Supplemental Guarantor Financial Information (Tables)

3 Months Ended

Mar. 31, 2013

Condensed Unaudited Financial Statements, Supplemental Guarantor Information [Abstract]

Condensed Unaudited Consolidating Statements Of Operations And Comprehensive Income

CONDENSED UNAUDITED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

For the Three Months Ended March 31, 2013 (in thousands)

	MasTec, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated MasTec, Inc.
Revenue	$	—		$	854,524		$	64,124		$	—		$	918,648
Costs of revenue, excluding depreciation and amortization	—			735,801			55,698			—			791,499
Depreciation and amortization	—			31,130			623			—			31,753
General and administrative expenses	331			46,060			2,494			—			48,885
Interest expense, net	—			10,047			(2		)	—			10,045
Loss on extinguishment of debt	—			5,624			—			—			5,624
Other (income) expense, net	—			(836		)	10			—			(826		)
(Loss) income from continuing operations before provision for income taxes	$	(331	)	$	26,698		$	5,301		$	—		$	31,668
Provision for income taxes	(132		)	(10,113		)	(2,103		)	—			(12,348		)
(Loss) income from continuing operations before non-controlling interests	$	(463	)	$	16,585		$	3,198		$	—		$	19,320
Loss from discontinued operations, net of tax	—			(730		)	(217		)	—			(947		)
Equity in income from subsidiaries, net of tax	18,837			—			—			(18,837		)	—
Net income (loss)	$	18,374		$	15,855		$	2,981		$	(18,837	)	$	18,373
Net income attributable to non-controlling interests	—			3			—			—			3
Net income (loss) attributable to MasTec, Inc.	$	18,374		$	15,852		$	2,981		$	(18,837	)	$	18,370
Comprehensive income (loss)	$	18,374		$	16,076		$	2,157		$	(18,837	)	$	17,770

CONDENSED UNAUDITED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

For the Three Months Ended March 31, 2012 (in thousands)

	MasTec, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated MasTec, Inc.
Revenue	$	—		$	670,557		$	67,700		$	—		$	738,257
Costs of revenue, excluding depreciation and amortization	—			593,750			58,497			—			652,247
Depreciation and amortization	—			20,150			567			—			20,717
General and administrative expenses	108			34,833			2,363			—			37,304
Interest expense, net	—			8,954			(3		)	—			8,951
Other (income) expense, net	—			(465		)	4			—			(461		)
(Loss) income from continuing operations before provision for income taxes	$	(108	)	$	13,335		$	6,272		$	—		$	19,499
Benefit from (provision for) income taxes	44			(6,170		)	(1,678		)	—			(7,804		)
(Loss) income from continuing operations before non-controlling interests	$	(64	)	$	7,165		$	4,594		$	—		$	11,695
Income (loss) from discontinued operations, net of tax	—			3,245			(770		)	—			2,475
Equity in income from subsidiaries, net of tax	14,234			—			—			(14,234		)	—
Net income (loss)	$	14,170		$	10,410		$	3,824		$	(14,234	)	$	14,170
Net loss attributable to non-controlling interests	—			—			(2		)	—			(2		)
Net income (loss) attributable to MasTec, Inc.	$	14,170		$	10,410		$	3,826		$	(14,234	)	$	14,172
Comprehensive income (loss)	$	14,170		$	10,656		$	4,947		$	(14,234	)	$	15,539

Condensed Unaudited Consolidating Balance Sheets

CONDENSED UNAUDITED CONSOLIDATING BALANCE SHEETS

As of March 31, 2013 (in thousands)

	MasTec, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated MasTec, Inc.
Assets
Current assets	$	—	$	1,047,460	$	78,198		$	—		$	1,125,658
Current assets of discontinued operations	—		13,204		6,887			—			20,091
Property and equipment, net	—		372,492		10,682			—			383,174
Goodwill and other intangible assets, net	—		927,086		29,813			—			956,899
Net investments in and advances to (from) consolidated affiliates	878,886		205,786		(54,307		)	(1,030,365		)	—
Other assets	8,112		39,192		70			—			47,374
Long-term assets of discontinued operations	—		4,711		2,959			—			7,670
Total assets	$	886,998	$	2,609,931	$	74,302		$	(1,030,365	)	$	2,540,866
Liabilities and Shareholders’ Equity
Current liabilities	$	5	$	666,536	$	22,680		$	—		$	689,221
Current liabilities of discontinued operations	—		—		2,508			—			2,508
Long-term debt	—		685,340		50			—			685,390
Other liabilities	—		262,122		15,970			—			278,092
Total liabilities	$	5	$	1,613,998	$	41,208		$	—		$	1,655,211
Total shareholders’ equity	$	886,993	$	995,933	$	33,094		$	(1,030,365	)	$	885,655
Total liabilities and shareholders’ equity	$	886,998	$	2,609,931	$	74,302		$	(1,030,365	)	$	2,540,866

CONDENSED UNAUDITED CONSOLIDATING BALANCE SHEETS

As of December 31, 2012 (in thousands)

	MasTec, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated MasTec, Inc.
Assets
Current assets	$	—	$	980,401	$	48,373		$	—		$	1,028,774
Current assets of discontinued operations	—		13,836		4,755			—			18,591
Property and equipment, net	—		338,997		11,381			—			350,378
Goodwill and other intangible assets, net	—		931,078		30,729			—			961,807
Net investments in and advances to (from) consolidated affiliates	854,993		172,534		(21,779		)	(1,005,748		)	—
Other assets	7,702		37,639		80			—			45,421
Long-term assets of discontinued operations	—		4,711		2,937			—			7,648
Total assets	$	862,695	$	2,479,196	$	76,476		$	(1,005,748	)	$	2,412,619
Liabilities and Shareholders’ Equity
Current liabilities	22		682,985		22,810			—			705,817
Current liabilities of discontinued operations	—		574		3,995			—			4,569
Long-term debt	—		546,262		61			—			546,323
Other liabilities	—		273,199		20,776			—			293,975
Total liabilities	$	22	$	1,503,020	$	47,642		$	—		$	1,550,684
Total shareholders’ equity	$	862,673	$	976,176	$	28,834		$	(1,005,748	)	$	861,935
Total liabilities and shareholders’ equity	$	862,695	$	2,479,196	$	76,476		$	(1,005,748	)	$	2,412,619

Condensed Unaudited Consolidating Statements Of Cash Flows

CONDENSED UNAUDITED CONSOLIDATING STATEMENTS OF CASH FLOWS

For the Three Months Ended March 31, 2013 (in thousands)

	MasTec, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated MasTec, Inc.
Net cash (used in) provided by operating activities	$	(894	)	$	74,980		$	(42,270	)	$	—	$	31,816
Cash flows (used in) provided by investing activities:
Cash paid for acquisitions, net, including contingent consideration	$	—		$	(9,656	)	$	—		$	—	$	(9,656	)
Capital expenditures	—			(25,782		)	(69		)	—		(25,851		)
Proceeds from sale of assets	—			3,340			71			—		3,411
Net cash (used in) provided by investing activities	$	—		$	(32,098	)	$	2		$	—	$	(32,096	)
Cash flows provided by (used in) financing activities:
Proceeds from issuance of 4.875% senior notes	$	—		$	400,000		$	—		$	—	$	400,000
Repayment of 7.625% senior notes	—			(150,000		)	—			—		(150,000		)
Proceeds from credit facility	—			231,600			—			—		231,600
Repayments of credit facility	—			(365,600		)	—			—		(365,600		)
Repayments of other borrowings	—			(7,683		)	—			—		(7,683		)
Repayments of book overdrafts	—			(5,970		)	—			—		(5,970		)
Payments of capital lease obligations	—			(11,427		)	(11		)	—		(11,438		)
Proceeds from stock option exercises and other share-based awards	2,838			—			—			—		2,838
Excess tax benefit from stock-based compensation	—			903			—			—		903
Payments for debt extinguishment, call premiums	—			(4,116		)	—			—		(4,116		)
Payments of financing costs	—			(6,852		)	—			—		(6,852		)
Net financing activities and advances (to) from consolidated affiliates	(1,944		)	(32,773		)	34,717			—		—
Net cash provided by financing activities	$	894		$	48,082		$	34,706		$	—	$	83,682
Net increase (decrease) in cash and cash equivalents	—			90,964			(7,562		)	—		83,402
Net effect of currency translation on cash	—			—			(60		)	—		(60		)
Cash and cash equivalents - beginning of period	—			17,827			8,940			—		26,767
Cash and cash equivalents - end of period	$	—		$	108,791		$	1,318		$	—	$	110,109
Cash and cash equivalents of discontinued operations	$	—		$	739		$	123		$	—	$	862
Cash and cash equivalents of continuing operations	$	—		$	108,052		$	1,195		$	—	$	109,247

CONDENSED UNAUDITED CONSOLIDATING STATEMENTS OF CASH FLOWS

For the Three Months Ended March 31, 2012 (in thousands)

	MasTec, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated MasTec, Inc.
Net cash (used in) provided by operating activities	$	(466	)	$	63,916		$	(20,005	)	$	—	$	43,445
Cash flows used in investing activities:
Cash paid for acquisitions, net, including contingent consideration	$	—		$	(4,498	)	$	—		$	—	$	(4,498	)
Capital expenditures	—			(13,530		)	(567		)	—		(14,097		)
Proceeds from sale of assets	—			2,014			—			—		2,014
Net cash used in investing activities	$	—		$	(16,014	)	$	(567	)	$	—	$	(16,581	)
Cash flows provided by (used in) financing activities:
Proceeds from credit facility	$	—		$	166,700		$	—		$	—	$	166,700
Repayments of credit facility	—			(195,950		)	—			—		(195,950		)
Repayments of other borrowings	—			(5,323		)	—			—		(5,323		)
Proceeds from book overdrafts	—			10,433			—			—		10,433
Payments of capital lease obligations	—			(4,177		)	(8		)	—		(4,185		)
Proceeds from stock option exercises and other share-based awards	1,218			—			—			—		1,218
Excess tax benefit from stock-based compensation	—			97			—			—		97
Payments of financing costs	—			(52		)	—			—		(52		)
Net financing activities and advances (to) from consolidated affiliates	(752		)	(25,371		)	26,123			—		—
Net cash provided by (used in) financing activities	$	466		$	(53,643	)	$	26,115		$	—	$	(27,062	)
Net (decrease) increase in cash and cash equivalents	—			(5,741		)	5,543			—		(198		)
Net effect of currency translation on cash	—			—			49			—		49
Cash and cash equivalents - beginning of period	—			16,240			4,040			—		20,280
Cash and cash equivalents - end of period	$	—		$	10,499		$	9,632		$	—	$	20,131
Cash and cash equivalents of discontinued operations	$	—		$	4,026		$	260		$	—	$	4,286
Cash and cash equivalents of continuing operations	$	—		$	6,473		$	9,372		$	—	$	15,845