Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Other Intangible Assets (Tables)

v2.4.0.8
Goodwill and Other Intangible Assets (Tables)
6 Months Ended
Jun. 30, 2014
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
Division
     Oil and Gas
Infrastructure

Division
     Fiber Optic
Licensing
Division
     Total  

Goodwill balance at December 31, 2013

   $ 1,168,084       $ 277,843       $ 334,790       $ 1,780,717   

Goodwill acquired during 2014

     50,788         7,556         —           58,344   

Foreign currency translation related to goodwill

     1,111         2,817         —           3,928   
  

 

 

    

 

 

    

 

 

    

 

 

 

Goodwill balance at June 30, 2014

   $ 1,219,983       $ 288,216       $ 334,790       $ 1,842,989   
  

 

 

    

 

 

    

 

 

    

 

 

 
Other Intangible Assets

Activity in Quanta’s intangible assets consisted of the following (in thousands):

 

    As of
December 31, 2013
    Six Months Ended June 30, 2014     As of
June 30, 2014
 
    Intangible
Assets
    Accumulated
Amortization
    Amortization
Expense
    Additions     Foreign
Currency
Adjustments
    Intangible
Assets, Net
    Remaining
Weighted
Average
Amortization
Period in Years
 

Customer relationships

  $ 199,224      $ (59,417   $ (7,413   $ 13,322      $ 402      $ 146,118        10.4   

Backlog

    136,831        (127,233     (6,134     5,855        65        9,384        0.9   

Trade names

    40,342        (4,228     (957     2,044        172        37,373        22.5   

Non-compete agreements

    28,895        (22,861     (1,315     743        6        5,468        3.1   

Patented rights and developed technology

    21,440        (9,616     (1,041     404        9        11,196        4.9   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

Total intangible assets subject to amortization

    426,732        (223,355     (16,860     22,368        654        209,539        11.7   

Other intangible assets not subject to amortization

    4,500        —          —          —          —          4,500        N/A   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

Total intangible assets

  $ 431,232      $ (223,355   $ (16,860   $ 22,368      $ 654      $ 214,039        N/A   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   
Estimated Future Aggregate Amortization Expense of Intangible Assets

The estimated future aggregate amortization expense of intangible assets as of June 30, 2014 is set forth below (in thousands):

 

For the Fiscal Year Ending December 31,

  

Remainder of 2014

   $ 16,937   

2015

     22,160   

2016

     20,729   

2017

     19,257   

2018

     18,980   

Thereafter

     111,476   
  

 

 

 

Total

   $ 209,539