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Segment Information
 6 Months Ended
Jun. 30, 2023
Segment Reporting [Abstract]  
Segment Information
4. SEGMENT INFORMATION:
Quanta reports its results under three reportable segments described below:
•Electric Power Infrastructure Solutions (Electric Power). Quanta’s Electric Power segment provides comprehensive services for the electric power and communications markets.
•Renewable Energy Infrastructure Solutions (Renewable Energy). Quanta’s Renewable Energy segment provides comprehensive infrastructure solutions to customers that are involved in the renewable energy industry.
•Underground Utility and Infrastructure Solutions (Underground and Infrastructure). Quanta’s Underground and Infrastructure segment provides comprehensive infrastructure solutions to customers involved in the transportation, distribution, storage, development and processing of natural gas, oil and other products.
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.
The following table sets forth segment revenues and segment operating income (loss) and operating margins for the three and six months ended June 30, 2023 and 2022. Operating margin is calculated by dividing operating income (loss) by revenues. The following table shows dollars in thousands:
Three Months Ended June 30,Six Months Ended June 30,
 2023202220232022
Revenues:  
Electric Power Infrastructure Solutions$2,415,254 47.9 %$2,199,430 52.0 %$4,751,291 50.1 %$4,338,127 52.9 %
Renewable Energy Infrastructure Solutions1,389,368 27.5 924,236 21.8 2,397,668 25.3 1,799,868 22.0 
Underground Utility and Infrastructure Solutions
1,243,988 24.6 1,108,337 26.2 2,328,477 24.6 2,059,533 25.1 
Consolidated revenues$5,048,610 100.0 %$4,232,003 100.0 %$9,477,436 100.0 %$8,197,528 100.0 %
Operating income (loss):
  
Electric Power Infrastructure Solutions (1)
$244,017 10.1 %$232,150 10.6 %$459,166 9.7 %$435,569 10.0 %
Renewable Energy Infrastructure Solutions110,487 8.0 %81,687 8.8 %146,143 6.1 %151,629 8.4 %
Underground Utility and Infrastructure Solutions
107,207 8.6 %89,943 8.1 %168,780 7.2 %138,118 6.7 %
Corporate and Non-Allocated Costs (2)
(182,438)(3.6)%(195,424)(4.6)%(368,956)(3.9)%(399,444)(4.9)%
Consolidated operating income$279,273 5.5 %$208,356 4.9 %$405,133 4.3 %$325,872 4.0 %
(1)    Includes equity in earnings of integral unconsolidated affiliates of $9.4 million and $18.6 million for the three months ended June 30, 2023 and 2022 and $19.0 million and $33.7 million for the six months ended June 30, 2023 and 2022, primarily related to Quanta’s equity interest in LUMA Energy, LLC (LUMA).
(2)    Includes amortization expense of $70.0 million and $107.9 million and non-cash stock-based compensation of $34.6 million and $28.1 million for the three months ended June 30, 2023 and 2022. Includes amortization expense of $142.4 million and $223.7 million and non-cash stock-based compensation of $62.1 million and $51.1 million for the six months ended June 30, 2023 and 2022.
Depreciation Expense Allocation
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 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:
Three Months EndedSix Months Ended
June 30,June 30,
2023202220232022
Depreciation:
Electric Power Infrastructure Solutions$41,357 $36,781 $83,442 $73,560 
Renewable Energy Infrastructure Solutions10,681 10,178 21,539 18,411 
Underground Utility and Infrastructure Solutions
19,135 20,667 39,635 41,605 
Corporate and Non-Allocated Costs8,703 6,333 13,642 11,337 
Consolidated depreciation$79,876 $73,959 $158,258 $144,913