Company: MTZ
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000015615-25-000021
Chunk: 1977

Company: MASTEC INC
Filing Date: 2025-02-28
Form: 10-K
Item: Item 3
Chunk 1977
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,559)751 (2,155)Net (decrease) increase in cash and cash equivalents(129,658)158,969 9,856 Cash and cash equivalents - beginning of period529,561 370,592 360,736 Cash and cash equivalents - end of period$399,903 $529,561 $370,592 

Supplemental cash flow information:Interest paid$195,338 $237,645 $106,484 Income taxes paid, net of refunds$43,953 $9,608 $8,603 Supplemental disclosure of non-cash information:Additions to property and equipment from finance leases and other financing arrangements$151,009 $147,736 $232,249 

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

60

MASTEC, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Note 1 – Business, Basis of Presentation and Significant Accounting Policies 

Nature of the BusinessMasTec, Inc. (collectively with its subsidiaries, “MasTec,” or the “Company”) is a leading infrastructure construction company operating mainly throughout North America across a range of industries.  The Company’s primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy, utility and other infrastructure, such as: wireless, wireline/fiber and customer fulfillment activities; power delivery infrastructure, including transmission, distribution, grid hardening and modernization, environmental planning and compliance; power generation infrastructure, primarily from clean energy and renewable sources; pipeline infrastructure, including for natural gas, water and carbon capture sequestration pipelines and pipeline integrity services; heavy civil and industrial infrastructure, including roads, bridges and rail; and environmental remediation services.  MasTec’s customers are primarily in these industries.  MasTec reports its results under five reportable segments: (1) Communications; (2) Clean Energy and Infrastructure; (3) Power Delivery; (4) Pipeline Infrastructure and (5) Other.  During the fourth quarter of 2024, the Company renamed its Oil and Gas segment as the Pipeline Infrastructure segment to better represent the nature of the segment’s operations, end markets and customer characteristics.  There was no change to the composition of the segment or its historical results.Principles of ConsolidationThe accompanying consolidated financial statements include MasTec, Inc. and its subsidiaries and include the accounts of all majority owned subsidiaries over which the Company exercises