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Segment Information (Tables)

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Summarized Financial Information

The following table sets forth segment revenues and segment operating income (loss) for the three and nine months ended September 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 September 30,																								Nine Months Ended September 30,
						2024												2023												2024												2023
Revenues:
Electric Power						$	2,982,032					45.9		%				$	2,489,547					44.3		%				$	7,761,480					45.3		%				$	7,240,838					48.0		%
Renewable Energy						2,251,855						34.7						1,746,636						31.1						5,870,411						34.3						4,144,304						27.4
Underground and Infrastructure						1,259,280						19.4						1,384,639						24.6						3,487,482						20.4						3,713,116						24.6
Consolidated revenues						$	6,493,167					100.0		%				$	5,620,822					100.0		%				$	17,119,373					100.0		%				$	15,098,258					100.0		%
Operating income (loss):
Electric Power (1)						$	354,505					11.9		%				$	296,176					11.9		%				$	846,390					10.9		%				$	755,342					10.4		%
Renewable Energy						221,509						9.8		%				151,389						8.7		%				459,076						7.8		%				297,532						7.2		%
Underground and Infrastructure						93,956						7.5		%				123,764						8.9		%				222,437						6.4		%				292,544						7.9		%
Corporate and Non-Allocated Costs (2)						(238,809)						(3.7)		%				(171,000)						(3.0)		%				(634,158)						(3.7)		%				(539,956)						(3.6)		%
Consolidated operating income						$	431,161					6.6		%				$	400,329					7.1		%				$	893,745					5.2		%				$	805,462					5.3		%

(1)    Includes equity in earnings of integral unconsolidated affiliates of $14.0 million and $11.7 million for the three months ended September 30, 2024 and 2023 and $34.9 million and $30.7 million for the nine months ended September 30, 2024 and 2023, primarily related to Quanta’s equity interest in LUMA Energy, LLC (LUMA).

(2)    Includes amortization expense of $110.4 million and $71.4 million and non-cash stock-based compensation of $38.2 million and $32.5 million for the three months ended September 30, 2024 and 2023. Includes amortization expense of $267.1 million and $213.8 million and non-cash stock-based compensation of $110.8 million and $94.6 million for the nine months ended September 30, 2024 and 2023.

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

						Three Months Ended												Nine Months Ended
						September 30,												September 30,
						2024						2023						2024						2023
Depreciation:
Electric Power						$	42,120					$	38,228					$	122,775					$	121,670
Renewable Energy						20,619						15,812						58,298						37,351
Underground and Infrastructure						21,414						23,940						64,144						63,575
Corporate and Non-Allocated Costs						5,826						3,508						17,308						17,150
Consolidated depreciation						$	89,979					$	81,488					$	262,525					$	239,746

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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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