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Segments and Operations by Geographic Area
 9 Months Ended
Sep. 30, 2013
Segment Reporting [Abstract]  
Segments and Operations by Geographic Area
Segments and Operations by Geographic Area     
Segment Discussion

MasTec presents its continuing operations under five reportable segments: (1) Communications; (2) Oil and Gas; (3) Electrical Transmission; (4) Power Generation and Industrial and (5) Other. This structure is generally focused on broad end-user markets for MasTec's labor-based construction services and has been determined in accordance with the criteria in Accounting Standards Codification ("ASC") 280, Segment Reporting. All five reportable segments derive their revenues from the engineering, installation and maintenance of infrastructure, primarily in North America.

Income from continuing operations before non-controlling interests before interest, taxes, depreciation and amortization (“EBITDA”) is the measure of profitability used by management to manage its segments and, accordingly, in its segment reporting. As appropriate, the Company supplements the reporting of consolidated financial information determined in accordance with U.S. GAAP with certain non-U.S. GAAP financial measures, including EBITDA. The Company believes these non-U.S. GAAP measures provide meaningful information that helps investors understand the Company's financial results and assess its prospects for future performance. The Company uses EBITDA to evaluate its performance, both internally and versus its peers, because it excludes certain items that may not be indicative of the Company's reportable segment results, as well as items that can vary widely across different industries or among companies within the same industry. Segment EBITDA is calculated in a manner consistent with consolidated EBITDA.
Summarized financial information for MasTec’s reportable segments is presented and reconciled to consolidated continuing operations financial information for total MasTec in the following tables (in millions).

As of and for the three month period ended September 30, 2013:
 
Communications
 
Oil and Gas
 
Electrical
Transmission
 
Power
Generation and Industrial
 
Other
 
Corporate
 
Eliminations

 
Continuing Operations
Consolidated
Revenue
$
543.0

 
$
519.1

 
$
118.8

 
$
85.1

 
$
3.5

 
$
—

 
$
(0.1
)
 
$
1,269.4

EBITDA
$
71.8

 
$
68.1

 
$
12.1

 
$
(6.4
)
 
$
0.1

 
$
(13.6
)
 
$
—

 
$
132.1

Depreciation
$
8.0

 
$
19.3

 
$
2.6

 
$
1.2

 
$
—

 
$
0.9

 
$
—

 
$
32.0

Amortization
$
1.5

 
$
3.2

 
$
0.6

 
$
0.5

 
$
—

 
$
—

 
$
—

 
$
5.8

As of and for the three month period ended September 30, 2012:
 
Communications
 
Oil and Gas
 
Electrical
Transmission
 
Power
Generation and Industrial
 
Other
 
Corporate
 
Eliminations

 
Continuing Operations
Consolidated
Revenue
$
490.0

 
$
284.0

 
$
74.8

 
$
211.7

 
$
7.5

 
$
—

 
$
(0.7
)
 
$
1,067.3

EBITDA
$
59.5

 
$
29.0

 
$
10.5

 
$
9.9

 
$
1.2

 
$
(18.4
)
 
$
—

 
$
91.7

Depreciation
$
6.9

 
$
9.5

 
$
1.6

 
$
1.0

 
$
—

 
$
0.8

 
$
—

 
$
19.8

Amortization
$
0.4

 
$
0.5

 
$
1.2

 
$
0.7

 
$
—

 
$
—

 
$
—

 
$
2.8

As of and for the nine month period ended September 30, 2013:
 
Communications
 
Oil and Gas
 
Electrical
Transmission
 
Power
Generation and Industrial
 
Other
 
Corporate
 
Eliminations

 
Continuing Operations
Consolidated
Revenue
$
1,464.5

 
$
1,134.8

 
$
321.9

 
$
237.3

 
$
9.2

 
$
—

 
$
(2.0
)
 
$
3,165.7

EBITDA
$
181.6

 
$
161.7

 
$
27.0

 
$
(14.6
)
 
$
0.5

 
$
(47.9
)
 
$
—

 
$
308.3

Depreciation
$
22.8

 
$
51.8

 
$
7.1

 
$
3.6

 
$
—

 
$
2.6

 
$
—

 
$
87.9

Amortization
$
4.0

 
$
8.4

 
$
1.3

 
$
1.5

 
$
—

 
$
—

 
$
—

 
$
15.2

As of and for the nine month period ended September 30, 2012:
 
Communications
 
Oil and Gas
 
Electrical
Transmission
 
Power
Generation and Industrial
 
Other
 
Corporate
 
Eliminations

 
Continuing Operations
Consolidated
Revenue
$
1,311.1

 
$
715.3

 
$
228.2

 
$
527.4

 
$
14.1

 
$
—

 
$
(1.7
)
 
$
2,794.4

EBITDA
$
139.4

 
$
57.3

 
$
31.1

 
$
28.2

 
$
1.7

 
$
(34.5
)
 
$
—

 
$
223.2

Depreciation
$
19.9

 
$
27.2

 
$
4.3

 
$
3.0

 
$
—

 
$
2.2

 
$
—

 
$
56.6

Amortization
$
1.3

 
$
1.4

 
$
3.8

 
$
2.0

 
$
—

 
$
—

 
$
—

 
$
8.5



Revenue generated from utilities customers represented 6.9% and 11.6% of Communications segment revenues for the three month periods ended September 30, 2013 and 2012, respectively, and 7.2% and 11.2% for the nine month periods ended September 30, 2013 and 2012, respectively.

The following table presents a reconciliation of EBITDA for our continuing operations to consolidated income from continuing operations before provision for income taxes (in millions):
 
For the Three Months Ended September 30,
 
For the Nine Months Ended September 30,
 
2013
 
2012
 
2013
 
2012
EBITDA
$
132.1

 
$
91.7

 
$
308.3

 
$
223.2

Less:
 
 
 
 
 
 
 
Interest expense, net
(12.7
)
 
(9.4
)
 
(34.5
)
 
(27.9
)
Depreciation
(32.0
)
 
(19.8
)
 
(87.9
)
 
(56.6
)
Amortization
(5.8
)
 
(2.8
)
 
(15.2
)
 
(8.5
)
Income from continuing operations before provision for income taxes
$
81.6

 
$
59.6

 
$
170.6

 
$
130.2


Foreign Operations. The Company has operations in Canada as well as in parts of Latin America and the Caribbean. The following table presents revenue by geographic area for the periods indicated (dollar amounts in millions):
 
For the Three Months Ended September 30,
 
For the Nine Months Ended September 30,
 
2013
 
2012
 
2013
 
2012
Continuing operations:
 
 
 
 
 
 
 
Derived from foreign operations
$
90.9

 
$
33.7

 
$
172.0

 
$
133.7

Derived in the United States
1,178.5

 
1,033.6

 
2,993.7

 
2,660.7

Revenue from continuing operations
$
1,269.4

 
$
1,067.3

 
$
3,165.7

 
$
2,794.4

 
 
 
 
 
 
 
 
Discontinued operations:
 
 
 
 
 
 
 
Derived from foreign operations
$
2.3

 
$
1.9

 
$
7.0

 
$
4.6

Derived in the United States
2.5

 
2.9

 
11.0

 
69.1

Revenue from discontinued operations
$
4.8

 
$
4.8

 
$
18.0

 
$
73.7


The following table presents long-lived assets held in foreign countries for our continuing operations as of the dates indicated (in millions):
 
September 30,
2013
 
December 31,
2012
Property and equipment, net
$
48.8

 
$
11.4

Goodwill and other intangible assets, net
$
94.0


$
30.5


Significant Customers
Revenue concentration information for significant customers, as a percent of total consolidated revenue from continuing operations, is as follows:
 
For the Three Months Ended September 30,
 
For the Nine Months Ended September 30,
 
2013
 
2012
 
2013
 
2012
Customer:
 
 
 
 
 
 
 
AT&T
16%
 
17%
 
18%
 
17%
DIRECTV®
13%
 
16%
 
15%
 
17%
Enbridge, Inc.
20%
 
3%
 
14%
 
1%

The Company's relationship with AT&T is based upon master service agreements, other service agreements and construction/installation contracts for both AT&T's wireless and wireline infrastructure businesses. Revenue from AT&T is included in the Communications segment.

The Company's relationship with DIRECTV® is based upon an agreement to provide installation and maintenance services for DIRECTV®. Revenue from DIRECTV® is included in the Communications segment.

The Company's relationship with Enbridge, Inc. is based upon various construction contracts for natural gas pipelines. Revenue from Enbridge, Inc. is included in the Oil and Gas segment.