Company: MTZ
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000015615-25-000128
Chunk: 45

Company: MASTEC INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 45
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 2024, MasTec paid CCI approximately $1.8 million and $2.2 million, respectively, and for the nine months ended September 30, 2025 and 2024, MasTec paid approximately $4.5 million and $10.8 million, respectively, for such services.  Amounts payable to CCI totaled approximately $1.1 million and $0.7 million as of September 30, 2025 and December 31, 2024, respectively.  The Company also rents equipment to CCI and revenue from such rentals totaled approximately $0.3 million for both the nine months ended September 30, 2025 and 2024.MasTec has a subcontracting arrangement with an entity for the performance of construction services, the minority owners of which include an entity controlled by Jorge Mas and José R. Mas, along with two members of management of a MasTec subsidiary.  For the three months ended September 30, 2025 and 2024, MasTec incurred subcontracting expenses in connection with this arrangement of approximately $2.0 million and $0.9 million, respectively, and for the nine months ended September 30, 2025 and 2024, subcontracting expenses totaled approximately $3.4 million and $5.8 million, respectively.  Related amounts payable totaled approximately $1.4 million as of September 30, 2025.MasTec has an aircraft leasing arrangement with an entity that is owned by Jorge Mas.  For the three months ended September 30, 2025 and 2024, payments related to this leasing arrangement totaled approximately $1.4 million and $1.6 million, respectively, and for the nine months ended September 30, 2025 and 2024, MasTec paid approximately $4.2 million and $4.5 million, respectively.MasTec performs construction services on behalf of a professional Miami soccer franchise (the “Franchise”) in which Jorge Mas and José R. Mas are majority owners.  Construction services include, and have included, the construction of a soccer facility and stadium as well as utility and wireless infrastructure services.  Construction services related to site preparation for a new soccer complex began in 2023.  For the three months ended September 30, 2025 and 2024, revenue under these arrangements totaled approximately $16.5 million and $5.0 million, respectively, and totaled approximately $