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Acquisitions (Tables)
 3 Months Ended
Mar. 31, 2025
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Aggregate Consideration Paid or Payable and Allocation Net Assets
The following table summarizes the estimated fair value of total consideration transferred or estimated to be transferred and the fair value of assets acquired and liabilities assumed as of their respective acquisition dates as of March 31, 2025 for
acquisitions completed in the three months ended March 31, 2025 (in thousands):
March 31, 2025
Consideration:
Cash paid or payable$389,373 
Value of Quanta common stock issued161,554 
Contingent consideration38,342 
Fair value of total consideration transferred or estimated to be transferred$589,269 
Cash and cash equivalents$13,165 
Accounts receivable96,844 
Contract assets2,120 
Prepaid expenses and other current assets6,746 
Property and equipment70,069 
Other assets1,584 
Other intangible assets
207,389 
Accounts payable and accrued expenses
(43,867)
Contract liabilities(6,451)
Other non-current liabilities
(997)
Deferred income taxes(1,162)
Total identifiable net assets345,440 
Goodwill 243,829 
Fair value of net assets acquired$589,269 
Estimated Fair Values of Identifiable Intangible Assets and Related Weighted Average Amortization The following table summarizes the estimated fair values of identifiable intangible assets for the acquisitions completed in the three months ended March 31, 2025 as of the acquisition dates and the related weighted average amortization periods by type (in thousands, except for weighted average amortization periods, which are in years).    
Three Months Ended March 31, 2025
Estimated Fair ValueWeighted Average Amortization Period in Years
Customer relationships$180,999 6.0
Backlog6,885 1.5
Trade names19,226 15.0
Non-compete agreements279 5.0
Total intangible assets subject to amortization$207,389 6.7
Discount Rates and Customer Attrition Rates The following table includes the discount
rates and customer attrition rates used to determine the fair value of customer relationships intangible assets for businesses acquired during the three months ended March 31, 2025 as of the respective acquisition dates:
Three Months Ended
 March 31, 2025
RangeWeighted Average
Discount rates
18% to 20%
20%
Customer attrition rates
15% to 30%
15%
Summary of Contingent Consideration Liabilities The aggregate fair value of outstanding contingent consideration liabilities for acquisitions completed prior to March 31, 2025 and their classification in the accompanying condensed consolidated balance sheets is as follows (in thousands):
 March 31, 2025December 31, 2024
Accounts payable and accrued expenses$151,255 $152,030 
Insurance and other non-current liabilities236,336 192,954 
Total contingent consideration liabilities$387,591 $344,984 
Unaudited Supplemental Pro Forma Results of Operations
The following unaudited supplemental pro forma results of operations for Quanta, which incorporate the acquisitions completed in the three months ended March 31, 2025 and the year ended December 31, 2024, have been provided for illustrative purposes only and may not be indicative of the actual results that would have been achieved by the combined companies for the periods presented or that may be achieved by the combined companies in the future (in thousands).
Three Months Ended
March 31,
20252024
Revenues$6,234,238 $5,676,986 
Net income attributable to common stock
$144,245 $107,871