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Quarterly Financial Data (Unaudited) | 12 Months Ended
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Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Financial Data (Unaudited) | QUARTERLY FINANCIAL DATA (UNAUDITED): The table below sets forth the unaudited consolidated operating results by quarter for the years ended December 31, 2017 and 2016 (in thousands, except per share information).
|  | For the Three Months Ended
|  | March 31, |  | June 30, |  | September 30, |  | December 31,
2017: |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 2,178,170 |  |  | $ | 2,200,374 |  |  | $ | 2,609,307 |  |  | $ | 2,478,627 |
Gross profit |  | 266,188 |  |  | 302,165 |  |  | 350,631 |  |  | 322,876 |
Net income |  | 48,440 |  |  | 64,360 |  |  | 89,849 |  |  | 115,576 |
Net income attributable to common stock |  | 48,267 |  |  | 63,837 |  |  | 89,313 |  |  | 113,561 |
Net income from continuing operations attributable to common stock |  | 48,267 |  |  | 63,837 |  |  | 89,313 |  |  | 113,561 |
Basic earnings per share from continuing operations attributable to common stock |  | $ | 0.31 |  |  | $ | 0.41 |  |  | $ | 0.57 |  |  | $ | 0.72 |
Diluted earnings per share from continuing operations attributable to common stock |  | $ | 0.31 |  |  | $ | 0.41 |  |  | $ | 0.56 |  |  | $ | 0.72 |
2016: |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 1,713,737 |  |  | $ | 1,792,430 |  |  | $ | 2,042,186 |  |  | $ | 2,102,966 |
Gross profit |  | 203,313 |  |  | 200,217 |  |  | 302,582 |  |  | 307,688 |
Net income |  | 20,859 |  |  | 16,729 |  |  | 74,152 |  |  | 88,358 |
Net income attributable to common stock |  | 20,496 |  |  | 16,562 |  |  | 73,742 |  |  | 87,583 |
Net income from continuing operations attributable to common stock |  | 20,496 |  |  | 16,562 |  |  | 73,137 |  |  | 88,530 |
Basic earnings per share from continuing operations attributable to common stock |  | $ | 0.13 |  |  | $ | 0.11 |  |  | $ | 0.47 |  |  | $ | 0.57 |
Diluted earnings per share from continuing operations attributable to common stock |  | $ | 0.13 |  |  | $ | 0.11 |  |  | $ | 0.47 |  |  | $ | 0.57 |
During the fourth quarter of 2017, Quanta recorded one-time tax benefits as further described in Note 10 and asset impairment charges of $58.1 million ($36.6 million net of tax), which were primarily associated with two reporting units within its Oil and Gas Infrastructure Services Division. Specifically, a reporting unit that provides material handling services experienced lower operating margins and is expected to continue to face a highly competitive environment in its select markets, and a reporting unit that provides marine and offshore services experienced prolonged periods of reduced revenues and operating margins and is expected to continue to experience lower levels of activity in the U.S. Gulf of Mexico and other offshore markets. During the fourth quarter of 2016, Quanta recorded total asset impairment charges of $8.0 million ($7.1 million net of tax) primarily related to a pending disposition of certain international renewable energy services operations, which was completed in 2017. The sum of the individual quarterly earnings per share amounts may not equal year-to-date earnings per share as each period’s computation is based on the weighted average number of shares outstanding during the period.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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