Company: MTZ
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000015615-25-000021
Chunk: 1330

Company: MASTEC INC
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1A
Chunk 1330
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$(19.1)$9,778.0 Costs of revenue, excluding depreciation and amortization2,810.7 2,388.8 2,387.8 1,025.0 (2.8)(18.5)8,591.0 Other segment items (c)95.9 127.0 134.5 31.1 (29.0)(0.6)358.9 EBITDA$327.1 $102.8 $202.9 $163.5 $31.8 $— $828.1  (a)    Revenue generated primarily by utilities customers represented 24.0%, 24.3% and 23.6% of Communications segment revenue for the years ended December 31, 2024, 2023 and 2022, respectively.(b)    Total consolidated revenue equals total reportable segment revenue of $12,303.5 million, $11,995.9 million and $9,778.0 million for the years ended December 31, 2024, 2023 and 2022, respectively, as there is no revenue recorded within Corporate results.(c)    For each of the years ended December 31, 2024, 2023 and 2022, other segment items for each reportable segment includes general and administrative expenses, equity in earnings or losses of unconsolidated affiliates, net, and other income or expense, net.For the Years Ended December 31,EBITDA Reconciliation:202420232022Income (loss) before income taxes$251.0 $(82.7)$43.1 Plus:Interest expense, net193.3 234.4 112.3 Depreciation366.8 433.9 371.2 Amortization139.9 169.2 135.9 Corporate243.3 163.9 165.6 Segment EBITDA$1,194.1 $918.8 $828.1 For the year ended December 31, 2024, Corporate results included a loss on debt extinguishment of $11.3 million.  In addition, for the year ended December 31, 2024, Corporate results included approximately $10.7 million of expenses related to changes in fair value of acquisition-related contingent items, and for the years ended December 31,