XML 46 R32.htm IDEA: XBRL DOCUMENT
v3.22.4

Goodwill and Other Intangible Assets (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Summary of Changes in Quanta's 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.
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 |
Estimated Future Aggregate Amortization Expense of Intangible Assets | 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 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
Name: | us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (g) -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1A -URI https://asc.fasb.org/extlink&oid=121556970&loc=SL108378252-109267 Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 2 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267 Reference 11: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 55 -Paragraph 24 -URI https://asc.fasb.org/extlink&oid=122137925&loc=d3e14258-109268 Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 + Details
Name: | us-gaap_ScheduleOfGoodwillTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 + Details
Name: | us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration