Company: MTZ
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000015615-25-000021
Chunk: 389

Company: MASTEC INC
Filing Date: 2025-02-28
Form: 10-K
Item: Item 6
Chunk 389
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 million, respectively, or $0.3 million and $30.9 million, net of tax, respectively, and for the year ended December 31, 2023, such activity totaled losses of approximately $5.0 million, or $3.7 million, net of tax.Other Investments.  The Company has equity interests in certain other entities that are accounted for as equity method investments.  As of December 31, 2024 and 2023, the Company had an investment of approximately $17 million and $18 million, respectively, in FM Tech, which  provides for additional funding upon the resolution of certain contingencies, which could range up to $7 million as of December 31, 2024.  The fair 

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value of the remaining contingent payments for FM Tech, which are included within other current liabilities, was estimated to be $3 million as of both December 31, 2024 and 2023.  For the years ended December 31, 2024, 2023 and 2022, the Company made equity contributions of approximately $0.4 million, $0.2 million and $1.3 million, respectively, to these other entities.  For the year ended December 31, 2024, distributions from these entities totaled approximately $1.9 million, and for both the years ended December 31, 2023 and 2022, there were no distributions from these entities.  The Company has subcontracting arrangements with certain of these entities for the performance of construction services, and expenses recognized in connection with these arrangements totaled approximately $5.4 million, $2.7 million and $14.2 million for the years ended December 31, 2024, 2023 and 2022, respectively.  As of  December 31, 2024 and 2023, related amounts payable to these entities totaled approximately $0.3 million and $0.1 million, respectively.  In addition, the Company has advanced amounts to certain of these entities, which for the years ended December 31, 2024, 2023 and 2022, totaled approximately $0.1 million, $0.7 million and $3.3 million, respectively.  As of  December 31, 2024 and 2023, receivables related to these arrangements totaled approximately $4.1 million and $4.0 million, respectively.Variable Interest Entities.  The Company has determined that certain of