v3.25.2
Acquisitions (Tables)
 6 Months Ended
Jun. 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 June 30, 2025 for
acquisitions completed in the six months ended June 30, 2025 (in thousands):
June 30, 2025
Consideration:
Cash$599,252 
Value of Quanta common stock issued161,554 
Contingent consideration54,878 
Fair value of total consideration transferred or estimated to be transferred$815,684 
Cash and cash equivalents$32,874 
Accounts receivable138,209 
Contract assets8,322 
Prepaid expenses and other current assets7,750 
Property and equipment96,754 
Other assets5,657 
Identifiable intangible assets285,969 
Accounts payable and accrued expenses
(68,334)
Contract liabilities(27,034)
Other non-current liabilities
(3,942)
Deferred income taxes(1,162)
Total identifiable net assets475,063 
Goodwill 340,621 
Fair value of net assets acquired$815,684 
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 six months ended June 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).    
Six Months Ended June 30, 2025
Estimated Fair ValueWeighted Average Amortization Period in Years
Customer relationships$225,889 6.3
Backlog32,635 2.6
Trade names26,366 15.0
Non-compete agreements1,079 5.0
Total intangible assets subject to amortization$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 six months ended
June 30, 2025 as of the respective acquisition dates:
Six Months Ended
 June 30, 2025
RangeWeighted Average
Discount rates
16% to 20%
19%
Customer attrition rates
15% to 30%
16%
Summary of Contingent Consideration Liabilities The aggregate fair value of outstanding contingent consideration liabilities for acquisitions completed prior to June 30, 2025 and their classification in the accompanying condensed consolidated balance sheets is as follows (in thousands):
 June 30, 2025December 31, 2024
Accounts payable and accrued expenses$4,254 $152,030 
Insurance and other non-current liabilities251,948 192,954 
Total contingent consideration liabilities$256,202 $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 six months ended June 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 EndedSix Months Ended
June 30,June 30,
2025202420252024
Revenues$6,806,575 $6,271,538 $13,093,168 $12,000,881 
Net income attributable to common stock
$229,646 $179,903 $374,719 $287,729