| Net Effects of Changes in Operating Assets and Liabilities, Net, on Cash Flows from Operating Activities |
The net effects of changes in operating assets and liabilities, net of non-cash transactions, on cash flows from operating activities are as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
|
|
March 31, |
|
|
|
|
2022 |
|
2021 |
|
|
|
|
| Accounts and notes receivable |
|
$ |
25,182 |
|
|
$ |
35,521 |
|
|
|
|
|
| Contract assets |
|
(165,549) |
|
|
(62,278) |
|
|
|
|
|
| Inventories |
|
(9,488) |
|
|
(435) |
|
|
|
|
|
| Prepaid expenses and other current assets |
|
21,094 |
|
|
9,948 |
|
|
|
|
|
| Accounts payable and accrued expenses and other non-current liabilities |
|
(57,903) |
|
|
(4,780) |
|
|
|
|
|
| Contract liabilities |
|
(2,797) |
|
|
(29,225) |
|
|
|
|
|
| Other, net |
|
632 |
|
|
(8,200) |
|
|
|
|
|
| Net change in operating assets and liabilities, net of non-cash transactions |
|
$ |
(188,829) |
|
|
$ |
(59,449) |
|
|
|
|
|
|
| Reconciliation of Cash, Cash Equivalents, and Restricted Cash and Additional Supplemental Cash Flow Information |
Reconciliations of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheets that sum to the total of such amounts shown in the statements of cash flows are as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31, |
|
|
2022 |
|
2021 |
Cash and cash equivalents (1)
|
|
$ |
238,258 |
|
|
$ |
200,218 |
|
Restricted cash included in “Prepaid expenses and other current assets” (2)
|
|
1,628 |
|
|
1,518 |
|
Restricted cash included in “Other assets, net” (2)
|
|
950 |
|
|
879 |
|
| Total cash, cash equivalents, and restricted cash reported in the statements of cash flows |
|
$ |
240,836 |
|
|
$ |
202,615 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, |
|
|
2021 |
|
2020 |
Cash and cash equivalents (1)
|
|
$ |
229,097 |
|
|
$ |
184,620 |
|
Restricted cash included in “Prepaid expenses and other current assets” (2)
|
|
1,836 |
|
|
1,275 |
|
Restricted cash included in “Other assets, net” (2)
|
|
954 |
|
|
913 |
|
| Total cash, cash equivalents, and restricted cash reported in the statements of cash flows |
|
$ |
231,887 |
|
|
$ |
186,808 |
|
(1) Cash and cash equivalents as of March 31, 2022 and March 31, 2021 includes $134.8 million and $131.8 million held by Quanta’s wholly-owned captive insurance company, and cash and cash equivalents as of December 31, 2021 and December 31, 2020 includes $133.3 million and $85.0 million held by Quanta’s wholly-owned captive insurance company. Such amounts are generally not available for use in support of Quanta’s other operations.
(2) Restricted cash includes any cash that is legally restricted as to withdrawal or usage.
Additional supplemental cash flow information is as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
|
|
March 31, |
|
|
|
|
2022 |
|
2021 |
|
|
|
|
| Cash (paid) received during the period for — |
|
|
|
|
|
|
|
|
| Interest paid |
|
$ |
(7,470) |
|
|
$ |
(4,039) |
|
|
|
|
|
| Income taxes paid |
|
$ |
(4,832) |
|
|
$ |
(4,602) |
|
|
|
|
|
| Income tax refunds |
|
$ |
2,957 |
|
|
$ |
6,137 |
|
|
|
|
|
|
| Supplemental Cash Flow Information Related to Leases |
Supplemental cash flow information related to leases and rental purchase options is as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Three Months Ended |
|
|
|
|
March 31, |
|
|
| |
|
2022 |
|
2021 |
|
|
|
|
| Cash paid for amounts included in the measurement of lease liabilities: |
|
|
|
|
|
|
|
|
| Operating cash flows from operating leases |
|
$ |
(25,057) |
|
|
$ |
(27,610) |
|
|
|
|
|
| Operating cash flows from finance leases |
|
$ |
(27) |
|
|
$ |
(27) |
|
|
|
|
|
| Financing cash flows from finance leases |
|
$ |
(365) |
|
|
$ |
(249) |
|
|
|
|
|
| Lease assets obtained in exchange for lease liabilities: |
|
|
|
|
|
|
|
|
| Operating leases |
|
$ |
9,106 |
|
|
$ |
17,927 |
|
|
|
|
|
| Finance leases |
|
$ |
1,134 |
|
|
$ |
168 |
|
|
|
|
|
| Rental purchase option assets obtained in exchange for rental purchase option liabilities |
|
$ |
23,233 |
|
|
$ |
303 |
|
|
|
|
|
|