v3.26.3
Revenue Recognition and Related Balance Sheet Accounts (Tables)
 9 Months Ended
Sep. 30, 2026
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 September 30,Nine Months Ended September 30,
2026202520262025
By contract type:
Fixed price contracts$8,176,256 68.1 %$4,813,711 63.1 %$19,033,523 64.6 %$12,517,491 60.7 %
Unit-price contracts1,840,389 15.3 1,692,949 22.2 5,333,188 18.1 4,882,579 23.7 
Cost-plus contracts1,998,232 16.6 1,124,748 14.7 5,079,950 17.3 3,237,679 15.6 
Total revenues$12,014,877 100.0 %$7,631,408 100.0 %$29,446,661 100.0 %$20,637,749 100.0 %
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
By primary geographic location:
United States$11,428,787 95.2 %$7,112,960 93.3 %$27,893,860 94.8 %$19,180,023 92.9 %
Canada336,808 2.8 275,644 3.6 828,582 2.8 724,296 3.5 
Australia221,329 1.8 202,031 2.6 629,183 2.1 571,222 2.8 
Others27,953 0.2 40,773 0.5 95,036 0.3 162,208 0.8 
Total revenues$12,014,877 100.0 %$7,631,408 100.0 %$29,446,661 100.0 %$20,637,749 100.0 %
Contract Assets and Liabilities
Contract assets and liabilities consisted of the following (in thousands):
September 30, 2026December 31, 2025
Contract assets$1,713,217 $1,522,186 
Contract liabilities$5,535,809 $3,258,465 
Composition of the Allowance for Credit Losses
Activity in Quanta’s allowance for credit losses consisted of the following (in thousands):
Three Months EndedNine Months Ended
September 30,September 30,
2026202520262025
Balance at beginning of period$12,156 $15,630 $15,706 $15,185 
Increase (decrease) in provision for credit losses1,027 897 (1,963)2,499 
Write-offs charged against the allowance net of recoveries of amounts previously written off(1,010)(563)(1,570)(1,720)
Balance at end of period$12,173 $15,964 $12,173 $15,964