Fair Value of Financial Instruments | Note 4 – Fair Value of Financial Instruments The Company’s financial instruments include cash and cash equivalents, accounts and notes receivable, cash collateral deposited with insurance carriers, life insurance assets, equity investments, deferred compensation plan assets and liabilities, accounts payable and other current liabilities, acquisition-related contingent consideration and debt obligations. Fair value is the price that would be received to sell an asset or the amount paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The fair value guidance establishes a valuation hierarchy, which requires maximizing the use of observable inputs when measuring fair value. The three levels of inputs that may be used are: (i) Level 1 - quoted market prices in active markets for identical assets or liabilities; (ii) Level 2 - observable market-based inputs or other observable inputs; and (iii) Level 3 - significant unobservable inputs that cannot be corroborated by observable market data, which are generally determined using valuation models incorporating management estimates of market participant assumptions. Acquisition-Related Contingent Consideration Acquisition-related contingent consideration, or “earn-outs,” represent the estimated fair value of future amounts payable for acquisitions of businesses and other interests. Acquisition-related contingent consideration is based on management estimates and entity-specific assumptions, which are Level 3 inputs, and is evaluated on an ongoing basis. As of March 31, 2019 and December 31, 2018 , the estimated fair value of the Company’s earn-out liabilities totaled $140.5 million and $118.1 million , respectively, of which $30.8 million and $29.6 million , respectively, was included within other current liabilities. The fair value of the Company’s earn-out liabilities is estimated using income approaches such as discounted cash flows or option pricing models, which incorporate significant inputs not observable in the market. Key assumptions include the discount rate and probability-weighted EBITDA projections. Significant changes in any of these assumptions could result in significantly higher or lower potential earn-out liabilities. As of March 31, 2019 , the range of potential undiscounted earn-out liabilities was estimated to be between $41 million and $196 million ; however, there is no maximum payment amount . Acquisition-related contingent consideration activity consists primarily of additions from new business combinations; changes in the expected fair value of future earn-out obligations; and payments. Measurement period adjustments, which are fair value adjustments for earn-out liabilities relating to new information obtained about the facts and circumstances existing as of the date of acquisition for a period of up to one year, are recorded to goodwill. Other revisions to the expected fair value of future earn-out liabilities are reflected as income or expense, as appropriate. Payments of acquisition-related contingent consideration, to the extent they relate to estimated liabilities as of the date of acquisition, are reflected within financing activities in the consolidated statements of cash flows, whereas payments in excess of acquisition date liabilities are classified within operating activities. For the three month periods ended March 31, 2019 and 2018 , additions to acquisition-related contingent consideration from new business combinations totaled approximately $15.2 million and $1.5 million , respectively. Fair value adjustments related to acquisition-related contingent consideration, including those related to finalization of completed earn-out arrangements, totaled a net increase of approximately $7.2 million for the three month period ended March 31, 2019 and related to businesses in the Company’s Oil and Gas and Communications segments. Fair value adjustments, net, for the three month period ended March 31, 2018 were de minimis. Measurement period adjustments related to acquisition-related contingent consideration totaled an increase of approximately $2.7 million for the three month period ended March 31, 2018 and related primarily to businesses in the Company’s Oil and Gas segment. There were no payments of acquisition-related contingent consideration during either of the three month periods ended March 31, 2019 or 2018 . Equity Investments The Company’s equity investments as of March 31, 2019 include: (i) the Company’s 33% equity interests in Trans-Pecos Pipeline, LLC (“TPP”) and Comanche Trail Pipeline, LLC (“CTP,” and together with TPP, the “Waha JVs”), which are accounted for as equity method investments; (ii) a $15 million investment in Cross Country Infrastructure Services, Inc. (“CCI”); (iii) the Company’s interests in certain proportionately consolidated non-controlled contractual joint ventures; (iv) the Company’s equity interests in Pensare Acquisition Corp. (“Pensare”); and (v) certain other equity investments. See Note 15 - Related Party Transactions for additional information related to certain of the Company’s equity investments. Investment Arrangements . From time to time, the Company may participate in selected investment or strategic arrangements, including equity interests in various business entities and participation in contractual joint ventures, some of which may involve the extension of loans or other types of financing arrangements. As of March 31, 2019 , the Company determined that certain of its investment arrangements were VIEs. The Company does not, however, have the power to direct the primary activities that most significantly impact the economic performance of these VIEs and the Company is not the primary beneficiary; accordingly, it has not consolidated these VIEs. Equity investments, other than those accounted for as equity method investments or those that are proportionately consolidated, are measured at fair value if their fair values are readily determinable. Equity investments that do not have readily determinable fair values are measured at cost, adjusted for changes from observable market transactions, less impairment (“adjusted cost basis”). As of March 31, 2019 and December 31, 2018 , the aggregate carrying value of the Company’s equity investments totaled approximately $188 million and $197 million , respectively, including approximately $18 million of equity investments measured on an adjusted cost basis as of both March 31, 2019 and December 31, 2018 . There were no impairments of, or material changes in the fair value of these investments during either of the three month periods ended March 31, 2019 or 2018 . The Waha JVs. The Waha JVs own and operate two pipelines and a header system that transport natural gas to the Mexican border for export. For the three month periods ended March 31, 2019 and 2018 , the Company made equity contributions to the Waha JVs of approximately $0.8 million and $14.8 million , respectively. In the past, certain subsidiaries of MasTec have provided pipeline construction services to the Waha JVs, for which revenue and related receivables were de minimis for both the three month periods ended March 31, 2019 and 2018 and as of March 31, 2019 and December 31, 2018 , respectively. Equity in earnings related to the Company’s proportionate share of income from the Waha JVs, which is included within the Company’s Other segment, totaled approximately $6.3 million and $5.6 million for the three month periods ended March 31, 2019 and 2018 , respectively. Cumulative undistributed earnings from the Waha JVs, which represents cumulative equity in earnings for the Waha JVs less distributions of earnings, totaled $32.3 million as of March 31, 2019 . For the three month periods ended March 31, 2019 and 2018 , the Company received $3.9 million and $5.7 million in distributions of earnings, respectively, from the Waha JVs, which amounts are included within operating cash flows. The Company’s net investment in the Waha JVs, which differs from its proportionate share of the net assets of the Waha JVs due primarily to capitalized investment costs, totaled approximately $167 million and $168 million as of March 31, 2019 and December 31, 2018 , respectively. The Waha JVs are party to separate non-recourse financing facilities, each of which are secured by pledges of the equity interests in the respective entities, as well as a first lien security interest over virtually all of their assets. The Waha JVs are also party to certain interest rate swaps, which are accounted for as qualifying cash flow hedges. The Company reflects its proportionate share of any unrealized fair market value gains or losses from fluctuations in interest rates associated with these swaps within other comprehensive income or loss, as appropriate. For the three month period ended March 31, 2019 , the Company’s proportionate share of unrecognized unrealized activity on these interest rate swaps was losses of approximately $7.2 million , or $5.5 million , net of tax, and for the three month period ended March 31, 2018 was gains of $10.1 million , or $7.7 million , net of tax. Other Investments. During the third quarter of 2017, the Company paid $2.0 million for approximately 4% of the common stock of Pensare and warrants to purchase 2.0 million shares of Pensare common stock, which is a special purpose acquisition company focusing on transactions in the telecommunications industry. José R. Mas, MasTec’s Chief Executive Officer, is a director of Pensare. The shares of common stock purchased by MasTec are not transferable or salable until one year after Pensare successfully completes a business combination transaction, with limited exceptions, as specified in the agreement. The warrants are exercisable at a purchase price of $11.50 per share after Pensare successfully completes a business combination transaction. Both the warrants and the shares contained an expiration and/or forfeiture clause without the successful completion of a business combination transaction, for which the required completion date was recently extended to August 1, 2019. On January 31, 2019, Pensare entered into a business combination agreement with U.S TelePacific Holdings Corp. (“TPx”), the completion of which is pending shareholder approval. TPx is a provider of unified communications and cloud-focused managed information technology services. The shares, which are measured on an adjusted cost basis, and the warrants, which are derivative financial instruments, are included within other long-term assets in the Company’s consolidated financial statements as of March 31, 2019 . Due to the nature of the restrictions, the fair value of the shares is not readily determinable. The fair value of the warrants is determined based on observable and unobservable inputs, including market volatility and the rights and obligations of the warrants, which are Level 3 inputs. For both the three month periods ended March 31, 2019 and 2018 , there were no material changes in the fair value of the Company’s investment in Pensare. During the second quarter of 2018, the Company invested $10.0 million for an equity interest of approximately 40% in LifeShield, LLC (“LifeShield”), a home security company, which was measured under the fair value option. As of December 31, 2018 , the fair value of this investment was determined to approximate its purchase price. In February 2019, the Company sold its equity interest in LifeShield for approximately $11 million , subject to customary escrow arrangements. In connection with the 2014 acquisition of Pacer Construction Holdings Corporation and its affiliated operating companies (collectively, “Pacer”), the Company acquired an investment that is in the final stages of liquidation, and for which the Company has minimal involvement. The net carrying value of this asset, which is included within other current assets, totaled $3.9 million and $2.9 million as of March 31, 2019 and December 31, 2018 , respectively. Senior Notes As of both March 31, 2019 and December 31, 2018 , the gross carrying amount of the Company’s 4.875% senior notes due March 15, 2023 (the “ 4.875% Senior Notes”), which are measured at fair value on a non-recurring basis, totaled $400 million . As of March 31, 2019 and December 31, 2018 , the estimated fair value of the 4.875% Senior Notes, based on Level 1 inputs, totaled $408.0 million and $392.0 million , respectively. |