Acquisitions (Tables)

12 Months Ended

Dec. 31, 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		110,428			279,533
Contingent consideration		1,001			—

Fair value of total consideration transferred or estimated to be transferred	$	121,556		$	414,071

Current assets	$	35,188		$	172,121
Property and equipment		44,140			159,186
Other assets		4			3,501
Identifiable intangible assets		24,987			96,302
Current liabilities		(24,633	)		(145,646	)
Deferred tax liabilities, net		(5,131	)		(32,856	)
Other long-term liabilities		(5,606	)		(4,926	)
Non-controlling interests		747			—

Total identifiable net assets		69,696			247,682
Goodwill		51,860			166,389

	$	121,556		$	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	$	16,257		13.7
Backlog		2,552		1.3
Trade names		4,002		8.8
Non-compete agreements		2,176		5.0

Total intangible assets subject to amortization acquired in 2015 acquisitions	$	24,987		10.9

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):


	Year Ended December 31,
	2015		2014		2013
Revenues	$	7,635,932	$	8,476,584	$	7,629,310
Gross profit	$	939,452	$	1,248,827	$	1,185,691
Selling, general and administrative expenses	$	600,057	$	745,321	$	563,877
Amortization of intangible assets	$	36,479	$	47,777	$	50,755
Net income from continuing operations	$	135,467	$	303,772	$	451,399
Net income from continuing operations attributable to common stock	$	124,550	$	285,404	$	432,011
Earnings per share from continuing operations attributable to common stock — basic and diluted	$	0.64	$	1.28	$	1.95