| Summary of Changes in Quanta's Goodwill |
A summary of
changes in Quanta’s goodwill is as follows (in
thousands):
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|
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|
|
|
|
|
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| |
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Electric
Power
Division
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|
Natural Gas
and
Pipeline
Division
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|
|
Fiber Optic
Licensing
Division |
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|
Total |
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|
Goodwill balance at
December 31, 2012
|
|
$ |
1,065,152 |
|
|
$ |
137,703 |
|
|
$ |
334,790 |
|
|
$ |
1,537,645 |
|
|
Goodwill acquired during
2013
|
|
|
1,052 |
|
|
|
— |
|
|
|
— |
|
|
|
1,052 |
|
|
Foreign currency
translation related to goodwill
|
|
|
(7,490 |
) |
|
|
(1,069 |
) |
|
|
— |
|
|
|
(8,559 |
) |
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|
|
|
|
|
|
|
|
|
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|
|
|
|
Goodwill balance at
June 30, 2013
|
|
$ |
1,058,714 |
|
|
$ |
136,634 |
|
|
$ |
334,790 |
|
|
$ |
1,530,138 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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| Other Intangible Assets |
Activity in
Quanta’s intangible assets consists of the following (in
thousands):
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As of
December 31, 2012
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|
Six Months
Ended
June 30, 2013
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|
As of
June 30, 2013
|
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| |
|
Intangible
Assets
|
|
|
Accumulated
Amortization
|
|
|
Amortization
Expense
|
|
|
Additions |
|
|
Foreign
Currency
Adjustments
|
|
|
Intangible
Assets,
Net
|
|
|
Remaining
Weighted
Average
Amortization
Period in Years |
|
|
Customer
relationships
|
|
$ |
170,465 |
|
|
$ |
(47,777 |
) |
|
$ |
(5,601 |
) |
|
$ |
483 |
|
|
$ |
(1,891 |
) |
|
$ |
115,679 |
|
|
|
10.7 |
|
|
Backlog
|
|
|
126,057 |
|
|
|
(119,068 |
) |
|
|
(1,999 |
) |
|
|
393 |
|
|
|
(23 |
) |
|
|
5,360 |
|
|
|
2.1 |
|
|
Trade names
|
|
|
32,559 |
|
|
|
(3,014 |
) |
|
|
(541 |
) |
|
|
— |
|
|
|
(317 |
) |
|
|
28,687 |
|
|
|
26.7 |
|
|
Non-compete
agreements
|
|
|
27,406 |
|
|
|
(20,706 |
) |
|
|
(1,173 |
) |
|
|
44 |
|
|
|
(199 |
) |
|
|
5,372 |
|
|
|
2.8 |
|
|
Patented rights and
developed technology
|
|
|
20,931 |
|
|
|
(7,517 |
) |
|
|
(1,066 |
) |
|
|
— |
|
|
|
(75 |
) |
|
|
12,273 |
|
|
|
6.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total intangible assets
subject to amortization
|
|
|
377,418 |
|
|
|
(198,082 |
) |
|
|
(10,380 |
) |
|
|
920 |
|
|
|
(2,505 |
) |
|
|
167,371 |
|
|
|
12.6 |
|
|
Other intangible assets not
subject to amortization
|
|
|
4,500 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
4,500 |
|
|
|
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
Total intangible
assets
|
|
$ |
381,918 |
|
|
$ |
(198,082 |
) |
|
$ |
(10,380 |
) |
|
$ |
920 |
|
|
$ |
(2,505 |
) |
|
$ |
171,871 |
|
|
|
N/A |
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|
|
|
|
|
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| Estimated Future Aggregate Amortization Expense of Intangible Assets |
The estimated
future aggregate amortization expense of intangible assets as of
June 30, 2013 is set forth below (in thousands):
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|
|
|
For the Fiscal Year Ending
December 31 —
|
|
|
|
|
|
Remainder of
2013
|
|
$ |
9,992 |
|
|
2014
|
|
|
18,209 |
|
|
2015
|
|
|
15,813 |
|
|
2016
|
|
|
14,970 |
|
|
2017
|
|
|
14,004 |
|
|
Thereafter
|
|
|
94,383 |
|
|
|
|
|
|
|
Total
|
|
$ |
167,371 |
|
|
|
|
|
|
|