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Acquisitions (Tables) | 6 Months Ended
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Jun. 30, 2016
Business Combinations [Abstract] |
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).
|  | 2016 |  |  | 2015 |
Consideration: |  |  |  |  |  |  |  |
Value of Quanta common stock and exchangeable shares issued |  | $ | — |  |  | $ | 10,127 |
Cash paid or payable |  |  | 42,211 |  |  |  | 110,428 |
Contingent consideration |  |  | 15,400 |  |  |  | 1,001 |
Fair value of total consideration transferred or estimated to be transferred |  | $ | 57,611 |  |  | $ | 121,556 |
Current assets |  | $ | 16,489 |  |  | $ | 35,188 |
Property and equipment |  |  | 30,649 |  |  |  | 44,140 |
Other assets |  |  | 1,972 |  |  |  | 4 |
Identifiable intangible assets |  |  | 8,327 |  |  |  | 24,987 |
Current liabilities |  |  | (7,349 | ) |  |  | (24,633 | )
Deferred tax liabilities, net |  |  | (13,267 | ) |  |  | (4,912 | )
Other long-term liabilities |  |  | (5,326 | ) |  |  | (5,606 | )
Non-controlling interests |  |  | — |  |  |  | 747 |
Total identifiable net assets |  |  | 31,495 |  |  |  | 69,915 |
Goodwill |  |  | 26,116 |  |  |  | 51,641 |
|  | $ | 57,611 |  |  | $ | 121,556 |
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 2016 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 in Years |
Customer relationships |  | $ | 4,814 |  |  |  | 3.3 |
Backlog |  |  | 822 |  |  |  | 3.1 |
Trade names |  |  | 2,448 |  |  |  | 15.0 |
Non-compete agreements |  |  | 243 |  |  |  | 5.0 |
Total intangible assets subject to amortization acquired in 2016 acquisitions |  | $ | 8,327 |  |  |  | 6.8 |
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 June 30, |  |  | Six Months Ended June 30, |
|  | 2016 |  |  | 2015 |  |  | 2016 |  |  | 2015 |
Revenues |  | $ | 1,792,430 |  |  | $ | 1,916,000 |  |  | $ | 3,513,472 |  |  | $ | 3,835,457 |
Gross profit |  | $ | 200,217 |  |  | $ | 235,282 |  |  | $ | 403,682 |  |  | $ | 484,237 |
Selling, general and administrative expenses |  | $ | 156,607 |  |  | $ | 154,023 |  |  | $ | 315,817 |  |  | $ | 305,998 |
Amortization of intangible assets |  | $ | 8,141 |  |  | $ | 9,910 |  |  | $ | 15,792 |  |  | $ | 19,648 |
Net income from continuing operations |  | $ | 16,729 |  |  | $ | 37,053 |  |  | $ | 37,069 |  |  | $ | 91,347 |
Net income from continuing operations attributable to common stock |  | $ | 16,562 |  |  | $ | 33,597 |  |  | $ | 36,539 |  |  | $ | 83,190 |
Earnings per share from continuing operations attributable to common stock — basic and diluted |  | $ | 0.11 |  |  | $ | 0.16 |  |  | $ | 0.23 |  |  | $ | 0.39 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2)-(3) -URI http://asc.fasb.org/extlink&oid=65885119&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of finite-lived and indefinite-lived intangible assets acquired as part of a business combination. + References No definition available. + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=73530397&loc=d3e4845-128472 + Details
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