Company: MTZ
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000015615-25-000021
Chunk: 149

Company: MASTEC INC
Filing Date: 2025-02-28
Form: 10-K
Item: Item 4
Chunk 149
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12,158)14,750 2,592 17,500 20,092 Non-controlling interests assumed related to acquisitions— 39,187 39,187 Balance as of December 31, 202499,029,011 $9,903 (19,719,796)$(656,807)$1,291,027 $2,308,581 $(40,847)$2,911,857 $75,486 $2,987,343 

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

59

MASTEC, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS 

(in thousands)

For the Years Ended December 31,202420232022Cash flows from operating activities:Net income (loss)$199,421 $(47,296)$33,888 Adjustments to reconcile net income (loss) to net cash provided by operating activities:Depreciation366,765 433,929 371,240 Amortization of intangible assets139,853 169,233 135,908 Non-cash stock-based compensation expense32,672 33,335 27,446 (Benefit from) provision for deferred income taxes(34,433)(140,863)9,549 Equity in earnings of unconsolidated affiliates, net(30,228)(30,697)(28,836)Gains on sales and impairments of assets, net(24,138)(21,408)(39,692)Loss on extinguishment of debt11,344 — — Non-cash interest expense, net5,533 5,837 4,172 Other non-cash items, net13,711 8,875 4,743 Changes in assets and liabilities, net of acquisitions:Accounts receivable29,634 45,007 6,298 Contract assets207,703 (54,185)(304,351)Inventories26,345 33,018 (20,523)Other assets, current and long-term portion20,546 75,047 68,603 Accounts payable and accrued expenses(161,734)165,892 192,119 Contract liabilities247,502 49,384 (39,372)Other liabilities, current and long-term portion71,129 (37,831)(68,895)Net cash provided by operating activities$1,121