Company: MTZ
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000015615-25-000128
Chunk: 109

Company: MASTEC INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 8
Chunk 109
---
 to manage collections for the transferred receivable, and, as of September 30, 2025 and December 31, 2024, outstanding sold receivables related thereto totaled approximately $142 million and $84 million, respectively, which amounts are excluded from accounts receivable, net of allowance, in the consolidated balance sheets.  The Company’s involvement in the collection process for these receivables is not considered to constitute significant continuing involvement, and, therefore, the receivables are accounted for as a sale under ASC Topic 860, Transfers and Servicing.  Cash collections from the sale of receivables are reflected within operating activities in the consolidated statements of cash flows.  The Company is also party to arrangements with certain customers that allow for early collection of receivables for a nominal fee, at the Company’s option.  Discount charges related to the above described financing arrangements, which are included within interest expense, net, totaled approximately $5.7 million and $5.3 million for the three months ended September 30, 2025 and 2024, respectively, and totaled approximately $17.6 million and $15.7 million for the nine months ended September 30, 2025 and 2024, respectively.

Note 6 – Debt

The following table provides details of the carrying values of debt as of the periods indicated (in millions):DescriptionMaturity DateSeptember 30,2025December 31,2024Senior credit facility:June 26, 2030Revolving loans$142.4 $43.1 Term loan (a)— 332.5 4.500% Senior NotesAugust 15, 2028600.0 600.0 5.900% Senior NotesJune 15, 2029550.0 550.0 6.625% Senior NotesAugust 15, 202972.2 71.6 2025 Term Loan FacilityJune 26, 2028600.0 — Five-Year Term Loan Facility— 285.0 Finance lease and other obligations408.2 356.5 Total debt obligations$2,372.8 $2,238.7 Less unamortized deferred financing costs(15.9)(14.6)Total debt, net of deferred financing costs$2,356.9 $2,224.1 Current portion of long-term debt157.4 186.1 Long-term debt$2