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Goodwill and Other Intangible Assets | 12 Months Ended
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Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | GOODWILL AND OTHER INTANGIBLE ASSETS: Goodwill The changes in the carrying amount of goodwill of each of Quanta’s reportable segments were as follows (in thousands):
|  | Electric Power Infrastructure Solutions Segment |  | Renewable Energy Infrastructure Solutions Segment |  | Underground Utility and Infrastructure Solutions Segment |  | Total
Balance at December 31, 2020: |  |  |  |  |  |  |  |
Goodwill |  | $ | 1,449,774 |  |  | $ | — |  |  | $ | 768,868 |  |  | $ | 2,218,642 |
Accumulated impairment |  | — |  |  | — |  |  | (97,628) |  |  | (97,628) |
|  | 1,449,774 |  |  | — |  |  | 671,240 |  |  | 2,121,014 |
Goodwill related to acquisitions completed in 2021(1) |  | 100,121 |  |  | 1,299,280 |  |  | 12,066 |  |  | 1,411,467 |
Purchase price allocation adjustments |  | (1,791) |  |  | — |  |  | — |  |  | (1,791) |
Foreign currency translation adjustments |  | 1,226 |  |  | — |  |  | (3,030) |  |  | (1,804) |
Reorganization of reporting units (1) |  | (161,912) |  |  | 161,912 |  |  | — |  |  | — |
Balance at December 31, 2021: |  |  |  |  |  |  |  |
Goodwill |  | 1,387,418 |  | 1,461,192 |  |  | 777,136 |  | 3,625,746
Accumulated impairment |  | — |  |  | — |  |  | (96,860) |  |  | (96,860) |
|  | 1,387,418 |  | 1,461,192 |  | 680,276 |  | 3,528,886
Goodwill related to the acquisition completed in 2022 |  | 12,225 |  |  | — |  |  |  |  | 12,225 |
Purchase price allocation adjustments |  | 962 |  |  | 64,874 |  |  | 580 |  |  | 66,416 |
Foreign currency translation adjustments |  | (4,464) |  |  | (7,917) |  |  | (8,401) |  |  | (20,782) |
Balance at December 31, 2022: |  |  |  |  |  |  |  |
Goodwill |  | 1,396,141 |  |  | 1,518,149 |  |  | 768,516 |  |  | 3,682,806 |
Accumulated impairment |  | — |  |  | — |  |  | (96,061) |  |  | (96,061) |
|  | $ | 1,396,141 |  |  | $ | 1,518,149 |  |  | $ | 672,455 |  |  | $ | 3,586,745 |
(1) The Renewable Energy Infrastructure Solutions segment was added due to the acquisition of Blattner in the fourth quarter of 2021. In conjunction with this change, Quanta reorganized its reporting units. In connection with the 2022 annual goodwill assessment, management performed a qualitative impairment assessment of Quanta’s reporting units, which indicated that the fair value of its reporting units was greater than their carrying value including goodwill. Accordingly, a quantitative goodwill impairment test was not required, and no goodwill impairment was recognized in 2022. In connection with the 2021 annual goodwill assessment, management performed qualitative and quantitative impairment assessments of its reporting units, which indicated the fair value of its reporting units was greater than their carrying value including goodwill, and no goodwill impairment was recognized. Other Intangible Assets Quanta’s identifiable intangible assets and the remaining weighted average amortization periods related to its intangible assets subject to amortization were as follows (in thousands except for weighted average amortization periods, which are in years):
|  | As of December 31, 2022 |  | As of December 31, 2021
|  | Remaining Weighted Average Amortization Period in Years |  | Intangible Assets |  | Accumulated Amortization |  | Intangible Assets, Net |  | Intangible Assets |  | Accumulated Amortization |  | Intangible Assets, Net
Customer relationships |  | 5.5 |  | $ | 1,741,679 |  |  | $ | (600,841) |  |  | $ | 1,140,838 |  |  | $ | 1,738,813 |  |  | $ | (379,417) |  |  | $ | 1,359,396 |
Backlog |  | 0.1 |  | 282,483 |  |  | (282,397) |  |  | 86 |  |  | 286,120 |  |  | (192,140) |  |  | 93,980 |
Trade names |  | 13.5 |  | 355,855 |  |  | (63,190) |  |  | 292,665 |  |  | 357,103 |  |  | (41,642) |  |  | 315,461 |
Non-compete agreements |  | 3.1 |  | 52,356 |  |  | (44,570) |  |  | 7,786 |  |  | 54,022 |  |  | (41,409) |  |  | 12,613 |
Patented rights, developed technology, process certifications and other |  | 2.1 |  | 32,969 |  |  | (26,281) |  |  | 6,688 |  |  | 31,520 |  |  | (23,458) |  |  | 8,062 |
Curriculum |  | 5.6 |  | 13,488 |  |  | (5,920) |  |  | 7,568 |  |  | 13,100 |  |  | (4,432) |  |  | 8,668 |
Total intangible assets subject to amortization |  | 7.0 |  | 2,478,830 |  |  | (1,023,199) |  |  | 1,455,631 |  |  | 2,480,678 |  |  | (682,498) |  |  | 1,798,180 |
Engineering license |  |  |  | 3,000 |  |  | — |  |  | 3,000 |  |  | 3,000 |  |  | — |  |  | 3,000 |
Total intangible assets |  |  |  | $ | 2,481,830 |  |  | $ | (1,023,199) |  |  | $ | 1,458,631 |  |  | $ | 2,483,678 |  |  | $ | (682,498) |  |  | $ | 1,801,180 |
Amortization expense for intangible assets was $354.0 million, $165.4 million and $76.7 million for the years ended December 31, 2022, 2021 and 2020. The estimated future aggregate amortization expense of intangible assets subject to amortization as of December 31, 2022 is set forth below (in thousands):
Year Ending December 31: |  |
2023 |  | $ | 252,316 |
2024 |  | 239,640 |
2025 |  | 224,901 |
2026 |  | 218,568 |
2027 |  | 202,587 |
Thereafter |  | 317,619 |
Total |  | $ | 1,455,631 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI https://asc.fasb.org/topic&trid=2144416 + Details
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