PARSONS CORP
For the period ended Sep 30, 2024. Filed Oct 30, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Oct 30, 2024
PSN$48.90-2.9%Stored close · as of Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets
(in thousands, except share information)
| September 30, 2024 · December 31, 2023 | ||
|---|---|---|
| (Unaudited) | ||
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents (including $132,662 and $128,761 Cash of consolidated joint ventures) | $558,823 | $272,943 |
| Accounts receivable, net (including $348,892 and $274,846 Accounts receivable of consolidated joint ventures, net) | 1,034,976 | 915,638 |
| Contract assets (including $6,260 and $11,096 Contract assets of consolidated joint ventures) | 790,001 | 757,515 |
| Prepaid expenses and other current assets (including $15,284 and $11,929 Prepaid expenses and other current assets of consolidated joint ventures) | 170,858 | 191,430 |
| Total current assets | 2,554,658 | 2,137,526 |
| Property and equipment, net (including $3,235 and $3,274 Property and equipment of consolidated joint ventures, net) | 101,193 | 98,957 |
| Right of use assets, operating leases (including $6,879 and $9,885 Right of use assets, operating leases of consolidated joint ventures) | 135,367 | 159,211 |
| Goodwill | 1,931,157 | 1,792,665 |
| Investments in and advances to unconsolidated joint ventures | 194,524 | 128,204 |
| Intangible assets, net | 307,952 | 275,566 |
| Deferred tax assets | 163,539 | 140,162 |
| Other noncurrent assets | 54,952 | 71,770 |
| Total assets | $5,443,342 | $4,804,061 |
| Liabilities and Shareholders' Equity | ||
| Current liabilities: | ||
| Accounts payable (including $65,426 and $49,234 Accounts payable of consolidated joint ventures) | $300,217 | $242,821 |
| Accrued expenses and other current liabilities (including $173,190 and $145,040 Accrued expenses and other current liabilities of consolidated joint ventures) | 876,583 | 801,423 |
| Contract liabilities (including $64,899 and $61,234 Contract liabilities of consolidated joint ventures) | 300,799 | 301,107 |
| Short-term lease liabilities, operating leases (including $3,962 and $4,753 Short-term lease liabilities, operating leases of consolidated joint ventures) | 51,971 | 58,556 |
| Income taxes payable | 4,556 | 6,977 |
| Short-term debt | 115,428 | - |
| Total current liabilities | 1,649,554 | 1,410,884 |
| Long-term employee incentives | 27,553 | 22,924 |
| Long-term debt | 1,132,980 | 745,963 |
| Long-term lease liabilities, operating leases (including $2,916 and $5,132 Long-term lease liabilities, operating leases of consolidated joint ventures) | 97,838 | 117,505 |
| Deferred tax liabilities | 27,931 | 9,775 |
| Other long-term liabilities | 93,055 | 120,295 |
| Total liabilities | 3,028,911 | 2,427,346 |
| Contingencies (Note 12) | ||
| Shareholders' equity: | ||
| Common stock, $1 par value; authorized 1,000,000,000 shares; 146,703,583 and 146,341,363 shares issued; 51,357,743 and 45,960,122 public shares outstanding; 54,831,932 and 59,879,857 ESOP shares outstanding | 146,703 | 146,341 |
| Treasury stock, 40,501,385 shares at cost | (827,311) | (827,311) |
| Additional paid-in capital | 2,781,868 | 2,779,365 |
| Retained earnings | 227,334 | 203,724 |
| Accumulated other comprehensive loss | (16,142) | (14,908) |
| Total Parsons Corporation shareholders' equity | 2,312,452 | 2,287,211 |
| Noncontrolling interests | 101,979 | 89,504 |
| Total shareholders' equity | 2,414,431 | 2,376,715 |
| Total liabilities and shareholders' equity | 5,443,342 | 4,804,061 |
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