Quanta Services (PWR) 10-K 1 Mar 10 2009 FY Annual report Financial data

Document and Company Informatio

Document and Company Information (USD $)
In Billions, except Share data	12 Months Ended Dec. 31, 2009	Feb. 18, 2010	Jun. 30, 2009
Document and Company Information [Abstract]
Entity Registrant Name	QUANTA SERVICES INC
Entity Central Index Key	0001050915
Document Type	10-K
Document Period End Date	2009-12-31
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			4.52
Entity Common Stock, Shares Outstanding		209,396,059

Consolidated Balance Sheets

Consolidated Balance Sheets (USD $)
In Thousands	Dec. 31, 2009	Dec. 31, 2008
Current Assets:
Cash and cash equivalents	$699,629	$437,901
Accounts receivable, net of allowances of $8,802 and $8,119	688,260	795,251
Costs and estimated earnings in excess of billings on uncompleted contracts	61,239	54,379
Inventories	33,451	25,813
Prepaid expenses and other current assets	100,213	72,063
Total current assets	1,582,792	1,385,407
Property and equipment, net of accumulated depreciation of $330,070 and $383,714	854,437	635,456
Other assets, net	45,345	33,479
Other intangible assets, net of accumulated amortization of $57,215 and $96,167	184,822	140,717
Goodwill	1,449,558	1,363,100
Total assets	4,116,954	3,558,159
Current Liabilities:
Notes payable	3,426	1,155
Accounts payable and accrued expenses	422,034	400,253
Billings in excess of costs and estimated earnings on uncompleted contracts	70,228	50,390
Total current liabilities	495,688	451,798
Convertible subordinated notes, net of discount of $21,475 and $17,142	126,608	122,275
Deferred income taxes	167,575	83,861
Insurance and other non-current liabilities	216,522	217,851
Total liabilities	1,006,393	875,785
Equity:
Common stock, $.00001 par value, 300,000,000 shares authorized, 199,317,237 and 211,977,811 shares issued and 196,928,203 and 209,378,308 shares outstanding	2	2
Limited Vote Common Stock, $.00001 par value, 3,345,333 shares authorized, 662,293 shares issued and outstanding	0	0
Additional paid-in capital	3,065,581	2,803,836
Retained earnings (accumulated deficit)	75,836	(86,326)
Accumulated other comprehensive income (loss)	3,502	(2,956)
Treasury stock, 2,389,034 and 2,599,503 common shares, at cost	(35,738)	(32,182)
Total stockholders' equity	3,109,183	2,682,374
Noncontrolling interest	1,378	0
Total equity	3,110,561	2,682,374
Total liabilities and equity	$4,116,954	$3,558,159

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) (USD $)
In Thousands, except Share data	Dec. 31, 2009	Dec. 31, 2008
Current Assets:
Allowances on accounts receivable	$8,119	$8,802
Accumulated depreciation on property and equipment	383,714	330,070
Accumulated amortization on other intangible assets	96,167	57,215
LIABILITIES AND EQUITY
Discount on convertible subordinated notes	$17,142	$21,475
Equity:
Common stock, par value	0.00001	0.00001
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	211,977,811	199,317,237
Common stock, shares outstanding	209,378,308	196,928,203
Limited vote common stock, par value	0.00001	0.00001
Limited vote common stock, shares authorized	3,345,333	3,345,333
Limited vote common stock, shares issued	662,293	662,293
Limited vote common stock, shares outstanding	662,293	662,293
Treasury stock, common shares	2,599,503	2,389,034

Consolidated Statements of Oper

Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data	12 Months Ended Dec. 31, 2009	12 Months Ended Dec. 31, 2008	12 Months Ended Dec. 31, 2007
Statements of Operations [Abstract]
Revenues	$3,318,126	$3,780,213	$2,656,036
Cost of services (including depreciation)	2,724,638	3,145,347	2,227,289
Gross profit	593,488	634,866	428,747
Selling, general and administrative expenses	312,414	309,399	240,508
Amortization of intangible assets	38,952	36,300	18,759
Operating income	242,122	289,167	169,480
Interest expense	(11,269)	(32,002)	(39,328)
Interest income	2,456	9,765	19,977
Loss on early extinguishment of debt, net	0	(2)	(34)
Other income (expense), net	421	342	(546)
Income from continuing operations before income taxes	233,730	267,270	149,549
Provision for income taxes	70,195	109,705	27,684
Income from continuing operations	163,535	157,565	121,865
Discontinued operation:
Income from discontinued operation (net of income tax expense of $1,345, none and none)	0	0	2,837
Net income	163,535	157,565	124,702
Less: Net income attributable to noncontrolling interest	1,373	0	0
Net income attributable to common stock	$162,162	$157,565	$124,702
Basic earnings per share attributable to common stock:
Income from continuing operations	0.81	0.89	0.89
Income from discontinued operation	$0	$0	0.02
Net income attributable to common stock	0.81	0.89	0.91
Weighted average basic shares outstanding	200,733	178,033	136,894
Diluted earnings per share attributable to common stock:
Income from continuing operations	0.81	0.87	0.86
Income from discontinued operation	$0	$0	0.02
Net income attributable to common stock	0.81	0.87	0.88
Weighted average diluted shares outstanding	201,311	196,975	161,520

1_Consolidated Statements of Op

Consolidated Statements of Operations (Parenthetical) (USD $)
In Thousands	12 Months Ended Dec. 31, 2009	12 Months Ended Dec. 31, 2008	12 Months Ended Dec. 31, 2007
Discontinued operation:
Income tax expense	$0	$0	$1,345

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (USD $)
In Thousands	12 Months Ended Dec. 31, 2009	12 Months Ended Dec. 31, 2008	12 Months Ended Dec. 31, 2007
Cash Flows from Operating Activities:
Net income	$163,535	$157,565	$124,702
Adjustments to reconcile net income to net cash provided by operating activities -
Depreciation	86,862	77,654	55,900
Amortization of intangible assets	38,952	36,300	18,759
Non-cash interest expense	4,333	14,894	18,315
Amortization of debt issuance costs	921	1,894	2,151
Amortization of deferred revenue	(13,987)	(9,634)	(2,932)
Loss on sale of property and equipment	8,758	2,499	5,328
Gain on sale of discontinued operation	0	0	(2,348)
Loss on early extinguishment of debt	0	2	34
Foreign currency (gain) loss	(267)	0	0
Provision for doubtful accounts	2,690	7,257	1,216
Provision for insurance receivable	0	3,375	0
Deferred income tax provision (benefit)	26,911	2,588	(941)
Non-cash stock-based compensation	19,875	16,692	9,362
Tax impact of stock-based equity awards	1,509	(2,266)	(6,275)
(Increase) decrease in -
Accounts and notes receivable	253,070	(77,919)	(1,037)
Costs and estimated earnings in excess of billings on uncompleted contracts	6,002	23,473	(10,212)
Inventories	7,536	309	6,715
Prepaid expenses and other current assets	(10,580)	77	(15,517)
Increase (decrease) in -
Accounts payable and accrued expenses and other non-current liabilities	(170,010)	(840)	(14,879)
Billings in excess of costs and estimated earnings on uncompleted contracts	(50,267)	(15,177)	24,500
Other, net	1,055	3,757	6,399
Net cash provided by operating activities	376,898	242,500	219,240
Cash Flows from Investing Activities:
Proceeds from sale of property and equipment	9,064	15,407	27,498
Additions of property and equipment	(164,980)	(185,634)	(127,931)
Cash paid for acquisitions, net of cash acquired	36,234	(34,547)	(20,137)
Cash paid for developed technology	0	(14,573)	0
Purchases of short-term investments	0	0	(309,055)
Proceeds from the sale of short-term investments	0	0	309,055
Net cash used in investing activities	(119,682)	(219,347)	(120,570)
Cash Flows from Financing Activities:
Proceeds from other long-term debt	5,316	1,791	6,532
Payments on other long-term debt	(3,301)	(1,651)	(67,865)
Repayments of convertible subordinated notes	0	(156)	(33,294)
Issuances of stock	0	0	(875)
Tax impact of stock-based equity awards	(1,509)	2,266	6,275
Exercise of stock options	975	5,987	10,288
Net cash provided by (used in) financing activities	1,481	8,237	(78,939)
Effect of foreign exchange rate changes on cash and cash equivalents	3,031	(570)	3,663
Net increase in cash and cash equivalents	261,728	30,820	23,394
Cash and cash equivalents, beginning of year	437,901	407,081	383,687
Cash and cash equivalents, end of year	699,629	437,901	407,081
Cash (paid) received during the year for -
Interest paid	(5,864)	(18,248)	(19,467)
Income tax paid	(56,565)	(81,522)	(61,052)
Income tax refunds	$2,385	$4,526	$1,704

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity (USD $)
In Thousands, except Share data	Limited Vote Common Stock	Total Stockholders' Equity	Common Stock	Additional Paid-in Capital	Noncontrolling Interest	Treasury Stock	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Income	Total
Beginning Balance, Shares at Dec. 31, 2006	915,805		117,618,130
Beginning Balance at Dec. 31, 2006		$740,242	$1	$1,103,331		($22,610)	($340,480)		$740,242
Foreign currency translation adjustment		3,663						3,663	3,663
Adoption of FIN No. 48 (A Component of ASC 740)		1,471					1,471		1,471
Adoption of authoritative guidance on convertible debt		33,700		63,284			(29,584)		33,700
InfraSource acquisition		1,271,575	1	1,271,574					1,271,575
InfraSource acquisition, Shares			49,975,553
Acquisitions		22,380		22,380					22,380
Acquisitions, Shares			1,085,452
Conversion of Limited Vote Common Stock to common stock	(155,634)		155,634
Restricted stock activity		4,292		9,362		(5,070)			4,292
Restricted stock activity, Shares			348,775
Stock options exercised		10,288		10,288					10,288
Stock options exercised, Shares			1,072,087
Income tax benefit from long-term incentive plans		6,275		6,275					6,275
Other		139		139					139
Net income							124,702		124,702
Ending Balance at Dec. 31, 2007		2,218,727	2	2,486,633		(27,680)	(243,891)	3,663	2,218,727
Ending Balance, Shares at Dec. 31, 2007	760,171		170,255,631
Foreign currency translation adjustment		(6,619)						(6,619)	(6,619)
Acquisitions		22,436		22,436					22,436
Acquisitions, Shares			1,072,196
Conversion of 4.5% Convertible Subordinated Notes		269,822		269,822					269,822
Conversion of 4.5% Convertible Subordinated Notes, Shares			24,229,781
Conversion of Limited Vote Common Stock to common stock	(11,790)		11,790
Exchange of Limited Vote Common Stock for common stock	(86,088)		90,394
Restricted stock activity		12,190		16,692		(4,502)			12,190
Restricted stock activity, Shares			568,599
Stock options exercised		5,987		5,987					5,987
Stock options exercised, Shares			699,812
Income tax benefit from long-term incentive plans		2,266		2,266					2,266
Net income							157,565		157,565
Ending Balance at Dec. 31, 2008		2,682,374	2	2,803,836		(32,182)	(86,326)	(2,956)	2,682,374
Ending Balance, Shares at Dec. 31, 2008	662,293		196,928,203
Foreign currency translation adjustment		6,868						6,868	6,868
Acquisitions		242,494		242,494	5				242,499
Acquisitions, Shares			11,468,916
Restricted stock activity		16,319		19,875		(3,556)			16,319
Restricted stock activity, Shares			881,835
Stock options exercised		975		975					975
Stock options exercised, Shares			99,354
Income tax benefit from long-term incentive plans		(1,599)		(1,599)					(1,599)
Loss on foreign currency hedges		(410)						(410)	(410)
Net income		162,162			1,373		162,162		163,535
Ending Balance at Dec. 31, 2009		$3,109,183	$2	$3,065,581	$1,378	($35,738)	$75,836	$3,502	$3,110,561
Ending Balance, Shares at Dec. 31, 2009	662,293		209,378,308

Business and Organization

Business and Organization
	12 Months Ended Dec. 31, 2009 USD / shares
Business and Organization [Abstract]
BUSINESS AND ORGANIZATION	1. BUSINESS AND ORGANIZATION: Quanta Services, Inc. (Quanta) is a leading national provider of specialized contracting services, offering infrastructure solutions to the electric power, natural gas, oil and telecommunications industries. Quanta reports its results under four reportable segments: (1)Electric Power Infrastructure Services, (2)Natural Gas and Pipeline Infrastructure Services, (3)Telecommunications Infrastructure Services and (4)Fiber Optic Licensing. Electric Power Infrastructure Services Segment The Electric Power Infrastructure Services segment provides comprehensive network solutions to customers in the electric power industry. Services performed by the Electric Power Infrastructure Services segment generally include the design, installation, upgrade, repair and maintenance of electric power transmission and distribution networks and substation facilities along with other engineering and technical services. This segment also provides emergency restoration services, including repairing infrastructure damaged by inclement weather, the energized installation, maintenance and upgrade of electric power infrastructure utilizing unique bare hand and hot stick methods and our proprietary robotic arm technologies, and the installation of smart grid technologies on electric power networks. In addition, this segment designs, installs and maintains wind turbine facilities and solar arrays and related switchyards and transmission networks for renewable power generation sources. To a lesser extent, this segment provides services such as the design, installation, maintenance and repair of commercial and industrial wiring, installation of traffic networks and the installation of cable and control systems for light rail lines. Natural Gas and Pipeline Infrastructure Services Segment The Natural Gas and Pipeline Infrastructure Services segment provides comprehensive network solutions to customers involved in the transportation of natural gas, oil and other pipeline products. Services performed by the Natural Gas and Pipeline Infrastructure Services segment generally include the design, installation, repair and maintenance of natural gas and oil transmission and distribution systems, compressor and pump stations and gas gathering systems, as well as related trenching, directional boring and automatic welding services. In addition, this segments services include pipeline protection, pipeline integrity and rehabilitation and fabrication of pipeline support systems and related structures and facilities. This segment also provides emergency restoration services, including repairing natural gas and oil pipeline infrastructure damaged by inclement weather. To a lesser extent, this segment designs, installs and maintains airport fueling systems as well as water and sewer infrastructure. Telecommunications Infrastructure Services Segment The Telecommunications Infrastructure Services segment predominantly provides comprehensive network solutions to customers in the telecommunications and cable television industries. Services performed by the Telecommunications Infrastructure Services segment generally inc

Summary of Significant Accounti

Summary of Significant Accounting Policies
	12 Months Ended Dec. 31, 2009 USD / shares
Summary of Significant Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Principles of Consolidation The consolidated financial statements of Quanta include the accounts of Quanta and its wholly owned subsidiaries, which are also referred to as its operating units. The consolidated financial statements also include the accounts of certain of Quantas investments in joint ventures, which are either consolidated or partially consolidated, as discussed in following summary of significant accounting policies. All significant intercompany accounts and transactions have been eliminated in consolidation. Unless the context requires otherwise, references to Quanta include Quanta and its consolidated subsidiaries. Use of Estimates and Assumptions The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires the use of estimates and assumptions by management in determining the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities known to exist as of the date the financial statements are published and the reported amount of revenues and expenses recognized during the periods presented. Quanta reviews all significant estimates affecting its consolidated financial statements on a recurring basis and records the effect of any necessary adjustments prior to their publication. Judgments and estimates are based on Quantas beliefs and assumptions derived from information available at the time such judgments and estimates are made. Uncertainties with respect to such estimates and assumptions are inherent in the preparation of financial statements. Estimates are primarily used in Quantas assessment of the allowance for doubtful accounts, valuation of inventory, useful lives of assets, fair value assumptions in analyzing goodwill, other intangibles and long-lived asset impairments, valuation of derivative contracts, purchase price allocations, liabilities for self-insured claims, convertible debt, revenue recognition for construction contracts and fiber optic licensing, share-based compensation, operating results of reportable segments, provision for income taxes and calculation of uncertain tax positions. Reclassifications Certain reclassifications have been made in prior years financial statements to conform to classifications used in the current year. Revision of Previously Issued Financial Statements During the third quarter of 2009, Quanta revised its December31, 2008 balance sheet for the correction of certain errors identified in its deferred tax asset and liability accounts during the years 2000 through 2004. These items were identified in connection with Quantas 2009 analysis of its tax basis balance sheet, whereby Quanta determined that certain deferred tax asset and liability accounts related primarily to goodwill impairments and certain bad debt expense transactions were misstated. The cumulative impact of these items from the period January1, 2005 through December31, 2008 was an understatement of deferred tax assets, an overstatement of deferred tax liabilities, an overstatement of accumulated deficit and an understate

Changes in Accounting Principle

Changes in Accounting Principles and New Accounting Pronouncements
	12 Months Ended Dec. 31, 2009 USD / shares
Changes in Accounting Principles and New Accounting Pronouncements [Abstract]
CHANGES IN ACCOUNTING PRINCIPLES AND NEW ACCOUNTING PRONOUNCEMENTS	3.CHANGES IN ACCOUNTING PRINCIPLES AND NEW ACCOUNTING PRONOUNCEMENTS: New Accounting Pronouncements Adoption of New Accounting Pronouncements.On January1, 2009, Quanta adopted FSP APB 14-1 (ASC470-20), which requires issuers of certain convertible debt instruments to separately account for the liability and equity components in a manner that adjusts the recorded value of the convertible debt to reflect the entitys non-convertible debt borrowing rate and interest cost at the time of issuance. The value of the debt instrument is adjusted through a discount to the face value of the debt, which is amortized as non-cash interest expense over the expected life of the debt, with an offsetting adjustment to equity to separately recognize the value of the debt instruments conversion feature. This guidance has been applied retrospectively to all periods presented. Accordingly, Quanta recorded a cumulative effect of the change in accounting principle to accumulated deficit as of January 1, 2007 of approximately $29.6million. Also included in accumulated deficit is the impact from non-cash interest expense recorded in the amounts of approximately $18.3million ($11.8million after tax effect) and $14.9million ($9.6million after tax effect) for the years ended December31, 2007 and 2008. In addition, Quanta recorded non-cash interest expense during 2009 and will continue doing so until Quantas 3.75% convertible subordinated notes are redeemable at the holders option in April 2013. Approximately $4.3million ($2.8million after tax effect) of non-cash interest expense was recorded in 2009. See the tables below for the impact of the adoption of FSP APB14-1 (ASC 470-20) as of December31, 2008 and for the years ended December31, 2007 and 2008. Also on January1, 2009, Quanta adopted FSP EITF03-6-1 (ASC 260). FSP EITF03-6-1 (ASC 260)states that unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating securities and should be included in the computation of both basic and diluted earnings per share. All prior period earnings per share data presented have been adjusted retrospectively to conform to the provisions of FSP EITF03-6-1 (ASC 260). All of Quantas restricted stock grants have non-forfeitable rights to dividends and are considered participating securities under FSP EITF03-6-1 (ASC 260). Prior to the retrospective application of FSP EITF03-6-1 (ASC 260)on January1, 2009, unvested restricted stock grants were included in the calculation of weighted average dilutive shares outstanding using the treasury stock method. Under this previous method, unvested restricted common shares were not included in the calculation of weighted average basic shares outstanding but were included in the calculation of weighted average diluted shares outstanding to the extent the grant price was less than the average share price for the respective period. The impact of the retrospective application of FSP EITF03-6-1 (ASC 260)on earnings per share for prior periods is immaterial. Additionally, the adoption of FSP EITF03-6-1 (ASC 260)had no material impact on basic and dilut

Acquisitions

Acquisitions
	12 Months Ended Dec. 31, 2009 USD / shares
Acquisitions [Abstract]
ACQUISITIONS	4. ACQUISITIONS: 2009 Acquisitions On October1, 2009, Quanta acquired Price Gregory in exchange for the issuance of approximately 10.9million shares of Quanta common stock valued at approximately $231.8million on the date of closing and the payment of approximately $95.8million in cash. In connection with the acquisition, $0.5million in cash and approximately 1.5million shares of Quanta common stock, valued at approximately $32.5million, were placed into an escrow account, which will be maintained for a period of up to eighteen months for the settlement of any claims asserted by Quanta against the former stockholders of Price Gregory. Price Gregory provides natural gas and oil transmission pipeline infrastructure services in North America and expands Quantas service capabilities in this market. Price Gregorys results of operations have been included in Quantas consolidated results of operations since October1, 2009. Also in 2009, Quanta completed three other acquisitions of specialty contractors with operations in the electric power, natural gas and telecommunications industries for an aggregate purchase price of approximately $36.0million, consisting of a total of approximately $25.3million in cash and approximately 0.5million shares of Quanta common stock valued in the aggregate at approximately $10.7million as of the dates of acquisition. These acquisitions enhance Quantas electric power, natural gas and pipeline and telecommunications capabilities throughout the various regions of the United States and Western Canada. 2008 Acquisitions In 2008, Quanta acquired a telecommunications infrastructure services construction company, a helicopter-assisted electric transmission line installation, maintenance and repair services company and two affiliated professional telecommunications engineering companies in three separate transactions for an aggregate purchase price of approximately $54.1million, consisting of a total of approximately $34.6million in cash and approximately 1.0million shares of Quanta common stock valued in the aggregate at approximately $19.5million as of the dates of acquisitions. The acquisitions allow Quanta to further expand its telecommunications infrastructure services capabilities in the southwestern and southeastern United States and to augment its existing electric power infrastructure services. The following table summarizes the consideration paid for the 2008 and 2009 acquisitions and the amounts of the assets acquired and liabilities assumed recognized at the acquisition dates. It also summarizes the allocation of the purchase price related to the 2008 and 2009 acquisitions. These allocations are based on the significant use of estimates and on information that was available to management at the time these consolidated financial statements were prepared (in thousands). 2008 Other 2009 Price Acquisitions Acquisitions Gregory Consideration: Value of Quanta common stock issued $ 19,480 $ 10,677 $ 231,817 Cash paid 34,584

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets
	12 Months Ended Dec. 31, 2009 USD / shares
Goodwill and Other Intangible Assets [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	5. GOODWILL AND OTHER INTANGIBLE ASSETS: A summary of changes in Quantas goodwill is as follows (in thousands): Natural Gas and Electric Power Pipeline Telecommunications Division Division Division Total Balance at December31, 2007: Goodwill $ 638,659 $ 285,175 $ 494,528 $ 1,418,362 Accumulated impairment (63,264 ) (63,264 ) 638,659 285,175 431,264 1,355,098 Goodwill acquired during 2008 2,097 22,536 24,633 Purchase price adjustments related to prior periods 2,187 (15,469 ) (3,349 ) (16,631 ) Balance at December31, 2008: Goodwill 642,943 269,706 513,715 1,426,364 Accumulated impairment (63,264 ) (63,264 ) 642,943 269,706 450,451 1,363,100 Goodwill acquired during 2009 8,602 68,528 9,240 86,370 Foreign currency translation related to Canadian goodwill 270 270 Purchase price adjustments related to acquisitions related to prior periods (296 ) 114 (182 ) Balance at December31, 2009: Goodwill 651,815 337,938 523,069 1,512,822 Accumulated impairment (63,264 ) (63,264 ) $ 651,815 $ 337,938 $ 459,805 $ 1,449,558 As described in Note2, Quantas operating units are organized into one of Quantas three internal divisions and accordingly, Quantas goodwill associated with each of its operating units has been aggregated on a divisional basis and reported in the table above. These divisions are closely aligned with Quantas reportable segments based on the predominant type of work performed by the operating units within the divisions. During the years ended December31, 2008 and 2009, Quanta recorded approximately $9.7million and $83.1million in other intangible assets associated with acquisitions. Additionally, in May 2008, Quanta acquired the rights to certain developed technology, along with pending and issued patent protections to this technology, for approximately $14.6million. This developed technology enhances Quantas energized services capabilities and is being amortized on a straight-line basis over an estimated economic life of approximately 13years. The acquired technology is included in patented rights and deve

Discontinued Operation

Discontinued Operation
	12 Months Ended Dec. 31, 2009 USD / shares
Discontinued Operation [Abstract]
DISCONTINUED OPERATION	6. DISCONTINUED OPERATION: On August31, 2007, Quanta sold the operating assets associated with the business of EPA, a Quanta subsidiary, for approximately $6.0million in cash. Quanta has presented EPAs results of operations for 2007 as a discontinued operation in the accompanying consolidated statements of operations. Quanta does not allocate corporate debt or interest expense to discontinued operations. As a result of the sale, a pre-tax gain of approximately $3.7million was recorded in the year ended December31, 2007 and included as income from discontinued operation in the consolidated statement of operations in such period. The amounts of revenues and pre-tax income (including the pre-tax gain of $3.7million in the year ended December31, 2007)related to EPA and included in income from discontinued operation are as follows (in thousands): Year Ended December31, 2007 2008 2009 Revenues $ 14,695 Income before income tax provision $ 4,182 The assets, liabilities and cash flows associated with EPA have historically been immaterial to Quantas balance sheet and cash flows.

Per Share Information

Per Share Information
	12 Months Ended Dec. 31, 2009 USD / shares
Per Share Information [Abstract]
PER SHARE INFORMATION	7. PER SHARE INFORMATION: Basic earnings per share is computed using the weighted average number of common shares outstanding during the period, and diluted earnings per share is computed using the weighted average number of common shares outstanding during the period adjusted for all potentially dilutive common stock equivalents, except in cases where the effect of the common stock equivalent would be antidilutive. The amounts used to compute the basic and diluted earnings per share for the years ended 2007, 2008 and 2009 are illustrated below (in thousands): Year Ended December31, 2007 2008 2009 NET INCOME: Income from continuing operations $ 121,865 $ 157,565 $ 163,535 Discontinued operation: Income from discontinued operation (net of income tax expense of $1,345, none and none) 2,837 Net income 124,702 157,565 163,535 Less: Net income attributable to noncontrolling interest 1,373 Net income attributable to common stock 124,702 157,565 162,162 Effect of convertible subordinated notes under the if-converted method interest expense addback, net of taxes 17,339 13,612 Net income attributable to common stock for diluted earnings per share $ 142,041 $ 171,177 $ 162,162 WEIGHTED AVERAGE SHARES: Weighted average shares outstanding for basic earnings per share 136,894 178,033 200,733 Effect of dilutive stock options 390 342 192 Effect of shares in escrow 386 Effect of convertible subordinated notes under the if-converted method weighted convertible shares issuable 24,236 18,600 Weighted average shares outstanding for diluted earnings per share 161,520 196,975 201,311 For the years ended December31, 2007, 2008 and 2009, stock options of approximately 0.1million, 0.1million and 0.1million shares, respectively, were excluded from the computation of diluted earnings per share because the grant prices of these common stock equivalents were greater than the average market price of Quantas common stock. For the years ended December31, 2007, 2008 and 2009, the effect of assuming conversion of Quantas 3.75% convertible subordinated notes would have been antidilutive and therefore the shares issuable upon conversion were excluded from the calculation of diluted earnings per share. Additionally, for the year ended December31, 2007, the effect of assuming conversion of Quantas 4.0% convertible subordinated notes would have been antidilutive and therefore the shares issuable upon conversion were

Detail of Certain Balance Sheet

Detail of Certain Balance Sheet Accounts
	12 Months Ended Dec. 31, 2009 USD / shares
Detail of Certain Balance Sheet Accounts [Abstract]
DETAIL OF CERTAIN BALANCE SHEET ACCOUNTS	8. DETAIL OF CERTAIN BALANCE SHEET ACCOUNTS: Activity in Quantas current and long-term allowance for doubtful accounts consists of the following (in thousands): December31, 2008 2009 Balance at beginning of year $ 47,573 $ 8,802 Charged to expense 7,257 2,690 Deductions for uncollectible receivables written off, net of recoveries (46,028 ) (3,373 ) Balance at end of year $ 8,802 $ 8,119 Contracts in progress are as follows (in thousands): December31, 2008 2009 Costs incurred on contracts in progress $ 1,363,821 $ 2,228,098 Estimated earnings, net of estimated losses 265,929 538,668 1,629,750 2,766,766 Less Billings to date (1,625,761 ) (2,775,755 ) $ 3,989 $ (8,989 ) Costs and estimated earnings in excess of billings on uncompleted contracts $ 54,379 $ 61,239 Less Billings in excess of costs and estimated earnings on uncompleted contracts (50,390 ) (70,228 ) $ 3,989 $ (8,989 ) Property and equipment consists of the following (in thousands): Estimated Useful December31, Lives in Years 2008 2009 Land $ 9,628 $ 15,498 Buildings and leasehold improvements 5-30 30,497 36,214 Operating equipment and vehicles 5-25 648,162 820,024 Fiber optic and related assets 5-20 179,058 273,980 Office equipment, furniture and fixtures 3-10 47,216 53,322 Construction work in progress 50,965 39,113 965,526 1,238,151 Less Accumulated depreciation and amortization (330,070 ) (383,714 ) Property and equipment, net $ 635,456 $ 854,437 Accounts payable and accrued expenses consists of the following (in thousands): December31, 2008 2009 Accounts payable, trade $ 179,594 $ 173,301 Accrued compensation and related expenses 87,511 89,747 Accrued insurance 56,270 65,671 Accrued loss on contracts 20,708 1,997 Deferred revenues 20,425 17,446 Accrued interest and fees 1,051 1,026 Federal and state taxes payable, including contingencies 10,633 38,993 Other accrued expenses 24,061 33,853 $ 4

Debt Obligations

Debt Obligations
	12 Months Ended Dec. 31, 2009 USD / shares
Debt Obligations [Abstract]
DEBT OBLIGATIONS	9. DEBT OBLIGATIONS: Quantas debt obligations consist of the following (in thousands): December31, 2008 2009 3.75%Notes $ 143,750 $ 143,750 Notes payable to various financial institutions, interest ranging from 0.0% to 8.0%, secured by certain equipment and other assets 1,155 3,426 144,905 147,176 Less Current maturities (1,155 ) (3,426 ) Total long-term debt obligations $ 143,750 $ 143,750 Credit Facility Quanta has a credit facility with various lenders that provides for a $475.0million senior secured revolving credit facility maturing on September19, 2012. Subject to the conditions specified in the credit facility, borrowings under the credit facility are to be used for working capital, capital expenditures and other general corporate purposes. The entire unused portion of the credit facility is available for the issuance of letters of credit. As of December31, 2009, Quanta had approximately $188.3million of letters of credit issued under the credit facility and no outstanding revolving loans. The remaining $286.7million was available for revolving loans or issuing new letters of credit. Amounts borrowed under the credit facility bear interest, at Quantas option, at a rate equal to either (a)the Eurodollar Rate (as defined in the credit facility) plus 0.875% to 1.75%, as determined by the ratio of Quantas total funded debt to consolidated EBITDA (as defined in the credit facility), or (b)the base rate (as described below) plus 0.00% to 0.75%, as determined by the ratio of Quantas total funded debt to consolidated EBITDA. Letters of credit issued under the credit facility are subject to a letter of credit fee of 0.875% to 1.75%, based on the ratio of Quantas total funded debt to consolidated EBITDA. Quanta is also subject to a commitment fee of 0.15% to 0.35%, based on the ratio of its total funded debt to consolidated EBITDA, on any unused availability under the credit facility. The base rate equals the higher of (i)the Federal Funds Rate (as defined in the credit facility) plus 1/2 of 1% or (ii)the banks prime rate. The credit facility contains certain covenants, including covenants with respect to maximum funded debt to consolidated EBITDA, maximum senior debt to consolidated EBITDA and minimum interest coverage, in each case as specified in the credit facility. For purposes of calculating the maximum funded debt to consolidated EBITDA ratio and the maximum senior debt to consolidated EBITDA ratio, Quantas maximum funded debt and maximum senior debt are reduced by all cash and cash equivalents (as defined in the credit facility) held by Quanta in excess of $25.0million. As of December31, 2009, Quanta was in compliance with all of its covenants. The credit facility limits certain acquisitions, mergers and consolidations, capital expenditures, asset sales and prepayments of indebtedness and, subject to certain exceptions, prohibits liens on material assets. The credit facility

Income Taxes

Income Taxes
	12 Months Ended Dec. 31, 2009 USD / shares
Income Taxes [Abstract]
INCOME TAXES	10. INCOME TAXES: The components of the provision for income taxes are as follows (in thousands): Year Ended December31, 2007 2008 2009 Federal Current $ 24,910 $ 87,462 $ 34,763 Deferred (557 ) 1,794 26,240 State Current 501 15,571 6,664 Deferred 323 871 865 Foreign Current 2,437 4,084 1,857 Deferred 70 (77 ) (194 ) $ 27,684 $ 109,705 $ 70,195 The actual income tax provision differs from the income tax provision computed by applying the U.S.federal statutory corporate rate to the income before provision for income taxes as follows (in thousands): Year Ended December31, 2007 2008 2009 Provision at the statutory rate $ 52,342 $ 93,545 $ 81,806 Increases (decreases) resulting from State and foreign taxes (1,047 ) 10,774 5,049 Contingency reserves, net (23,113 ) 4,070 (15,810 ) Tax-exempt interest income (586 ) Production activity deduction (1,729 ) (3,023 ) (5,007 ) Non-deductible expenses 1,817 4,339 4,157 $ 27,684 $ 109,705 $ 70,195 As discussed below, the provisions for income taxes for the years ended 2007 and 2009 are lower than the provision at the statutory rate primarily due to decreases in reserves for uncertain tax provisions. Deferred income taxes result from temporary differences in the recognition of income and expenses between financial reporting purposes and tax purposes. The tax effects of these temporary differences, representing deferred tax assets and liabilities, result principally from the following (in thousands): December31, 2008 2009 Deferred income tax liabilities Property and equipment $ (99,595 ) $ (142,517 ) Goodwill (3,041 ) (17,923 ) Other Intangibles (40,560 ) (55,576 ) Book/tax accounting method difference (23,435 ) (24,620 ) Total deferred income tax liabilities (166,631 ) (240,636 ) Deferred income tax assets Allowance for doubtful accounts and other reserves 14,600 6,867 Accrued expenses 71,797 74,526 Net operating loss carryforwards 10,372 10,613 Inventory and other 31,26

Equity

Equity
	12 Months Ended Dec. 31, 2009 USD / shares
Equity [Abstract]
EQUITY	11. EQUITY: Stockholder Rights Plan Quanta has a stockholder rights plan pursuant to which one right to acquire SeriesD Junior Preferred Stock, as summarized below, has been issued and attached to each outstanding share of common stock. Until a distribution date occurs, the rights can be transferred only with the common stock. On the occurrence of a distribution date, the rights will separate from the common stock and become exercisable as described below. A distribution date will occur upon the earlier of: the tenth day after a public announcement that a person or group of affiliated or associated persons other than Quanta and certain exempt persons (an acquiring person) has acquired beneficial ownership of 15% or more of the total voting rights of the then outstanding shares of Quantas common stock;or the tenth business day following the commencement of a tender or exchange offer that would result in such person or group becoming an acquiring person. Following the distribution date, holders of rights will be entitled to purchase from Quanta one one-thousandth (1/1000th) of a share of SeriesD Junior Preferred Stock at a purchase price of $153.33, subject to adjustment. In the event that any person or group becomes an acquiring person, proper provision will be made so that each holder of a right, other than rights beneficially owned by the acquiring person, will thereafter have the right to receive upon payment of the purchase price, that number of shares of common stock having a market value equal to the result obtained by (A)multiplying the then current purchase price by the number of one one-thousandths of a share of SeriesD Junior Preferred Stock for which the right is then exercisable, and dividing that product by (B)50% of the current per share market price of shares of Quanta common stock on the date of such occurrence. If, following the date of a public announcement that an acquiring person has become such, (1)Quanta is acquired in a merger or other business combination transaction and Quanta is not the surviving corporation, (2)any person consolidates or merges with Quanta and all or part of the common stock is converted or exchanged for securities, cash or property of any other person, or (3)50% or more of Quantas assets or earning power is sold or transferred, then the rights will flip-over. At that time, each right will entitle its holder to purchase, for the purchase price, a number of shares of common stock of the surviving entity in any such merger, consolidation or other business combination or the purchaser in any such sale or transfer with a market value equal to the result obtained by (X)multiplying the then current purchase price by the number of one one-thousandths of a share of SeriesD Junior Preferred Stock for which the right is then exercisable, and dividing that product by (Y)50% of the current per share market price of the shares of common stock of the surviving entity on the date of consummation of such consolidation, merger, sale or transfer. The rights expire on March8, 2010. A holder of a right will not have any rights as a stockholder of Qua

Long-Term Incentive Plans

Long-Term Incentive Plans
	12 Months Ended Dec. 31, 2009 USD / shares
Long-Term Incentive Plans [Abstarct]
LONG-TERM INCENTIVE PLANS	12. LONG-TERM INCENTIVE PLANS: Stock Incentive Plans Pursuant to the Quanta Services, Inc. 2007 Stock Incentive Plan (the 2007 Plan), which was adopted on May24, 2007, Quanta may award restricted common stock, incentive stock options and non-qualified stock options. The purpose of the 2007 Plan is to provide directors, key employees, officers and certain consultants and advisors with additional performance incentives by increasing their proprietary interest in Quanta. Prior to the adoption of the 2007 Plan, Quanta had issued awards of restricted common stock and stock options under its 2001 Stock Incentive Plan (as amended and restated March13, 2003) (the 2001 Plan), which was terminated effective May24, 2007, except that outstanding awards will continue to be governed by the terms of the 2001 Plan. In connection with the acquisition of InfraSource on August30, 2007, Quanta assumed InfraSources 2003 Omnibus Stock Incentive Plan and 2004 Omnibus Stock Incentive Plan, in each case as amended (the InfraSource Plans). The InfraSource Plans were terminated in connection with the acquisition, and no further awards will be made under these plans, although the terms of these plans will govern outstanding awards. The 2007 Plan, the 2001 Plan and the InfraSource Plans are referred to as the Plans. The 2007 Plan, which is the only plan sponsored by Quanta pursuant to which future awards may be made, provides for the award of incentive stock options (ISOs) as defined in Section422 of the Internal Revenue Code of 1986, as amended (the Code), nonqualified stock options and restricted stock (collectively, the Awards). The aggregate number of shares of common stock with respect to which options or restricted stock may be awarded may not exceed 4,000,000shares of common stock. The 2007 Plan is administered by the Compensation Committee of the Board of Directors. The Compensation Committee has, subject to applicable regulation and the terms of the 2007 Plan, the authority to grant Awards under the 2007 Plan, to construe and interpret the 2007 Plan and to make all other determinations and take any and all actions necessary or advisable for the administration of the 2007 Plan, provided that the Board, or authorized committee of the Board, may delegate to a committee of the Board designated as the Equity Grant Committee, consisting of one or more directors, the authority to grant limited Awards to eligible persons who are not executive officers or non-employee directors. Specifically, the Equity Grant Committee has the authority to award stock options and restricted stock, provided (i)the aggregate number of shares of common stock subject to stock options and/or shares of restricted stock awarded by the Equity Grant Committee in any calendar quarter does not exceed 100,000shares (or 20,000shares in any calendar quarter with respect to any individual) and (ii)the aggregate value of restricted stock awarded by the Equity Grant Committee in any calendar quarter does not exceed $250,000 (or $25,000 with respect to any individual), in each case, determined based on the fair market value of the common stock on the date the restricted stock i

Employee Benefit Plans

Employee Benefit Plans
	12 Months Ended Dec. 31, 2009 USD / shares
Employee Benefit Plans [Abstarct]
EMPLOYEE BENEFIT PLANS	13. EMPLOYEE BENEFIT PLANS: Unions Multi-Employer Pension Plans The Employee Retirement Income Security Act of 1974, as amended by the Multi-Employer Pension Plan Amendments Act of 1980, imposes certain liabilities upon employers who are contributors to a multi-employer plan in the event of the employers withdrawal from, or upon termination of, such plan. None of Quantas operating units have any current plans to withdraw from these plans. Because no Quanta operating unit is currently contemplating a withdrawal from any plan, it is not possible to ascertain the net assets and actuarial present value of the plans unfunded vested benefits allocable to any Quanta operating unit, or the amounts, if any, for which any Quanta operating unit may be contingently liable, if such a withdrawal from a plan were to occur in the future. In addition, the Pension Protection Act of 2006 added new funding rules generally applicable to plan years beginning after 2007 for multi-employer plans that are classified as endangered, seriously endangered, or critical status. For a plan in critical status, additional required contributions and benefit reductions apply. Quanta has been notified that two plans to which a Quanta operating unit contributes are in critical status. One of the plans requires additional contributions in the form of a surcharge on future benefit contributions required for future work performed by union employees covered by this plan. No additional contributions are required for the other plan. Quanta is not aware of any other plans to which any Quanta operating unit contributes that is in critical status. Contributions to all union multi-employer pension plans by Quanta were approximately $69.7million, $76.8million and $84.0million for the years ended December31, 2007, 2008 and 2009, respectively. Quanta 401(k) Plan Quanta has a 401(k) plan pursuant to which employees who are not provided retirement benefits through a collective bargaining agreement may make contributions through a payroll deduction. Quanta makes matching cash contributions of 100% of each employees contribution up to 3% of that employees salary and 50% of each employees contribution between 3% and 6% of such employees salary, up to the maximum amount permitted by law. Prior to joining Quantas 401(k) plan, certain subsidiaries of Quanta provided various defined contribution plans to their employees. Contributions to all non-union defined contribution plans by Quanta were approximately $6.1million, $10.4million and $10.0million for the years ended December31, 2007, 2008 and 2009, respectively.

Related Party Transactions

Related Party Transactions
	12 Months Ended Dec. 31, 2009 USD / shares
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	14. RELATED PARTY TRANSACTIONS: Certain of Quantas operating units have entered into related party lease arrangements for operational facilities, typically with prior owners of certain acquired businesses. These lease agreements generally have terms of up to five years. Related party lease expense for the years ended December31, 2007, 2008 and 2009 was approximately $4.0million, $3.9million and $5.4million, respectively.

Commitments and Contingencies

Commitments and Contingencies
	12 Months Ended Dec. 31, 2009 USD / shares
Commitments and Contingencies [Abstract]
COMMITMENTS AND CONTINGENCIES	15. COMMITMENTS AND CONTINGENCIES: Joint Venture Contingencies As described in Note2, one of Quantas operating units entered into a joint venture with a third party engineering company during the first quarter of 2009 for the purpose of providing infrastructure services under a contract with a large utility customer. Losses incurred by the joint venture are typically shared equally by the joint venture members. However, under the terms of the joint venture agreement, each member of the joint venture has guaranteed all of the obligations of the joint venture under the contract with the customer and therefore can be liable for full performance of the contract to the customer. Quanta is not aware of circumstances that would lead to future claims against it for material amounts in connection with this performance guarantee. In addition, as described in Note2, another of Quantas operating units began operations during the first quarter of 2009 in a joint venture with a third party for the purpose of providing joint engineering and construction services for the design and installation of fuel storage facilities under a contract with a specific customer. Under the joint venture agreement, the losses incurred by the joint venture are typically shared equally by the joint venture partners. However, the joint venture is a general partnership, and as such, the joint venture partners are jointly and severally liable for all of the obligations of the joint venture, including obligations owed to the customer or any other person or entity. Quanta is not aware of circumstances that would lead to future claims against it for material amounts in connection with its joint and several liability. In each of the above joint venture arrangements, each joint venturer has indemnified the other for any liabilities incurred in excess of the liabilities for which the joint venturer is obligated to bear under the respective joint venture agreement. It is possible, however, that Quanta could be required to pay or perform obligations in excess of its share if the other joint venturer failed or refused to pay or perform its share of the obligations. Quanta is not aware of circumstances that would lead to future claims against it for material amounts that would not be indemnified. Leases Quanta leases certain land, buildings and equipment under non-cancelable lease agreements, including related party leases as discussed in Note14. The terms of these agreements vary from lease to lease, including some with renewal options and escalation clauses. The following schedule shows the future minimum lease payments under these leases as of December31, 2009 (in thousands): Operating Leases Year Ending December 31 2010 $ 50,783 2011 34,591 2012 22,691 2013 16,397 2014 7,671 Thereafter 11,225 Total minimum lease payments $ 143,358 Rent expense related to operating leases was approximately $86.7million, $107.2million and $112.2million for the years ended December31, 2007, 2

Segment Information

Segment Information
	12 Months Ended Dec. 31, 2009 USD / shares
Segment Information [Abstract]
SEGMENT INFORMATION	16. SEGMENT INFORMATION: In connection with the acquisition of Price Gregory and its impact on Quantas divisional structure used for internal management purposes, an updated evaluation of Quantas reportable segments was performed during the third quarter of 2009. As a result, Quantas operations are now presented under four reportable segments: (1)Electric Power Infrastructure Services, (2)Natural Gas and Pipeline Infrastructure Services, (3)Telecommunications Infrastructure Services and (4)Fiber Optic Licensing. This structure is generally focused on broad end-user markets for Quantas services. The Electric Power Infrastructure Services segment provides comprehensive network solutions to customers in the electric power industry. Services performed by the Electric Power Infrastructure Services segment generally include the design, installation, upgrade, repair and maintenance of electric power transmission and distribution networks and substation facilities along with other engineering and technical services. This segment also provides emergency restoration services, including repairing infrastructure damaged by inclement weather, the energized installation, maintenance and upgrade of electric power infrastructure utilizing unique bare hand and hot stick methods and our proprietary robotic arm technologies, and the installation of smart grid technologies on electric power networks. In addition, this segment designs, installs and maintains wind turbine facilities and solar arrays and related switchyards and transmission networks for renewable power generation sources. To a lesser extent, this segment provides services such as the design, installation, maintenance and repair of commercial and industrial wiring, installation of traffic networks and the installation of cable and control systems for light rail lines. The Natural Gas and Pipeline Infrastructure Services segment provides comprehensive network solutions to customers involved in the transportation of natural gas, oil and other pipeline products. Services performed by the Natural Gas and Pipeline Infrastructure Services segment generally include the design, installation, repair and maintenance of natural gas and oil transmission and distribution systems, compressor and pump stations and gas gathering systems, as well as related trenching, directional boring and automatic welding services. In addition, this segments services include pipeline protection, pipeline integrity and rehabilitation and fabrication of pipeline support systems and related structures and facilities. This segment also provides emergency restoration services, including repairing natural gas and oil pipeline infrastructure damaged by inclement weather. To a lesser extent, this segment designs, installs and maintains airport fueling systems as well as water and sewer infrastructure. The Telecommunications Infrastructure Services segment predominantly provides comprehensive network solutions to customers in the telecommunications and cable television industries. Services performed by the Telecommunications Infrastructure Services segment generally include the design, installation, re

Quarterly Financial Data

Quarterly Financial Data (Unaudited)
	12 Months Ended Dec. 31, 2009 USD / shares
Quarterly Financial Data (Unaudited) [Abstract]
QUARTERLY FINANCIAL DATA (UNAUDITED)	17. QUARTERLY FINANCIAL DATA (UNAUDITED): The table below sets forth the unaudited consolidated operating results by quarter for the years ended December31, 2008 and 2009 (in thousands, except per share information). For the Three Months Ended March31, June30, September30, December31, 2008: Revenues $ 844,442 $ 960,882 $ 1,053,355 $ 921,534 Gross profit 123,877 158,690 185,566 166,733 Net income 21,471 37,668 51,937 46,489 Net income attributable to common stock 21,471 37,668 51,937 46,489 Basic earnings per share attributable to common stock $ 0.13 $ 0.22 $ 0.30 $ 0.24 Diluted earnings per share attributable to common stock $ 0.13 $ 0.21 $ 0.28 $ 0.24 2009: Revenues $ 738,530 $ 813,379 $ 780,794 $ 985,423 Gross profit 117,131 137,782 147,628 190,947 Net income 21,490 33,644 63,956 44,445 Net income attributable to common stock 21,354 33,427 63,436 43,945 Basic earnings per share attributable to common stock $ 0.11 $ 0.17 $ 0.32 $ 0.21 Diluted earnings per share attributable to common stock $ 0.11 $ 0.17 $ 0.32 $ 0.21 The sum of the individual quarterly earnings per share amounts may not agree with year-to-date earnings per share as each periods computation is based on the weighted average number of shares outstanding during the period.