Company: MTZ
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000015615-25-000021
Chunk: 1287

Company: MASTEC INC
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1A
Chunk 1287
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 $28 million, including for insurance, legal and other matters, and fair value increases of approximately $10 million for certain property and equipment.The following table provides a reconciliation of changes in other intangible assets, net, for the periods indicated (in millions):Other Intangible Assets, NetCustomer Relationships and BacklogTrade Names (a)Other (b)TotalOther intangible assets, gross, as of December 31, 2022$1,089.4 $228.9 $86.6 $1,404.9 Accumulated amortization(388.8)(28.9)(40.9)(458.6)Other intangible assets, net, as of December 31, 2022$700.6 $200.0 $45.7 $946.3 Additions from new business combinations6.7 0.1 — 6.8 Currency translation adjustments— — 0.4 0.4 Amortization expense(140.0)(20.9)(8.3)(169.2)Other intangible assets, net, as of December 31, 2023$567.3 $179.2 $37.8 $784.3 Additions from new business combinations81.0 3.2 — 84.2 Currency translation adjustments— — (1.2)(1.2)Amortization expense(114.1)(19.4)(6.4)(139.9)Other intangible assets, net, as of December 31, 2024$534.2 $163.0 $30.2 $727.4 Remaining weighted average amortization, in years1212812(a)    Includes approximately $34.5 million of a non-amortizing trade name as of both December 31, 2023 and 2022.  In connection with its fourth quarter 2024 assessment of goodwill and indefinite-lived intangible assets, management reassessed the indefinite-life classification of its $34.5 million non-amortizing trade name intangible asset.  Management determined that, based on changes in the asset’s characteristics, a finite-life classification for this asset was more appropriate.  As a result, the Company changed the classification of this intangible asset from indefinite-lived to finite-lived and began amortizing it in the fourth quarter of 2024, at which time its estimated remaining useful life