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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 SegmentUnderground 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 adjustments1,226 — (3,030)(1,804)
Reorganization of reporting units (1)
(161,912)161,912 — — 
Balance at December 31, 2021:
Goodwill1,387,4181,461,192 777,1363,625,746
Accumulated impairment— — (96,860)(96,860)
1,387,4181,461,192680,2763,528,886
Goodwill related to the acquisition completed in 202212,225 — 12,225 
Purchase price allocation adjustments962 64,874 580 66,416 
Foreign currency translation adjustments(4,464)(7,917)(8,401)(20,782)
Balance at December 31, 2022:
Goodwill1,396,141 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, 2022As of December 31, 2021
Remaining Weighted Average Amortization Period in YearsIntangible
Assets
Accumulated
Amortization
Intangible
Assets, Net
Intangible
Assets
Accumulated
Amortization
Intangible
Assets, Net
Customer relationships5.5$1,741,679 $(600,841)$1,140,838 $1,738,813 $(379,417)$1,359,396 
Backlog0.1282,483 (282,397)86 286,120 (192,140)93,980 
Trade names13.5355,855 (63,190)292,665 357,103 (41,642)315,461 
Non-compete agreements3.152,356 (44,570)7,786 54,022 (41,409)12,613 
Patented rights, developed technology, process certifications and other2.132,969 (26,281)6,688 31,520 (23,458)8,062 
Curriculum5.613,488 (5,920)7,568 13,100 (4,432)8,668 
Total intangible assets subject to amortization7.02,478,830 (1,023,199)1,455,631 2,480,678 (682,498)1,798,180 
Engineering license3,000 — 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 
2024239,640 
2025224,901 
2026218,568 
2027202,587 
Thereafter317,619 
Total$1,455,631