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Subsequent Events | 9 Months Ended
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Sep. 30, 2013
Subsequent Events [Abstract] |
Subsequent Events |
12. | SUBSEQUENT EVENTS:
Acquisitions During the fourth quarter of 2013, Quanta has completed three acquisitions. One of the acquired companies specializes in mechanical installations for the offshore oil and gas industry with operations primarily in the Gulf of Mexico and select offshore international markets. The second acquired company specializes in pipeline logistics with operations throughout the U.S., primarily in the shale regions. The third acquired company is an electric power infrastructure services contractor with operations in western regions of the U.S. The aggregate consideration paid for these acquisitions consisted of approximately $180.8 million in cash and 2,747,412 shares of Quanta common stock valued at approximately $69.3 million. As these transactions were effective during the fourth quarter of 2013, the results will be included in Quanta’s consolidated financial statements beginning on the respective dates of acquisition. These acquisitions should enable Quanta to further enhance its electric power infrastructure service and natural gas and pipeline infrastructure service offerings in the United States and select international markets. Amended Credit Facility On October 30, 2013, Quanta entered into an amended and restated credit agreement with various lenders that provides for a $1.325 billion senior secured revolving credit facility, with an option to increase the facility to $1.625 billion, maturing October 30, 2018. Interest rates and terms are generally consistent with the terms of the previous credit facility. The $1.325 billion senior secured revolving credit facility also increases Quanta’s ability to borrow funds and provide letters of credit in foreign currencies, subject to certain multi-currency sublimits.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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