XML 39 R27.htm IDEA: XBRL DOCUMENT v3.25.1
Revenue Recognition and Related Balance Sheet Accounts (Tables)
 3 Months Ended
Mar. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Disaggregated by Geographic Location and Contract Type The following tables present Quanta’s revenue disaggregated by contract type and by geographic location, as determined by the job location (in thousands):
Three Months Ended March 31,
20252024
By contract type:
Fixed price contracts$3,755,326 60.2 %$2,672,315 53.1 %
Unit-price contracts1,455,486 23.4 1,427,507 28.4 
Cost-plus contracts1,022,522 16.4 931,997 18.5 
Total revenues$6,233,334 100.0 %$5,031,819 100.0 %
Three Months Ended March 31,
20252024
By primary geographic location:
United States$5,788,053 92.9 %$4,569,716 90.8 %
Canada210,246 3.4 229,427 4.6 
Australia171,087 2.7 146,029 2.9 
Others63,948 1.0 86,647 1.7 
Total revenues$6,233,334 100.0 %$5,031,819 100.0 %
Contract Assets and Liabilities
Contract assets and liabilities consisted of the following (in thousands):
March 31, 2025December 31, 2024
Contract assets$1,259,040 $1,208,619 
Contract liabilities$2,151,553 $2,149,328 
Composition of the Allowance for Credit Losses
Activity in Quanta’s allowance for credit losses consisted of the following (in thousands):
 Three Months Ended
March 31,
 20252024
Balance at beginning of period$15,185 $13,962 
Increase in provision for credit losses948 271 
Write-offs charged against the allowance net of recoveries of amounts previously written off(582)(278)
Balance at end of period$15,551 $13,955