QUANTA SERVICES INC
For the period ended Mar 31, 2024. Filed May 2, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 2, 2024
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16. Supplemental Cash Flow Information
- SUPPLEMENTAL CASH FLOW INFORMATION:
Reconciliations of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheets that sum to the total of such amounts shown in the statements of cash flows are as follows (in thousands):
| March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash and cash equivalents | $531,056 | $217,115 |
| Restricted cash included in “Prepaid expenses and other current assets” (1) | 1,097 | 6,059 |
| Restricted cash included in “Other assets, net” (1) | 1,228 | 950 |
| Total cash, cash equivalents, and restricted cash reported in the statements of cash flows | $533,381 | $224,124 |
| December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Cash and cash equivalents | $1,290,248 | $428,505 |
| Restricted cash included in “Prepaid expenses and other current assets” (1) | 3,652 | 3,759 |
| Restricted cash included in “Other assets, net” (1) | 1,141 | 950 |
| Total cash, cash equivalents, and restricted cash reported in the statements of cash flows | $1,295,041 | $433,214 |
(1) Restricted cash includes any cash that is legally restricted as to withdrawal or usage.
Supplemental cash flow information related to leases is as follows (in thousands):
| Three Months Ended | ||
|---|---|---|
| March 31, | ||
| 2024 | 2023 | |
| Cash paid for amounts included in the measurement of lease liabilities: | ||
| Operating cash flows used by operating leases | $(25,909) | $(23,627) |
| Operating cash flows used by finance leases | $(722) | $(28) |
| Financing cash flows used by finance leases | $(2,100) | $(422) |
| Lease assets obtained in exchange for lease liabilities: | ||
| Operating leases | $28,255 | $30,876 |
| Finance leases | $362 | $13,277 |
| Lease financing transaction assets obtained in exchange for lease financing transaction liabilities | $25,616 | $2,237 |
Additional supplemental cash flow information is as follows (in thousands):
| Three Months Ended | ||
|---|---|---|
| March 31, | ||
| 2024 | 2023 | |
| Cash (paid) received during the period for: | ||
| Interest paid | $(29,006) | $(17,606) |
| Income taxes paid | $(22,240) | $(17,386) |
| Income tax refunds | $790 | $1,266 |
Accrued capital expenditures were $33.6 million and $20.5 million as of March 31, 2024 and 2023. The impact of these items has been excluded from Quanta’s capital expenditures in the accompanying condensed consolidated statements of cash flows due to their non-cash nature.
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