Supplemental Guarantor Condensed Unaudited Consolidating Financial Information (Tables)

3 Months Ended

Mar. 31, 2014

Condensed Unaudited Financial Statements, Supplemental Guarantor Information [Abstract]

Condensed Unaudited Consolidating Statements Of Operations And Comprehensive Income

CONDENSED UNAUDITED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (in millions)

For the Three Months Ended March 31, 2014	MasTec, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated MasTec, Inc.
Revenue	$	—		$	793.1		$	170.9		$	—		$	964.0
Costs of revenue, excluding depreciation and amortization	—			689.8			151.3			—			841.1
Depreciation and amortization	—			27.4			6.1			—			33.5
General and administrative expenses	0.6			47.3			5.4			—			53.3
Interest expense, net	—			11.7			0.3			—			12.0
Other (income) expense, net	—			(2.1		)	0.1			—			(2.0		)
(Loss) income from continuing operations before income taxes	$	(0.6	)	$	19.0		$	7.7		$	—		$	26.1
Benefit from (provision for) income taxes	0.2			(9.4		)	(0.7		)	—			(9.9		)
Net (loss) income from continuing operations	$	(0.4	)	$	9.6		$	7.0		$	—		$	16.2
Net loss from discontinued operations	—			—			(0.1		)	—			(0.1		)
Equity in income from subsidiaries, net of tax	16.4			—			—			(16.4		)	—
Net income (loss)	$	16.0		$	9.6		$	6.9		$	(16.4	)	$	16.1
Net income attributable to non-controlling interests	—			—			0.1			—			0.1
Net income (loss) attributable to MasTec, Inc.	$	16.0		$	9.6		$	6.8		$	(16.4	)	$	16.0
Comprehensive income (loss)	$	10.6		$	9.5		$	1.6		$	(11.0	)	$	10.7

For the Three Months Ended March 31, 2013	MasTec, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated MasTec, Inc.
Revenue	$	—		$	843.1		$	77.2		$	(1.7	)	$	918.6
Costs of revenue, excluding depreciation and amortization	—			721.2			72.0			(1.7		)	791.5
Depreciation and amortization	—			28.9			2.9			—			31.8
General and administrative expenses	0.3			45.1			3.5			—			48.9
Interest expense, net	—			10.0			—			—			10.0
Loss on extinguishment of debt	—			5.6			—			—			5.6
Other income, net	—			(0.9		)	—			—			(0.9		)
(Loss) income from continuing operations before income taxes	$	(0.3	)	$	33.2		$	(1.2	)	$	—		$	31.7
Benefit from (provision for) income taxes	0.1			(13.0		)	0.5			—			(12.4		)
Net (loss) income from continuing operations	$	(0.2	)	$	20.2		$	(0.7	)	$	—		$	19.3
Net loss from discontinued operations	—			—			(0.9		)	—			(0.9		)
Equity in income from subsidiaries, net of tax	18.8			—			—			(18.8		)	—
Net income (loss)	$	18.6		$	20.2		$	(1.6	)	$	(18.8	)	$	18.4
Net income attributable to non-controlling interests	—			—			0.0			—			0.0
Net income (loss) attributable to MasTec, Inc.	$	18.6		$	20.2		$	(1.6	)	$	(18.8	)	$	18.4
Comprehensive income (loss)	$	17.8		$	20.5		$	(2.5	)	$	(18.0	)	$	17.8

Condensed Unaudited Consolidating Balance Sheets

CONDENSED UNAUDITED CONSOLIDATING BALANCE SHEETS (in millions)

As of March 31, 2014	MasTec, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated MasTec, Inc.
Assets
Current assets, including discontinued operations	$	—	$	1,165.3	$	192.6		$	—		$	1,357.9
Property and equipment, net	—		435.9		73.7			—			509.6
Goodwill and other intangible assets, net	—		931.8		152.7			—			1,084.5
Net investments in and advances to (from) consolidated affiliates	1,022.5		173.9		(25.0		)	(1,171.4		)	—
Other long-term assets, including discontinued operations	9.3		36.9		15.2			—			61.4
Total assets	$	1,031.8	$	2,743.8	$	409.2		$	(1,171.4	)	$	3,013.4
Liabilities and Equity
Total current liabilities	$	—	$	735.7	$	84.7		$	—		$	820.4
Long-term debt	—		833.3		8.0			—			841.3
Other liabilities	—		236.7		78.2			—			314.9
Total liabilities	$	—	$	1,805.7	$	170.9		$	—		$	1,976.6
Total equity	$	1,031.8	$	938.1	$	238.3		$	(1,171.4	)	$	1,036.8
Total liabilities and equity	$	1,031.8	$	2,743.8	$	409.2		$	(1,171.4	)	$	3,013.4

As of December 31, 2013	MasTec, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated MasTec, Inc.
Assets
Current assets, including discontinued operations	$	—	$	1,155.9	$	150.3		$	—		$	1,306.2
Property and equipment, net	—		420.2		67.9			—			488.1
Goodwill and other intangible assets, net	—		933.9		132.2			—			1,066.1
Net investments in and advances to (from) consolidated affiliates	1,006.8		172.4		(24.1		)	(1,155.1		)	—
Other long-term assets, including discontinued operations	9.3		36.2		15.1			—			60.6
Total assets	$	1,016.1	$	2,718.6	$	341.4		$	(1,155.1	)	$	2,921.0
Liabilities and Equity
Total current liabilities	$	—	$	773.3	$	53.4		$	—		$	826.7
Long-term debt	—		760.9		4.5			—			765.4
Other liabilities	—		236.7		71.1			—			307.8
Total liabilities	$	—	$	1,770.9	$	129.0		$	—		$	1,899.9
Total equity	$	1,016.1	$	947.7	$	212.4		$	(1,155.1	)	$	1,021.1
Total liabilities and equity	$	1,016.1	$	2,718.6	$	341.4		$	(1,155.1	)	$	2,921.0

Condensed Unaudited Consolidating Statements Of Cash Flows

CONDENSED UNAUDITED CONSOLIDATING STATEMENTS OF CASH FLOWS (in millions)

For the Three Months Ended March 31, 2014	MasTec, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated MasTec, Inc.
Net cash (used in) provided by operating activities	$	(0.3	)	$	15.2		$	(35.3	)	$	—	$	(20.4	)
Cash flows (used in) provided by investing activities:
Cash paid for acquisitions, net of cash acquired	—			(23.8		)	—			—		(23.8		)
Capital expenditures	—			(32.6		)	(3.0		)	—		(35.6		)
Proceeds from sale of property and equipment	—			3.4			—			—		3.4
Payments for other investments	—			(1.1		)	—			—		(1.1		)
Net cash used in investing activities	$	—		$	(54.1	)	$	(3.0	)	$	—	$	(57.1	)
Cash flows provided by (used in) financing activities:
Proceeds from (repayments of) credit facility	—			76.5			—			—		76.5
Repayments of other borrowings and capital lease obligations	—			(12.9		)	(0.9		)	—		(13.8		)
Excess tax benefits and net proceeds from stock-based awards	1.1			0.7			—			—		1.8
Payments of financing costs	—			(0.2		)	—			—		(0.2		)
Net financing activities and advances (to) from consolidated affiliates	(0.8		)	(24.7		)	25.5			—		—
Net cash provided by financing activities	$	0.3		$	39.4		$	24.6		$	—	$	64.3
Net increase (decrease) in cash and cash equivalents	—			0.5			(13.7		)	—		(13.2		)
Net effect of currency translation on cash	—			—			(0.5		)	—		(0.5		)
Cash and cash equivalents - beginning of period	—			5.3			17.7			—		23.0
Cash and cash equivalents - end of period	$	—		$	5.8		$	3.5		$	—	$	9.3
Cash and cash equivalents of discontinued operations	$	—		$	—		$	—		$	—	$	—
Cash and cash equivalents of continuing operations	$	—		$	5.8		$	3.5		$	—	$	9.3

For the Three Months Ended March 31, 2013	MasTec, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated MasTec, Inc.
Net cash (used in) provided by operating activities	$	(0.6	)	$	50.3		$	(23.6	)	$	—	$	26.1
Cash flows (used in) provided by investing activities:
Cash paid for acquisitions, net of cash acquired	—			(4.7		)	—			—		(4.7		)
Capital expenditures	—			(25.4		)	(0.4		)	—		(25.8		)
Proceeds from sale of property and equipment	—			3.4			—			—		3.4
Net cash used in investing activities	$	—		$	(26.7	)	$	(0.4	)	$	—	$	(27.1	)
Cash flows provided by (used in) financing activities:
(Repayments of) proceeds from credit facility	$	—		$	(134.0	)	$	—		$	—	$	(134.0	)
Proceeds from senior notes, net	—			250.0			—			—		250.0
Repayments of other borrowings and capital lease obligations	—			(19.1		)	—			—		(19.1		)
Excess tax benefits and net proceeds from stock-based awards	2.8			0.7			—			—		3.5
Payments of acquisition-related contingent consideration	—			(5.0		)	—			—		(5.0		)
Payments of financing costs, including call premiums on extinguishment of debt	—			(11.0		)	—			—		(11.0		)
Net financing activities and advances (to) from consolidated affiliates	(2.2		)	(12.9		)	15.1			—		—
Net cash provided by financing activities	$	0.6		$	68.7		$	15.1		$	—	$	84.4
Net increase (decrease) in cash and cash equivalents	—			92.3			(8.9		)	—		83.4
Net effect of currency translation on cash	—			(0.1		)	—			—		(0.1		)
Cash and cash equivalents - beginning of period	—			12.7			14.1			—		26.8
Cash and cash equivalents - end of period	$	—		$	104.9		$	5.2		$	—	$	110.1
Cash and cash equivalents of discontinued operations	$	—		$	—		$	0.9		$	—	$	0.9
Cash and cash equivalents of continuing operations	$	—		$	104.9		$	4.3		$	—	$	109.2