Company: MTZ
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000015615-25-000052
Chunk: 4

Company: MASTEC INC
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 4
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(6,992)(6,992)Balance as of March 31, 202599,325,262 $9,932 (20,052,361)$(693,880)$1,293,708 $2,318,484 $(43,903)$2,884,341 $70,918 $2,955,259 Three Months Ended March 31, 2024Balance as of December 31, 202399,093,134 $9,909 (19,813,055)$(659,913)$1,263,360 $2,145,793 $(52,997)$2,706,152 $15,109 $2,721,261 Net (loss) income(41,180)(41,180)6,721 (34,459)Other comprehensive income2,343 2,343 — 2,343 Non-cash stock-based compensation9,673 9,673 9,673 Issuance of restricted shares, net210,646 21 (21)— — Shares withheld for taxes, net of other stock issuances(31,625)(3)(2,721)(2,724)(2,724)Distributions to non-controlling interests— (6,835)(6,835)Non-controlling interests assumed related to acquisitions— 765 765 Balance as of March 31, 202499,272,155 $9,927 (19,813,055)$(659,913)$1,270,291 $2,104,613 $(50,654)$2,674,264 $15,760 $2,690,024 

The accompanying notes are an integral part of these consolidated financial statements.

6

MASTEC, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited - in thousands)

Three Months Ended March 31, 20252024Cash flows from operating activities:Net income (loss)$12,327 $(34,459)Adjustments to reconcile net income (loss) to net cash provided by operating activities:Depreciation76,225 107,435 Amortization of intangible assets32,636 33,691 Non-cash stock-based compensation expense6,943 9,673 Benefit from deferred income taxes(13,618)(44,137)(Recovery of)