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Supplemental Guarantor Financial Information (Tables)
6 Months Ended
Jun. 30, 2017
Condensed Unaudited Financial Statements, Supplemental Guarantor Information [Abstract]  
Condensed Unaudited Consolidating Statements of Operations and Comprehensive Income (Loss)
CONDENSED UNAUDITED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (in millions)
For the Three Months Ended June 30, 2017
MasTec, Inc.
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
MasTec, Inc.
Revenue
$

 
$
1,818.1

 
$
122.9

 
$
(50.8
)
 
$
1,890.2

Costs of revenue, excluding depreciation and amortization

 
1,566.3

 
110.8

 
(50.8
)
 
1,626.3

Depreciation and amortization

 
37.1

 
8.3

 

 
45.4

General and administrative expenses
0.6

 
66.5

 
3.7

 

 
70.8

Interest expense (income), net

 
30.4

 
(15.6
)
 

 
14.8

Equity in earnings of unconsolidated affiliates

 

 
(6.1
)
 

 
(6.1
)
Other (income) expense, net

 
(5.3
)
 
5.4

 

 
0.1

(Loss) income before income taxes
$
(0.6
)
 
$
123.1

 
$
16.3

 
$

 
$
138.8

Benefit from (provision for) income taxes
0.2

 
(44.7
)
 
(10.9
)


 
(55.4
)
Net (loss) income before equity in income from subsidiaries
$
(0.4
)
 
$
78.4

 
$
5.4

 
$

 
$
83.3

Equity in income from subsidiaries, net of tax
82.1

 

 

 
(82.1
)
 

Net income (loss)
$
81.7

 
$
78.4

 
$
5.4

 
$
(82.1
)
 
$
83.3

Net income attributable to non-controlling interests

 

 
1.7

 

 
1.7

Net income (loss) attributable to MasTec, Inc.
$
81.7

 
$
78.4

 
$
3.7

 
$
(82.1
)
 
$
81.7

Comprehensive income (loss)
$
79.5

 
$
78.4

 
$
3.2

 
$
(79.9
)
 
$
81.2


For the Three Months Ended June 30, 2016
MasTec, Inc.
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
MasTec, Inc.
Revenue
$

 
$
1,149.4

 
$
93.5

 
$
(10.5
)
 
$
1,232.4

Costs of revenue, excluding depreciation and amortization

 
995.0

 
83.7

 
(10.5
)
 
1,068.2

Depreciation and amortization

 
31.7

 
9.0

 

 
40.7

General and administrative expenses
0.6

 
61.5

 
5.8

 

 
67.9

Interest expense (income), net

 
27.8

 
(15.2
)
 

 
12.6

Equity in earnings of unconsolidated affiliates

 

 
(0.5
)
 

 
(0.5
)
Other expense (income), net

 
1.8

 
(0.3
)
 

 
1.5

(Loss) income before income taxes
$
(0.6
)
 
$
31.6

 
$
11.0

 
$

 
$
42.0

Benefit from (provision for) income taxes
0.2

 
(12.6
)
 
(5.2
)
 

 
(17.6
)
Net (loss) income before equity in income from subsidiaries
$
(0.4
)
 
$
19.0

 
$
5.8

 
$

 
$
24.4

Equity in income from subsidiaries, net of tax
24.4

 

 

 
(24.4
)
 

Net income (loss)
$
24.0

 
$
19.0

 
$
5.8

 
$
(24.4
)
 
$
24.4

Net income attributable to non-controlling interests

 

 
0.4

 

 
0.4

Net income (loss) attributable to MasTec, Inc.
$
24.0

 
$
19.0

 
$
5.4

 
$
(24.4
)
 
$
24.1

Comprehensive income (loss)
$
19.8

 
$
19.0

 
$
1.4

 
$
(20.1
)
 
$
20.1

CONDENSED UNAUDITED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (in millions)
For the Six Months Ended June 30, 2017
MasTec, Inc.
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
MasTec, Inc.
Revenue
$

 
$
2,903.2

 
$
217.0

 
$
(71.8
)
 
$
3,048.4

Costs of revenue, excluding depreciation and amortization

 
2,457.4

 
211.9

 
(71.8
)
 
2,597.5

Depreciation and amortization

 
71.1

 
17.2

 

 
88.3

General and administrative expenses
1.2

 
126.0

 
8.4

 

 
135.6

Interest expense (income), net

 
58.3

 
(30.9
)
 

 
27.4

Equity in earnings of unconsolidated affiliates

 

 
(7.7
)
 

 
(7.7
)
Other (income) expense , net

 
(5.3
)
 
5.9

 

 
0.6

(Loss) income before income taxes
$
(1.2
)
 
$
195.7

 
$
12.3

 
$

 
$
206.8

Benefit from (provision for) income taxes
0.4

 
(71.3
)
 
(11.9
)
 

 
(82.8
)
Net (loss) income before equity in income from subsidiaries
$
(0.8
)
 
$
124.4

 
$
0.4

 
$

 
$
124.0

Equity in income from subsidiaries, net of tax
123.4

 

 

 
(123.4
)
 

Net income (loss)
$
122.6

 
$
124.4

 
$
0.4

 
$
(123.4
)
 
$
124.0

Net income attributable to non-controlling interests

 

 
1.3

 

 
1.3

Net income (loss) attributable to MasTec, Inc.
$
122.6

 
$
124.4

 
$
(1.0
)
 
$
(123.4
)
 
$
122.6

Comprehensive income (loss)
$
122.3

 
$
124.4

 
$

 
$
(123.1
)
 
$
123.6


For the Six Months Ended June 30, 2016
MasTec, Inc.
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
MasTec, Inc.
Revenue
$

 
$
2,027.7

 
$
189.5

 
$
(10.6
)
 
$
2,206.6

Costs of revenue, excluding depreciation and amortization

 
1,772.3

 
190.9

 
(10.6
)
 
1,952.6

Depreciation and amortization

 
63.0

 
16.7

 

 
79.7

General and administrative expenses
1.2

 
111.5

 
15.2

 

 
127.9

Interest expense (income), net

 
55.2

 
(30.4
)
 

 
24.8

Equity in earnings of unconsolidated affiliates

 

 
(3.6
)
 

 
(3.6
)
Other income, net

 
(9.4
)
 
(2.4
)
 

 
(11.8
)
(Loss) income before income taxes
$
(1.2
)
 
$
35.1

 
$
3.1

 
$

 
$
37.1

Benefit from (provision for) income taxes
0.5

 
(14.0
)
 
(2.0
)
 

 
(15.5
)
Net (loss) income before equity in income from subsidiaries
$
(0.7
)
 
$
21.1

 
$
1.1

 
$

 
$
21.6

Equity in income from subsidiaries, net of tax
22.1

 

 

 
(22.1
)
 

Net income (loss)
$
21.4

 
$
21.1

 
$
1.1

 
$
(22.1
)
 
$
21.6

Net income attributable to non-controlling interests

 

 
0.2

 

 
0.2

Net income (loss) attributable to MasTec, Inc.
$
21.4

 
$
21.1

 
$
0.9

 
$
(22.1
)
 
$
21.4

Comprehensive income (loss)
$
14.7

 
$
21.1

 
$
(5.6
)
 
$
(15.4
)
 
$
14.8



Condensed Unaudited Consolidating Balance Sheets
CONDENSED UNAUDITED CONSOLIDATING BALANCE SHEETS (in millions)
As of June 30, 2017
MasTec, Inc.
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
MasTec, Inc.
Assets
 
 
 
 
 
 
 
 
 
Total current assets
$

 
$
1,649.5

 
$
212.8

 
$
(71.6
)
 
$
1,790.7

Property and equipment, net

 
556.1

 
92.4

 

 
648.5

Goodwill and other intangible assets, net

 
1,086.4

 
139.8

 

 
1,226.2

Investments in and advances to consolidated affiliates, net
1,212.9

 
806.2

 
749.0

 
(2,768.1
)
 

Other long-term assets
13.1

 
23.0

 
122.0

 

 
158.1

Total assets
$
1,226.0

 
$
4,121.2

 
$
1,316.0

 
$
(2,839.7
)
 
$
3,823.5

Liabilities and equity
 
 
 
 
 
 
 
 
 
Total current liabilities
$

 
$
902.4

 
$
97.9

 
$
(71.6
)
 
$
928.7

Long-term debt

 
1,299.5

 
14.4

 

 
1,313.9

Other long-term liabilities

 
335.6

 
12.1

 

 
347.7

Total liabilities
$

 
$
2,537.5

 
$
124.4

 
$
(71.6
)
 
$
2,590.3

Total equity
$
1,226.0

 
$
1,583.7

 
$
1,191.6

 
$
(2,768.1
)
 
$
1,233.2

Total liabilities and equity
$
1,226.0

 
$
4,121.2

 
$
1,316.0

 
$
(2,839.7
)
 
$
3,823.5


As of December 31, 2016
MasTec, Inc.
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
MasTec, Inc.
Assets
 
 
 
 
 
 
 
 
 
Total current assets
$

 
$
1,256.3

 
$
175.8

 
$
(29.6
)
 
$
1,402.5

Property and equipment, net

 
456.6

 
92.5

 

 
549.1

Goodwill and other intangible assets, net

 
1,037.4

 
138.2

 

 
1,175.6

Investments in and advances to consolidated affiliates, net
1,083.9

 
625.9

 
861.2

 
(2,571.0
)
 

Other long-term assets
12.6

 
25.3

 
18.0

 

 
55.9

Total assets
$
1,096.5

 
$
3,401.5

 
$
1,285.7

 
$
(2,600.6
)
 
$
3,183.1

Liabilities and equity
 
 
 
 
 
 
 
 
 
Total current liabilities
$

 
$
759.7

 
$
109.9

 
$
(29.6
)
 
$
840.0

Long-term debt

 
938.7

 
22.7

 

 
961.4

Other long-term liabilities

 
256.2

 
21.9

 

 
278.1

Total liabilities
$

 
$
1,954.6

 
$
154.5

 
$
(29.6
)
 
$
2,079.5

Total equity
$
1,096.5

 
$
1,446.9

 
$
1,131.2

 
$
(2,571.0
)
 
$
1,103.6

Total liabilities and equity
$
1,096.5

 
$
3,401.5

 
$
1,285.7

 
$
(2,600.6
)
 
$
3,183.1

Condensed Unaudited Consolidating Statements of Cash Flows
CONDENSED UNAUDITED CONSOLIDATING STATEMENTS OF CASH FLOWS (in millions)
For the Six Months Ended June 30, 2017
MasTec, Inc.
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
MasTec, Inc.
Net cash (used in) operating activities
$

 
$
(52.9
)
 
$
(35.1
)
 
$

 
$
(88.0
)
Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
Cash paid for acquisitions, net of cash acquired

 
(37.4
)
 

 

 
(37.4
)
Capital expenditures

 
(46.8
)
 
(10.1
)
 

 
(56.9
)
Proceeds from sale of property and equipment

 
6.8

 
0.6

 

 
7.4

Payments for other investments

 
(1.2
)
 
(73.3
)
 

 
(74.5
)
Proceeds from other investments

 

 
12.1

 

 
12.1

Net cash used in investing activities
$

 
$
(78.6
)
 
$
(70.7
)
 
$

 
$
(149.3
)
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
Proceeds from credit facilities

 
1,141.2

 
12.0

 

 
1,153.2

Repayments of credit facilities

 
(850.2
)
 
(18.9
)
 

 
(869.1
)
Repayments of other borrowings and capital lease obligations

 
(35.8
)
 
(5.3
)
 

 
(41.1
)
Payments of acquisition-related contingent consideration

 
(18.8
)
 

 

 
(18.8
)
Distributions to non-controlling interests

 

 
(1.3
)
 

 
(1.3
)
Proceeds from stock-based awards, net
0.0

 
0.0

 
0.0

 

 
0.0

Other financing activities, net

 
(6.2
)
 

 

 
(6.2
)
Net financing activities and advances (to) from consolidated affiliates

 
(115.5
)
 
115.5

 

 

Net cash provided by financing activities
$

 
$
114.7

 
$
101.9

 
$

 
$
216.6

Effect of currency translation on cash

 

 
0.1

 

 
0.1

Net (decrease) increase in cash and cash equivalents
$

 
$
(16.8
)
 
$
(3.7
)
 
$

 
$
(20.5
)
Cash and cash equivalents - beginning of period
$

 
$
28.3

 
$
10.5

 
$

 
$
38.8

Cash and cash equivalents - end of period
$

 
$
11.4

 
$
6.8

 
$

 
$
18.2

For the Six Months Ended June 30, 2016
MasTec, Inc.
 
Guarantor
Subsidiaries
 
Non-Guarantor
Subsidiaries
 
Eliminations
 
Consolidated
MasTec, Inc.
Net cash (used in) provided by operating activities
$

 
$
(30.2
)
 
$
58.7

 
$

 
$
28.5

Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
Cash paid for acquisitions, net of cash acquired

 
(4.1
)
 

 

 
(4.1
)
Capital expenditures

 
(61.3
)
 
(2.6
)
 

 
(63.9
)
Proceeds from sale of property and equipment

 
9.1

 
1.0

 

 
10.1

Payments for other investments

 
(1.2
)
 
(1.5
)
 

 
(2.7
)
Proceeds from other investments

 
0.7

 

 

 
0.7

Net cash used in investing activities
$

 
$
(56.8
)
 
$
(3.1
)

$


$
(59.9
)
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
Proceeds from credit facilities

 
625.1

 
59.2

 

 
684.3

Repayments of credit facilities

 
(539.1
)
 
(65.5
)
 

 
(604.6
)
Repayments of other borrowings and capital lease obligations

 
(25.5
)
 
(8.0
)
 

 
(33.5
)
Payments of acquisition-related contingent consideration

 
(14.6
)
 

 

 
(14.6
)
Proceeds from (payments for) stock-based awards, net
3.3

 
(0.3
)
 
0.3

 

 
3.3

Other financing activities, net

 
1.1

 

 

 
1.1

Net financing activities and advances (to) from consolidated affiliates
(3.3
)
 
37.2

 
(33.9
)
 

 

Net cash provided by (used in) financing activities
$

 
$
83.9

 
$
(47.9
)
 
$

 
$
36.0

Effect of currency translation on cash

 

 
(0.9
)
 

 
(0.9
)
Net (decrease) increase in cash and cash equivalents
$

 
$
(3.1
)
 
$
6.8

 
$

 
$
3.7

Cash and cash equivalents - beginning of period
$

 
$
4.8

 
$
0.2

 
$

 
$
5.0

Cash and cash equivalents - end of period
$

 
$
1.7

 
$
7.0

 
$

 
$
8.7