Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Other Intangible Assets (Tables)

v2.4.1.9
Goodwill and Other Intangible Assets (Tables)
3 Months Ended
Mar. 31, 2015
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, 2014

   $ 1,223,224      $ 373,471      $ 334,790       $ 1,931,485   

Goodwill acquired during 2015

     949        17,382        —           18,331   

Purchase price adjustments

     750        (2,568     —           (1,818

Foreign currency translation adjustment related to goodwill

     (15,076     (10,437     —           (25,513
  

 

 

   

 

 

   

 

 

    

 

 

 

Goodwill balance at March 31, 2015

$ 1,209,847    $ 377,848    $ 334,790    $ 1,922,485   
  

 

 

   

 

 

   

 

 

    

 

 

 
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  
    March 31, 2015     December 31, 2014     March 31, 2015  
    Intangible
Assets
    Accumulated
Amortization
    Intangible
Assets, Net
    Intangible
Assets
    Accumulated
Amortization
    Intangible
Assets, Net
    Remaining
Weighted

Average
Amortization
Period in Years
 

Customer relationships

  $ 255,901      $ (77,968   $ 177,933      $ 257,380      $ (74,289   $ 183,091        10.2   

Backlog

    149,307        (138,615     10,692        151,404        (138,460     12,944        1.2   

Trade names

    49,806        (6,882     42,924        49,664        (6,278     43,386        19.5   

Non-compete agreements

    31,329        (25,391     5,938        31,430        (25,136     6,294        3.4   

Patented rights and developed technology

    22,312        (12,244     10,068        22,073        (11,695     10,378        4.4   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

Total intangible assets subject to amortization

$ 508,655    $ (261,100 $ 247,555    $ 511,951    $ (255,858 $ 256,093      11.0   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

Estimated Future Aggregate Amortization Expense of Intangible Assets

The estimated future aggregate amortization expense of intangible assets subject to amortization as of March 31, 2015 is set forth below (in thousands):

 

For the Fiscal Year Ending December 31,

Remainder of 2015

$ 26,214   

2016

  28,243   

2017

  24,592   

2018

  24,316   

2019

  23,548   

Thereafter

  120,642   
  

 

 

 

Total

$ 247,555