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Investments in Affiliates and Other Entities | 3 Months Ended
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Mar. 31, 2025
Investments [Abstract] |
Investments in Affiliates and Other Entities | 6. INVESTMENTS IN AFFILIATES AND OTHER ENTITIES: Equity Investments The following table presents Quanta’s equity investments by type (in thousands):
|  | March 31, 2025 |  | December 31, 2024
Equity method investments - integral unconsolidated affiliates |  | $ | 102,991 |  |  | $ | 101,460 |
Equity method investments - non-integral unconsolidated affiliates |  | 78,101 |  |  | 77,617 |
Non-marketable equity securities |  | 66,122 |  |  | 62,539 |
Total equity investments |  | $ | 247,214 |  |  | $ | 241,616 |
Equity Method Investments During the three months ended March 31, 2024, Quanta sold a non-integral equity method investment and recognized a $12.2 million gain, $4.9 million of which was attributable to non-controlling interests. Also during the three months ended March 31, 2024, Quanta received $34.9 million in cash related to the sale of this investment, $4.9 million of which was distributed to non-controlling interests. As of March 31, 2025 and December 31, 2024, Quanta had receivables of $138.0 million and $133.3 million from its integral unconsolidated affiliates and payables of $26.1 million and $15.4 million to its integral unconsolidated affiliates. Quanta recognized revenues of $51.1 million and $59.0 million during the three months ended March 31, 2025 and 2024 from services provided to its integral unconsolidated affiliates, primarily related to services provided to LUMA Energy, LLC at cost. In addition, during the three months ended March 31, 2025 and 2024, Quanta recognized costs of services of $94.9 million and $88.9 million for services provided to Quanta by other integral unconsolidated affiliates. Total equity in earnings from integral unconsolidated affiliates was $12.9 million and $12.3 million for the three months ended March 31, 2025 and 2024. Total equity in earnings from non-integral unconsolidated affiliates was $0.1 million and $3.6 million for the three months ended March 31, 2025 and 2024. As of March 31, 2025, Quanta had $56.1 million of undistributed earnings from unconsolidated affiliates. The difference between Quanta’s carrying value and the underlying equity in the net assets of its equity investments is assigned to the assets and liabilities of the investment, giving rise to a basis difference, which was $43.8 million and $44.5 million as of March 31, 2025 and December 31, 2024. The amortization of the basis difference is primarily included in “Equity in earnings of integral unconsolidated affiliates” in the accompanying condensed consolidated statements of operations was $0.7 million and $1.5 million for the three months ended March 31, 2025 and 2024.

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- Definition The entire disclosure for investment. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/320/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Topic 321 -Publisher FASB -URI https://asc.fasb.org/321/tableOfContent Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Topic 325 -Publisher FASB -URI https://asc.fasb.org/325/tableOfContent + Details
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