Company: MTZ
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000015615-25-000128
Chunk: 46

Company: MASTEC INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 46
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46.1 million and $13.7 million for the nine months ended September 30, 2025 and 2024, respectively.  As of September 30, 

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2025 and December 31, 2024, amounts receivable related to these arrangements totaled approximately $31.6 million and $12.8 million, respectively.  Payments for other expenses related to the Franchise totaled approximately $0.2 million for both the three months ended September 30, 2025 and 2024, and totaled approximately $0.8 million for both the nine months ended September 30, 2025 and 2024.MasTec has a subcontracting arrangement to perform construction services for an entity in which José R. Mas had a minority interest, and a member of management of a MasTec subsidiary owned the remaining interest.  On January 1, 2024, MasTec acquired José R. Mas’ interest in this entity for approximately $0.7 million.MasTec has split dollar life insurance agreements with trusts, for one of which Jorge Mas is a trustee, and for the other of which José R. Mas is a trustee.  The Company made no payments in connection with these agreements during 2025.  For the nine months ended September 30, 2024, the Company paid approximately $0.4 million, net, in connection with these agreements.  As of both September 30, 2025 and December 31, 2024, life insurance assets associated with these agreements totaled approximately $27.5 million.In any given year, the Company may engage in certain transactions on behalf of or to former owners of acquired businesses (“former owners”) and/or entities in which members of subsidiary management have ownership or commercial interests (“related entities or entity”).  A summary of these related party transactions for the periods indicated is noted below.MasTec purchases, rents and leases equipment and purchases various types of supplies and services used in its business, and from time to time, rents equipment to, sells certain supplies, or performs construction services on behalf of, related entities.  For the three months ended September 30, 2025 and 2024, payments to these related entities totaled approximately $10.6 million and $6.8 million, respectively, and for the nine months ended September 30, 2025 and 2024, such payments totaled approximately $27.3 million and $25.4 million, respectively.  Payables