Goodwill and Other Intangible Assets (Tables)
|
6 Months Ended |
Jun. 30, 2017 |
|---|
| Goodwill and Intangible Assets Disclosure [Abstract] |
|
| Summary of Changes in Quanta's Goodwill |
A summary of changes in Quanta’s goodwill is as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Electric Power Infrastructure Services
Division
|
|
Oil and Gas Infrastructure Services
Division
|
|
Total |
Balance at December 31, 2016: |
|
|
|
|
|
Goodwill |
$ |
1,253,979 |
|
|
$ |
388,923 |
|
|
$ |
1,642,902 |
|
Accumulated impairment |
— |
|
|
(39,733 |
) |
|
(39,733 |
) |
|
1,253,979 |
|
|
349,190 |
|
|
1,603,169 |
|
|
|
|
|
|
|
Goodwill acquired during 2017 |
1,484 |
|
|
— |
|
|
1,484 |
|
Purchase price allocation adjustments |
(619 |
) |
|
(659 |
) |
|
(1,278 |
) |
Foreign currency translation adjustments |
7,892 |
|
|
5,050 |
|
|
12,942 |
|
|
|
|
|
|
|
Balance at June 30, 2017: |
|
|
|
|
|
Goodwill |
1,262,736 |
|
|
394,186 |
|
|
1,656,922 |
|
Accumulated impairment |
— |
|
|
(40,605 |
) |
|
(40,605 |
) |
|
$ |
1,262,736 |
|
|
$ |
353,581 |
|
|
$ |
1,616,317 |
|
|
| Other Intangible Assets |
Quanta’s intangible assets subject to amortization and the remaining weighted average amortization periods related to such assets were as follows (in thousands except for weighted average amortization periods, which are in years):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of |
|
As of |
|
As of |
|
June 30, 2017 |
|
December 31, 2016 |
|
June 30, 2017 |
|
Intangible
Assets
|
|
Accumulated
Amortization
|
|
Intangible
Assets, Net
|
|
Intangible
Assets
|
|
Accumulated
Amortization
|
|
Intangible
Assets, Net
|
|
Remaining Weighted Average Amortization Period in Years |
Customer relationships |
$ |
254,989 |
|
|
$ |
(121,292 |
) |
|
$ |
133,697 |
|
|
$ |
244,329 |
|
|
$ |
(110,640 |
) |
|
$ |
133,689 |
|
|
8.2 |
Backlog |
134,967 |
|
|
(134,295 |
) |
|
672 |
|
|
133,592 |
|
|
(132,441 |
) |
|
1,151 |
|
|
0.7 |
Trade names |
55,439 |
|
|
(14,708 |
) |
|
40,731 |
|
|
54,723 |
|
|
(12,855 |
) |
|
41,868 |
|
|
17.3 |
Non-compete agreements |
29,958 |
|
|
(26,470 |
) |
|
3,488 |
|
|
29,212 |
|
|
(25,546 |
) |
|
3,666 |
|
|
2.9 |
Patented rights and developed technology |
22,508 |
|
|
(16,721 |
) |
|
5,787 |
|
|
22,480 |
|
|
(15,831 |
) |
|
6,649 |
|
|
3.7 |
Total intangible assets subject to amortization |
$ |
497,861 |
|
|
$ |
(313,486 |
) |
|
$ |
184,375 |
|
|
$ |
484,336 |
|
|
$ |
(297,313 |
) |
|
$ |
187,023 |
|
|
9.9 |
|
| Estimated Future Aggregate Amortization Expense of Intangible Assets |
The estimated future aggregate amortization expense of intangible assets subject to amortization as of June 30, 2017 is set forth below (in thousands):
|
|
|
|
|
For the Fiscal Year Ending December 31, |
|
|
Remainder of 2017 |
$ |
13,618 |
|
2018 |
26,061 |
|
2019 |
24,015 |
|
2020 |
22,705 |
|
2021 |
20,368 |
|
Thereafter |
77,608 |
|
Total |
$ |
184,375 |
|
|