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Segment Information (Tables)

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Summarized Financial Information

The following table sets forth segment revenues and segment operating income (loss) for the three months ended March 31, 2024 and 2023. Operating margin is calculated by dividing operating income (loss) by revenues. The following table

shows dollars in thousands:

						Three Months Ended March 31,
						2024												2023
Revenues:
Electric Power						$	2,326,960					46.2		%				$	2,336,037					52.7		%
Renewable Energy						1,584,164						31.5						1,008,300						22.8
Underground and Infrastructure						1,120,695						22.3						1,084,489						24.5
Consolidated revenues						$	5,031,819					100.0		%				$	4,428,826					100.0		%
Operating income (loss):
Electric Power (1)						$	228,025					9.8		%				$	215,149					9.2		%
Renewable Energy						74,846						4.7		%				35,656						3.5		%
Underground and Infrastructure						46,888						4.2		%				61,573						5.7		%
Corporate and Non-Allocated Costs (2)						(194,405)						(3.9)		%				(186,518)						(4.2)		%
Consolidated operating income						$	155,354					3.1		%				$	125,860					2.8		%

(1)    Includes equity in earnings of integral unconsolidated affiliates of $12.3 million and $9.6 million for the three months ended March 31, 2024 and 2023, primarily related to Quanta’s equity interest in LUMA Energy, LLC (LUMA).

(2)    Includes amortization expense of $77.5 million and $72.4 million and non-cash stock-based compensation of $35.3 million and $27.5 million for the three months ended March 31, 2024 and 2023.

The following table sets forth depreciation expense by segment for the three months ended March 31, 2024 and 2023. The table shows dollars in thousands:

						Three Months Ended
						March 31,
						2024						2023
Depreciation:
Electric Power						$	40,447					$	42,085
Renewable Energy						17,795						10,858
Underground and Infrastructure						24,986						20,500
Corporate and Non-Allocated Costs						5,667						4,939
Consolidated depreciation						$	88,895					$	78,382

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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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