Related Party Transactions

3 Months Ended

Mar. 31, 2013

Related Party Transactions [Abstract]

Related Party Transactions

Related Party Transactions

MasTec leases employees to a customer, in which Jorge Mas and Jose Mas own a minority interest. For the three month periods ended March 31, 2013 and 2012, MasTec charged approximately $134,000 and $121,000, respectively, to the customer. As of March 31, 2013 and December 31, 2012, receivables of $846,000 and $907,000, respectively, attributable to this arrangement were outstanding. The Company also provides satellite communication services to this customer. For the three month periods ended March 31, 2013 and 2012, revenues relating to this customer were approximately $296,000 and $345,000, respectively. As of March 31, 2013 and December 31, 2012, outstanding receivables from this arrangement were approximately $1,338,000 and $1,232,000, respectively.        

Split Dollar and Deferred Bonus Agreements

MasTec has a split dollar agreement with Jorge Mas, for which no payments were made in either of the three month periods ended March 31, 2013 or 2012. MasTec also has a split dollar agreement and a deferred bonus agreement with Jose Mas for which no payments were made in either of the three month periods ended March 31, 2013 or 2012.

The Company adjusts the value of life insurance policies associated with the split dollar agreements each period based on their current cash surrender values. The estimated fair value of these life insurance policies of $9.0 million and $8.7 million as of March 31, 2013 and December 31, 2012, respectively, is included in other assets in the condensed unaudited consolidated balance sheets.