Company: MTZ
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000015615-25-000021
Chunk: 49

Company: MASTEC INC
Filing Date: 2025-02-28
Form: 10-K
Item: Item 2
Chunk 49
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 statements, which is incorporated by reference.

Contractual Payment Obligations

The following table sets forth our contractual payment obligations as of December 31, 2024 during the periods indicated below (in millions): 

Contractual Obligations TotalLess than1 Year1 - 3 Years3 - 5YearsMore than 5 Years and ThereafterSenior credit facility$375.6 $17.5 $358.1 $— $— 4.500% Senior Notes600.0 — — 600.0 — 5.900% Senior Notes550.0 — — 550.0 — 6.625% Senior Notes 71.6 — — 71.6 — Five-Year Term Loan Facility285.0 15.0 270.0 — — Finance lease and other obligations356.5 154.2 160.9 39.8 1.6 Operating lease liabilities448.7 161.4 199.7 53.1 34.5 Earn-out obligations (a)21.0 21.0 — — — Interest (b)382.9 117.7 192.0 73.2 — Total$3,091.3 $486.8 $1,180.7 $1,387.7 $36.1 

(a)    Under certain acquisition agreements, we have agreed to pay the sellers earn-outs and other amounts based on the performance of the businesses acquired.  Certain of these payments may be made either in cash or in MasTec common stock, or a combination thereof, at our option.  Due to the contingent nature of these payments, we have only included obligations that we expect will be paid in cash and have been earned as of December 31, 2024.

(b)    Represents expected future interest payments on debt and finance lease obligations outstanding as of December 31, 2024, and does not include potential letter of credit or commitment fees associated with our senior unsecured credit facility.  With the exception of our credit facilities and term loans, all of our debt instruments are fixed rate interest obligations.

48

Off-Balance Sheet Arrangements

As is common in our industry, we have entered into certain off-balance sheet arrangements in the ordinary course of business.  Our significant off-balance sheet transactions include liabilities associated