v3.24.2.u1
Revenue Recognition and Related Balance Sheet Accounts (Tables)
 6 Months Ended
Jun. 30, 2024
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,
2024202320242023
By contract type:
Fixed price contracts$3,092,460 55.3 %$2,296,888 45.5 %$5,764,775 54.3 %$4,231,776 44.7 %
Unit-price contracts1,633,701 29.2 1,697,629 33.6 3,061,208 28.8 3,195,023 33.7 
Cost-plus contracts868,226 15.5 1,054,093 20.9 1,800,223 16.9 2,050,637 21.6 
Total revenues$5,594,387 100.0 %$5,048,610 100.0 %$10,626,206 100.0 %$9,477,436 100.0 %
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
By primary geographic location:
United States$5,132,607 91.8 %$4,282,902 84.8 %$9,702,323 91.3 %$7,949,267 83.9 %
Canada220,085 3.9 523,258 10.4 449,512 4.2 1,065,618 11.2 
Australia161,251 2.9 156,725 3.1 307,280 2.9 311,402 3.3 
Others80,444 1.4 85,725 1.7 167,091 1.6 151,149 1.6 
Total revenues$5,594,387 100.0 %$5,048,610 100.0 %$10,626,206 100.0 %$9,477,436 100.0 %
Contract Assets and Liabilities
Contract assets and liabilities consisted of the following (in thousands):
June 30, 2024December 31, 2023
Contract assets$1,227,543 $1,413,057 
Contract liabilities$1,483,134 $1,538,677 
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,
 2024202320242023
Balance at beginning of period$13,955 $16,530 $13,962 $15,644 
Increase in provision for credit losses191 2,889 462 5,247 
Write-offs charged against the allowance net of recoveries of amounts previously written off(417)(5,511)(695)(6,983)
Balance at end of period$13,729 $13,908 $13,729 $13,908