QUANTA SERVICES, INC.
For the period ended Dec 31, 2025. Filed Feb 19, 2026.
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FY2025 · Filed Feb 19, 2026
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18. Supplemental Cash Flow Information
- SUPPLEMENTAL CASH FLOW INFORMATION:
Restricted cash includes any cash that is legally restricted as to withdrawal or usage. Reconciliations of cash, cash equivalents, and restricted cash reported within the consolidated balance sheets that sum to the total of such amounts shown in the statements of cash flows are as follows (in thousands):
| December 31, | ||||
|---|---|---|---|---|
| 2025 | 2024 | 2023 | 2022 | |
| Cash and cash equivalents | $439,508 | $741,960 | $1,290,248 | $428,505 |
| Restricted cash included in “Prepaid expenses and other current assets” | 1,428 | 2,686 | 3,652 | 3,759 |
| Restricted cash included in “Other assets, net” | 1,887 | 1,364 | 1,141 | 950 |
| Total cash, cash equivalents, and restricted cash reported in the statements of cash flows | $442,823 | $746,010 | $1,295,041 | $433,214 |
Supplemental cash flow information related to leases is as follows (in thousands):
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Cash paid for amounts included in the measurement of lease liabilities: | |||
| Operating cash flows used by operating leases | $(128,410) | $(110,745) | $(95,900) |
| Operating cash flows used by finance leases | $(2,445) | $(2,606) | $(1,463) |
| Financing cash flows used by finance leases | $(11,852) | $(10,583) | $(2,511) |
| Lease assets obtained in exchange for lease liabilities: | |||
| Operating leases | $165,826 | $109,708 | $100,594 |
| Finance leases | $56,560 | $10,397 | $37,299 |
| Lease financing transaction assets obtained in exchange for lease financing transaction liabilities | $51,224 | $69,731 | $26,969 |
Additional supplemental cash flow information related to income taxes paid, net of refunds, is as follows (in thousands):
| Year Ended | |
|---|---|
| Cash paid during the year for income taxes, net of refunds | |
| U.S. Federal | $(232,596) |
| U.S. State and Local | (77,173) |
| Foreign | (37,428) |
| Total cash paid during the year for income taxes (1) | $(347,197) |
(1) Income taxes paid during the year ended December 31, 2025 includes $16.2 million for the purchase of transferable tax credits from third parties. Individual jurisdictions equaling 5% or more of the total income taxes paid (net of refunds) for the year ended December 31, 2025 include $232.6 million paid for U.S. Federal income taxes and $33.0 million paid for Australian income taxes.
| Year Ended December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash (paid) received during the period for: | ||
| Income taxes paid | $(136,755) | $(248,527) |
| Income tax refunds | $5,595 | $6,483 |
Cash paid for interest was as follows (in thousands):
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Interest paid | $(217,358) | $(166,333) | $(175,782) |
Accrued capital expenditures were $26.9 million, $27.3 million and $15.7 million as of December 31, 2025, 2024 and 2023. The impact of these items has been excluded from Quanta’s capital expenditures in the accompanying consolidated statements of cash flows due to their non-cash nature.
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