SEC Comment Letter for QUANTA SERVICES, INC. (PWR) (CIK 0001050915) (PWR) — May 5, 2020
QUANTA SERVICES, INC. (PWR) (CIK 0001050915)
Date: May 5, 2020 · CIK: 0001050915 · Accession: 0000000000-20-003906
AI Filing Summary & Sentiment
File numbers found in text: 001-13831
Letter
United States securities and exchange commission logo May 5, 2020 Derrick A. Jensen Chief Financial Officer Quanta Services, Inc. 2800 Post Oak Boulevard, Suite 2600 Houston, Texas 77056 Re:Quanta Services, Inc. Form 10-K for the year ended December 31, 2019 File No. 001-13831 Dear Mr. Jensen: We have reviewed your filing and have the following comment. In our comment, we may ask you to provide us with information so we may better understand your disclosure. Please respond to this comment within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe our comment applies to your facts and circumstances, please tell us why in your response. After reviewing your response to this comment, we may have additional comments. Form 10-K for the year ended December 31, 2019 Notes to Consolidated Financial Statements 14. Commitments and Contingencies Peru Project Dispute, page 104 1.We note your disclosure that you have a net receivable of approximately $120 million, which includes approximately $87 million that PRONATEL collected through exercise of the advanced payment bonds. In light of the dispute, please tell us how you determined it was appropriate to record a net receivable of $120 million from PRONATEL. Within your response, please reference the authoritative accounting literature management relied upon. We remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff. You may contact William Demarest, Staff Accountant at 202-551-3432 or Jennifer
FirstName LastNameDerrick A. Jensen Comapany NameQuanta Services, Inc. May 5, 2020 Page 2 FirstName LastName Derrick A. Jensen Quanta Services, Inc. May 5, 2020 Page 2 Monick, Assistant Chief Accountant at 202-551-3295 if you have any questions. Sincerely, Division of Corporation Finance Office of Real Estate & Construction
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United States securities and exchange commission logo
May 5, 2020
Derrick A. Jensen
Chief Financial Officer
Quanta Services, Inc.
2800 Post Oak Boulevard, Suite 2600
Houston, Texas 77056
Re:Quanta Services, Inc.
Form 10-K for the year ended December 31, 2019
File No. 001-13831
Dear Mr. Jensen:
We have reviewed your filing and have the following comment. In our comment, we
may ask you to provide us with information so we may better understand your disclosure.
Please respond to this comment within ten business days by providing the requested
information or advise us as soon as possible when you will respond. If you do not believe our
comment applies to your facts and circumstances, please tell us why in your response.
After reviewing your response to this comment, we may have additional comments.
Form 10-K for the year ended December 31, 2019
Notes to Consolidated Financial Statements
14. Commitments and Contingencies
Peru Project Dispute, page 104
1.We note your disclosure that you have a net receivable of approximately $120 million,
which includes approximately $87 million that PRONATEL collected through exercise of
the advanced payment bonds. In light of the dispute, please tell us how you determined it
was appropriate to record a net receivable of $120 million from PRONATEL. Within
your response, please reference the authoritative accounting literature management relied
upon.
We remind you that the company and its management are responsible for the accuracy
and adequacy of their disclosures, notwithstanding any review, comments, action or absence of
action by the staff.
You may contact William Demarest, Staff Accountant at 202-551-3432 or Jennifer
FirstName LastNameDerrick A. Jensen
Comapany NameQuanta Services, Inc.
May 5, 2020 Page 2
FirstName LastName
Derrick A. Jensen
Quanta Services, Inc.
May 5, 2020
Page 2
Monick, Assistant Chief Accountant at 202-551-3295 if you have any questions.
Sincerely,
Division of Corporation Finance
Office of Real Estate & Construction