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Revenue Recognition and Related Balance Sheet Accounts (Tables) | 3 Months Ended
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Mar. 31, 2024
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 March 31, |  |
|  | 2024 |  | 2023 |  |  |  |
By contract type: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed price contracts |  | $ | 2,672,315 |  |  | 53.1 | % |  | $ | 1,934,888 |  |  | 43.7 | % |  |  |  |  |  |  |  |
Unit-price contracts |  | 1,427,507 |  |  | 28.4 |  |  | 1,497,394 |  |  | 33.8 |  |  |  |  |  |  |  |  |
Cost-plus contracts |  | 931,997 |  |  | 18.5 |  |  | 996,544 |  |  | 22.5 |  |  |  |  |  |  |  |  |
Total revenues |  | $ | 5,031,819 |  |  | 100.0 | % |  | $ | 4,428,826 |  |  | 100.0 | % |  |  |  |  |  |  |  |
|  | Three Months Ended March 31, |  |
|  | 2024 |  | 2023 |  |  |  |
By primary geographic location:
United States |  | $ | 4,569,716 |  |  | 90.8 | % |  | $ | 3,666,365 |  |  | 82.8 | % |  |  |  |  |  |  |  |
Canada |  | 229,427 |  |  | 4.6 |  |  | 542,360 |  |  | 12.2 |  |  |  |  |  |  |  |  |
Australia |  | 146,029 |  |  | 2.9 |  |  | 154,677 |  |  | 3.5 |  |  |  |  |  |  |  |  |
Others |  | 86,647 |  |  | 1.7 |  |  | 65,424 |  |  | 1.5 |  |  |  |  |  |  |  |  |
Total revenues |  | $ | 5,031,819 |  |  | 100.0 | % |  | $ | 4,428,826 |  |  | 100.0 | % |  |  |  |  |  |  |  |
Contract Assets and Liabilities | Contract assets and liabilities consisted of the following (in thousands):
|  | March 31, 2024 |  | December 31, 2023
Contract assets |  | $ | 1,274,686 |  |  | $ | 1,413,057 |
Contract liabilities |  | $ | 1,443,125 |  |  | $ | 1,538,677 |
Composition of the Allowance for Credit Losses | Activity in Quanta’s allowance for credit losses consisted of the following (in thousands):
|  | Three Months Ended |  |
|  | March 31, |  |
|  | 2024 |  | 2023 |  |  |  |
Balance at beginning of period |  | $ | 13,962 |  |  | $ | 15,644 |  |  |  |  |
Increase in provision for credit losses |  | 271 |  |  | 2,358 |  |  |  |  |
Write-offs charged against the allowance net of recoveries of amounts previously written off |  | (278) |  |  | (1,472) |  |  |  |  |
Balance at end of period |  | $ | 13,955 |  |  | $ | 16,530 |  |  |  |  |

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- 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 + Details
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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 + Details
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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 + Details
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