Company: MTZ
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000015615-25-000021
Chunk: 1416

Company: MASTEC INC
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1C
Chunk 1416
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 and Infrastructure and Energy Alternatives, Inc. Portions of certain income and expenses represent allocations made from affiliates for items applicable to IEA LLC as a whole. Therefore, the financial statements of IEA LLC have been prepared from the separate records maintained by IEA LLC and its parent and may not be indicative of the conditions that would have existed or the results of operations if IEA LLC had been operated as an unaffiliated company.

/s/ Deloitte & Touche LLP

Indianapolis, Indiana

February 29, 2024

We began serving as IEA LLC’s auditor in 2018. In 2024 we became the predecessor auditor.

55

MASTEC, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share amounts)

For the Years Ended December 31,202420232022Revenue$12,303,464 $11,995,934 $9,778,038 Costs of revenue, excluding depreciation and amortization10,675,987 10,613,762 8,586,333 Depreciation366,765 433,929 371,240 Amortization of intangible assets139,853 169,233 135,908 General and administrative expenses684,508 698,899 559,437 Interest expense, net193,266 234,405 112,255 Equity in earnings of unconsolidated affiliates, net(30,228)(30,697)(28,836)Loss on extinguishment of debt11,344 — — Other expense (income), net11,006 (40,893)(1,358)Income (loss) before income taxes$250,963 $(82,704)$43,059 (Provision for) benefit from income taxes(51,542)35,408 (9,171)Net income (loss)$199,421 $(47,296)$33,888 Net income attributable to non-controlling interests36,633 2,653 534 Net income (loss) attributable to MasTec, Inc.$162,788 $(49,949)$33,354 Earnings (loss) per share (Note 2):Basic earnings (loss) per share$2.09 $(0.64)$0.45 Basic weighted average common shares outstanding78,049 77,535 74,917 Diluted earnings (loss) per share$2