Debt Obligations (Tables)
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12 Months Ended |
Dec. 31, 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): | | | | | | | | | | | | | | December 31, | | | 2024 | | 2023 | 0.95% Senior Notes due October 2024 | $ | — | | | $ | 500,000 | | 4.75% Senior Notes due August 2027 | 600,000 | | | — | | 2.90% Senior Notes due October 2030 | 1,000,000 | | | 1,000,000 | | 2.35% Senior Notes due January 2032 | 500,000 | | | 500,000 | | 5.25% Senior Notes due August 2034 | 650,000 | | | — | | 3.05% Senior Notes due October 2041 | 500,000 | | | 500,000 | | | Borrowings under senior credit facility (including Term Loan) | 735,445 | | | 867,137 | | | Borrowings under commercial paper program | — | | | 705,900 | | Lease financing transactions | 155,549 | | | 102,955 | | | Other long-term debt | 4,939 | | | 6,279 | | | Finance leases | 47,993 | | | 39,577 | | | Unamortized discount and financing costs | (31,490) | | | (23,142) | | | Total long-term debt obligations | 4,162,436 | | | 4,198,706 | | | Less — Current maturities of long-term debt | 62,680 | | | 535,202 | | | Total long-term debt obligations, net of current maturities | $ | 4,099,756 | | | $ | 3,663,504 | |
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| Schedule of Maturities of Long-term Debt |
As of December 31, 2024, principal payments required to be made during the next five years are set forth in the table below. The payments required under finance leases are provided in Note 11. | | | | | | | | | | 2025 | | $ | 51,039 | | | 2026 | | $ | 688,395 | | | 2027 | | $ | 609,517 | | | 2028 | | $ | 6,809 | | | 2029 | | $ | 27,253 | |
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| Schedule of Long-term Debt Instruments |
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 | 4.75% Senior Notes due August 2027 | | $ | 14,250 | | | February 9 and August 9 | | February 9, 2025 | 2.90% Senior Notes due October 2030 | | $ | 14,500 | | | April 1 and October 1 | | April 1, 2021 | 2.35% Senior Notes due January 2032 | | $ | 5,875 | | | January 15 and July 15 | | July 15, 2022 | 5.25% Senior Notes due August 2034 | | $ | 17,063 | | | February 9 and August 9 | | February 9, 2025 | 3.05% Senior Notes due October 2041 | | $ | 7,625 | | | April 1 and October 1 | | April 1, 2022 |
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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): | | | | | | | | | | | | | | | | | | | Year Ended December 31, | | 2024 | | 2023 | | 2022 | | Maximum amount outstanding | $ | 1,262,736 | | | $ | 1,004,677 | | | $ | 1,684,783 | | | Average daily amount outstanding | $ | 855,033 | | | $ | 929,201 | | | $ | 1,250,493 | | | Weighted-average interest rate | 6.62 | % | | 6.62 | % | | 3.03 | % |
Borrowings under the commercial paper program and the applicable interest rates were as follows (dollars in thousands): | | | | | | | | | | | | | | | | | | | | | | | Year Ended December 31, | | | 2024 | | 2023 | | 2022 (1) | Maximum amount outstanding | | $ | 1,415,000 | | $ | 938,400 | | $ | 707,300 | Average daily amount outstanding | | $ | 362,220 | | $ | 644,942 | | $ | 462,359 | Weighted-average interest rate | | 5.37 | % | | 5.82 | % | | 4.47 | % |
(1) The amounts in this column represent activity beginning on the date Quanta first issued its commercial paper notes, which was September 2, 2022, through December 31, 2022.
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