Detail of Certain Accounts

3 Months Ended

Mar. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

15. DETAIL OF CERTAIN ACCOUNTS:

Cash and Cash Equivalents

As of March 31, 2024 and December 31, 2023, cash equivalents were $161.1 million and $610.8 million and consisted primarily of money market investments, money market mutual funds and short-term deposits.

Cash and cash equivalents held by joint ventures, which are either consolidated or proportionately consolidated, are available to support joint venture operations, but Quanta cannot utilize those assets to support its other operations. Quanta generally has no right to cash and cash equivalents held by a joint venture other than participating in distributions, to the extent made, and in the event of dissolution. Cash and cash equivalents held by Quanta’s wholly-owned captive insurance company are generally not available for use in support of its other operations. Amounts related to cash and cash equivalents held by consolidated or proportionately consolidated joint ventures and the captive insurance company, which are included in Quanta’s total cash and cash equivalents balances, were as follows (in thousands):


	March 31, 2024		December 31, 2023
Cash and cash equivalents held by domestic joint ventures	$	88,264	$	41,427
Cash and cash equivalents held by foreign joint ventures	10,192		10,968
Total cash and cash equivalents held by joint ventures	98,456		52,395
Cash and cash equivalents held by captive insurance company	18,766		19,088
Cash and cash equivalents not held by joint ventures or captive insurance company	413,834		1,218,765
Total cash and cash equivalents	$	531,056	$	1,290,248

Accounts Payable and Accrued Expenses

Accounts payable and accrued expenses consisted of the following (in thousands):


	March 31, 2024		December 31, 2023
Accounts payable, trade	$	1,848,562	$	2,027,588
Accrued compensation and related expenses	393,990		526,221
Other accrued expenses	514,994		507,433
Accounts payable and accrued expenses	$	2,757,546	$	3,061,242

Other accrued expenses primarily include accrued insurance liabilities, income and franchise taxes payable and deferred revenues.

Property and Equipment

Accumulated depreciation related to property and equipment was $1.85 billion and $1.82 billion as of March 31, 2024 and December 31, 2023. In addition, Quanta held property and equipment, net of $223.2 million and $245.7 million in foreign countries, primarily Canada, as of March 31, 2024 and December 31, 2023.

Other Intangible Assets

Accumulated amortization related to other intangible assets was $1.37 billion and $1.31 billion as of March 31, 2024 and December 31, 2023.