← PARSONS CORP
| Annual Trend | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Net income including noncontrolling interests | $239.4m | $137.1m | $118.9m | $89.0m | $126.6m | $207.9m | $290.7m | $308.9m | |
| Depreciation and amortization | $69.9m | $125.7m | $128.0m | $144.2m | $120.5m | $120.0m | $99.3m | $116.5m | |
| Amortization of debt issue costs | $721k | $973k | $1.4m | $2.8m | $3.0m | $2.8m | $7.8m | $5.1m | |
| Deferred taxes | ($1.4m) | ($123.3m) | $1.3m | ($3.5m) | ($844k) | ($8.9m) | $6.1m | $44.3m | |
| Loss (gain) on disposal of property and equipment | $780k | $1.0m | $116k | $338k | ($164k) | $206k | $948k | $639k | |
| Provision for doubtful accounts | $5.3m | $290k | ($1.5m) | $8k | $57k | $32k | $0 | $0 | |
| Foreign currency transaction gains and losses | $5.2m | $4.5m | ($493k) | $4.9m | $2.0m | ($330k) | $6.9m | ($5.5m) | |
| Equity in losses (earnings) of unconsolidated joint ventures | ($36.9m) | ($41.7m) | ($30.1m) | ($36.9m) | ($16.3m) | $47.8m | $23.4m | ($2.6m) | |
| Return on investments in unconsolidated joint ventures | $35.2m | $51.1m | $41.5m | $24.5m | $28.4m | $49.0m | $40.2m | $41.2m | |
| Stock-based compensation | $0 | $8.3m | $15.2m | $20.2m | $23.0m | $34.4m | $56.1m | $43.2m | |
| Contributions of treasury stock | $45.2m | $53.6m | $55.3m | $54.9m | $54.7m | $58.2m | $59.8m | $73.7m | |
| Accounts receivable | $461.3m | ($30.2m) | ($8.6m) | $99.9m | ($117.3m) | ($176.2m) | ($163.1m) | $10.9m | |
| Contract assets | ($480.1m) | ($50.0m) | $9.2m | $1.5m | ($32.0m) | ($119.9m) | $31.9m | ($163.1m) | |
| Prepaid expenses and other assets | ($23.7m) | ($22.1m) | $11.5m | ($18.8m) | ($1.4m) | ($95.4m) | $35.8m | ($16.2m) | |
| Accounts payable | $5.6m | ($17.1m) | $1.5m | ($31.8m) | ($717k) | $24.5m | ($42.7m) | $23.3m | |
| Accrued expenses and other current liabilities | $30.4m | $78.4m | $3.4m | ($74.7m) | $3.9m | $163.4m | $80.0m | ($30.3m) | |
| Contract liabilities | $205.0m | $20.1m | ($29.7m) | ($30.4m) | $41.3m | $84.4m | ($11.3m) | $34.9m | |
| Income taxes | $17.1m | $60.5m | $55.4m | $22.5m | $32.2m | $74.1m | $65.3m | $3.6m | |
| Other long-term liabilities | $20.5m | $29.0m | ($28.5m) | ($43.5m) | $6.6m | $12.9m | ($16.0m) | ($10.2m) | |
| Proceeds from sale of property and equipment | $439k | $3.8m | $1.5m | $1.3m | $771k | $546k | $179k | $842k | |
| Payments for acquisitions, net of cash acquired | ($481.2m) | ($494.8m) | ($302.9m) | ($198.3m) | ($379.5m) | ($221.9m) | ($428.7m) | ($145.1m) | |
| Investments in unconsolidated joint ventures | ($4.7m) | ($24.6m) | ($11.0m) | ($38.5m) | ($17.6m) | ($119.6m) | ($133.9m) | ($83.6m) | |
| Return of investments in unconsolidated joint ventures | $11.4m | $12.4m | $53k | $772k | $9.4m | $5.0m | $55.0m | $40.2m | |
| Proceeds from borrowings under credit agreement | $260.0m | $597.2m | $212.9m | $0 | $916.0m | $620.9m | $153.2m | $243.7m | |
| Repayments of borrowings under credit agreement | ($80.0m) | ($777.2m) | ($212.9m) | ($50.0m) | ($916.0m) | ($620.9m) | ($153.2m) | ($243.7m) | |
| Proceeds from issuance of convertible notes due 2029 | — | — | — | — | $0 | $0 | $800.0m | $0 | |
| Repurchases of convertible notes due 2025 | — | — | — | — | $0 | $0 | ($497.6m) | ($113.4m) | |
| Proceeds from term loan | — | — | $0 | $0 | $350.0m | $0 | $0 | $450.0m | |
| Repayment of delayed draw term loan | — | — | — | — | — | — | — | ($350.0m) | |
| Capped call transactions | — | — | — | — | $0 | $0 | ($88.4m) | $0 | |
| Bond hedge termination | — | — | — | — | $0 | $0 | $195.5m | $0 | |
| Redemption of warrants | — | — | — | — | $0 | $0 | ($105.0m) | $0 | |
| Beginning of year | $446.1m | $281.2m | $487.2m | $343.9m | $262.5m | $272.9m | $453.5m | $466.4m | |
| Interest | $16.8m | $23.3m | $14.2m | $15.0m | $20.8m | $30.3m | $34.4m | $43.8m | |
| Net cash provided by operating activities | $284.6m | $220.2m | $289.2m | $205.6m | $237.5m | $407.7m | $523.6m | $478.4m | |
| Capital expenditures | ($29.3m) | ($67.6m) | ($34.0m) | ($21.1m) | ($30.6m) | ($40.4m) | ($49.2m) | ($68.0m) | |
| Proceeds from sales of investments in unconsolidated joint ventures | — | $0 | $0 | $14.8m | $0 | $381k | $0 | $0 | |
| Net cash used in investing activities | ($503.3m) | ($570.8m) | ($346.4m) | ($240.9m) | ($417.5m) | ($376.0m) | ($556.7m) | ($255.6m) | |
| Payments for debt issuance costs | ($545k) | ($286k) | $0 | ($1.9m) | ($862k) | $0 | ($19.2m) | ($2.6m) | |
| Convertible debt repurchase loss | — | — | — | — | $0 | $0 | $18.4m | $0 | |
| Proceeds from issuance of common stock | $0 | $536.9m | $4.4m | $5.6m | $5.4m | $6.1m | $7.9m | $8.9m | |
| Repurchases of common stock | — | ($6.3m) | $0 | ($21.7m) | ($22.0m) | ($11.0m) | ($25.0m) | ($125.0m) | |
| Contributions by noncontrolling interests | $20.7m | $10.1m | $2.2m | $1.8m | $10.3m | $2.9m | $2.2m | $1.6m | |
| Distributions to noncontrolling interests | ($18.9m) | ($42.3m) | ($5.8m) | ($37.9m) | ($24.1m) | ($12.5m) | ($29.2m) | ($63.3m) | |
| Net cash provided by (used in) financing activities | $55.4m | $266.0m | $348.2m | ($106.5m) | $100.4m | ($21.9m) | $218.7m | ($214.1m) | |
| Effect of exchange rate changes | ($1.7m) | ($1.3m) | $823k | ($1.5m) | ($1.8m) | $546k | ($5.0m) | $4.1m | |
| Net increase (decrease) in cash, cash equivalents and restricted cash | ($164.9m) | ($85.8m) | $291.8m | ($143.3m) | ($81.3m) | $10.4m | $180.6m | $12.8m | |
| Taxes paid on vested stock | $0 | $0 | ($1.1m) | ($2.2m) | ($7.0m) | ($7.3m) | ($22.6m) | ($20.3m) |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.