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Discontinued Operations | 12 Months Ended
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Dec. 31, 2015
Discontinued Operations and Disposal Groups [Abstract] |
Discontinued Operations | 4. DISCONTINUED OPERATIONS: On August 4, 2015, Quanta completed the sale of its fiber optic licensing operations to Crown Castle for an aggregate purchase price was approximately $1 billion in cash, resulting in estimated after-tax net proceeds of approximately $848 million. In the third quarter of 2015, Quanta recognized a pre-tax gain of approximately $272 million and a corresponding tax expense of approximately $101 million, which resulted in a gain on the sale, net of tax, of approximately $171 million. Quanta has presented the results of operations, financial position, cash flows and disclosures related to its fiber optic licensing operations as discontinued operations in the accompanying consolidated financial statements. The results were previously included in Quanta’s Fiber Optic Licensing and Other segment. Quanta will remain liable for all taxes and insured claims associated with the fiber optic licensing operations arising on or before or outstanding as of August 4, 2015. The following represents a reconciliation of the major classes of line items constituting income from discontinued operations related to Quanta’s fiber optic licensing operations (in thousands):
|  | Year Ended December 31, |
|  | 2015 |  |  | 2014 |  |  | 2013 |
Major classes of line items constituting pretax income from fiber optic licensing operations: |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 59,998 |  |  | $ | 104,021 |  |  | $ | 111,265 |
Expenses: |  |  |  |  |  |  |  |  |  |  |  |
Cost of services (including depreciation) |  |  | 24,748 |  |  |  | 39,295 |  |  |  | 42,745 |
Selling, general and administrative expenses |  |  | 12,047 |  |  |  | 16,561 |  |  |  | 15,941 |
Amortization of intangible assets |  |  | 963 |  |  |  | 1,650 |  |  |  | 1,650 |
Other income (expense) items that are not major |  |  | 10 |  |  |  | 3 |  |  |  | — |
Net income before taxes of discontinued operations related to fiber optic licensing operations related to major classes of income before taxes |  |  | 22,250 |  |  |  | 46,518 |  |  |  | 50,929 |
Pretax gain on the disposal of the fiber optic licensing operations |  |  | 271,833 |  |  |  | — |  |  |  | — |
Total pretax gain on fiber optic licensing operations |  |  | 294,083 |  |  |  | 46,518 |  |  |  | 50,929 |
Provision for income taxes related to fiber optic licensing operations |  |  | 103,462 |  |  |  | 18,401 |  |  |  | 21,065 |
Net income from discontinued operations related to fiber optic licensing operations |  |  | 190,621 |  |  |  | 28,117 |  |  |  | 29,864 |
Net loss from discontinued operations related to telecommunication operations |  |  | — |  |  | $ | (627 | ) |  | $ | — |
Net income from discontinued operations as presented in the statements of operations |  | $ | 190,621 |  |  | $ | 27,490 |  |  | $ | 29,864 |
The following represents a reconciliation of the carrying amounts of major classes of assets and liabilities of fiber optic licensing operations (in thousands):
|  | December 31, 2015 |  |  | December 31, 2014 |
Carrying amounts of major classes of assets included as part of fiber optic licensing operations: |  |  |  |  |  |  |  |
Current assets: |  |  |  |  |  |  |  |
Accounts receivable |  | $ | — |  |  | $ | 11,429 |
Prepaid expenses and other current assets |  |  | — |  |  |  | 2,258 |
Total current assets of fiber optic licensing operations |  | $ | — |  |  | $ | 13,687 |
Non-current assets: |  |  |  |  |  |  |  |
Property and equipment |  | $ | — |  |  | $ | 380,554 |
Other intangible assets, net of accumulated amortization |  |  | — |  |  |  | 17,009 |
Goodwill |  |  | — |  |  |  | 334,790 |
Total major classes of non-current assets of fiber optic licensing operations |  |  | — |  |  |  | 732,353 |
Other non-current assets included in fiber optic licensing operations |  |  | — |  |  |  | 6,709 |
Total non-current assets of fiber optic licensing operations |  | $ | — |  |  | $ | 739,062 |
Carrying amounts of major classes of liabilities of fiber optic licensing operations: |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |
Accounts payable and accrued expenses |  | $ | 15,313 |  |  | $ | 21,091 |
Total current liabilities of fiber optic licensing operations |  | $ | 15,313 |  |  | $ | 21,091 |
Non-current liabilities: |  |  |  |  |  |  |  |
Deferred income taxes |  | $ | — |  |  | $ | 57,108 |
Long-term deferred revenue |  |  | — |  |  |  | 48,231 |
Total major classes of non-current liabilities of fiber optic licensing operations |  |  | — |  |  |  | 105,339 |
Other non-current liabilities of fiber optic licensing operations |  |  | — |  |  |  | 193 |
Total non-current liabilities of fiber optic licensing operations |  | $ | — |  |  | $ | 105,532 |
Additionally, on December 3, 2012, Quanta sold substantially all of its domestic telecommunications infrastructure services operations and related subsidiaries. During the year ended December 31, 2014, legal fees of $1.0 million were accrued related to an ongoing legal matter associated with these discontinued operations. The net of tax impact of these legal fees was $0.6 million. See Legal Proceedings — Lorenzo Benton v. Telecom Network Specialists, Inc., et al. in Note 15 for additional information.

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