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10-Q Filing

MASTEC INC CIK: 15615 Q1 2018
Filing Information
Form Type 10-Q
Accession Number 0000015615-18-000018
Period End Date 20180331
Filing Date 20180430
Fiscal Year 2018
Fiscal Period Q1
XBRL Instance mtz-20180331.xml
Filing Contents
Balance Sheet 84 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $15.69M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $40.33M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $38.77M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $40.23M USD Point-in-time
Accounts receivable, net (Note 5) AccountsReceivableNetCurrent $1.71B USD Point-in-time
Accounts receivable, net (Note 5) AccountsReceivableNetCurrent $1.60B USD Point-in-time
Inventories, net InventoryNet $76.99M USD Point-in-time
Inventories, net InventoryNet $80.48M USD Point-in-time
Prepaid expenses PrepaidExpenseCurrent $101.27M USD Point-in-time
Prepaid expenses PrepaidExpenseCurrent $54.08M USD Point-in-time
Other current assets OtherAssetsCurrent $35.76M USD Point-in-time
Other current assets OtherAssetsCurrent $27.67M USD Point-in-time
Total current assets AssetsCurrent $1.91B USD Point-in-time
Total current assets AssetsCurrent $1.85B USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $709.81M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $706.51M USD Point-in-time
Preferred stock, par value (in dollars per share) PreferredStockParOrStatedValuePerShare $1.00 USD Point-in-time
Preferred stock, par value (in dollars per share) PreferredStockParOrStatedValuePerShare $1.00 USD Point-in-time
Preferred stock, shares authorized PreferredStockSharesAuthorized 5.00M shares Point-in-time
Preferred stock, shares authorized PreferredStockSharesAuthorized 5.00M shares Point-in-time
Goodwill, net Goodwill $1.15B USD Point-in-time
Goodwill, net Goodwill $1.14B USD Point-in-time
Preferred stock, shares issued PreferredStockSharesIssued 0.00 shares Point-in-time
Other intangible assets, net IntangibleAssetsNetExcludingGoodwill $191.14M USD Point-in-time
Preferred stock, shares issued PreferredStockSharesIssued 0.00 shares Point-in-time
Other intangible assets, net IntangibleAssetsNetExcludingGoodwill $187.44M USD Point-in-time
Other long-term assets OtherAssetsNoncurrent $204.07M USD Point-in-time
Preferred stock, shares outstanding PreferredStockSharesOutstanding 0.00 shares Point-in-time
Other long-term assets OtherAssetsNoncurrent $178.82M USD Point-in-time
Preferred stock, shares outstanding PreferredStockSharesOutstanding 0.00 shares Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.10 USD Point-in-time
Total assets Assets $4.07B USD Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.10 USD Point-in-time
Total assets Assets $4.15B USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 145.00M shares Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 145.00M shares Point-in-time
Common stock, shares issued CommonStockSharesIssued 91.06M shares Point-in-time
Common stock, shares issued CommonStockSharesIssued 90.94M shares Point-in-time
Current portion of long-term debt LongTermDebtAndCapitalLeaseObligationsCurrent $86.56M USD Point-in-time
Current portion of long-term debt LongTermDebtAndCapitalLeaseObligationsCurrent $87.87M USD Point-in-time
Treasury stock, shares TreasuryStockCommonShares 10.17M shares Point-in-time
Treasury stock, shares TreasuryStockCommonShares 8.13M shares Point-in-time
Accounts payable AccountsPayableCurrent $457.83M USD Point-in-time
Accounts payable AccountsPayableCurrent $377.95M USD Point-in-time
Accrued salaries and wages EmployeeRelatedLiabilitiesCurrent $89.09M USD Point-in-time
Accrued salaries and wages EmployeeRelatedLiabilitiesCurrent $78.12M USD Point-in-time
Other accrued expenses AccruedLiabilitiesCurrent $137.06M USD Point-in-time
Other accrued expenses AccruedLiabilitiesCurrent $148.97M USD Point-in-time
Billings in excess of costs and earnings BillingsInExcessOfCostCurrent $215.71M USD Point-in-time
Billings in excess of costs and earnings BillingsInExcessOfCostCurrent $194.49M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $72.06M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $65.45M USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.05B USD Point-in-time
Total current liabilities LiabilitiesCurrent $963.83M USD Point-in-time
Long-term debt LongTermDebtAndCapitalLeaseObligations $1.34B USD Point-in-time
Long-term debt LongTermDebtAndCapitalLeaseObligations $1.28B USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $197.28M USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $204.52M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $184.17M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $191.99M USD Point-in-time
Total liabilities Liabilities $2.63B USD Point-in-time
Total liabilities Liabilities $2.78B USD Point-in-time
Commitments and contingencies (Note 14) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Note 14) CommitmentsAndContingencies - USD Point-in-time
Preferred stock, $1.00 par value: authorized shares - 5,000,000; issued and outstanding shares none PreferredStockValue - USD Point-in-time
Preferred stock, $1.00 par value: authorized shares - 5,000,000; issued and outstanding shares none PreferredStockValue - USD Point-in-time
Common stock, $0.10 par value: authorized shares - 145,000,000; issued shares - 91,063,699 and 90,935,584 (including 1,523,484 and 1,421,041 of unvested stock awards) as of March 31, 2018 and December 31, 2017, respectively CommonStockValue $9.09M USD Point-in-time
Common stock, $0.10 par value: authorized shares - 145,000,000; issued shares - 91,063,699 and 90,935,584 (including 1,523,484 and 1,421,041 of unvested stock awards) as of March 31, 2018 and December 31, 2017, respectively CommonStockValue $9.11M USD Point-in-time
Capital surplus AdditionalPaidInCapitalCommonStock $779.45M USD Point-in-time
Capital surplus AdditionalPaidInCapitalCommonStock $775.39M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $885.28M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $857.15M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-63.71M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-56.52M USD Point-in-time
Treasury stock, at cost: 10,171,531 and 8,132,811 shares as of March 31, 2018 and December 31, 2017, respectively TreasuryStockCommonValue $147.12M USD Point-in-time
Treasury stock, at cost: 10,171,531 and 8,132,811 shares as of March 31, 2018 and December 31, 2017, respectively TreasuryStockCommonValue $245.57M USD Point-in-time
Total MasTec, Inc. shareholders equity StockholdersEquity $1.43B USD Point-in-time
Total MasTec, Inc. shareholders equity StockholdersEquity $1.37B USD Point-in-time
Non-controlling interests MinorityInterest $2.55M USD Point-in-time
Non-controlling interests MinorityInterest $2.46M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.37B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $1.43B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $4.15B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $4.07B USD Point-in-time
Income Statement 32 line items
Line Item Tag Value Unit Period
Revenue Revenues $1.40B USD 1 Quarter
Revenue Revenues $1.16B USD 1 Quarter
Costs of revenue, excluding depreciation and amortization CostOfServicesExcludingDepreciationDepletionAndAmortization $971.13M USD 1 Quarter
Costs of revenue, excluding depreciation and amortization CostOfServicesExcludingDepreciationDepletionAndAmortization $1.24B USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $49.94M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $42.90M USD 1 Quarter
General and administrative expenses GeneralAndAdministrativeExpense $63.62M USD 1 Quarter
General and administrative expenses GeneralAndAdministrativeExpense $64.78M USD 1 Quarter
Interest expense, net InterestRevenueExpenseNet $-12.60M USD 1 Quarter
Interest expense, net InterestRevenueExpenseNet $-17.06M USD 1 Quarter
Equity in earnings of unconsolidated affiliates IncomeLossFromEquityMethodInvestments $1.65M USD 1 Quarter
Equity in earnings of unconsolidated affiliates IncomeLossFromEquityMethodInvestments $5.58M USD 1 Quarter
Other (income) expense, net NonoperatingIncomeExpense $-429.00K USD 1 Quarter
Other (income) expense, net NonoperatingIncomeExpense $3.09M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $37.59M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $67.98M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $27.36M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $11.13M USD 1 Quarter
Net income ProfitLoss $26.46M USD 1 Quarter
Net income ProfitLoss $40.63M USD 1 Quarter
Net loss attributable to non-controlling interests NetIncomeLossAttributableToNoncontrollingInterest $-343.00K USD 1 Quarter
Net loss attributable to non-controlling interests NetIncomeLossAttributableToNoncontrollingInterest $-97.00K USD 1 Quarter
Net income attributable to MasTec, Inc. NetIncomeLoss $26.56M USD 1 Quarter
Net income attributable to MasTec, Inc. NetIncomeLoss $40.97M USD 1 Quarter
Basic earnings per share (in dollars per share) EarningsPerShareBasic $0.51 USD 1 Quarter
Basic earnings per share (in dollars per share) EarningsPerShareBasic $0.33 USD 1 Quarter
Basic weighted average common shares outstanding WeightedAverageNumberOfSharesOutstandingBasic 80.70M shares 1 Quarter
Basic weighted average common shares outstanding WeightedAverageNumberOfSharesOutstandingBasic 81.15M shares 1 Quarter
Diluted earnings per share (in dollars per share) EarningsPerShareDiluted $0.32 USD 1 Quarter
Diluted earnings per share (in dollars per share) EarningsPerShareDiluted $0.50 USD 1 Quarter
Diluted weighted average common shares outstanding WeightedAverageNumberOfDilutedSharesOutstanding 82.22M shares 1 Quarter
Diluted weighted average common shares outstanding WeightedAverageNumberOfDilutedSharesOutstanding 82.16M shares 1 Quarter
Cash Flow Statement 82 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $26.46M USD 1 Quarter
Net income ProfitLoss $40.63M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $49.94M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $42.90M USD 1 Quarter
Non-cash interest expense, net AmortizationOfFinancingCostsAndDiscounts $870.00K USD 1 Quarter
Non-cash interest expense, net AmortizationOfFinancingCostsAndDiscounts $725.00K USD 1 Quarter
Non-cash stock-based compensation expense AllocatedShareBasedCompensationExpense $3.18M USD 1 Quarter
Non-cash stock-based compensation expense AllocatedShareBasedCompensationExpense $3.77M USD 1 Quarter
(Benefit from) provision for deferred income taxes DeferredIncomeTaxExpenseBenefit $8.40M USD 1 Quarter
(Benefit from) provision for deferred income taxes DeferredIncomeTaxExpenseBenefit $-7.24M USD 1 Quarter
Equity in earnings of unconsolidated affiliates IncomeLossFromEquityMethodInvestments $1.65M USD 1 Quarter
Equity in earnings of unconsolidated affiliates IncomeLossFromEquityMethodInvestments $5.58M USD 1 Quarter
Gains on sales of assets, net, including fixed assets held-for-sale GainLossOnSalesOfAssetsAndAssetImpairmentCharges $2.76M USD 1 Quarter
Gains on sales of assets, net, including fixed assets held-for-sale GainLossOnSalesOfAssetsAndAssetImpairmentCharges $57.00K USD 1 Quarter
Other non-cash items, net OtherNoncashIncomeExpense $-288.00K USD 1 Quarter
Other non-cash items, net OtherNoncashIncomeExpense $-544.00K USD 1 Quarter
Accounts receivable, net IncreaseDecreaseInAccountsReceivable $-73.72M USD 1 Quarter
Accounts receivable, net IncreaseDecreaseInAccountsReceivable $97.24M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-21.40M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $651.00K USD 1 Quarter
Other assets, current and long-term portion IncreaseDecreaseInOtherOperatingAssets $-55.03M USD 1 Quarter
Other assets, current and long-term portion IncreaseDecreaseInOtherOperatingAssets $-2.19M USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-74.12M USD 1 Quarter
Accounts payable and accrued expenses IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $26.35M USD 1 Quarter
Billings in excess of costs and earnings IncreaseDecreaseInBillingInExcessOfCostOfEarnings $19.61M USD 1 Quarter
Billings in excess of costs and earnings IncreaseDecreaseInBillingInExcessOfCostOfEarnings $16.89M USD 1 Quarter
Book overdrafts IncreaseDecreaseInBookOverdrafts $-2.19M USD 1 Quarter
Book overdrafts IncreaseDecreaseInBookOverdrafts $6.12M USD 1 Quarter
Other liabilities, current and long-term portion IncreaseDecreaseInOtherOperatingLiabilities $11.73M USD 1 Quarter
Other liabilities, current and long-term portion IncreaseDecreaseInOtherOperatingLiabilities $18.39M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $83.50M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $154.17M USD 1 Quarter
Cash paid for acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $4.33M USD 1 Quarter
Cash paid for acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired - USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $22.55M USD 1 Quarter
Capital expenditures PaymentsToAcquireProductiveAssets $28.90M USD 1 Quarter
Proceeds from sale of property and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $511.00K USD 1 Quarter
Proceeds from sale of property and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $5.38M USD 1 Quarter
Payments for other investments PaymentsToAcquireOtherInvestments $53.35M USD 1 Quarter
Payments for other investments PaymentsToAcquireOtherInvestments $14.78M USD 1 Quarter
Proceeds from other investments ProceedsFromSaleAndMaturityOfOtherInvestments $5.42M USD 1 Quarter
Proceeds from other investments ProceedsFromSaleAndMaturityOfOtherInvestments $12.12M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-30.86M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-69.62M USD 1 Quarter
Proceeds from credit facilities ProceedsFromLongTermLinesOfCredit $361.74M USD 1 Quarter
Proceeds from credit facilities ProceedsFromLongTermLinesOfCredit $816.89M USD 1 Quarter
Repayments of credit facilities RepaymentsOfLongTermLinesOfCredit $447.11M USD 1 Quarter
Repayments of credit facilities RepaymentsOfLongTermLinesOfCredit $747.10M USD 1 Quarter
Repayments of other borrowings RepaymentsOfOtherLongTermDebt $1.50M USD 1 Quarter
Repayments of other borrowings RepaymentsOfOtherLongTermDebt $14.61M USD 1 Quarter
Payments of capital lease obligations RepaymentsOfLongTermCapitalLeaseObligations $18.11M USD 1 Quarter
Payments of capital lease obligations RepaymentsOfLongTermCapitalLeaseObligations $12.91M USD 1 Quarter
Repurchase of common stock PaymentsForRepurchaseOfCommonStock - USD 1 Quarter
Repurchase of common stock PaymentsForRepurchaseOfCommonStock $90.88M USD 1 Quarter
Distributions to non-controlling interests PaymentsToMinorityShareholders $559.00K USD 1 Quarter
Distributions to non-controlling interests PaymentsToMinorityShareholders $1.28M USD 1 Quarter
Proceeds from stock-based awards, net ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions $916.00K USD 1 Quarter
Payments for stock-based awards, net PaymentsRelatedToTaxWithholdingForShareBasedCompensation $761.00K USD 1 Quarter
Other financing activities ProceedsFromPaymentsForOtherFinancingActivities $-5.97M USD 1 Quarter
Other financing activities ProceedsFromPaymentsForOtherFinancingActivities - USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-53.46M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-107.79M USD 1 Quarter
Effect of currency translation on cash EffectOfExchangeRateOnCashAndCashEquivalents $160.00K USD 1 Quarter
Effect of currency translation on cash EffectOfExchangeRateOnCashAndCashEquivalents $722.00K USD 1 Quarter
Net decrease in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-23.08M USD 1 Quarter
Net decrease in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-91.00K USD 1 Quarter
Cash and cash equivalents - beginning of period CashAndCashEquivalentsAtCarryingValue $15.69M USD Point-in-time
Cash and cash equivalents - beginning of period CashAndCashEquivalentsAtCarryingValue $40.33M USD Point-in-time
Cash and cash equivalents - beginning of period CashAndCashEquivalentsAtCarryingValue $38.77M USD Point-in-time
Cash and cash equivalents - beginning of period CashAndCashEquivalentsAtCarryingValue $40.23M USD Point-in-time
Cash and cash equivalents - end of period CashAndCashEquivalentsAtCarryingValue $15.69M USD Point-in-time
Cash and cash equivalents - end of period CashAndCashEquivalentsAtCarryingValue $40.33M USD Point-in-time
Cash and cash equivalents - end of period CashAndCashEquivalentsAtCarryingValue $38.77M USD Point-in-time
Cash and cash equivalents - end of period CashAndCashEquivalentsAtCarryingValue $40.23M USD Point-in-time
Interest paid InterestPaid $21.36M USD 1 Quarter
Interest paid InterestPaid $18.02M USD 1 Quarter
Income tax (refunds) payments, net IncomeTaxesPaidNet $-28.74M USD 1 Quarter
Income tax (refunds) payments, net IncomeTaxesPaidNet $1.77M USD 1 Quarter
Equipment acquired under capital lease and financing arrangements CapitalLeaseObligationsIncurred $25.75M USD 1 Quarter
Equipment acquired under capital lease and financing arrangements CapitalLeaseObligationsIncurred $33.92M USD 1 Quarter
Accrued capital expenditures CapitalExpendituresIncurredButNotYetPaid $4.63M USD 1 Quarter
Accrued capital expenditures CapitalExpendituresIncurredButNotYetPaid $1.03M USD 1 Quarter
Comprehensive Income 12 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $26.46M USD 1 Quarter
Net income ProfitLoss $40.63M USD 1 Quarter
Foreign currency translation (losses) gains, net of tax OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax $-523.00K USD 1 Quarter
Foreign currency translation (losses) gains, net of tax OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax $1.18M USD 1 Quarter
Unrealized gains on equity investee activity, net of tax OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax $636.00K USD 1 Quarter
Unrealized gains on equity investee activity, net of tax OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax $7.72M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $42.44M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $33.66M USD 1 Quarter
Comprehensive loss attributable to non-controlling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $-343.00K USD 1 Quarter
Comprehensive loss attributable to non-controlling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $-97.00K USD 1 Quarter
Comprehensive income attributable to MasTec, Inc. ComprehensiveIncomeNetOfTax $42.78M USD 1 Quarter
Comprehensive income attributable to MasTec, Inc. ComprehensiveIncomeNetOfTax $33.75M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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