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v3.23.1

Revenue Recognition and Related Balance Sheet Accounts (Tables) | 3 Months Ended
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Mar. 31, 2023
Revenue from Contract with Customer [Abstract] |
Revenue Disaggregated by Geographic Location and Contract Type | The following tables present Quanta’s revenue disaggregated by contract type and by geographic location, as determined by the job location (in thousands):
|  | Three Months Ended March 31, |  |
|  | 2023 |  | 2022 |  |  |  |
By contract type: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed price contracts |  | $ | 1,934,888 |  |  | 43.7 | % |  | $ | 1,689,635 |  |  | 42.6 | % |  |  |  |  |  |  |  |
Unit-price contracts |  | 1,497,394 |  |  | 33.8 |  |  | 1,357,602 |  |  | 34.2 |  |  |  |  |  |  |  |  |
Cost-plus contracts |  | 996,544 |  |  | 22.5 |  |  | 918,288 |  |  | 23.2 |  |  |  |  |  |  |  |  |
Total revenues |  | $ | 4,428,826 |  |  | 100.0 | % |  | $ | 3,965,525 |  |  | 100.0 | % |  |  |  |  |  |  |  |
|  | Three Months Ended March 31, |  |
|  | 2023 |  | 2022 |  |  |  |
By primary geographic location:
United States |  | $ | 3,666,365 |  |  | 82.8 | % |  | $ | 3,323,969 |  |  | 83.8 | % |  |  |  |  |  |  |  |
Canada |  | 542,360 |  |  | 12.2 |  |  | 550,905 |  |  | 13.9 |  |  |  |  |  |  |  |  |
Australia |  | 154,677 |  |  | 3.5 |  |  | 55,201 |  |  | 1.4 |  |  |  |  |  |  |  |  |
Others |  | 65,424 |  |  | 1.5 |  |  | 35,450 |  |  | 0.9 |  |  |  |  |  |  |  |  |
Total revenues |  | $ | 4,428,826 |  |  | 100.0 | % |  | $ | 3,965,525 |  |  | 100.0 | % |  |  |  |  |  |  |  |
Contract Assets and Liabilities | Contract assets and liabilities consisted of the following (in thousands):
|  | March 31, 2023 |  | December 31, 2022
Contract assets |  | $ | 1,287,454 |  |  | $ | 1,080,206 |
Contract liabilities |  | $ | 1,143,041 |  |  | $ | 1,141,518 |
Composition of the Allowance for Credit Losses | Activity in Quanta’s allowance for credit losses consisted of the following (in thousands):
|  | Three Months Ended |  |
|  | March 31, |  |
|  | 2023 |  | 2022 |  |  |  |
Balance at beginning of period |  | $ | 15,644 |  |  | $ | 49,749 |  |  |  |  |
Increase in provision for credit losses |  | 2,358 |  |  | 133 |  |  |  |  |
Write-offs charged against the allowance net of recoveries of amounts previously written off |  | (1,472) |  |  | 34 |  |  |  |  |
Balance at end of period |  | $ | 16,530 |  |  | $ | 49,916 |  |  |  |  |

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- Definition Tabular disclosure of allowance for credit loss on accounts receivable. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -URI https://asc.fasb.org/extlink&oid=124255953&loc=SL82919249-210447 + Details
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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045 + Details
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- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 5 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045 + Details
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