Company: MTZ
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000015615-25-000079
Chunk: 6

Company: MASTEC INC
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 6
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9,909 (19,813,055)$(659,913)$1,263,360 $2,145,793 $(52,997)$2,706,152 $15,109 $2,721,261 Net (loss) income(7,192)(7,192)16,501 9,309 Other comprehensive income1,468 1,468 — 1,468 Non-cash stock-based compensation16,698 16,698 16,698 Forfeiture of restricted shares, net(16,611)(2)2 — — Shares withheld for taxes, net of other stock issuances(31,972)(3)(2,759)(2,762)(2,762)Distributions to non-controlling interests— (12,632)(12,632)Non-controlling interests assumed related to acquisitions— 765 765 Balance as of June 30, 202499,044,551 $9,904 (19,813,055)$(659,913)$1,277,301 $2,138,601 $(51,529)$2,714,364 $19,743 $2,734,107 

The accompanying notes are an integral part of these consolidated financial statements.

7

MASTEC, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited - in thousands)

Six Months Ended June 30, 20252024Cash flows from operating activities:Net income$102,461 $9,309 Adjustments to reconcile net income to net cash provided by operating activities:Depreciation146,159 209,576 Amortization of intangible assets65,323 67,301 Non-cash stock-based compensation expense16,314 16,698 Benefit from deferred income taxes(26,224)(65,312)Equity in earnings of unconsolidated affiliates, net(17,356)(15,111)Gains on sales and impairments of assets, net(8,831)(9,415)Loss on extinguishment of debt— 11,344 Non-cash interest expense, net2,545 2,885 Other non-cash items, net(129)12,714 Changes in assets and liabilities, net of acquisitions:Accounts receivable(41,145)45,258 Contract assets(240,582)222