Acquisitions (Tables)

9 Months Ended

Sep. 30, 2015

Business Acquisition Purchase Price Allocation Assets Acquired and Liabilities Assumed

This allocation requires a significant use of estimates and is based on information that was available to management at the time these consolidated financial statements were prepared (in thousands).


	2015			2014
Consideration:
Value of Quanta common stock and exchangeable shares issued	$	10,127		$	134,538
Cash paid or payable		98,941			279,533
Contingent consideration		1,001			—

Fair value of total consideration transferred or estimated to be transferred	$	110,069		$	414,071

Current assets	$	30,763		$	172,121
Property and equipment		42,839			159,186
Other assets		4			3,501
Identifiable intangible assets		21,668			96,302
Current liabilities		(22,317	)		(145,646	)
Deferred tax liabilities, net		(7,583	)		(32,856	)
Other long-term liabilities		(5,606	)		(4,926	)
Non-controlling interests		747			—

Total identifiable net assets		60,515			247,682
Goodwill		49,554			166,389

	$	110,069		$	414,071

Estimated Fair Values of Identifiable Intangible Assets and Related Weighted Average Amortization

The following table summarizes the estimated fair values of identifiable intangible assets and the related weighted average amortization periods by type as of the respective acquisition dates for the 2015 acquisitions (in thousands, except for weighted average amortization periods, which are in years).


	Estimated Fair Value at Acquisition Date		Weighted Average Amortization Period at Acquisition Date
Customer relationships	$	13,856		13.5
Backlog		2,118		1.1
Trade names		3,752		8.4
Non-compete agreements		1,942		5.0

Total intangible assets subject to amortization acquired in 2015 acquisitions	$	21,668		10.6

Unaudited Supplemental Pro Forma Results of Operations

Future results may vary significantly from the results reflected in the following pro forma financial information because of future events and transactions, as well as other factors (in thousands, except per share amounts):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
Revenues	$	1,943,906	$	2,316,002	$	5,722,741	$	6,313,290
Gross profit	$	236,364	$	353,021	$	713,434	$	920,610
Selling, general and administrative expenses	$	146,224	$	203,797	$	447,462	$	533,555
Amortization of intangible assets	$	8,694	$	11,868	$	26,230	$	34,745
Net income from continuing operations	$	46,032	$	96,598	$	137,039	$	235,320
Net income from continuing operations attributable to common stock	$	43,464	$	91,231	$	126,314	$	221,351

Earnings per share from continuing operations attributable to common stock — basic and diluted	$	0.23	$	0.41	$	0.61	$	0.99