Company: MTZ
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000015615-25-000021
Chunk: 625

Company: MASTEC INC
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1
Chunk 625
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 are reflected within operating activities in the consolidated statements of cash flows.  The Company is also party to arrangements with certain customers that allow for early collection of receivables for a nominal fee, at the Company’s option.  Discount charges related to the above described financing arrangements, which are included within interest expense, net, totaled approximately $20.7 million, $12.9 million and $9.0 million for the years ended December 31, 2024, 2023 and 2022, respectively.

Note 6 – Property and Equipment, Net

The following table provides details of property and equipment, net, including property and equipment held under finance leases as of the dates indicated (in millions):December 31,20242023Estimated Useful Lives(in years)Land$67.4 $68.5 Buildings and leasehold improvements100.5 90.7 3-40Machinery, equipment and vehicles3,022.4 3,013.9 2-20Office equipment, furniture and internal-use software349.2 330.2 3-7Construction in progress32.5 56.0 Total property and equipment$3,572.0 $3,559.3 Less accumulated depreciation and amortization(2,023.1)(1,907.8)Property and equipment, net$1,548.9 $1,651.5 As of December 31, 2024 and 2023, the gross amount of capitalized internal-use software totaled $228.2 million and $212.7 million, respectively, and, net of accumulated amortization, totaled $51.1 million and $49.8 million, respectively.  Accrued capital expenditures, the effects of which are excluded from capital expenditures in the Company’s consolidated statements of cash flows given their non-cash nature, totaled $7.0 million and $4.4 million as of December 31, 2024 and 2023, respectively.

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Note 7 – Debt 

 The following table provides details of the carrying values of debt as of the dates indicated (in millions): December 31, Description   Maturity Date20242023Senior credit facility:November 1, 2026Revolving loans$43.1 $773.0 Term loan332.5 341.3 4.500% Senior NotesAugust 15, 2028600.0 600.0 5.900