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Acquisitions (Tables)

12 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

Aggregate Consideration Paid or Payable and Allocation of Net Assets


						2020						2019
Consideration:
Cash paid or payable						$	351,671					$	395,258
Value of Quanta common stock issued						57,119						1,791
Contingent consideration						2,250						—
Fair value of total consideration transferred or estimated to be transferred						$	411,040					$	397,049

Accounts receivable						$	74,848					$	112,142
Contract assets						8,919						11,869
Other current assets						51,836						14,290
Property and equipment						133,065						60,133
Other assets						14						149
Identifiable intangible assets						96,826						192,786
Contract liabilities						(10,324)						(11,856)
Other current liabilities						(27,156)						(73,698)
Deferred tax liabilities, net						(3,185)						(12,414)
Other long-term liabilities						—						(5,345)

Total identifiable net assets						324,843						288,056
Goodwill						86,197						112,132
Fair value of net assets acquired						411,040						400,188
Bargain purchase gain						—						(3,139)
Fair value of total consideration transferred or estimated to be transferred						$	411,040					$	397,049

Estimated Fair Values of Identifiable Intangible Assets and Related Weighted Average Amortization

The following table summarizes the estimated fair values of identifiable intangible assets for the acquisitions completed in 2020 as of the acquisition dates and the related weighted average amortization periods by type (in thousands, except for weighted average amortization periods, which are in years).


						Estimated						Weighted Average
						Fair Value						Amortization Period in Years
Customer relationships						$	81,154					6.1
Backlog						4,022						1.4
Trade names						7,654						14.4
Non-compete agreements						3,996						5.0
Total intangible assets subject to amortization						$	96,826					6.5

Unaudited Supplemental Pro Forma Results of Operations


						Year Ended December 31,
						2020						2019						2018
Revenues						$	11,400,807					$	12,844,508					$	11,894,866
Gross profit						$	1,708,844					$	1,761,317					$	1,635,777
Selling, general and administrative expenses						$	(998,283)					$	(1,027,254)					$	(913,392)
Amortization of intangible assets						$	(86,721)					$	(95,185)					$	(79,454)
Net income						$	459,890					$	434,593					$	332,973
Net income attributable to common stock						$	453,527					$	429,822					$	330,312

Earnings per share:
Basic						$	3.19					$	2.92					$	2.16
Diluted						$	3.11					$	2.89					$	2.14