The parallel sum A : B of two bounded positive linear operators A, B on a Hilbert space H is defined to be the positive operator having the quadratic form inf{(A(x − y) | x − y) + (By | y) | y ∈ H}for fixed x ∈ H. The purpose of this paper is to provide a factorization of the parallel sum of the form J A P J * A where J A is the embedding operator of an auxiliary Hilbert space associated with A and B, and P is an orthogonal projection onto a certain linear subspace of that Hilbert space. We give similar factorizations of the parallel sum of nonnegative Hermitian forms, positive operators of a complex Banach space E into its topological anti-dualĒ ′ , and of representable positive functionals on a * -algebra.1991 Mathematics Subject Classification. Primary 47B25, 47B65, Secondary 28A12, 46K10.