PARSONS CORP
For the period ended Sep 30, 2024. Filed Oct 30, 2024.
View on SEC.govAbout this filing
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$51.56+0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Cash Flows
| For the Nine Months Ended | ||
|---|---|---|
| September 30, 2024 · September 30, 2023 | ||
| Cash flows from operating activities: | ||
| Net income including noncontrolling interests | $74,196 | $149,858 |
| Adjustments to reconcile net (loss) income to net cash used in operating activities | ||
| Depreciation and amortization | 73,513 | 87,202 |
| Amortization of debt issue costs | 6,563 | 2,124 |
| Loss (gain) on disposal of property and equipment | 573 | (27) |
| Loss on extinguishment of debt | 211,018 | - |
| Provision for doubtful accounts | - | 91 |
| Deferred taxes | (1,015) | (8,205) |
| Foreign currency transaction gains and losses | 898 | 1,479 |
| Equity in losses (earnings) of unconsolidated joint ventures | 18,025 | (4,497) |
| Return on investments in unconsolidated joint ventures | 31,770 | 30,328 |
| Stock-based compensation | 39,960 | 23,872 |
| Contributions of treasury stock | 43,372 | 44,072 |
| Changes in assets and liabilities, net of acquisitions and consolidated joint ventures: | ||
| Accounts receivable | (116,468) | (168,964) |
| Contract assets | (29,597) | (120,414) |
| Prepaid expenses and other assets | 32,884 | (40,470) |
| Accounts payable | 56,665 | 48,294 |
| Accrued expenses and other current liabilities | 25,654 | 93,263 |
| Contract liabilities | 343 | 61,503 |
| Income taxes | (48,912) | 17,395 |
| Other long-term liabilities | (22,602) | 662 |
| Net cash provided by operating activities | 396,840 | 217,566 |
| Cash flows from investing activities: | ||
| Capital expenditures | (30,446) | (30,877) |
| Proceeds from sale of property and equipment | 128 | 274 |
| Payments for acquisitions, net of cash acquired | (198,875) | (215,497) |
| Investments in unconsolidated joint ventures | (115,446) | (81,598) |
| Return of investments in unconsolidated joint ventures | 25 | 72 |
| Proceeds from sales of investments in unconsolidated joint ventures | - | 381 |
| Net cash used in investing activities | (344,614) | (327,245) |
| Cash flows from financing activities: | ||
| Proceeds from borrowings under credit agreement | 153,200 | 511,500 |
| Repayments of borrowings under credit agreement | (153,200) | (436,500) |
| Proceeds from issuance of convertible notes due 2029 | 800,000 | - |
| Repurchases of convertible notes due 2025 | (495,590) | - |
| Payments for debt issuance costs | (19,185) | - |
| Contributions by noncontrolling interests | 1,038 | 1,537 |
| Distributions to noncontrolling interests | (29,006) | (12,156) |
| Repurchases of common stock | (10,000) | (8,000) |
| Taxes paid on vested stock | (19,228) | (6,941) |
| Capped call transactions | (88,400) | - |
| Bond hedge termination | 195,549 | - |
| Redemption of warrants | (104,952) | - |
| Proceeds from issuance of common stock | 3,740 | 2,940 |
| Net cash provided by financing activities | 233,966 | 52,380 |
| Effect of exchange rate changes | (312) | 166 |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 285,880 | (57,133) |
| Cash, cash equivalents and restricted cash: | ||
| Beginning of year | 272,943 | 262,539 |
| End of period | $558,823 | $205,406 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.