Company: MTZ
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000015615-25-000021
Chunk: 1646

Company: MASTEC INC
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1C
Chunk 1646
---
 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 

86

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 – Income Taxes

The components of income or loss before income taxes for the periods indicated were as follows (in millions):For the Years Ended December 31,202420232022Domestic$255.7 $(84.9)$66.7 Foreign(4.7)2.2 (23.6)Total$251.0 $(82.7)$43.1 The provision for income taxes for the periods indicated were as follows (in millions):For the Years Ended December 31,202420232022Current:Federal$68.9 $