Company: MTZ
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000015615-25-000128
Chunk: 388

Company: MASTEC INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 7
Chunk 388
---
 transactions for the periods indicated is noted below.MasTec purchases, rents and leases equipment and purchases various types of supplies and services used in its business, and from time to time, rents equipment to, sells certain supplies, or performs construction services on behalf of, related entities.  For the three months ended September 30, 2025 and 2024, payments to these related entities totaled approximately $10.6 million and $6.8 million, respectively, and for the nine months ended September 30, 2025 and 2024, such payments totaled approximately $27.3 million and $25.4 million, respectively.  Payables associated with such arrangements totaled approximately $2.1 million and $2.8 million as of September 30, 2025 and December 31, 2024, respectively.  Revenue from such arrangements totaled approximately $3.6 million and $5.4 million for the three months ended September 30, 2025 and 2024, respectively, and totaled approximately $8.6 million and $14.0 million for the nine months ended September 30, 2025 and 2024, respectively.  As of both September 30, 2025 and December 31, 2024, accounts receivable, net, less deferred revenue related to these arrangements totaled receivables of approximately $3.9 million.The Company made advances of $0.3 million on behalf of or to former owners during the nine months ended September 30, 2024, which were obligated to be repaid under the provisions of the related purchase agreements.  As of December 31, 2024, amounts receivable for such advances totaled approximately $0.2 million and were repaid in 2025.Additionally, the Company had certain arrangements with a related entity, including a fee arrangement in conjunction with a $15.0 million letter of credit issued by the Company on behalf of this entity.  This letter of credit was cancelled as of March 31, 2025.  Income recognized in connection with these arrangements totaled approximately $0.2 million for the nine months ended September 30, 2025 and totaled approximately $0.3 million and $0.6 million for the three and nine months ended September 30, 2024, respectively.  As of December 31, 2024, related amounts receivable totaled approximately $0.4 million, which were repaid in 2025.Non-controlling