As of September 30, 2024 and December 31, 2023, cash equivalents were $540.4 million and $610.8 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, 2024		December 31, 2023
Cash and cash equivalents held by domestic joint ventures	$	67,784	$	41,427
Cash and cash equivalents held by foreign joint ventures	10,687		10,968
Total cash and cash equivalents held by joint ventures	78,471		52,395
Cash and cash equivalents held by captive insurance company	19,319		19,088
Cash and cash equivalents not held by joint ventures or captive insurance company	666,277		1,218,765
Total cash and cash equivalents	$	764,067	$	1,290,248


	September 30, 2024		December 31, 2023
Accounts payable, trade	$	2,317,040	$	2,027,588
Accrued compensation and related expenses	725,114		526,221
Other accrued expenses	956,873		507,433
Accounts payable and accrued expenses	$	3,999,027	$	3,061,242

Other accrued expenses primarily include accrued insurance liabilities as well as income and franchise taxes payable as of December 31, 2023. The amount as of September 30, 2024 also includes the current portion of contingent consideration as further described in Note 5 and the $107 million liability related to the Peru project dispute as further described in Note 14.

Accumulated depreciation related to property and equipment was $1.93 billion and $1.82 billion as of September 30, 2024 and December 31, 2023. In addition, Quanta held property and equipment, net of $196.3 million and $245.7 million in foreign countries, primarily Canada, as of September 30, 2024 and December 31, 2023.