Supplemental Cash Flow Information

3 Months Ended

Mar. 31, 2022

Supplemental Cash Flow Elements [Abstract]

Supplemental Cash Flow Information

SUPPLEMENTAL CASH FLOW INFORMATION:

The net effects of changes in operating assets and liabilities, net of non-cash transactions, on cash flows from operating activities are as follows (in thousands):

	Three Months Ended
	March 31,
	2022		2021
Accounts and notes receivable	$	25,182	$	35,521
Contract assets	(165,549)		(62,278)
Inventories	(9,488)		(435)
Prepaid expenses and other current assets	21,094		9,948
Accounts payable and accrued expenses and other non-current liabilities	(57,903)		(4,780)
Contract liabilities	(2,797)		(29,225)
Other, net	632		(8,200)
Net change in operating assets and liabilities, net of non-cash transactions	$	(188,829)	$	(59,449)

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,
	2022		2021
Cash and cash equivalents (1)	$	238,258	$	200,218
Restricted cash included in “Prepaid expenses and other current assets” (2)	1,628		1,518
Restricted cash included in “Other assets, net” (2)	950		879
Total cash, cash equivalents, and restricted cash reported in the statements of cash flows	$	240,836	$	202,615

	December 31,
	2021		2020
Cash and cash equivalents (1)	$	229,097	$	184,620
Restricted cash included in “Prepaid expenses and other current assets” (2)	1,836		1,275
Restricted cash included in “Other assets, net” (2)	954		913
Total cash, cash equivalents, and restricted cash reported in the statements of cash flows	$	231,887	$	186,808

(1)    Cash and cash equivalents as of March 31, 2022 and March 31, 2021 includes $134.8 million and $131.8 million held by Quanta’s wholly-owned captive insurance company, and cash and cash equivalents as of December 31, 2021 and December 31, 2020 includes $133.3 million and $85.0 million held by Quanta’s wholly-owned captive insurance company. Such amounts are generally not available for use in support of Quanta’s other operations.

(2)    Restricted cash includes any cash that is legally restricted as to withdrawal or usage.

Supplemental cash flow information related to leases and rental purchase options is as follows (in thousands):

	Three Months Ended
	March 31,
	2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	(25,057)	$	(27,610)
Operating cash flows from finance leases	$	(27)	$	(27)
Financing cash flows from finance leases	$	(365)	$	(249)
Lease assets obtained in exchange for lease liabilities:
Operating leases	$	9,106	$	17,927
Finance leases	$	1,134	$	168
Rental purchase option assets obtained in exchange for rental purchase option liabilities	$	23,233	$	303

Additional supplemental cash flow information is as follows (in thousands):

	Three Months Ended
	March 31,
	2022		2021
Cash (paid) received during the period for —
Interest paid	$	(7,470)	$	(4,039)
Income taxes paid	$	(4,832)	$	(4,602)
Income tax refunds	$	2,957	$	6,137

Accrued capital expenditures were $21.4 million and $27.4 million as of March 31, 2022 and 2021. 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.