XML 82 R23.htm IDEA: XBRL DOCUMENT v3.19.3

Summary of Significant Accounting Policies (Tables)

9 Months Ended

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

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 contingent payment arrangements including the terms that will result in payment and the accounting treatment that will be followed if such contingencies occur, including the potential impact on earnings per share if contingencies are to be settled in common stock of the entity. The description also may include the period over which amounts are expected to be paid, and changes in the amount since the previous reporting period. This also includes contingent options and commitments.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionContingentConsiderationTextBlock
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