| 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 |
|
|
|
|
|
|
|
|
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|
| 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):
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|
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|
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|
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| |
|
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 |
|
|
|
|
|
|
|
|
|
|
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|
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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 subject to amortization as of March 31,
2015 is set forth below (in thousands):
|
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|
|
|
|
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 |
|
|
|
|
|
|
|