Supplemental Guarantor Financial Information (Tables)

3 Months Ended

Mar. 31, 2016

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



For the Three Months Ended March 31, 2016	MasTec, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated MasTec, Inc.
Revenue	$	—		$	878.1		$	96.1		$	—	$	974.2
Costs of revenue, excluding depreciation and amortization	—			777.2			107.2			—		884.4
Depreciation and amortization	—			31.3			7.7			—		39.0
General and administrative expenses	0.6			50.0			9.4			—		60.0
Interest expense (income), net	—			27.4			(15.2		)	—		12.2
Equity in earnings of unconsolidated affiliates	—			—			(3.1		)	—		(3.1		)
Other income, net	—			(11.3		)	(2.1		)	—		(13.4		)
Loss (income) before income taxes	$	(0.6	)	$	3.4		$	(7.8	)	$	—	$	(5.0	)
Benefit from (provision for) income taxes	0.2			(1.3		)	3.2			—		2.1
Net loss (income) before equity in losses from subsidiaries	$	(0.4	)	$	2.1		$	(4.6	)	$	—	$	(2.9	)
Equity in losses from subsidiaries, net of tax	(2.3		)	—			—			2.3		—
Net (loss) income	$	(2.7	)	$	2.1		$	(4.6	)	$	2.3	$	(2.9	)
Net loss attributable to non-controlling interests	—			—			(0.2		)	—		(0.2		)
Net (loss) income attributable to MasTec, Inc.	$	(2.7	)	$	2.1		$	(4.4	)	$	2.3	$	(2.7	)
Comprehensive (loss) income	$	(5.1	)	$	2.1		$	(7.0	)	$	4.7	$	(5.3	)



For the Three Months Ended March 31, 2015	MasTec, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated MasTec, Inc.
Revenue	$	—		$	803.0		$	201.7		$	(1.4	)	$	1,003.3
Costs of revenue, excluding depreciation and amortization	—			682.7			205.1			(1.4		)	886.4
Depreciation and amortization	—			32.3			10.3			—			42.6
General and administrative expenses	0.6			66.2			7.2			—			74.0
Interest expense (income), net	—			27.1			(16.1		)	—			11.0
Equity in losses of unconsolidated affiliates	—			—			0.6			—			0.6
Other (income) expense, net	—			(0.9		)	0.3			—			(0.6		)
Loss before income taxes	$	(0.6	)	$	(4.4	)	$	(5.7	)	$	—		$	(10.7	)
Benefit from income taxes	0.2			1.7			2.4			—			4.4
Net loss before equity in losses from subsidiaries	$	(0.4	)	$	(2.7	)	$	(3.3	)	$	—		$	(6.4	)
Equity in losses from subsidiaries, net of tax	(5.9		)	—			—			5.9			—
Net (loss) income	$	(6.3	)	$	(2.7	)	$	(3.3	)	$	5.9		$	(6.4	)
Net loss attributable to non-controlling interests	—			—			(0.1		)	—			(0.1		)
Net (loss) income attributable to MasTec, Inc.	$	(6.3	)	$	(2.7	)	$	(3.2	)	$	5.9		$	(6.3	)
Comprehensive (loss) income	$	(28.3	)	$	(2.7	)	$	(25.4	)	$	28.0		$	(28.4	)

CONDENSED UNAUDITED CONSOLIDATING BALANCE SHEETS (in millions)



As of March 31, 2016	MasTec, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated MasTec, Inc.
Assets
Current assets	$	—	$	1,017.8	$	180.7	$	—		$	1,198.5
Property and equipment, net	—		437.9		110.0		—			548.0
Goodwill and other intangible assets, net	—		1,043.4		146.1		—			1,189.5
Investments in and advances to consolidated affiliates, net	931.0		78.9		76.0		(1,085.9		)	—
Other long-term assets	9.3		19.6		21.8		—			50.7
Total assets	$	940.3	$	2,597.6	$	534.6	$	(1,085.9	)	$	2,986.6
Liabilities and equity
Total current liabilities	$	—	$	679.0	$	132.7	$	—		$	811.7
Long-term debt	—		909.3		29.4		—			938.7
Other long-term liabilities	—		257.4		34.9		—			292.3
Total liabilities	$	—	$	1,845.7	$	197.0	$	—		$	2,042.8
Total equity	$	940.3	$	751.9	$	337.6	$	(1,085.9	)	$	943.9
Total liabilities and equity	$	940.3	$	2,597.6	$	534.6	$	(1,085.9	)	$	2,986.6



As of December 31, 2015	MasTec, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated MasTec, Inc.
Assets
Current assets	$	—	$	927.4	$	202.4	$	—		$	1,129.8
Property and equipment, net	—		448.2		110.5		—			558.7
Goodwill and other intangible assets, net	—		1,047.4		140.5		—			1,187.9
Investments in and advances to consolidated affiliates, net	930.3		103.7		50.6		(1,084.6		)	—
Other long-term assets	9.3		24.4		17.3		—			51.0
Total assets	$	939.6	$	2,551.1	$	521.3	$	(1,084.6	)	$	2,927.3
Liabilities and equity
Total current liabilities	$	—	$	632.9	$	119.6	$	—		$	752.5
Long-term debt	—		900.1		32.8		—			932.9
Other long-term liabilities	—		275.5		23.0		—			298.5
Total liabilities	$	—	$	1,808.5	$	175.4	$	—		$	1,984.0
Total equity	$	939.6	$	742.5	$	345.9	$	(1,084.6	)	$	943.4
Total liabilities and equity	$	939.6	$	2,551.0	$	521.3	$	(1,084.6	)	$	2,927.3

CONDENSED UNAUDITED CONSOLIDATING STATEMENTS OF CASH FLOWS (in millions)



For the Three Months Ended March 31, 2016	MasTec, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated MasTec, Inc.
Net cash (used in) provided by operating activities	$	—		$	(5.3	)	$	21.2		$	—	$	15.9
Cash flows (used in) provided by investing activities:
Capital expenditures	—			(12.2		)	(1.1		)	—		(13.3		)
Proceeds from sale of property and equipment	—			1.5			0.7			—		2.2
Payments for other investments	—			—			(1.5		)	—		(1.5		)
Net cash used in investing activities	$	—		$	(10.7	)	$	(1.9	)	$	—	$	(12.6	)
Cash flows provided by (used in) financing activities:
Proceeds from credit facilities	—			286.8			48.9			—		335.7
Repayments of credit facilities	—			(270.5		)	(50.2		)	—		(320.7		)
Repayments of other borrowings and capital lease obligations	—			(16.3		)	(4.3		)	—		(20.6		)
Proceeds from stock-based awards, net of tax withholdings	2.0			(0.2		)	—			—		1.8
Excess tax benefit from stock-based compensation	—			0.2			—			—		0.2
Net financing activities and advances from (to) consolidated affiliates	(2.0		)	13.6			(11.6		)	—		—
Net cash provided by (used in) financing activities	$	—		$	13.6		$	(17.2	)	$	—	$	(3.6	)
Effect of currency translation on cash	—			—			(0.7		)	—		(0.7		)
Net (decrease) increase in cash and cash equivalents	$	—		$	(2.5	)	$	1.4		$	—	$	(1.1	)
Cash and cash equivalents - beginning of period	—			4.7			0.3			—		5.0
Cash and cash equivalents - end of period	$	—		$	2.2		$	1.7		$	—	$	3.9



For the Three Months Ended March 31, 2015	MasTec, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated MasTec, Inc.
Net cash (used in) provided by operating activities	$	(0.4	)	$	175.9		$	(56.7	)	$	—	$	118.8
Cash flows (used in) provided by investing activities:
Cash paid for acquisitions, net of cash acquired	—			(0.1		)	—			—		(0.1		)
Capital expenditures	—			(17.9		)	(1.8		)	—		(19.7		)
Proceeds from sale of property and equipment	—			1.2			0.2			—		1.4
Payments for other investments	$	—		$	(32.0	)	$	—		$	—	$	(32.0	)
Net cash used in investing activities	$	—		$	(48.8	)	$	(1.6	)	$	—	$	(50.4	)
Cash flows provided by (used in) financing activities:
Proceeds from credit facilities	$	—		$	251.0		$	188.5		$	—	$	439.5
Repayments of credit facilities	—			(224.7		)	(180.1		)	—		(404.8		)
Repayments of other borrowings and capital lease obligations	—			(10.7		)	(4.4		)	—		(15.1		)
Repurchase of common stock	(83.3		)	—			—			—		(83.3		)
Proceeds from stock-based awards, net of tax withholdings	1.1			(0.2		)	—			—		0.9
Net financing activities and advances from (to) consolidated affiliates	82.6			(135.7		)	53.1			—		—
Net cash provided by (used in) financing activities	$	0.4		$	(120.3	)	$	57.1		$	—	$	(62.8	)
Effect of currency translation on cash	—			—			(1.0		)	—		(1.0		)
Net increase (decrease) in cash and cash equivalents	$	—		$	6.8		$	(2.2	)	$	—	$	4.6
Cash and cash equivalents - beginning of period	—			18.5			5.6			—		24.1
Cash and cash equivalents - end of period	$	—		$	25.3		$	3.4		$	—	$	28.7