Company: MTZ
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000015615-25-000128
Chunk: 5

Company: MASTEC INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 5
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109 $2,721,261 Net income88,048 88,048 26,671 114,719 Other comprehensive loss(5,779)(5,779)(5,779)Non-cash stock-based compensation24,046 24,046 24,046 Forfeiture of restricted shares, net(30,455)(3)3 — — Shares withheld for taxes, net of other stock issuances(32,333)(3)(2,798)(2,801)(2,801)Distributions to non-controlling interests— (23,499)(23,499)Non-controlling interests assumed related to acquisitions— 765 765 Balance as of September 30, 202499,030,346 $9,903 (19,813,055)$(659,913)$1,284,611 $2,233,841 $(58,776)$2,809,666 $19,046 $2,828,712 

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

7

MASTEC, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited - in thousands)

Nine Months Ended September 30, 20252024Cash flows from operating activities:Net income$268,958 $114,719 Adjustments to reconcile net income to net cash provided by operating activities:Depreciation217,996 289,769 Amortization of intangible assets98,042 101,669 Non-cash stock-based compensation expense25,628 24,046 Provision for (benefit from) deferred income taxes84,030 (10,342)Equity in earnings of unconsolidated affiliates, net(23,911)(22,153)Gains on sales and impairments of assets, net(13,445)(18,267)Loss on extinguishment of debt— 11,344 Non-cash interest expense, net3,724 4,105 Other non-cash items, net1,102 10,980 Changes in assets and liabilities, net of acquisitions:Accounts receivable(304,802)(49,060)Contract assets(453,510)111,870 Inventories(7,527)18,742 Other assets, current and long-term portion(55,572)48,283 Accounts payable and accrued expenses316,030 (