Quanta Services, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Acquisitions (Tables)

Acquisitions (Tables)

3 Months Ended

Mar. 31, 2015

Business Acquisition Purchase Price Allocation Assets Acquired and Liabilities Assumed

This allocation requires a significant use of estimates and is based on information that was available to management at the time these consolidated financial statements were prepared (in thousands).


	2015			2014
Consideration:
Value of Quanta common stock and exchangeable shares issued	$	—		$	134,538
Cash paid or payable		36,868			284,312

Fair value of total consideration transferred	$	36,868		$	418,850

Current assets	$	12,600		$	172,298
Property and equipment		15,649			159,186
Other assets		—			3,500
Identifiable intangible assets		9,068			96,302
Current liabilities		(9,819	)		(144,252	)
Deferred tax liabilities, net		(4,052	)		(37,743	)
Other long-term liabilities		(4,909	)		(4,926	)

Total identifiable net assets		18,537			244,365
Goodwill		18,331			174,485

	$	36,868		$	418,850

Estimated Fair Values of Identifiable Intangible Assets and Related Weighted Average Amortization

The following table summarizes the estimated fair values of identifiable intangible assets and the related weighted average amortization periods by type as of the respective acquisition dates for the 2015 acquisitions (in thousands, except for weighted average amortization periods, which are in years).


	Estimated Fair Value at Acquisition Date		Weighted Average Amortization Period at Acquisition Date
Customer relationships	$	6,391		17.2
Backlog		741		0.5
Trade names		1,408		5.0
Non-compete agreements		528		5.0

Total intangible assets subject to amortization acquired in 2015 acquisitions	$	9,068		13.3

Unaudited Supplemental Pro Forma Results of Operations

Future results may vary significantly from the results reflected in the following pro forma financial information because of future events and transactions, as well as other factors (in thousands, except per share amounts):


	Three Months Ended March 31,
	2015		2014
Revenues	$	1,893,115	$	1,951,362
Gross profit	$	253,737	$	288,846
Selling, general and administrative expenses	$	150,732	$	183,265
Amortization of intangible assets	$	8,906	$	11,486
Net income	$	58,132	$	60,482
Net income attributable to common stock	$	53,431	$	56,242

Earnings per share attributable to common stock —basic and diluted	$	0.25	$	0.25