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Cover and table of contents

UNITED STATES SECURITIES AND EXC****HANGE COMMISSION

Washington, D.C. 20549


Form 10-K

(Mark One)
☑ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2019

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission file number 001-13831

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Quanta Services, Inc.

(Exact name of registrant as specified in its charter)

Delaware74-2851603
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)

2800 Post Oak Boulevard, Suite 2600

Houston**,** Texas 77056

(Address of principal executive offices, including zip code)

(713) 629-7600

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, $0.00001 par valuePWRNew York Stock Exchange

Securities registered pursuant to Section 12(g) of the Act: None

Indicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☑ No ☐

Indicate by check mark if the Registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act. Yes ☐ No ☑

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☑ No ☐

Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files). Yes ☑ No ☐

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer☑Accelerated filer☐Non-accelerated filer☐Smaller reporting company☐Emerging growth company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☑

As of June 28, 2019 (the last business day of the Registrant’s most recently completed second fiscal quarter), the aggregate market value of the Common Stock of the Registrant held by non-affiliates of the Registrant, based on the last sale price of the Common Stock reported by the New York Stock Exchange on such date, was $5.4 billion.

As of February 25, 2020, the number of outstanding shares of Common Stock of the Registrant was 142,508,874.

DOCUMENTS INCORPORATED BY REFERENCE

Portions of the Registrant’s Definitive Proxy Statement for the 2020 Annual Meeting of Stockholders are incorporated by reference into Part III of this Form 10-K.

QUANTA SERVICES, INC.

ANNUAL REPORT ON FORM 10-K

For the Year Ended December 31, 2019

INDEX

Page
Number
PART I
ITEM 1.Business2
ITEM 1A.Risk Factors8
ITEM 1B.Unresolved Staff Comments26
ITEM 2.Properties26
ITEM 3.Legal Proceedings26
ITEM 4.Mine Safety Disclosures26
PART II
ITEM 5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities27
ITEM 6.Selected Financial Data30
ITEM 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations32
ITEM 7A.Quantitative and Qualitative Disclosures About Market Risk54
ITEM 8.Financial Statements and Supplementary Data55
ITEM 9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure112
ITEM 9A.Controls and Procedures112
ITEM 9B.Other Information113
PART III
ITEM 10.Directors, Executive Officers and Corporate Governance114
ITEM 11.Executive Compensation114
ITEM 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters114
ITEM 13.Certain Relationships and Related Transactions, and Director Independence114
ITEM 14.Principal Accounting Fees and Services114
PART IV
ITEM 15.Exhibits and Financial Statement Schedules115
ITEM 16.Form 10-K Summary120
SIGNATURES121

PART I

Next: Item 1. Business