Company: MTZ
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000015615-25-000052
Chunk: 2

Company: MASTEC INC
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 2
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 integral part of these consolidated financial statements.

4

MASTEC, INC.

CONSOLIDATED BALANCE SHEETS

 (unaudited - in thousands, except share information)

March 31,2025December 31,2024AssetsCurrent assets:Cash and cash equivalents$345,749 $399,903 Accounts receivable, net of allowance1,345,116 1,381,462 Contract assets1,516,333 1,555,807 Inventories, net114,504 107,345 Prepaid expenses120,709 118,888 Other current assets103,148 89,125 Total current assets$3,545,559 $3,652,530 Property and equipment, net1,583,302 1,548,916 Operating lease right-of-use assets386,765 396,151 Goodwill, net2,204,912 2,203,077 Other intangible assets, net694,723 727,366 Other long-term assets446,677 447,235 Total assets$8,861,938 $8,975,275 Liabilities and equityCurrent liabilities:Current portion of long-term debt, including finance leases$192,106 $186,095 Current portion of operating lease liabilities149,112 146,183 Accounts payable985,715 1,105,747 Accrued salaries and wages255,926 205,152 Other accrued expenses424,579 455,043 Contract liabilities766,230 735,625 Other current liabilities136,207 165,854 Total current liabilities$2,909,875 $2,999,699 Long-term debt, including finance leases2,041,597 2,038,017 Long-term operating lease liabilities248,800 261,303 Deferred income taxes349,397 362,772 Other long-term liabilities357,010 326,141 Total liabilities$5,906,679 $5,987,932 Commitments and contingencies (Note 12)EquityPreferred stock, $1.00 par value: authorized shares - 5,000,000; issued and outstanding shares – none$— $— Common stock, $0.10 par value: authorized shares - 145,000,000; issued shares - 99,325,262 and 99,029,011 (including 1,