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Segment Information (Tables)

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Summarized Financial Information

The following table sets forth segment revenues and segment operating income (loss) for the three and six months ended June 30, 2024 and 2023. Operating margin is calculated by dividing operating income (loss) by revenues. The following table shows dollars in thousands:

						Three Months Ended June 30,																								Six Months Ended June 30,
						2024												2023												2024												2023
Revenues:
Electric Power						$	2,452,488					43.8		%				$	2,415,254					47.9		%				$	4,779,448					44.9		%				$	4,751,291					50.1		%
Renewable Energy						2,034,392						36.4						1,389,368						27.5						3,618,556						34.1						2,397,668						25.3
Underground and Infrastructure						1,107,507						19.8						1,243,988						24.6						2,228,202						21.0						2,328,477						24.6
Consolidated revenues						$	5,594,387					100.0		%				$	5,048,610					100.0		%				$	10,626,206					100.0		%				$	9,477,436					100.0		%
Operating income (loss):
Electric Power (1)						$	263,860					10.8		%				$	244,017					10.1		%				$	491,885					10.3		%				$	459,166					9.7		%
Renewable Energy						162,721						8.0		%				110,487						8.0		%				237,567						6.6		%				146,143						6.1		%
Underground and Infrastructure						81,593						7.4		%				107,207						8.6		%				128,481						5.8		%				168,780						7.2		%
Corporate and Non-Allocated Costs (2)						(200,944)						(3.6)		%				(182,438)						(3.6)		%				(395,349)						(3.7)		%				(368,956)						(3.9)		%
Consolidated operating income						$	307,230					5.5		%				$	279,273					5.5		%				$	462,584					4.4		%				$	405,133					4.3		%

(1)    Includes equity in earnings of integral unconsolidated affiliates of $8.6 million and $9.4 million for the three months ended June 30, 2024 and 2023 and $20.9 million and $19.0 million for the six months ended June 30, 2024 and 2023, primarily related to Quanta’s equity interest in LUMA Energy, LLC (LUMA).

(2)    Includes amortization expense of $79.2 million and $70.0 million and non-cash stock-based compensation of $37.3 million and $34.6 million for the three months ended June 30, 2024 and 2023. Includes amortization expense of $156.7 million and $142.4 million and non-cash stock-based compensation of $72.6 million and $62.1 million for the six months ended June 30, 2024 and 2023.

The following table sets forth depreciation expense by segment for the three and six months ended June 30, 2024 and 2023. The table shows dollars in thousands:

						Three Months Ended												Six Months Ended
						June 30,												June 30,
						2024						2023						2024						2023
Depreciation:
Electric Power						$	40,208					$	41,357					$	80,655					$	83,442
Renewable Energy						19,884						10,681						37,679						21,539
Underground and Infrastructure						17,744						19,135						42,730						39,635
Corporate and Non-Allocated Costs						5,815						8,703						11,482						13,642
Consolidated depreciation						$	83,651					$	79,876					$	172,546					$	158,258

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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 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: 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 3: 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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