Equity

3 Months Ended

Mar. 31, 2021

Equity [Abstract]

Equity

Note 11 – Equity

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. There were no share repurchases under the Company’s share repurchase programs for the three month period ended March 31, 2021. For the three month period ended March 31, 2020, the Company repurchased 3.6 million shares of its common stock for an aggregate purchase price totaling approximately $119.4 million, of which 0.6 million shares were repurchased for $28.8 million under a $150 million share repurchase program that was completed in the first quarter of 2020, and 3.0 million shares of which were repurchased for $90.6 million under the Company’s December 2018 $100 million share repurchase program. As of March 31, 2021, $158.6 million was available for future share repurchases under all of the Company’s open share repurchase programs, which included $8.6 million under the Company’s December 2018 share repurchase program, and the full amount of the Company’s March 2020 $150 million share repurchase program.

Accumulated Other Comprehensive Loss

Unrealized foreign currency translation activity, net, for the three month periods ended March 31, 2021 and 2020 relates to the Company’s operations in Canada and Mexico. For the three month period ended March 31, 2021, unrealized investment activity includes unrealized gains on both the interest rate swaps associated with the Waha JVs and on the Company’s investment in AVCT convertible debentures. For the three month period ended March 31, 2020, unrealized losses on investment activity relates to the Waha JV swaps. See Note 4 - Fair Value of Financial Instruments for additional information pertaining to the Waha JV swaps and AVCT convertible debentures.