XML 56 R39.htm IDEA: XBRL DOCUMENT v3.3.1.900
Segments and Related Information (Tables)
 12 Months Ended
Dec. 31, 2015
Segment Reporting [Abstract]  
Schedule of Financial Information by Reportable Segment
Summarized financial information for MasTec’s reportable segments is presented and reconciled to consolidated financial information for total MasTec in the following tables (in millions):
 
For the Years Ended December 31,
Revenue:
2015
 
2014
 
2013
Communications (a)
$
1,973.2

 
$
2,041.0

 
$
1,962.6

Oil and Gas
1,495.1

 
1,731.4

 
1,628.8

Electrical Transmission
341.5

 
471.9

 
428.8

Power Generation and Industrial
381.6

 
357.0

 
294.3

Other
24.1

 
14.7

 
12.3

Eliminations
(7.2
)
 
(4.2
)
 
(2.0
)
Consolidated revenue
$
4,208.3

 
$
4,611.8

 
$
4,324.8

(a)
Revenue generated primarily by utilities customers represented 10.6%, 6.8% and 6.9% of Communications segment revenue for the years ended December 31, 2015, 2014 and 2013, respectively.
 
For the Years Ended December 31,
EBITDA - Continuing Operations:
2015
 
2014
 
2013
Communications
$
194.8

 
$
204.0

 
$
247.7

Oil and Gas (a)
157.0

 
195.1

 
215.9

Electrical Transmission
(71.3
)
 
45.0

 
41.2

Power Generation and Industrial
8.8

 
14.2

 
(16.3
)
Other (b)
(18.8
)
 
(1.2
)
 
0.5

Corporate (c)
(120.5
)
 
(53.4
)
 
(61.4
)
Consolidated EBITDA - Continuing operations
$
150.0

 
$
403.7

 
$
427.6

(a)
Oil and Gas EBITDA includes equity in losses from unconsolidated affiliates of $3.6 million and $0.3 million for the years ended December 31, 2015 and 2014, respectively.
(b)
Other EBITDA includes equity in losses from unconsolidated affiliates of $4.4 million for the year ended December 31, 2015.
(c)
Corporate EBITDA includes goodwill and intangible asset impairment of $78.6 million for the year ended December 31, 2015.
 
For the Years Ended December 31,
Depreciation and Amortization:
2015
 
2014
 
2013
Communications
$
50.6

 
$
42.6

 
$
36.8

Oil and Gas
84.5

 
82.8

 
80.9

Electrical Transmission
21.1

 
17.1

 
12.6

Power Generation and Industrial
6.6

 
6.4

 
6.7

Other
0.1

 
—

 
—

Corporate
6.8

 
5.6

 
3.9

Consolidated depreciation and amortization
$
169.7

 
$
154.5

 
$
140.9


 
As of December 31,
Assets:
2015
 
2014
 
2013 (a)
Communications
$
1,032.2

 
$
1,197.4

 
$
973.5

Oil and Gas (b)
1,131.4

 
1,389.5

 
1,060.8

Electrical Transmission
409.1

 
489.5

 
449.3

Power Generation and Industrial
252.5

 
340.1

 
324.5

Other
34.3

 
24.6

 
22.8

Corporate
80.7

 
122.9

 
79.8

Consolidated segment assets
$
2,940.2

 
$
3,564.0

 
$
2,910.7

(a)
Consolidated total assets were $2,923.2 million as of December 31, 2013, including assets of discontinued operations of $12.5 million.
(b)
Includes $1.7 million and $2.7 million, net, of investments in equity method investees as of December 31, 2015 and 2014, respectively.
 
For the Years Ended December 31,
Capital Expenditures:
2015
 
2014
 
2013
Communications
$
25.8

 
$
23.4

 
$
25.1

Oil and Gas
38.1

 
44.2

 
67.4

Electrical Transmission
13.0

 
25.8

 
17.6

Power Generation and Industrial
3.5

 
6.7

 
5.7

Other
0.2

 
—

 
—

Corporate
3.8

 
9.2

 
10.3

Consolidated capital expenditures
$
84.4

 
$
109.3

 
$
126.1
Reconciliation of EBITDA to Consolidated (Loss) Income from Continuing Operations before Income Taxes
The following table presents a reconciliation of EBITDA to consolidated (loss) income from continuing operations before income taxes:
 
For the Years Ended December 31,
EBITDA Reconciliation:
2015
 
2014
 
2013
EBITDA - Continuing operations
$
150.0

 
$
403.7

 
$
427.6

Less:
 
 
 
 
 
Interest expense, net
(48.1
)
 
(50.8
)
 
(46.4
)
Depreciation and amortization
(169.7
)
 
(154.5
)
 
(140.9
)
(Loss) income from continuing operations before income taxes
$
(67.7
)
 
$
198.4

 
$
240.2
Schedule of Significant Customers, Revenue Concentration Information
Revenue concentration information for significant customers as a percentage of total consolidated revenue was as follows:
 
For the Years Ended December 31,
 
2015
 
2014
 
2013
Customer:
 
 
 
 
 
AT&T (including DIRECTV®) (a)(b)
32%
 
33%
 
32%
Enbridge, Inc. (c)
1%
 
8%
 
18%

(a)
The Company’s relationship with AT&T is based upon multiple separate master service agreements, other service agreements and construction/installation contracts for AT&T’s (i) wireless, (ii) wireline/fiber, (iii) home security and automation businesses, and (iv) for DIRECTV® services, is based upon an agreement to provide installation and maintenance services. Revenue from AT&T is included in the Communications segment.
(b)
DIRECTV® was acquired by AT&T in July 2015. Revenue from DIRECTV® is presented on a combined basis with AT&T for all periods.
(c)
The Company's relationship with Enbridge, Inc. is based upon various construction contracts for pipeline activities. Revenue from Enbridge, Inc. is primarily included in the Oil and Gas segment.