Accounts payable		(2,326	)
Accrued expenses and other current liabilities		(17,190	)
Contract liabilities		(320	)
Short-term lease liabilities, operating leases		(1,011	)
Long-term lease liabilities, operating leases		(5,146	)
Deferred tax liabilities		(10,660	)
Other long-term liabilities		(235	)
Net assets acquired	$	205,033

Of the total purchase price, the following values were assigned to intangible assets (in thousands, except for years):

	Gross Carrying Amount		Amortization Period
			(in years)
Customer relationships	$	39,000	16
Backlog		22,000	3
Trade name		1,000	2
Developed technologies		1,000	3
Non-compete agreements		1,000	3

Amortization expense of $5.4 million related to these intangible assets was recorded for the year ended December 31, 2021. The entire value of goodwill of $143.8 million was assigned to the Federal Solutions reporting unit and represents synergies expected to be realized from this business combination. Goodwill of $10.6 million is deductible for tax purposes.

The amount of revenue generated by BlackHorse and included within consolidated revenues for 2021 is $35.3 million. The Company has determined that the presentation of net income from the date of acquisition is impracticable due to the integration of general corporate functions upon acquisition.

The Company is still in the process of finalizing its valuation of the net assets acquired.

Supplemental Pro Forma Information (Unaudited)

Supplemental information on an unaudited pro forma basis, as if the acquisition closed as of the beginning of the fiscal year ended December 31, 2020 as follows (in thousands):

	2021		2020
	(unaudited)		(unaudited)
Pro forma Revenue	$	3,699,227	$	3,966,809
Pro forma Net Income including noncontrolling interests		93,592		108,008

The unaudited pro forma supplemental information is based on estimates and assumptions which the Company believes are reasonable and reflects the pro forma impact of additional amortization related to the fair value of acquired intangible assets, and the pro forma impact of reflecting acquisition costs, which consisted of legal, advisory and due diligence fees and expenses. This supplemental pro forma information has been prepared for comparative purposes and does not purport to be indicative of what would have occurred had the acquisition been consummated during the periods for which pro forma information is presented.

Echo Ridge LLC

On July 30, 2021, the Company acquired a 100% ownership interest in Echo Ridge LLC (“Echo Ridge”), a privately-owned company, for $9.0 million in cash. Echo Ridge adds position, navigation, and timing devices; modeling, simulation, test, and measurement tools; and deployable software defined radio products and signal processing services to Parsons’ space portfolio. The acquisition was entirely funded by cash on-hand. In connection with this acquisition, the Company recognized $0.3 million of acquisition related “Selling, general and administrative expense” in the consolidated statements of income for the year ended December 31, 2021, including legal fees, consulting fees, and other miscellaneous direct expenses associated with the acquisition. The Company allocated the purchase price to the appropriate classes of tangible assets and liabilities and assigned the excess of $7.2 million entirely to goodwill. The entire value of goodwill was assigned to the Federal Solutions reporting unit and represents synergies expected to be realized from this business combination. Goodwill in its entirety is deductible for tax purposes. The amount of revenue generated by Echo Ridge and included within consolidated revenues for 2021 is $2.9 million.

Braxton Science & Technology Group

On November 19, 2020 the Company acquired a 100% ownership interest in Braxton Science & Technology Group (“Braxton”), a privately-owned company, for $310.9 million in cash. Braxton operates at the forefront of satellite operations, ground system automation, flight dynamics, and spacecraft and antenna simulation for the U.S. Department of Defense and Intelligence Community. The acquisition was entirely funded by cash on hand in August 2020, as described in “Note 12—Debt and Credit Facilities”. In connection with this acquisition, the Company recognized $5.5 million of acquisition-related expense in “Selling, general and administrative expense” in the consolidated statements of income for the year ended December 31, 2020, including legal fees, consulting fees, and other miscellaneous direct expenses associated with the acquisition. Braxton allows Parsons to capitalize on the quickly evolving space missions of its national security space customers and address rapid market growth driven by proliferated low earth orbit constellations, small satellite expansion, and space cyber resiliency.

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed based on the purchase price allocation as of the date of acquisition (in thousands):

	Amount
Cash and cash equivalents	$	7,006
Accounts receivable		18,163
Contract assets		8,350
Prepaid expenses and other current assets		3,036
Property and equipment		5,114
Right of use assets, operating leases		10,788
Goodwill		212,185
Intangible assets		74,950
Accounts payable		(7,464	)
Accrued expenses and other current liabilities		(9,845	)
Contract liabilities		(300	)
Short-term lease liabilities, operating leases		(1,915	)
Long-term lease liabilities, operating leases		(8,873	)
Deferred tax liabilities		(1,694	)
Net assets acquired	$	309,501

Of the total purchase price, the following values were assigned to intangible assets (in thousands, except for years):

Amortization expense of $16.2 million and $1.3 million related to these intangible assets was recorded for the years ended December 31, 2021 and December 31, 2020, respectively. The entire value of goodwill was assigned to the Federal Solutions reporting unit and represents synergies expected to be realized from this business combination. Goodwill of $200.5 million is deductible for tax purposes.

The amount of revenue generated by Braxton and included within consolidated revenues for 2020 is $10.1 million. The Company has determined that the presentation of net income from the date of acquisition is impracticable due to the integration of general corporate functions upon acquisition.

Supplemental Pro Forma Information (Unaudited)

Supplemental information of unaudited pro forma operating results assuming the Braxton acquisition had been consummated as of the beginning of 2019 (in thousands) is as follows:

	2020		2019
	(unaudited)		(unaudited)
Pro forma Revenue	$	4,039,420	$	4,042,810
Pro forma Net Income including noncontrolling interests		125,298		126,076

The unaudited pro forma supplemental information is based on estimates and assumptions which the Company believes are reasonable and reflects the pro forma impact of additional amortization related to the fair value of acquired intangible assets, the pro forma impact of reflecting acquisition costs, which consisted of legal, advisory and due diligence fees and expenses. This supplemental pro forma information has been prepared for comparative purposes and does not purport to be indicative of what would have occurred had the acquisition been consummated during the periods for which pro forma information is presented.

QRC Technologies

On July 31, 2019 the Company acquired a 100% ownership interest in QRC Technologies (“QRC”), a privately-owned company, for $214.1 million in cash. QRC provides design and development of open-architecture radio-frequency products. The Company borrowed $140.0 million under the Revolving Credit Facility to partially fund the transaction. In connection with this acquisition, the Company recognized $4.9 million of acquisition-related expenses in “Selling, general and administrative expense” in the consolidated statements of income for the year ended December 31, 2019, including legal fees, consulting fees, and other miscellaneous direct expenses associated with the acquisition. QRC is an agile, disruptive product company that specializes in radio frequency spectrum survey, record and playback; signals intelligence; and electronic warfare missions. QRC complements our existing portfolio, increases our presence in the high-growth markets of spectrum awareness and surveillance, adds critical intellectual property that complements and expands our available capabilities for the Special Operations and Intelligence Communities.

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed based on the purchase price allocation as of the date of acquisition (in thousands):

	Amount
Cash and cash equivalents	$	5,925
Accounts receivable		5,587
Prepaid expenses and other current assets		5,727
Property and equipment		1,205
Right of use assets, operating leases		5,228
Goodwill		125,091
Intangible assets		76,200
Accounts payable		(1,567	)
Accrued expenses and other current liabilities		(4,025	)
Short-term lease liabilities, operating leases		(545	)
Long-term lease liabilities, operating leases		(4,683	)
Net assets acquired	$	214,143

Of the total purchase price, the following values were assigned to intangible assets (in thousands, except for years):

	Gross Carrying Amount		Amortization Period
			(in years)
Customer relationships	$	49,800		12
Developed technologies		21,800	3 to 5
In-process research and development		1,800	3 to 5
Non-compete agreements		1,200		4
Trade name		800		2
Backlog		800		1

Amortization expense of $13.1 million, $14.0 million and $5.7 million related to these intangible assets was recorded for the years ended December 31, 2021, December 31, 2020 and December 31, 2019, respectively. The entire value of goodwill of $125.1 million was assigned to the Federal Solutions reporting unit and represents synergies expected to be realized from this business combination. Goodwill in its entirety is deductible for tax purposes.

The amount of revenue generated by QRC and included within consolidated revenues for the year ended December 31, 2019 was $11.2 million. The Company has determined that the presentation of net income from the date of acquisition is impracticable due to the integration of general corporate functions upon acquisition.

Supplemental Pro Forma Information (Unaudited)

Supplemental information of unaudited pro forma operating results assuming the QRC Technologies acquisition had been consummated as of the beginning of fiscal year 2018 (December 30, 2017) (in thousands) is as follows:

	2019
	(unaudited)
Pro forma Revenue	$	3,976,361
Pro forma Net Income including noncontrolling interests		138,692

The unaudited pro forma supplemental information is based on estimates and assumptions which the Company believes are reasonable and reflects the pro forma impact of additional amortization related to the fair value of acquired intangible assets, the pro forma impact of reflecting acquisition costs, which consisted of legal, advisory and due diligence fees and expenses, and the additional pro forma interest expense related to the borrowings under the credit agreement as of the assumed acquisition date. This supplemental pro forma information has been prepared for comparative purposes and does not purport to be indicative of what would have occurred had the acquisition been consummated during the periods for which pro forma information is presented.

OGSystems

On January 7, 2019, the Company acquired a 100% ownership interest in OGSystems, a privately-owned company, for $292.4 million paid in cash. OGSystems provides geospatial intelligence, big data analytics and threat mitigation for defense and intelligence customers. The Company borrowed $110 million under the Credit Agreement and $150 million on a short-term loan, as described in “Note 12—Debt and Credit Facilities,” to partially fund the acquisition. In connection with this acquisition, the Company recognized $5.4 million of acquisition-related expenses in “Selling, general and administrative expense” in the consolidated statements of income for the year ended December 31, 2019, including legal fees, consulting fees, and other miscellaneous direct expenses associated with the acquisition. OGSystems enhances the Company’s artificial intelligence and data analytics expertise with new technologies and solutions. Customers of both companies will benefit from existing, complementary technologies and increased scale, enabling end-to-end solutions under the shared vision of rapid prototyping and agile development.

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed based on the purchase price allocation as of the date of acquisition (in thousands):

	Amount
Cash and cash equivalents	$	5,772
Accounts receivable		9,904
Contract assets		9,747
Prepaid expenses and other current assets		4,307
Property and equipment		4,085
Right of use assets, operating leases		8,826
Goodwill		183,540
Intangible assets		92,300
Other noncurrent assets		10
Accounts payable		(5,450	)
Accrued expenses and other current liabilities		(7,147	)
Contract liabilities		(1,300	)
Short-term lease liabilities, operating leases		(805	)
Income tax payable		(1,178	)
Deferred tax liabilities		(1,195	)
Long-term lease liabilities, operating leases		(8,021	)
Other long-term liabilities		(1,015	)
Net assets acquired	$	292,380

Of the total purchase price, the following values were assigned to intangible assets (in thousands, except for years):

	Gross Carrying Amount		Amortization Period
			(in years)
Customer relationships	$	57,100		5
Backlog		27,700		3
Trade name		3,800		2
Non-compete agreements		2,400		3
Developed technologies	$	1,300		3

Amortization expense of $21.9 million and $23.8 million related to these intangible assets was recorded for the years ended December 31, 2021 and December 31, 2020, respectively. The entire value of goodwill of $183.5 million was assigned to the Federal Solutions reporting unit and represents synergies expected to be realized from this business combination. Goodwill of $16 million is deductible for tax purposes.

The amount of revenue generated by OGSystems and included within consolidated revenues for the year ended December 31, 2019 was $143.4 million. The Company has determined that the presentation of net income from the date of acquisition is impracticable due to the integration of general corporate functions upon acquisition.

Supplemental Pro Forma Information (Unaudited)

Supplemental information of unaudited pro forma operating results assuming the OGSystems acquisition had been consummated as of the beginning of fiscal year 2018 (December 30, 2017) (in thousands) is as follows:

	2019
	(unaudited)
Pro forma Revenue	$	3,956,767
Pro forma Net Income including noncontrolling interests		134,046

The unaudited pro forma supplemental information is based on estimates and assumptions which the Company believes are reasonable and reflects the pro forma impact of additional amortization related to the fair value of acquired intangible assets, the pro forma impact of reflecting acquisition costs, which consisted of legal, advisory and due diligence fees and expenses, and the additional pro forma interest expense related to the borrowings under the credit agreement as of the assumed acquisition date. This supplemental pro forma information has been prepared for comparative purposes and does not purport to be indicative of what would have occurred had the acquisition been consummated during the periods for which pro forma information is presented.

Contracts with Customers

12 Months Ended

Dec. 31, 2021

Revenue From Contract With Customer [Abstract]

Contracts with Customers

4.	Contracts with Customers

Disaggregation of Revenue

The Company’s contracts contain both fixed price and cost reimbursable components. Contract types are based on the component that represents the majority of the contract. The following table presents revenue disaggregated by contract type (in thousands):

	December 31, 2021		December 31, 2020		December 31, 2019
Cost plus	$	1,674,276	$	1,631,140	$	1,705,832
Time-and-Materials		1,021,568		1,034,596		1,074,037
Fixed price		964,927		1,253,210		1,174,943
Total	$	3,660,771	$	3,918,946	$	3,954,812

Refer to “Note 21—Segments Information” for the Company’s revenues by business lines.

Contract Assets and Contract Liabilities

Contract assets and contract liabilities balances at December 31, 2021 and December 31, 2020 were as follows (in thousands):

	December 31, 2021		December 31, 2020		$ change			% change
Contract assets	$	579,216	$	576,568	$	2,648			0.5	%
Contract liabilities		171,671		201,864		(30,193	)		-15.0	%
Net contract assets (liabilities) (1)	$	407,545	$	374,704	$	32,841			8.8	%

(1)

Total contract retentions included in net contract assets (liabilities) were $91.7 million as of December 31, 2021, of which $44.9 million are not expected to be paid in 2022. Total contract retentions included in net contract assets (liabilities) were $93.8 million as of December 31, 2020. Contract assets at December 31, 2021 and December 31, 2020 include approximately $98.6 million and $116.6 million, respectively, related to unapproved change orders, claims, and requests for equitable adjustment. For the years ended December 31, 2021 and December 31, 2020, no material losses were recognized related to the collectability of claims, unapproved change orders, and requests for equitable adjustment.

During the years ended December 31, 2021 and December 31, 2020, the Company recognized revenue of approximately $102.5 million and $137.4 million, respectively, that was included in the corresponding contract liability balance at December 31, 2020 and December 31, 2019, respectively. Certain changes in contract assets and contract liabilities consisted of the following:

	December 31, 2021		December 31, 2020
Acquired contract assets	$	5,979	$	8,350
Acquired contract liabilities		320		300

There was no significant impairment of contract assets recognized during the years ended December 31, 2021 and December 31, 2020.

Revisions in estimates, such as changes in estimated claims or incentives, related to performance obligations partially satisfied in previous periods that individually had an impact of $5 million or more on revenue resulted in the following changes in revenue:

		2021				2020				2019
Revenue impact, net		$	(30,828	)		$	8,875			$	12,166

Accounts Receivable, Net

Accounts receivable, net consisted of the following as of December 31, 2021 and December 31, 2020 (in thousands):

	2021			2020
Billed	$	434,776		$	512,357
Unbilled		167,490			190,222
Total accounts receivable, gross		602,266			702,579
Allowance for doubtful accounts		(3,955	)		(4,001	)
Total accounts receivable, net	$	598,311		$	698,578

Billed accounts receivable represents amounts billed to clients that have not been collected. Unbilled accounts receivable represents amounts where the Company has a present contractual right to bill but an invoice has not been issued to the customer at the period-end date.

The allowance for doubtful accounts was determined based on consideration of trends in actual and forecasted credit quality of clients, including delinquency and payment history, type of client, such as a government agency or commercial sector client, and general economic conditions and particular industry conditions that may affect a client’s ability to pay. We have not seen and do not expect there to be a material risk of non-payment from either our government agency or commercial customers related to COVID-19 impacts; however, we have experienced payment delays due to administrative limitations from both types of customers.

Transaction Price Allocated to the Remaining Unsatisfied Performance Obligations

The Company’s remaining unsatisfied performance obligations (“RUPO”) as of December 31, 2021 represent a measure of the total dollar value of work to be performed on contracts awarded and in progress. The Company had $5.8 billion in RUPO as of December 31, 2021.

RUPO will increase with awards of new contracts and decrease as the Company performs work and recognizes revenue on existing contracts. Projects are included within RUPO at such time the project is awarded and agreement on contract terms has been reached. The difference between RUPO and backlog relates to unexercised option years that are included within backlog and the value of Indefinite Delivery/Indefinite Quantity (“IDIQ”) contracts included in backlog for which task orders have not been issued.

RUPO is comprised of: (a) original transaction price, (b) change orders for which written confirmations from our customers have been received, (c) pending change orders for which the Company expects to receive confirmations in the ordinary course of business, and (d) claim amounts that the Company has made against customers for which it has determined that it has a legal basis under existing contractual arrangements and a significant reversal of revenue is not probable, less revenue recognized to-date.

The Company expects to satisfy its RUPO as of December 31, 2021 over the following periods (in thousands):

Period RUPO Will Be Satisfied	Within One Year		Within One to Two Years		Thereafter
Federal Solutions	$	1,436,578	$	705,773	$	422,666
Critical Infrastructure		1,451,596		868,205		875,202
Total	$	2,888,174	$	1,573,978	$	1,297,868

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

+ Details

Leases

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Leases

5.Leases

The Company has operating and finance leases for corporate and project office spaces, vehicles, heavy machinery and office equipment. Our leases have remaining lease terms of one year to eight years, some of which may include options to extend the leases for up to five years, and some of which may include options to terminate the leases after the third year.

The components of lease costs for the years ended December 31, 2021 and December 31, 2020 are as follows (in thousands):

	2021			2020
Operating lease cost	$	61,800		$	66,159
Short-term lease cost		11,261			15,624
Amortization of right-of-use assets		2,128			1,496
Interest on lease liabilities		106			146
Sublease income		(3,049	)		(3,731	)
Total lease cost	$	72,246		$	79,694

Supplemental cash flow information related to leases for the years ended December 31, 2021 and December 31, 2020 is as follows (in thousands):

	2021		2020
Operating cash flows for operating leases	$	68,563	$	62,117
Operating cash flows for financing activities		107		147
Financing cash flows for finance leases		2,082		1,551
Right-of-use assets obtained in exchange for new operating lease liabilities		18,931		23,949
Right-of-use assets obtained in exchange for new finance lease liabilities	$	2,003	$	1,018

Supplemental balance sheet and other information related to leases as of December 31, 2021 and December 31, 2020 is as follows (in thousands):

	2021			2020
Operating Leases:
Right-of-use assets	$	182,672		$	210,398
Lease liabilities:
Current	$	55,902		$	54,133
Long-term		148,893			182,467
Total operating lease liabilities	$	204,795		$	236,600
Finance Leases:
Other noncurrent assets	$	4,389		$	3,363
Accrued expenses and other current liabilities	$	1,822		$	1,461
Other long-term liabilities	$	2,422		$	1,733

Weighted Average Remaining Lease Term:
Operating leases	4.3 Years			5 years
Finance leases	2.9 years			3 years
Weighted Average Discount Rate:
Operating leases		3.5	%		3.7	%
Finance leases		2.1	%		3.8	%

As of December 31, 2021, the Company has no additional operating leases that have not yet commenced.

A maturity analysis of the future undiscounted cash flows associated with the Company’s operating and finance lease liabilities as of December 31, 2021 is as follows (in thousands):

	Operating Leases			Finance Leases
2022	$	61,449		$	1,885
2023		52,893			1,211
2024		41,973			803
2025		30,965			440
2026		17,326			10
Thereafter		14,540			-
Total lease payments		219,146			4,349
Less: imputed interest		(14,351	)		(105	)
Total present value of lease liabilities	$	204,795		$	4,244

Rental expense for the years ended December 31, 2021, December 31, 2020 and December 31, 2019 was $73.1 million, $81.8 million and $ 82.1 million, respectively, and is recorded in “Selling, general and administrative expenses” in the consolidated statements of income.

Employee Stock Purchase and Equity-Based Compensation Plans

12 Months Ended

Dec. 31, 2021

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Equity-Based Compensation

6.	Employee Stock Purchase and Equity-Based Compensation Plans

Employee Stock Purchase Plan

The Parsons Corporation Employee Stock Purchase Plan (“ESPP”) was adopted effective March 1, 2020. Under the ESPP, eligible employees who elect to participate are granted the right to purchase shares of Parsons common stock at a discount of 5% of the market value on the last trading day of the offering period.

The following table presents stock issuance activity for the years ended December 31, 2021 and December 31, 2020 (in thousands):

	2021		2020
Purchase price paid for shares sold	$	5,556	$	4,386
Number of shares sold		161		127

The average purchase price for the year ended December 31, 2021 and December 31, 2020 was $34.46 and $34.53 per share, respectively.

Equity-Based Compensation Plans

The Company issues stock-based awards through the Incentive Award Plan. Prior to the adoption of the Incentive Award Plan on April 15, 2019, the Company issued awards under the Shareholder Value Plan, Long-Term Growth Plan and Restricted Award Plan. Through these plans the Company may issue stock options (including incentive and non-qualified stock options), stock appreciation rights, restricted stock, restricted stock units, an “other” stock or cash-based awards, or a dividend equivalent award. The compensation expense for these awards is recorded in “Selling, general and administrative expenses” in the Company’s consolidated financial statements.

Stock-based compensation expense was $16.8 million, $8.2 million, and $49.0 million for the years ended December 31, 2021, December 31, 2020 and December 31, 2019, respectively, net of recognized tax benefits of $2.8 million, $1.5 million, and $16.7 million for 2021, 2020 and 2019, respectively. The tax benefit realized related to awards vested during 2021, 2020, and 2019 was $6.3 million, $10.3 million, and $3.3 million, respectively. We recognize forfeitures as they occur.

With the adoption of the Incentive Award Plan on April 15, 2019, the Company has discontinued issuing awards under the other plans described above. Outstanding awards granted out of the discontinued plans will continue to vest and will settle in cash.

At December 31, 2021, the amount of compensation cost relating to non-vested awards not yet recognized in the consolidated financial statements is $19.4 million. The majority of these unrecognized compensation costs will be recognized by the third quarter of fiscal 2023.

As discussed in “Note 1—Description of Operations”, the Company consummated its IPO on May 8, 2019. Subsequent to the IPO, the fair value of a share of the Company’s common stock is based on quoted prices on the NYSE. Please see “Note 19—Fair Value of Financial Instruments” for a description of how the fair value of a share of the Company’s common stock was determined prior to the IPO.

Stock Appreciation Rights

Stock Appreciation Rights (“SARs”) were issued under the Shareholder Value Plan (“SVP”). Outstanding awards provide a cash incentive based on the increase in the Company’s share price over a three-year period, multiplied by a number of phantom share units. If at the end of a performance cycle the Company’s share price has not increased, then no award payment will be made. The awards issued under the SVP are time-vested cash-settled SARs. The SARs vest at the end of three years and expense is recognized on an accelerated basis over the vesting period. The grant date fair value of the award is determined by using the Black-Scholes option-pricing model. SARs are remeasured, using the Black-Scholes option-pricing model, to an updated fair value at each reporting period until the award is settled. The fair value of the grant on the vesting date is determined based on the 60-trading day weighted average closing price of the Company’s common stock on the NYSE. Compensation cost is trued-up at each reporting period for changes in fair value pro-rated for the portion of the requisite service period rendered.

The final SVP grant vested on December 31, 2020 based on the 60-trading day weighted average closing price of the Company’s common stock on the NYSE.

The following table presents the number of SARs granted, vested, and forfeited for the years ended December 31, 2020 and December 31, 2019:

	Number of Units			Weighted Average Grant-Date Fair Value
Unvested at December 31, 2018		3,416,654		$	3.00
Granted		-		$	-
Vested		(1,547,142	)	$	3.00
Forfeited		(391,884	)	$	3.00
Unvested at December 31, 2019		1,477,628		$	3.00
Granted		-		$	-
Vested		(1,434,836	)	$	3.00
Forfeited		(42,792	)	$	3.00
Unvested at December 31, 2020		-		$	-

Long-Term Growth Units

Long-Term Growth Units awards were issued under the Long-Term Growth Plan. Outstanding awards provide a cash incentive based on performance conditions. The grant date fair value of the award is based on fair value of the Company’s common stock on the grant day. These awards vest at the end of three years and expense is recognized on an accelerated basis over the vesting period subject to the probability of meeting the performance requirements and adjusted for the number of shares expected to be earned. Awards are remeasured to an updated fair value at each reporting period until the award is settled. The updated fair value is based on the 60-trading day weighted average closing price of the Company’s common stock on the NYSE on the last day of the reporting period. Compensation cost is trued-up at each reporting period for changes in fair value and expected shares pro-rated for the portion of the requisite service period rendered.

The following table presents the number of Long-Term Growth Units granted, vested, and forfeited (at target shares) for the years ended December 31, 2020 and December 31, 2019:

	Number of Units			Weighted Average Grant-Date Fair Value
Unvested at December 31, 2018		299,781		$	20.23
Granted		-		$	-
Vested		(137,760	)	$	20.00
Forfeited		(34,584	)	$	20.27
Unvested at December 31, 2019		127,437		$	20.23
Granted		-		$	-
Vested		(125,948	)	$	22.67
Forfeited		(1,489	)	$	22.67
Unvested at December 31, 2020		-		$	-

Restricted Award Units

Restricted Award Units awards were issued under the Restricted Award Plan. Outstanding awards provide a cash incentive based on the fair value of the Company’s common stock on the vesting date. The grant date fair value of the award is based on the fair value of the Company’s common stock on the grant date. These awards vest and expense is recognized on an accelerated basis over the respective vesting periods. Awards are remeasured to an updated fair value at each reporting period until the award is settled. The updated fair value is based on the 60-trading day weighted average closing price of the Company’s common stock on the NYSE on the last day of the reporting period. Compensation cost is trued-up at each reporting period for changes in fair value pro-rated for the portion of the requisite service period rendered.

The following table presents the number of Restricted Award Units granted, vested, and forfeited for the years ended December 31, 2021, December 31, 2020, and December 31, 2019:

	Number of Units			Weighted Average Grant-Date Fair Value
Unvested at December 31, 2018		589,350		$	21.31
Granted		-		$	-
Vested		(281,805	)	$	20.33
Forfeited		(58,101	)	$	21.31
Unvested at December 31, 2019		249,444		$	22.40
Granted		-		$	-
Vested		(234,028	)	$	22.38
Forfeited		(9,017	)	$	22.67
Unvested at December 31, 2020		6,399		$	22.67
Granted		-		$	-
Vested		(6,399	)	$	22.38
Forfeited		-		$	-
Unvested at December 31, 2021		-		$	-

The following table presents the amount paid for cash settled awards, by award type, for the years ended December 31, 2021, December 31, 2020, and December 31, 2019 (in thousands):

	December 31, 2021		December 31, 2020		December 31, 2019
Stock Appreciation Rights	$	15,798	$	26,920	$	5,261
Long-Term Growth		3,778		3,617		1,108
Restricted Award Units		7,067		9,408		5,537
Total	$	26,643	$	39,945	$	11,906

Restricted Stock Units

Restricted Stock Units awards are issued under the Incentive Award Plan and are settled by the issuance of the Company’s common stock. Outstanding awards have been granted based on either service or service and performance conditions. The fair value of the award is based on the closing price of the Company’s common stock on the grant date. Awards vest over three-year periods, either annually or cliff. Expense is recognized on an accelerated basis for awards with service conditions only and on a straight-line basis for awards that include performance conditions. Expense recognition of awards with performance criteria are subject to the probability of meeting the performance conditions and adjusted for the number of shares expected to be earned. Compensation cost for awards with performance conditions are trued-up at each reporting period for changes in the expected shares pro-rated for the portion of the requisite service period rendered.

The following table presents the number of shares of restricted stock units granted (at target shares for awards with performance conditions) for the years ended December 31, 2021, December 31, 2020 and December 31, 2019:

December 31,

2021

December 31,

2020

December 31,

2019

Restricted Stock Units (service condition)

450,675

313,735

270,544

Restricted Stock Units (service and performance condition)

374,535

269,710

327,675

The number of units granted for awards with performance conditions in the above table is based on performance against the target amount. The number of shares ultimately issued, which could be greater or less than target, will be based on achieving specific performance conditions related to the awards.

The following table presents the number and weighted average grant-date fair value of restricted stock units (at target shares for awards with performance conditions) for the years ended December 31, 2021, December 31, 2020 and December 31, 2019:

	Number of Units			Weighted Average Grant-Date Fair Value
Outstanding at December 31, 2018		-		$	-
Granted		598,219			34.06
Vested		(74,704	)		34.02
Forfeited		(16,875	)		34.02
Outstanding at December 31, 2019		506,640		$	34.07
Granted		583,445			37.92
Vested		(104,016	)		34.34
Forfeited		(54,284	)		35.54
Outstanding at December 31, 2020		931,785		$	36.32
Granted		825,210			37.09
Vested		(222,228	)		36.49
Forfeited		(175,524	)		36.39
Outstanding at December 31, 2021		1,359,243		$	36.75

For the year ended December 31, 2021, 188,408 shares of restricted stock units were issued, and 63,482 shares of common stock related to employee statutory income tax withholding were retired. For the year ended December 31, 2020, 78,476 shares of restricted stock units were issued, and 36,921 shares of common stock related to employee statutory income tax withholding were retired. For the year ended December 31, 2019, 74,704 shares of restricted stock units were issued, and 27,962 shares of common stock related to employee statutory income tax withholding were retired.

The following table presents the number of shares of restricted stock outstanding (at target shares for awards with performance conditions) at December 31, 2021, December 31, 2020 and December 31, 2019:

December 31,

2021

December 31,

2020

December 31,

2019

Restricted Stock Units (service condition)

526,349

374,819

189,090

Restricted Stock Units (service and performance condition)

832,894

556,966

317,550

Goodwill

12 Months Ended

Dec. 31, 2021

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill

The following table summarizes the changes in the carrying value of goodwill by reporting segment for the years ended December 31, 2021 and December 31, 2020 (in thousands):

	December 31, 2020		Acquisitions		Foreign Exchange		December 31, 2021
Federal Solutions	$	1,188,882	$	150,235	$	-	$	1,339,117
Critical Infrastructure		73,096		-		477		73,573
Total	$	1,261,978	$	150,235	$	477	$	1,412,690

	December 31, 2019		Acquisitions		Foreign Exchange		December 31, 2020
Federal Solutions	$	975,405	$	213,477	$	-	$	1,188,882
Critical Infrastructure		72,020		-		1,076		73,096
Total	$	1,047,425	$	213,477	$	1,076	$	1,261,978

For the years ended December 31, 2021 and December 31, 2020, the Company performed a quantitative impairment analysis for all reporting units. It was determined that the fair value of all reporting units exceeded their carrying values. No goodwill impairments were identified for the three years ended December 31, 2021, December 31, 2020 and December 31, 2019.

Intangible Assets

12 Months Ended

Dec. 31, 2021

Goodwill And Intangible Assets Disclosure [Abstract]

Intangible Assets

8.	Intangible Assets

The gross amount and accumulated amortization of acquired identifiable intangible assets included in “Intangible assets, net” on the consolidated balance sheets were as follows (in thousands except for years):

	December 31, 2021							December 31, 2020							Weighted Average
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Amortization Period (in years)
Backlog	$	169,455	$	(126,637	)	$	42,818	$	145,855	$	(101,038	)	$	44,817		3
Customer relationships		301,829		(158,405	)		143,424		264,129		(110,450	)		153,679		8
Leases		670		(618	)		52		670		(599	)		71		5
Developed technology		113,939		(96,765	)		17,174		112,039		(68,968	)		43,071		4
Trade name		9,200		(8,444	)		756		8,200		(7,967	)		233		1
Non-compete agreements		5,250		(3,523	)		1,727		4,250		(2,043	)		2,207		3
In process research and development		1,800		-			1,800		1,800		-			1,800	n/a
Other intangibles		275		(205	)		70		275		(195	)		80		10
Total intangible assets	$	602,418	$	(394,597	)	$	207,821	$	537,218	$	(291,260	)	$	245,958

The aggregate amortization expense of intangible assets was $103.2 million, $87.8 million, and $88.3 million for the years ended December 31, 2021, December 31, 2020 and December 31, 2019, respectively.

Estimated amortization expense in each of the next five years and beyond is as follows (in thousands):

	December 31, 2021
2022	$	63,163
2023		49,286
2024		18,799
2025		12,151
2026		9,636
Thereafter		52,986
Total	$	206,021

Property and Equipment, Net

12 Months Ended

Dec. 31, 2021

Property Plant And Equipment [Abstract]

Property and Equipment, Net

9.	Property and Equipment, Net

Property and equipment consisted of the following at December 31, 2021 and December 31, 2020 (in thousands):

	December 31, 2021			December 31, 2020			Useful life (years)
Buildings and leasehold improvements	$	99,543		$	98,151		1-15
Furniture and equipment		86,862			91,036		3-10
Computer systems and equipment		157,633			160,305		3-10
Construction equipment		6,806			8,920		5-7
Construction in progress		12,970			9,202
		363,814			367,614
Accumulated depreciation		(259,618	)		(246,587	)
Property and equipment, net	$	104,196		$	121,027

Depreciation expense of $38.6 million, $39.0 million, and $37.3 million was recorded for the years ended December 31, 2021, December 31, 2020 and December 31, 2019, respectively.

Sale-Leasebacks

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Sale-Leasebacks

10.	Sale-Leasebacks

During fiscal 2011, the Company consummated two sale-leaseback transactions associated with the sale of two office buildings from which the Company recognized a total gain in the consolidated statements of income of $106.7 million and a total deferred gain of $107.8 million. The current and long-term portion of the deferred gain had been recorded in “Accrued expenses and other current liabilities” and “Deferred gain resulting from sale-leaseback transactions” on the consolidated balance sheet as of December 31, 2018, respectively, and was being recognized ratably over the minimum lease terms to which they relate, as an offset to rental expense in “Selling, general and administrative expenses” in the consolidated statements of income. Amortization of the deferred gain was $7.3 million for the year ended December 31, 2018.

The deferred gain balance of $53.3 million as of December 31, 2018 was recognized as an adjustment to beginning accumulated deficit, net of a deferred tax asset adjustment of $0.7 million, during January 2019 in connection with the adoption of the new leasing standard. See “Note 5—Leases”.

Accrued Expenses and Other Current Liabilities

12 Months Ended

Dec. 31, 2021

Payables And Accruals [Abstract]

Accrued Expenses and Other Current Liabilities

11.	Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following at December 31, 2021 and December 31, 2020 (in thousands):

	2021		2020
Salaries and wages	$	90,023	$	72,498
Employee benefits		264,912		293,768
Self-insurance liability		23,737		32,447
Project cost accruals		127,970		164,243
Other accrued expenses		92,447		87,797
Total accrued expenses and other current liabilities	$	599,089	$	650,753

Debt and Credit Facilities

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Debt and Credit Facilities

12.	Debt and Credit Facilities

Debt consisted of the following at December 31, 2021 and December 31, 2020 (in thousands):

	December 31, 2021			December 31, 2020
Short-Term:
Senior notes	$	-		$	50,000
Total Short-Term		-			50,000
Long-Term:
Senior notes		200,000			200,000
Convertible senior notes		400,000			400,000
Debt discount		-			(51,138	)
Debt issuance costs		(8,078	)		(8,864	)
Total long-term		591,922			539,998
Total Debt	$	591,922		$	589,998

Revolving Credit Facility

In June 2021, the Company entered into a $650 million unsecured revolving credit facility (the “Credit Agreement”). The Company incurred $1.9 million of costs in connection with this Credit Agreement. The 2021 Credit Agreement replaced an existing Fifth Amended and Restated Credit Agreement dated as of November 15, 2017. Under the new agreement, the Company’s revolving credit facility was increased from $550 million to $650 million. The credit facility has a five-year maturity, which may be extended up to two times for periods determined by the Company and the applicable extending lenders, and permits the Company to borrow in U.S. dollars, certain specified foreign currencies, and each other currency that may be approved in accordance with the 2021 Facility. The borrowings under the Credit Agreement bear interest at either a eurocurrency rate plus a margin between 1.0% and 1.625% or a base rate (as defined in the Credit Agreement) plus a margin of between 0% and 0.625%. The rates on December 31, 2021 and December 31, 2020 were 1.36% and 1.87%, respectively. Borrowings under this Credit Agreement are guaranteed by certain Company operating subsidiaries. Letters of credit commitments outstanding under this agreement aggregated approximately $44.3 million and $44.9 million at December 31, 2021 and December 31, 2020, respectively, which reduced borrowing limits available to the Company. Interest expense related to the Credit Agreement was $0.7 million, $1.0 million and $6.3 million, for the years ended December 31, 2021, December 31, 2020 and December 31, 2019, respectively. There were no loan amounts outstanding under the Credit Agreement at December 31, 2021.

Term Loan

In January 2019, the Company borrowed $150.0 million under our Term Loan Agreement to partially finance the OGSystems acquisition. On May 10, 2019, the Company used proceeds from its May 8, 2019 IPO to repay the $150.0 million outstanding balance under the Term Loan and this loan is now closed. Interest expense related to the Term Loan was $2.3 million for the year ended December 31, 2019. There were no amounts outstanding in 2020 and 2021.

Private Placement

On July 1, 2014, the Company finalized a private placement whereby the Company raised an aggregate amount of $250.0 million in debt as follows (in thousands):

Tranche	Debt Amount		Maturity Date	Interest Rate
Senior Note, Series A	$	50,000	July 15, 2021		4.44	%
Senior Note, Series B		100,000	July 15, 2024		4.98	%
Senior Note, Series C		60,000	July 15, 2026		5.13	%
Senior Note, Series D		40,000	July 15, 2029		5.38	%

The Company incurred approximately $1.1 million of debt issuance costs in connection with the private placement. On August 10, 2018, the Company finalized an amended and restated intercreditor agreement related to this private placement to more closely align certain covenants and definitions with the terms under the 2017 amended and restated Credit Agreement and incurred approximately $0.5 million of additional issuance costs. These costs are presented as a direct deduction from the debt on the face of the balance sheet. Interest expense related to the Senior Notes was $11.6 million for the year ended December 31, 2021 and $12.4 million for the years ended December 31, 2020 and December 31, 2019. The amortization of debt issuance costs and interest expense is recorded in “Interest expense” on the consolidated statements of income. The Company paid the $50 million Series A tranche of the Senior Notes as scheduled in July 2021. The Company made interest payments related to the Senior Notes of approximately $12.4 million during the years ended December 31, 2021, December 31, 2020 and December 31, 2019. Interest payable of approximately $4.7 million and $5.5 million was recorded in “Accrued expenses and other current liabilities” on the consolidated balance sheets at December 31, 2021 and December 31, 2020, respectively, related to the Senior Notes.

Using a discounted cash flow technique that incorporates a market interest yield curve with adjustments for duration, optionality, and risk profile, the Company estimated the fair value (Level 2) of its senior notes at December 31, 2021 approximates $219.8 million. See “Note 19—Fair Value of Financial Instruments” for the definition of level 2 of the fair value hierarchy below.

Convertible Senior Notes

In August 2020, the Company issued an aggregate $400.0 million of 0.25% Convertible Senior Notes due 2025, including the exercise of a $50.0 million initial purchasers’ option. The Company received proceeds from the issuance and sale of the Convertible Senior Notes of $389.7 million, net of $10.3 million of transaction fees and other third-party offering expenses. The Convertible Senior Notes accrue interest at a rate of 0.25% per annum, payable semi-annually on February 15 and August 15 of each year beginning on February 15, 2021, and will mature on August 15, 2025, unless earlier repurchased, redeemed or converted.

The Convertible Senior Notes are the Company’s senior unsecured obligations and will rank senior in right of payment to any of the Company’s indebtedness that is expressly subordinated in right of payment to the Notes; equal in right of payment to any of the Company’s unsecured indebtedness that is not so subordinated; effectively junior in right of payment to any of the Company’s secured indebtedness,

to the extent of the value of the assets securing such indebtedness; and structurally junior to all indebtedness and other liabilities (including trade payables) of the Company’s subsidiaries

Each $1,000 of principal of the Notes will initially be convertible into 22.2913 shares of our common stock, which is equivalent to an initial conversion price of $44.86 per share, subject to adjustment upon the occurrence of specified events. On or after March 15, 2025 until the close of business on the second scheduled trading day immediately preceding the maturity date of the Convertible Senior Notes, holders may convert all or a portion of their Convertible Senior Notes, regardless of the conditions below.

Prior to the close of business on the business day immediately preceding March 15, 2025, the Notes will be convertible at the option of the holders thereof only under the following circumstances:

•

during any calendar quarter commencing after the calendar quarter ending on December 31, 2020, if the last reported sale price of the Company’s common stock for at least 20 trading days, whether or not consecutive, during a period of 30 consecutive trading days ending on, and including the last trading day of the immediately preceding calendar quarter, is greater than or equal to 130% of the conversion price on each applicable trading day;

•

during the five business day period after any five consecutive trading day period in which, for each trading day of that period, the trading price per $1,000 principal amount of Convertible Senior Notes for such trading day was less than 98% of the product of the last reported sale price of the Company’s common stock and the conversion rate on each such trading day;

•

if the Company calls such Convertible Senior Notes for redemption; or

•

upon the occurrence of specified corporate events described in the Indenture.

The Company may redeem all or any portion of the Convertible Senior Notes for cash, at its option, on or after August 21, 2023 and before the 51^st scheduled trading day immediately before the maturity date at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, but only if the last reported sale price per share of the Company’s common stock exceeds 130% of the conversion price for a specified period of time. In addition, calling any Convertible Senior Note for redemption will constitute a Make-Whole Fundamental Change with respect to that Convertible Senior Note, in which case the conversion rate applicable to the conversion of that Convertible Senior Note will be increased in certain circumstances if it is converted after it is called for redemption.

Upon the occurrence of a fundamental change prior to the maturity date of the Convertible Senior Notes, holders of the Convertible Senior Notes may require the Company to repurchase all or a portion of the Convertible Senior Notes for cash at a price equal to 100% of the principal amount of the Convertible Senior Notes to be repurchased, plus any accrued and unpaid interest to, but excluding, the fundamental change repurchase date.

Upon conversion, the Company may settle the Convertible Senior Notes for cash, shares of the Company’s common stock, or a combination thereof, at the Company’s option. If the Company satisfies its conversion obligation solely in cash or through payment and delivery of a combination of cash and shares of the Company’s common stock, the amount of cash and shares of common stock due upon conversion will be based on a daily conversion value calculated on a proportionate basis for each trading day in a 50-trading day observation period.

Under existing GAAP at the time of issuance during 2020, convertible debt instruments that may be settled in cash on conversion were required to be separated into liability and equity components in a manner that reflects the issuer’s non-convertible debt borrowing rate. The carrying amount of the liability component was based on the fair value of a similar instrument that does not contain an equity conversion option. The carrying amount allocated to the equity component, which was recognized as a debt discount, represents the difference between the proceeds from the issuance of the notes and the fair value of the liability component of the notes. Based on this debt to equity ratio, debt issuance costs are then allocated to the liability and equity components in a similar manner. Accordingly, at issuance the Company allocated $336.1 million to the debt liability and $53.6 million to additional paid-in capital. The difference between the principal amount of the Convertible Senior Notes and the liability component, inclusive of issuance costs, represents the debt discount, which the Company amortized to interest expense over the term of the Convertible Senior Notes using an effective interest rate of 3.25%. The Company recognized interest expense of $3.0 million and $4.4 million for the years ended December 31, 2021 and December 31, 2020, respectively. As of December 31, 2021, the carrying value of the Notes was $400.0 million.

In the first quarter of 2021, the Company early adopted ASU 2020-06. The Company used the modified retrospective method which resulted in a reduction in non-cash interest expense and reclassification of the equity component of the convertible senior notes of $55.0 million and equity component of the debt issuance costs of $1.4 million to liabilities on the consolidated balance sheet. The Company also adjusted the carrying amount of the convertible senior notes to what it would have been if the Company had applied ASU 2020-06 from the inception of the Notes and recorded the offset of the carrying amount adjustment of $3.7 million in retained earnings on January 1, 2021.

The Credit Agreement and private placement includes various covenants, including restrictions on indebtedness, liens, acquisitions, investments or dispositions, payment of dividends and maintenance of certain financial ratios and conditions. The Company was in compliance with these covenants at December 31, 2021 and December 31, 2020.

The Company also has in place several secondary bank credit lines for issuing letters of credit, principally for foreign contracts, to support performance and completion guarantees. Letters of credit commitments outstanding under these bank lines aggregated approximately $223.0 million and $193.1 million at December 31, 2021 and December 31, 2020, respectively.

Convertible Note Hedge and Warrant

Transactions

In connection with the sale of the Convertible Senior Notes, the Company purchased a bond hedge designed to mitigate the potential dilution from the conversion of the Convertible Senior Notes. Under the five-year term of the bond hedge, upon a conversion of the bonds, the Company will receive the number of shares of common stock equal to the remaining common stock deliverable upon conversion of the Convertible Senior Notes if the conversion value exceeds the principal amount of the Notes. The aggregate number of shares that the Company could be obligated to issue upon conversion of the Convertible Senior Notes is approximately 8.9 million shares. The cost of the convertible note hedge transactions was $55.0 million.

The cost of the convertible note hedge was partially offset by the Company’s sale of warrants to acquire approximately 8.9 million shares of the Company’s common stock. The warrants were initially exercisable at a price of at least $66.46 per share and are subject to customary adjustments upon the occurrence of certain events, such as the payment of dividends. The Company received $13.8 million in cash proceeds from the sales of these warrants.

The bond hedge and warrant transactions effectively increased the conversion price associated with the Convertible Senior Notes during the term of these transactions from 35%, or $44.86, to 100%, or

$66.46, at their issuance, thereby reducing the dilutive economic effect to shareholders upon actual conversion.

The bond hedges and warrants are indexed to, and potentially settled in, shares of the Company’s common stock. The net cost of $41.2 million for the purchase of the bond hedges and sale of the warrants was recorded as a reduction to additional paid-in capital in the consolidated balance sheets.

At issuance, the Company recorded a deferred tax liability of $16.2 million related to the Convertible Senior Notes debt discount and the capitalized debt issuance costs. The Company also recorded a deferred tax asset of $16.5 million related to the convertible note hedge transactions and the tax basis of the capitalized debt issuance costs through additional paid-in capital. The deferred tax liability and deferred tax asset were included net in “Deferred tax assets” on the consolidated balance sheets. Upon adoption of ASU2020-06, the Company reversed the deferred tax liability of $13.9 million that the Company had recorded at issuance related to the Convertible Senior Note debt discount and recorded an additional deferred tax liability of $0.4 million related to the capitalized debt issuance costs. In addition, the Company recorded a $0.9 million adjustment to the deferred tax asset through retained earnings related to the tax effect of book accretion recorded in 2020 and reversed upon adoption.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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-Name Accounting Standards Codification
-Topic 470
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-Paragraph 1B
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+ Details

Other Long-term Liabilities

12 Months Ended

Dec. 31, 2021

Other Liabilities Disclosure [Abstract]

Other Long-term Liabilities

13.	Other Long-term Liabilities

Other long-term liabilities consisted of the following at December 31, 2021 and December 31, 2020 (in thousands):

	2021		2020
Self-insurance liability	$	72,424	$	92,778
Reserve for uncertain tax positions		19,318		16,951
Finance lease obligations		2,422		1,733
Other long-term liabilities		668		20,838
Total other long-term liabilities	$	94,832	$	132,300

Refer to “Note 14—Income Taxes” for further discussion of the Company’s reconciliation of the beginning and ending balances of uncertain tax positions.

Income Taxes

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Income Taxes

14.	Income Taxes

Historically, the Company had elected to be taxed under the provisions of Subchapter “S” of the Internal Revenue Code for federal tax purposes. As a result, income was not subject to U.S. federal income taxes or state income taxes in those states where the “S” Corporation status is recognized. Therefore, previously, no provision or liability for federal or state income tax had been provided in the consolidated financial statements except for those states where the “S” Corporation status was not recognized, or where states imposed a tax on “S” Corporations. The provision for income tax in the historical periods prior to the IPO consists of these state taxes and taxes from certain foreign jurisdictions where the Company is subject to tax.

In connection with the Company’s IPO on May 8, 2019, the “S” Corporation status was terminated, and the Company is now treated as a “C” Corporation under the Internal Revenue Code. The termination of the “S” Corporation status was treated as a change in tax status under Accounting Standards Codification 740, Income Taxes. These rules require that the deferred tax effects of a change in tax status to be recorded to income from continuing operations on the date the “S” Corporation status terminates. The termination of the “S” Corporation election has had a material impact on the Company’s results of operations, financial condition, and cash flows as reflected in the December 31, 2021, December 31, 2020 and December 31, 2019 consolidated financial statements. Income tax expense was impacted in 2019 primarily due to a tax benefit recorded for the revaluation of our deferred tax assets and liabilities as a result of our conversion from “S” Corporation to a “C” Corporation. The effective tax rate has increased,

and net income has decreased as compared to the Company’s “S” Corporation tax years, since the Company is now subject to both U.S. federal and state corporate income taxes on its earnings.

Treasury and the Internal Revenue Service on December 28, 2021 released final regulations that significantly restrict the ability to credit certain foreign taxes. While the 2021 Final Regulations are effective on March 7, 2022, certain provisions are applicable to periods beginning before that date. The final regulations provide additional guidance on a wide range of topics, including the definition of a foreign income tax, the disallowance of a credit or deduction for certain foreign income taxes, the allocation and apportionment of foreign income taxes, when foreign income taxes accrue, and related rules under the Internal Revenue Code. The final regulations generally follow the proposed regulations, published on November 12, 2020, but include notable changes. Among other things, the final regulations overhaul the requirements which a foreign tax must satisfy to be claimed as a credit. The most significant change is that a foreign tax must satisfy a new "attribution requirement" for the tax to be creditable under Internal Revenue Code Sections 901 or 903. Under the attribution requirement, foreign taxes are not generally creditable unless the foreign tax law requires a sufficient nexus between the foreign country and the taxpayer’s activities or investments. The Company believes these regulations may restrict the amount of future foreign tax credits the Company is eligible to claim on its US Federal income tax return and as such, may have an impact on the Company’s future effective tax rate.

The following table presents the components of our income from continuing operations before income taxes (in thousands):

	2021		2020		2019
United States earnings	$	24,687	$	64,810	$	6,762
Foreign earnings		87,901		96,603		60,480
	$	112,588	$	161,413	$	67,242

The income tax expense (benefit) attributable to income from continuing operations for the years ended December 31, 2021, December 31, 2020 and December 31, 2019 consists of the following (in thousands):

	2021			2020			2019
Current
Federal	$	653		$	15,663		$	22,865
State		6,830			9,024			10,428
Foreign		19,621			16,534			20,159
Total current income tax expense		27,104			41,221			53,452
Deferred
Federal		1,624			(186	)		(97,299	)
State		(1,263	)		(1,785	)		(27,432	)
Foreign		(3,829	)		3,242			1,393
Total deferred tax expense (benefit)		(3,468	)		1,271			(123,338	)
Total income tax expense (benefit)	$	23,636		$	42,492		$	(69,886	)

Income tax expense (benefit) was different from the amount computed by applying the United States federal statutory rate to pre-tax income from continuing operations as a result of the following (in thousands):

	2021					2020					2019
Income before income tax expense (benefit)	$	112,588				$	161,413				$	67,242
Tax at federal statutory tax rate		23,644		21.0	%		33,897		21.0	%		14,121		21.0	%
S- corporation exclusion		—		0.0	%		—		0.0	%		(4,875	)	(7.0	)%
State taxes, net of federal tax benefit		4,192		3.7	%		4,838		3.0	%		3,223		5.0	%
Change in tax status		—		0.0	%		3,897		2.4	%		(93,878	)	(140.0	)%
Change in valuation allowance		3,865		3.4	%		6,850		4.2	%		4,502		7.0	%
Change in uncertain tax positions		(80	)	-0.1	%		883		0.6	%		4,118		6.0	%
Foreign tax rate differential		(388	)	-0.3	%		(128	)	-0.1	%		4,886		7.0	%
Foreign tax credits		(5,151	)	-4.6	%		(47	)	0.0	%		(1,313	)	(2.0	)%
Transaction costs		540		0.5	%		61		0.0	%		1,052		1.0	%
Noncontrolling interests		(5,225	)	-4.6	%		(4,280	)	-2.6	%		(2,282	)	(3.0	)%
Federal research credits		(2,538	)	-2.2	%		(2,206	)	-1.4	%		—		(—	)%
Executive compensation		2,352		2.1	%		80		0.0	%		—		(—	)%
Other, net		2,425		2.1	%		(1,353	)	-0.9	%		560		1.1	%
Total income tax expense (benefit)	$	23,636		21.0	%	$	42,492		26.3	%	$	(69,886	)	(103.9	)%

The effective tax rate in 2021 decreased to 21.0% from 26.3% in 2020. The change in the effective tax rate was due primarily to an increase in untaxed income attributable to noncontrolling interests, release of a valuation allowance on foreign tax credits utilized on the 2020 federal return, a change in jurisdictional earnings, and a release of uncertain tax positions, partially offset by a write down of a foreign tax receivable and an increase in executive compensation subject to IRC Section 162(m) limitations.

The effective rate in 2020 increased to 26.3% from (104%) in 2019. The change in the effective rate was due primarily to the nonrecurring tax benefit items included in 2019 for the remeasurement of its U.S. deferred tax assets and liabilities due to the change in tax status from an S Corporation to a C Corporation.

The effective tax rate for the year ended December 31, 2021 differs from the federal statutory tax rate primarily due to state income taxes, a recorded valuation allowance on foreign tax credit carryovers, and a write down of a foreign tax receivable and an increase in executive compensation subject to IRC Section 162(m) limitations, partially offset by benefits related to untaxed income attributable to noncontrolling interests, release of uncertain tax positions, and federal research tax credits.

The effective tax rate for the year ended December 31, 2020 differs from the federal statutory tax rate primarily due to state income taxes and a recorded allowance on foreign tax credit carryovers, partially offset by benefits related to untaxed income attributable to noncontrolling interests, and federal research tax credits.

The components of deferred tax assets and liabilities consists of the following at December 31, 2021 and December 31, 2020 (in thousands):

	2021			2020
Deferred tax assets
Project and non-project reserves	$	24,668		$	33,824
Employee compensation and benefits		60,397			61,260
Revenue and cost recognition		28,930			25,312
Insurance accruals		16,661			17,724
Net operating losses		11,589			9,674
Lease liabilities		54,926			62,994
Tax credit carryforwards		21,818			15,566
Other		3,323			3,296
Valuation allowance		(27,348	)		(23,878	)
Total deferred tax assets		194,964			205,772
Deferred tax liabilities
Intangible assets		(16,542	)		(15,620	)
Right of use assets		(48,993	)		(56,099	)
Other		(6,436	)		(16,138	)
Total deferred tax liabilities		(71,971	)		(87,857	)
Net deferred tax asset	$	122,993		$	117,915

The Company assesses the realizability of its deferred tax assets each reporting period through an analysis of potential sources of taxable income, including prior year taxable income available to absorb a carryback of tax losses, reversals of existing taxable temporary differences, tax planning strategies, and forecasts of taxable income. The Company considers all negative and positive evidence, including the weight of the evidence, to determine if a valuation allowance against deferred tax assets is required. A valuation allowance is recorded against deferred tax assets to reflect the amount of deferred tax assets that is determined to be more-likely-than-not to be realized.

The Company is not asserting that any of the earnings of the foreign subsidiaries will be permanently reinvested. Therefore, the Company has recorded a deferred tax liability for the undistributed earnings net of applicable foreign tax credits.

As of December 31, 2021, and December 31, 2020, the Company’s valuation allowance against deferred tax assets was $27.3 million and $23.9 million, respectively. The Company has recorded a valuation allowance against certain tax attributes that the Company has determined are not more-likely-than-not to be realized, including certain foreign net operating loss carryforwards, foreign tax credit carryforwards, and capital loss carryforwards. From December 31, 2020 to December 31, 2021, the Company’s valuation allowance increased by $3.4 million. Of this increase, $4.1 million relates to deferred tax assets recorded for foreign tax credit carryforwards offset in part by a decrease in valuation allowance related to net operating loss carryforwards. The valuation allowance is recorded because the Company does not expect to have sufficient foreign source income to support the foreign tax credit carryforwards before they expire.

As of December 31, 2021, the Company has NOLs of $1.7 million, $42.9 million, and $38.9 million for U.S. Federal, U.S. states and foreign jurisdictions, respectively. The utilization of the U.S. federal and U.S. state NOLs are subject to certain annual limitations. Of these amounts, $0.4 million, $32.6 million and $24.0 million in U.S. Federal, U.S. states and foreign jurisdictions, respectively, do not expire. The remaining amounts of NOLs in U.S. states and in foreign jurisdictions will expire if not used between 2022 and 2042.

As of December 31, 2021, the Company has foreign tax credit carryforwards of $19.6 million. The Company has provided a valuation allowance of $19.6 million as the Company considers that these credits will not be realized. These foreign tax credits start expiring in the year 2029.

A reconciliation of the beginning and ending balances of unrecognized tax benefits is as follows (in thousands):

	2021			2020			2019
Beginning of year	$	16,395		$	15,526		$	7,845
Increases—current year tax positions		6,203			950			7,531
Increases—prior year tax positions		1,512			1,951			1,379
Decreases—prior year tax positions		(2,929	)		(1,366	)		(991	)
Settlements		—			(666	)		(124	)
Lapse of statute of limitations		—			—			(114	)
End of year	$	21,181		$	16,395		$	15,526

At December 31, 2021, and December 31, 2020, there are $19.5 million and $15.8 million of unrecognized tax benefits that if recognized would affect the Company’s effective tax rate.

The Company recognizes interest and penalties related to unrecognized tax benefits as part of its income tax expense. During the years ended December 31, 2021, December 31, 2020, and December 31, 2019, the Company recognized approximately $(0.9) million, $1.1 million, and $1.3 million in interest and penalties, respectively, in the consolidated statements of income. The total amount of interest and penalties accrued in the consolidated balance sheets was $3.5 million, $4.4 million, and $3.4 million at December 31, 2021, December 31, 2020, and December 31, 2019, respectively.

The Company conducts business globally and, as a result, the Company or one or more of its subsidiaries file income tax returns in the U.S. federal jurisdiction, various U.S. states, and foreign jurisdictions. The Company is subject to examination by tax authorities in several jurisdictions, including major jurisdictions such as Canada, Mexico, Qatar, Saudi Arabia and the United States. As of December 31, 2021, the Company’s U.S. federal income tax returns for tax years 2018 and forward remain subject to examination. U.S. states and foreign income tax returns remain subject to examination based on varying local statutes of limitations.

The Company estimates that, within 12 months, it may decrease its uncertain tax positions by approximately $1.9 million as a result of concluding various tax audits and closing tax years.

Although the Company believes its reserves for its tax positions are reasonable, the final outcome of tax audits could be significantly different, both favorably and unfavorably. It is reasonably possible that these audits may conclude in the next 12 months and that the unrecognized tax benefits the Company has recorded in relation to these tax years may change compared to the liabilities recorded for these periods. However, it is not currently possible to estimate the amount, if any, of such change.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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+ Details

Contingencies

12 Months Ended

Dec. 31, 2021

Commitments And Contingencies Disclosure [Abstract]

Contingencies

15.	Contingencies

The Company is subject to certain lawsuits, claims and assessments that arise in the ordinary course of business. Additionally, the Company has been named as a defendant in lawsuits alleging personal injuries as a result of contact with asbestos products at various project sites. Management believes that any significant costs relating to these claims will be reimbursed by applicable insurance and, although there can be no assurance that these matters will be resolved favorably, management believes that the ultimate resolution of any of these claims will not have a material adverse effect on our consolidated financial position, results of operations, or cash flows. A liability is recorded when it is both probable that a loss has been incurred and the amount of loss or range of loss can be reasonably estimated. When using a range of loss estimate, the Company records the liability using the low end of the range unless some amount within the range of loss appears at that time to be a better estimate than any other amount in the range. The Company records a corresponding receivable for costs covered

under its insurance policies. Management judgment is required to determine the outcome and the estimated amount of a loss related to such matters. Management believes that there are no claims or assessments outstanding which would materially affect the consolidated results of operations or the Company’s financial position.

In September 2015, a former Parsons employee filed an action in the United States District Court for the Northern District of Alabama against us as a qui tam relator on behalf of the United States (the “Relator”) alleging violation of the False Claims Act. The United States government did not intervene in this matter as it is allowed to do so under the statute. The Company filed a motion to dismiss the lawsuit on the grounds that the Relator did not meet the applicable statute of limitations. The District Court granted the motion to dismiss. The Relator’s attorney appealed the decision to the United States Court of Appeals of the Eleventh Circuit, which ultimately ruled in favor of the Relator, and the Company petitioned the United States Supreme Court to review the decision. The Supreme Court reviewed the decision and accepted the position of the Relator. The case was thus remanded to the United States District Court for the Northern District of Alabama. The defendants, including Parsons, will file appropriate pleadings opposing the allegations. At this time, the Company is unable to determine the probability of the outcome of the litigation or determine a potential range of loss, if any.

Federal government contracts are subject to audits, which are performed for the most part by the Defense Contract Audit Agency (“DCAA”). Audits by the DCAA and other agencies consist of reviews of our overhead rates, operating systems and cost proposals to ensure that we account for such costs in accordance with the Cost Accounting Standards (“CAS”). If the DCAA determines we have not accounted for such costs in accordance with the CAS, the DCAA may disallow these costs. The disallowance of such costs may result in a reduction of revenue and additional liability for the Company. Historically, the Company has not experienced any material disallowed costs as a result of government audits. However, the Company can provide no assurance that the DCAA or other government audits will not result in material disallowances for incurred costs in the future. All audits of costs incurred on work performed through 2013 have been closed, and years thereafter remain open.

Although there can be no assurance that these matters will be resolved favorably, management believes that their ultimate resolution will not have a material adverse impact on the Company’s consolidated financial position, results of operations, or cash flows.

Retirement and Other Benefit Plans

12 Months Ended

Dec. 31, 2021

Compensation And Retirement Disclosure [Abstract]

Retirement and Other Benefit Plans

16.	Retirement and Other Benefit Plans

The Company’s principal retirement benefit plan is the ESOP, a stock bonus plan, established in 1975 to cover eligible employees of the Company and certain affiliated companies. Contributions of treasury stock to ESOP are made annually in amounts determined by the Company’s board of directors and are held in trust for the sole benefit of the participants. Shares allocated to a participant’s account are fully vested after three years of credited service, or in the event(s) of reaching age 65, death or disability while an active employee of the Company. As of December 31, 2021, the total shares of the Company’s common stock outstanding were 103,659,731, of which 70,328,237 were held by the ESOP. As of December 31, 2020, the total shares of the Company’s common stock outstanding were 102,360,662, of which 76,641,312 were held by the ESOP.

A participant’s interest in their ESOP account is redeemable upon certain events, including retirement, death, termination due to permanent disability, a severe financial hardship following termination of employment, certain conflicts of interest following termination of employment, or the exercise of diversification rights. Distributions from the ESOP of participants’ interests are made in the Company’s common stock based on quoted prices of a share of the Company’s common stock on the NYSE. A participant will be able to sell such shares of common stock in the market, subject to any requirements of the federal securities laws.

Total ESOP contribution expense was approximately $54.9 million, $55.3 million and $55.5 million for the years ended December 31, 2021, December 31, 2020 and December 31, 2019,

respectively, and is recorded in “Direct costs of contracts” and “Selling, general and administrative expense” in the consolidated statements of income.

On April 3, 2019, the board of directors of the Company declared a cash dividend to the Company’s sole existing shareholder at that time, the ESOP, in the amount of $2.00 per share, or $52.1 million in the aggregate (the “IPO Dividend”). The IPO Dividend was paid on May 10, 2019. On April 15, 2019, the board of directors of the Company declared the Stock Dividend in a ratio of two shares of common stock for every one share of common stock then held by the Company’s shareholder. The record date of the Stock Dividend was May 7, 2019, the day immediately prior to the consummation of the Company’s IPO on May 8, 2019, and the payment date of the Stock Dividend was May 8, 2019. Purchasers of the Company’s common stock in the Company’s public offering were not entitled to receive any portion of the Stock Dividend. During the years ended December 31, 2021 and December 31, 2020, the Company did not declare any dividends.

The Company also maintains a defined contribution plan (the “401(k) Plan”). Substantially all domestic employees are entitled to participate in the 401(k) Plan, subject to certain minimum requirements. The Company’s contributions to the 401(k) Plan for the years ended December 31, 2021, December 31, 2020 and December 31, 2019 amounted to $25.5 million, $24.4 million, and $25.2 million, respectively.

As part of an acquisition in 2014, the Company acquired a defined contribution pension plan, a defined benefit pension plan, and supplemental retirement plan. For the defined contribution pension plan, the Company contributes a base amount plus an additional amount based upon a predetermined formula. At December 31, 2021 and December 31, 2020, the defined benefit pension plan was in a net asset position of $2.6 million and $2.0 million, respectively, which is recorded in “Other noncurrent assets” on the consolidated balance sheets.

Investments in and Advances to Joint Ventures

12 Months Ended

Dec. 31, 2021

Equity Method Investments And Joint Ventures [Abstract]

Investments in and Advances to Joint Ventures

17.	Investments in and Advances to Joint Ventures

The Company participates in joint ventures to bid, negotiate and complete specific projects. The Company is required to consolidate these joint ventures if it holds the majority voting interest or if the Company meets the criteria under the consolidation model, as described below.

The Company performs an analysis to determine whether its variable interests give the Company a controlling financial interest in a VIE for which the Company is the primary beneficiary and should, therefore, be consolidated. Such analysis requires the Company to assess whether it has the power to direct the activities of the VIE and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE.

The Company analyzed all of its joint ventures and classified them into two groups: (1) joint ventures that must be consolidated because they are either not VIEs and the Company holds the majority voting interest, or because they are VIEs and the Company is the primary beneficiary; and (2) joint ventures that do not need to be consolidated because they are either not VIEs and the Company holds a minority voting interest, or because they are VIEs and the Company is not the primary beneficiary.

Many of the Company’s joint venture agreements provide for capital calls to fund operations, as necessary; however, such funding is infrequent and is not anticipated to be material.

Letters of credit outstanding described in ‘Note 12—Debt and Credit Facilities” that relate to project ventures are approximately $50.3 million and $59.3 million at December 31, 2021 and December 31, 2020, respectively.

In the table below, aggregated financial information relating to the Company’s joint ventures is provided because their nature, risk and reward characteristics are similar. None of the Company’s current

joint ventures that meet the characteristics of a VIE are individually significant to the consolidated financial statements.

Consolidated Joint Ventures

The following represents financial information for consolidated joint ventures included in the consolidated financial statements as of and for the years ended December 31, 2021, December 31, 2020 and December 31, 2019 (in thousands):

	2021		2020
Current assets	$	246,342	$	292,407
Noncurrent assets		2,180		2,990
Total assets		248,522		295,397
Current liabilities		175,637		201,270
Total liabilities		175,637		201,270
Total joint venture equity	$	72,885	$	94,127

	2021		2020		2019
Revenue	$	402,078	$	450,530	$	473,486
Costs		351,670		408,319		435,947
Net income	$	50,408	$	42,211	$	37,539
Net income attributable to noncontrolling interests	$	24,880	$	20,380	$	16,594

The assets of the consolidated joint ventures are restricted for use only by the particular joint venture and are not available for the Company’s general operations.

Unconsolidated Joint Ventures

The Company accounts for its unconsolidated joint ventures using the equity method of accounting. Under this method, the Company recognizes its proportionate share of the net earnings of these joint ventures as “Equity in earnings (loss) of unconsolidated joint ventures” in the consolidated statements of income. The Company’s maximum exposure to loss as a result of its investments in unconsolidated VIEs is typically limited to the aggregate of the carrying value of the investment and future funding commitments.

The following represents the financial information of the Company’s unconsolidated joint ventures as presented in their unaudited financial statements as of and for the years ended December 31, 2021 and December 31, 2020 (in thousands):

	2021		2020
Current assets	$	1,620,735	$	774,646
Noncurrent assets		531,261		585,802
Total assets		2,151,996		1,360,448
Current liabilities		1,088,985		703,287
Noncurrent liabilities		669,911		517,697
Total liabilities		1,758,896		1,220,984
Total joint venture equity	$	393,100	$	139,464
Investments in and advances to unconsolidated joint ventures	$	110,688	$	68,975

	2021		2020		2019
Revenue	$	2,709,305	$	1,830,802	$	2,081,341
Costs		2,536,403		1,709,933		1,903,582
Net income	$	172,902	$	120,869	$	177,759
Equity in earnings of unconsolidated joint ventures	$	36,862	$	30,059	$	41,721

The Company had net contributions to its unconsolidated joint ventures for the year ended December 31, 2021 of $13.2 million and received net distributions from its unconsolidated joint ventures of $30.5 million and $38.9 million for the years ended December 31, 2020 and December 31, 2019, respectively.

For the years ended December 31, 2021 and December 31, 2020, the Company recorded a $15.6 million and $15.5 million write-down, respectively, on an unconsolidated joint venture in the Critical Infrastructure segment as a result of changes in estimates made by the managing partner. For the year ended December 31, 2021, this write-down decreased operating and net income by $15.6 million and $11.6 million, respectively, and decreased diluted earnings per share by $0.10. For the year ended December 31, 2020, this write-down decreased operating and net income by $15.5 million and $11.5 million, respectively, and decreased diluted earnings per share by $0.11.

Related Party Transactions

12 Months Ended

Dec. 31, 2021

Related Party Transactions

18.	Related Party Transactions

The Company often provides services to unconsolidated joint ventures and revenues include amounts related to recovering overhead costs for these services. For the years ended December 31, 2021, December 31, 2020 and December 31, 2019, revenues included $204.7 million, $172.2 million, and $157.3 million, respectively, related to services the Company provided to unconsolidated joint ventures. For the years ended December 31, 2021, December 31, 2020 and December 31, 2019, the Company incurred approximately $155.5 million, $133.8 million and $119.1 million, respectively, of reimbursable costs. Amounts included in the consolidated balance sheets related to services the Company provided to unconsolidated joint ventures are as follows (in thousands):

	2021		2020
Accounts receivable	$	30,246	$	37,544
Contract assets		16,069		8,889
Contract liabilities		10,605		5,720

Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

19.	Fair Value of Financial Instruments

The authoritative guidance on fair value measurement defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (referred to as an “exit price”). At December 31, 2021 and December 31, 2020, the Company’s financial instruments include cash, cash equivalents, accounts receivable, accounts payable, and other liabilities. The fair values of these financial instruments approximate their carrying values due to their short-term maturities.

Investments measured at fair value are based on one or more of the following three valuation techniques:

•

Market approach—Prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities;

•

Cost approach—Amount that would be required to replace the service capacity of an asset (i.e., replacement cost); and

•

Income approach—Techniques to convert future amounts to a single present amount based on market expectations (including present value techniques, option-pricing models and lattice models).

In addition, the guidance establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted market prices in active markets for identical assets and liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are:


Level 1	Unadjusted quoted prices in active markets that are accessible at the measurement date for identical assets and liabilities;

Level 2	Pricing inputs that include quoted prices for similar assets and liabilities in active markets and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the derivative instrument; and

Level 3	Prices or valuations that require inputs that are both significant to the fair value measurements and unobservable.

The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Company believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.

The following table sets forth assets associated with the pension plan in “Note 16—Retirement and Other Benefits Plans” that are accounted for at fair value by Level within the fair value hierarchy.

Fair value as of December 31, 2021 (in thousands):

	Level 1		Level 2		Level 3		Total
Mutual funds	$	2,951	$	—	$	—	$	2,951
Fixed income		—		9,813		—		9,813
Cash and cash equivalents		489		—		—		489
	$	3,440	$	9,813	$	—	$	13,253

Fair value as of December 31, 2020 (in thousands):

	Level 1		Level 2		Level 3		Total
Mutual funds	$	2,847	$	—	$	—		2,847
Fixed income		—		10,615		—		10,615
Cash and cash equivalents		571		—		—		571
		3,418		10,615		—		14,033

As described in “Note 16—Retirement and Other Benefits Plans”, the Company acquired a defined contribution pension plan, a defined benefit pension plan, and supplemental retirement plans. At December 31, 2021 and December 31, 2020, the Company measured the mutual funds held within the defined benefit pension plan at fair value using unadjusted quoted prices in active markets that are accessible for identical assets. The Company measured the fixed income securities using market bid and ask prices. The inputs that are significant to the valuation of fixed income securities are generally observable, and therefore have been classified as Level 2.

With respect to equity-based compensation, we estimate the fair value of cash settled awards based on the 60-trading day weighted average closing price of the Company’s common stock on the NYSE at the end of each reporting period and on the vesting date. For restricted stock units containing service conditions or service and performance conditions, fair value is based on the closing stock price of a share of the Company’s common stock on the NYSE on the grant date.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Earnings Per Share

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Earnings Per Share

20.	Earnings Per Share

The tables below reconcile the denominator and numerator used to compute basic earnings per share (“EPS”) to the denominator and numerator used to compute diluted EPS for the years ended December 31, 2021, December 31, 2020 and December 31, 2019. Basic EPS is computed using the weighted average number of shares outstanding during the period and income available to shareholders. Diluted EPS is computed similar to basic EPS, except the income available to shareholders is adjusted to add back interest expense, after tax, related to the Convertible Senior Note, and the weighted average number of shares outstanding is adjusted to reflect the dilutive effects of equity-based awards and shares underlying the Convertible Senior Note.

Convertible Senior Note dilution impact is calculated using the if-converted method which was required upon adoption of ASU 2020-06. As a result, the Company elected to adopt the if-converted method during the third quarter of 2020. In connection with the offerings of our note, the Company entered into a convertible note hedge and warrants (see Note 12 Debt and Credit Facilities); however, the convertible note hedge is not considered when calculating dilutive shares given its impact is anti-dilutive. The impact of the bond hedge would offset the dilutive impact of the shares underlying the Convertible Senior Note. The warrants have a strike price above our average share price during the period and are out of the money and not included in the tables below.

Dilutive potential common shares include, when circumstances require, shares the Company could be obligated to issue from its Convertible Senior Notes and warrants (see Note 12 for further discussion) and stock-based awards. Shares to be provided to the Company from its bond hedge purchased concurrently with the issuance of Convertible Senior Notes are anti-dilutive and are not included in its diluted shares. Anti-dilutive stock-based awards excluded from the calculation of earnings per share for the years ended December 31, 2021, December 31, 2020, and December 31, 2019 were 11,986, 5,327, and 0, respectively. In addition, the convertible senior notes were anti-dilutive and excluded for 2020.

The weighted average number of shares used to compute basic and diluted EPS were (in thousands):

	2021		2020		2019
Basic weighted average number of shares outstanding		102,544		100,848		92,419
Stock-based awards		666		357		334
Convertible senior notes		8,917		-		-
Diluted weighted average number of shares outstanding		112,127		101,205		92,753

The net income available to shareholders to compute basic and diluted EPS were (in thousands):

	2021		2020		2019
Net income attributable to Parsons Corporation		64,072		98,541		120,534
Convertible senior notes if-converted method interest adjustment		2,130		-		-
Diluted net income attributable to Parsons Corporation		66,202		98,541		120,534

Share Repurchases

In August 2021, the Company’s Board of Directors authorized a stock repurchase program to repurchase up to $100.0 million of shares of Common Stock. Repurchases under this stock repurchase program commenced on August 12, 2021. Any and all shares of Common Stock purchased by the Company pursuant to the program shall be retired upon their acquisition and shall not become treasury shares but instead shall resume the status of authorized but unissued shares of Common Stock. The table below presents information on this repurchase program:

	2021
Total shares repurchased		618,533
Total shares retired		618,533
Average price paid per share	$	35.08

As of December 31, 2021, the Company has $78.3 million remaining under the stock repurchase program.

Segments Information

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Segments Information

21.	Segments Information

The Company operates in two reportable segments: Federal Solutions and Critical Infrastructure.

The Federal Solutions segment provides advanced technical solutions to the U.S. government, delivering timely, cost-effective hardware, software and services for mission-critical projects. The segment provides advanced technologies, supporting national security missions in cybersecurity, missile defense, and military facility modernization, logistics support, hazardous material remediation and engineering services.

The Critical Infrastructure segment provides integrated engineering and management services for complex physical and digital infrastructure around the globe. The Critical Infrastructure segment is a technology innovator focused on next generation digital systems and complex structures. Industry leading capabilities in engineering and project management allow the Company to deliver significant value to customers by employing cutting-edge technologies, improving timelines and reducing costs.

The Company defines its reportable segments based on the way the chief operating decision maker (“CODM”), currently its Chief Executive Officer, evaluates the performance of each segment and manages the operations of the Company for purposes of allocating resources among the segments. The CODM evaluates segment operating performance using segment Revenue and segment Adjusted EBITDA attributable to Parsons Corporation.

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

	2021		2020		2019
Revenues:
Federal Solutions	$	1,888,050	$	1,911,910	$	1,887,907
Critical Infrastructure		1,772,721		2,007,036		2,066,905
Total revenues	$	3,660,771	$	3,918,946	$	3,954,812

The Company defines Adjusted EBITDA attributable to Parsons Corporation as Adjusted EBITDA excluding Adjusted EBITDA attributable to noncontrolling interests. The Company defines Adjusted EBITDA as net income (loss) attributable to Parsons Corporation, adjusted to include net income (loss) attributable to noncontrolling interests and to exclude interest expense (net of interest income), provision for income taxes, depreciation and amortization and certain other items that are not considered in the evaluation of ongoing operating performance. These other items include net income (loss) attributable to noncontrolling interests, asset impairment charges, income and expense recognized on litigation matters, expenses incurred in connection with acquisitions and other non-recurring transaction costs and expenses related to our prior restructuring. The following table summarizes business segment Adjusted EBITDA and a reconciliation to net income attributable to Parsons Corporation for the periods presented (in thousands):

	2021			2020			2019
Adjusted EBITDA attributable to Parsons Corporation
Federal Solutions	$	162,733		$	167,340		$	169,100
Critical Infrastructure		121,700			154,528			138,851
Adjusted EBITDA attributable to Parsons Corporation		284,433			321,868			307,951
Adjusted EBITDA attributable to noncontrolling interests		25,287			20,753			17,096
Depreciation and amortization		(144,209	)		(127,980	)		(125,700	)
Interest expense, net		(17,301	)		(20,169	)		(22,429	)
Income tax (expense) benefit		(23,636	)		(42,492	)		69,886
Equity-based compensation (a)		(19,601	)		(9,785	)		(65,744	)
Transaction-related costs (b)		(11,965	)		(19,922	)		(34,353	)
Restructuring (c)		(736	)		(2,193	)		(3,424	)
Other (d)		(3,320	)		(1,159	)		(6,155	)
Net income including noncontrolling interests	$	88,952		$	118,921		$	137,128
Net income attributable to noncontrolling interests		(24,880	)		(20,380	)		(16,594	)
Net income attributable to Parsons Corporation	$	64,072		$	98,541		$	120,534

(a)

Reflects equity-based compensation costs primarily related to cash-settled awards and stock-based awards through the incentive Award Plan. See “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in this Annual Report on Form 10-K for a further discussion of these awards.

(b)	Reflects costs incurred in connection with acquisitions, IPO, and other non-recurring transaction costs, primarily fees paid for professional services and employee retention.

(c)	Reflects costs associated with and related to our corporate restructuring initiatives.

(d)	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.

Asset information by segment is not a key measure of performance used by the CODM.

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

	2021		2020		2019
Revenues:
North America	$	3,028,760	$	3,215,874	$	3,249,054
Middle East		610,655		684,353		689,067
Rest of World		21,356		18,719		16,691
Total revenues	$	3,660,771	$	3,918,946	$	3,954,812
Property and equipment, net
North America	$	100,674	$	116,460	$	117,606
Middle East		3,522		4,567		5,145
Total property and equipment, net	$	104,196	$	121,027	$	122,751

North America revenue includes $2.7 billion, $3.0 billion and $3.0 billion of United States revenue for the years ended December 31, 2021, December 31, 2020 and December 31, 2019, respectively. North America property and equipment, net includes $95.0 million, $109.6 million and $109.9 million of property and equipment, net in the United States at December 31, 2021, December 31, 2020 and December 31, 2019, respectively.

The geographic location of revenue is determined by the location of the customer. The prior reporting of revenue by geographic location has been conformed to the current presentation.

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

	2021		2020		2019
Revenue:
Defense & Intelligence	$	1,313,731	$	1,251,304	$	1,219,639
Engineered Systems		574,319		660,606		668,268
Federal Solutions revenues		1,888,050		1,911,910		1,887,907
Mobility Solutions		1,410,113		1,575,539		1,647,690
Connected Communities		362,608		431,497		419,215
Critical Infrastructure revenues		1,772,721		2,007,036		2,066,905
Total revenues	$	3,660,771	$	3,918,946	$	3,954,812

Effective July 1, 2021, the Company made changes to its Federal Solutions business units by consolidating Space & Geospatial Solutions, Cyber & Intelligence, and Missile Defense & C5ISR into a new Defense and Intelligence business unit. The prior year information in the table above has been reclassified to conform to the business line changes.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

Subsequent Events

12 Months Ended

Dec. 31, 2021

Subsequent Events [Abstract]

Subsequent Events

22.	Subsequent Events

None.

Schedule II - Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2021

Valuation And Qualifying Accounts [Abstract]

Schedule II - Valuation and Qualifying Accounts

PARSONS CORPORATION AND SUBSIDIARIES

Schedule II—Valuation and Qualifying Accounts

Description	Balance at beginning of period		Additions		Deductions			Other and foreign exchange impact			Balance at end of period
2021
Allowance for doubtful accounts		4,001		8		(54	)		-			3,955
Valuation allowance on deferred tax assets		23,878		4,873		(878	)		(525	)		27,348
2020
Allowance for doubtful accounts		5,497		1,201		(2,697	)		-			4,001
Valuation allowance on deferred tax assets		17,359		7,655		(596	)		(540	)		23,878
2019
Allowance for doubtful accounts (1)		4,722		775		-			-			5,497
Valuation allowance on deferred tax assets		6,668		10,817		(32	)		(94	)		17,359

(1)	In connection with the adoption of ASU 2016-13, we have modified the historical presentation of gross receivables and the allowance for doubtful accounts to reflect only expected credit losses in the allowance in conformity with the current period presentation.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2021

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Basis of Presentation and Principles of Consolidation

Use of Estimates

property and equipment and intangible assets; valuation of deferred income tax assets and uncertain tax positions, among others.

Share Repurchases

In accordance with ASC 606, the Company follows the five-step process in ASC 606 to recognize revenue:

Identify the contract

Identify performance obligations

Determine the transaction price

Allocate the transaction price

Recognize revenue

The Company enters into the following types of contracts with its customers:

require advance customer payment. The Company’s contracts generally do not include a significant financing component.

Cash Equivalents

Restricted Cash and Investments

Restricted cash and investments held in trust accounts represent collateral for certain incentive programs.

Accounts Receivable, Net

Accounts receivable includes billed and unbilled amounts and are recognized in the period when the Company’s rights to receive consideration are unconditional.

Contract Assets and Contract Liabilities

Concentration of Credit Risk

In order to mitigate the credit risk associated with customers, the Company performs periodic credit evaluations of its customers’ financial condition.

Property and Equipment

eventual disposition are less than their carrying amount, in which case the asset is written down to its fair value.

Leases

LeasesThe Company has operating and finance leases for corporate and project office spaces, vehicles, heavy machinery and office equipment. Our leases have remaining lease terms of one year to eight years, some of which may include options to extend the leases for up to five years, and some of which may include options to terminate the leases after the third year.

Equity-Based Compensation

Business Combinations

The Company adjusts the preliminary purchase price allocation, as necessary, during the measurement period of up to one year after the acquisition closing date as the Company obtains more

information as to facts and circumstances existing at the acquisition date. Acquisition-related costs are recognized separate from the acquisition and are expensed as incurred.

Consolidation Of Joint Venture And Variable Interest Entity

Consolidation of Joint Ventures and Variable Interest Entities

Goodwill

The Company performs an additional review at year end to address whether a triggering event has occurred that would require an interim impairment test in the interim period.

Intangible Assets

Income Taxes

Foreign Currency Translation

currency and the currency in which a foreign currency transaction is denominated are recognized as “Other income (expense), net” in the Company’s consolidated statements of income.

Self-Insurance

Recently Adopted Accounting Pronouncements

first quarter of 2019 and has determined there to be no impact on its financial statements and related disclosures.

Basis of Presentation and Principles of Consolidation (Policies)

12 Months Ended

Dec. 31, 2021

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Leases

Acquisitions (Tables)

12 Months Ended

Dec. 31, 2021

BlackHorse Solutions, Inc.

Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed on Purchase Price Allocation

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed as of the date of acquisition (in thousands):

	Amount
Cash and cash equivalents	$	15,428
Accounts receivable		3,351
Contract assets		5,979
Prepaid expenses and other current assets		937
Property and equipment		2,239
Right of use assets, operating leases		6,157
Goodwill		143,830
Intangible assets		64,000
Accounts payable		(2,326	)
Accrued expenses and other current liabilities		(17,190	)
Contract liabilities		(320	)
Short-term lease liabilities, operating leases		(1,011	)
Long-term lease liabilities, operating leases		(5,146	)
Deferred tax liabilities		(10,660	)
Other long-term liabilities		(235	)
Net assets acquired	$	205,033

Schedule of Intangible Assets Value on Purchase Price

Of the total purchase price, the following values were assigned to intangible assets (in thousands, except for years):

	Gross Carrying Amount		Amortization Period
			(in years)
Customer relationships	$	39,000	16
Backlog		22,000	3
Trade name		1,000	2
Developed technologies		1,000	3
Non-compete agreements		1,000	3

Schedule of Supplemental Pro Forma Information

Supplemental information on an unaudited pro forma basis, as if the acquisition closed as of the beginning of the fiscal year ended December 31, 2020 as follows (in thousands):

	2021		2020
	(unaudited)		(unaudited)
Pro forma Revenue	$	3,699,227	$	3,966,809
Pro forma Net Income including noncontrolling interests		93,592		108,008

Braxton Science & Technology Group

Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed on Purchase Price Allocation

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed based on the purchase price allocation as of the date of acquisition (in thousands):

	Amount
Cash and cash equivalents	$	7,006
Accounts receivable		18,163
Contract assets		8,350
Prepaid expenses and other current assets		3,036
Property and equipment		5,114
Right of use assets, operating leases		10,788
Goodwill		212,185
Intangible assets		74,950
Accounts payable		(7,464	)
Accrued expenses and other current liabilities		(9,845	)
Contract liabilities		(300	)
Short-term lease liabilities, operating leases		(1,915	)
Long-term lease liabilities, operating leases		(8,873	)
Deferred tax liabilities		(1,694	)
Net assets acquired	$	309,501

Schedule of Intangible Assets Value on Purchase Price

Of the total purchase price, the following values were assigned to intangible assets (in thousands, except for years):

Schedule of Supplemental Pro Forma Information

Supplemental information of unaudited pro forma operating results assuming the Braxton acquisition had been consummated as of the beginning of 2019 (in thousands) is as follows:

	2020		2019
	(unaudited)		(unaudited)
Pro forma Revenue	$	4,039,420	$	4,042,810
Pro forma Net Income including noncontrolling interests		125,298		126,076

QRC Technologies

Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed on Purchase Price Allocation

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed based on the purchase price allocation as of the date of acquisition (in thousands):

	Amount
Cash and cash equivalents	$	5,925
Accounts receivable		5,587
Prepaid expenses and other current assets		5,727
Property and equipment		1,205
Right of use assets, operating leases		5,228
Goodwill		125,091
Intangible assets		76,200
Accounts payable		(1,567	)
Accrued expenses and other current liabilities		(4,025	)
Short-term lease liabilities, operating leases		(545	)
Long-term lease liabilities, operating leases		(4,683	)
Net assets acquired	$	214,143

Schedule of Intangible Assets Value on Purchase Price

Of the total purchase price, the following values were assigned to intangible assets (in thousands, except for years):

	Gross Carrying Amount		Amortization Period
			(in years)
Customer relationships	$	49,800		12
Developed technologies		21,800	3 to 5
In-process research and development		1,800	3 to 5
Non-compete agreements		1,200		4
Trade name		800		2
Backlog		800		1

Schedule of Supplemental Pro Forma Information

	2019
	(unaudited)
Pro forma Revenue	$	3,976,361
Pro forma Net Income including noncontrolling interests		138,692

O G Systems

Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed on Purchase Price Allocation

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed based on the purchase price allocation as of the date of acquisition (in thousands):

	Amount
Cash and cash equivalents	$	5,772
Accounts receivable		9,904
Contract assets		9,747
Prepaid expenses and other current assets		4,307
Property and equipment		4,085
Right of use assets, operating leases		8,826
Goodwill		183,540
Intangible assets		92,300
Other noncurrent assets		10
Accounts payable		(5,450	)
Accrued expenses and other current liabilities		(7,147	)
Contract liabilities		(1,300	)
Short-term lease liabilities, operating leases		(805	)
Income tax payable		(1,178	)
Deferred tax liabilities		(1,195	)
Long-term lease liabilities, operating leases		(8,021	)
Other long-term liabilities		(1,015	)
Net assets acquired	$	292,380

Schedule of Intangible Assets Value on Purchase Price

Of the total purchase price, the following values were assigned to intangible assets (in thousands, except for years):

	Gross Carrying Amount		Amortization Period
			(in years)
Customer relationships	$	57,100		5
Backlog		27,700		3
Trade name		3,800		2
Non-compete agreements		2,400		3
Developed technologies	$	1,300		3

Schedule of Supplemental Pro Forma Information

	2019
	(unaudited)
Pro forma Revenue	$	3,956,767
Pro forma Net Income including noncontrolling interests		134,046

Contracts with Customers (Tables)

12 Months Ended

Dec. 31, 2021

Revenue From Contract With Customer [Abstract]

Summary of Disaggregation of Revenue

	December 31, 2021		December 31, 2020		December 31, 2019
Cost plus	$	1,674,276	$	1,631,140	$	1,705,832
Time-and-Materials		1,021,568		1,034,596		1,074,037
Fixed price		964,927		1,253,210		1,174,943
Total	$	3,660,771	$	3,918,946	$	3,954,812

Summary of Contract Assets and Contract Liabilities

Contract assets and contract liabilities balances at December 31, 2021 and December 31, 2020 were as follows (in thousands):

	December 31, 2021		December 31, 2020		$ change			% change
Contract assets	$	579,216	$	576,568	$	2,648			0.5	%
Contract liabilities		171,671		201,864		(30,193	)		-15.0	%
Net contract assets (liabilities) (1)	$	407,545	$	374,704	$	32,841			8.8	%

(1)

Summary of Changes in Contract Assets and Contract Liabilities

Certain changes in contract assets and contract liabilities consisted of the following:

	December 31, 2021		December 31, 2020
Acquired contract assets	$	5,979	$	8,350
Acquired contract liabilities		320		300

Summary of Changes in Revenue

		2021				2020				2019
Revenue impact, net		$	(30,828	)		$	8,875			$	12,166

Summary of Accounts Receivable, Net

Accounts receivable, net consisted of the following as of December 31, 2021 and December 31, 2020 (in thousands):

	2021			2020
Billed	$	434,776		$	512,357
Unbilled		167,490			190,222
Total accounts receivable, gross		602,266			702,579
Allowance for doubtful accounts		(3,955	)		(4,001	)
Total accounts receivable, net	$	598,311		$	698,578

Summary of Remaining Unsatisfied Performance Obligations Expect to Satisfy

The Company expects to satisfy its RUPO as of December 31, 2021 over the following periods (in thousands):

Period RUPO Will Be Satisfied	Within One Year		Within One to Two Years		Thereafter
Federal Solutions	$	1,436,578	$	705,773	$	422,666
Critical Infrastructure		1,451,596		868,205		875,202
Total	$	2,888,174	$	1,573,978	$	1,297,868

Leases (Tables)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Summary of Lease Costs

The components of lease costs for the years ended December 31, 2021 and December 31, 2020 are as follows (in thousands):

	2021			2020
Operating lease cost	$	61,800		$	66,159
Short-term lease cost		11,261			15,624
Amortization of right-of-use assets		2,128			1,496
Interest on lease liabilities		106			146
Sublease income		(3,049	)		(3,731	)
Total lease cost	$	72,246		$	79,694

Schedule of Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases for the years ended December 31, 2021 and December 31, 2020 is as follows (in thousands):

	2021		2020
Operating cash flows for operating leases	$	68,563	$	62,117
Operating cash flows for financing activities		107		147
Financing cash flows for finance leases		2,082		1,551
Right-of-use assets obtained in exchange for new operating lease liabilities		18,931		23,949
Right-of-use assets obtained in exchange for new finance lease liabilities	$	2,003	$	1,018

Schedule of Supplemental Balance Sheet and Other Information Related to Leases

Supplemental balance sheet and other information related to leases as of December 31, 2021 and December 31, 2020 is as follows (in thousands):

	2021			2020
Operating Leases:
Right-of-use assets	$	182,672		$	210,398
Lease liabilities:
Current	$	55,902		$	54,133
Long-term		148,893			182,467
Total operating lease liabilities	$	204,795		$	236,600
Finance Leases:
Other noncurrent assets	$	4,389		$	3,363
Accrued expenses and other current liabilities	$	1,822		$	1,461
Other long-term liabilities	$	2,422		$	1,733

Weighted Average Remaining Lease Term:
Operating leases	4.3 Years			5 years
Finance leases	2.9 years			3 years
Weighted Average Discount Rate:
Operating leases		3.5	%		3.7	%
Finance leases		2.1	%		3.8	%

Schedule of Maturity Analysis of Future Undiscounted Cash Flows

A maturity analysis of the future undiscounted cash flows associated with the Company’s operating and finance lease liabilities as of December 31, 2021 is as follows (in thousands):

	Operating Leases			Finance Leases
2022	$	61,449		$	1,885
2023		52,893			1,211
2024		41,973			803
2025		30,965			440
2026		17,326			10
Thereafter		14,540			-
Total lease payments		219,146			4,349
Less: imputed interest		(14,351	)		(105	)
Total present value of lease liabilities	$	204,795		$	4,244

Employee Stock Purchase and Equity-Based Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2021

Summary of Stock Issuance Activity

The following table presents stock issuance activity for the years ended December 31, 2021 and December 31, 2020 (in thousands):

	2021		2020
Purchase price paid for shares sold	$	5,556	$	4,386
Number of shares sold		161		127

Schedule of Amount Paid for Cash Settled Awards by Award Type

The following table presents the amount paid for cash settled awards, by award type, for the years ended December 31, 2021, December 31, 2020, and December 31, 2019 (in thousands):

	December 31, 2021		December 31, 2020		December 31, 2019
Stock Appreciation Rights	$	15,798	$	26,920	$	5,261
Long-Term Growth		3,778		3,617		1,108
Restricted Award Units		7,067		9,408		5,537
Total	$	26,643	$	39,945	$	11,906

Summary of Restricted Stock Outstanding

December 31,

2021

December 31,

2020

December 31,

2019

Restricted Stock Units (service condition)

526,349

374,819

189,090

Restricted Stock Units (service and performance condition)

832,894

556,966

317,550

Stock Appreciation Rights

Summary of Stock Appreciation Right Activity

The following table presents the number of SARs granted, vested, and forfeited for the years ended December 31, 2020 and December 31, 2019:

	Number of Units			Weighted Average Grant-Date Fair Value
Unvested at December 31, 2018		3,416,654		$	3.00
Granted		-		$	-
Vested		(1,547,142	)	$	3.00
Forfeited		(391,884	)	$	3.00
Unvested at December 31, 2019		1,477,628		$	3.00
Granted		-		$	-
Vested		(1,434,836	)	$	3.00
Forfeited		(42,792	)	$	3.00
Unvested at December 31, 2020		-		$	-

Long-Term Growth Units

Schedule of Unvested Share Activity

The following table presents the number of Long-Term Growth Units granted, vested, and forfeited (at target shares) for the years ended December 31, 2020 and December 31, 2019:

	Number of Units			Weighted Average Grant-Date Fair Value
Unvested at December 31, 2018		299,781		$	20.23
Granted		-		$	-
Vested		(137,760	)	$	20.00
Forfeited		(34,584	)	$	20.27
Unvested at December 31, 2019		127,437		$	20.23
Granted		-		$	-
Vested		(125,948	)	$	22.67
Forfeited		(1,489	)	$	22.67
Unvested at December 31, 2020		-		$	-

Restricted Award Units

Summary of Restricted Stock Unit Activity

The following table presents the number of Restricted Award Units granted, vested, and forfeited for the years ended December 31, 2021, December 31, 2020, and December 31, 2019:

	Number of Units			Weighted Average Grant-Date Fair Value
Unvested at December 31, 2018		589,350		$	21.31
Granted		-		$	-
Vested		(281,805	)	$	20.33
Forfeited		(58,101	)	$	21.31
Unvested at December 31, 2019		249,444		$	22.40
Granted		-		$	-
Vested		(234,028	)	$	22.38
Forfeited		(9,017	)	$	22.67
Unvested at December 31, 2020		6,399		$	22.67
Granted		-		$	-
Vested		(6,399	)	$	22.38
Forfeited		-		$	-
Unvested at December 31, 2021		-		$	-

Restricted Stock Units

Summary of Restricted Stock Unit Activity

	Number of Units			Weighted Average Grant-Date Fair Value
Outstanding at December 31, 2018		-		$	-
Granted		598,219			34.06
Vested		(74,704	)		34.02
Forfeited		(16,875	)		34.02
Outstanding at December 31, 2019		506,640		$	34.07
Granted		583,445			37.92
Vested		(104,016	)		34.34
Forfeited		(54,284	)		35.54
Outstanding at December 31, 2020		931,785		$	36.32
Granted		825,210			37.09
Vested		(222,228	)		36.49
Forfeited		(175,524	)		36.39
Outstanding at December 31, 2021		1,359,243		$	36.75

Summary of Restricted Stock Outstanding

December 31,

2021

December 31,

2020

December 31,

2019

Restricted Stock Units (service condition)

450,675

313,735

270,544

Restricted Stock Units (service and performance condition)

374,535

269,710

327,675

Goodwill (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill And Intangible Assets Disclosure [Abstract]

Summary of Changes in Carrying Value of Goodwill by Reporting Segment

The following table summarizes the changes in the carrying value of goodwill by reporting segment for the years ended December 31, 2021 and December 31, 2020 (in thousands):

	December 31, 2020		Acquisitions		Foreign Exchange		December 31, 2021
Federal Solutions	$	1,188,882	$	150,235	$	-	$	1,339,117
Critical Infrastructure		73,096		-		477		73,573
Total	$	1,261,978	$	150,235	$	477	$	1,412,690

	December 31, 2019		Acquisitions		Foreign Exchange		December 31, 2020
Federal Solutions	$	975,405	$	213,477	$	-	$	1,188,882
Critical Infrastructure		72,020		-		1,076		73,096
Total	$	1,047,425	$	213,477	$	1,076	$	1,261,978

Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill And Intangible Assets Disclosure [Abstract]

Schedule of Gross Amount and Accumulated Amortization of Intangible Assets

	December 31, 2021							December 31, 2020							Weighted Average
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Amortization Period (in years)
Backlog	$	169,455	$	(126,637	)	$	42,818	$	145,855	$	(101,038	)	$	44,817		3
Customer relationships		301,829		(158,405	)		143,424		264,129		(110,450	)		153,679		8
Leases		670		(618	)		52		670		(599	)		71		5
Developed technology		113,939		(96,765	)		17,174		112,039		(68,968	)		43,071		4
Trade name		9,200		(8,444	)		756		8,200		(7,967	)		233		1
Non-compete agreements		5,250		(3,523	)		1,727		4,250		(2,043	)		2,207		3
In process research and development		1,800		-			1,800		1,800		-			1,800	n/a
Other intangibles		275		(205	)		70		275		(195	)		80		10
Total intangible assets	$	602,418	$	(394,597	)	$	207,821	$	537,218	$	(291,260	)	$	245,958

Schedule of Estimated Amortization Expense

Estimated amortization expense in each of the next five years and beyond is as follows (in thousands):

	December 31, 2021
2022	$	63,163
2023		49,286
2024		18,799
2025		12,151
2026		9,636
Thereafter		52,986
Total	$	206,021

Property and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2021

Property Plant And Equipment [Abstract]

Schedule of Property and Equipment, Net

Property and equipment consisted of the following at December 31, 2021 and December 31, 2020 (in thousands):

	December 31, 2021			December 31, 2020			Useful life (years)
Buildings and leasehold improvements	$	99,543		$	98,151		1-15
Furniture and equipment		86,862			91,036		3-10
Computer systems and equipment		157,633			160,305		3-10
Construction equipment		6,806			8,920		5-7
Construction in progress		12,970			9,202
		363,814			367,614
Accumulated depreciation		(259,618	)		(246,587	)
Property and equipment, net	$	104,196		$	121,027

Accrued Expenses and Other Current Liabilities (Tables)

12 Months Ended

Dec. 31, 2021

Payables And Accruals [Abstract]

Schedule of Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following at December 31, 2021 and December 31, 2020 (in thousands):

	2021		2020
Salaries and wages	$	90,023	$	72,498
Employee benefits		264,912		293,768
Self-insurance liability		23,737		32,447
Project cost accruals		127,970		164,243
Other accrued expenses		92,447		87,797
Total accrued expenses and other current liabilities	$	599,089	$	650,753

Debt and Credit Facilities (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Schedule of Debt

Debt consisted of the following at December 31, 2021 and December 31, 2020 (in thousands):

	December 31, 2021			December 31, 2020
Short-Term:
Senior notes	$	-		$	50,000
Total Short-Term		-			50,000
Long-Term:
Senior notes		200,000			200,000
Convertible senior notes		400,000			400,000
Debt discount		-			(51,138	)
Debt issuance costs		(8,078	)		(8,864	)
Total long-term		591,922			539,998
Total Debt	$	591,922		$	589,998

Schedule of Aggregate Amount of Debt

On July 1, 2014, the Company finalized a private placement whereby the Company raised an aggregate amount of $250.0 million in debt as follows (in thousands):

Tranche	Debt Amount		Maturity Date	Interest Rate
Senior Note, Series A	$	50,000	July 15, 2021		4.44	%
Senior Note, Series B		100,000	July 15, 2024		4.98	%
Senior Note, Series C		60,000	July 15, 2026		5.13	%
Senior Note, Series D		40,000	July 15, 2029		5.38	%

Other Long-term Liabilities (Tables)

12 Months Ended

Dec. 31, 2021

Other Liabilities Disclosure [Abstract]

Schedule of Other Long-term Liabilities

Other long-term liabilities consisted of the following at December 31, 2021 and December 31, 2020 (in thousands):

	2021		2020
Self-insurance liability	$	72,424	$	92,778
Reserve for uncertain tax positions		19,318		16,951
Finance lease obligations		2,422		1,733
Other long-term liabilities		668		20,838
Total other long-term liabilities	$	94,832	$	132,300

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Components of Income from Continuing Operations Before Income Taxes

The following table presents the components of our income from continuing operations before income taxes (in thousands):

	2021		2020		2019
United States earnings	$	24,687	$	64,810	$	6,762
Foreign earnings		87,901		96,603		60,480
	$	112,588	$	161,413	$	67,242

Schedule of Income Tax Expense (Benefit) Attributable to Income from Continuing Operations

	2021			2020			2019
Current
Federal	$	653		$	15,663		$	22,865
State		6,830			9,024			10,428
Foreign		19,621			16,534			20,159
Total current income tax expense		27,104			41,221			53,452
Deferred
Federal		1,624			(186	)		(97,299	)
State		(1,263	)		(1,785	)		(27,432	)
Foreign		(3,829	)		3,242			1,393
Total deferred tax expense (benefit)		(3,468	)		1,271			(123,338	)
Total income tax expense (benefit)	$	23,636		$	42,492		$	(69,886	)

Computation of Income Tax Expense (Benefit)

	2021					2020					2019
Income before income tax expense (benefit)	$	112,588				$	161,413				$	67,242
Tax at federal statutory tax rate		23,644		21.0	%		33,897		21.0	%		14,121		21.0	%
S- corporation exclusion		—		0.0	%		—		0.0	%		(4,875	)	(7.0	)%
State taxes, net of federal tax benefit		4,192		3.7	%		4,838		3.0	%		3,223		5.0	%
Change in tax status		—		0.0	%		3,897		2.4	%		(93,878	)	(140.0	)%
Change in valuation allowance		3,865		3.4	%		6,850		4.2	%		4,502		7.0	%
Change in uncertain tax positions		(80	)	-0.1	%		883		0.6	%		4,118		6.0	%
Foreign tax rate differential		(388	)	-0.3	%		(128	)	-0.1	%		4,886		7.0	%
Foreign tax credits		(5,151	)	-4.6	%		(47	)	0.0	%		(1,313	)	(2.0	)%
Transaction costs		540		0.5	%		61		0.0	%		1,052		1.0	%
Noncontrolling interests		(5,225	)	-4.6	%		(4,280	)	-2.6	%		(2,282	)	(3.0	)%
Federal research credits		(2,538	)	-2.2	%		(2,206	)	-1.4	%		—		(—	)%
Executive compensation		2,352		2.1	%		80		0.0	%		—		(—	)%
Other, net		2,425		2.1	%		(1,353	)	-0.9	%		560		1.1	%
Total income tax expense (benefit)	$	23,636		21.0	%	$	42,492		26.3	%	$	(69,886	)	(103.9	)%

Components of Deferred Tax Assets and Liabilities

The components of deferred tax assets and liabilities consists of the following at December 31, 2021 and December 31, 2020 (in thousands):

	2021			2020
Deferred tax assets
Project and non-project reserves	$	24,668		$	33,824
Employee compensation and benefits		60,397			61,260
Revenue and cost recognition		28,930			25,312
Insurance accruals		16,661			17,724
Net operating losses		11,589			9,674
Lease liabilities		54,926			62,994
Tax credit carryforwards		21,818			15,566
Other		3,323			3,296
Valuation allowance		(27,348	)		(23,878	)
Total deferred tax assets		194,964			205,772
Deferred tax liabilities
Intangible assets		(16,542	)		(15,620	)
Right of use assets		(48,993	)		(56,099	)
Other		(6,436	)		(16,138	)
Total deferred tax liabilities		(71,971	)		(87,857	)
Net deferred tax asset	$	122,993		$	117,915

Reconciliation of Beginning and Ending Balances of Unrecognized Tax Benefits

A reconciliation of the beginning and ending balances of unrecognized tax benefits is as follows (in thousands):

	2021			2020			2019
Beginning of year	$	16,395		$	15,526		$	7,845
Increases—current year tax positions		6,203			950			7,531
Increases—prior year tax positions		1,512			1,951			1,379
Decreases—prior year tax positions		(2,929	)		(1,366	)		(991	)
Settlements		—			(666	)		(124	)
Lapse of statute of limitations		—			—			(114	)
End of year	$	21,181		$	16,395		$	15,526

Investments in and Advances to Joint Ventures (Tables)

12 Months Ended

Dec. 31, 2021

Equity Method Investments And Joint Ventures [Abstract]

Schedule of Financial Information of Consolidated Joint Ventures

	2021		2020
Current assets	$	246,342	$	292,407
Noncurrent assets		2,180		2,990
Total assets		248,522		295,397
Current liabilities		175,637		201,270
Total liabilities		175,637		201,270
Total joint venture equity	$	72,885	$	94,127

	2021		2020		2019
Revenue	$	402,078	$	450,530	$	473,486
Costs		351,670		408,319		435,947
Net income	$	50,408	$	42,211	$	37,539
Net income attributable to noncontrolling interests	$	24,880	$	20,380	$	16,594

Summary of Financial Information for Unconsolidated Joint Ventures

	2021		2020
Current assets	$	1,620,735	$	774,646
Noncurrent assets		531,261		585,802
Total assets		2,151,996		1,360,448
Current liabilities		1,088,985		703,287
Noncurrent liabilities		669,911		517,697
Total liabilities		1,758,896		1,220,984
Total joint venture equity	$	393,100	$	139,464
Investments in and advances to unconsolidated joint ventures	$	110,688	$	68,975

	2021		2020		2019
Revenue	$	2,709,305	$	1,830,802	$	2,081,341
Costs		2,536,403		1,709,933		1,903,582
Net income	$	172,902	$	120,869	$	177,759
Equity in earnings of unconsolidated joint ventures	$	36,862	$	30,059	$	41,721

Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Consolidated Balance Sheet Related to Services Provided to Unconsolidated Joint Ventures

Amounts included in the consolidated balance sheets related to services the Company provided to unconsolidated joint ventures are as follows (in thousands):

	2021		2020
Accounts receivable	$	30,246	$	37,544
Contract assets		16,069		8,889
Contract liabilities		10,605		5,720

Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Summary of Fair Value Assets Associated with Pension Plan

Fair value as of December 31, 2021 (in thousands):

	Level 1		Level 2		Level 3		Total
Mutual funds	$	2,951	$	—	$	—	$	2,951
Fixed income		—		9,813		—		9,813
Cash and cash equivalents		489		—		—		489
	$	3,440	$	9,813	$	—	$	13,253

Fair value as of December 31, 2020 (in thousands):

	Level 1		Level 2		Level 3		Total
Mutual funds	$	2,847	$	—	$	—		2,847
Fixed income		—		10,615		—		10,615
Cash and cash equivalents		571		—		—		571
		3,418		10,615		—		14,033

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Schedule of Weighted Average Number of Shares Used To Compute Basic and Diluted EPS

The weighted average number of shares used to compute basic and diluted EPS were (in thousands):

	2021		2020		2019
Basic weighted average number of shares outstanding		102,544		100,848		92,419
Stock-based awards		666		357		334
Convertible senior notes		8,917		-		-
Diluted weighted average number of shares outstanding		112,127		101,205		92,753

Net Income Available to Shareholders to Compute Basic and Diluted EPS

The net income available to shareholders to compute basic and diluted EPS were (in thousands):

	2021		2020		2019
Net income attributable to Parsons Corporation		64,072		98,541		120,534
Convertible senior notes if-converted method interest adjustment		2,130		-		-
Diluted net income attributable to Parsons Corporation		66,202		98,541		120,534

Schedule of Repurchase Program

The table below presents information on this repurchase program:

	2021
Total shares repurchased		618,533
Total shares retired		618,533
Average price paid per share	$	35.08

Segments Information (Tables)

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Summary of Business Segment Information

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

	2021		2020		2019
Revenues:
Federal Solutions	$	1,888,050	$	1,911,910	$	1,887,907
Critical Infrastructure		1,772,721		2,007,036		2,066,905
Total revenues	$	3,660,771	$	3,918,946	$	3,954,812

Summary of Adjusted EBITDA Business Segment Information

The following table summarizes business segment Adjusted EBITDA and a reconciliation to net income attributable to Parsons Corporation for the periods presented (in thousands):

	2021			2020			2019
Adjusted EBITDA attributable to Parsons Corporation
Federal Solutions	$	162,733		$	167,340		$	169,100
Critical Infrastructure		121,700			154,528			138,851
Adjusted EBITDA attributable to Parsons Corporation		284,433			321,868			307,951
Adjusted EBITDA attributable to noncontrolling interests		25,287			20,753			17,096
Depreciation and amortization		(144,209	)		(127,980	)		(125,700	)
Interest expense, net		(17,301	)		(20,169	)		(22,429	)
Income tax (expense) benefit		(23,636	)		(42,492	)		69,886
Equity-based compensation (a)		(19,601	)		(9,785	)		(65,744	)
Transaction-related costs (b)		(11,965	)		(19,922	)		(34,353	)
Restructuring (c)		(736	)		(2,193	)		(3,424	)
Other (d)		(3,320	)		(1,159	)		(6,155	)
Net income including noncontrolling interests	$	88,952		$	118,921		$	137,128
Net income attributable to noncontrolling interests		(24,880	)		(20,380	)		(16,594	)
Net income attributable to Parsons Corporation	$	64,072		$	98,541		$	120,534

(a)

(b)	Reflects costs incurred in connection with acquisitions, IPO, and other non-recurring transaction costs, primarily fees paid for professional services and employee retention.

(c)	Reflects costs associated with and related to our corporate restructuring initiatives.

(d)	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 table presents revenues and property and equipment, net by geographic area (in thousands):

	2021		2020		2019
Revenues:
North America	$	3,028,760	$	3,215,874	$	3,249,054
Middle East		610,655		684,353		689,067
Rest of World		21,356		18,719		16,691
Total revenues	$	3,660,771	$	3,918,946	$	3,954,812
Property and equipment, net
North America	$	100,674	$	116,460	$	117,606
Middle East		3,522		4,567		5,145
Total property and equipment, net	$	104,196	$	121,027	$	122,751

Summary of Revenues by Business Lines

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

	2021		2020		2019
Revenue:
Defense & Intelligence	$	1,313,731	$	1,251,304	$	1,219,639
Engineered Systems		574,319		660,606		668,268
Federal Solutions revenues		1,888,050		1,911,910		1,887,907
Mobility Solutions		1,410,113		1,575,539		1,647,690
Connected Communities		362,608		431,497		419,215
Critical Infrastructure revenues		1,772,721		2,007,036		2,066,905
Total revenues	$	3,660,771	$	3,918,946	$	3,954,812

Description of Operations - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	May 31, 2019	May 14, 2019	May 08, 2019	Apr. 15, 2019
Description Of Operations Disclosure [Line Items]
Funds to dividend through public offering		$ 52.1
Repayment on term loan through public offering		$ 150.0
Common stock dividend ratio				200.00%
Dividends declared date				Apr. 15, 2019
Dividends payment, date				May 08, 2019
Dividends record date				May 07, 2019
IPO \| Common Stock
Description Of Operations Disclosure [Line Items]
Common stock shares sold			18,518,500
Common stock sold per share			$ 27.00
Share price		$ 25.515
Proceeds from IPO		$ 536.9
Underwriters \| Common Stock
Description Of Operations Disclosure [Line Items]
Purchase of additional shares upon exercise of options	2,777,775
Underwriting discount per share		$ 1.485
Proceeds from IPO		$ 536.9

Summary of Significant Accounting Policies - Additional Information (Details)	12 Months Ended
	Dec. 31, 2021 USD ($) Customer shares	Dec. 31, 2020 USD ($) shares	Dec. 31, 2019 USD ($) shares	Sep. 30, 2021 USD ($)	Dec. 31, 2018 USD ($)
Significant Accounting Policies [Line Items]
Contributions to ESOP \| shares	1,631,477	1,522,381	1,345,198
Repurchase of shares of common stock from ESOP \| shares			191,331
Redemption value of ESOP participants interest			$ 6,300,000
Adoption of ASC 606	$ 1,937,112,000	$ 1,861,417,000	1,660,756,000		$ (921,076,000)
Accounting Standards Update 2018-09
Significant Accounting Policies [Line Items]
Change in accounting principle, accounting standards update, adopted	true
Change in accounting principle, accounting standards update, immaterial effect	true
ASU 2016-02
Significant Accounting Policies [Line Items]
Change in accounting principle, accounting standards update, adopted	true
Change in accounting principle, accounting standards update, adoption date	Jan. 01, 2019
Change in accounting principle, accounting standards update, immaterial effect	false
ASU 2016-02 \| Revision of Prior Period, Accounting Standards Update, Adjustment
Significant Accounting Policies [Line Items]
Adoption of ASC 606					$ 52,608,000
ASU 2016-02 \| Revision of Prior Period, Accounting Standards Update, Adjustment \| Net Deferred Tax Asset
Significant Accounting Policies [Line Items]
Adoption of ASC 606	$ 52,600,000
ASU 2016-02 \| Revision of Prior Period, Accounting Standards Update, Adjustment \| Deferred Tax Asset
Significant Accounting Policies [Line Items]
Adoption of ASC 606	$ 700,000
ASC 2016-13
Significant Accounting Policies [Line Items]
Change in accounting principle, accounting standards update, adopted	true
Change in accounting principle, accounting standards update, adoption date	Dec. 15, 2019
Change in accounting principle, accounting standards update, immaterial effect	true
ASC 2016-13 \| Revision of Prior Period, Accounting Standards Update, Adjustment
Significant Accounting Policies [Line Items]
Adoption of ASC 606			$ (1,000,000)
Accounting Standards Update 2018-02
Significant Accounting Policies [Line Items]
Change in accounting principle, accounting standards update, adopted	true
Change in accounting principle, accounting standards update, adoption date	Jan. 01, 2019
Change in accounting principle, accounting standards update, immaterial effect	true
Accounting Standards Update 2019-12
Significant Accounting Policies [Line Items]
Change in accounting principle, accounting standards update, adopted	true
Change in accounting principle, accounting standards update, adoption date	Jan. 01, 2021
Change in accounting principle, accounting standards update, immaterial effect	true
Accounting Standards Update 2020-06
Significant Accounting Policies [Line Items]
Change in accounting principle, accounting standards update, adopted	true
Change in accounting principle, accounting standards update, adoption date	Jan. 01, 2021
Change in accounting principle, accounting standards update, immaterial effect	false
Accounting Standards Update 2020-06 \| Revision of Prior Period, Accounting Standards Update, Adjustment
Significant Accounting Policies [Line Items]
Adoption of ASC 606		$ (37,220,000)
Concentration of Customer Risk \| United States
Significant Accounting Policies [Line Items]
Number of customers representing more than 10% of revenue \| Customer	0
Concentration of Credit Risk \| United States
Significant Accounting Policies [Line Items]
Number of customers representing more than 10% of accounts receivable \| Customer	0
Revenue Benchmark \| Concentration of Customer Risk \| United States
Significant Accounting Policies [Line Items]
Concentration risk percentage	52.00%	49.00%	48.00%
Accounts Receivable \| Concentration of Credit Risk \| United States
Significant Accounting Policies [Line Items]
Concentration risk percentage	17.00%	19.00%
Maximum
Significant Accounting Policies [Line Items]
Number of authorized shares of common stock value				$ 100,000,000
Performance obligations payment terms from date of invoice	120 days
Intangible assets useful lives of underlying assets	16 years
Minimum
Significant Accounting Policies [Line Items]
Performance obligations payment terms from date of invoice	30 days
Intangible assets useful lives of underlying assets	1 year

Acquisitions - Additional Information (Details) - USD ($)						12 Months Ended
	Jul. 30, 2021	Jul. 06, 2021	Nov. 19, 2020	Jul. 31, 2019	Jan. 07, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Amortization of intangible assets						$ 103,200,000	$ 87,800,000	$ 88,300,000
Goodwill						1,412,690,000	1,261,978,000	1,047,425,000
Revenues						3,660,771,000	3,918,946,000	3,954,812,000
BlackHorse Solutions, Inc.
Business Acquisition [Line Items]
Percentage of ownership interest acquired		100.00%
Cash paid to acquire		$ 205,000,000.0
Amortization of intangible assets						5,400,000
Goodwill		143,830,000
Goodwill deductible for tax purposes		$ 10,600,000
Revenues						35,300,000
BlackHorse Solutions, Inc. \| Selling, General and Administrative Expense
Business Acquisition [Line Items]
Acquisition related expenses						3,100,000
Echo Ridge LLC
Business Acquisition [Line Items]
Percentage of ownership interest acquired	100.00%
Cash paid to acquire	$ 9,000,000.0
Goodwill	$ 7,200,000
Revenues						2,900,000
Echo Ridge LLC \| Selling, General and Administrative Expense
Business Acquisition [Line Items]
Acquisition related expenses						300,000
Braxton Science & Technology Group
Business Acquisition [Line Items]
Percentage of ownership interest acquired			100.00%
Cash paid to acquire			$ 310,900,000
Amortization of intangible assets						16,200,000	1,300,000
Goodwill			212,185,000
Goodwill deductible for tax purposes			$ 200,500,000
Revenues							10,100,000
Braxton Science & Technology Group \| Selling, General and Administrative Expense
Business Acquisition [Line Items]
Acquisition related expenses							5,500,000
QRC Technologies
Business Acquisition [Line Items]
Percentage of ownership interest acquired				100.00%
Cash paid to acquire				$ 214,100,000
Amortization of intangible assets						13,100	14,000.0	5,700,000
Goodwill				125,091,000
Revenues								11,200,000
QRC Technologies \| Revolving Credit Facility
Business Acquisition [Line Items]
Borrowed under credit agreement to partially fund the acquisition				140,000,000.0
QRC Technologies \| Selling, General and Administrative Expense
Business Acquisition [Line Items]
Acquisition related expenses				$ 4,900,000
O G Systems
Business Acquisition [Line Items]
Percentage of ownership interest acquired					100.00%
Cash paid to acquire					$ 292,400,000
Amortization of intangible assets						$ 21,900,000	$ 23,800
Goodwill					183,540,000
Goodwill deductible for tax purposes					16,000,000
Revenues								143,400,000
Borrowed under credit agreement to partially fund the acquisition					110,000,000
O G Systems \| Term Loan
Business Acquisition [Line Items]
Borrowed under credit agreement to partially fund the acquisition					$ 150,000,000
O G Systems \| Selling, General and Administrative Expense
Business Acquisition [Line Items]
Acquisition related expenses								$ 5,400,000

Acquisitions - Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed on Purchase Price Allocation (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Jul. 06, 2021	Dec. 31, 2020	Nov. 19, 2020	Dec. 31, 2019	Jul. 31, 2019	Jan. 07, 2019
Business Acquisition [Line Items]
Contract assets	$ 579,216		$ 576,568
Goodwill	1,412,690		1,261,978		$ 1,047,425
Contract liabilities	$ (171,671)		$ (201,864)
BlackHorse Solutions, Inc.
Business Acquisition [Line Items]
Cash and cash equivalents		$ 15,428
Accounts receivable		3,351
Contract assets		5,979
Prepaid expenses and other current assets		937
Property and equipment		2,239
Right of use assets, operating leases		6,157
Goodwill		143,830
Intangible assets		64,000
Accounts payable		(2,326)
Accrued expenses and other current liabilities		(17,190)
Contract liabilities		(320)
Short-term lease liabilities, operating leases		(1,011)
Long-term lease liabilities, operating leases		(5,146)
Deferred tax liabilities		(10,660)
Other long-term liabilities		(235)
Net assets acquired		$ 205,033
Braxton Science & Technology Group
Business Acquisition [Line Items]
Cash and cash equivalents				$ 7,006
Accounts receivable				18,163
Contract assets				8,350
Prepaid expenses and other current assets				3,036
Property and equipment				5,114
Right of use assets, operating leases				10,788
Goodwill				212,185
Intangible assets				74,950
Accounts payable				(7,464)
Accrued expenses and other current liabilities				(9,845)
Contract liabilities				(300)
Short-term lease liabilities, operating leases				(1,915)
Long-term lease liabilities, operating leases				(8,873)
Deferred tax liabilities				(1,694)
Net assets acquired				$ 309,501
QRC Technologies
Business Acquisition [Line Items]
Cash and cash equivalents						$ 5,925
Accounts receivable						5,587
Prepaid expenses and other current assets						5,727
Property and equipment						1,205
Right of use assets, operating leases						5,228
Goodwill						125,091
Intangible assets						76,200
Accounts payable						(1,567)
Accrued expenses and other current liabilities						(4,025)
Short-term lease liabilities, operating leases						(545)
Long-term lease liabilities, operating leases						(4,683)
Net assets acquired						$ 214,143
O G Systems
Business Acquisition [Line Items]
Cash and cash equivalents							$ 5,772
Accounts receivable							9,904
Contract assets							9,747
Prepaid expenses and other current assets							4,307
Property and equipment							4,085
Right of use assets, operating leases							8,826
Goodwill							183,540
Intangible assets							92,300
Other noncurrent assets							10
Accounts payable							(5,450)
Accrued expenses and other current liabilities							(7,147)
Contract liabilities							(1,300)
Short-term lease liabilities, operating leases							(805)
Income tax payable							(1,178)
Long-term lease liabilities, operating leases							(8,021)
Deferred tax liabilities							(1,195)
Other long-term liabilities							(1,015)
Net assets acquired							$ 292,380

Acquisitions - Schedule of Intangible Assets Value on Purchase Price (Details) - USD ($) $ in Thousands					12 Months Ended
	Jul. 06, 2021	Nov. 19, 2020	Jul. 31, 2019	Jan. 07, 2019	Dec. 31, 2021
Minimum
Acquired Finite Lived Intangible Assets [Line Items]
Amortization Period (in years)					1 year
Maximum
Acquired Finite Lived Intangible Assets [Line Items]
Amortization Period (in years)					16 years
Developed Technology
Acquired Finite Lived Intangible Assets [Line Items]
Amortization Period (in years)					4 years
Developed Technology \| BlackHorse Solutions, Inc.
Acquired Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 1,000
Amortization Period (in years)	3 years
Developed Technology \| Braxton Science & Technology Group
Acquired Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount		$ 2,000
Amortization Period (in years)		6 years
Developed Technology \| QRC Technologies
Acquired Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount			$ 21,800
Developed Technology \| QRC Technologies \| Minimum
Acquired Finite Lived Intangible Assets [Line Items]
Amortization Period (in years)			3 years
Developed Technology \| QRC Technologies \| Maximum
Acquired Finite Lived Intangible Assets [Line Items]
Amortization Period (in years)			5 years
Developed Technology \| O G Systems
Acquired Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount				$ 1,300
Amortization Period (in years)				3 years
Customer Relationships
Acquired Finite Lived Intangible Assets [Line Items]
Amortization Period (in years)					8 years
Customer Relationships \| BlackHorse Solutions, Inc.
Acquired Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 39,000
Amortization Period (in years)	16 years
Customer Relationships \| Braxton Science & Technology Group
Acquired Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount		$ 34,100
Amortization Period (in years)		12 years
Customer Relationships \| QRC Technologies
Acquired Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount			$ 49,800
Amortization Period (in years)			12 years
Customer Relationships \| O G Systems
Acquired Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount				$ 57,100
Amortization Period (in years)				5 years
Backlog
Acquired Finite Lived Intangible Assets [Line Items]
Amortization Period (in years)					3 years
Backlog \| BlackHorse Solutions, Inc.
Acquired Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 22,000
Amortization Period (in years)	3 years
Backlog \| Braxton Science & Technology Group
Acquired Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount		$ 38,200
Amortization Period (in years)		3 years
Backlog \| QRC Technologies
Acquired Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount			$ 800
Amortization Period (in years)			1 year
Backlog \| O G Systems
Acquired Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount				$ 27,700
Amortization Period (in years)				3 years
Trade Name
Acquired Finite Lived Intangible Assets [Line Items]
Amortization Period (in years)					1 year
Trade Name \| BlackHorse Solutions, Inc.
Acquired Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 1,000
Amortization Period (in years)	2 years
Trade Name \| QRC Technologies
Acquired Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount			$ 800
Amortization Period (in years)			2 years
Trade Name \| O G Systems
Acquired Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount				$ 3,800
Amortization Period (in years)				2 years
Non compete Agreements
Acquired Finite Lived Intangible Assets [Line Items]
Amortization Period (in years)					3 years
Non compete Agreements \| BlackHorse Solutions, Inc.
Acquired Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 1,000
Amortization Period (in years)	3 years
Non compete Agreements \| Braxton Science & Technology Group
Acquired Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount		$ 650
Amortization Period (in years)		3 years
Non compete Agreements \| QRC Technologies
Acquired Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount			$ 1,200
Amortization Period (in years)			4 years
Non compete Agreements \| O G Systems
Acquired Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount				$ 2,400
Amortization Period (in years)				3 years
In-Process Research and Development \| QRC Technologies
Acquired Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount			$ 1,800
In-Process Research and Development \| QRC Technologies \| Minimum
Acquired Finite Lived Intangible Assets [Line Items]
Amortization Period (in years)			3 years
In-Process Research and Development \| QRC Technologies \| Maximum
Acquired Finite Lived Intangible Assets [Line Items]
Amortization Period (in years)			5 years

Acquisitions - Schedule of Supplemental Pro Forma Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
BlackHorse Solutions, Inc.
Business Acquisition [Line Items]
Pro forma Revenue	$ 3,699,227	$ 3,966,809
Pro forma Net Income including noncontrolling interests	93,592	108,008
Braxton Science & Technology Group
Business Acquisition [Line Items]
Pro forma Revenue		4,039,420	$ 4,042,810
Pro forma Net Income including noncontrolling interests		$ 125,298	126,076
QRC Technologies
Business Acquisition [Line Items]
Pro forma Revenue			3,976,361
Pro forma Net Income including noncontrolling interests			$ 138,692
O G Systems
Business Acquisition [Line Items]
Pro forma Revenue	3,956,767
Pro forma Net Income including noncontrolling interests	$ 134,046

Contracts with Customers - Summary of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disaggregation Of Revenue [Line Items]
Revenues	$ 3,660,771	$ 3,918,946	$ 3,954,812
Cost-Plus
Disaggregation Of Revenue [Line Items]
Revenues	1,674,276	1,631,140	1,705,832
Time-and-Materials
Disaggregation Of Revenue [Line Items]
Revenues	1,021,568	1,034,596	1,074,037
Fixed-Price
Disaggregation Of Revenue [Line Items]
Revenues	$ 964,927	$ 1,253,210	$ 1,174,943

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Contracts with Customers - Summary of Contract Assets and Contract Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Revenue From Contract With Customer [Abstract]
Contract assets	$ 579,216	$ 576,568
Contract liabilities	171,671	201,864
Net contract assets (liabilities)	407,545	$ 374,704
Change in contract assets	2,648
Change in contract liabilities	(30,193)
Change in contract assets and liabilities	$ 32,841
Percentage change in contract assets	0.50%
Percentage change in contract liabilities	(15.00%)
Percentage change in contract assets and liabilities	8.80%

Contracts with Customers - Summary of Contract Assets and Contract Liabilities (Parenthetical) (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Revenue From Contract With Customer [Abstract]
Contract retentions	$ 91.7	$ 93.8
Contract retentions, not expected to be paid in next 12 months	44.9
Contract assets, unapproved change orders, claims, and requests	$ 98.6	$ 116.6

Contracts with Customers - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Revenue From Contract With Customer [Abstract]
Revenue recognized included contract liability	$ 102,500,000	$ 137,400,000
Impairment of contract assets	0	$ 0
Impact of changes in estimated claims or incentives on revenue	5,000,000
Remaining unsatisfied performance obligations	$ 5,800,000,000

Contracts with Customers - Summary of Changes in Contract Assets and Contract Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Revenue From Contract With Customer [Abstract]
Acquired contract assets	$ 5,979	$ 8,350
Acquired contract liabilities	$ 320	$ 300

Contracts with Customers - Summary of Changes in Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenue From Contract With Customer [Abstract]
Revenue impact, net	$ (30,828)	$ 8,875	$ 12,166

Contracts with Customers - Summary of Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Revenue From Contract With Customer [Abstract]
Billed	$ 434,776	$ 512,357
Unbilled	167,490	190,222
Total accounts receivable, gross	602,266	702,579
Allowance for doubtful accounts	(3,955)	(4,001)
Total accounts receivable, net	$ 598,311	$ 698,578

Leases - Additional Information (Details) - USD ($)	12 Months Ended
Leases - Additional Information (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Lessee Lease Description [Line Items]
Lease option to extend	five years
Lease existence of option to extend	true
Lease option to terminate	third year
Lease existence of option to terminate	true
Operating lease not yet commenced expense	$ 0
Selling, General and Administrative Expense
Lessee Lease Description [Line Items]
Rental expense	$ 73,100,000	$ 81,800,000	$ 82,100,000
Minimum
Lessee Lease Description [Line Items]
Lease term of contract	1 year
Maximum
Lessee Lease Description [Line Items]
Lease term of contract	8 years

Leases - Summary of Lease Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease cost	$ 61,800	$ 66,159
Short-term lease cost	11,261	15,624
Amortization of right-of-use assets	2,128	1,496
Interest on lease liabilities	106	146
Sublease income	(3,049)	(3,731)
Total lease cost	$ 72,246	$ 79,694

Leases - Schedule of Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating cash flows for operating leases	$ 68,563	$ 62,117
Operating cash flows for financing activities	107	147
Financing cash flows for finance leases	2,082	1,551
Right-of-use assets obtained in exchange for new operating lease liabilities	18,931	23,949
Right-of-use assets obtained in exchange for new finance lease liabilities	$ 2,003	$ 1,018

Leases - Schedule of Supplemental Balance Sheet and Other Information Related to Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Operating Leases:
Right-of-use assets	$ 182,672	$ 210,398
Lease liabilities:
Current	55,902	54,133
Long-term	148,893	182,467
Total operating lease liabilities	204,795	236,600
Finance Leases:
Other noncurrent assets	4,389	3,363
Accrued expenses and other current liabilities	$ 1,822	$ 1,461
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	us-gaap:OtherLiabilitiesCurrent	us-gaap:OtherLiabilitiesCurrent
Other long-term liabilities	$ 2,422	$ 1,733
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other long-term liabilities	Other long-term liabilities
Weighted Average Remaining Lease Term:
Operating leases	4 years 3 months 18 days	5 years
Finance leases	2 years 10 months 24 days	3 years
Weighted Average Discount Rate:
Operating leases	3.50%	3.70%
Finance leases	2.10%	3.80%

Leases - Schedule of Maturity Analysis of Future Undiscounted Cash Flows (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Operating Leases
2022	$ 61,449
2023	52,893
2024	41,973
2025	30,965
2026	17,326
Thereafter	14,540
Total lease payments	219,146
Less: imputed interest	(14,351)
Total present value of lease liabilities	204,795	$ 236,600
Finance Leases
2022	1,885
2023	1,211
2024	803
2025	440
2026	10
Total lease payments	4,349
Less: imputed interest	(105)
Total present value of lease liabilities	$ 4,244

Employee Stock Purchase and Equity-Based Compensation Plans - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense, net of tax benefits	$ 16.8	$ 8.2	$ 49.0
Stock-based compensation expense, tax benefits	2.8	1.5	16.7
Stock-based compensation expense, tax benefit realized related to awards vested	6.3	$ 10.3	$ 3.3
Compensation cost related to non-vested awards not yet recognized	$ 19.4
Vesting period	3 years
Common stock related to employee statutory income tax withholding, shares retired	63,482	36,921	27,962
Stock Appreciation Rights
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of years over which share price increase	3 years
Vesting period	3 years
Long-Term Growth Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	3 years
Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	3 years
Share issued	188,408	78,476	74,704
Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of per-share market value limit for share purchases	5.00%
Average purchase price	$ 34.46	$ 34.53

Employee Stock Purchase and Equity-Based Compensation Plans - Summary of Stock Issuance Activity (Details) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Purchase price paid for shares sold	$ 5,555	$ 4,386	$ 536,879
Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Purchase price paid for shares sold	$ 5,556	$ 4,386
Number of shares sold	161	127

Employee Stock Purchase and Equity-Based Compensation Plans - Summary of Stock Appreciation Right Activity (Details) - Stock Appreciation Rights - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Units, Unvested, Beginning balance	1,477,628	3,416,654
Number of Units, Vested	(1,434,836)	(1,547,142)
Number of Units, Forfeited	(42,792)	(391,884)
Number of Units, Unvested, Ending balance		1,477,628
Weighted Average Grant-Date Fair Value, Unvested, Beginning balance	$ 3.00	$ 3.00
Weighted Average Grant-Date Fair Value, Vested	3.00	3.00
Weighted Average Grant-Date Fair Value, Forfeited	$ 3.00	3.00
Weighted Average Grant-Date Fair Value, Unvested, Ending balance		$ 3.00

Employee Stock Purchase and Equity-Based Compensation Plans - Schedule of Unvested Share Activity (Details) - Long-Term Growth Units - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Units, Unvested, Beginning balance	127,437	299,781
Number of Units, Vested	(125,948)	(137,760)
Number of Units, Forfeited	(1,489)	(34,584)
Number of Units, Unvested, Ending balance		127,437
Weighted Average Grant-Date Fair Value, Unvested, Beginning balance	$ 20.23	$ 20.23
Weighted Average Grant-Date Fair Value, Vested	22.67	20.00
Weighted Average Grant-Date Fair Value, Forfeited	$ 22.67	20.27
Weighted Average Grant-Date Fair Value, Unvested, Ending balance		$ 20.23

Employee Stock Purchase and Equity-Based Compensation Plans - Summary of Restricted Award Unit Activity (Details) - Restricted Award Units - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Units, Unvested, Beginning balance	6,399	249,444	589,350
Number of Units, Vested	(6,399)	(234,028)	(281,805)
Number of Units, Forfeited		(9,017)	(58,101)
Number of Units, Unvested, Ending balance		6,399	249,444
Weighted Average Grant-Date Fair Value, Unvested, Beginning balance	$ 22.67	$ 22.40	$ 21.31
Weighted Average Grant-Date Fair Value, Vested	$ 22.38	22.38	20.33
Weighted Average Grant-Date Fair Value, Forfeited		22.67	21.31
Weighted Average Grant-Date Fair Value, Unvested, Ending balance		$ 22.67	$ 22.40

Employee Stock Purchase and Equity-Based Compensation Plans - Schedule of Amount Paid for Cash Settled Awards (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total cash settled awards	$ 26,643	$ 39,945	$ 11,906
Stock Appreciation Rights
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total cash settled awards	15,798	26,920	5,261
Long-Term Growth Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total cash settled awards	3,778	3,617	1,108
Restricted Award Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total cash settled awards	$ 7,067	$ 9,408	$ 5,537

Employee Stock Purchase and Equity-Based Compensation Plans - Summary of Restricted Stock Unit Activity (Details) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Restricted Stock Units (Service Condition)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Units, Granted	450,675	313,735	270,544
Number of Units, Unvested, Beginning balance	374,819	189,090
Number of Units, Unvested, Ending balance	526,349	374,819	189,090
Restricted Stock Units (Service and Performance Condition)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Units, Granted	374,535	269,710	327,675
Number of Units, Unvested, Beginning balance	556,966	317,550
Number of Units, Unvested, Ending balance	832,894	556,966	317,550
Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Units, Granted	825,210	583,445	598,219
Weighted Average Grant-Date Fair Value, Granted	$ 37.09	$ 37.92	$ 34.06
Number of Units, Unvested, Beginning balance	931,785	506,640
Number of Units, Vested	(222,228)	(104,016)	(74,704)
Number of Units, Forfeited	(175,524)	(54,284)	(16,875)
Number of Units, Unvested, Ending balance	1,359,243	931,785	506,640
Weighted Average Grant-Date Fair Value, Unvested, Beginning balance	$ 36.32	$ 34.07
Weighted Average Grant-Date Fair Value, Vested	36.49	34.34	$ 34.02
Weighted Average Grant-Date Fair Value, Forfeited	36.39	35.54	34.02
Weighted Average Grant-Date Fair Value, Unvested, Ending balance	$ 36.75	$ 36.32	$ 34.07

Employee Stock Purchase and Equity-Based Compensation Plans - Summary of Restricted Stock Outstanding (Details) - shares shares in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Restricted Stock Units (Service Condition)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares	526,349	374,819	189,090
Restricted Stock Units (Service and Performance Condition)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares	832,894	556,966	317,550

Goodwill - Summary of Changes in Carrying Value of Goodwill by Reporting Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Goodwill [Line Items]
Beginning Balance	$ 1,261,978	$ 1,047,425
Acquisitions	150,235	213,477
Foreign Exchange	477	1,076
Ending Balance	1,412,690	1,261,978
Federal Solutions
Goodwill [Line Items]
Beginning Balance	1,188,882	975,405
Acquisitions	150,235	213,477
Ending Balance	1,339,117	1,188,882
Critical Infrastructure
Goodwill [Line Items]
Beginning Balance	73,096	72,020
Foreign Exchange	477	1,076
Ending Balance	$ 73,573	$ 73,096

Goodwill - Additional Information (Details) - USD ($)	12 Months Ended
Goodwill - Additional Information (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill impairments	$ 0	$ 0	$ 0

Intangible Assets - Schedule of Gross Amount and Accumulated Amortization of Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Acquired Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 602,418	$ 537,218
Accumulated Amortization	(394,597)	(291,260)
Net Carrying Amount	207,821	245,958
Backlog
Acquired Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	169,455	145,855
Accumulated Amortization	(126,637)	(101,038)
Net Carrying Amount	$ 42,818	44,817
Amortization Period (in years)	3 years
Customer Relationships
Acquired Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 301,829	264,129
Accumulated Amortization	(158,405)	(110,450)
Net Carrying Amount	$ 143,424	153,679
Amortization Period (in years)	8 years
Leases
Acquired Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 670	670
Accumulated Amortization	(618)	(599)
Net Carrying Amount	$ 52	71
Amortization Period (in years)	5 years
Developed Technology
Acquired Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 113,939	112,039
Accumulated Amortization	(96,765)	(68,968)
Net Carrying Amount	$ 17,174	43,071
Amortization Period (in years)	4 years
Trade Name
Acquired Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 9,200	8,200
Accumulated Amortization	(8,444)	(7,967)
Net Carrying Amount	$ 756	233
Amortization Period (in years)	1 year
Non compete Agreements
Acquired Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 5,250	4,250
Accumulated Amortization	(3,523)	(2,043)
Net Carrying Amount	$ 1,727	2,207
Amortization Period (in years)	3 years
In Process Research and Development
Acquired Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 1,800	1,800
Accumulated Amortization		0
Net Carrying Amount	1,800	1,800
Other Intangibles
Acquired Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	275	275
Accumulated Amortization	(205)	(195)
Net Carrying Amount	$ 70	$ 80
Amortization Period (in years)	10 years

Intangible Assets - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Amortization expense of intangible assets	$ 103.2	$ 87.8	$ 88.3

Intangible Assets - Schedule of Estimated Amortization Expense (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
2022	$ 63,163
2023	49,286
2024	18,799
2025	12,151
2026	9,636
Thereafter	52,986
Finite-Lived Intangible Assets, Net	$ 206,021

Property and Equipment, Net - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 363,814	$ 367,614
Accumulated depreciation	(259,618)	(246,587)
Property and equipment, net	104,196	121,027	$ 122,751
Buildings and Leasehold Improvements
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 99,543	98,151
Buildings and Leasehold Improvements \| Minimum
Property Plant And Equipment [Line Items]
Useful life (years)	1 year
Buildings and Leasehold Improvements \| Maximum
Property Plant And Equipment [Line Items]
Useful life (years)	15 years
Furniture and Equipment
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 86,862	91,036
Furniture and Equipment \| Minimum
Property Plant And Equipment [Line Items]
Useful life (years)	3 years
Furniture and Equipment \| Maximum
Property Plant And Equipment [Line Items]
Useful life (years)	10 years
Computer Systems and Equipment
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 157,633	160,305
Computer Systems and Equipment \| Minimum
Property Plant And Equipment [Line Items]
Useful life (years)	3 years
Computer Systems and Equipment \| Maximum
Property Plant And Equipment [Line Items]
Useful life (years)	10 years
Construction Equipment
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 6,806	8,920
Construction Equipment \| Minimum
Property Plant And Equipment [Line Items]
Useful life (years)	5 years
Construction Equipment \| Maximum
Property Plant And Equipment [Line Items]
Useful life (years)	7 years
Construction in Progress
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 12,970	$ 9,202

Property and Equipment, Net - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property Plant And Equipment [Abstract]
Depreciation expense	$ 38.6	$ 39.0	$ 37.3

Sale-Leasebacks - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2011 USD ($) Sale-leaseback building	Dec. 31, 2020 USD ($)	Jan. 31, 2019 USD ($)
Sale Leaseback Transaction [Line Items]
Sale leaseback transaction, description	During fiscal 2011, the Company consummated two sale-leaseback transactions associated with the sale of two office buildings
Number of sale leaseback transactions consummated \| Sale-leaseback			2
Number of sale leaseback transaction associated with sale \| building			2
Gain recognized to the sale leaseback transaction			$ 106,700
Deferred gain resulting from sale-leaseback transactions			$ 107,800
Amortization of deferred gain		$ 7,300
Deferred gain balance recognized	$ (53,529)			$ (120,569)
ASU 2016-02 \| Deferred Tax Asset
Sale Leaseback Transaction [Line Items]
Deferred gain balance recognized					$ 700
ASU 2016-02 \| Revision of Prior Period, Change in Accounting Principle, Adjustment
Sale Leaseback Transaction [Line Items]
Deferred gain balance recognized		$ 53,300

Accrued Expenses and Other Current Liabilities - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Payables And Accruals [Abstract]
Salaries and wages	$ 90,023	$ 72,498
Employee benefits	264,912	293,768
Self-insurance liability	23,737	32,447
Project cost accruals	127,970	164,243
Other accrued expenses	92,447	87,797
Total accrued expenses and other current liabilities	$ 599,089	$ 650,753

Debt and Credit Facilities - Schedule of Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Short-term debt	$ 0	$ 50,000
Convertible senior notes	400,000	400,000
Debt discount		(51,138)
Long-term debt issuance costs	(8,078)	(8,864)
Total long-term	591,922	539,998
Total Debt	591,922	589,998
Senior Notes
Debt Instrument [Line Items]
Short-term debt		50,000
Long-term debt	$ 200,000	$ 200,000

- Definition

Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

+ References + Details

Debt and Credit Facilities - Additional Information (Details)		1 Months Ended				6 Months Ended	12 Months Ended
	Jul. 01, 2014 USD ($)	Jul. 31, 2021 USD ($)	Jun. 30, 2021 USD ($) Extension	Aug. 31, 2020 USD ($) d $ / shares shares	Jan. 31, 2019 USD ($)	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($) d $ / shares shares	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Mar. 31, 2021 USD ($)	Jan. 01, 2021 USD ($)	Aug. 10, 2018 USD ($)
Debt Instrument [Line Items]
Letters of credit outstanding amount							$ 223,000,000.0	$ 193,100,000
Proceeds from issuance of warrants							0	13,808,000	$ 0
Deferred tax liabilities							11,400,000	12,285,000
Deferred tax assets							134,393,000	130,200,000
Level 2
Debt Instrument [Line Items]
Senior notes, fair value							219,800,000
Senior Notes
Debt Instrument [Line Items]
Debt instrument, outstanding amount							200,000,000	200,000,000
Senior Note, Series A
Debt Instrument [Line Items]
Senior note, amount paid		$ 50,000,000
Convertible Senior Notes
Debt Instrument [Line Items]
Interest rate				0.25%
Interest expense							$ 3,000,000.0	4,400,000
Debt amount				$ 400,000,000.0
Exercise of option by initial purchasers aggregate principal amount				50,000,000.0
Proceeds from issuance and sale of debt				389,700,000
Transaction fees and other third-party offering expenses				$ 10,300,000
Debt instrument, payment terms							The Convertible Senior Notes accrue interest at a rate of 0.25% per annum, payable semi-annually on February 15 and August 15 of each year beginning on February 15, 2021
Debt instrument, frequency of periodic payment							semi-annually
Maturity Date				Aug. 15, 2025
Convertible note converted each amount							$ 1,000
Convertible notes converted each into shares of common stock \| shares							22.2913
Debt Instrument, conversion price \| $ / shares							$ 44.86
Threshold trading days \| d				20			51
Threshold consecutive trading days \| d				30
Conversion percentage of stock price trigger				130.00%
Number of business day period				5 days
Consecutive trading day period				5 days
Convertible principal amount				$ 1,000
Measurement period, percentage				98.00%
Percentage of principal amount to redeem convertible senior notes				100.00%
Percentage of convertible senior notes repurchased at cash				100.00%
Debt liability				$ 336,100,000
Debt instrument convertible notes additional paid in capital				$ 53,600,000
Convertible senior notes effective interest rate				3.25%
Net carrying value of notes								400,000,000.0
Bond hedge term							5 years
Number of shares issuable upon conversion \| shares				8,900,000
Cost of convertible note hedge transaction				$ 55,000,000.0
Number of common stock acquired by offsetting sale warrants. \| shares							8,900,000
Exercise price of warrants \| $ / shares							$ 66.46
Proceeds from issuance of warrants							$ 13,800,000
Convertible Senior Notes \| Accounting Standards Update 2020-06
Debt Instrument [Line Items]
Reclassification of equity component of convertible senior notes to liabilities										$ 55,000,000.0
Reclassification of equity component of debt issuance costs to liabilities										$ 1,400,000
Carrying amount of convertible senior notes adjusted in retained earnings											$ 3,700,000
Convertible Note Hedge And Warrant Transaction
Debt Instrument [Line Items]
Purchase of bond hedges and sale of warrants				$ 41,200,000
Deferred tax liabilities							16,200,000
Deferred tax assets							16,500,000
Convertible Note Hedge And Warrant Transaction \| Accounting Standards Update 2020-06
Debt Instrument [Line Items]
Deferred tax liability reversed							13,900,000
Additional deferred tax liability related to capitalized debt issuance costs							400,000
Adjustment to deferred tax asset through retained earnings							900,000
Private Placement
Debt Instrument [Line Items]
Debt issuance costs incurred	$ 1,100,000											$ 500,000
Debt amount	250,000,000.0
Private Placement \| Accrued Expenses and Other Current Liabilities
Debt Instrument [Line Items]
Interest payable							4,700,000	5,500,000
Private Placement \| Senior Notes
Debt Instrument [Line Items]
Interest expense							11,600,000	12,400,000	12,400,000
Interest payments							12,400,000	12,400,000	12,400,000
Private Placement \| Senior Note, Series A
Debt Instrument [Line Items]
Debt amount	$ 50,000,000
Maturity Date	Jul. 15, 2021
Term Loan
Debt Instrument [Line Items]
Interest expense									2,300,000
Debt instrument, outstanding amount							$ 0	$ 0
Debt amount					$ 150,000,000.0
Senior note, amount paid					$ 150,000,000.0
Minimum \| Convertible Senior Notes
Debt Instrument [Line Items]
Debt Instrument, conversion price \| $ / shares				$ 44.86
Percentage of bond hedge and warrant transactions increased conversion price				35.00%
Maximum \| Convertible Senior Notes
Debt Instrument [Line Items]
Debt Instrument, conversion price \| $ / shares				$ 66.46
Percentage of bond hedge and warrant transactions increased conversion price				100.00%
Unsecured Revolving Credit Facility
Debt Instrument [Line Items]
Credit agreement date			Jun. 30, 2021
Revolving credit facility			$ 650,000,000			$ 650,000,000
Debt issuance costs incurred			1,900,000			1,900,000
Revolving credit facility			$ 550,000,000			$ 550,000,000
Credit agreement maturity period			5 years
Credit agreement number of extensions \| Extension			2
Interest rate							1.36%	1.87%
Letters of credit outstanding amount							$ 44,300,000	$ 44,900,000
Interest expense							700,000	$ 1,000,000.0	$ 6,300,000
Debt instrument, outstanding amount							$ 0
Unsecured Revolving Credit Facility \| Base Rate \| Minimum
Debt Instrument [Line Items]
Margin interest rate						0.00%
Unsecured Revolving Credit Facility \| Base Rate \| Maximum
Debt Instrument [Line Items]
Margin interest rate						0.625%
Unsecured Revolving Credit Facility \| Euro Currency Rate \| Minimum
Debt Instrument [Line Items]
Margin interest rate						1.00%
Unsecured Revolving Credit Facility \| Euro Currency Rate \| Maximum
Debt Instrument [Line Items]
Margin interest rate						1.625%

Debt and Credit Facilities - Schedule of Aggregate Amount Debt (Details) - Private Placement $ in Thousands	Jul. 01, 2014 USD ($)
Debt Instrument [Line Items]
Debt Amount	$ 250,000
Senior Note, Series A
Debt Instrument [Line Items]
Debt Amount	$ 50,000
Maturity Date	Jul. 15, 2021
Interest Rate	4.44%
Senior Note, Series B
Debt Instrument [Line Items]
Debt Amount	$ 100,000
Maturity Date	Jul. 15, 2024
Interest Rate	4.98%
Senior Note, Series C
Debt Instrument [Line Items]
Debt Amount	$ 60,000
Maturity Date	Jul. 15, 2026
Interest Rate	5.13%
Senior Note, Series D
Debt Instrument [Line Items]
Debt Amount	$ 40,000
Maturity Date	Jul. 15, 2029
Interest Rate	5.38%

Other Long-term Liabilities - Schedule of Other Long-term Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Other Liabilities Disclosure [Abstract]
Self-insurance liability	$ 72,424	$ 92,778
Reserve for uncertain tax positions	19,318	16,951
Finance lease obligations	2,422	1,733
Other long-term liabilities	668	20,838
Total other long-term liabilities	$ 94,832	$ 132,300

Income Taxes - Components of Income from Continuing Operations Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Taxes [Line Items]
Income before income tax expense	$ 112,588	$ 161,413	$ 67,242
United States Earnings
Income Taxes [Line Items]
Income before income tax expense	24,687	64,810	6,762
Foreign Earnings
Income Taxes [Line Items]
Income before income tax expense	$ 87,901	$ 96,603	$ 60,480

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 32
-Subparagraph (f)
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 940
-SubTopic 20
-Section 25
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-URI http://asc.fasb.org/extlink&oid=123384075&loc=d3e41242-110953

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(8))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI http://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

Income Taxes - Schedule of Income Tax Expense (Benefit) Attributable to Income from Continuing Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Current
Federal	$ 653	$ 15,663	$ 22,865
State	6,830	9,024	10,428
Foreign	19,621	16,534	20,159
Total current income tax expense	27,104	41,221	53,452
Deferred
Federal	1,624	(186)	(97,299)
State	(1,263)	(1,785)	(27,432)
Foreign	(3,829)	3,242	1,393
Total deferred tax expense (benefit)	(3,468)	1,271	(123,338)
Total income tax expense (benefit)	$ 23,636	$ 42,492	$ (69,886)

Income Taxes - Computation of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income before income tax expense (benefit)	$ 112,588	$ 161,413	$ 67,242
Tax at federal statutory tax rate	23,644	33,897	14,121
S- corporation exclusion			(4,875)
State taxes, net of federal tax benefit	4,192	4,838	3,223
Change in tax status		3,897	(93,878)
Change in valuation allowance	3,865	6,850	4,502
Change in uncertain tax positions	(80)	883	4,118
Foreign tax rate differential	(388)	(128)	4,886
Foreign tax credits	(5,151)	(47)	(1,313)
Transaction costs	540	61	1,052
Noncontrolling interests	(5,225)	(4,280)	(2,282)
Federal research credits	(2,538)	(2,206)
Executive compensation	2,352	80
Other, net	2,425	(1,353)	560
Total income tax expense (benefit)	$ 23,636	$ 42,492	$ (69,886)
Tax at federal statutory tax rate	21.00%	21.00%	21.00%
S- corporation exclusion	0.00%	0.00%	(7.00%)
State taxes, net of federal tax benefit	3.70%	3.00%	5.00%
Change in tax status	0.00%	2.40%	(140.00%)
Change in valuation allowance	3.40%	4.20%	7.00%
Change in uncertain tax positions	(0.10%)	0.60%	6.00%
Foreign tax rate differential	(0.30%)	(0.10%)	7.00%
Foreign tax credits	(4.60%)	(0.00%)	(2.00%)
Transaction costs	0.50%	0.00%	1.00%
Noncontrolling interests	(4.60%)	(2.60%)	(3.00%)
Federal research credits	(2.20%)	(1.40%)
Executive compensation	2.10%	0.00%
Other, net	2.10%	(0.90%)	1.10%
Total income tax expense (benefit)	21.00%	26.30%	(103.90%)

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Taxes [Line Items]
Effective income tax rate	21.00%	26.30%	(103.90%)
Deferred tax assets, valuation allowance	$ 27,348	$ 23,878
Deferred tax assets, increase in valuation allowance	3,400
Deferred tax assets recorded for foreign tax credit carryforwards	4,100
Net operating loss carryforwards	11,589	9,674
Unrecognized tax benefits that would impact effective tax rate	19,500	15,800
Unrecognized tax benefits, income tax penalties and interest expense	(900)	1,100	$ 1,300
Unrecognized tax benefits, income tax penalties and interest accrued	3,500	$ 4,400	$ 3,400
Decrease in uncertain tax positions within twelve months	1,900
U.S. States
Income Taxes [Line Items]
Net operating loss carryforwards	42,900
Net operating loss carryforwards, not subject to expiration	32,600
Foreign
Income Taxes [Line Items]
Net operating loss carryforwards	38,900
Net operating loss carryforwards, not subject to expiration	24,000
Foreign tax credit carryforwards	19,600
Foreign tax credits, valuation allowance	$ 19,600
Foreign tax credits, expiration year	2029
U.S. States and Foreign
Income Taxes [Line Items]
Net operating loss carryforwards, expiration description	expire if not used between 2022 and 2042
U.S. States and Foreign \| Minimum
Income Taxes [Line Items]
Net operating loss carryforwards, expiration year	2022
U.S. States and Foreign \| Maximum
Income Taxes [Line Items]
Net operating loss carryforwards, expiration year	2042
U.S. Federal
Income Taxes [Line Items]
Net operating loss carryforwards	$ 1,700
Net operating loss carryforwards, not subject to expiration	$ 400
U.S. Federal \| Earliest Tax Year
Income Taxes [Line Items]
Open tax year	2018

Income Taxes - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Project and non-project reserves	$ 24,668	$ 33,824
Employee compensation and benefits	60,397	61,260
Revenue and cost recognition	28,930	25,312
Insurance accruals	16,661	17,724
Net operating losses	11,589	9,674
Lease liabilities	54,926	62,994
Tax credit carryforwards	21,818	15,566
Other	3,323	3,296
Valuation allowance	(27,348)	(23,878)
Total deferred tax assets	194,964	205,772
Deferred tax liabilities
Intangible assets	(16,542)	(15,620)
Right of use assets	(48,993)	(56,099)
Other	(6,436)	(16,138)
Total deferred tax liabilities	(71,971)	(87,857)
Net deferred tax asset	$ 122,993	$ 117,915

Income Taxes - Reconciliation of Beginning and Ending Balances of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Uncertainties [Abstract]
Beginning of year	$ 16,395	$ 15,526	$ 7,845
Increases—current year tax positions	6,203	950	7,531
Increases—prior year tax positions	1,512	1,951	1,379
Decreases—prior year tax positions	(2,929)	(1,366)	(991)
Settlements		(666)	(124)
Lapse of statute of limitations			(114)
End of year	$ 21,181	$ 16,395	$ 15,526

Contingencies - Additional Information (Details)	12 Months Ended
Contingencies - Additional Information (Details)	Dec. 31, 2021 Claim
Commitments And Contingencies Disclosure [Abstract]
Number of claims outstanding	0

Retirement and Other Benefit Plans - Additional Information (Details) - USD ($)			12 Months Ended
	Apr. 15, 2019	Apr. 03, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Shares fully vested, Description			Shares allocated to a participant’s account are fully vested after three years of credited service, or in the event(s) of reaching age 65, death or disability while an active employee of the Company.
Shares fully vested after credited service			3 years
Common stock shares outstanding including ESOP			103,659,731	102,360,662
Company's stock held by ESOP			70,328,237	76,641,312
ESOP dividends declared date		Apr. 03, 2019
ESOP dividends declared per share		$ 2.00
ESOP dividends declared amount		$ 52,100,000
ESOP dividends payment date		May 10, 2019
Common stock dividend ratio	200.00%
Dividends declared date	Apr. 15, 2019
Dividends payment, date	May 08, 2019
Dividends record date	May 07, 2019
Dividends declared amount			$ 0	$ 0
Contribution to 401 (k) plan			25,500,000	24,400,000	$ 25,200,000
Other Noncurrent Assets
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Defined benefit pension plan, net assets position			2,600,000	2,000,000.0
Direct Costs of Contracts and Selling, General and Administrative Expense
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
ESOP contribution expense			$ 54,900,000	$ 55,300,000	$ 55,500,000

Investments in and Advances to Joint Ventures - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule Of Equity Method Investments [Line Items]
Letters of credit outstanding amount	$ 223.0	$ 193.1
Write-down on unconsolidated joint venture	15.6	15.5
Decrease in operating income	15.6	15.5
Decrease in net income net of tax	$ 11.6	$ 11.5
Decrease in earnings per share diluted	$ 0.10	$ 0.11
Unconsolidated Joint Ventures
Schedule Of Equity Method Investments [Line Items]
Net distributions from (contributions to) unconsolidated joint ventures	$ (13.2)	$ 30.5	$ 38.9
Consolidated Joint Ventures
Schedule Of Equity Method Investments [Line Items]
Letters of credit outstanding amount	$ 50.3	$ 59.3

Investments in and Advances to Joint Ventures - Summary of Financial Information for Consolidated Joint Ventures (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule Of Equity Method Investments [Line Items]
Current assets	$ 1,632,351	$ 1,843,130
Total assets	3,830,940	3,937,704
Current liabilities	1,030,784	1,187,409
Total liabilities	1,893,828	2,076,287
Total joint venture equity	1,900,768	1,813,772
Revenue	3,660,771	3,918,946	$ 3,954,812
Costs	2,807,950	3,042,087	3,123,062
Net income attributable to Parsons Corporation	64,072	98,541	120,534
Net income attributable to noncontrolling interests	24,880	20,380	16,594
Consolidated Joint Ventures
Schedule Of Equity Method Investments [Line Items]
Current assets	246,342	292,407
Noncurrent assets	2,180	2,990
Total assets	248,522	295,397
Current liabilities	175,637	201,270
Total liabilities	175,637	201,270
Total joint venture equity	72,885	94,127
Revenue	402,078	450,530	473,486
Costs	351,670	408,319	435,947
Net income attributable to Parsons Corporation	50,408	42,211	37,539
Net income attributable to noncontrolling interests	$ 24,880	$ 20,380	$ 16,594

Investments in and Advances to Joint Ventures - Summary of Financial Information for Unconsolidated Joint Ventures (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule Of Equity Method Investments [Line Items]
Current assets	$ 1,632,351	$ 1,843,130
Total assets	3,830,940	3,937,704
Current liabilities	1,030,784	1,187,409
Total liabilities	1,893,828	2,076,287
Total joint venture equity	1,900,768	1,813,772
Investments in and advances to unconsolidated joint ventures	110,688	68,975
Revenue	3,660,771	3,918,946	$ 3,954,812
Costs	2,807,950	3,042,087	3,123,062
Net income attributable to Parsons Corporation	64,072	98,541	120,534
Equity in earnings of unconsolidated joint ventures	36,862	30,059	41,721
Unconsolidated Joint Ventures
Schedule Of Equity Method Investments [Line Items]
Current assets	1,620,735	774,646
Noncurrent assets	531,261	585,802
Total assets	2,151,996	1,360,448
Current liabilities	1,088,985	703,287
Noncurrent liabilities	669,911	517,697
Total liabilities	1,758,896	1,220,984
Total joint venture equity	393,100	139,464
Investments in and advances to unconsolidated joint ventures	110,688	68,975
Revenue	2,709,305	1,830,802	2,081,341
Costs	2,536,403	1,709,933	1,903,582
Net income attributable to Parsons Corporation	172,902	120,869	177,759
Equity in earnings of unconsolidated joint ventures	$ 36,862	$ 30,059	$ 41,721

Related Party Transactions - Additional Information (Details) - Unconsolidated joint ventures - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Revenues	$ 204.7	$ 172.2	$ 157.3
Reimbursable cost incurred	$ 155.5	$ 133.8	$ 119.1

Related Party Transactions - Schedule of Consolidated Balance Sheet Related to Services Provided to Unconsolidated Joint Ventures (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Contract assets	$ 579,216	$ 576,568
Contract liabilities	171,671	201,864
Unconsolidated Joint Ventures
Related Party Transaction [Line Items]
Accounts receivable	30,246	37,544
Contract assets	16,069	8,889
Contract liabilities	$ 10,605	$ 5,720

Fair Value of Financial Instruments - Summary of Assets Associated with Pension Plan (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Assets, fair value disclosure	$ 13,253	$ 14,033
Mutual Funds
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Assets, fair value disclosure	2,951	2,847
Fixed Income
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Assets, fair value disclosure	9,813	10,615
Cash and Cash Equivalents
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Assets, fair value disclosure	489	571
Level 1
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Assets, fair value disclosure	3,440	3,418
Level 1 \| Mutual Funds
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Assets, fair value disclosure	2,951	2,847
Level 1 \| Fixed Income
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Assets, fair value disclosure	0	0
Level 1 \| Cash and Cash Equivalents
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Assets, fair value disclosure	489	571
Level 2
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Assets, fair value disclosure	9,813	10,615
Level 2 \| Mutual Funds
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Assets, fair value disclosure	0	0
Level 2 \| Fixed Income
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Assets, fair value disclosure	9,813	10,615
Level 2 \| Cash and Cash Equivalents
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Assets, fair value disclosure	0	0
Level 3
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Assets, fair value disclosure	0	0
Level 3 \| Mutual Funds
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Assets, fair value disclosure	0	0
Level 3 \| Fixed Income
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Assets, fair value disclosure	0	0
Level 3 \| Cash and Cash Equivalents
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Assets, fair value disclosure	$ 0	$ 0

Earnings Per Share - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Aug. 31, 2021
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Shares of common stock repurchased				100,000,000.0
Stock repurchase program commencement date	Aug. 12, 2021
Stock repurchase program, remaining authorized repurchase amount	$ 78,300,000
Equity-based Awards
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	11,986	5,327	0

Earnings Per Share - Schedule of Weighted Average Number of Shares Used To Compute Basic and Diluted EPS (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Earnings Per Share [Abstract]
Basic weighted average number of shares outstanding	102,544	100,848	92,419
Stock-based awards	666	357	334
Convertible senior notes	8,917	0	0
Diluted weighted average number of shares outstanding	112,127	101,205	92,753

Earnings Per Share - Net Income Available to Shareholders to Compute Basic and Diluted EPS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Earnings Per Share [Abstract]
Net income attributable to Parsons Corporation	$ 64,072	$ 98,541	$ 120,534
Convertible senior notes if-converted method interest adjustment	2,130
Diluted net income attributable to Parsons Corporation	$ 66,202	$ 98,541	$ 120,534

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

Earnings Per Share - Schedule of Repurchase Program (Details)	12 Months Ended
	Dec. 31, 2021 $ / shares shares
Earnings Per Share [Abstract]
Total shares repurchased	618,533
Total shares retired	618,533
Average price paid per share \| $ / shares	$ 35.08

Segments Information - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($) segment	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| segment	2
Revenues	$ 3,660,771	$ 3,918,946	$ 3,954,812
Property and equipment, net	104,196	121,027	122,751
United States
Segment Reporting Information [Line Items]
Revenues	2,700,000	3,000,000	3,000,000
Property and equipment, net	$ 95,000	$ 109,600	$ 109,900

- Definition

+ References

+ Details

Segments Information - Summary of Business Segment Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Total revenues	$ 3,660,771	$ 3,918,946	$ 3,954,812
Federal Solution Segment
Segment Reporting Information [Line Items]
Total revenues	1,888,050	1,911,910	1,887,907
Critical Infrastructure
Segment Reporting Information [Line Items]
Total revenues	$ 1,772,721	$ 2,007,036	$ 2,066,905

- Definition

+ References

+ Details

Segments Information - Summary of Adjusted EBITDA Business Segment Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Adjusted EBITDA attributable to Parsons Corporation
Adjusted EBITDA attributable to Parsons Corporation	$ 284,433	$ 321,868	$ 307,951
Adjusted EBITDA attributable to noncontrolling interests	25,287	20,753	17,096
Depreciation and amortization	(144,209)	(127,980)	(125,700)
Interest expense, net	(17,301)	(20,169)	(22,429)
Income tax (expense) benefit	(23,636)	(42,492)	69,886
Equity-based compensation	(19,601)	(9,785)	(65,744)
Transaction-related costs	(11,965)	(19,922)	(34,353)
Restructuring	(736)	(2,193)	(3,424)
Other	(3,320)	(1,159)	(6,155)
Net income including noncontrolling interests	88,952	118,921	137,128
Net income attributable to noncontrolling interests	(24,880)	(20,380)	(16,594)
Net income attributable to Parsons Corporation	64,072	98,541	120,534
Federal Solution Segment
Adjusted EBITDA attributable to Parsons Corporation
Adjusted EBITDA attributable to Parsons Corporation	162,733	167,340	169,100
Critical Infrastructure
Adjusted EBITDA attributable to Parsons Corporation
Adjusted EBITDA attributable to Parsons Corporation	$ 121,700	$ 154,528	$ 138,851

Segments Information - Summary of Revenues and Property and Equipment, Net by Geographic Area (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Revenues	$ 3,660,771	$ 3,918,946	$ 3,954,812
Property and equipment, net	104,196	121,027	122,751
North America
Segment Reporting Information [Line Items]
Revenues	3,028,760	3,215,874	3,249,054
Property and equipment, net	100,674	116,460	117,606
Middle East
Segment Reporting Information [Line Items]
Revenues	610,655	684,353	689,067
Property and equipment, net	3,522	4,567	5,145
Rest of World
Segment Reporting Information [Line Items]
Revenues	$ 21,356	$ 18,719	$ 16,691

- Definition

+ References

+ Details

Segments Information - Summary of Revenues by Business Lines (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Revenues	$ 3,660,771	$ 3,918,946	$ 3,954,812
Federal Solution Segment
Segment Reporting Information [Line Items]
Revenues	1,888,050	1,911,910	1,887,907
Federal Solution Segment \| Defense And Intelligence
Segment Reporting Information [Line Items]
Revenues	1,313,731	1,251,304	1,219,639
Federal Solution Segment \| Engineered Systems
Segment Reporting Information [Line Items]
Revenues	574,319	660,606	668,268
Critical Infrastructure
Segment Reporting Information [Line Items]
Revenues	1,772,721	2,007,036	2,066,905
Critical Infrastructure \| Mobility Solutions
Segment Reporting Information [Line Items]
Revenues	1,410,113	1,575,539	1,647,690
Critical Infrastructure \| Connected Communities
Segment Reporting Information [Line Items]
Revenues	$ 362,608	$ 431,497	$ 419,215

- Definition

+ References

+ Details

Schedule II - Valuation and Qualifying Accounts (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

Allowance for Doubtful Accounts

Valuation And Qualifying Accounts Disclosure [Line Items]

Balance at beginning of period

^[1]

$ 4,001

$ 5,497

$ 4,722

Additions

1,201

^[1]

775

^[1]

Deductions

(54)

(2,697)

^[1]

Balance at end of period

3,955

4,001

^[1]

5,497

^[1]

Valuation Allowance on Deferred Tax Assets

Valuation And Qualifying Accounts Disclosure [Line Items]

Balance at beginning of period

23,878

17,359

6,668

Additions

4,873

7,655

10,817

Deductions

(878)

(596)

(32)

Other and foreign exchange impact

(525)

(540)

(94)

Balance at end of period

$ 27,348

$ 23,878

$ 17,359

[1]	In connection with the adoption of ASU 2016-13, we have modified the historical presentation of gross receivables and the allowance for doubtful accounts to reflect only expected credit losses in the allowance in conformity with the current period presentation.

Contracts with Customers - Summary of Remaining Unsatisfied Performance Obligations Expect to Satisfy (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining unsatisfied performance obligations	$ 5,800,000
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining unsatisfied performance obligations	$ 2,888,174
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2023-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining unsatisfied performance obligations	$ 1,573,978
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining unsatisfied performance obligations	$ 1,297,868
Revenue, remaining performance obligation, expected timing of satisfaction, period
Federal Solution Segment \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining unsatisfied performance obligations	$ 1,436,578
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Federal Solution Segment \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2023-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining unsatisfied performance obligations	$ 705,773
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Federal Solution Segment \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining unsatisfied performance obligations	$ 422,666
Revenue, remaining performance obligation, expected timing of satisfaction, period
Critical Infrastructure \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining unsatisfied performance obligations	$ 1,451,596
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Critical Infrastructure \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2023-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining unsatisfied performance obligations	$ 868,205
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Critical Infrastructure \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining unsatisfied performance obligations	$ 875,202
Revenue, remaining performance obligation, expected timing of satisfaction, period