v3.25.0.1
Revenue Recognition and Related Balance Sheet Accounts (Tables)
 12 Months Ended
Dec. 31, 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):
Year Ended December 31,
202420232022
By contract type:
Fixed price contracts$13,307,321 56.2 %$10,251,037 49.1 %$7,282,537 42.7 %
Unit-price contracts6,475,714 27.4 6,586,982 31.5 5,927,335 34.7 
Cost-plus contracts3,889,760 16.4 4,044,187 19.4 3,864,031 22.6 
Total revenues$23,672,795 100.0 %$20,882,206 100.0 %$17,073,903 100.0 %
Year Ended December 31,
202420232022
By primary geographic location:
United States$21,606,807 91.3 %$17,910,892 85.8 %$14,390,237 84.3 %
Canada1,025,074 4.3 2,045,999 9.8 2,020,853 11.8 
Australia666,870 2.8 612,497 2.9 428,321 2.5 
Others374,044 1.6 312,818 1.5 234,492 1.4 
Total revenues$23,672,795 100.0 %$20,882,206 100.0 %$17,073,903 100.0 %
Contract Assets and Liabilities
Contract assets and liabilities consisted of the following (in thousands):
December 31, 2024December 31, 2023December 31, 2022
Contract assets$1,208,619 $1,413,057 $1,080,206 
Contract liabilities$2,149,328 $1,538,677 $1,141,518 
Composition of the Allowance for Credit Losses
Activity in Quanta’s allowance for credit losses consisted of the following (in thousands):     
Year Ended December 31,
202420232022
Balance at beginning of year$13,962 $15,644 $49,749 
Increase in provision for credit losses4,279 5,927 350 
Write-offs charged against the allowance net of recoveries of amounts previously written off(3,056)(7,609)(34,455)
Balance at end of year$15,185 $13,962 $15,644