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Pay vs Performance Disclosure - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pay vs Performance Disclosure [Table]      
Pay vs Performance [Table Text Block]
Pay Versus Performance
As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Item 402(v) of Regulation
S-K, Quanta
is providing the following information about the relationship between executive compensation actually paid and the Company’s financial performance.
Required Disclosure of Compensation Actually Paid Versus Performance
The following table discloses compensation actually paid, as calculated under applicable SEC rules, for our Chief Executive Officer (referred to in this discussion as our principal executive officer (“PEO”)) and our
non-PEO
NEOs for the fiscal years ended December 31, 2022, 2021 and 2020. Quanta’s executive compensation programs have a history of aligning pay and performance. This is demonstrated in the Company-selected measure listed below: AIP Adjusted EBITDA, which focuses on cash-based operating performance and, among other things, encourages our NEOs to grow the Company’s business, including through expanding and developing
rela
tionships with existing and potential customers and expanding service offerings in existing and adjacent markets, and to more efficiently utilize resources. AIP Adjusted EBITDA represents the largest component of the Company’s annual incentive plan for each of the years listed below and represents a primary driver of improvement in ROIC, which is the largest component of the Company’s long-term incentive plan for each of the years listed below. For additional detail regarding the overall structure of our annual and long-term incentive plans, see
Compensation Discussion & Analysis – Executive Compensation Decisions for 2022
.
 
Year
  
Summary
Compensation
Table
Total for PEO
($)
    
Compensation
Actually Paid
to PEO
($)
(1) (2)
    
Average
Summary
Compensation
Table Total for
Non-PEO

NEOs
($)
(3)
    
Average
Compensation
Actually Paid
to
Non-PEO

NEOs
($)
(2)
    
Value of Initial Fixed $100
Investment Based On:
    
Net Income
($)
    
AIP Adjusted
EBITDA
($)
(5)
 
  
Total
Shareholder
Return
($)
    
Peer Group
Total
Shareholder
Return
($)
(4)
 
 
2022
     12,038,960        39,769,586        4,356,762        10,990,868        353.32        163.33        511,643,000        1,661,473,000  
2021
     10,967,217        48,236,319        4,353,114        13,991,741        283.50        160.00        491,983,000        1,176,043,000  
2020
     9,802,905        34,539,536        3,524,134        9,724,273        177.74        114.86        451,959,000        1,065,502,000  
 
(1)
Our PEO included in the table above for each of 2022, 2021 and 2020 is Earl C. Austin Jr.
(2)
The table below sets forth adjustments made to our PEO’s and each of our
non-PEO
NEOs’ total compensation reported in the Summary Compensation Table for each of the years ended 2022, 2021 and 2020 to determine compensation actually paid:
 
    
2022
   
2021
   
2020
 
  
PEO
   
Average
Non-PEO

NEOs
   
PEO
   
Average
Non-PEO

NEOs
   
PEO
   
Average
Non-PEO

NEOs
 
Summary Compensation Table Total
     12,038,960       4,356,762       10,967,217       4,353,114       9,802,905       3,524,134  
Deduction for Summary Compensation Table Total for Stock Awards
     (8,441,099     (2,697,365     (7,170,873     (2,294,339     (7,091,608     (2,080,640
Increase based on Value of Current Year Awards Outstanding at Year End
(a)
     17,245,702       5,084,589       13,723,938       4,132,425       13,994,841       3,874,872  
Change in Value for Prior Year Awards Outstanding at Year End
(a)
     5,861,104       1,549,854       22,288,694       5,760,242       9,782,841       2,514,850  
Change in Value for Prior Year Awards that Vested in Year
(a)
     13,063,622       2,696,518       8,420,848       2,037,725       8,037,589       1,885,759  
Increase based on Dividends or Other Earnings Paid prior to Vesting Date
     1,297       510       6,495       2,574       12,968       5,298  
Compensation Actually Paid
     39,769,586       10,990,868       48,236,319       13,991,741       34,539,536       9,724,273  
 
(a)
The fair value of equity award adjustments for each applicable year were calculated in accordance with FASB ASC 718, and the valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant.
(3)
Reflects the average total compensation of our
non-PEO
NEOs, as calculated in the Summary Compensation Table for each of the years shown. Our
non-PEO
NEOs included in the table above are the following individuals: for 2022, Jayshree Desai, Paul Gregory, Redgie Probst and Derrick Jensen; and for 2021 and 2020, Derrick Jensen, Paul Gregory, Redgie Probst and Donald Wayne.
(4)
The Company’s peer group for purposes of Item 201(e)(ii) of Regulation S-K was utilized for purposes of calculating peer group TSR. Such peer group includes: AECOM, Dycom Industries, Inc., EMCOR Group Inc., Fluor Corporation, Jacobs Solutions Inc., KBR, Inc., MasTec, Inc., MYR Group Inc. and Primoris Services Corporation. In accordance with applicable SEC rules, peer group TSR was calculated on a market capitalization weighted basis according to the respective issuers’ stock market capitalization at the beginning of each period for which a return is indicated. TSR for both the Company and the peer group is based on an initial $100 investment, measured on a cumulative basis from the market close on December 31, 2019, through and including the end of the fiscal year for which TSR is being presented in the table, and assumes that all dividends, if any, were reinvested.
 
(5)
AIP Adjusted EBITDA is the financial measure from the tabular list of most important measures shown below, which, in the Company’s assessment, represents for 2022 the most important performance measure used to link compensation actually paid to our PEO and
non-PEO
NEOs to the Company’s performance. Adjusted EBITDA is defined in
Compensation Discussion
& Analysis
– Executive Compensation
Decisions for 2022 – Annual Incentive Plan
and is a
non-GAAP
financial measure. For a reconciliation of AIP Adjusted EBITDA to operating income for the year ended 2022 determined in accordance with GAAP, see Appendix A to this Proxy Statement.
   
Company Selected Measure Name AIP Adjusted EBITDA    
Named Executive Officers, Footnote [Text Block] Our
non-PEO
NEOs included in the table above are the following individuals: for 2022, Jayshree Desai, Paul Gregory, Redgie Probst and Derrick Jensen; and for 2021 and 2020, Derrick Jensen, Paul Gregory, Redgie Probst and Donald Wayne.
   
Peer Group Issuers, Footnote [Text Block] The Company’s peer group for purposes of Item 201(e)(ii) of Regulation S-K was utilized for purposes of calculating peer group TSR. Such peer group includes: AECOM, Dycom Industries, Inc., EMCOR Group Inc., Fluor Corporation, Jacobs Solutions Inc., KBR, Inc., MasTec, Inc., MYR Group Inc. and Primoris Services Corporation. In accordance with applicable SEC rules, peer group TSR was calculated on a market capitalization weighted basis according to the respective issuers’ stock market capitalization at the beginning of each period for which a return is indicated. TSR for both the Company and the peer group is based on an initial $100 investment, measured on a cumulative basis from the market close on December 31, 2019, through and including the end of the fiscal year for which TSR is being presented in the table, and assumes that all dividends, if any, were reinvested    
PEO Total Compensation Amount $ 12,038,960 $ 10,967,217 $ 9,802,905
PEO Actually Paid Compensation Amount $ 39,769,586 48,236,319 34,539,536
Adjustment To PEO Compensation, Footnote [Text Block]
(2)
The table below sets forth adjustments made to our PEO’s and each of our
non-PEO
NEOs’ total compensation reported in the Summary Compensation Table for each of the years ended 2022, 2021 and 2020 to determine compensation actually paid:
 
    
2022
   
2021
   
2020
 
  
PEO
   
Average
Non-PEO

NEOs
   
PEO
   
Average
Non-PEO

NEOs
   
PEO
   
Average
Non-PEO

NEOs
 
Summary Compensation Table Total
     12,038,960       4,356,762       10,967,217       4,353,114       9,802,905       3,524,134  
Deduction for Summary Compensation Table Total for Stock Awards
     (8,441,099     (2,697,365     (7,170,873     (2,294,339     (7,091,608     (2,080,640
Increase based on Value of Current Year Awards Outstanding at Year End
(a)
     17,245,702       5,084,589       13,723,938       4,132,425       13,994,841       3,874,872  
Change in Value for Prior Year Awards Outstanding at Year End
(a)
     5,861,104       1,549,854       22,288,694       5,760,242       9,782,841       2,514,850  
Change in Value for Prior Year Awards that Vested in Year
(a)
     13,063,622       2,696,518       8,420,848       2,037,725       8,037,589       1,885,759  
Increase based on Dividends or Other Earnings Paid prior to Vesting Date
     1,297       510       6,495       2,574       12,968       5,298  
Compensation Actually Paid
     39,769,586       10,990,868       48,236,319       13,991,741       34,539,536       9,724,273  
   
Non-PEO NEO Average Total Compensation Amount $ 4,356,762 4,353,114 3,524,134
Non-PEO NEO Average Compensation Actually Paid Amount $ 10,990,868 13,991,741 9,724,273
Adjustment to Non-PEO NEO Compensation Footnote [Text Block]
(2)
The table below sets forth adjustments made to our PEO’s and each of our
non-PEO
NEOs’ total compensation reported in the Summary Compensation Table for each of the years ended 2022, 2021 and 2020 to determine compensation actually paid:
 
    
2022
   
2021
   
2020
 
  
PEO
   
Average
Non-PEO

NEOs
   
PEO
   
Average
Non-PEO

NEOs
   
PEO
   
Average
Non-PEO

NEOs
 
Summary Compensation Table Total
     12,038,960       4,356,762       10,967,217       4,353,114       9,802,905       3,524,134  
Deduction for Summary Compensation Table Total for Stock Awards
     (8,441,099     (2,697,365     (7,170,873     (2,294,339     (7,091,608     (2,080,640
Increase based on Value of Current Year Awards Outstanding at Year End
(a)
     17,245,702       5,084,589       13,723,938       4,132,425       13,994,841       3,874,872  
Change in Value for Prior Year Awards Outstanding at Year End
(a)
     5,861,104       1,549,854       22,288,694       5,760,242       9,782,841       2,514,850  
Change in Value for Prior Year Awards that Vested in Year
(a)
     13,063,622       2,696,518       8,420,848       2,037,725       8,037,589       1,885,759  
Increase based on Dividends or Other Earnings Paid prior to Vesting Date
     1,297       510       6,495       2,574       12,968       5,298  
Compensation Actually Paid
     39,769,586       10,990,868       48,236,319       13,991,741       34,539,536       9,724,273  
   
Compensation Actually Paid vs. Total Shareholder Return [Text Block]
Compensation Actually Paid versus Company TSR and Peer Group TSR
 
LOGO
   
Compensation Actually Paid vs. Net Income [Text Block]
Compensation Actually Paid versus Net Income
 
LOGO
   
Compensation Actually Paid vs. Company Selected Measure [Text Block]
Compensation Actually Paid versus AIP Adjusted EBITDA
 
LOGO
   
Total Shareholder Return Vs Peer Group [Text Block]
Compensation Actually Paid versus Company TSR and Peer Group TSR
 
LOGO
   
Tabular List [Table Text Block]
Required Tabular List of Most Important Measures Linking Compensation Actually Paid During 2022 to Company Performance
As required by SEC rules, we disclose below the most important measures used by the Company to link compensation actually paid to our NEOs for 2022 to Company performance. For further information regarding these performance metrics and their function in our executive compensation program, please see
Compensation Discussion
 & Analysis – Executive Compensation Decisions for 2022
.
 
2022 Most Important Measures
AIP Adjusted EBITDA
   ROIC
AIP Adjusted EBITDA Margin
   Relative TSR
Safety Performance
   
Total Shareholder Return Amount $ 353.32 283.5 177.74
Peer Group Total Shareholder Return Amount 163.33 160 114.86
Net Income (Loss) $ 511,643,000 $ 491,983,000 $ 451,959,000
Company Selected Measure Amount 1,661,473,000 1,176,043,000 1,065,502,000
PEO Name Earl C. Austin Jr.    
Measure [Axis]: 1      
Pay vs Performance Disclosure [Table]      
Measure Name AIP Adjusted EBITDA    
Non-GAAP Measure Description [Text Block] AIP Adjusted EBITDA is the financial measure from the tabular list of most important measures shown below, which, in the Company’s assessment, represents for 2022 the most important performance measure used to link compensation actually paid to our PEO and
non-PEO
NEOs to the Company’s performance. Adjusted EBITDA is defined in
Compensation Discussion
& Analysis
– Executive Compensation
Decisions for 2022 – Annual Incentive Plan
and is a
non-GAAP
financial measure. For a reconciliation of AIP Adjusted EBITDA to operating income for the year ended 2022 determined in accordance with GAAP, see Appendix A to this Proxy Statement.
   
Measure [Axis]: 2      
Pay vs Performance Disclosure [Table]      
Measure Name ROIC    
Measure [Axis]: 3      
Pay vs Performance Disclosure [Table]      
Measure Name AIP Adjusted EBITDA Margin    
Measure [Axis]: 4      
Pay vs Performance Disclosure [Table]      
Measure Name Relative TSR    
Measure [Axis]: 5      
Pay vs Performance Disclosure [Table]      
Measure Name Safety Performance    
PEO [Member] | Deduction for Summary Compensation Table Total for Stock Awards      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount $ (8,441,099) $ (7,170,873) $ (7,091,608)
PEO [Member] | Increase based on Value of Current Year Awards Outstanding at Year End      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 17,245,702 13,723,938 13,994,841
PEO [Member] | Change in Value for Prior Year Awards Outstanding at Year End      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 5,861,104 22,288,694 9,782,841
PEO [Member] | Change in Value for Prior Year Awards that Vested in Year      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 13,063,622 8,420,848 8,037,589
PEO [Member] | Increase based on Dividends or Other Earnings Paid prior to Vesting Date      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 1,297 6,495 12,968
Non-PEO NEO [Member] | Deduction for Summary Compensation Table Total for Stock Awards      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount (2,697,365) (2,294,339) (2,080,640)
Non-PEO NEO [Member] | Increase based on Value of Current Year Awards Outstanding at Year End      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 5,084,589 4,132,425 3,874,872
Non-PEO NEO [Member] | Change in Value for Prior Year Awards Outstanding at Year End      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 1,549,854 5,760,242 2,514,850
Non-PEO NEO [Member] | Change in Value for Prior Year Awards that Vested in Year      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount 2,696,518 2,037,725 1,885,759
Non-PEO NEO [Member] | Increase based on Dividends or Other Earnings Paid prior to Vesting Date      
Pay vs Performance Disclosure [Table]      
Adjustment to Compensation Amount $ 510 $ 2,574 $ 5,298