Company: MTZ
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000015615-25-000021
Chunk: 2047

Company: MASTEC INC
Filing Date: 2025-02-28
Form: 10-K
Item: Item 3
Chunk 2047
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 performance. This structure is generally focused on broad end-user markets for the Company’s labor-based construction services.  All five reportable segments derive their revenue primarily from the engineering, installation and maintenance of infrastructure, primarily in North America.The Communications segment performs engineering, construction, maintenance and customer fulfillment activities related to communications infrastructure, primarily for wireless and wireline/fiber communications, wireless integration and optimization and install-to-the-home services, as well as infrastructure for utilities, among others.  The Clean Energy and Infrastructure segment primarily serves energy, utility, government and other end-markets through the installation and construction of power generation facilities, primarily from clean energy and renewable sources, such as wind, solar, biomass, natural gas and hydrogen, as well as battery storage systems for renewable energy; various types of heavy civil and industrial infrastructure services, including roads, bridges and rail; and environmental remediation services.  The Power Delivery segment primarily serves the energy, utility and data center infrastructure industries through the engineering, construction and maintenance of power transmission and distribution infrastructure, including electrical and gas lines, power reserve and battery infrastructure, and distribution network systems, substations and grid modernization; emergency restoration services following natural disasters and accidents; and environmental planning and compliance services.  The Pipeline Infrastructure segment performs engineering, construction, maintenance and other services for pipeline infrastructure, including natural gas, water and carbon capture sequestration pipelines, as well as pipeline integrity, including the repair of pipeline infrastructure and facilitating their safe use throughout their lifecycle, and other services for the energy and utilities industries.  The Other segment includes certain equity investees, the services of which may vary from those provided by the Company’s primary segments, as well as other small business units with activities in certain international end-markets.  In the first quarter of 2025, the Company made changes to its Communications and Power Delivery segment structure to more closely align with the segments’ end markets and to better correspond with the operational management reporting structure of both segments.  These changes included moving a component with utility operations previously reported in the Communications segment to the Power Delivery segment; however, as the changes occurred in the first quarter of 2025, all periods presented in this Annual Report are reported under the historical segment structure.  The impact of these changes to reportable segments, including historical financial information, will be reflected beginning with the Company’s Quarterly Report on Form 10-Q for the quarter ending March 31, 2025.The accounting policies of the reportable segments are the same as those described in Note 1 - Business,