Company: MTZ
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000015615-25-000052
Chunk: 98

Company: MASTEC INC
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 2
Chunk 98
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$395.4 $518.9 $2,203.1 Measurement period adjustments (c)— — 1.8 — 1.8 Goodwill, net, as of March 31, 2025$546.5 $742.3 $397.2 $518.9 $2,204.9 (a)    Recast to reflect segment changes.(b)    Accumulated impairment loss includes the effects of currency translation gains and/or losses.(c)    Measurement period adjustments represent adjustments, net, to preliminary estimates of fair value within the measurement period of up to one year from the date of acquisition.The following table provides a reconciliation of changes in other intangible assets, net, for the period indicated (in millions):Other Intangible Assets, NetCustomer Relationships and BacklogTrade NamesOther (a)TotalOther intangible assets, gross, as of December 31, 2024$1,057.6 $226.1 $76.5 $1,360.2 Accumulated amortization(523.4)(63.1)(46.3)(632.8)Other intangible assets, net, as of December 31, 2024$534.2 $163.0 $30.2 $727.4 Currency translation adjustments— — (0.1)(0.1)Amortization expense(26.3)(5.1)(1.2)(32.6)Other intangible assets, net, as of March 31, 2025$507.9 $157.9 $28.9 $694.7 (a)Consists principally of pre-qualifications and non-compete agreements.During the first quarter of 2025, certain reporting units within the Communications and Power Delivery operating segments were restructured to more closely align with the segment’s end markets and to better correspond with the operational management reporting structure of both segments.  Under both the current and previous reporting unit structures, each of the components within the Communications and Power Delivery operating segments is a reporting unit.  Management performed testing under both the current and previous reporting unit structures.  For the tested reporting units, management estimated their fair values using a combination of market and income approaches using Level 3 inputs.  Under the market approach, fair values were estimated using published market multiples for comparable companies and applying them to revenue and earnings before interest, taxes