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Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Summarized Financial Information | The following table shows segment financial information in thousands of dollars for the periods presented. All revenues are from external customers. Segment operating margin is calculated by dividing operating income by revenues.
Year Ended December 31, 2024 |  | Electric Power (1) |  | Renewable Energy |  | Underground and Infrastructure (2) |  | Total
Revenues |  | $ | 11,166,495 |  |  | $ | 7,845,884 |  |  | $ | 4,660,416 |  |  | $ | 23,672,795 |
Segment operating expenses (excluding depreciation expense) |  | 9,757,100 |  |  | 7,098,309 |  |  | 4,308,470 |  |  | 21,163,879 |
Depreciation expense |  | 168,299 |  |  | 80,463 |  |  | 86,916 |  |  | 335,678 |
Segment operating expenses |  | 9,925,399 |  |  | 7,178,772 |  |  | 4,395,386 |  |  | 21,499,557 |
Equity in earnings on integral unconsolidated affiliates |  | 50,484 |  |  | — |  |  | — |  |  | 50,484 |
Segment operating income |  | $ | 1,291,580 |  |  | $ | 667,112 |  |  | $ | 265,030 |  |  | $ | 2,223,722 |
Segment operating margin |  | 11.6 | % |  | 8.5 | % |  | 5.7 | % |  |
Corporate and non-allocated costs (3) |  |  |  |  |  |  |  | (877,254) |
Total consolidated operating income |  |  |  |  |  |  |  | $ | 1,346,468 |
Year Ended December 31, 2023 |  | Electric Power |  | Renewable Energy |  | Underground and Infrastructure |  | Total
Revenues |  | $ | 9,696,897 |  |  | $ | 6,170,301 |  |  | $ | 5,015,008 |  |  | $ | 20,882,206 |
Segment operating expenses (excluding depreciation expense) |  | 8,556,670 |  |  | 5,638,724 |  |  | 4,559,507 |  |  | 18,754,901 |
Depreciation expense |  | 168,486 |  |  | 54,369 |  |  | 77,524 |  |  | 300,379 |
Segment operating expenses |  | 8,725,156 |  |  | 5,693,093 |  |  | 4,637,031 |  |  | 19,055,280 |
Equity in earnings on integral unconsolidated affiliates |  | 41,609 |  |  | — |  |  | — |  |  | 41,609 |
Segment operating income |  | $ | 1,013,350 |  |  | $ | 477,208 |  |  | $ | 377,977 |  |  | $ | 1,868,535 |
Segment operating margin |  | 10.5 | % |  | 7.7 | % |  | 7.5 | % |  |
Corporate and non-allocated costs (3) |  |  |  |  |  |  |  | (740,559) |
Total consolidated operating income |  |  |  |  |  |  |  | $ | 1,127,976 |
Year ended December 31, 2022 |  | Electric Power |  | Renewable Energy (4) |  | Underground and Infrastructure |  | Total
Revenues |  | $ | 8,940,276 |  |  | $ | 3,778,560 |  |  | $ | 4,355,067 |  |  | $ | 17,073,903 |
Segment operating expenses (excluding depreciation expense) |  | 7,884,793 |  |  | 3,433,717 |  |  | 3,954,407 |  |  | 15,272,917 |
Depreciation expense |  | 149,151 |  |  | 40,535 |  |  | 83,117 |  |  | 272,803 |
Segment operating expenses |  | 8,033,944 |  |  | 3,474,252 |  |  | 4,037,524 |  |  | 15,545,720 |
Equity in earnings on integral unconsolidated affiliates |  | 52,466 |  |  | — |  |  | — |  |  | 52,466 |
Segment operating income |  | $ | 958,798 |  |  | $ | 304,308 |  |  | $ | 317,543 |  |  | $ | 1,580,649 |
Segment operating margin |  | 10.7 | % |  | 8.1 | % |  | 7.3 | % |  |
Corporate and non-allocated costs (3) |  |  |  |  |  |  |  | (708,591) |
Total consolidated operating income |  |  |  |  |  |  |  | $ | 872,058 |
(1) Included in the Electric Power segment revenues during the year ended December 31, 2024 was $30.2 million recognized in connection with payments received pursuant to an arbitration award related to a large telecommunications project in Peru that was terminated during 2019 as described in Peru Project Dispute in Note 16. The segment operating income impact related to such payments was $20.7 million, including the reimbursement of certain cost of services and net of foreign currency translation losses in connection with Quanta’s substantial liquidation from Latin American operations. (2) Included in operating expenses (excluding depreciation expense) for the Underground and Infrastructure segment during the year ended December 31, 2024 was a loss of $11.9 million related to the disposition of a non-core business. (3) Corporate and non-allocated costs included amortization expense of $383.0 million, $289.0 million and $354.0 million and non-cash stock-based compensation of $150.5 million, $126.8 million and $105.6 million for the years ended December 31, 2024, 2023 and 2022. (4) Included in operating expenses (excluding depreciation expense) for the Renewable Energy segment during the year ended December 31, 2022 was $11.7 million of asset impairment charges related to a software implementation project at an acquired company, which commenced prior to Quanta’s acquisition and was discontinued in the fourth quarter of 2022. The fair value of this software was zero at December 31, 2022.

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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 + Details
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