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Revenue Recognition and Related Balance Sheet Accounts (Tables)

9 Months Ended

Sep. 30, 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 September 30,																								Nine Months Ended September 30,
						2023												2022												2023												2022
By contract type:
Fixed price contracts						$	2,718,921					48.4		%				$	1,875,855					42.1		%				6,950,697						46.0		%				$	5,370,646					42.4		%
Unit-price contracts						1,803,764						32.1						1,597,640						35.8						4,998,787						33.1						$	4,407,147					34.8
Cost-plus contracts						1,098,137						19.5						986,262						22.1						3,148,774						20.9						2,879,492						22.8
Total revenues						$	5,620,822					100.0		%				$	4,459,757					100.0		%				$	15,098,258					100.0		%				$	12,657,285					100.0		%

						Three Months Ended September 30,																								Nine Months Ended September 30,
						2023												2022												2023												2022
By primary geographic location:
United States						$	4,816,825					85.8		%				$	3,760,019					84.3		%				$	12,766,092					84.6		%				$	10,751,325					84.9		%
Canada						574,536						10.2						512,803						11.5						1,640,154						10.9						1,503,174						11.9
Australia						148,499						2.6						130,851						2.9						459,901						3.0						275,421						2.2
Others						80,962						1.4						56,084						1.3						232,111						1.5						127,365						1.0
Total revenues						$	5,620,822					100.0		%				$	4,459,757					100.0		%				$	15,098,258					100.0		%				$	12,657,285					100.0		%

Contract Assets and Liabilities

Contract assets and liabilities consisted of the following (in thousands):

						September 30, 2023						December 31, 2022
Contract assets						$	1,584,623					$	1,080,206
Contract liabilities						$	1,100,928					$	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												Nine Months Ended
						September 30,												September 30,
						2023						2022						2023						2022
Balance at beginning of period						$	13,908					$	49,707					$	15,644					$	49,749
Increase in provision for credit losses						181						2,343						5,428						2,048
Write-offs charged against the allowance net of recoveries of amounts previously written off						(146)						(33,030)						(7,129)						(32,777)
Balance at end of period						$	13,943					$	19,020					$	13,943					$	19,020

X

- Definition

Tabular disclosure of allowance for credit loss on accounts receivable.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479319/326-20-50-13

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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
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

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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
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

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