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Equity
3 Months Ended
Mar. 31, 2019
Equity [Abstract]  
Equity
Note 11Equity
Share Activity
The Company’s share repurchase programs provide for the repurchase of shares of MasTec common stock from time to time in open market transactions or in privately-negotiated transactions in accordance with applicable securities laws. The timing and the amount of any repurchases is determined based on market conditions, legal requirements, cash flow and liquidity needs and other factors. The Company’s share repurchase programs do not have an expiration date and may be modified or suspended at any time at the Company’s discretion. Share repurchases, which are recorded at cost and are held in the Company’s treasury, are funded with available cash or with availability under the Credit Facility. The Company may use either authorized and unissued shares or treasury shares to meet share issuance requirements.
During the three month periods ended March 31, 2019 and 2018, the Company repurchased shares of its common stock under several share repurchase programs. As of March 31, 2019, $128.8 million was available for future share repurchases under all of the Company’s open share repurchase programs.
Share repurchases totaled approximately $0.6 million for the three month period ended March 31, 2019. First quarter 2019 share repurchases were completed under the Company’s $150 million share repurchase program that was authorized in September 2018 (the “September 2018 Share Repurchase Program”). For the three month period ended March 31, 2018, the Company repurchased approximately 2.0 million shares for an aggregate purchase price of $98.4 million under a $100 million share repurchase program that was established in 2016 and completed in the first quarter of 2018. As of March 31, 2019, $28.8 million was available for future share repurchases under the September 2018 Share Repurchase Program, and for the Company’s $100 million share repurchase program that was authorized in December 2018, the full amount was available.
Accumulated Other Comprehensive Loss
Accumulated other comprehensive loss is composed of unrealized foreign currency gains and losses from fluctuations in foreign currency exchange rates of the Company’s foreign subsidiaries with a functional currency other than the U.S. dollar, as well as unrealized gains and losses from certain investment activities. Unrealized foreign currency activity for both the three month periods ended March 31, 2019 and 2018 were de minimis. Unrealized investment activity for both the three month periods ended March 31, 2019 and 2018 relates to unrealized gains and losses on interest rate swaps associated with the Waha JVs.