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Leases (Tables)
 6 Months Ended
Jun. 30, 2024
Leases [Abstract]  
Components of Lease Costs The components of lease costs in the accompanying condensed consolidated statements of operations are as follows (in thousands):
Three Months EndedSix Months Ended
 June 30,June 30,
Lease costClassification2024202320242023
Finance lease cost:
Amortization of lease assets
Depreciation (1)
$2,825 $1,102 $5,794 $2,013 
Interest on lease liabilitiesInterest and other financing expenses688 299 1,410 507 
Lease financing transactions: (2)
Depreciation
Depreciation (1)
2,503 1,633 4,595 3,885 
InterestInterest and other financing expenses4,294 2,559 7,792 6,858 
Operating lease costCost of services and Selling, general and administrative expenses26,036 23,140 51,570 46,363 
Short-term and variable lease cost (3)
Cost of services and Selling, general and administrative expenses284,766 249,868 572,101 487,946 
Total lease cost $321,112 $278,601 $643,262 $547,572 
(1)    Depreciation is included within “Cost of services” and “Selling, general and administrative expenses” in the accompanying condensed consolidated statements of operations.
(2)    Certain of Quanta’s equipment rental agreements contain purchase options pursuant to which the purchase price is offset by a portion of the rental payments. When these purchase options are exercised by a third-party lessor on behalf of Quanta, the transaction is deemed to be a financing transaction for accounting purposes, which results in the recognition of an asset equal to the purchase price and a corresponding liability.
(3)    Short-term lease cost includes both leases and rentals with initial terms of one year or less. Variable lease cost is insignificant.
Future Minimum Lease Payments - Operating Leases
Future minimum lease payments for operating leases and finance leases were as follows (in thousands):
 As of June 30, 2024
 Operating LeasesFinance LeasesTotal
Remainder of 2024$50,328 $4,862 $55,190 
202587,853 9,238 97,091 
202668,936 8,761 77,697 
202750,038 7,715 57,753 
202831,754 7,113 38,867 
Thereafter39,509 5,845 45,354 
Total future minimum payments related to operating leases and finance leases
328,418 43,534 371,952 
Less imputed interest(33,491)(3,391)(36,882)
Total
$294,927 $40,143 $335,070 
Future Minimum Lease Payments - Finance Leases
Future minimum lease payments for operating leases and finance leases were as follows (in thousands):
 As of June 30, 2024
 Operating LeasesFinance LeasesTotal
Remainder of 2024$50,328 $4,862 $55,190 
202587,853 9,238 97,091 
202668,936 8,761 77,697 
202750,038 7,715 57,753 
202831,754 7,113 38,867 
Thereafter39,509 5,845 45,354 
Total future minimum payments related to operating leases and finance leases
328,418 43,534 371,952 
Less imputed interest(33,491)(3,391)(36,882)
Total
$294,927 $40,143 $335,070 
Other Information Related to Leases
The weighted average remaining lease terms (other than for short-term leases) and discount rates were as follows:
 As of June 30, 2024
Weighted average remaining lease term (in years):
Operating leases4.42
Finance leases5.06
Weighted average discount rate:
Operating leases4.7 %
Finance leases6.4 %