Quarterly report pursuant to Section 13 or 15(d)

Detail of Certain Accounts

v3.22.1
Detail of Certain Accounts
3 Months Ended
Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Detail of Certain Accounts DETAIL OF CERTAIN ACCOUNTS:
Cash and Cash Equivalents
Amounts related to Quanta’s cash and cash equivalents based on geographic location of the bank accounts were as follows (in thousands):
  March 31, 2022 December 31, 2021
Cash and cash equivalents held in domestic bank accounts $ 211,128  $ 205,781 
Cash and cash equivalents held in foreign bank accounts 27,130  23,316 
Total cash and cash equivalents $ 238,258  $ 229,097 
Quanta considers all highly liquid investments with an original maturity of three months or less at the time of purchase to be cash equivalents, which are carried at fair value. As of March 31, 2022 and December 31, 2021, cash equivalents were $141.4 million and $140.0 million and consisted primarily of money market investments and money market mutual funds and are discussed further in Note 17.
Cash and cash equivalents held by joint ventures, which are either consolidated or proportionately consolidated, are available to support joint venture operations, but Quanta cannot utilize those assets to support its other operations. Quanta generally has no right to cash and cash equivalents held by a joint venture other than participating in distributions, to the extent made, and in the event of dissolution. Cash and cash equivalents held by Quanta’s wholly-owned captive insurance company are generally not available for use in support of its other operations. Amounts related to cash and cash equivalents held by joint ventures and the captive insurance company, which are included in Quanta’s total cash and cash equivalents balances, were as follows (in thousands):
  March 31, 2022 December 31, 2021
Cash and cash equivalents held by domestic joint ventures $ 17,309  $ 21,828 
Cash and cash equivalents held by foreign joint ventures 5,914  3,461 
Total cash and cash equivalents held by joint ventures 23,223  25,289 
Cash and cash equivalents held by captive insurance company 134,758  133,302 
Cash and cash equivalents not held by joint ventures or captive insurance company 80,277  70,506 
Total cash and cash equivalents $ 238,258  $ 229,097 
Accounts Payable and Accrued Expenses
Accounts payable and accrued expenses consisted of the following (in thousands):
  March 31, 2022 December 31, 2021
Accounts payable, trade $ 1,341,088  $ 1,251,118 
Accrued compensation and related expenses 442,264  547,161 
Other accrued expenses 535,037  456,392 
Accounts payable and accrued expenses $ 2,318,389  $ 2,254,671