XML 33 R23.htm IDEA: XBRL DOCUMENT v3.19.2

Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2019

Accounting Policies [Abstract]

Revenue Disaggregated by Geographic Location and Contract Type

The following tables present Quanta’s revenue disaggregated by geographic location and contract type for the three and six months ended June 30, 2019 and 2018 (in thousands):

		Three Months Ended June 30,														Six Months Ended June 30,
		2019							2018							2019							2018
By primary geographic location:
United States		$	2,561,924			90.3	%		$	2,193,437			82.5	%		$	4,762,539			84.3	%		$	3,905,864			77.0	%
Canada		202,221				7.1	%		315,173				11.9	%		687,651				12.2	%		853,531				16.8	%
Australia		36,886				1.3	%		113,880				4.3	%		78,210				1.4	%		233,337				4.6	%
Latin America and Other		38,168				1.3	%		33,858				1.3	%		118,058				2.1	%		81,192				1.6	%
Total revenues		$	2,839,199			100.0	%		$	2,656,348			100.0	%		$	5,646,458			100.0	%		$	5,073,924			100.0	%

		Three Months Ended June 30,														Six Months Ended June 30,
		2019							2018							2019							2018
By contract type:
Unit-price contracts		$	1,020,650			35.9	%		$	1,018,145			38.3	%		$	1,915,694			33.9	%		$	1,631,583			32.2	%
Cost-plus contracts		1,103,135				38.9	%		$	605,212			22.8	%		$	2,061,490			36.5	%		$	1,184,261			23.3	%
Fixed price contracts		715,414				25.2	%		1,032,991				38.9	%		1,669,274				29.6	%		2,258,080				44.5	%
Total revenues		$	2,839,199			100.0	%		$	2,656,348			100.0	%		$	5,646,458			100.0	%		$	5,073,924			100.0	%

Contract Assets and Liabilities

Contract assets and liabilities consisted of the following (in thousands):

		June 30, 2019				December 31, 2018
Contract assets		$	683,665			$	576,891
Contract liabilities		$	471,214			$	425,961

Cash and Cash Equivalents

Amounts related to cash and cash equivalents held by joint ventures, which are included in Quanta’s total cash and cash equivalents balances, were as follows (in thousands):

		June 30, 2019				December 31, 2018
Cash and cash equivalents held by domestic joint ventures		$	7,927			$	8,544
Cash and cash equivalents held by foreign joint ventures		15				441
Total cash and cash equivalents held by joint ventures		7,942				8,985
Cash and cash equivalents not held by joint ventures		65,414				69,702
Total cash and cash equivalents		$	73,356			$	78,687

Amounts related to Quanta’s cash and cash equivalents based on geographic location of the bank accounts were as follows (in thousands):

		June 30, 2019				December 31, 2018
Cash and cash equivalents held in domestic bank accounts		$	52,432			$	62,495
Cash and cash equivalents held in foreign bank accounts		20,924				16,192
Total cash and cash equivalents		$	73,356			$	78,687

Significant Estimates Used by Management in Determining Fair Values of Intangible Assets

The following table presents the significant estimates used by management in determining the fair values of customer relationships associated with acquisitions in the six months ended June 30, 2019 and year ended December 31, 2018:

		2019		2018
Discount rates		21%		20% to 27%
Customer attrition rates		27%		20% to 33%

X

- References

No definition available.

+ Details

Name:	us-gaap_AccountingPoliciesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of contract balances and changes in contract balances.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=118956577&loc=SL49130551-203045

+ Details

Name:	us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=118956577&loc=SL49130545-203045

+ Details

Name:	us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of cash and cash equivalents.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfCashAndCashEquivalentsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration