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Investments in Affiliates and Other Entities
 12 Months Ended
Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]  
Investments in Affiliates and Other Entities INVESTMENTS IN AFFILIATES AND OTHER ENTITIES:
Equity Investments
The following table presents Quanta’s equity investments by type (in thousands):
December 31, 2023December 31, 2022
Equity method investments - integral unconsolidated affiliates
$96,124 $101,251 
Equity method investments - non-integral unconsolidated affiliates28,105 55,833 
Marketable equity securities (1)
— — 
Non-marketable equity securities53,868 54,134 
Total equity investments$178,097 $211,218 
(1) As of December 31, 2022, the fair value of Quanta’s investment in equity securities of Starry Group Holdings, Inc. (Starry) was zero, which was accounted for as an investment in marketable securities and included a loss of $91.5 million. During the year ended December 31, 2023, a plan of reorganization in Starry’s bankruptcy proceeding pursuant to Chapter 11 of the U.S.
Bankruptcy Code, as amended, went into effect and, as a result, the equity securities of Starry held by Quanta were cancelled.
Equity Method Investments
During the three months ended December 31, 2022, Quanta entered into an agreement to sell one of its non-integral equity method investments. The transaction was subject to certain customary closing conditions that were satisfied in early 2023. As a result, a $25.9 million gain was recognized in the fourth quarter of 2022, $10.4 million of which was attributable to non-controlling interests. During the year ended December 31, 2023, Quanta received cash of $58.5 million related to the sale of this investment, $9.8 million of which was distributed to non-controlling interests.
As of December 31, 2023 and 2022, Quanta had receivables of $96.4 million and $96.9 million from its integral unconsolidated affiliates and payables of $24.5 million and $9.3 million to its integral affiliates. Quanta recognizes revenues from services provided to its integral unconsolidated affiliates, primarily for services provided to LUMA at cost. Quanta recognized revenues from such services to its integral unconsolidated affiliates of $215.0 million, $154.7 million and $74.1 million during the years ended December 31, 2023, 2022 and 2021. In addition, during the years ended December 31, 2023, 2022 and 2021, Quanta recognized costs of sales of $201.3 million, $134.5 million and $116.2 million for services provided by other integral unconsolidated affiliates.
Total equity in earnings from integral unconsolidated affiliates was $41.6 million, $52.5 million, and $44.1 million for the years ended December 31, 2023, 2022 and 2021. Total equity in earnings from non-integral unconsolidated affiliates was earnings of $1.3 million, $20.3 million and $2.1 million for the years ended December 31, 2023, 2022 and 2021. As of December 31, 2023, Quanta had $18.7 million of undistributed earnings related to unconsolidated affiliates.
The difference between Quanta’s carrying value and the underlying equity in the net assets of its equity investments is assigned to the assets and liabilities of the investment, giving rise to a basis difference, which was $31.4 million and $37.8 million as of December 31, 2023 and 2022. The amortization of the basis difference included in “Equity in earnings of integral unconsolidated affiliates” in the accompanying consolidated statements of operations for the years ended December 31, 2023, 2022 and 2021, was $6.2 million, $1.9 million and $0.5 million.