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Segment Information (Tables)

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Summarized Financial Information

The following table sets forth segment revenues, segment operating income (loss) and operating margins for the three and nine months ended September 30, 2022 and 2021. Operating margins are calculated by dividing operating income by revenues. The following table shows dollars in thousands:

						Three Months Ended																								Nine Months Ended
						September 30,																								September 30,
						2022												2021												2022												2021
Revenues:
Electric Power Infrastructure Solutions						$	2,282,332					51.2		%				$	1,996,789					59.5		%				$	6,620,459					52.3		%				$	5,488,597					60.6		%
Renewable Energy Infrastructure Solutions						978,779						21.9						331,679						9.9						2,778,647						22.0						1,047,766						11.6
Underground Utility and Infrastructure Solutions						1,198,646						26.9						1,024,810						30.6						3,258,179						25.7						2,520,312						27.8
Consolidated revenues						$	4,459,757					100.0		%				$	3,353,278					100.0		%				$	12,657,285					100.0		%				$	9,056,675					100.0		%
Operating income (loss):
Electric Power Infrastructure Solutions (1)						$	255,457					11.2		%				$	252,415					12.6		%				$	691,026					10.4		%				$	613,121					11.2		%
Renewable Energy Infrastructure Solutions						88,885						9.1		%				35,868						10.8		%				240,514						8.7		%				111,096						10.6		%
Underground Utility and Infrastructure Solutions						101,351						8.5		%				68,167						6.7		%				239,469						7.3		%				100,917						4.0		%
Corporate and Non-Allocated Costs (2)						(158,902)						(3.6)		%				(108,373)						(3.2)		%				(558,346)						(4.4)		%				(301,677)						(3.3)		%
Consolidated operating income						$	286,791					6.4		%				$	248,077					7.4		%				$	612,663					4.8		%				$	523,457					5.8		%

(1)    Operating income for the Electric Power Infrastructure Solutions segment includes equity in earnings of integral unconsolidated affiliates that are operationally integral to the operations of Quanta, which primarily consists of equity in earnings related to Quanta’s equity interest in LUMA Energy, LLC (LUMA).

(2)    Corporate and Non-Allocated Costs for the three months ended September 30, 2022 and 2021 included amortization expense of $67.1 million and $22.8 million and non-cash stock-based compensation of $26.6 million and $21.6 million.

Corporate and Non-Allocated Costs for the nine months ended September 30, 2022 and 2021 included amortization expense of $290.8 million and $65.4 million and non-cash stock-based compensation of $77.7 million and $64.3 million. The following table shows dollars in thousands:

						Three Months Ended												Nine Months Ended
						September 30,												September 30,
						2022						2021						2022						2021
Depreciation:
Electric Power Infrastructure Solutions						$	35,896					$	34,859					$	109,456					$	104,053
Renewable Energy Infrastructure Solutions						11,214						2,338						29,625						6,873
Underground Utility and Infrastructure Solutions						20,311						20,958						61,916						63,183
Corporate and Non-Allocated Costs						6,086						3,461						17,423						12,371
Consolidated depreciation						$	73,507					$	61,616					$	218,420					$	186,480

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Paragraph 22
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

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