Company: MTZ
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000015615-25-000079
Chunk: 335

Company: MASTEC INC
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 6
Chunk 335
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 and six months ended June 30, 2024, the Company paid approximately $0.7 million in connection with these agreements.  As of both June 30, 2025 and December 31, 2024, life insurance assets associated with these agreements totaled approximately $27.5 million.In any given year, the Company may engage in certain transactions on behalf of or to former owners of acquired businesses (“former owners”) and/or entities in which members of subsidiary management have ownership or commercial interests (“related entities or entity”).  A summary of these related party 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 June 30, 2025 and 2024, payments to these related entities totaled approximately $9.3 million and $8.3 million, respectively, and for the six months ended June 30, 2025 and 2024, such payments totaled approximately $16.7 million and $18.6 million, respectively.  Revenue from such arrangements totaled approximately $3.4 million and $4.2 million for the three months ended June 30, 2025 and 2024, respectively, and totaled approximately $5.0 million and $8.6 million for the six months ended June 30, 2025 and 2024, respectively.  Payables associated with such arrangements totaled approximately $2.6 million and $2.8 million as of June 30, 2025 and December 31, 2024, respectively.  As of June 30, 2025 and December 31, 2024, accounts receivable, net, less deferred revenue related to these arrangements totaled receivables of approximately $3.6 million and $3.9 million, respectively.The Company made advances of $0.3 million on behalf of or to former owners during the six months ended June 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