Company: MTZ
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000015615-25-000079
Chunk: 417

Company: MASTEC INC
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 7
Chunk 417
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, 2024 was due to timing of ordinary course billing and collection activities.  Other than certain ordinary course matters subject to litigation, we do not anticipate material collection issues related to our outstanding accounts receivable balances, nor do we believe that we have material amounts due from customers experiencing financial difficulties.  Based on current information, we expect to collect substantially all of our outstanding accounts receivable balances within the next twelve months.

Investing Activities.  Net cash used in investing activities was $87 million as compared to $24 million for the six months ended June 30, 2025 and 2024, respectively, for an increase of $62 million.  Capital expenditures totaled $111 million, or $84 million, net of asset disposals, for the six months ended June 30, 2025, as compared with $57 million, or $26 million, net of asset disposals, for the same period in 2024, for an increase in cash used in investing activities of approximately $59 million, due primarily to timing of equipment purchases, as well as an expected increase in capital expenditures in 2025.

Financing Activities.  Net cash used in financing activities for the six months ended June 30, 2025 was $207 million, as compared to $579 million for the same period in 2024, for a decrease in cash used in financing activities of approximately $372 million.  The decrease was primarily due to repayments, net of borrowings, of our credit facility and term loans, which decreased by $809 million for the six months ended June 30, 2025 as compared with the same period in 2024.  The decrease in cash used in financing activities from above was offset, in part, by an increase in net proceeds of Senior Notes in the six months ended June 30, 2024 of $346 million, consisting of $550 million in proceeds from our 5.900% Senior Notes and $204 million of repayments made on our 6.625% Senior Notes.  Share repurchases totaled approximately $77 million for the six months ended June 30, 2025, whereas there were no share repurchases for the same period in 2024.  Additionally, payments of acquisition-related contingent consideration included within financing activities increased by $9 million.  Total payments of acquisition-related contingent consideration, including payments in excess of acquisition-date liabilities, which are classified within operating activities, totaled $19 million for the six months ended June 30, 202