Company: MTZ
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000015615-25-000128
Chunk: 32

Company: MASTEC INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 32
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 included within operating activities in the consolidated statements of cash flows.

18

Additional Lease InformationFuture minimum lease commitments as of September 30, 2025 were as follows (in millions):FinanceLeasesOperatingLeases2025, remaining three months$41.4 $47.4 2026131.0 162.8 202791.3 112.5 202864.6 65.9 202933.9 28.3 Thereafter7.3 38.3 Total minimum lease payments$369.5 $455.2 Less amounts representing interest(27.0)(43.0)Total lease obligations, net of interest$342.5 $412.2 Less current portion135.1 157.0 Long-term portion of lease obligations, net of interest$207.4 $255.2 The following table presents weighted average remaining lease terms and discount rates for finance and non-cancelable operating leases as of the periods indicated:September 30,2025December 31,2024Weighted average remaining lease term (in years):Finance leases3.12.7Operating leases3.53.7Weighted average discount rate:Finance leases4.9 %4.8 %Operating leases5.3 %5.1 %

Note 8 – Stockholders' Equity

Share RepurchasesThe Company’s share repurchase program provides for the repurchase, from time to time, of MasTec common shares in open market transactions or in privately negotiated transactions in accordance with applicable securities laws.  There were no share repurchases under the Company’s share repurchase program for the three months ended September 30, 2025, and for the nine months ended September 30, 2025, the Company repurchased 0.7 million shares of its common stock for an aggregate purchase price totaling $77.3 million, which completed the Company’s $150 million March 2020 share repurchase program during the second quarter of 2025.  There were no share repurchases under the Company’s share repurchase program in any of the three or nine months ended September 30, 2024.  In May 2025, the Company’s Board of Directors authorized a new $250 million share repurchase program, for which the full amount remains available for future share repurchases as of September 30, 2025.  The Company’s share repurchase program does not have an expiration date and may