Detail of Certain Accounts

3 Months Ended

Mar. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

15. DETAIL OF CERTAIN ACCOUNTS:

Cash and Cash Equivalents

As of March 31, 2023 and December 31, 2022, cash equivalents were $49.6 million and $260.1 million and consisted primarily of money market investments and money market mutual funds. Quanta’s cash equivalents are categorized as Level 1 assets, as all values are based on unadjusted quoted prices for identical assets in an active market. Cash and cash equivalents in foreign bank accounts are primarily held in Canada and Australia.

Cash and cash equivalents held by joint ventures, which are either consolidated or proportionately consolidated, are available to support joint venture operations, but Quanta cannot utilize those assets to support its other operations. Quanta generally has no right to cash and cash equivalents held by a joint venture other than participating in distributions, to the extent made, and in the event of dissolution. Cash and cash equivalents held by Quanta’s wholly-owned captive insurance company are generally not available for use in support of its other operations. Amounts related to cash and cash equivalents held by consolidated or proportionately consolidated joint ventures and the captive insurance company, which are included in Quanta’s total cash and cash equivalents balances, were as follows (in thousands):


	March 31, 2023		December 31, 2022
Cash and cash equivalents held by domestic joint ventures	$	17,703	$	14,291
Cash and cash equivalents held by foreign joint ventures	10,010		6,277
Total cash and cash equivalents held by joint ventures	27,713		20,568
Cash and cash equivalents held by captive insurance company	34,285		35,085
Cash and cash equivalents not held by joint ventures or captive insurance company	155,117		372,852
Total cash and cash equivalents	$	217,115	$	428,505

Accounts Payable and Accrued Expenses

Accounts payable and accrued expenses consisted of the following (in thousands):


	March 31, 2023		December 31, 2022
Accounts payable, trade	$	1,359,912	$	1,302,086
Accrued compensation and related expenses	382,891		469,048
Other accrued expenses	425,371		381,995
Accounts payable and accrued expenses	$	2,168,174	$	2,153,129

Other accrued expenses primarily include accrued insurance liabilities, income and franchise taxes payable and deferred revenues.

Property and Equipment

Accumulated depreciation related to property and equipment was $1.70 billion and $1.65 billion as of March 31, 2023 and December 31, 2022.

Other Intangible Assets

Accumulated amortization related to other intangible assets was $1.10 billion and $1.02 billion as of March 31, 2023 and December 31, 2022.