v3.25.2
Revenue Recognition and Related Balance Sheet Accounts (Tables)
 6 Months Ended
Jun. 30, 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 June 30,Six Months Ended June 30,
2025202420252024
By contract type:
Fixed price contracts$3,948,454 58.3 %$3,092,460 55.3 %$7,703,780 59.2 %$5,764,775 54.3 %
Unit-price contracts1,734,144 25.6 1,633,701 29.2 3,189,630 24.5 3,061,208 28.8 
Cost-plus contracts1,090,409 16.1 868,226 15.5 2,112,931 16.3 1,800,223 16.9 
Total revenues$6,773,007 100.0 %$5,594,387 100.0 %$13,006,341 100.0 %$10,626,206 100.0 %
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
By primary geographic location:
United States$6,279,010 92.8 %$5,132,607 91.8 %$12,067,063 92.9 %$9,702,323 91.3 %
Canada238,406 3.5 220,085 3.9 448,652 3.4 449,512 4.2 
Australia198,104 2.9 161,251 2.9 369,191 2.8 307,280 2.9 
Others57,487 0.8 80,444 1.4 121,435 0.9 167,091 1.6 
Total revenues$6,773,007 100.0 %$5,594,387 100.0 %$13,006,341 100.0 %$10,626,206 100.0 %
Contract Assets and Liabilities
Contract assets and liabilities consisted of the following (in thousands):
June 30, 2025December 31, 2024
Contract assets$1,347,057 $1,208,619 
Contract liabilities$2,139,490 $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 EndedSix Months Ended
June 30,June 30,
 2025202420252024
Balance at beginning of period$15,551 $13,955 $15,185 $13,962 
Increase in provision for credit losses654 191 1,602 462 
Write-offs charged against the allowance net of recoveries of amounts previously written off(575)(417)(1,157)(695)
Balance at end of period$15,630 $13,729 $15,630 $13,729