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Detail of Certain Accounts
 3 Months Ended
Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Detail of Certain Accounts
13. DETAIL OF CERTAIN ACCOUNTS:
Cash and Cash Equivalents
As of March 31, 2026 and December 31, 2025, cash equivalents were $189.2 million and $227.6 million and consisted primarily of money market investments, money market mutual funds and short-term deposits.
Cash and cash equivalents held by joint ventures, which are either consolidated or proportionately consolidated, are available to support joint venture operations, but Quanta cannot utilize those assets to support its other operations. Quanta generally has no right to cash and cash equivalents held by a joint venture other than participating in distributions, to the extent made, and in the event of dissolution. Cash and cash equivalents held by Quanta’s wholly-owned captive insurance company are generally not available for use in support of its other operations. Amounts related to cash and cash equivalents held by consolidated or proportionately consolidated joint ventures and the captive insurance company, which are included in Quanta’s total cash and cash equivalents balances, were as follows (in thousands):
 March 31, 2026December 31, 2025
Cash and cash equivalents held by domestic joint ventures$73,356 $63,620 
Cash and cash equivalents held by foreign joint ventures13,454 10,639 
Total cash and cash equivalents held by joint ventures86,810 74,259 
Cash and cash equivalents held by captive insurance company16,521 19,595 
Cash and cash equivalents not held by joint ventures or captive insurance company261,430 345,654 
Total cash and cash equivalents$364,761 $439,508 
Inventories
Inventories consisted of the following (in thousands):
 March 31, 2026December 31, 2025
Construction materials and aviation spare parts
$147,527 $143,994 
Raw materials
73,565 64,758 
Work-in-process
12,226 4,427 
Finished goods and merchandise purchased for resale
213,573 157,193 
Total Inventories, net
$446,891 $370,372 
Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets consisted of the following (in thousands):
 March 31, 2026December 31, 2025
Prepaid expenses$465,512 $488,488 
Other current assets167,721 235,772 
Prepaid expenses and other current assets$633,233 $724,260 
As of March 31, 2026 and December 31, 2025, prepaid expenses primarily include prepaid job costs, prepaid insurance expense and prepaid software expense.
Other Intangible Assets
Quanta’s identifiable intangible assets were as follows (in thousands):
March 31, 2026December 31, 2025
Customer relationships$3,535,422 $3,523,939 
Backlog577,249 618,911 
Trade names794,379 794,379 
Non-compete agreements91,423 91,781 
Patented rights, developed technology, process certifications and other35,440 35,413 
Curriculum16,715 16,691 
Other intangible assets subject to amortization
5,050,628 5,081,114 
Accumulated amortization
(2,329,405)(2,177,926)
Other intangible assets subject to amortization, net
2,721,223 2,903,188 
Engineering license3,000 3,000 
Other intangible assets, net
$2,724,223 $2,906,188 
Property and Equipment
Accumulated depreciation related to property and equipment was $2.32 billion and $2.25 billion as of March 31, 2026 and December 31, 2025. In addition, Quanta held property and equipment, net of $216.3 million and $211.9 million in foreign countries, primarily Canada, as of March 31, 2026 and December 31, 2025.
Accounts Payable and Accrued Expenses
Accounts payable and accrued expenses consisted of the following (in thousands):
 March 31, 2026December 31, 2025
Accounts payable, trade$2,915,840 $2,832,600 
Accrued compensation and related expenses728,556 781,610 
Other accrued expenses1,093,845 965,248 
Accounts payable and accrued expenses$4,738,241 $4,579,458 
As of March 31, 2026 and December 31, 2025, other accrued expenses primarily include the current portion of accrued insurance liabilities as further described in Note 12, unearned revenues and income and franchise taxes payable.