Debt Obligations (Tables)
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9 Months Ended |
Sep. 30, 2024 |
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| Debt Disclosure [Abstract] |
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| Long-term Debt Obligations |
Quanta’s long-term debt obligations consisted of the following (in thousands): | | | | | | | | | | | | | | | | | September 30, 2024 | | December 31, 2023 | 0.950% Senior Notes due October 2024 | | $ | 500,000 | | | $ | 500,000 | | 4.750% Senior Notes due August 2027 | | 600,000 | | | — | | 2.900% Senior Notes due October 2030 | | 1,000,000 | | | 1,000,000 | | 2.350% Senior Notes due January 2032 | | 500,000 | | | 500,000 | | 5.250% Senior Notes due August 2034 | | 650,000 | | | — | | 3.050% Senior Notes due October 2041 | | 500,000 | | | 500,000 | | | Borrowings under senior credit facility (including Term Loan) | | 776,174 | | | 867,137 | | | Borrowings under commercial paper program | | — | | | 705,900 | | | Lease financing transactions | | 144,083 | | | 102,955 | | | Other long-term debt | | 5,277 | | | 6,279 | | | Finance leases | | 45,321 | | | 39,577 | | | Unamortized discount and financing costs | | (32,774) | | | (23,142) | | | Total long-term debt obligations | | 4,688,081 | | | 4,198,706 | | | Less — Current maturities of long-term debt | | 556,238 | | | 535,202 | | | Total long-term debt obligations, net of current maturities | | $ | 4,131,843 | | | $ | 3,663,504 | |
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| Schedule of Interest on Senior Notes |
The interest amounts due on Quanta’s senior notes on each payment date are set forth below (dollars in thousands): | | | | | | | | | | | | | | | | | | | | | | Title of the Notes | | Interest Amount | | Payment Dates | | Commencement Date | 0.950% Senior Notes due October 2024 (1) | | $ | 2,375 | | | April 1 and October 1 | | April 1, 2022 | 4.750% Senior Notes due August 2027 | | $ | 14,250 | | | February 9 and August 9 | | February 9, 2025 | 2.900% Senior Notes due October 2030 | | $ | 14,500 | | | April 1 and October 1 | | April 1, 2021 | 2.350% Senior Notes due January 2032 | | $ | 5,875 | | | January 15 and July 15 | | July 15, 2022 | 5.250% Senior Notes due August 2034 | | $ | 17,063 | | | February 9 and August 9 | | February 9, 2025 | 3.050% Senior Notes due October 2041 | | $ | 7,625 | | | April 1 and October 1 | | April 1, 2022 |
(1) Quanta repaid the $500.0 million aggregate principal amount of the 0.950% senior notes due October 2024 on October 1, 2024, and therefore no interest payments will be made after such date with respect to such notes.
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| Borrowings under Credit Facility and Applicable Interest Rates |
Borrowings under the senior credit facility and the applicable interest rates were as follows (dollars in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Nine Months Ended | | | September 30, | | September 30, | | | 2024 | | 2023 | | 2024 | | 2023 | | Maximum amount outstanding | | $ | 1,262,736 | | | $ | 1,004,677 | | | $ | 1,262,736 | | | $ | 1,004,677 | | | Average daily amount outstanding | | $ | 978,939 | | | $ | 965,022 | | | $ | 897,753 | | | $ | 928,318 | | | Weighted-average interest rate | | 6.71 | % | | 6.70 | % | | 6.75 | % | | 6.39 | % |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Nine Months Ended | | | September 30, | | September 30, | | | 2024 | | 2023 | | 2024 | | 2023 | | Maximum amount outstanding | | $ | 1,415,000 | | | $ | 810,500 | | | $ | 1,415,000 | | | $ | 841,400 | | | Average daily amount outstanding | | $ | 456,212 | | | $ | 627,877 | | | $ | 325,171 | | | $ | 624,476 | | | Weighted-average interest rate | | 5.15 | % | | 5.95 | % | | 5.50 | % | | 5.79 | % |
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