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Summary of Significant Accounting Policies (Tables) | 9 Months Ended
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Sep. 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 nine months ended September 30, 2019 and 2018 (in thousands):
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2019 |  | 2018 |  | 2019 |  | 2018
By primary geographic location: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 2,872,923 |  |  | 85.7 | % |  | $ | 2,317,643 |  |  | 77.7 | % |  | $ | 7,635,462 |  |  | 84.9 | % |  | $ | 6,223,507 |  |  | 77.2 | %
Canada |  | 342,016 |  |  | 10.2 | % |  | 522,618 |  |  | 17.5 | % |  | 1,029,667 |  |  | 11.4 | % |  | 1,376,149 |  |  | 17.1 | %
Australia |  | 56,323 |  |  | 1.7 | % |  | 75,055 |  |  | 2.5 | % |  | 134,533 |  |  | 1.5 | % |  | 308,392 |  |  | 3.8 | %
Latin America and Other |  | 81,633 |  |  | 2.4 | % |  | 69,965 |  |  | 2.3 | % |  | 199,691 |  |  | 2.2 | % |  | 151,157 |  |  | 1.9 | %
Total revenues |  | $ | 3,352,895 |  |  | 100.0 | % |  | $ | 2,985,281 |  |  | 100.0 | % |  | $ | 8,999,353 |  |  | 100.0 | % |  | $ | 8,059,205 |  |  | 100.0 | %
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2019 |  | 2018 |  | 2019 |  | 2018
By contract type: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unit-price contracts |  | $ | 1,241,851 |  |  | 37.1 | % |  | $ | 1,082,858 |  |  | 36.3 | % |  | $ | 3,157,545 |  |  | 35.1 | % |  | $ | 2,714,441 |  |  | 33.7 | %
Cost-plus contracts |  | 872,735 |  |  | 26.0 | % |  | $ | 662,757 |  |  | 22.2 | % |  | $ | 2,934,225 |  |  | 32.6 | % |  | $ | 1,847,018 |  |  | 22.9 | %
Fixed price contracts |  | 1,238,309 |  |  | 36.9 | % |  | 1,239,666 |  |  | 41.5 | % |  | 2,907,583 |  |  | 32.3 | % |  | 3,497,746 |  |  | 43.4 | %
Total revenues |  | $ | 3,352,895 |  |  | 100.0 | % |  | $ | 2,985,281 |  |  | 100.0 | % |  | $ | 8,999,353 |  |  | 100.0 | % |  | $ | 8,059,205 |  |  | 100.0 | %
Contract Assets and Liabilities | Contract assets and liabilities consisted of the following (in thousands):
|  | September 30, 2019 |  | December 31, 2018
Contract assets |  | $ | 652,915 |  |  | $ | 576,891 |
Contract liabilities |  | $ | 540,187 |  |  | $ | 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):
|  | September 30, 2019 |  | December 31, 2018
Cash and cash equivalents held by domestic joint ventures |  | $ | 7,855 |  |  | $ | 8,544 |
Cash and cash equivalents held by foreign joint ventures |  | 142 |  |  | 441 |
Total cash and cash equivalents held by joint ventures |  | 7,997 |  |  | 8,985 |
Cash and cash equivalents not held by joint ventures |  | 72,047 |  |  | 69,702 |
Total cash and cash equivalents |  | $ | 80,044 |  |  | $ | 78,687 |
Amounts related to Quanta’s cash and cash equivalents based on geographic location of the bank accounts were as follows (in thousands):
|  | September 30, 2019 |  | December 31, 2018
Cash and cash equivalents held in domestic bank accounts |  | $ | 55,581 |  |  | $ | 62,495 |
Cash and cash equivalents held in foreign bank accounts |  | 24,463 |  |  | 16,192 |
Total cash and cash equivalents |  | $ | 80,044 |  |  | $ | 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 nine months ended September 30, 2019 and year ended December 31, 2018:
|  | 2019 |  | 2018
Discount rates |  | 19% to 24% |  | 20% to 27%
Customer attrition rates |  | 5% to 37% |  | 20% to 33%
Aggregate Fair Values of Outstanding and Unearned Contingent Consideration Liabilities | Aggregate fair values of these outstanding and unearned contingent consideration liabilities and their classification in the accompanying condensed consolidated balance sheets were as follows (in thousands):
|  | September 30, 2019 |  | December 31, 2018
Accounts payable and accrued expenses |  | $ | 70,982 |  |  | $ | — |
Insurance and other non-current liabilities |  | 8,438 |  |  | 70,756 |
Total contingent consideration liabilities |  | $ | 79,420 |  |  | $ | 70,756 |

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