Related Party Transactions

3 Months Ended

Mar. 31, 2014

Related Party Transactions [Abstract]

Related Party Transactions

Related Party Transactions

MasTec purchases, rents and leases equipment used in its business from a number of different vendors on a non-exclusive basis, including Cross Country Pipeline Supply, Inc. (“CCP”), in which MasTec invested $15 million for a 14.85% ownership interest effective November 8, 2013. Juan Carlos Mas, who is the brother of Jorge Mas, Chairman of MasTec's Board of Directors, and Jose Mas, MasTec's Chief Executive Officer, serves as the chairman of CCP. In addition, an entity owned by the Mas family, including Jorge and Jose Mas, is a minority shareholder of CCP. MasTec paid CCP approximately $0.9 million for equipment rentals, leases and servicing for the three month period ended March 31, 2014.

MasTec leases employees to a customer, in which Jorge Mas and Jose Mas own a minority interest. For the three month periods ended March 31, 2014 and 2013, MasTec charged to the customer approximately $0.2 million and $0.1 million, respectively. As of both March 31, 2014 and December 31, 2013, receivables of $0.1 million attributable to this arrangement were outstanding. The Company also provides satellite communication services to this customer. For both of the three month periods ended March 31, 2014 and 2013, revenues relating to this customer were approximately $0.3 million. As of both March 31, 2014 and December 31, 2013, outstanding receivables from this arrangement totaled $0.4 million.        

Split Dollar and Deferred Bonus Agreements

MasTec has a split dollar agreement with Jorge Mas. The Company made no payments in connection with this agreement in either of the three month periods ended March 31, 2014 or 2013. MasTec also has a split dollar agreement and a deferred bonus agreement with Jose Mas. For the three month periods ended March 31, 2014 and 2013, no payments were made in connection with the agreements for Jose Mas. As of March 31, 2014 and December 31, 2013, life insurance assets associated with these agreements of $10.1 million and $10.2 million, respectively, are included within other long-term assets in the condensed unaudited consolidated balance sheets. For additional information regarding the foregoing agreements with Jorge Mas and Jose Mas, see Note 17 - Related Party Transactions in the notes to the Company's consolidated financial statements included in its Annual Report on Form 10-K for the year ended December 31, 2013.