Supplemental Guarantor Financial Information (Tables)

3 Months Ended

Mar. 31, 2015

CONDENSED UNAUDITED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (in millions)



For the Three Months Ended March 31, 2015	MasTec, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated MasTec, Inc.
Revenue	$	—		$	803.0		$	201.7		$	(1.4	)	$	1,003.3
Costs of revenue, excluding depreciation and amortization	—			682.7			205.1			(1.4		)	886.4
Depreciation and amortization	—			32.3			10.3			—			42.6
General and administrative expenses	0.6			66.2			7.2			—			74.0
Interest expense (income), net	—			27.1			(16.1		)	—			11.0
Other (income) expense, net	—			(0.9		)	0.9			—			—
Loss from continuing operations before income taxes	$	(0.6	)	$	(4.4	)	$	(5.7	)	$	—		$	(10.7	)
Benefit from income taxes	0.2			1.7			2.4			—			4.4
Net loss from continuing operations	$	(0.4	)	$	(2.7	)	$	(3.3	)	$	—		$	(6.4	)
Equity in loss from subsidiaries, net of tax	(5.9		)	—			—			5.9			—
Net (loss) income	$	(6.3	)	$	(2.7	)	$	(3.3	)	$	5.9		$	(6.4	)
Net loss attributable to non-controlling interests	—			—			(0.1		)	—			(0.1		)
Net (loss) income attributable to MasTec, Inc.	$	(6.3	)	$	(2.7	)	$	(3.2	)	$	5.9		$	(6.3	)
Comprehensive (loss) income	$	(28.3	)	$	(2.7	)	$	(25.4	)	$	28.0		$	(28.4	)



For the Three Months Ended March 31, 2014 (As Restated)	MasTec, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated MasTec, Inc.
Revenue	$	—		$	791.0		$	166.8		$	—		$	957.8
Costs of revenue, excluding depreciation and amortization	—			693.2			148.1			—			841.3
Depreciation and amortization	—			28.1			5.4			—			33.5
General and administrative expenses	0.6			47.7			5.0			—			53.3
Interest expense, net	—			11.8			0.2			—			12.0
Other (income) expense, net	—			(2.2		)	0.1			—			(2.1		)
(Loss) income from continuing operations before income taxes	$	(0.6	)	$	12.4		$	8.0		$	—		$	19.8
Benefit from (provision for) income taxes	0.3			(7.0		)	(0.8		)	—			(7.5		)
Net (loss) income from continuing operations	$	(0.3	)	$	5.4		$	7.2		$	—		$	12.3
Net loss from discontinued operations	—			—			(0.2		)	—			(0.2		)
Equity in income from subsidiaries, net of tax	12.3			—			—			(12.3		)	—
Net income (loss)	$	12.0		$	5.4		$	7.0		$	(12.3	)	$	12.1
Net income attributable to non-controlling interests	—			—			0.0			—			0.0
Net income (loss) attributable to MasTec, Inc.	$	12.0		$	5.4		$	7.0		$	(12.3	)	$	12.1
Comprehensive income (loss)	$	6.8		$	5.4		$	1.6		$	(7.0	)	$	6.8

CONDENSED UNAUDITED CONSOLIDATING BALANCE SHEETS (in millions)



As of March 31, 2015	MasTec, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated MasTec, Inc.
Assets
Current assets	$	—	$	1,066.7	$	291.5	$	—		$	1,358.2
Property and equipment, net	—		471.4		136.6		—			608.0
Goodwill and other intangible assets, net	—		1,064.0		242.5		—			1,306.5
Investments in and advances to consolidated affiliates, net	1,993.9		79.0		1,038.7		(3,111.6		)	—
Other long-term assets	9.3		27.9		41.1		—			78.3
Total assets	$	2,003.2	$	2,709.0	$	1,750.4	$	(3,111.6	)	$	3,351.0
Liabilities and Equity
Total current liabilities	$	—	$	714.3	$	167.2	$	—		$	881.5
Long-term debt	—		1,041.2		36.8		—			1,078.0
Other long-term liabilities	—		241.7		116.3		—			358.0
Total liabilities	$	—	$	1,997.2	$	320.3	$	—		$	2,317.5
Total equity	$	2,003.2	$	711.8	$	1,430.1	$	(3,111.6	)	$	1,033.5
Total liabilities and equity	$	2,003.2	$	2,709.0	$	1,750.4	$	(3,111.6	)	$	3,351.0



As of December 31, 2014	MasTec, Inc.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated MasTec, Inc.
Assets
Current assets	$	—	$	1,249.6	$	282.2	$	—		$	1,531.8
Property and equipment, net	—		472.6		150.5		—			623.1
Goodwill and other intangible assets, net	—		1,068.3		264.5		—			1,332.8
Investments in and advances to consolidated affiliates, net	2,108.4		—		1,097.0		(3,205.4		)	—
Other long-term assets	9.3		28.7		38.3		—			76.3
Total assets	$	2,117.7	$	2,819.2	$	1,832.5	$	(3,205.4	)	$	3,564.0
Liabilities and Equity
Total current liabilities	$	—	$	777.4	$	203.4	$	—		$	980.8
Long-term debt	—		1,027.3		33.9		—			1,061.2
Advances from consolidated affiliates, net	—		70.7		—		(70.7		)	—
Other long-term liabilities	—		239.3		134.6		—			373.9
Total liabilities	$	—	$	2,114.7	$	371.9	$	(70.7	)	$	2,415.9
Total equity	$	2,117.7	$	704.5	$	1,460.6	$	(3,134.7	)	$	1,148.1
Total liabilities and equity	$	2,117.7	$	2,819.2	$	1,832.5	$	(3,205.4	)	$	3,564.0

CONDENSED UNAUDITED CONSOLIDATING STATEMENTS OF CASH FLOWS (in millions)



For the Three Months Ended March 31, 2015	MasTec, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated MasTec, Inc.
Net cash (used in) provided by operating activities	$	(0.4	)	$	175.9		$	(56.7	)	$	—	$	118.8
Cash flows (used in) provided by investing activities:
Cash paid for acquisitions, net of cash acquired	—			(0.1		)	—			—		(0.1		)
Capital expenditures	—			(17.9		)	(1.8		)	—		(19.7		)
Proceeds from sale of property and equipment	—			1.2			0.2			—		1.4
Payments for investments, net	—			(32.0		)	—			—		(32.0		)
Net cash used in investing activities	$	—		$	(48.8	)	$	(1.6	)	$	—	$	(50.4	)
Cash flows provided by (used in) financing activities:
Proceeds from credit facilities	—			251.0			188.5			—		439.5
Repayments of credit facilities	—			(224.7		)	(180.1		)	—		(404.8		)
Repayments of other borrowings and capital lease obligations	—			(10.7		)	(4.4		)	—		(15.1		)
Repurchase of common stock	(83.3		)	—			—			—		(83.3		)
Proceeds from stock-based awards, net of tax withholdings	1.1			(0.2		)	—			—		0.9
Net financing activities and advances (to) from consolidated affiliates	82.6			(135.7		)	53.1			—		—
Net cash provided by (used in) financing activities	$	0.4		$	(120.3	)	$	57.1		$	—	$	(62.8	)
Effect of currency translation on cash	—			—			(1.0		)	—		(1.0		)
Net increase (decrease) in cash and cash equivalents	$	—		$	6.8		$	(2.2	)	$	—	$	4.6
Cash and cash equivalents - beginning of period	—			18.5			5.6			—		24.1
Cash and cash equivalents - end of period	$	—		$	25.3		$	3.4		$	—	$	28.7



For the Three Months Ended March 31, 2014 (As Restated)	MasTec, Inc.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated MasTec, Inc.
Net cash used in by operating activities	$	(0.2	)	$	(17.8	)	$	(2.4	)	$	—	$	(20.4	)
Cash flows (used in) provided by investing activities:
Cash paid for acquisitions, net of cash acquired	—			(23.8		)	—			—		(23.8		)
Capital expenditures	—			(32.4		)	(3.2		)	—		(35.6		)
Proceeds from sale of property and equipment	—			3.1			0.3			—		3.4
Payments for investments, net	—			(1.1		)	—			—		(1.1		)
Net cash used in investing activities	$	—		$	(54.2	)	$	(2.9	)	$	—	$	(57.1	)
Cash flows provided by (used in) financing activities:
Proceeds from credit facilities	$	—		$	233.9		$	—		$	—	$	233.9
Repayments of credit facilities	—			(157.3		)	—			—		(157.3		)
Repayments of other borrowings and capital lease obligations	—			(13.0		)	(0.8		)	—		(13.8		)
Proceeds from stock-based awards, net of tax withholdings	1.1			(2.6		)	—			—		(1.5		)
Excess tax benefits from stock-based compensation	—			3.2			—			—		3.2
Payments of financing costs	—			(0.2		)	—			—		(0.2		)
Net financing activities and advances (to) from consolidated affiliates	(0.9		)	8.4			(7.5		)	—		—
Net cash provided by (used in) financing activities	$	0.2		$	72.4		$	(8.3	)	$	—	$	64.3
Effect of currency translation on cash	—			—			(0.5		)	—		(0.5		)
Net increase (decrease) in cash and cash equivalents	$	—		$	0.4		$	(14.1	)	$	—	$	(13.7	)
Cash and cash equivalents - beginning of period	—			5.4			17.6			—		23.0
Cash and cash equivalents - end of period	$	—		$	5.8		$	3.5		$	—	$	9.3