Supplemental Guarantor Financial Information (Tables)

12 Months Ended

Dec. 31, 2012

CONDENSED CONSOLIDATING BALANCE SHEETS

As of December 31, 2012 (in thousands)



	MasTec, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated MasTec, Inc.
Assets
Current assets	$	—	$	980,104	$	48,373		$	—		$	1,028,477
Current assets of discontinued operations	—		13,836		4,755			—			18,591
Property and equipment, net	—		338,974		11,381			—			350,355
Goodwill and other intangible assets, net	—		926,712		30,729			—			957,441
Net investments in and advances to (from) consolidated affiliates	854,993		172,534		(21,779		)	(1,005,748		)	—
Other assets	7,702		37,640		80			—			45,422
Long-term assets of discontinued operations	—		4,711		2,937			—			7,648
Total assets	$	862,695	$	2,474,511	$	76,476		$	(1,005,748	)	$	2,407,934
Liabilities and Shareholders’ Equity
Current liabilities	$	22	$	678,301	$	22,810		$	—		$	701,133
Current liabilities of discontinued operations	—		574		3,995			—			4,569
Long-term debt	—		546,262		61			—			546,323
Other liabilities	—		273,198		20,776			—			293,974
Total liabilities	$	22	$	1,498,335	$	47,642		$	—		$	1,545,999
Total shareholders’ equity	$	862,673	$	976,176	$	28,834		$	(1,005,748	)	$	861,935
Total liabilities and shareholders’ equity	$	862,695	$	2,474,511	$	76,476		$	(1,005,748	)	$	2,407,934

CONDENSED CONSOLIDATING BALANCE SHEETS

As of December 31, 2011 (in thousands)



	MasTec, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated MasTec, Inc.
Assets
Current assets	$	—	$	744,868	$	53,328		$	—		$	798,196
Current assets of discontinued operations	—		22,572		8,036			—			30,608
Property and equipment, net	—		251,948		11,059			—			263,007
Goodwill and other intangible assets, net	—		793,832		31,635			—			825,467
Net investments in and advances to (from) consolidated affiliates	811,982		117,963		(41,830		)	(888,115		)	—
Other assets	7,119		47,580		1,033			—			55,732
Long-term assets of discontinued operations	—		114,378		7,317			—			121,695
Total assets	$	819,101	$	2,093,141	$	70,578		$	(888,115	)	$	2,094,705
Liabilities and Shareholders’ Equity
Current liabilities	—		533,906		29,265			—			563,171
Current liabilities of discontinued operations	—		20,912		8,362			—			29,274
Long-term debt	—		460,603		87			—			460,690
Other liabilities	—		209,225		21,138			—			230,363
Total liabilities	$	—	$	1,224,646	$	58,852		$	—		$	1,283,498
Total shareholders’ equity	$	819,101	$	868,495	$	11,726		$	(888,115	)	$	811,207
Total liabilities and shareholders’ equity	$	819,101	$	2,093,141	$	70,578		$	(888,115	)	$	2,094,705

Condensed Consolidating Statements Of Operations And Comprehensive Income

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

For the Year Ended December 31, 2012 (in thousands)



	MasTec, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated MasTec, Inc.
Revenue	$	—		$	3,538,288		$	188,501		$	—		$	3,726,789
Costs of revenue, excluding depreciation and amortization	—			3,074,031			165,164			—			3,239,195
Depreciation and amortization	2			89,626			2,330			—			91,958
General and administrative expenses	1,665			145,831			10,028			—			157,524
Interest expense, net	—			37,378			(2		)	—			37,376
Other expense, net	—			7,838			179			—			8,017
(Loss) income from continuing operations before provision for income taxes	$	(1,667	)	$	183,584		$	10,802		$	—		$	192,719
Benefit (provision) for income taxes	675			(74,440		)	(2,315		)	—			(76,080		)
(Loss) income from continuing operations before non-controlling interests	$	(992	)	$	109,144		$	8,487		$	—		$	116,639
(Loss) income from discontinued operations, net of tax	—			(7,390		)	(1,833		)	—			(9,223		)
Equity in income from subsidiaries, net of tax	108,408			—			—			(108,408		)	—
Net income (loss)	$	107,416		$	101,754		$	6,654		$	(108,408	)	$	107,416
Net loss attributable to non-controlling interests	—			—			(10		)	—			(10		)
Net income (loss) attributable to MasTec, Inc.	$	107,416		$	101,754		$	6,664		$	(108,408	)	$	107,426
Comprehensive income (loss)	$	107,416		$	102,275		$	8,578		$	(108,408	)	$	109,861

CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

For the Year Ended December 31, 2011 (in thousands)



	MasTec, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated MasTec, Inc.
Revenue	$	—		$	2,726,618		$	104,674		$	—		$	2,831,292
Costs of revenue, excluding depreciation and amortization	—			2,360,578			99,168			—			2,459,746
Depreciation and amortization	—			71,905			2,246			—			74,151
General and administrative expenses	2,530			125,136			4,928			—			132,594
Interest expense, net	—			34,391			75			—			34,466
Gain on remeasurement of equity interest in acquiree	—			(29,041		)	—			—			(29,041		)
Other expense (income), net	—			224			(128		)	—			96
(Loss) income from continuing operations before provision for income taxes	$	(2,530	)	$	163,425		$	(1,615	)	$	—		$	159,280
Benefit (provision) for income taxes	989			(64,395		)	1,582			—			(61,824		)
(Loss) income from continuing operations before non-controlling interests	$	(1,541	)	$	99,030		$	(33	)	$	—		$	97,456
Income (loss) from discontinued operations, net of tax	—			10,007			(1,491		)	—			8,516
Equity in income from subsidiaries, net of tax	107,513			—			—			(107,513		)	—
Net income (loss)	$	105,972		$	109,037		$	(1,524	)	$	(107,513	)	$	105,972
Net loss attributable to non-controlling interests	—			—			(29		)	—			(29		)
Net income (loss) attributable to MasTec, Inc.	$	105,972		$	109,037		$	(1,495	)	$	(107,513	)	$	106,001
Comprehensive income (loss)	$	105,972		$	108,877		$	(3,154	)	$	(107,513	)	$	104,182

Condensed Consolidating Statements Of Cash Flows

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

For the Year Ended December 31, 2012 (in thousands)



	MasTec, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated MasTec, Inc.
Net cash (used in) provided by operating activities	$	(1,254	)	$	151,866		$	21,523		$	—	$	172,135
Cash flows provided by (used in) investing activities:
Cash paid for acquisitions, net, including contingent consideration	$	—		$	(151,736	)	$	(1,402	)	$	—	$	(153,138	)
Capital expenditures	—			(77,744		)	(1,942		)	—		(79,686		)
Proceeds from sale of assets	—			7,385			—			—		7,385
Proceeds from disposal of business, net	—			97,728			—			—		97,728
Investments in life insurance policies	(284		)	—			—			—		(284		)
Net cash used in investing activities	$	(284	)	$	(124,367	)	$	(3,344	)	$	—	$	(127,995	)
Cash flows (used in) provided by financing activities:
Proceeds from credit facility	$	—		$	959,183		$	—		$	—	$	959,183
Repayments of credit facility	—			(885,183		)	—			—		(885,183		)
Repayments of other borrowings	—			(21,455		)	—			—		(21,455		)
Proceeds from book overdrafts	—			116			—			—		116
Payments of capital lease obligations	—			(21,034		)	(26		)	—		(21,060		)
Proceeds from stock options exercises and other share-based awards	5,013			—			—			—		5,013
Excess tax benefit from stock-based compensation	—			759			—			—		759
Purchases of treasury stock	(75,000		)	—			—			—		(75,000		)
Payments of financing costs	—			(117		)	—			—		(117		)
Net financing activities and advances (to) from consolidated affiliates	71,525			(58,181		)	(13,344		)	—		—
Net cash provided by (used in) financing activities	$	1,538		$	(25,912	)	$	(13,370	)	$	—	$	(37,744	)
Net increase (decrease) in cash and cash equivalents	—			1,587			4,809			—		6,396
Net effect of currency translation on cash	—			—			91			—		91
Cash and cash equivalents - beginning of period	—			16,240			4,040			—		20,280
Cash and cash equivalents - end of period	$	—		$	17,827		$	8,940		$	—	$	26,767
Cash and cash equivalents of discontinued operations	$	—		$	275		$	110		$	—	$	385
Cash and cash equivalents of continuing operations	$	—		$	17,552		$	8,830		$	—	$	26,382

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS

For the Year Ended December 31, 2011 (in thousands)



	MasTec, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated MasTec, Inc.
Net cash (used in) provided by operating activities	$	(939	)	$	21,729		$	(14,964	)	$	—	$	5,826
Cash flows used in investing activities:
Cash paid for acquisitions, net, including contingent consideration	$	(31,236	)	$	(44,716	)	$	(9,443	)	$	—	$	(85,395	)
Capital expenditures	—			(71,615		)	(95		)	—		(71,710		)
Proceeds from sale of assets	—			5,887			340			—		6,227
Proceeds from sale or redemption of investments	—			4,600			—			—		4,600
Investments in life insurance policies	(284		)	—			—			—		(284		)
Net cash used in investing activities	$	(31,520	)	$	(105,844	)	$	(9,198	)	$	—	$	(146,562	)
Cash flows (used in) provided by financing activities:
Proceeds from credit facility	$	—		$	370,411		$	—		$	—	$	370,411
Repayments of credit facility	—			(310,411		)	—			—		(310,411		)
Repayments of other borrowings	—			(13,956		)	—			—		(13,956		)
Proceeds from book overdrafts	—			14,906			—			—		14,906
Payments of capital lease obligations	—			(16,422		)	(36		)	—		(16,458		)
Proceeds from stock options exercises and other share-based awards	12,542			—			—			—		12,542
Excess tax benefit from stock-based compensation	—			7,766			—			—		7,766
Purchases of treasury stock	(75,000		)	—			—			—		(75,000		)
Payments of financing costs	—			(6,589		)	—			—		(6,589		)
Net financing activities and advances (to) from consolidated affiliates	94,917			(122,573		)	27,656			—		—
Net cash provided by (used in) financing activities	$	32,459		$	(76,868	)	$	27,620		$	—	$	(16,789	)
Net (decrease) increase in cash and cash equivalents	—			(160,983		)	3,458			—		(157,525		)
Net effect of currency translation on cash	—			—			201			—		201
Cash and cash equivalents - beginning of period	—			177,223			381			—		177,604
Cash and cash equivalents - end of period	$	—		$	16,240		$	4,040		$	—	$	20,280
Cash and cash equivalents of discontinued operations	$	—		$	11,386		$	1,488		$	—	$	12,874
Cash and cash equivalents of continuing operations	$	—		$	4,854		$	2,552		$	—	$	7,406