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Segment Information
 12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Segment Information SEGMENT INFORMATION:
Quanta reports its results under three reportable segments: Electric Power Infrastructure Solutions, Renewable Energy Infrastructure Solutions and Underground Utility and Infrastructure Solutions.
Electric Power Infrastructure Solutions. Quanta’s Electric Power Infrastructure Solutions segment provides comprehensive services for the electric power and communications markets. Services include, but are not limited to, the design, procurement, new construction, upgrade and repair and maintenance services for electric power transmission and distribution infrastructure, both overhead and underground, and substation facilities, along with other engineering and technical services, including services that support the implementation of upgrades by utilities to modernize and harden the electric power grid in order to ensure its safety and enhance reliability and to accommodate increased residential and commercial use of electric vehicles. In addition, this segment provides emergency restoration services, including the repair of infrastructure damaged by fire and inclement weather and the installation of “smart grid” technologies on electric power networks. This segment also provides comprehensive design and construction solutions to wireline and wireless communications companies, cable multi-system operators and other customers within the communications industry, as well as other related services.
Renewable Energy Infrastructure Solutions. Quanta’s Renewable Energy Infrastructure Solutions segment provides comprehensive infrastructure solutions to customers that are involved in the renewable energy industry. Services include, but are not limited to, engineering, procurement, new construction, repowering and repair and maintenance services for renewable generation facilities, such as utility-scale wind, solar and hydropower generation facilities and battery storage facilities, and engineering and construction services for transmission and other electrical infrastructure needed to interconnect and transmit electricity from renewable energy generation and battery storage facilities.
Underground Utility and Infrastructure Solutions. Quanta’s Underground Utility and Infrastructure Solutions segment provides comprehensive infrastructure solutions to customers involved in the transportation, distribution, storage, development and processing of natural gas, oil and other products. Services include, but are not limited to design, engineering, procurement, new construction, upgrade and repair and maintenance services for natural gas systems for gas utility customers; and pipeline protection, integrity testing, rehabilitation and replacement services. Additionally, Quanta serves the midstream and downstream industrial energy markets through catalyst replacement services, high-pressure and critical-path turnaround services, instrumentation and electrical services, piping, fabrication and storage tank services.
Corporate and Non-allocated Costs include corporate facility costs; non-allocated corporate salaries, benefits and incentive compensation; acquisition and integration costs; non-cash stock-based compensation; amortization related to intangible assets; asset impairment related to goodwill and intangible assets; and change in fair value of contingent consideration liabilities.
Quanta’s segment results are derived from the types of services provided across its operating companies in each of its end user markets. Quanta’s entrepreneurial business model allows multiple operating companies to serve the same or similar customers and to provide a range of services across end user markets. Reportable segment information, including revenues and operating income by type of work, is gathered from each operating company. Classification of operating company revenues by type of work for segment reporting purposes can require judgment on the part of management. Quanta’s operating companies may perform joint projects for customers in multiple industries, deliver multiple types of services under a single customer contract or provide service offerings to various industries. For example, Quanta performs joint trenching projects to install distribution lines for electric power and natural gas customers.
In addition, integrated operations and common administrative support for Quanta’s operating companies require that certain allocations be made to determine segment profitability, including allocations of corporate shared and indirect operating costs as well as general and administrative costs.
The following table sets forth segment revenues and segment operating income (loss) for the years ended December 31, 2022, 2021 and 2020. The following table shows dollars in thousands:
 Year Ended December 31,
 202220212020
Revenues:   
Electric Power Infrastructure Solutions$8,940,276 $7,624,240 $6,468,192 
Renewable Energy Infrastructure Solutions3,778,560 1,825,259 1,305,151 
Underground Utility and Infrastructure Solutions4,355,067 3,530,714 3,429,329 
Consolidated revenues$17,073,903 $12,980,213 $11,202,672 
Operating income (loss):
   
Electric Power Infrastructure Solutions (1)(2)
$958,798 $865,409 $648,405 
Renewable Energy Infrastructure Solutions (3)
304,308 181,908 177,920 
Underground Utility and Infrastructure Solutions317,543 150,147 170,074 
Corporate and Non-Allocated Costs (4)
(708,591)(533,943)(385,028)
Consolidated operating income$872,058 $663,521 $611,371 
(1)    Includes $74.0 million of operating losses related to Latin American operations for the year ended December 31, 2020. See Legal Proceedings — Peru Project Dispute in Note 16 for additional information on this matter. As of December 31, 2020, Quanta had substantially completed the exit of its operations in Latin America.
(2)    Includes equity in earnings of integral unconsolidated affiliates of $52.5 million, $44.1 million and $11.3 million for the years ended December 31, 2022, 2021 and 2020, primarily related to Quanta’s equity interest in LUMA.
(3) Additionally, Quanta recorded $11.7 million of asset impairment charges related to a software implementation project at an acquired company, which commenced prior to Quanta’s acquisition and was discontinued in the fourth quarter of 2022. The fair value of this software was zero at December 31, 2022.
(4) Includes amortization expense of $354.0 million, $165.4 million and $76.7 million and non-cash stock-based compensation of $105.6 million, $88.3 million and $91.6 million for the years ended December 31, 2022, 2021 and 2020.
Separate measures of Quanta’s assets and cash flows by reportable segment, including capital expenditures, are not produced or utilized by management to evaluate segment performance. Quanta’s fixed assets, which are primarily held at the operating company level, include operating machinery, equipment and vehicles, office equipment, buildings and leasehold improvements, and are generally used on an interchangeable basis across its reportable segments. As such, for reporting
purposes, total depreciation expense is allocated each quarter among Quanta’s reportable segments based on the ratio of each reportable segment’s revenue contribution to consolidated revenues. The following table shows dollars in thousands:
Year Ended December 31,
202220212020
Depreciation:   
Electric Power Infrastructure Solutions$149,151 $141,093 $112,663 
Renewable Energy Infrastructure Solutions40,535 14,020 9,185 
Underground Utility and Infrastructure Solutions83,117 83,720 85,981 
Corporate and Non-Allocated Costs17,844 16,696 17,427 
Consolidated depreciation$290,647 $255,529 $225,256 
Foreign Operations
During 2022, 2021, and 2020, Quanta derived $2.68 billion, $1.91 billion and $1.58 billion of its revenues from foreign operations. Of Quanta’s foreign revenues, 75%, 81% and 79% were earned in Canada during the years ended December 31, 2022, 2021 and 2020. In addition, Quanta held property and equipment, net of $298.0 million and $338.1 million in foreign countries, primarily Canada, as of December 31, 2022 and 2021.