QUANTA SERVICES INC
For the period ended Sep 30, 2024. Filed Oct 31, 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.
Sep 30, 2024 · Filed Oct 31, 2024
PWR$583.14-1.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
(In thousands)
| Nine Months Ended | ||
|---|---|---|
| September 30, | ||
| 2024 | 2023 | |
| Cash Flows from Operating Activities: | ||
| Net income | $616,996 | $537,079 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation | 262,525 | 239,746 |
| Amortization of intangible assets | 267,147 | 213,789 |
| Distributions, net of equity in earnings of unconsolidated affiliates | 6,002 | 24,579 |
| Deferred income tax (benefit) expense | (1,847) | 14,302 |
| Non-cash stock-based compensation | 110,815 | 94,658 |
| Other non-cash adjustments, net | (2,430) | (10,620) |
| Changes in assets and liabilities, net of non-cash transactions: | ||
| Accounts and notes receivable | (399,501) | (666,786) |
| Contract assets | 154,425 | (508,457) |
| Inventories | (50,732) | (3,759) |
| Prepaid expenses and other current assets | 3,091 | (104,956) |
| Accounts payable and accrued expenses and other non-current liabilities | 331,260 | 776,496 |
| Contract liabilities | 77,205 | (38,764) |
| Other assets and liabilities, net | (5,775) | 5,107 |
| Net cash provided by operating activities | 1,369,181 | 572,414 |
| Cash Flows from Investing Activities: | ||
| Capital expenditures | (457,093) | (325,397) |
| Proceeds from sale of and insurance settlements related to property and equipment | 67,230 | 47,983 |
| Cash paid for acquisitions, net of cash, cash equivalents and restricted cash acquired | (1,724,440) | (472,643) |
| Investments in unconsolidated affiliates and other | (72,609) | (6,505) |
| Proceeds from the sale or settlement of certain investments | 29,239 | 42,277 |
| Other, net | 30,525 | (8,039) |
| Net cash used in investing activities | (2,127,148) | (722,324) |
| Cash Flows from Financing Activities: | ||
| Borrowings under credit facility and commercial paper program | 11,905,853 | 14,339,958 |
| Payments under credit facility and commercial paper program | (12,696,895) | (14,136,313) |
| Net proceeds from notes offering | 1,238,741 | — |
| Payments related to tax withholding for share-based compensation | (140,625) | (113,409) |
| Payments of dividends | (40,769) | (36,059) |
| Other, net | (38,878) | (23,126) |
| Net cash provided by financing activities | 227,427 | 31,051 |
| Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash | 4,267 | (4,466) |
| Net decrease in cash, cash equivalents and restricted cash | (526,273) | (123,325) |
| Cash, cash equivalents and restricted cash, beginning of period | 1,295,041 | 433,214 |
| Cash, cash equivalents and restricted cash, end of period | $768,768 | $309,889 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.