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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Income Tax Disclosure [Abstract]

Components of Income Before Income Taxes

The components of income from continuing operations before income taxes are as follows (in thousands):

		Year Ended December 31,
		2013				2012				2011
Income from continuing operations before income taxes:
Domestic		$	523,745			$	390,734			$	181,520
Foreign			115,504				73,846				11,988
Total		$	639,249			$	464,580			$	193,508

Provision for Income Taxes

The components of the provision for income taxes for continuing operations are as follows (in thousands):

		Year Ended December 31,
		2013				2012				2011
Current:
Federal		$	173,930			$	109,272			$	42,874
State			23,287				12,397				11,998
Foreign			37,193				14,657				7,668
Total current tax provision			234,410				136,326				62,540
Deferred:
Federal			(15,457	)			16,134				4,487
State			(451	)			1,627				965
Foreign			(562	)			4,772				(4,896	)
Total deferred tax provision (benefit)			(16,470	)			22,533				556
Total provision for income taxes		$	217,940			$	158,859			$	63,096

Effective Income Tax Rate Reconciliation

The actual income tax provision differs from the income tax provision computed by applying the U.S. federal statutory corporate rate to income from continuing operations before provision for income taxes as follows (in thousands):

		Year Ended December 31,
		2013				2012				2011
Provision at the statutory rate		$	223,737			$	162,603			$	67,727
Increases (decreases) resulting from —
State taxes			14,788				10,980				6,375
Foreign taxes			(9,994	)			(5,841	)			(2,815	)
Contingency reserves, net			(3,422	)			(3,880	)			(7,262	)
Production activity deduction			(10,247	)			(7,081	)			(2,394	)
Employee per diems, meals and entertainment			7,960				6,441				4,149
Taxes on unincorporated joint ventures			(6,786	)			(5,609	)			(4,142	)
Other			1,904				1,246				1,458
		$	217,940			$	158,859			$	63,096

Deferred Tax Assets and Liabilities

Deferred income taxes result from temporary differences in the recognition of income and expenses for financial reporting purposes and tax purposes. Deferred tax assets and liabilities as of December 31, 2012 have been reclassified to be consistent with changes in the presentation of book/tax method differences as of December 31, 2013. The tax effects of these temporary differences, representing deferred tax assets and liabilities, result principally from the following (in thousands):

		December 31,
		2013				2012
Deferred income tax liabilities —
Property and equipment		$	(218,739	)		$	(205,977	)
Goodwill			(58,643	)			(48,201	)
Other intangibles			(42,604	)			(46,661	)
Book/tax accounting method difference			(50,764	)			(54,768	)
Total deferred income tax liabilities			(370,750	)			(355,607	)
Deferred income tax assets —
Accruals and reserves			64,944				42,966
Accrued insurance			59,640				53,163
Deferred revenue			15,336				16,259
Net operating loss carryforwards			20,828				17,115
Other			26,229				20,540
Subtotal			186,977				150,043
Valuation allowance			(15,644	)			(9,344	)
Total deferred income tax assets			171,333				140,699
Total net deferred income tax liabilities		$	(199,417	)		$	(214,908	)

Net Deferred Income Tax Assets and Liabilities

The net deferred income tax assets and liabilities are comprised of the following (in thousands):

		December 31,
		2013				2012
Current deferred income taxes:
Assets		$	84,244			$	51,570
Liabilities			(39,405	)			(41,428	)
			44,839				10,142
Non-current deferred income taxes:
Assets			87,089				89,129
Liabilities			(331,345	)			(314,179	)
			(244,256	)			(225,050	)
Total net deferred income tax liabilities		$	(199,417	)		$	(214,908	)

Reconciliation of Unrecognized Tax Benefit

A reconciliation of unrecognized tax benefit balances is as follows (in thousands):

		December 31,
		2013				2012				2011
Balance at beginning of year		$	51,244			$	47,379			$	50,632
Additions based on tax positions related to the current year			9,073				15,411				10,133
Additions for tax positions of prior years			—				1,607				131
Reductions for tax positions of prior years			—				(293	)			—
Reductions for audit settlements			—				(895	)			(4,877	)
Reductions resulting from a lapse of the applicable statute of limitations periods			(11,479	)			(11,965	)			(8,640	)
Balance at end of year		$	48,838			$	51,244			$	47,379

Balances of Unrecognized Tax Benefits

The balances of unrecognized tax benefits, the amount of related interest and penalties and what Quanta believes to be the range of reasonably possible changes in the next 12 months are as follows (in thousands):

		December 31,
		2013				2012				2011
Unrecognized tax benefits		$	48,838			$	51,244			$	47,379
Portion that, if recognized, would reduce tax expense and effective tax rate			40,562				43,910				39,824
Accrued interest on unrecognized tax benefits			5,837				6,088				7,180
Accrued penalties on unrecognized tax benefits			99				127				163
Reasonably possible reduction to the balance of unrecognized tax benefits in succeeding 12 months		$	0 to $6,722			$	0 to $11,479			$	0 to $12,110
Portion that, if recognized, would reduce tax expense and effective tax rate		$	0 to $4,984			$	0 to $9,645			$	0 to $10,221

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

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