Company: MTZ
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000015615-25-000021
Chunk: 2769

Company: MASTEC INC
Filing Date: 2025-02-28
Form: 10-K
Item: Item 8
Chunk 2769
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 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, Basis of Presentation and Significant Accounting Policies.  Intercompany revenue and costs among the reportable segments are accounted for as if the sales were to third parties because these items are based on negotiated fees between the segments involved.  All intercompany transactions and balances are eliminated in consolidation.  Intercompany revenue and costs between entities within a reportable segment are eliminated to arrive at segment totals.  Eliminations between segments are separately presented.  Corporate results include amounts related to corporate functions, including treasury and administration functions, including for legal and professional matters, including certain settlements, as well as changes in the fair value of Earn-outs, other liabilities and certain investments, acquisition-related transaction costs and other discrete items, including certain integration activities and debt transaction costs.  Segment results include certain allocations of centralized costs such as general liability, medical and workers’ compensation insurance and certain information technology and interest costs, as well as certain discrete items, including certain acquisition and business integration and/or streamlining costs.  Income tax expense, which is recorded within Corporate results, is managed on a consolidated basis and is not allocated to the reportable segments.Earnings before interest, taxes, depreciation and amortization (“EB