Revenue Recognition and Related Balance Sheet Accounts (Tables)

3 Months Ended

Mar. 31, 2023

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 March 31,
	2023				2022
By contract type:
Fixed price contracts	$	1,934,888	43.7	%	$	1,689,635	42.6	%
Unit-price contracts	1,497,394		33.8		1,357,602		34.2
Cost-plus contracts	996,544		22.5		918,288		23.2
Total revenues	$	4,428,826	100.0	%	$	3,965,525	100.0	%

	Three Months Ended March 31,
	2023				2022
By primary geographic location:
United States	$	3,666,365	82.8	%	$	3,323,969	83.8	%
Canada	542,360		12.2		550,905		13.9
Australia	154,677		3.5		55,201		1.4
Others	65,424		1.5		35,450		0.9
Total revenues	$	4,428,826	100.0	%	$	3,965,525	100.0	%

Contract Assets and Liabilities

Contract assets and liabilities consisted of the following (in thousands):

	March 31, 2023		December 31, 2022
Contract assets	$	1,287,454	$	1,080,206
Contract liabilities	$	1,143,041	$	1,141,518

Composition of the Allowance for Credit Losses

Activity in Quanta’s allowance for credit losses consisted of the following (in thousands):

	Three Months Ended
	March 31,
	2023		2022
Balance at beginning of period	$	15,644	$	49,749
Increase in provision for credit losses	2,358		133
Write-offs charged against the allowance net of recoveries of amounts previously written off	(1,472)		34
Balance at end of period	$	16,530	$	49,916