v3.26.3
Detail of Certain Accounts
 9 Months Ended
Sep. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Detail of Certain Accounts
13. DETAIL OF CERTAIN ACCOUNTS:
Cash and Cash Equivalents
As of September 30, 2026 and December 31, 2025, cash equivalents were $908.1 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):
September 30, 2026December 31, 2025
Cash and cash equivalents held by domestic joint ventures$148,040 $63,620 
Cash and cash equivalents held by foreign joint ventures19,634 10,639 
Total cash and cash equivalents held by joint ventures167,674 74,259 
Cash and cash equivalents held by captive insurance company11,344 19,595 
Cash and cash equivalents not held by joint ventures or captive insurance company2,136,253 345,654 
Total cash and cash equivalents$2,315,271 $439,508 
Inventories
Inventories consisted of the following (in thousands):
September 30, 2026December 31, 2025
Construction materials and aviation spare parts
$142,115 $143,994 
Raw materials
83,012 64,758 
Work-in-process
9,524 4,427 
Finished goods and merchandise purchased for resale
245,861 157,193 
Total inventories$480,512 $370,372 
Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets consisted of the following (in thousands):
September 30, 2026December 31, 2025
Prepaid expenses$705,956 $488,488 
Other current assets347,946 235,772 
Prepaid expenses and other current assets$1,053,902 $724,260 
As of September 30, 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):
September 30, 2026December 31, 2025
Customer relationships$4,111,340 $3,523,939 
Backlog675,538 618,911 
Trade names904,217 794,379 
Non-compete agreements95,296 91,781 
Patented rights, developed technology, process certifications and other35,434 35,413 
Curriculum17,508 16,691 
Other intangible assets subject to amortization
5,839,333 5,081,114 
Accumulated amortization
(2,672,463)(2,177,926)
Other intangible assets subject to amortization, net
3,166,870 2,903,188 
Engineering license3,000 3,000 
Other intangible assets, net
$3,169,870 $2,906,188 
Property and Equipment
Accumulated depreciation related to property and equipment was $2.47 billion and $2.25 billion as of September 30, 2026 and December 31, 2025. In addition, Quanta held property and equipment, net of $220.4 million and $211.9 million in foreign countries, primarily Canada, as of September 30, 2026 and December 31, 2025.
Accounts Payable and Accrued Expenses
Accounts payable and accrued expenses consisted of the following (in thousands):
September 30, 2026December 31, 2025
Accounts payable, trade$4,259,405 $2,832,600 
Accrued compensation and related expenses1,361,148 781,610 
Other accrued expenses1,569,140 965,248 
Accounts payable and accrued expenses$7,189,693 $4,579,458 
As of December 31, 2025, other accrued expenses primarily include the current portion of accrued insurance liabilities as further described in Note 12, unearned revenues and accrued interest, as well as income, franchise and sales and use taxes payable. As of September 30, 2026, other accrued expenses primarily include these items as well as the current portion of contingent consideration liabilities, as further described in Note 4.