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Segment Information (Tables)

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Summarized Financial Information

The following table sets forth segment revenues and segment operating income (loss) and operating margins for the three and nine months ended September 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 September 30,																								Nine Months Ended September 30,
						2023												2022												2023												2022
Revenues:
Electric Power						$	2,489,547					44.3		%				$	2,282,332					51.2		%				$	7,240,838					48.0		%				$	6,620,459					52.3		%
Renewable Energy						1,746,636						31.1						978,779						21.9						4,144,304						27.4						2,778,647						22.0
Underground and Infrastructure						1,384,639						24.6						1,198,646						26.9						3,713,116						24.6						3,258,179						25.7
Consolidated revenues						$	5,620,822					100.0		%				$	4,459,757					100.0		%				$	15,098,258					100.0		%				$	12,657,285					100.0		%
Operating income (loss):
Electric Power(1)						$	296,176					11.9		%				$	255,457					11.2		%				$	755,342					10.4		%				$	691,026					10.4		%
Renewable Energy						151,389						8.7		%				88,885						9.1		%				297,532						7.2		%				240,514						8.7		%
Underground and Infrastructure						123,764						8.9		%				101,351						8.5		%				292,544						7.9		%				239,469						7.3		%
Corporate and Non-Allocated Costs (2)						(171,000)						(3.0)		%				(158,902)						(3.6)		%				(539,956)						(3.6)		%				(558,346)						(4.4)		%
Consolidated operating income						$	400,329					7.1		%				$	286,791					6.4		%				$	805,462					5.3		%				$	612,663					4.8		%

(1)    Includes equity in earnings of integral unconsolidated affiliates of $11.7 million and $10.6 million for the three months ended September 30, 2023 and 2022 and $30.7 million and $44.4 million for the nine months ended September 30, 2023 and 2022, primarily related to Quanta’s equity interest in LUMA Energy, LLC (LUMA).

(2)    Includes amortization expense of $71.4 million and $67.1 million and non-cash stock-based compensation of $32.5 million and $26.6 million for the three months ended September 30, 2023 and 2022. Includes amortization expense of $213.8 million and $290.8 million and non-cash stock-based compensation of $94.6 million and $77.7 million for the nine months ended September 30, 2023 and 2022.

The following table sets forth depreciation expense by segment for the three and nine months ended September 30, 2023 and 2022. The table shows dollars in thousands:

						Three Months Ended												Nine Months Ended
						September 30,												September 30,
						2023						2022						2023						2022
Depreciation:
Electric Power						$	38,228					$	35,896					$	121,670					$	109,456
Renewable Energy						15,812						11,214						37,351						29,625
Underground and Infrastructure						23,940						20,311						63,575						61,916
Corporate and Non-Allocated Costs						3,508						6,086						17,150						17,423
Consolidated depreciation						$	81,488					$	73,507					$	239,746					$	218,420

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-25

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

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- References

No definition available.

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