Company: MTZ
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000015615-25-000021
Chunk: 2497

Company: MASTEC INC
Filing Date: 2025-02-28
Form: 10-K
Item: Item 7
Chunk 2497
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3 million was available for future share repurchases under the Company’s March 2020 share repurchase program.During both the fourth quarter of 2024 and second quarter of 2022, the Company reissued approximately 0.1 million shares of its treasury stock with a cost basis of $3.1 million and $4.3 million, respectively, in settlement of certain Additional Payments in connection with the HMG acquisition.  For additional information related to shares issued for acquisitions, see Note 2 - Earnings Per Share and Note 3 - Acquisitions, Goodwill and Other Intangible Assets, Net.Accumulated Other Comprehensive LossA rollforward of activity within accumulated other comprehensive income (loss) for the periods indicated was as follows (in thousands):For the Years Ended December 31,202420232022Foreign CurrencyOtherTotalForeign CurrencyOtherTotalForeign CurrencyOtherTotalBalance as of January 1$(65,408)$12,411 $(52,997)$(67,103)$16,148 $(50,955)$(64,014)$(14,762)$(78,776)Unrealized (losses) gains, net of tax(2,949)349 (2,600)1,695 (3,737)(2,042)(3,089)30,910 27,821 Consideration transferred in a foreign subsidiary14,750 — 14,750 — — — — — — Balance as of December 31$(53,607)$12,760 $(40,847)$(65,408)$12,411 $(52,997)$(67,103)$16,148 $(50,955)Unrealized foreign currency translation activity, net, for the three years in the period ended December 31, 2024 relates primarily to the Company’s activities in Canada and Mexico.  Other unrealized activity within accumulated comprehensive loss for the three years in the period ended December 31, 2024 relates to unrealized investment gains or losses associated with interest rate swaps for the Waha JVs.  See Note 4 - Fair Value of Financial Instruments for additional information.  Consideration transferred in a foreign subsidiary relates to the 40% equity interest of a 

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MasTec subsidiary that was included as consideration transferred for a 2024 acquisition.  See Note 3 - Acquisitions, Goodwill and Other Intangible Assets, Net for additional information.

Note 12