XML 54 R36.htm IDEA: XBRL DOCUMENT

Segments and Related Information (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Financial Information by Reportable Segment

Summarized financial information for MasTec’s reportable segments is presented and reconciled to consolidated financial information for total MasTec in the following tables, including a reconciliation of consolidated income before income taxes to EBITDA, all of which are presented in millions. The tables below may contain slight summation differences due to rounding.


	For the Years Ended December 31,
Revenue:	2020		2019		2018
Communications (a)	$	2,512.2	$	2,618.8	$	2,556.8
Clean Energy and Infrastructure	1,526.9		1,034.3		665.0
Oil and Gas	1,789.8		3,117.2		3,288.7
Electrical Transmission	506.5		413.9		397.3
Other	0.6		0.2		3.5
Eliminations	(15.0)		(1.2)		(1.9)
Consolidated revenue	$	6,321.0	$	7,183.2	$	6,909.4

(a) Revenue generated primarily by utilities customers represented 15.6%, 15.0% and 14.9% of Communications segment revenue for the years ended December 31, 2020, 2019 and 2018, respectively.


	For the Years Ended December 31,
EBITDA:	2020		2019		2018
Communications	$	270.1	$	208.8	$	290.4
Clean Energy and Infrastructure	80.4		40.1		40.4
Oil and Gas	510.9		634.2		451.6
Electrical Transmission	14.9		29.5		10.5
Other	30.7		26.5		24.4
Corporate	(124.5)		(115.7)		(156.4)
Consolidated EBITDA	$	782.5	$	823.4	$	660.8

For the year ended December 31, 2020, Corporate EBITDA included $5.6 million of debt extinguishment losses. For the year ended

December 31, 2019, Corporate EBITDA included $3.3 million of indefinite-lived pre-qualification intangible asset impairment charges. For the year ended December 31, 2018, Corporate EBITDA included $47.7 million of goodwill impairment charges and Other segment EBITDA included project gains of $1.0 million from a proportionately consolidated non-controlled Canadian joint venture, which is managed by a third party and for which the Company has minimal direct construction involvement.


	For the Years Ended December 31,
Depreciation and Amortization:	2020		2019		2018
Communications	$	87.1	$	65.0	$	59.3
Clean Energy and Infrastructure	18.2		14.1		13.7
Oil and Gas	156.6		127.2		113.7
Electrical Transmission	24.7		20.0		19.8
Other	0.1		0.1		0.1
Corporate	11.1		9.1		6.3
Consolidated depreciation and amortization	$	297.8	$	235.5	$	212.9


	As of December 31,
Assets:	2020		2019		2018
Communications	$	1,941.9	$	1,958.1	$	1,461.7
Clean Energy and Infrastructure	653.7		570.5		358.7
Oil and Gas	1,631.1		1,762.4		1,965.3
Electrical Transmission	541.6		463.9		423.9
Other	191.8		192.2		193.9
Corporate	267.7		49.9		36.5
Consolidated segment assets	$	5,227.8	$	4,997.0	$	4,440.0


	For the Years Ended December 31,
Capital Expenditures:	2020		2019		2018
Communications	$	38.4	$	36.0	$	69.3
Clean Energy and Infrastructure	14.0		12.7		6.5
Oil and Gas	149.2		59.7		83.5
Electrical Transmission	3.8		6.8		10.2
Other	0.0		0.0		0.0
Corporate	8.3		11.3		10.9
Consolidated capital expenditures	$	213.7	$	126.5	$	180.4

Reconciliation of Consolidated Income before Income Taxes to EBITDA


	For the Years Ended December 31,
EBITDA Reconciliation:	2020		2019		2018
Income before income taxes	$	425.2	$	510.9	$	365.3
Plus:
Interest expense, net	59.6		77.0		82.6
Depreciation	258.8		212.5		192.3
Amortization	38.9		23.0		20.6
Consolidated EBITDA	$	782.5	$	823.4	$	660.8

Schedule of Significant Customers, Revenue Concentration Information

Revenue concentration information for significant customers as a percentage of total consolidated revenue was as follows:


	For the Years Ended December 31,
	2020	2019	2018
Customer:
AT&T (including DIRECTV®) (a)	18%	20%	23%
Energy Transfer affiliates (b)	5%	8%	14%
Equitrans Midstream Corporation (c)	3%	11%	20%

(a) The Company’s relationship with AT&T is based upon multiple separate master service and other service agreements, including for installation and maintenance services, as well as construction/installation contracts for AT&T’s: (i) wireless; (ii) wireline/fiber; and (iii) various install-to-the-home businesses, including DIRECTV®. Revenue from AT&T is included within the Communications segment.

(b) The Company's relationship with Energy Transfer affiliates is based upon various construction contracts for pipeline activities with Energy Transfer Operating, L.P., and its subsidiaries and affiliates, for which the related revenue is included within the Oil and Gas segment.

(c) The Company's relationship with Equitrans Midstream Corporation and its affiliates is based upon various construction contracts for pipeline activities, for which the related revenue is included within the Oil and Gas segment.