Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2014

Significant Estimates Used by Management in Determining Fair Values of Company's Reporting Units

The following table presents the significant estimates used by management in determining the fair values of Quanta’s reporting units at December 31, 2014, 2013 and 2012:


	Operating Units Providing Predominantly Electric Power and Oil and Gas Infrastructure Services			Operating Unit Providing Fiber Optic Licensing
	2014	2013	2012	2014	2013	2012
Years of cash flows before terminal value	5	5	5	15	15	15
Discount rates	12% to 14%	12% to 14%	12% to 13%	12%	12%	12%
EBITDA multiples	5.0 to 6.0	5.0 to 8.0	4.5 to 8.0	9.5	9.5	9.5
Weighting of three approaches:
Discounted cash flows	70%	70%	70%	90%	90%	90%
Market multiple	15%	15%	15%	5%	5%	5%
Market capitalization	15%	15%	15%	5%	5%	5%

Minimum Future Licensing Revenue

Minimum future licensing revenues expected to be recognized by Quanta pursuant to these agreements at December 31, 2014 were as follows (in thousands):


	Minimum Future Licensing Revenues
Year Ending December 31 —
2015	$	90,549
2016		74,933
2017		62,348
2018		48,950
2019		32,775
Thereafter		124,739

Fixed non-cancelable minimum licensing revenues	$	434,294