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Pay vs Performance Disclosure - USD ($)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table
Pay Versus Performance
As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Item 402(v) of Regulation
S-K,
Quanta is providing the following information about the relationship between executive compensation actually paid and the Company’s financial performance.
Required Disclosure of Compensation Actually Paid Versus Performance
The following table discloses compensation actually paid, as calculated under applicable SEC rules, for our Chief Executive Officer (referred to in this discussion as our principal executive officer (“PEO”)) and our
non-PEO
NEOs for the fiscal years ended December 31, 2024, 2023, 2022, 2021 and 2020. Quanta’s executive compensation programs have a history of aligning pay and performance. This is demonstrated in the Company-selected measure listed below: AIP Adjusted EBITDA, which focuses on cash-based operating performance and, among other things, encourages our NEOs to grow the Company’s business, including through expanding and developing relationships with existing and potential customers and expanding service offerings in existing and adjacent markets, and to more efficiently utilize resources. AIP Adjusted EBITDA represents the largest component of the Company’s annual incentive plan for each of the years listed below and represents a primary driver of improvement in ROIC, which is the largest component of the Company’s long-term incentive plan for each of the years listed below. For additional detail regarding the overall structure of our annual and long-term incentive plans, see
Compensation Discussion
 & Analysis – Executive Compensation Decisions for 2024
.
 
Year
 
  
Summary
Compensation
Table
Total for PEO
($)
  
Compensation
Actually Paid
to PEO
($)
(1) (2)
  
Average
Summary
Compensation
Table Total for
Non-PEO
NEOs
($)
(3)
  
Average
Compensation
Actually Paid
to Non-PEO
NEOs
($)
(2)
  
Value of Initial Fixed $100
Investment Based On:
  
Net Income
($)
  
AIP Adjusted
EBITDA
($)
(5)
  
Total
Shareholder
Return
($)
  
Peer Group
Total
Shareholder
Return
($)
(4)
2024
       15,626,189        28,071,619        4,557,350        7,566,317        785.80        270.31        927,283,000        2,163,804,000
2023
       14,624,532        37,757,134        4,218,658        9,181,936        536.01        186.32        750,689,000        1,930,299,000
2022
       12,038,960        39,769,586        4,356,762        10,990,868        353.32        163.33        511,643,000        1,661,473,000
2021
       10,967,217        48,236,319        4,353,114        13,991,741        283.50        160.00        491,983,000        1,176,043,000
2020
       9,802,905        34,539,536        3,524,134        9,724,273        177.74        114.86        451,959,000        1,065,502,000
 
(1) 
Our PEO included in the table above for each of 2024, 2023, 2022, 2021 and 2020 is Earl C. Austin Jr.
(2) 
The table below sets forth adjustments made to our PEO’s and each of our
non-PEO
NEOs’ total compensation reported in the Summary Compensation Table for the year ended 2024 to determine compensation actually paid. Adjustments utilized in 2023 can be found in the Company’s 2024 Proxy Statement and adjustments utilized in 2022, 2021 and 2020 can be found in the Company’s 2023 Proxy Statement.
 
    
2024
 
  
PEO
   
Average
Non-PEO
NEOs
 
Summary Compensation Table Total
     15,626,189       4,557,350  
Deduction for Summary Compensation Table Total for Stock Awards
     (12,372,234     (2,941,830
Increase based on Value of Current Year Awards Outstanding and Unvested at Year End
(a)
     10,814,491       2,657,556  
Increase based on Value of Current Year Awards that Vested in Current Year
(a)
            
Change in Value from Prior Fiscal Year End for Prior Year Awards Outstanding and Unvested at Year End
(a)
     8,457,300       2,215,075  
Change in Value from Prior Fiscal Year End to Vesting Date for Prior Year Awards that Vested in Current Year
(a)
     5,545,873       1,078,166  
Compensation Actually Paid
     28,071,619       7,566,317  
 
 
 
(a) 
The fair value of equity award adjustments for each applicable year were calculated in accordance with FASB ASC 718, and the valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant.
(3) 
Reflects the average total compensation of our
non-PEO
NEOs, as calculated in the Summary Compensation Table for each of the years shown. Our
non-PEO
NEOs included in the table above are the following individuals: for 2024, Jayshree S. Desai, J. Redgie Probst, Karl W. Studer, Gerald A. Ducey, Jr. and Derrick A. Jensen; for 2023, Jayshree S. Desai, J. Redgie Probst, Derrick A. Jensen, Gerald A. Ducey, Jr. and Paul C. Gregory; for 2022, Jayshree S. Desai, Paul C. Gregory, J. Redgie Probst and Derrick A. Jensen; and for 2021 and 2020, Derrick A. Jensen, Paul C. Gregory, J. Redgie Probst and Donald C. Wayne.
(4) 
The Company’s peer group for purposes of Item 201(e)(ii) of Regulation
S-K
was utilized for purposes of calculating peer group TSR. Such peer group includes: AECOM, Dycom Industries, Inc., EMCOR Group Inc., Fluor Corporation, Jacobs Solutions Inc., KBR, Inc., MasTec, Inc., MYR Group Inc. and Primoris Services Corporation. In accordance with applicable SEC rules, peer group TSR was calculated on a market capitalization weighted basis according to the respective issuers’ stock market capitalization at the beginning of each period for which a return is indicated. TSR for both the Company and the peer group is based on an initial $100 investment, measured on a cumulative basis from the market close on December 31, 2019, through and including the end of the fiscal year for which TSR is being presented in the table, and assumes that all dividends, if any, were reinvested.
(5) 
AIP Adjusted EBITDA is the financial measure from the tabular list of most important measures shown below, which, in the Company’s assessment, represents for 2024 the most important performance measure used to link compensation actually paid to our PEO and
non-PEO
NEOs to the Company’s performance. Adjusted EBITDA is defined in
Compensation Discussion
 & Analysis – Executive Compensation Decisions for 2024 – Annual Incentive Plan
and is a
non-GAAP
financial measure. For a reconciliation of AIP Adjusted EBITDA to operating income for the year ended 2024 determined in accordance with GAAP, see Appendix A to this Proxy Statement.
       
Company Selected Measure Name AIP Adjusted EBITDA        
Named Executive Officers, Footnote Reflects the average total compensation of our
non-PEO
NEOs, as calculated in the Summary Compensation Table for each of the years shown. Our
non-PEO
NEOs included in the table above are the following individuals: for 2024, Jayshree S. Desai, J. Redgie Probst, Karl W. Studer, Gerald A. Ducey, Jr. and Derrick A. Jensen; for 2023, Jayshree S. Desai, J. Redgie Probst, Derrick A. Jensen, Gerald A. Ducey, Jr. and Paul C. Gregory; for 2022, Jayshree S. Desai, Paul C. Gregory, J. Redgie Probst and Derrick A. Jensen; and for 2021 and 2020, Derrick A. Jensen, Paul C. Gregory, J. Redgie Probst and Donald C. Wayne.
       
Peer Group Issuers, Footnote The Company’s peer group for purposes of Item 201(e)(ii) of Regulation
S-K
was utilized for purposes of calculating peer group TSR. Such peer group includes: AECOM, Dycom Industries, Inc., EMCOR Group Inc., Fluor Corporation, Jacobs Solutions Inc., KBR, Inc., MasTec, Inc., MYR Group Inc. and Primoris Services Corporation. In accordance with applicable SEC rules, peer group TSR was calculated on a market capitalization weighted basis according to the respective issuers’ stock market capitalization at the beginning of each period for which a return is indicated. TSR for both the Company and the peer group is based on an initial $100 investment, measured on a cumulative basis from the market close on December 31, 2019, through and including the end of the fiscal year for which TSR is being presented in the table, and assumes that all dividends, if any, were reinvested.
       
PEO Total Compensation Amount $ 15,626,189 $ 14,624,532 $ 12,038,960 $ 10,967,217 $ 9,802,905
PEO Actually Paid Compensation Amount $ 28,071,619 37,757,134 39,769,586 48,236,319 34,539,536
Adjustment To PEO Compensation, Footnote
(2) 
The table below sets forth adjustments made to our PEO’s and each of our
non-PEO
NEOs’ total compensation reported in the Summary Compensation Table for the year ended 2024 to determine compensation actually paid. Adjustments utilized in 2023 can be found in the Company’s 2024 Proxy Statement and adjustments utilized in 2022, 2021 and 2020 can be found in the Company’s 2023 Proxy Statement.
 
    
2024
 
  
PEO
   
Average
Non-PEO
NEOs
 
Summary Compensation Table Total
     15,626,189       4,557,350  
Deduction for Summary Compensation Table Total for Stock Awards
     (12,372,234     (2,941,830
Increase based on Value of Current Year Awards Outstanding and Unvested at Year End
(a)
     10,814,491       2,657,556  
Increase based on Value of Current Year Awards that Vested in Current Year
(a)
            
Change in Value from Prior Fiscal Year End for Prior Year Awards Outstanding and Unvested at Year End
(a)
     8,457,300       2,215,075  
Change in Value from Prior Fiscal Year End to Vesting Date for Prior Year Awards that Vested in Current Year
(a)
     5,545,873       1,078,166  
Compensation Actually Paid
     28,071,619       7,566,317  
 
 
       
Non-PEO NEO Average Total Compensation Amount $ 4,557,350 4,218,658 4,356,762 4,353,114 3,524,134
Non-PEO NEO Average Compensation Actually Paid Amount $ 7,566,317 9,181,936 10,990,868 13,991,741 9,724,273
Adjustment to Non-PEO NEO Compensation Footnote
(2) 
The table below sets forth adjustments made to our PEO’s and each of our
non-PEO
NEOs’ total compensation reported in the Summary Compensation Table for the year ended 2024 to determine compensation actually paid. Adjustments utilized in 2023 can be found in the Company’s 2024 Proxy Statement and adjustments utilized in 2022, 2021 and 2020 can be found in the Company’s 2023 Proxy Statement.
 
    
2024
 
  
PEO
   
Average
Non-PEO
NEOs
 
Summary Compensation Table Total
     15,626,189       4,557,350  
Deduction for Summary Compensation Table Total for Stock Awards
     (12,372,234     (2,941,830
Increase based on Value of Current Year Awards Outstanding and Unvested at Year End
(a)
     10,814,491       2,657,556  
Increase based on Value of Current Year Awards that Vested in Current Year
(a)
            
Change in Value from Prior Fiscal Year End for Prior Year Awards Outstanding and Unvested at Year End
(a)
     8,457,300       2,215,075  
Change in Value from Prior Fiscal Year End to Vesting Date for Prior Year Awards that Vested in Current Year
(a)
     5,545,873       1,078,166  
Compensation Actually Paid
     28,071,619       7,566,317  
 
 
       
Compensation Actually Paid vs. Total Shareholder Return
Compensation Actually Paid versus Company TSR and Peer Group TSR
 
LOGO
       
Compensation Actually Paid vs. Net Income
Compensation Actually Paid versus Net Income
 
LOGO
       
Compensation Actually Paid vs. Company Selected Measure
Compensation Actually Paid versus AIP Adjusted EBITDA
 
LOGO
       
Total Shareholder Return Vs Peer Group
Compensation Actually Paid versus Company TSR and Peer Group TSR
 
LOGO
       
Tabular List, Table
Required Tabular List of Most Important Measures Linking Compensation Actually Paid During 2024 to Company Performance
As required by SEC rules, we disclose below the most important measures used by the Company to link compensation actually paid to our NEOs for 2024 to Company performance. For further information regarding these performance metrics and their function in our executive compensation program, please see
Compensation Discussion
 & Analysis – Executive Compensation Decisions for 2024
.
 
2024 Most Important Measures
AIP Adjusted EBITDA
   ROIC
AIP Adjusted EBITDA Margin
   Relative TSR
Safety Performance
       
Total Shareholder Return Amount $ 785.8 536.01 353.32 283.5 177.74
Peer Group Total Shareholder Return Amount 270.31 186.32 163.33 160 114.86
Net Income (Loss) $ 927,283,000 $ 750,689,000 $ 511,643,000 $ 491,983,000 $ 451,959,000
Company Selected Measure Amount 2,163,804,000 1,930,299,000 1,661,473,000 1,176,043,000 1,065,502,000
PEO Name Earl C. Austin Jr        
Measure:: 1          
Pay vs Performance Disclosure          
Name AIP Adjusted EBITDA        
Non-GAAP Measure Description AIP Adjusted EBITDA is the financial measure from the tabular list of most important measures shown below, which, in the Company’s assessment, represents for 2024 the most important performance measure used to link compensation actually paid to our PEO and
non-PEO
NEOs to the Company’s performance. Adjusted EBITDA is defined in
Compensation Discussion
 & Analysis – Executive Compensation Decisions for 2024 – Annual Incentive Plan
and is a
non-GAAP
financial measure. For a reconciliation of AIP Adjusted EBITDA to operating income for the year ended 2024 determined in accordance with GAAP, see Appendix A to this Proxy Statement.
       
Measure:: 2          
Pay vs Performance Disclosure          
Name AIP Adjusted EBITDA Margin        
Measure:: 3          
Pay vs Performance Disclosure          
Name ROIC        
Measure:: 4          
Pay vs Performance Disclosure          
Name Relative TSR        
Measure:: 5          
Pay vs Performance Disclosure          
Name Safety Performance        
PEO | Deduction for Summary Compensation Table Total for Stock Awards          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (12,372,234)        
PEO | Increase based on Value of Current Year Awards Outstanding and unvested at Year End [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 10,814,491        
PEO | Increase based on Value of Current Year Awards that Vested in Current Year [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0        
PEO | Change in Value from Prior Fiscal Year End for Prior Year Awards Outstanding and unvested at Year End [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 8,457,300        
PEO | Change in Value from Prior Fiscal Year End to Vesting Date for Prior Year Awards that Vested in Current Year [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 5,545,873        
Non-PEO NEO | Deduction for Summary Compensation Table Total for Stock Awards          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (2,941,830)        
Non-PEO NEO | Increase based on Value of Current Year Awards Outstanding and unvested at Year End [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 2,657,556        
Non-PEO NEO | Increase based on Value of Current Year Awards that Vested in Current Year [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0        
Non-PEO NEO | Change in Value from Prior Fiscal Year End for Prior Year Awards Outstanding and unvested at Year End [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 2,215,075        
Non-PEO NEO | Change in Value from Prior Fiscal Year End to Vesting Date for Prior Year Awards that Vested in Current Year [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 1,078,166