v3.25.0.1
Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Summary of Plan Information Relating to Participation in Multiemployer Pension Plans
The following table summarizes plan information relating to Quanta’s participation in multiemployer defined benefit pension plans, including company contributions for the last three years, the status of the plans under the PPA and whether the plans are subject to a funding improvement or rehabilitation plan or contribution surcharges. The most recent PPA zone status available in 2024 and 2023 generally relates to the plans’ fiscal year-ends in 2023 and 2022. Forms 5500 were not yet available for the plan years ending in 2024. The PPA zone status is based on information that Quanta received from the respective plans’ administrators, as well as publicly available information on the U.S. Department of Labor website, and is certified by each plan’s actuary. Although multiple factors or tests may result in red zone or yellow zone status, plans in the red zone generally are less than 65 percent funded, plans in the yellow zone generally are less than 80 percent funded, and plans in the green zone generally are at least 80 percent funded. Under the PPA, red zone plans are classified as “critical” status, yellow zone plans are classified as “endangered” status and green zone plans are classified as neither “endangered” nor “critical” status. The “Subject to Financial Improvement/ Rehabilitation Plan” column indicates plans for which a financial improvement plan or a rehabilitation plan is either pending or has been implemented. The last column lists the expiration dates of Quanta’s collective-bargaining agreements to which the plans are subject. Total contributions to these plans correspond to the number of union employees employed at any given time and the plans in which they participate and vary depending upon the location and number of ongoing projects at a given time and the need for union resources in connection with such projects. Information has been presented separately for individually significant plans, based on PPA funding status classification, and in the aggregate for all other plans.
Employee Identification Number/ Pension Plan NumberPPA Zone StatusSubject to Financial Improve- ment/ Reha- bilitation PlanContributions (in thousands)Sur-charge ImposedExpiration Date of Collective Bargaining Agreement
Fund20242023202420232022
National Electrical Benefit Fund53-0181657GreenGreenNo$41,321 $47,126 $47,390 NoVaries through January 2029
Eighth District Electrical Pension Fund84-6100393GreenGreenNo13,820 6,169 5,119 NoVaries through August 2027
Excavators Union Local 731 Pension Fund13-1809825GreenGreenNo11,974 11,411 20,733 NoApril 2026
Central Pension Fund of the IUOE & Participating Employers36-6052390GreenGreenNo8,496 7,396 11,989 NoVaries through May 2027
IBEW 332 Pension Plan - Part A94-2688032GreenGreenNo8,404 — — NoMay 2027
Local Union No. 124 I.B.E.W. Pension Trust Fund43-0817626GreenGreenNo5,836 — — NoDecember 2027
IBEW Local 683 Pension Fund Pension Plan34-1442087GreenGreenNo5,828 731 12 NoVaries through May 2027
Locals 302 & 612 of the IUOE - Employers Construction Industry Retirement Plan91-6028571GreenGreenNo3,644 2,707 1,675 NoVaries through May 2027
Laborers Pension Trust Fund for Northern California94-6277608GreenGreenNo3,468 3,342 4,849 NoVaries through June 2027
Operating Engineers’ Local 324 Pension Fund
38-1900637RedRedYes3,367 3,193 2,951 YesVaries through May 2026
Local 697 I.B.E.W. and Electrical Industry Pension Plan51-6133048GreenGreenNo3,228 2,227 2,509 NoMay 2025
Kern County Electrical Workers Pension Fund95-6123049GreenGreenNo2,675 325 31 NoVaries through November 2027
Pension Trust Fund for Operating Engineers94-6090764GreenYellowNo2,504 2,176 1,898 NoVaries through May 2026
Pipeline Industry Pension Fund73-6146433GreenGreenNo2,478 2,733 2,477 NoVaries through December 2026
Construction Laborers Pension Trust Fund for Southern California43-6159056GreenGreenNo1,764 2,729 1,355 NoVaries through June 2026
Central Laborers’ Pension Fund
37-6052379YellowYellowYes1,484 2,342 739 NoVaries through May 2026
Alaska Teamster - Employer Pension Plan92-6003463RedRedYes1,222 80 — YesMay 2026
Laborers National Pension Fund75-1280827RedRedYes1,205 746 667 YesVaries through November 2028
Alaska Plumbing and Pipefitting Industry Pension Plan52-6103810RedRedYes986 83 — YesMay 2026
Employer - Teamsters Local Nos. 175 & 505 Pension Trust Fund55-6021850RedRedYes900 1,027 52 YesMay 2026
Operating Engineers Pension Trust95-6032478GreenYellowNo871 1,473 1,360 NoVaries through June 2025
IBEW Local 1249 Pension Plan15-6035161GreenGreenNo505 1,931 4,558 NoMay 2025
All other plans - U.S.51,303 37,302 37,790 
All other plans - Canada (1)
6,473 12,515 19,245 
Total contributions$183,756 $149,764 $167,399 
(1)    Multiemployer defined benefit pension plans in Canada are not subject to the reporting requirements under the PPA. Accordingly, certain information was not publicly available.
Quanta’s contributions to the following individually significant plans were five percent or more of the total contributions to these plans for the periods indicated based on the Forms 5500 for these plans for the years ended December 31, 2023 and 2022. Forms 5500 were not yet available for these plans for the year ended December 31, 2024.
Pension FundPlan Years in which Quanta Contributions Were Five Percent or More of Total Plan Contributions
National Electrical Benefit Fund2023 and 2022
Eighth District Electrical Pension Fund2023 and 2022
Excavators Union Local 731 Pension Fund2023 and 2022
Local 697 I.B.E.W. and Electrical Industry Pension Plan2023 and 2022
Pipeline Industry Pension Fund2023 and 2022
IBEW Local 1249 Pension Plan2022
Local Union No 9 I.B.E.W and Outside Contractors Pension Fund (1)
2022
I.B.E.W. Local 456 Pension Plan (1)
2023 and 2022
Teamster National Pipe Line Pension Plan (1)
2023 and 2022
(1)    This plan is included in the “All other plans - U.S.” category in the prior table.
Schedule of Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits by Title of Individual and Type of Deferred Compensation
Changes in the fair market value of Quanta’s COLI assets and deferred compensation liabilities largely offset and are recorded in the accompanying statements of operations as follows (in thousands):
Year Ended December 31,
ClassificationChange in fair market value of202420232022
(Loss) gain included in Selling, general and administrative expenses
Deferred compensation liabilities$(14,108)$(13,325)$13,192 
Other income (expense), net
COLI assets$12,446 $11,587 $(13,757)