Supplemental Guarantor Financial Information (Tables)

12 Months Ended

Dec. 31, 2019

Condensed Financial Statements, Supplemental Guarantor Information [Abstract]

Condensed Consolidating Statements of Operations and Comprehensive Income (Loss)

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

For the Year Ended December 31, 2019	MasTec, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated MasTec, Inc.
Revenue	$	—		$	6,799.4		$	474.7		$	(90.9	)	$	7,183.2
Costs of revenue, excluding depreciation and amortization	—			5,703.4			457.7			(90.9		)	6,070.2
Depreciation and amortization	—			214.0			21.5			—			235.5
Intangible asset impairment	—			—			3.3			—			3.3
General and administrative expenses	3.2			279.4			16.9			—			299.5
Interest expense (income), net	—			138.4			(61.4		)	—			77.0
Equity in earnings of unconsolidated affiliates	—			(0.0		)	(27.4		)	—			(27.4		)
Other expense (income), net	—			51.4			(37.3		)	—			14.0
(Loss) income before income taxes	$	(3.2	)	$	412.8		$	101.4		$	—		$	510.9
Benefit from (provision for) income taxes	0.8			(111.5		)	(6.1		)	—			(116.8		)
Net (loss) income before equity in income from subsidiaries	$	(2.4	)	$	301.3		$	95.3		$	—		$	394.1
Equity in income from subsidiaries, net of tax	394.7			—			—			(394.7		)	—
Net income (loss)	$	392.3		$	301.3		$	95.3		$	(394.7	)	$	394.1
Net income attributable to non-controlling interests	—			—			1.8			—			1.8
Net income (loss) attributable to MasTec, Inc.	$	392.3		$	301.3		$	93.5		$	(394.7	)	$	392.3
Comprehensive income (loss)	$	379.7		$	303.3		$	77.9		$	(382.1	)	$	378.9

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

For the Year Ended December 31, 2018	MasTec, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated MasTec, Inc.
Revenue	$	—		$	6,539.3		$	492.6		$	(122.5	)	$	6,909.4
Costs of revenue, excluding depreciation and amortization	—			5,609.4			452.4			(122.5		)	5,939.3
Depreciation and amortization	—			190.5			22.4			—			212.9
Goodwill impairment	—			—			47.7			—			47.7
General and administrative expenses	3.1			266.4			17.8			—			287.3
Interest expense (income), net	—			147.0			(64.4		)	—			82.6
Equity in earnings of unconsolidated affiliates	—			—			(23.9		)	—			(23.9		)
Other expense (income), net	—			2.9			(4.7		)	—			(1.8		)
(Loss) income before income taxes	$	(3.1	)	$	323.1		$	45.3		$	—		$	365.3
Benefit from (provision for) income taxes	0.9			(94.2		)	(12.8		)	—			(106.1		)
Net (loss) income before equity in income from subsidiaries	$	(2.2	)	$	228.9		$	32.5		$	—		$	259.2
Equity in income from subsidiaries, net of tax	261.9			—			—			(261.9		)	—
Net income (loss)	$	259.7		$	228.9		$	32.5		$	(261.9	)	$	259.2
Net loss attributable to non-controlling interests	—			—			(0.4		)	—			(0.4		)
Net income (loss) attributable to MasTec, Inc.	$	259.7		$	228.9		$	32.9		$	(261.9	)	$	259.7
Comprehensive income (loss)	$	262.9		$	228.9		$	35.7		$	(265.1	)	$	262.4

For the Year Ended December 31, 2017	MasTec, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated MasTec, Inc.
Revenue	$	—		$	6,222.3		$	457.0		$	(72.3	)	$	6,607.0
Costs of revenue, excluding depreciation and amortization	—			5,378.6			439.0			(72.3		)	5,745.3
Depreciation and amortization	—			159.1			28.9			—			188.0
General and administrative expenses	2.3			256.3			16.5			—			275.1
Interest expense (income), net	—			123.6			(62.6		)	—			61.0
Equity in earnings of unconsolidated affiliates	—			—			(21.3		)	—			(21.3		)
Other income, net	—			(13.0		)	—			—			(13.0		)
(Loss) income before income taxes	$	(2.3	)	$	317.7		$	56.5		$	—		$	371.8
Benefit from (provision for) income taxes	0.2			(18.1		)	(5.0		)	—			(22.9		)
Net (loss) income before equity in income from subsidiaries	$	(2.1	)	$	299.6		$	51.5		$	—		$	348.9
Equity in income from subsidiaries, net of tax	349.3			—			—			(349.3		)	—
Net income (loss)	$	347.2		$	299.6		$	51.5		$	(349.3	)	$	348.9
Net income (loss) attributable to non-controlling interests	—			2.4			(0.7		)	—			1.7
Net income (loss) attributable to MasTec, Inc.	$	347.2		$	297.2		$	52.2		$	(349.3	)	$	347.2
Comprehensive income (loss)	$	349.3		$	299.6		$	53.6		$	(351.4	)	$	351.0

Condensed Consolidating Balance Sheets

CONDENSED CONSOLIDATING BALANCE SHEETS (in millions)

As of December 31, 2019	MasTec, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated MasTec, Inc.
Assets
Total current assets	$	—	$	1,987.8	$	248.1	$	(62.4	)	$	2,173.6
Property and equipment, net	—		862.0		43.9		—			905.8
Operating lease assets	—		214.7		15.2		—			229.9
Goodwill and other intangible assets, net	—		1,265.6		167.3		—			1,433.0
Investments in and advances to consolidated affiliates, net	1,768.9		1,233.5		—		(3,002.4		)	—
Other long-term assets	18.4		42.6		193.8		—			254.7
Total assets	$	1,787.3	$	5,606.2	$	668.3	$	(3,064.8	)	$	4,997.0
Liabilities and equity
Total current liabilities	$	0.1	$	1,141.6	$	139.8	$	(62.4	)	$	1,219.1
Long-term debt, including finance leases	—		1,310.9		3.1		—			1,314.0
Advances from consolidated affiliates, net	—		—		167.5		(167.5		)	—
Long-term operating lease liabilities	—		143.0		11.6		—			154.6
Other long-term liabilities	—		493.1		24.5		—			517.6
Total liabilities	$	0.1	$	3,088.6	$	346.5	$	(229.9	)	$	3,205.3
Total equity	$	1,787.2	$	2,517.6	$	321.8	$	(2,834.9	)	$	1,791.7
Total liabilities and equity	$	1,787.3	$	5,606.2	$	668.3	$	(3,064.8	)	$	4,997.0

As of December 31, 2018	MasTec, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated MasTec, Inc.
Assets
Total current assets	$	—	$	1,993.0	$	248.5	$	(72.5	)	$	2,169.0
Property and equipment, net	—		699.2		48.6		—			747.8
Goodwill and other intangible assets, net	—		1,188.0		81.7		—			1,269.7
Investments in and advances to consolidated affiliates, net	1,373.1		1,138.4		816.9		(3,328.4		)	—
Other long-term assets	16.8		42.0		194.6		—			253.4
Total assets	$	1,389.9	$	5,060.6	$	1,390.3	$	(3,400.9	)	$	4,440.0
Liabilities and equity
Total current liabilities	$	—	$	1,185.9	$	170.2	$	(72.5	)	$	1,283.6
Long-term debt, including finance leases	—		1,319.4		4.9		—			1,324.2
Other long-term liabilities	—		429.2		10.8		—			440.1
Total liabilities	$	—	$	2,934.5	$	185.9	$	(72.5	)	$	3,047.9
Total equity	$	1,389.9	$	2,126.1	$	1,204.4	$	(3,328.4	)	$	1,392.0
Total liabilities and equity	$	1,389.9	$	5,060.6	$	1,390.3	$	(3,400.9	)	$	4,440.0

Condensed Consolidating Statements of Cash Flows

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS (in millions)

For the Year Ended December 31, 2019	MasTec, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated MasTec, Inc.
Net cash provided by operating activities	$	—		$	467.2		$	83.1		$	—	$	550.3
Cash flows from investing activities:
Cash paid for acquisitions, net of cash acquired	—			(179.5		)	—			—		(179.5		)
Capital expenditures	—			(120.8		)	(5.7		)	—		(126.5		)
Proceeds from sale of property and equipment	—			24.8			10.2			—		35.0
Payments for other investments	—			(4.3		)	(1.3		)	—		(5.6		)
Proceeds from other investments	—			10.8			3.9			—		14.7
Net cash (used in) provided by investing activities	$	—		$	(269.0	)	$	7.1		$	—	$	(261.8	)
Cash flows from financing activities:
Proceeds from credit facilities	—			3,015.3			10.6			—		3,025.9
Repayments of credit facilities	—			(3,116.0		)	(10.6		)	—		(3,126.6		)
Repayments of other borrowings, net	—			(9.7		)	(2.7		)	—		(12.4		)
Payments of finance lease obligations	—			(86.3		)	(2.0		)	—		(88.3		)
Payments of acquisition-related contingent consideration	—			(34.3		)	—			—		(34.3		)
Proceeds from non-controlling interests	—			—			0.6			—		0.6
Proceeds from stock-based awards	4.7			—			—			—		4.7
Repurchase of common stock	(5.7		)	—			—			—		(5.7		)
Other financing activities, net	—			(5.5		)	(3.0		)	—		(8.5		)
Net financing activities and advances from (to) consolidated affiliates	1.0			62.8			(63.8		)	—		—
Net cash used in financing activities	$	—		$	(173.7	)	$	(70.9	)	$	—	$	(244.6	)
Effect of currency translation on cash	—			—			0.2			—		0.2
Net increase in cash and cash equivalents	$	—		$	24.5		$	19.5		$	—	$	44.0
Cash and cash equivalents - beginning of period	—			11.9			15.6			—		27.4
Cash and cash equivalents - end of period	$	—		$	36.4		$	35.1		$	—	$	71.4

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS (in millions)

For the Year Ended December 31, 2018	MasTec, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated MasTec, Inc.
Net cash provided by operating activities	$	—		$	341.6		$	188.4		$	—	$	530.0
Cash flows from investing activities:
Cash paid for acquisitions, net of cash acquired	—			(6.7		)	—			—		(6.7		)
Capital expenditures	—			(174.3		)	(6.1		)	—		(180.4		)
Proceeds from sale of property and equipment	—			26.2			13.1			—		39.4
Payments for other investments	—			(11.8		)	(27.6		)	—		(39.5		)
Proceeds from other investments	—			—			5.4			—		5.4
Net cash used in investing activities	$	—		$	(166.6	)	$	(15.2	)	$	—	$	(181.8	)
Cash flows from financing activities:
Proceeds from credit facilities	—			3,383.9			34.3			—		3,418.2
Repayments of credit facilities	—			(3,314.8		)	(44.7		)	—		(3,359.5		)
Repayments of other borrowings, net	—			(17.1		)	(0.3		)	—		(17.4		)
Payments of finance lease obligations	—			(66.6		)	(5.6		)	—		(72.2		)
Payments of acquisition-related contingent consideration	—			(15.9		)	—			—		(15.9		)
Distributions to non-controlling interests	—			(0.6		)	—			—		(0.6		)
Proceeds from stock-based awards	4.0			—			—			—		4.0
Payments for stock-based awards	(3.8		)	—			—			—		(3.8		)
Repurchase of common stock	(313.9		)	—			—			—		(313.9		)
Other financing activities, net	—			—			—			—		—
Net financing activities and advances from (to) consolidated affiliates	313.7			(142.1		)	(171.6		)	—		—
Net cash used in financing activities	$	—		$	(173.2	)	$	(187.9	)	$	—	$	(361.1	)
Effect of currency translation on cash	—			—			—			—		—
Net increase (decrease) in cash and cash equivalents	$	—		$	1.8		$	(14.7	)	$	—	$	(12.9	)
Cash and cash equivalents - beginning of period	—			10.1			30.3			—		40.3
Cash and cash equivalents - end of period	$	—		$	11.9		$	15.6		$	—	$	27.4

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS (in millions)

For the Year Ended December 31, 2017	MasTec, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated MasTec, Inc.
Net cash provided by operating activities	$	—		$	142.9		$	1.2		$	—	$	144.1
Cash flows from investing activities:
Cash paid for acquisitions, net of cash acquired	—			(116.0		)	—			—		(116.0		)
Capital expenditures	—			(120.1		)	(3.3		)	—		(123.4		)
Proceeds from sale of property and equipment	—			18.2			1.8			—		20.0
Payments for other investments	—			(3.8		)	(73.3		)	—		(77.1		)
Proceeds from other investments	—			1.2			22.6			—		23.8
Net cash used in investing activities	$	—		$	(220.5	)	$	(52.2	)	$	—	$	(272.7	)
Cash flows from financing activities:
Proceeds from credit facilities	—			2,674.4			24.6			—		2,699.0
Repayments of credit facilities	—			(2,428.9		)	(28.4		)	—		(2,457.3		)
Repayments of other borrowings, net	—			(2.3		)	(1.1		)	—		(3.4		)
Payments of finance lease obligation	—			(59.2		)	(8.5		)	—		(67.7		)
Payments of acquisition-related contingent consideration	—			(6.6		)	—			—		(6.7		)
Distributions to non-controlling interests	—			(22.7		)	—			—		(22.7		)
Proceeds from stock-based awards	3.1			—			—			—		3.1
Payments for stock-based awards	(6.2		)	—			—			—		(6.2		)
Repurchase of common stock	(1.6		)	—			—			—		(1.6		)
Other financing activities, net	—			(6.3		)	—			—		(6.3		)
Net financing activities and advances from (to) consolidated affiliates	4.7			(89.6		)	84.9			—		—
Net cash provided by financing activities	$	—		$	58.8		$	71.5		$	—	$	130.3
Effect of currency translation on cash	—			—			(0.1		)	—		(0.1		)
Net (decrease) increase in cash and cash equivalents	$	—		$	(18.8	)	$	20.4		$	—	$	1.6
Cash and cash equivalents - beginning of period	—			28.9			9.9			—		38.8
Cash and cash equivalents - end of period	$	—		$	10.1		$	30.3		$	—	$	40.3