XML 41 R28.htm IDEA: XBRL DOCUMENT
v3.25.3

Acquisitions (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, 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 September 30, 2025 for acquisitions completed in the nine months ended September 30, 2025 (in thousands):
|  | September 30, 2025
|  | Dynamic Systems |  | All Others
Consideration: |  |  |  |
Cash |  | $ | 1,259,262 |  |  | $ | 605,642 |
Value of Quanta common stock issued |  | 218,756 |  |  | 161,554 |
Contingent consideration |  | 190,561 |  |  | 98,856 |
Fair value of total consideration transferred or estimated to be transferred |  | $ | 1,668,579 |  |  | $ | 866,052 |
Cash and cash equivalents |  | $ | 66,696 |  |  | $ | 32,874 |
Accounts receivable |  | 285,268 |  |  | 138,601 |
Contract assets |  | 9,219 |  |  | 8,322 |
Prepaid expenses and other current assets |  | 2,895 |  |  | 7,954 |
Property and equipment |  | 34,770 |  |  | 96,317 |
Other assets |  | 23,048 |  |  | 7,282 |
Identifiable intangible assets |  | 532,400 |  |  | 285,969 |
Accounts payable and accrued expenses |  | (101,984) |  |  | (65,507) |
Contract liabilities |  | (147,913) |  |  | (27,034) |
Other non-current liabilities |  | (15,770) |  |  | (3,942) |
Deferred income taxes |  | — |  |  | (1,162) |
Total identifiable net assets |  | 688,629 |  |  | 479,674 |
Goodwill |  | 979,950 |  |  | 386,378 |
Fair value of net assets acquired |  | $ | 1,668,579 |  |  | $ | 866,052 |
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 nine months ended September 30, 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).
|  | Nine Months Ended September 30, 2025
|  | Dynamic Systems |  | All Others
|  | Estimated Fair Value |  | Weighted Average Amortization Period in Years |  | Estimated Fair Value |  | Weighted Average Amortization Period in Years
Customer relationships |  | $ | 355,000 |  |  | 8.0 |  | $ | 225,889 |  |  | 6.3
Backlog |  | 58,200 |  |  | 2.0 |  | 32,635 |  |  | 2.1
Trade names |  | 101,000 |  |  | 15.0 |  | 26,366 |  |  | 15.0
Non-compete agreements |  | 18,200 |  |  | 5.0 |  | 1,079 |  |  | 5.0
Total identifiable intangible assets |  | $ | 532,400 |  |  | 8.6 |  | $ | 285,969 |  |  | 6.6
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 for businesses acquired during the nine months ended September 30, 2025 as of the respective acquisition dates:
|  | Nine Months Ended |  |  |  |
|  | September 30, 2025 |  |  |  |
|  | Range |  | Weighted Average |  |  |  |
Discount rates |  | 13% to 20% |  | 16% |  |  |  |
Customer attrition rates |  | 10% to 30% |  | 12% |  |  |  |
Summary of Contingent Consideration Liabilities | The aggregate fair value of outstanding contingent consideration liabilities for acquisitions completed prior to September 30, 2025 and their classification in the accompanying condensed consolidated balance sheets is as follows (in thousands):
|  | September 30, 2025 |  | December 31, 2024
Accounts payable and accrued expenses |  | $ | 7,311 |  |  | $ | 152,030 |
Insurance and other non-current liabilities |  | 486,675 |  |  | 192,954 |
Total contingent consideration liabilities |  | $ | 493,986 |  |  | $ | 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 nine months ended September 30, 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 |  | Nine Months Ended
|  | September 30, |  | September 30,
|  | 2025 |  | 2024 |  | 2025 |  | 2024
Revenues |  | $ | 7,701,010 |  |  | $ | 7,074,838 |  |  | $ | 21,316,195 |  |  | $ | 19,745,162 |
Net income (loss) attributable to common stock (1) |  | $ | 318,370 |  |  | $ | (15,386) |  |  | $ | 724,158 |  |  | $ | 314,015 |
(1) The pro forma results of operations for the three and nine months ended September 30, 2024 include one-time acquisition-related expenses of $453.8 million ($335.8 million net of tax) for pre-acquisition transaction costs incurred by CEI, primarily related to the vesting and increase in value of stock appreciation rights as a result of the acquisition.

X
- Definition Summary of Contingent Consideration Liabilities + References No definition available. + Details
Name: | pwr_SummaryOfContingentConsiderationLiabilitiesTableTextBlock
Namespace Prefix: | pwr_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of pro forma revenue and earnings for business combination or aggregate of series of individually immaterial business combinations. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 805 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-8 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 805 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 49 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479303/805-10-55-49 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 805 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-3 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
Name: | us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_BusinessCombinationAndAssetAcquisitionAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of finite-lived and indefinite-lived intangible assets acquired in business combination. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-1 + Details
Name: | us-gaap_FiniteLivedAndIndefiniteLivedIntangibleAssetsAcquiredAsPartOfBusinessCombinationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of finite-lived intangible asset acquired in business combination. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-1 + Details
Name: | us-gaap_ScheduleOfFiniteLivedIntangibleAssetsAcquiredAsPartOfBusinessCombinationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of asset acquired and liability assumed in business combination and recognized at acquisition date. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-1 + Details
Name: | us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration