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, investments in convertible debt securities and warrants, deferred compensation plan assets and liabilities, accounts payable and other current liabilities, acquisition-related contingent consideration, mandatorily redeemable non-controlling interests 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 and Other Liabilities Acquisition-related contingent consideration and other liabilities is composed of Earn-outs, which represent the estimated fair value of future amounts payable for businesses that are contingent upon the acquired business achieving certain levels of earnings in the future. As of June 30, 2020 and December 31, 2019 , the estimated fair value of the Company’s Earn-out liabilities totaled $132.8 million and $173.2 million , respectively, of which $47.1 million and $54.1 million , respectively, was included within other current liabilities. The fair values of the Company’s Earn-out liabilities are estimated using income approaches such as discounted cash flows or option pricing models, both of which incorporate significant inputs not observable in the market (Level 3 inputs), including management’s estimates and entity-specific assumptions, and are evaluated on an ongoing basis. Key assumptions include the discount rate, which ranged from 12.0% to 24.7% , with a weighted average rate of 15.3% based on the relative fair value of each instrument as of June 30, 2020 , and probability-weighted projections of earnings before interest, taxes, depreciation and amortization (“EBITDA”). Significant changes in any of these assumptions could result in significantly higher or lower potential Earn-out liabilities. The ultimate payout of Earn-out liabilities will be based on actual results achieved. As of June 30, 2020 , the range of potential undiscounted Earn-out liabilities was estimated to be between $20 million and $206 million ; however, there is no maximum payment amount. Earn-out activity consists primarily of additions from new business combinations; changes in the expected fair value of future payment obligations; and payments. Measurement period adjustments for Earn-out liabilities, which are fair value adjustments 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 values of the Company’s traditional earn-out liabilities are reflected as other income or expense, as appropriate, and, for the mandatorily redeemable non-controlling interest, are recorded as interest expense, net. Earn-out payments, 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. Payments in excess of acquisition date liabilities are classified within operating activities. Additions to acquisition-related contingent consideration and other liabilities from new business combinations totaled $7.2 million for both the three and six month periods ended June 30, 2020 , and for the three and six month periods ended June 30, 2019 , additions from new business combinations totaled $1.0 million and $16.2 million , respectively. There were no measurement period adjustments for the three month period ended June 30, 2020 , and measurement period adjustments for the six month period ended June 30, 2020 totaled an increase of approximately $1.1 million , and related to a business in the Company’s Communications segment. There were no measurement period adjustments for the three or six month periods ended June 30, 2019 . Fair value adjustments, net, were de minimis for the three month period ended June 30, 2020 , and totaled a net increase of approximately $1.7 million for the six month period ended June 30, 2020 , and related to businesses in the Company’s Oil and Gas and Communications segments. Fair value adjustments, including those related to finalization of completed earn-out arrangements, totaled a net increase of approximately $29.2 million and $36.5 million for the three and six month periods ended June 30, 2019 , respectively, and related to businesses in the Company’s Oil and Gas and Communications segments. Earn-out payments totaled $50.4 million for both the three and six month periods ended June 30, 2020 , and totaled $30.0 million for both the three and six month periods ended June 30, 2019 . Equity Investments The Company’s equity investments as of June 30, 2020 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 American Virtual Cloud Technologies, Inc., or “AVCT” (formerly named Pensare Acquisition Corp.); and (v) certain other 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 June 30, 2020 , the Company determined that certain of its investment arrangements were variable interest entities (“VIEs”). Except for one individually insignificant VIE, the Company does not have the power to direct the primary activities that most significantly impact the economic performance of its VIEs nor is it the primary beneficiary. Accordingly, except for the previously mentioned VIE, the Company’s VIEs are not consolidated. 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 June 30, 2020 and December 31, 2019 , the aggregate carrying value of the Company’s equity investments totaled approximately $197 million and $196 million , respectively, including approximately $17 million and $18 million of equity investments measured on an adjusted cost basis as of June 30, 2020 and December 31, 2019 , respectively. There were no material changes in the fair values of, or impairments related to, these investments during either of the six month periods ended June 30, 2020 or 2019 . 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. 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 $7.6 million and $6.6 million for the three month periods ended June 30, 2020 and 2019 , respectively, and totaled $15.3 million and $12.9 million for the six month periods ended June 30, 2020 and 2019 , respectively. Cumulative undistributed earnings from the Waha JVs, which represents cumulative equity in earnings for the Waha JVs less distributions of earnings, totaled $55.4 million as of June 30, 2020 . Distributions of earnings from the Waha JVs, which are included within operating cash flows, totaled $5.2 million and $2.1 million for the three month periods ended June 30, 2020 and 2019 , respectively, and totaled $7.9 million and $6.0 million for the six month periods ended June 30, 2020 and 2019 , respectively. 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 $157 million and $174 million as of June 30, 2020 and December 31, 2019 , 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 and six month periods ended June 30, 2020 , the Company’s proportionate share of unrecognized unrealized activity on these interest rate swaps totaled losses of approximately $1.7 million , or $1.3 million , net of tax, and $32.0 million , or $24.3 million , net of tax, respectively. For the three and six month periods ended June 30, 2019 , the Company’s proportionate share of unrecognized unrealized activity on these interest rate swaps totaled losses of approximately $11.6 million , or $8.7 million , net of tax, and $18.8 million , or $14.2 million , net of tax, respectively. Other Investments. The Company’s investments in AVCT (collectively, the “AVCT securities”) as of June 30, 2020 consist of: (i) approximately 1.7 million shares of AVCT common stock (the “AVCT shares”); (ii) warrants to purchase 2.0 million shares of AVCT common stock at $11.50 per share (the “initial warrants”); (iii) warrants to purchase 0.3 million shares of AVCT common stock at $0.01 per share (the “AVCT warrants”); and (iv) approximately $3.0 million in principal amount of AVCT Series A convertible debentures (the “AVCT convertible debentures”), convertible into AVCT common stock at $3.45 per share, subject to customary anti-dilution adjustments. All of the AVCT securities are included within other long-term assets in the Company’s consolidated financial statements. As of June 30, 2020 and December 31, 2019 , the Company’s ownership interest in AVCT’s common stock represented by the AVCT shares totaled approximately 9% and 21% , respectively, and its aggregate beneficial ownership interest, assuming the exercise and conversion of all exercisable warrants and convertible debt into AVCT common stock, totaled approximately 21% for both periods. José R. Mas, MasTec’s Chief Executive Officer, was a director of AVCT through the end of March 2020. The Company does not have the ability to exert significant influence over the operating and financial policies of AVCT. The Company paid $2.0 million for the AVCT shares and initial warrants in 2017. The AVCT shares are not transferable or salable until April 7, 2021, with limited exceptions. The initial warrants are exercisable at any time from May 7, 2020, until the earlier to occur of April 7, 2025 and the liquidation of AVCT, subject to extension. In April 2020, concurrent with the completion of AVCT’s business combination with Stratos Management Systems, Inc., MasTec invested $3.0 million for the AVCT warrants and AVCT convertible debentures. The AVCT warrants are exercisable at any time from April 7, 2020 through April 7, 2025. The AVCT convertible debentures have a stated annual interest rate of 10% , which is paid in-kind on a quarterly basis until maturity. Maturity will occur upon the earlier of MasTec’s demand, which may occur on or after October 7, 2022, or upon a change of control of AVCT. The AVCT convertible debentures may be converted in whole or in part at any time from April 7, 2020 until full payment thereof, subject to mandatory conversion of the convertible debentures, pursuant to the terms thereof. As of June 30, 2020 , the fair value of the Company’s issued AVCT shares approximated $5 million , which was determined based on the market price of identical securities, adjusted for the restrictions on sale, a Level 3 input. The initial warrants and the AVCT warrants, for which the aggregate fair value was not material as of June 30, 2020 , are derivative financial instruments. The AVCT convertible debentures are available-for-sale securities. Interest on the AVCT convertible debentures is recognized in earnings and changes in fair value are recognized in other comprehensive income or loss, as appropriate, neither of which was material for the three month period ended June 30, 2020 . As of December 31, 2019 , the AVCT shares were measured on an adjusted cost basis as their fair value was not readily determinable. The aggregate carrying value of the Company’s investment in AVCT as of December 31, 2019 , including the AVCT shares and initial warrants, was approximately $2 million . For the three month period ended June 30, 2020 , following completion of the AVCT transactions, the Company recorded a net fair value measurement gain on the AVCT securities within other income totaling approximately $3.8 million , primarily related to the AVCT shares. The Company has equity interests in three telecommunications entities that provide certain services to MasTec. For the three and six month periods ended June 30, 2020 , expense recognized in connection with these arrangements totaled $3.6 million and $6.3 million , respectively, and related amounts payable were $0.4 million as of June 30, 2020 . Senior Notes As of both June 30, 2020 and December 31, 2019 , 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 June 30, 2020 and December 31, 2019 , the estimated fair value of the 4.875% Senior Notes, based on Level 1 inputs, totaled $396.0 million and $404.5 million , respectively. |