QUANTA SERVICES, INC.PWR

QUANTA SERVICES, INC. New Standards Disclosure

10-KFiled Feb 19, 20262 min read
Recently Adopted Guidance
In December 2023, the FASB issued an update that, among other things, expands disclosures for tax rate reconciliation tables, primarily by requiring disaggregation of income taxes paid by jurisdiction, as well as greater disaggregation within the rate reconciliation. This update is effective for fiscal years beginning after December 15, 2024 and interim periods within fiscal years beginning after December 15, 2025. Quanta adopted this update in its Form 10-K for the year ended December 31, 2025 using the prospective approach.
New Accounting Pronouncements Not Yet Adopted
In December 2025, the FASB issued an update that improves the navigability of the required interim disclosures and clarifies when that guidance is applicable. The amendments also provide additional guidance on what disclosures should be provided in interim reporting periods and add a principle that requires entities to disclose events since the end of the last annual reporting period that have a material impact on the entity. For public business entities, this update is effective for interim reporting periods within annual reporting periods beginning after December 15, 2027. Early adoption and a prospective or retrospective approach are permitted. Quanta is currently assessing the effect of this update.
In September 2025, the FASB issued an update that clarifies the threshold entities apply to begin capitalizing costs related to software. The standard removes all references to the project stages and requires entities to begin capitalizing software costs
when both of the following occur: (1) management, with the relevant authority, implicitly or explicitly authorizes and commits to funding a computer software project and (2) it is probable that the project will be completed and the software will be used to perform the function intended. This update is effective for fiscal years beginning after December 15, 2027, and interim periods within those fiscal years. Early adoption and a prospective, retrospective or modified transition approach are permitted. Quanta is currently assessing the effect of this update.
In November 2024, the FASB issued an update that requires incremental disclosures about specific expense categories. Entities are required to disclose in the notes to financial statements the amounts of purchases of inventory, employee compensation, depreciation, intangible asset amortization and selling expense included in each relevant expense caption of the statements of operations. The standard also requires disclosure of the amount, and a qualitative description of, other items remaining in relevant expense captions that are not separately disaggregated. This update is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption and both prospective and retrospective application are permitted. Quanta is currently assessing the effect of this update.
Free Sentinel

Want the next QUANTA SERVICES, INC. new standards disclosure the moment it drops?

Set a Sentinel and we'll alert you the moment QUANTA SERVICES, INC.'s next filing hits EDGAR. No credit card, your email never gets sold.

Track for free

Historical Timeline

Fiscal YearFiled
2025Feb 19, 2026Showing above
2024Feb 20, 2025
2023Feb 22, 2024
2022Feb 23, 2023
2021Feb 25, 2022
2020Mar 1, 2021
2019Feb 28, 2020
2018Feb 28, 2019
2017Feb 28, 2018
2016Mar 1, 2017
2015Feb 29, 2016

About New Standards Disclosures

New accounting standards disclosures describe recently adopted pronouncements and those not yet effective, along with management's assessment of their expected impact. This section provides an early warning system for upcoming changes to how a company reports its financial results, often years before the new rules take effect.

Key signals: when management describes a not-yet-adopted standard's impact as "material" or "still being evaluated," it signals potential significant changes to reported metrics upon adoption. Watch for standards that affect a company's core operations — for example, revenue recognition changes for software companies or lease accounting changes for retailers with large store footprints. The transition method chosen (full retrospective versus modified retrospective) affects comparability with prior periods. Companies that delay adoption to the latest permitted date may be struggling with implementation complexity. Compare the disclosed impact assessments against peers in the same industry to gauge whether management's expectations are reasonable.

Other Available Disclosures

Income TaxesRevenueEarnings Per ShareFair ValuePP&EGoodwill & IntangiblesLeasesSegmentsDebtCommitmentsStock CompensationPay vs Performance