Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

Summary of Plan Information Relating to Participation in Multiemployer Pension Plans

The following table summarizes plan information relating to Quanta’s participation in multiemployer defined benefit pension plans, including company contributions for the last three years, the status of the plans under the PPA and whether the plans are subject to a funding improvement or rehabilitation plan or contribution surcharges. The most recent PPA zone status available in 2023 and 2022 relates to the plans’ fiscal year-ends in 2022 and 2021. Forms 5500 were not yet available for the plan years ending in 2023. The PPA zone status is based on information that Quanta received from the respective plans’ administrators, as well as publicly available information on the U.S. Department of Labor website, and is certified by each plan’s actuary. Although multiple factors or tests may result in red zone or yellow zone status, plans in the red zone generally are less than 65 percent funded, plans in the yellow zone generally are less than 80 percent funded, and plans in the green zone generally are at least 80 percent funded. Under the PPA, red zone plans are classified as “critical” status, yellow zone plans are classified as “endangered” status and green zone plans are classified as neither “endangered” nor “critical” status. The “Subject to Financial Improvement/ Rehabilitation Plan” column indicates plans for which a financial improvement plan or a

rehabilitation plan is either pending or has been implemented. The last column lists the expiration dates of Quanta’s collective-bargaining agreements to which the plans are subject. Total contributions to these plans correspond to the number of union employees employed at any given time and the plans in which they participate and vary depending upon the location and number of ongoing projects at a given time and the need for union resources in connection with such projects. Information has been presented separately for individually significant plans, based on PPA funding status classification, and in the aggregate for all other plans.

	Employee Identification Number/ Pension Plan Number	PPA Zone Status		Subject to Financial Improve- ment/ Reha- bilitation Plan	Contributions (in thousands)						Sur-charge Imposed	Expiration Date of Collective Bargaining Agreement
Fund		2023	2022		2023		2022		2021
National Electrical Benefit Fund	53-0181657	Green	Green	No	$	47,126	$	47,390	$	38,195	No	Varies through November 2027
Excavators Union Local 731 Pension Fund	13-1809825	Green	Green	No	11,411		20,733		16,202		No	April 2026
Central Pension Fund of the IUOE & Participating Employers	36-6052390	Green	Green	No	7,396		11,989		11,237		No	Varies through May 2027
Eighth District Electrical Pension Fund	84-6100393	Green	Green	No	6,169		5,119		1,599		No	Varies through September 2026
Laborers Pension Trust Fund for Northern California	94-6277608	Green	Green	No	3,342		4,849		4,479		No	Varies through June 2026
Operating Engineers Local 324 Pension Fund	38-1900637	Red	Red	Yes	3,193		2,951		2,789		No	Varies through April 2026
Pipeline Industry Pension Fund	73-6146433	Green	Green	No	2,733		2,477		5,081		No	Varies through June 2024
Construction Laborers Pension Trust Fund for Southern California	43-6159056	Green	Green	No	2,729		1,355		893		No	June 2026
Locals 302 & 612 of the IUOE - Employers Construction Industry Retirement Fund	91-6028571	Green	Green	No	2,707		1,675		2,084		No	Varies through May 2026
Central Laborers Pension Fund	37-6052379	Yellow	Yellow	Yes	2,342		739		470		No	June 2024
Local 697 I.B.E.W. and Electrical Industry Pension Plan	51-6133048	Green	Green	No	2,227		2,509		2,229		No	May 2025
Pension Trust Fund for Operating Engineers	94-6090764	Yellow	Yellow	No	2,176		1,898		1,755		No	Varies through June 2025
IBEW Local 1249 Pension Plan	15-6035161	Green	Green	No	1,931		4,558		2,667		No	Varies through May 2025
Operating Engineers Pension Trust	95-6032478	Yellow	Yellow	No	1,473		1,360		1,143		Yes	Varies through April 2026
Employer - Teamsters Local Nos 175 & 505 Pension Trust Fund	55-6021850	Red	Red	Yes	1,027		52		151		No	June 2024
Laborers National Pension Fund	75-1280827	Red	Red	Yes	746		667		1,049		Yes	June 2026
Laborers District Council of W PA Pension Fund	25-6135576	Yellow	Yellow	Yes	488		110		1,375		No	June 2026
All other plans - U.S.					38,033		37,723		36,804
All other plans - Canada (1)					12,515		19,245		2,794
Total contributions					$	149,764	$	167,399	$	132,996

(1)    Multiemployer defined benefit pension plans in Canada are not subject to the reporting requirements under the PPA. Accordingly, certain information was not publicly available.

Quanta’s contributions to the following individually significant plans were five percent or more of the total contributions to these plans for the periods indicated based on the Forms 5500 for these plans for the years ended December 31, 2022 and 2021. Forms 5500 were not yet available for these plans for the year ended December 31, 2023.

Pension Fund	Plan Years in which Quanta Contributions Were Five Percent or More of Total Plan Contributions
National Electrical Benefit Fund	2022 and 2021
Excavators Union Local 731 Pension Fund	2022 and 2021
Eighth District Electrical Pension Fund	2022
Pipeline Industry Pension Fund	2022 and 2021
Local 697 I.B.E.W. and Electrical Industry Pension Plan	2022 and 2021
IBEW Local 1249 Pension Plan	2022
Local Union No 9 I.B.E.W and Outside Contractors Pension Fund (1)	2022 and 2021
I.B.E.W. Local 456 Pension Plan (1)	2022 and 2021
Teamster National Pipe Line Pension Plan (1)	2022 and 2021

(1) This plan is included in the “All other plans - U.S.” category in the prior table.

Schedule of Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits by Title of Individual and Type of Deferred Compensation

Changes in the fair market value of Quanta’s COLI assets and deferred compensation liabilities largely offset and are recorded in the accompanying statements of operations as follows (in thousands):

		Year Ended December 31,
Classification	Change in fair market value of	2023		2022		2021
(Loss) gain included in Selling, general and administrative expenses	Deferred compensation liabilities	$	(13,325)	$	13,192	$	(10,428)
Other income (expense), net	COLI assets	$	11,587	$	(13,757)	$	8,566