QUANTA SERVICES INC, QUANTA SERVICES MANAGEMENT ...

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1. BUSINESS AND ORGANIZATION: QUANTA SERVICES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Quanta Services, Inc. (Quanta) is a leading provider of specialized contracting services, offering infrastructure solutions to the electric power, natural gas and oil pipeline and telecommunications industries in North America and in select international markets. Quanta reports its results under four reportable segments: (1) Electric Power Infrastructure Services, (2) Natural Gas and Pipeline Infrastructure Services, (3) Telecommunications Infrastructure Services and (4) Fiber Optic Licensing. Electric Power Infrastructure Services Segment The Electric Power Infrastructure Services segment provides comprehensive network solutions to customers in the electric power industry. Services performed by the Electric Power Infrastructure Services segment generally include the design, installation, upgrade, repair and maintenance of electric power transmission and distribution networks and substation facilities along with other engineering and technical services. This segment also provides emergency restoration services, including the repair of infrastructure damaged by inclement weather, the energized installation, maintenance and upgrade of electric power infrastructure utilizing unique bare hand and hot stick methods and Quanta’s proprietary robotic arm technologies, and the installation of “smart grid” technologies on electric power networks. In addition, this segment designs, installs and maintains renewable energy generation facilities, in particular solar and wind, and related switchyards and transmission networks. To a lesser extent, this segment provides services such as the design, installation, maintenance and repair of commercial and industrial wiring, installation of traffic networks and the installation of cable and control systems for light rail lines. Natural Gas and Pipeline Infrastructure Services Segment The Natural Gas and Pipeline Infrastructure Services segment provides comprehensive network solutions to customers involved in the transportation of natural gas, oil and other pipeline products. Services performed by the Natural Gas and Pipeline Infrastructure Services segment generally include the design, installation, repair and maintenance of natural gas and oil transmission and distribution systems, compressor and pump stations and gas gathering systems, as well as related trenching, directional boring and automatic welding services. In addition, this segment’s services include pipeline protection, integrity testing, rehabilitation and replacement, and fabrication of pipeline support systems and related structures and facilities. To a lesser extent, this segment designs, installs and maintains airport fueling systems as well as water and sewer infrastructure. Telecommunications Infrastructure Services Segment The Telecommunications Infrastructure Services segment provides comprehensive network solutions to customers in the wireline and wireless telecommunications industry and the cable television industry. Services performed by the Telecommunications Infrastructure Services segment generally include the design, installation, repair and maintenance of fiber optic, copper and coaxial cable networks used for video, data and voice transmission, as well as the design, installation and upgrade of wireless communications networks, including towers, switching systems and “backhaul” links from wireless systems to voice, data and video networks. This segment also provides emergency restoration services, including the repair of telecommunications infrastructure damaged by inclement weather. To a lesser extent, services provided under this segment include cable locating, splicing and testing of fiber optic networks and residential installation of fiber optic cabling. 80
QUANTA SERVICES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued) Fiber Optic Licensing Segment The Fiber Optic Licensing segment designs, procures, constructs, maintains and owns fiber optic telecommunications infrastructure in select markets and licenses the right to use these point-to-point fiber optic telecommunications facilities to its customers pursuant to licensing agreements, typically with terms from five to twenty-five years, inclusive of certain renewal options. Under these agreements, customers are provided the right to use a portion of the capacity of a fiber optic network, with the network owned and maintained by Quanta. The Fiber Optic Licensing segment provides services to enterprise, education, carrier, financial services and healthcare customers, as well as other entities with high bandwidth telecommunication needs. The telecommunication services provided through this segment are subject to regulation by the Federal Communications Commission and certain state public utility commissions. Acquisitions During the third and fourth quarters of 2011, Quanta completed five acquisitions of businesses, which included three electric power infrastructure services companies based in Canada, one electric power infrastructure services company based in the United States and one natural gas and pipeline infrastructure services company based in Australia. On October 25, 2010, Quanta acquired Valard Construction LP and certain of its affiliated entities (Valard), an electric power infrastructure services company based in Alberta, Canada. On October 1, 2009, Quanta acquired Price Gregory Services, Incorporated (Price Gregory), a natural gas and pipeline infrastructure services company operating in North America. At various times during 2009, Quanta acquired three other businesses. The financial results of acquisitions have been included in the consolidated financial statements as of their respective acquisition dates. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Principles of Consolidation The consolidated financial statements of Quanta include the accounts of Quanta Services, Inc. and its wholly owned subsidiaries, which are also referred to as its operating units. The consolidated financial statements also include the accounts of certain of Quanta’s investments in joint ventures, which are either consolidated or proportionately consolidated, as discussed in the following summary of significant accounting policies. Investments in affiliated entities in which Quanta owns more than a 20% interest and do not have a controlling interest are accounted for using the equity method. All significant intercompany accounts and transactions have been eliminated in consolidation. Unless the context requires otherwise, references to Quanta include Quanta and its consolidated subsidiaries. Use of Estimates and Assumptions The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires the use of estimates and assumptions by management in determining the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities known to exist as of the date the financial statements are published and the reported amount of revenues and expenses recognized during the periods presented. Quanta reviews all significant estimates affecting its consolidated financial statements on a recurring basis and records the effect of any necessary adjustments prior to their publication. Judgments and estimates are based on Quanta’s beliefs and assumptions derived from information available at the time such judgments and estimates are made. Uncertainties with respect to such estimates and assumptions are inherent in the preparation of financial statements. Estimates are primarily used in Quanta’s assessment of the allowance for doubtful accounts, valuation of inventory, useful lives of assets, fair value assumptions in analyzing goodwill, other 81
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QUANTA SERVICES INC, QUANTA SERVICE
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M&A: Acquirer Firm to Target Firm A
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Company Summary: QUANTA SERVICES IN
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Company Summary: QUANTA COMPUTER IN
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Company Summary: QUANTA SERVICES MA
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Litigation: Court Trends & Analysis
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Litigation: Docket and Opinion Tren
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Litigation: Presiding Judge Trends
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Litigation: Legal Role Trends & Ana
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Litigation: Industry Distribution T
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Litigation: Source Documents (Conti
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Litigation: Company Name Variations
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M&A: Transaction Status Trends & An
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M&A: Financial Advisor Trends & Ana
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M&A: Law Firm Role Trends & Analysi
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M&A: Company Distribution Trends &
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M&A: Recent Company Documents The R
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M&A: Acquirer Firm to Target Firm A
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M&A: Acquirer Attorney to Target Fi
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M&A: M&A Source Documents The M&A S
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M&A: Source Description WestMonitor
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Patent Applications: Filing Office
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Patent Applications: International
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Patent Applications: Assignees The
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Patent Applications: Industry Distr
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Patent Assignments: Volume The Assi
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Patent Assignments: Company Distrib
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Patent Assignments: Assignment Docu
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Granted Patents: Filing Office Loca
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Granted Patents: International Clas
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Granted Patents: Inventor Location
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Granted Patents: Assignors The Gran
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Granted Patents: Granted Patent Doc
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Patent: Company Name Variations The
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Quanta Services, Inc. Profile 2800
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Table of Contents Company Overview
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Earnings Estimates 30 Financial Mar
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Key People Name Title Mr. John R. C
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Industry Information Hoover's Indus
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Title Name Age Salary Bonus Directo
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Biographies John R. Colson, Age 64
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Current Company Compensation Histor
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Salary Bonus Total 2004 : $244,208.
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Bernard Fried, Age 55 Title held si
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Biography Bruce Ranck has been a me
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Unknown - Present : Director Of Dat
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Unknown - Present : Operations Dire
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Company Financials Financial Summar
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Quarterly Income Statement All amou
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Quarterly Balance Sheet All amounts
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Quarterly Cash Flow All amounts in
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Financial Market Data Current Infor
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Competitors List Company Cable Com
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Financial Current Ratio Quick Ratio
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New Constructs rectifies accounting
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Page 4: Free Cash Flow Yield ® Fre
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Stock prices reflect the market’s
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Attractive 2nd Quintile -1% < 3% >
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Values in millions except per share
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Page 12: New Constructs Profile ®
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Quanta Services 2011 Annual Report
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A skilled and highly trained workfo
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Cleaner Lines The growing demand fo
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Harnessing energy from renewable so
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Bottom Lines The recession and regu
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The American Recovery and Reinvestm
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James F. O’Neil, III President an
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Total Backlog at December 31, $ in
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Quanta Operating Units Allteck Line
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QUANTA SERVICES, INC. ANNUAL REPORT
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We were organized as a corporation
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maintenance of natural gas and oil
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Fiber Optic Licensing segment provi
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assurance, however, that our compet
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Environmental Matters and Climate C
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Audit Committee, Compensation Commi
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Project performance issues, includi
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In addition, our customers may canc
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we have significant operations in C
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Our inability to successfully execu
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The business of our Fiber Optic Lic
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We may incur liabilities or suffer
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Failure to adequately protect criti
Page 191 and 192: Opportunities within the government
Page 193 and 194: PART II ITEM 5. Market for Registra
Page 195 and 196: 500 Index (the S&P 500 Index) and a
Page 197 and 198: (b) The effective tax rates in 2011
Page 199 and 200: Reportable segment information, inc
Page 201 and 202: On October 25, 2010, we acquired Va
Page 203 and 204: liability and auto liability claims
Page 205 and 206: Selling, general and administrative
Page 207 and 208: Segment Results The following table
Page 209 and 210: 2010 compared to 2009 Electric Powe
Page 211 and 212: Sources and Uses of Cash As of Dece
Page 213 and 214: The credit agreement provides for c
Page 215 and 216: From time to time, we guarantee the
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Page 219 and 220: Critical Accounting Policies The di
Page 221 and 222: operating unit level. Each of our o
Page 223 and 224: Estimating future cash flows requir
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Page 229 and 230: Conclusion We are currently seeing
Page 231 and 232: • Adverse economic and financial
Page 233 and 234: ITEM 7A. Quantitative and Qualitati
Page 235 and 236: REPORT OF MANAGEMENT Management’s
Page 237 and 238: REPORT OF INDEPENDENT REGISTERED PU
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Page 287 and 288: of fraud, if any, within the compan
Page 289 and 290: ITEM 13. Certain Relationships and
Page 291 and 292: EXHIBIT INDEX Exhibit No. Descripti
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Exhibit No. Description 10.23 — S
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SIGNATURES Pursuant to the requirem
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Directors JOHN R. COLSON Executive
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Back to previous page document 1 of
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document 2 of 10 Deal snapshot: QUA
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document 3 of 10 Dycom Industries t
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document 4 of 10 Q3 2012 Quanta Ser
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Page 9 of 26 DERRICK JENSEN, CFO, Q
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ALEX RYGIEL, ANALYST, FBR & CO.: Ni
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to get infrastructure in place, and
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Publication date Oct 31, 2012 Year
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Language of publication English Doc
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http://search.proquest.com.ezproxy.
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WiMAX backhaul communications will
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document 8 of 10 Fiberutilities Gro
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http://search.proquest.com.ezproxy.
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