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Segment Information (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Summarized Financial Information

The following table shows dollars in thousands:

						Year Ended December 31,
						2023												2022												2021
Revenues:
Electric Power						$	9,696,897					46.5		%				$	8,940,276					52.4		%				$	7,624,240					58.7		%
Renewable Energy						6,170,301						29.5		%				3,778,560						22.1		%				1,825,259						14.1		%
Underground and Infrastructure						5,015,008						24.0		%				4,355,067						25.5		%				3,530,714						27.2		%
Consolidated revenues						$	20,882,206					100.0		%				$	17,073,903					100.0		%				$	12,980,213					100.0		%
Operating income (loss):
Electric Power (1)						$	1,013,350					10.5		%				$	958,798					10.7		%				$	865,409					11.4		%
Renewable Energy (2)						477,208						7.7		%				304,308						8.1		%				181,908						10.0		%
Underground and Infrastructure						377,977						7.5		%				317,543						7.3		%				150,147						4.3		%
Corporate and Non-Allocated Costs (3)						(740,559)						(3.5)		%				(708,591)						(4.2)		%				(533,943)						(4.1)		%
Consolidated operating income						$	1,127,976					5.4		%				$	872,058					5.1		%				$	663,521					5.1		%

(1)    Includes equity in earnings of integral unconsolidated affiliates of $41.6 million, $52.5 million and $44.1 million for the years ended December 31, 2023, 2022 and 2021, primarily related to Quanta’s equity interest in LUMA Energy, LLC (LUMA).

(2)     Quanta recorded $11.7 million of asset impairment charges related to a software implementation project at an acquired company, which commenced prior to Quanta’s acquisition and was discontinued in the fourth quarter of 2022. The fair value of this software was zero at December 31, 2022.

(3)    Includes amortization expense of $289.0 million, $354.0 million and $165.4 million and non-cash stock-based compensation of $126.8 million, $105.6 million and $88.3 million for the years ended December 31, 2023, 2022 and 2021.

The following table sets forth depreciation expense by segment for the years ended December 31, 2023, 2022, and 2021. The table shows dollars in thousands:

						Year Ended December 31,
						2023						2022						2021
Depreciation:
Electric Power						$	168,486					$	149,151					$	141,093
Renewable Energy						54,369						40,535						14,020
Underground and Infrastructure						77,524						83,117						83,720
Corporate and Non-Allocated Costs						24,407						17,844						16,696
Consolidated depreciation						$	324,786					$	290,647					$	255,529

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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

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-Name Accounting Standards Codification
-Topic 350
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-25

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-Name Accounting Standards Codification
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