v3.25.4
REVENUE RECOGNITION AND RELATED BALANCE SHEET ACCOUNTS (Tables)
 12 Months Ended
Dec. 31, 2025
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,
202520242023
By contract type:
Fixed price contracts$17,258,996 60.6 %$13,307,321 56.2 %$10,251,037 49.1 %
Unit-price contracts6,790,221 23.8 6,475,714 27.4 6,586,982 31.5 
Cost-plus contracts4,430,480 15.6 3,889,760 16.4 4,044,187 19.4 
Total revenues$28,479,697 100.0 %$23,672,795 100.0 %$20,882,206 100.0 %
Year Ended December 31,
202520242023
By primary geographic location:
United States$26,482,963 93.0 %$21,606,807 91.3 %$17,910,892 85.8 %
Canada1,018,752 3.6 1,025,074 4.3 2,045,999 9.8 
Australia779,532 2.7 666,870 2.8 612,497 2.9 
Others198,450 0.7 374,044 1.6 312,818 1.5 
Total revenues$28,479,697 100.0 %$23,672,795 100.0 %$20,882,206 100.0 %
Contract Assets and Liabilities
Contract assets and liabilities consisted of the following (in thousands):
December 31, 2025December 31, 2024December 31, 2023
Contract assets$1,522,186 $1,208,619 $1,413,057 
Contract liabilities$3,258,465 $2,149,328 $1,538,677 
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,
202520242023
Balance at beginning of year$15,185 $13,962 $15,644 
Increase in provision for credit losses3,717 4,279 5,927 
Write-offs charged against the allowance net of recoveries of amounts previously written off(3,196)(3,056)(7,609)
Balance at end of year$15,706 $15,185 $13,962