Related Party Transactions

3 Months Ended

Mar. 31, 2015

Related Party Transactions [Abstract]

Related Party Transactions

Note 16 - 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 the Company has a cost method investment of $15 million, resulting from its investment in CCP in 2013. Juan Carlos Mas, who is the brother of Jorge Mas, Chairman of MasTec’s Board of Directors, and José R. Mas, MasTec’s Chief Executive Officer, serves as the chairman of CCP. Additionally, an entity owned by Jorge, José and Juan Carlos Mas is a minority shareholder of CCP. For the three month periods ended March 31, 2015 and 2014, MasTec paid CCP approximately $1.7 million and $0.9 million, respectively, for equipment rentals, leases and servicing.

MasTec leases employees to a customer in which Jorge Mas and José R. Mas own a minority interest. For both the three month periods ended March 31, 2015 and 2014, MasTec charged approximately $0.2 million to this customer. As of both March 31, 2015 and December 31, 2014, outstanding receivables from employee leasing arrangements with this customer totaled $0.1 million. The Company also provides satellite communication services to this customer. For the three month periods ended March 31, 2015 and 2014, satellite communication revenue relating to this customer totaled approximately $0.2 million and $0.3 million, respectively. As of March 31, 2015 and December 31, 2014, outstanding receivables from this customer for satellite communication services totaled approximately $0.3 million and $0.5 million, respectively.

Split Dollar Agreements

MasTec has a split dollar agreement with José R. Mas. For the three month period ended March 31, 2015, the Company made no payments in connection with the agreement for José R. Mas. As of March 31, 2014, the Company had a split dollar agreement and a deferred bonus agreement with José R. Mas. There were no payments made in connection with these agreements for the three month period ended March 31, 2014. MasTec also 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, 2015 or 2014. As of both March 31, 2015 and December 31, 2014, life insurance assets associated with these agreements totaled $11.1 million, and were included within other long-term assets in the consolidated balance sheets. For additional information regarding the split dollar agreements with José and Jorge Mas, see Note 18 - Related Party Transactions in the notes to the Company’s audited consolidated financial statements included in its 2014 Form 10-K.