XML 46 R31.htm IDEA: XBRL DOCUMENT v3.22.0.1
Revenue Recognition and Related Balance Sheet Accounts (Tables)
 12 Months Ended
Dec. 31, 2021
Revenue from Contract with Customer [Abstract]  
Revenue Disaggregated by Geographic Location and Contract Type
The following tables present Quanta’s revenue disaggregated by geographic location, as determined by the job location, and by contract type (in thousands):
Year Ended December 31,
202120202019
By primary geographic location:
United States$11,068,493 85.3 %$9,618,951 85.8 %$10,190,684 84.0 %
Canada1,557,117 12.0 %1,252,365 11.2 %1,436,720 11.9 %
Australia221,038 1.7 %200,664 1.8 %187,915 1.6 %
Others133,565 1.0 %130,692 1.2 %296,834 2.5 %
Total revenues$12,980,213 100.0 %$11,202,672 100.0 %$12,112,153 100.0 %
Year Ended December 31,
202120202019
By contract type:
Unit-price contracts$5,029,100 38.7 %$4,172,363 37.2 %$4,193,295 34.6 %
Cost-plus contracts3,102,075 23.9 %2,649,770 23.7 %3,304,161 27.3 %
Fixed price contracts4,849,038 37.4 %4,380,539 39.1 %4,614,697 38.1 %
Total revenues$12,980,213 100.0 %$11,202,672 100.0 %$12,112,153 100.0 %
Contract Assets and Liabilities
Contract assets and liabilities consisted of the following (in thousands):
December 31, 2021December 31, 2020December 31, 2019
Contract assets$803,453 $453,832 $601,268 
Contract liabilities$802,872 $528,864 $606,146 
Composition of the Allowance for Credit Losses
Activity in Quanta’s allowance for credit losses consisted of the following (in thousands):     
Year Ended December 31,
202120202019
Balance at beginning of year$16,546 $9,398 $5,839 
Cumulative effect of adoption of new credit loss standard— 5,067 — 
Provision for credit losses34,890 3,656 11,249 
Direct write-offs charged against the allowance(1,687)(1,575)(7,690)
Balance at end of year$49,749 $16,546 $9,398