MasTec (MTZ) 10-Q 4 Aug 22 2022 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2022	Aug. 01, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	001-08106
Entity Registrant Name	MasTec, Inc.
Entity Incorporation, State or Country Code	FL
Entity Tax Identification Number	65-0829355
Entity Address, Address Line One	800 S. Douglas Road, 12th Floor
Entity Address, City or Town	Coral Gables,
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33134
City Area Code	305
Local Phone Number	599-1800
Title of 12(b) Security	Common Stock, $0.10 Par Value
Trading Symbol	MTZ
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		75,539,990
Entity Central Index Key	0000015615
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Statement [Abstract]
Revenue	$ 2,301,792	$ 1,962,658	$ 4,256,192	$ 3,738,082
Costs of revenue, excluding depreciation and amortization	2,028,111	1,675,232	3,761,427	3,189,091
Depreciation	87,001	87,501	172,195	166,766
Amortization of intangible assets	27,673	19,923	53,263	31,170
General and administrative expenses	133,785	81,503	279,175	152,093
Interest expense, net	19,387	13,829	35,428	26,288
Equity in earnings of unconsolidated affiliates, net	(6,587)	(7,525)	(13,364)	(14,871)
Other income, net	(5,825)	(10,632)	(2,071)	(10,711)
Income (loss) before income taxes	18,247	102,827	(29,861)	198,256
(Provision for) benefit from income taxes	(1,992)	(27,062)	11,157	(56,379)
Net income (loss)	16,255	75,765	(18,704)	141,877
Net income attributable to non-controlling interests	43	314	62	777
Net income (loss) attributable to MasTec, Inc.	$ 16,212	$ 75,451	$ (18,766)	$ 141,100
Earnings (loss) per share (Note 2):
Basic earnings (loss) per share (in dollars per share)	$ 0.22	$ 1.04	$ (0.25)	$ 1.95
Basic weighted average common shares outstanding (in shares)	74,445	72,501	74,615	72,470
Diluted earnings (loss) per share (in dollars per share)	$ 0.20	$ 1.02	$ (0.27)	$ 1.91
Diluted weighted average common shares outstanding (in shares)	75,537	73,976	74,647	73,913

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 16,255	$ 75,765	$ (18,704)	$ 141,877
Other comprehensive income (loss):
Foreign currency translation (losses) gains, net of tax	(1,743)	843	(830)	1,214
Unrealized gains (losses) on investment activity, net of tax	7,843	(3,465)	21,597	10,374
Comprehensive income	22,355	73,143	2,063	153,465
Comprehensive income attributable to non-controlling interests	43	314	62	777
Comprehensive income attributable to MasTec, Inc.	$ 22,312	$ 72,829	$ 2,001	$ 152,688

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 138,929	$ 360,736
Accounts receivable, net of allowance	1,014,616	1,019,324
Contract assets	1,519,387	1,227,927
Inventories, net	123,766	92,595
Prepaid expenses	106,416	91,488
Other current assets	154,108	81,884
Total current assets	3,057,222	2,873,954
Property and equipment, net	1,571,828	1,436,087
Operating lease right-of-use assets	254,808	260,410
Goodwill	1,484,600	1,520,575
Other intangible assets, net	664,994	670,280
Other long-term assets	371,234	360,087
Total assets	7,404,686	7,121,393
Current liabilities:
Current portion of long-term debt, including finance leases	151,987	137,912
Current portion of operating lease liabilities	88,365	95,426
Accounts payable	799,905	663,063
Accrued salaries and wages	214,387	203,141
Other accrued expenses	219,827	229,936
Contract liabilities	298,620	313,965
Other current liabilities	124,599	141,155
Total current liabilities	1,897,690	1,784,598
Long-term debt, including finance leases	2,118,084	1,876,233
Long-term operating lease liabilities	176,549	176,378
Deferred income taxes	470,786	450,361
Other long-term liabilities	256,635	289,962
Total liabilities	4,919,744	4,577,532
Commitments and contingencies (Note 14)
Equity
Preferred stock, $1.00 par value: authorized shares - 5,000,000; issued and outstanding shares – none	0	0
Common stock, $0.10 par value: authorized shares - 145,000,000; issued shares - 95,491,405 and 95,371,211 (including 1,686,822 and 1,747,385 of unvested stock awards) as of June 30, 2022 and December 31, 2021, respectively	9,549	9,537
Capital surplus	1,049,576	1,033,615
Retained earnings	2,143,622	2,162,388
Accumulated other comprehensive loss	(58,009)	(78,776)
Treasury stock, at cost: 19,933,055 and 18,941,926 shares as of June 30, 2022 and December 31, 2021, respectively	(663,910)	(586,955)
Total MasTec, Inc. shareholders’ equity	2,480,828	2,539,809
Non-controlling interests	4,114	4,052
Total equity	2,484,942	2,543,861
Total liabilities and equity	$ 7,404,686	$ 7,121,393

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Preferred stock, par value (in dollars per share)	$ 1	$ 1
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized (in shares)	145,000,000	145,000,000
Common stock, shares issued (in shares)	95,491,405	95,371,211
Treasury stock, shares (in shares)	19,933,055	18,941,926
Common Stock
Common stock, shares issued (in shares)	95,491,405	95,371,211
Restricted Stock Awards | Common Stock
Unvested stock awards (in shares)	1,686,822	1,747,385

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Common Stock	Treasury Stock	Capital Surplus	Retained Earnings	Accumulated Other Comprehensive Loss	Total MasTec, Inc. Shareholders’ Equity	Non-Controlling Interests
Beginning balance, common shares outstanding (in shares) at Dec. 31, 2020		93,107,440
Beginning balance at Dec. 31, 2020	$ 2,005,525	$ 9,311	$ (586,955)	$ 837,453	$ 1,833,557	$ (91,444)	$ 2,001,922	$ 3,603
Beginning balance, treasury shares (in shares) at Dec. 31, 2020			(18,941,926)
Condensed Unaudited Consolidated Statements of Equity
Net income	141,877				141,100		141,100	777
Other comprehensive income (loss)	11,588					11,588	11,588
Non-cash stock-based compensation	11,600			11,600			11,600
Issuance (forfeiture) of restricted shares, net (in shares)		141,195
Issuance of restricted shares, net	0	$ 14		(14)
Other stock issuances (shares withheld for taxes), net (in shares)		7,567
Other stock issuances (shares withheld for taxes), net	$ (2,419)	$ 1		(2,420)			(2,419)
Acquisition of treasury stock, at cost (in shares)	0
Purchase of non-controlling interests	$ (6,802)			(5,429)			(5,429)	(1,373)
Ending balance, common shares outstanding (in shares) at Jun. 30, 2021		93,256,202
Ending balance at Jun. 30, 2021	2,161,369	$ 9,326	$ (586,955)	841,190	1,974,657	(79,856)	2,158,362	3,007
Ending balance, treasury shares (in shares) at Jun. 30, 2021			(18,941,926)
Beginning balance, common shares outstanding (in shares) at Mar. 31, 2021		93,253,268
Beginning balance at Mar. 31, 2021	2,088,975	$ 9,325	$ (586,955)	840,567	1,899,206	(77,234)	2,084,909	4,066
Beginning balance, treasury shares (in shares) at Mar. 31, 2021			(18,941,926)
Condensed Unaudited Consolidated Statements of Equity
Net income	75,765				75,451		75,451	314
Other comprehensive income (loss)	(2,622)					(2,622)	(2,622)
Non-cash stock-based compensation	6,072			6,072			6,072
Issuance (forfeiture) of restricted shares, net (in shares)		3,114
Other stock issuances (shares withheld for taxes), net (in shares)		(180)
Other stock issuances (shares withheld for taxes), net	$ (19)	$ 1		(20)			(19)
Acquisition of treasury stock, at cost (in shares)	0
Purchase of non-controlling interests	$ (6,802)			(5,429)			(5,429)	(1,373)
Ending balance, common shares outstanding (in shares) at Jun. 30, 2021		93,256,202
Ending balance at Jun. 30, 2021	$ 2,161,369	$ 9,326	$ (586,955)	841,190	1,974,657	(79,856)	2,158,362	3,007
Ending balance, treasury shares (in shares) at Jun. 30, 2021			(18,941,926)
Beginning balance, common shares outstanding (in shares) at Dec. 31, 2021	95,371,211	95,371,211
Beginning balance at Dec. 31, 2021	$ 2,543,861	$ 9,537	$ (586,955)	1,033,615	2,162,388	(78,776)	2,539,809	4,052
Beginning balance, treasury shares (in shares) at Dec. 31, 2021	(18,941,926)		(18,941,926)
Ending balance, common shares outstanding (in shares) at Mar. 31, 2022		95,488,017
Ending balance at Mar. 31, 2022	$ 2,512,077	$ 9,549	$ (600,746)	1,035,902	2,127,410	(64,109)	2,508,006	4,071
Ending balance, treasury shares (in shares) at Mar. 31, 2022			(19,129,904)
Beginning balance, common shares outstanding (in shares) at Dec. 31, 2021	95,371,211	95,371,211
Beginning balance at Dec. 31, 2021	$ 2,543,861	$ 9,537	$ (586,955)	1,033,615	2,162,388	(78,776)	2,539,809	4,052
Beginning balance, treasury shares (in shares) at Dec. 31, 2021	(18,941,926)		(18,941,926)
Condensed Unaudited Consolidated Statements of Equity
Net income	$ (18,704)				(18,766)		(18,766)	62
Other comprehensive income (loss)	20,767					20,767	20,767
Non-cash stock-based compensation	13,172			13,172			13,172
Issuance (forfeiture) of restricted shares, net (in shares)		168,762
Issuance of restricted shares, net	0	$ 17		(17)
Other stock issuances (shares withheld for taxes), net (in shares)		(48,568)
Other stock issuances (shares withheld for taxes), net	$ (4,085)	$ (5)		(4,080)			(4,085)
Acquisition of treasury stock, at cost (in shares)	(1,124,000)		(1,124,286)
Acquisition of treasury stock, at cost	$ (81,291)		$ (81,291)				(81,291)
Issuance of shares in connection with acquisition (in shares)			133,157
Issuance of shares in connection with acquisition	$ 11,222		$ 4,336	6,886			11,222
Ending balance, common shares outstanding (in shares) at Jun. 30, 2022	95,491,405	95,491,405
Ending balance at Jun. 30, 2022	$ 2,484,942	$ 9,549	$ (663,910)	1,049,576	2,143,622	(58,009)	2,480,828	4,114
Ending balance, treasury shares (in shares) at Jun. 30, 2022	(19,933,055)		(19,933,055)
Beginning balance, common shares outstanding (in shares) at Mar. 31, 2022		95,488,017
Beginning balance at Mar. 31, 2022	$ 2,512,077	$ 9,549	$ (600,746)	1,035,902	2,127,410	(64,109)	2,508,006	4,071
Beginning balance, treasury shares (in shares) at Mar. 31, 2022			(19,129,904)
Condensed Unaudited Consolidated Statements of Equity
Net income	16,255				16,212		16,212	43
Other comprehensive income (loss)	6,100					6,100	6,100
Non-cash stock-based compensation	6,836			6,836			6,836
Issuance (forfeiture) of restricted shares, net (in shares)		3,752
Other stock issuances (shares withheld for taxes), net (in shares)		(364)
Other stock issuances (shares withheld for taxes), net	$ (48)			(48)			(48)
Acquisition of treasury stock, at cost (in shares)	(936,000)		(936,308)
Acquisition of treasury stock, at cost	$ (67,500)		$ (67,500)				(67,500)
Issuance of shares in connection with acquisition (in shares)			133,157
Issuance of shares in connection with acquisition	$ 11,222		$ 4,336	6,886			11,222
Ending balance, common shares outstanding (in shares) at Jun. 30, 2022	95,491,405	95,491,405
Ending balance at Jun. 30, 2022	$ 2,484,942	$ 9,549	$ (663,910)	$ 1,049,576	$ 2,143,622	$ (58,009)	$ 2,480,828	$ 4,114
Ending balance, treasury shares (in shares) at Jun. 30, 2022	(19,933,055)		(19,933,055)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Cash flows from operating activities:
Net income (loss)	$ 16,255	$ 75,765	$ (18,704)	$ 141,877
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation	87,001	87,501	172,195	166,766
Amortization of intangible assets	27,673	19,923	53,263	31,170
Non-cash stock-based compensation expense			13,172	11,600
Provision for (benefit from) deferred income taxes			6,190	(1,594)
Equity in earnings of unconsolidated affiliates, net	(6,587)	(7,525)	(13,364)	(14,871)
Gains on sales of assets, net			(8,662)	(5,975)
Non-cash interest expense, net			1,709	1,563
Other non-cash items, net			301	(7,836)
Changes in assets and liabilities, net of acquisitions:
Accounts receivable			18,575	32,710
Contract assets			(289,018)	(46,148)
Inventories			(19,844)	5,167
Other assets, current and long-term portion			521	(2,604)
Accounts payable and accrued expenses			99,796	60,452
Contract liabilities			(11,915)	(16,020)
Other liabilities, current and long-term portion			(2,674)	(6,915)
Net cash provided by operating activities			1,541	349,342
Cash flows from investing activities:
Cash paid for acquisitions, net of cash acquired			(44,908)	(589,055)
Capital expenditures			(189,870)	(97,029)
Proceeds from sale of property and equipment			17,722	12,960
Payments for other investments			(2,965)	(6,197)
Proceeds from other investments			0	557
Other investing activities, net			0	2,650
Net cash used in investing activities			(220,021)	(676,114)
Cash flows from financing activities:
Proceeds from credit facilities			1,954,650	414,741
Repayments of credit facilities			(1,741,083)	(161,375)
Payments of finance lease obligations			(83,375)	(76,630)
Repurchases of common stock			(81,291)	0
Payments of acquisition-related contingent consideration			(26,779)	(20,893)
Payments for acquisition-related contingent assets			(17,636)	0
Payments to non-controlling interests, including acquisition of interests			0	(8,888)
Payments for stock-based awards			(4,024)	(3,774)
Other financing activities, net			(3,446)	(2,343)
Net cash (used in) provided by financing activities			(2,984)	140,838
Effect of currency translation on cash			(343)	87
Net decrease in cash and cash equivalents			(221,807)	(185,847)
Cash and cash equivalents - beginning of period			360,736	423,118	$ 423,118
Cash and cash equivalents - end of period	$ 138,929	$ 237,271	138,929	237,271	$ 360,736
Supplemental cash flow information:
Interest paid			34,507	28,401
Income tax payments, net			1,304	61,180
Supplemental disclosure of non-cash information:
Additions to property and equipment from finance leases			$ 126,669	$ 98,984

Business, Basis of Presentation

Business, Basis of Presentation and Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Business, Basis of Presentation and Significant Accounting Policies	Business, Basis of Presentation and Significant Accounting Policies Nature of the Business MasTec, Inc. (collectively with its subsidiaries, “MasTec” or the “Company”) is a leading infrastructure construction company operating mainly throughout North America across a range of industries. The Company’s primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy, utility and other infrastructure, such as: power delivery services, including transmission and distribution; wireless, wireline/fiber and customer fulfillment activities; power generation, primarily from clean energy and renewable sources; pipeline infrastructure, including natural gas pipeline and distribution infrastructure; heavy civil; and industrial infrastructure. MasTec’s customers are primarily in these industries. MasTec reports its results under five reportable segments: (1) Communications; (2) Clean Energy and Infrastructure; (3) Oil and Gas; (4) Power Delivery; and (5) Other. In the first quarter of 2022, the Company began integrating the acquisition of Henkels & McCoy Holdings, Inc., formerly known as Henkels & McCoy Group, Inc. (“HMG”), into its operations. The HMG acquisition was completed on December 30, 2021, with its initial balance sheet reported within the Company’s Power Delivery segment. During the first quarter of 2022, the Company reported portions of HMG’s operations within its Power Delivery, Communications and Oil and Gas segments, as appropriate, and HMG’s corporate functions within its Corporate results. Accordingly, HMG’s December 31, 2021 balance sheet information was recast to conform with the new reporting structure. See Note 13 - Segments and Related Information. Basis of Presentation The accompanying consolidated financial statements are unaudited and have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and with the instructions for Form 10-Q and Rule 10-01 of Regulation S-X. Pursuant to these rules and regulations, certain information and footnote disclosures normally included in the annual audited consolidated financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. The accompanying consolidated balance sheet as of December 31, 2021 is derived from the Company’s audited financial statements as of that date. Because certain information and footnote disclosures have been condensed or omitted, these consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto as of and for the year ended December 31, 2021 contained in the Company’s 2021 Annual Report on Form 10-K (the “2021 Form 10-K”). In management’s opinion, all normal and recurring adjustments considered necessary for a fair presentation of the financial position, results of operations and cash flows for the periods presented have been included. When necessary, certain prior year amounts have been reclassified to conform with the current period presentation, including for the first quarter 2022 change in segment balance sheet information for HMG, as discussed above. In addition, in the fourth quarter of 2021, the Company updated its presentation of gains or losses, net, from the sale of property and equipment to include such amounts within general and administrative expenses. Previously, such gains or losses were included within other income or expense. Interim period operating results do not necessarily indicate the results that may be expected for any other interim period or for the full fiscal year. The Company believes that the disclosures made in these consolidated financial statements are adequate to make the information not misleading. Principles of Consolidation The accompanying consolidated financial statements include MasTec, Inc. and its subsidiaries and include the accounts of all majority owned subsidiaries over which the Company exercises control and, when applicable, entities in which the Company has a controlling financial interest. All significant intercompany balances and transactions have been eliminated in consolidation. Other parties’ interests in entities that MasTec consolidates are reported as non-controlling interests within equity, except for mandatorily redeemable non-controlling interests, which are recorded within other liabilities. Net income or loss attributable to non-controlling interests is reported as a separate line item below net income or loss. The Company applies the equity method of accounting for its investments in entities for which it does not have a controlling financial interest, but over which it has the ability to exert significant influence. For equity investees in which the Company has an undivided interest in the assets, liabilities and profits or losses of an unincorporated entity, but does not exercise control over the entity, the Company consolidates its proportional interest in the accounts of the entity. Translation of Foreign Currencies The assets and liabilities of foreign subsidiaries with a functional currency other than the U.S. dollar are translated into U.S. dollars at period-end exchange rates, with resulting translation gains or losses included within other comprehensive income or loss. Revenue and expenses are translated into U.S. dollars at average rates of exchange during the applicable period. Substantially all of the Company’s foreign operations use their local currency as their functional currency. For foreign operations for which the local currency is not the functional currency, the operation’s non-monetary assets are remeasured into U.S. dollars at historical exchange rates. All other accounts are remeasured at current exchange rates. Gains or losses from remeasurement are included in other income or expense, net. Currency gains or losses resulting from transactions executed in currencies other than the functional currency are included in other income or expense, net. In these consolidated financial statements, “$” means U.S. dollars unless otherwise noted. Management Estimates The preparation of consolidated financial statements in accordance with U.S. GAAP requires the use of estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. These estimates are based on historical experience and various other assumptions that management believes to be reasonable under the circumstances, including the potential future effects of macroeconomic trends and events, such as rising inflation and interest rate levels; climate-related matters; market, regulatory and industry factors; global events, such as the ongoing military conflict in Ukraine; and public health matters, such as the COVID-19 pandemic. These estimates form the basis for making judgments about the Company’s operating results and the carrying values of assets and liabilities that are not readily apparent from other sources. While management believes that such estimates are reasonable when considered in conjunction with the Company’s consolidated financial position and results of operations taken as a whole, actual results could differ materially from these estimates. Key estimates include: the recognition of revenue and project profit or loss, which the Company defines as project revenue, less project costs of revenue, including project-related depreciation, in particular, on construction contracts accounted for under the cost-to-cost method, for which the recorded amounts require estimates of costs to complete and the amount and probability of variable consideration included in the contract transaction price; fair value estimates, including those related to acquisitions, valuations of goodwill, intangible and other assets, acquisition-related contingent consideration and other liabilities, equity investments and long-lived assets; allowances for credit losses; asset lives used in computing depreciation and amortization; fair values of financial instruments; self-insurance liabilities; other accruals and allowances; income taxes; and the estimated effects of litigation and other contingencies. General Economic Conditions, including the Effects of COVID-19 The Company has experienced, and may continue to experience, direct and indirect negative effects on its business and operations from negative economic conditions, including recent inflationary effects on fuel prices, labor and materials costs, rising interest rates and supply chain disruptions that have limited the availability of products. The Company may also experience negative effects from possible longer-term changes in consumer and customer behavior resulting from the effects of the COVID-19 pandemic. The COVID-19 pandemic disrupted business activities and global economic conditions beginning in 2020 and has negatively affected the Company’s operations during the same period. The Company has taken steps to mitigate the effects of the COVID-19 pandemic on its business, and its business model has, thus far, proven resilient. While the adverse effects of the COVID-19 pandemic have begun to subside, its effects vary by region, and uncertainties arising from the COVID-19 pandemic could continue to disrupt economic conditions and business activities, particularly as new variants arise. The extent to which general economic conditions and the COVID-19 pandemic, including its emerging variants, could affect the Company’s business, operations and financial results is uncertain as it will depend upon numerous evolving factors that management may not be able to accurately predict, and, therefore, any future impacts on the Company’s business, financial condition and/or results of operations cannot be quantified or predicted with specificity. The Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”), which was enacted in response to the effects of the COVID-19 pandemic, permitted deferral and/or reduction of certain federal and payroll tax amounts, certain of which the Company pursued. As of June 30, 2022, payroll tax deferrals under the CARES Act, the amount of which is due by December 31, 2022, totaled approximately $42 million. Significant Accounting Policies Revenue Recognition The Company recognizes revenue from contracts with customers when, or as, control of promised services and goods is transferred to customers. The amount of revenue recognized reflects the consideration to which the Company expects to be entitled in exchange for the services and goods transferred. The Company primarily recognizes revenue over time utilizing the cost-to-cost measure of progress, which best depicts the continuous transfer of control of goods or services to the customer, and correspondingly, when performance obligations are satisfied for the related contracts. Contracts. The Company derives revenue primarily from construction projects performed under: (i) master and other service agreements, which generally provide a menu of available services in a specific geographic territory that are utilized on an as-needed basis, and are typically priced using either a time and materials or a fixed price per unit basis; and (ii) contracts for specific projects requiring the construction and installation of an entire infrastructure system, or specified units within an infrastructure system, which are subject to multiple pricing options, including fixed price, unit price, time and materials, or cost plus a markup. Revenue derived from projects performed under master service and other service agreements totaled 54% and 32% of consolidated revenue for the three month periods ended June 30, 2022 and 2021, respectively, and totaled 56% and 31% for the six month periods ended June 30, 2022 and 2021, respectively. For certain master service and other service agreements, revenue is recognized at a point in time, primarily for install-to-the-home and certain other wireless services in the Company’s Communications segment. This is generally when the work order has been fulfilled, which is typically the same day the work is initiated. Point in time revenue accounted for approximately 4% of consolidated revenue in each of the three and six month periods ended June 30, 2022 and 2021. Substantially all of the Company’s other revenue is recognized over time. The total contract transaction price and cost estimation processes used for recognizing revenue over time under the cost-to-cost method is based on the professional knowledge and experience of the Company’s project managers, engineers and financial professionals. Management reviews estimates of total contract transaction price and total project costs on an ongoing basis. Changes in job performance, job conditions and management’s assessment of expected variable consideration are factors that influence estimates of the total contract transaction price, total costs to complete those contracts and the Company’s profit recognition. Changes in these factors could result in revisions to revenue in the period in which the revisions are determined, which could materially affect the Company’s consolidated results of operations for that period. Provisions for losses on uncompleted contracts are recorded in the period in which such losses are determined. For both the six month periods ended June 30, 2022 and 2021, project profit was affected by less than 5% as a result of changes in contract estimates included in projects that were in process as of December 31, 2021 and 2020. Changes in recognized revenue, net, as a result of changes in total contract transaction price estimates, including from variable consideration, from performance obligations satisfied or partially satisfied in prior periods, for the three month periods ended June 30, 2022 and 2021, totaled a net reduction of approximately $0.6 million and a net increase of approximately $30.5 million, respectively. For the six month periods ended June 30, 2022 and 2021, such changes totaled net increases of approximately $8.8 million and $37.0 million, respectively. Performance Obligations. A performance obligation is a contractual promise to transfer a distinct good or service to a customer. The transaction price of a contract is allocated to each distinct performance obligation and recognized as revenue when or as the performance obligation is satisfied. The vast majority of the Company’s performance obligations are completed within one year. Remaining performance obligations represent the amount of unearned transaction prices under contracts for which work is wholly or partially unperformed, including the Company’s share of unearned transaction prices from its proportionately consolidated non-controlled joint ventures. As of June 30, 2022, the amount of the Company’s remaining performance obligations was $5.2 billion. Based on current expectations, the Company anticipates it will recognize approximately $2.8 billion of its remaining performance obligations as revenue during 2022, with the majority of the remaining balance expected to be recognized in 2023. Variable Consideration. Transaction prices for the Company’s contracts may include variable consideration, which comprises items such as change orders, claims and incentives. Management estimates variable consideration for a performance obligation utilizing estimation methods that it believes best predict the amount of consideration to which the Company will be entitled. Management’s estimates of variable consideration and the determination of whether to include estimated amounts in transaction prices are based largely on engineering studies and legal opinions, past practices with the customer, specific discussions, correspondence or preliminary negotiations with the customer and all other relevant information that is reasonably available at the time of the estimate. To the extent unapproved change orders, claims and other variable consideration reflected in transaction prices are not resolved in the Company’s favor, or to the extent incentives reflected in transaction prices are not earned, there could be reductions in, or reversals of, previously recognized revenue. As of June 30, 2022 and December 31, 2021, the Company included approximately $165 million and $104 million, respectively, of change orders and/or claims in transaction prices for certain contracts that were in the process of being resolved in the ordinary course of business, including through negotiation, arbitration and other proceedings. These transaction price adjustments, when earned, are included within contract assets or accounts receivable, net of allowance, as appropriate. As of both June 30, 2022 and December 31, 2021, these change orders and/or claims primarily related to certain projects in the Company’s Clean Energy and Infrastructure and Power Delivery segments. The Company actively engages with its customers to complete the final approval process and generally expects these processes to be completed within one year. Amounts ultimately realized upon final agreement by customers could be higher or lower than such estimated amounts. Recently Issued Accounting Pronouncements The discussion below describes the effects of recent accounting pronouncements, as updated from the discussion in the Company’s 2021 Form 10-K. Recent Accounting Pronouncements In October 2021, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (“ASU 2021-08”) to improve consistency for revenue recognition in the post-acquisition period for acquired contracts as compared to contracts entered into subsequent to acquisition. ASU 2021-08 requires an acquirer to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606, Revenue from Contracts with Customers, rather than at fair value. ASU 2021-08 is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2022, with early adoption permitted. The Company does not expect that this ASU will have a material effect on its consolidated financial statements.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings or loss per share is computed by dividing net income or loss attributable to MasTec by the weighted average number of common shares outstanding for the period, which excludes non-participating unvested restricted share awards. Diluted earnings per share is computed by dividing net income attributable to MasTec by the weighted average number of fully diluted shares, as calculated primarily under the treasury stock method, which includes the potential effect of dilutive common stock equivalents, such as issued but unvested restricted shares. If the Company reports a loss, rather than income, the computation of diluted loss per share excludes the effect of dilutive common stock equivalents, as their effect would be anti-dilutive. For the six month period ended June 30, 2022, the Company reported a net loss, which resulted in the exclusion of approximately 1,173,000 weighted average common stock equivalents from the calculation of diluted net loss per share for the related period. The following table provides details underlying the Company’s earnings per share calculations for the periods indicated (in thousands): For the Three Months Ended June 30, For the Six Months Ended June 30, 2022 2021 2022 2021 Net income (loss) attributable to MasTec: Net income (loss) - basic (a) $ 16,212 $ 75,451 $ (18,766) $ 141,100 Fair value gain (loss) related to resolved contingent payments (b) $ 1,025 $ — $ 1,025 $ — Net income (loss) - diluted (a) $ 15,187 $ 75,451 $ (19,791) $ 141,100 Weighted average shares outstanding: Weighted average shares outstanding - basic (c) 74,445 72,501 74,615 72,470 Dilutive common stock equivalents (d)(e) 1,092 1,475 32 1,443 Weighted average shares outstanding - diluted 75,537 73,976 74,647 73,913 (a) For basic net income, calculated as total net income or loss less amounts attributable to non-controlling interests. For diluted net income, calculated as total net income or loss, less amounts attributable to non-controlling interests, adjusted for the fair value gain or loss, if any, related to additional contingent payments to the former owners of an acquired business for which the contingency has been resolved as of the respective period. See discussion above and in Note 3 – Acquisitions, Goodwill and Other Intangible Assets. (b) For the three and six month periods ended June 30, 2022, represents the fair value gain or loss related to additional contingent payments for which the contingency has been resolved as of June 30, 2022. See Note 3 – Acquisitions, Goodwill and Other Intangible Assets for additional information. (c) For the three and six month periods ended June 30, 2022, basic shares include approximately 132,000 and 101,000 weighted average shares, respectively, related to additional contingent payments. (d) For the three and six month periods ended June 30, 2022, weighted average anti-dilutive common stock equivalents totaled approximately 178,000 and 1,273,000 respectively, and for the three and six month periods ended June 30, 2021, totaled approximately 1,000 and 2,000, respectively. (e) For the three and six month periods ended June 30, 2022, common stock equivalents included approximately 1,000 and 32,000 weighted average shares, respectively, related to additional contingent payments to the former owners of an acquired business. For the six month period ended June 30, 2022, common stock equivalents were anti-dilutive except to the extent of the common stock equivalents associated with the additional contingent payments. For the three and six month periods ended June 30, 2022, the Company repurchased approximately 936,000 and 1,124,000 shares of its common stock, respectively, the effect of which on the Company’s weighted average shares outstanding for the respective periods was a reduction of approximately 554,000 and 330,000 shares. See Note 11 – Equity for details of the Company’s share repurchase transactions. Additionally, in May 2022 and December 2021, the Company iss ued approximately 133,000 and 1,975,000 sha

Acquisitions, Goodwill, and Oth

Acquisitions, Goodwill, and Other Intangible Assets	6 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Acquisitions, Goodwill, and Other Intangible Assets	Acquisitions, Goodwill and Other Intangible Assets The following table provides a reconciliation of changes in goodwill by reportable segment for the six month period ended June 30, 2022 (in millions). Goodwill balances as of December 31, 2021 were recast in the first quarter of 2022 to reflect the change in segment reporting for the HMG acquisition, as discussed in Note 1 – Business, Basis of Presentation and Significant Accounting Policies. Goodwill was reallocated based on the estimated relative fair value of the respective HMG reporting units. See Note 13 – Segments and Related Information for additional information. Communications Clean Energy and Infrastructure Oil and Gas Power Delivery Total Goodwill Goodwill, gross, as of December 31, 2021 (a) $ 614.5 $ 166.1 $ 561.3 $ 303.4 $ 1,645.3 Accumulated impairment loss (b) — (124.7) — (124.7) Goodwill, net, as of December 31, 2021 $ 614.5 $ 166.1 $ 436.6 $ 303.4 $ 1,520.6 Additions from new business combinations 3.0 — 4.1 — 7.1 Measurement period adjustments (c) (12.7) 2.1 6.7 (38.9) (42.8) Currency translation adjustments — — (0.3) — (0.3) Goodwill, net as of June 30, 2022 $ 604.8 $ 168.2 $ 447.1 $ 264.5 $ 1,484.6 (a) The change in segment reporting for the HMG acquisition resulted in a decrease in Power Delivery segment goodwill of $23.4 million and an increase in goodwill for the Communications and Oil and Gas segments of $13.0 million and $10.4 million , respectively, as of December 31, 2021. (b) Accumulated impairment losses include the effects of currency translation gains and/or losses. (c) Represents adjustments to preliminary estimates of fair value within the measurement period of up to one year from the date of acquisition. The following table provides a reconciliation of changes in other intangible assets, net, for the period indicated (in millions): Other Intangible Assets Non-Amortizing Amortizing Trade Names Customer Relationships and Backlog Pre-Qualifications Other (a) Total Other intangible assets, gross, as of December 31, 2021 $ 34.5 $ 763.1 $ 73.9 $ 124.6 $ 996.1 Accumulated amortization (278.0) (21.4) (26.4) (325.8) Other intangible assets, net, as of December 31, 2021 $ 34.5 $ 485.1 $ 52.5 $ 98.2 $ 670.3 Additions from new business combinations — 2.1 — 0.7 2.8 Measurement period adjustments (b) — 55.8 — (10.1) 45.7 Currency translation adjustments — — (0.5) — (0.5) Amortization expense (42.8) (4.4) (6.1) (53.3) Other intangible assets, net, as of June 30, 2022 $ 34.5 $ 500.2 $ 47.6 $ 82.7 $ 665.0 (a) Consists principally of trademarks, trade names and non-compete agreements. (b) Represents adjustments to preliminary estimates of fair value within the measurement period of up to one year from the date of acquisition. Quarterly Assessment for Indicators of Impairment . During the second quarter of 2022, the Company performed a quarterly review for indicators of impairment, which considered its results for the six month period ended June 30, 2022, together with its expectations of future results, including consideration of the potential effects of shifts in timing for certain projects. In conjunction with this quarterly review, management performed a quantitative assessment of the goodwill associated with two reporting units within its Oil and Gas segment and one reporting unit within its Power Delivery segment. Based on the results of these assessments, management determined that the estimated fair values of these reporting units substantially exceeded their carrying values as of June 30, 2022. Significant changes in the assumptions or estimates used in management’s assessment, such as a reduction in profitability and/or cash flows, changes in market conditions, including decreases in market activity levels or the effects of rising inflation, including on interest rates, could result in non-cash impairment charges to goodwill and indefinite-lived intangible assets in the future. Recent Acquisitions The Company seeks to grow and diversify its business both organically and through acquisitions and/or strategic arrangements in order to deepen its market presence, broaden its geographic reach and expand its service offerings. 2022 Acquisitions. For the six month period ended June 30, 2022, MasTec completed two acquisitions, which included all of the equity interests of (i) an infrastructure construction company focusing on water, sewer and utility projects and with expertise in excavation and site work, which acquisition is included within the Company’s Oil and Gas segment and was effective in January; and (ii) a telecommunications compa ny specializing in wireline services, which acquisition is included within the Company’s Communications segment and was effective as of the end of May. The aggregate purchase price for these acquisitions was composed of approximately $15.8 million in cash, net of cash acquired and earn-out liabilities valued at approximately $1.8 million. Determination of the estimated fair values of net assets acquired and the estimated earn-out liabilities and consideration transferred was preliminary as o f June 30, 2022; as a result, further adjustments to these estimates may occur. 2021 Acquisitions. During 2021, MasTec completed fourteen acquisitions, including all of the equity interests of the following: (i) Within the Company’s Power Delivery segment: HMG, an industry-leading utility services firm providing critical infrastructure design, construction and maintenance services to the power and renewables, telecommunications, gas distribution and pipeline services end-markets, which acquisition was effective in December. In the first quarter of 2022, MasTec integrated and began reporting the results of HMG within its Power Delivery, Communications and Oil and Gas segments, as appropriate, and began reporting HMG’s corporate functions within its corporate results. See Note 13 – Segments and Related Information for additional details. During 2021, the Company also acquired an electric utility distribution contractor and a company specializing in vegetation management services for the electric and telecommunications industries, which acquisitions were effective in December; and Intren, LLC (“INTREN”), a premier specialty utility contractor primarily providing electrical distribution network services under various multi-year master service agreements to some of the nation’s largest utilities, municipalities and cooperatives, which acquisition was effective in May; (ii) within the Company’s Clean Energy and Infrastructure segment: a heavy civil infrastructure construction company focusing on transportation projects; and a heavy industrial general contractor with concrete, piping and electrical capabilities, which acquisitions were effective in February and April, respectively; (iii) within the Company’s Communications segment: a telecommunications company specializing in cabling, plant and other network services, which acquisition was effective in November; a telecommunications and utility technical services company focusing on outside plant telecommunications engineering; a telecommunications and cable services provider; and a utilities infrastructure company, providing power line construction and repair services, all of which acquisitions were effective in May; and business operations specializing in install-to-the-home services, which acquisition was effective in August; and (iv) within the Company’s Oil and Gas segment: an infrastructure construction company focusing on water, sewer and utility projects, along with expertise in site work; and a company specializing in environmental services for energy infrastructure and heavy civil projects, both of which acquisitions were effective in December; and a pipeline contractor focusing on integrity and maintenance work related to gas distribution infrastructure, which acquisition was effective in February. These acquisitions were funded with cash on hand, borrowings under the Company’s credit facility and with shares of the Company’s common stock and are subject to customary purchase price adjustments. The following table summarizes the estimated fair values of consideration paid and net assets acquired for the 2021 acquisitions, as adjusted (in millions): Acquisition consideration (a) : HMG All other Total Cash, net of cash acquired $ 402.4 $ 867.3 $ 1,269.7 Shares transferred 181.7 — 181.7 Estimated fair value of contingent consideration — 102.9 102.9 Total consideration $ 584.1 $ 970.2 $ 1,554.3 Identifiable assets acquired and liabilities assumed: Accounts receivable and contract assets $ 409.5 $ 271.2 $ 680.7 Current assets 14.6 26.7 41.3 Property and equipment 252.4 250.6 503.0 Long-term assets, primarily operating lease right-of-use assets 85.1 81.8 166.9 Amortizing intangible assets 164.6 444.2 608.8 Accounts payable (108.0) (49.3) (157.3) Current liabilities, including current portion of operating lease liabilities (151.2) (136.7) (287.9) Long-term debt, including finance lease obligations (0.2) (4.4) (4.6) Long-term liabilities, primarily operating lease liabilities and deferred income taxes (151.0) (76.5) (227.5) Total identifiable net assets $ 515.8 $ 807.6 $ 1,323.4 Goodwill 68.3 166.2 234.5 Total net assets acquired, including goodwill $ 584.1 $ 973.8 $ 1,557.9 Bargain purchase gain — (3.6) (3.6) Total consideration $ 584.1 $ 970.2 $ 1,554.3 (a) Acquisition consideration in the table above excludes approximately $65 million of measurement period adjustments for estimated payments that will be made to the sellers of HMG if certain acquired receivables are collected. Given the pass-through nature of these contingent payments, they have been excluded from total consideration and current assets in the table above. See below for related discussion. Amortizing intangible assets related to the HMG acquisition are primarily composed of customer relationships, and to a lesser extent, trade names and backlog. Customer relationship intangible assets totaled approximately $132 million, and had a weighted average life of approximately 12 years, based on HMG’s operational history and established relationships with, and the nature of, its customers, which are primarily in the utilities industry. The weighted average life of amortizing intangible assets in the aggregate for the HMG acquisition was 11 years. Amortizing intangible assets related to “All other” acquisitions are primarily composed of customer relationships and trade names, which each had a weighted average life of approximately 17 years. The aggregate weighted average life related to “All other” amortizing intangible assets was 17 years. INTREN’s acquired intangible assets, which are included within “All other” acquisitions in the table above, included a customer relationship and a trade name intangible asset representing $284 million in the aggregate, having asset lives of approximately 20 years each based on INTREN’s operational history and established relationships with, and the nature of, its customers, which are primarily in the utilities industry. Amortizing intangible assets are amortized in a manner consistent with the pattern in which the related benefits are expected to be consumed. The goodwill balances for each of the respective acquisitions, including approximately $49 million for INTREN, represent the estimated values of each acquired company’s geographic presence in key markets, assembled workforce, management team’s industry-specific project management expertise and synergies expected to be achieved from the combined operations of each of the acquired companies and MasTec. Approximately $149 million of the goodwill balance related to the 2021 acquisitions is expected to be tax deductible as of June 30, 2022. One of the Company’s fourth quarter 2021 acquisitions within its Power Delivery segment resulted in the recognition of a bargain purchase gain of $3.6 million, of which $0.2 million was recognized during the six month period ended June 30, 2022. The HMG purchase agreement provides for certain additional payments to be made to the sellers if certain acquired receivables are collected by the Company (the “Additional Payments”). Pursuant to the terms of the purchase agreement, a portion of the Additional Payments will be made in cash, with the remainder due in shares of MasTec common stock. The estimated number of potential shares that could be issued related to such Additional Payments will be based on the amounts ultimately collected and the share price as defined within the purchase agreement. Changes in the estimated fair value of potential shares that could be issued, which result from changes in MasTec’s share price as compared with the share price as defined within the purchase agreement, are reflected within other income or expense, as appropriate. An Additional Payment of approximately $29.4 million was made in May 2022, which payment was composed of approximately $18 million in cash, which payment is reflected within financing activities in the consolidated statement of cash flows, and 133,157 shares of MasTec common stock. For both the three and six month periods ended June 30, 2022, a realized gain of approximately $1 million was recognized within other income, net, in connection with this payment. In addition, the HMG purchase agreement provides for a customary net working capital adjustment. In the second quarter of 2022, this working capital adjustment was resolved, resulting in a reduction in acquisition consideration for HMG of approximately $15 million , which reduction is reflected in the table above, and for which the related receivable is included within other current assets as of June 30, 2022. This working capital adjustment had no impact on the number of shares issued in connection with the acquisition. As of June 30, 2022, t he estimated fair value of remaining Additional Payments was approximately $32 million , which amount is included within other current liabilities in the consolidated balance sheet and includes the effect of unrealized fair value gains related to the contingent shares . For both the three and six month periods ended June 30, 2022 , unrealized fair value measurement activity related to the contingent shares totaled a gain of approximately $3.2 million , which amount is reflected within other income, net. The number of shares that would be paid in connection with the remaining Additional Payment liability as of June 30, 2022 is approximately 160,000 shares. See Note 2 – Earnings Per Share for the effect of the above referenced shares on the Company’s earnings per share calculations. Included within “All other” acquisition consideration is approximately $455 million of consideration, including estimated earn-out liabilities, for INTREN. Total cash paid for acquisitions, net, includes approximately $78 million of cash acquired. The shares of MasTec common stock transferred in connection with the HMG acquisition in the table above consisted of approximately 2.0 million shares, as determined based on the terms of the purchase agreement, valued at approximately $182 million, based on the market price of the Company’s common stock on the date of closing. The contingent consideration included in the table above is composed of earn-out liabilities, which equal a portion of the acquired companies’ earnings before interest, taxes, depreciation and amortization (“EBITDA”) in excess of thresholds agreed upon with the sellers, if applicable. The earn-out arrangements for the 2021 acquisitions generally range from one to five-year terms, as set forth in the respective purchase agreements, and are valued at approximately $103 million in the aggregate. The earn-out arrangement for the INTREN acquisition included within “All other” acquisitions had a term of less than one year. Earn-outs are generally payable annually and are recorded within other current and other long-term liabilities, as appropriate, in the consolidated balance sheets. See Note 4 - Fair Value of Financial Instruments for details pertaining to fair value estimates for the Company’s earn-out arrangements. As of June 30, 2022, the range of remaining potential undiscounted earn-out liabilities for the 2021 acquisitions was estimated to be between $4 million and $120 million; however, there is no maximum payment amount. Determination of the estimated fair values of the net assets acquired and the estimated earn-out liabilities and consideration transferred for certain of these acquisitions was preliminary as of June 30, 2022; as a result, further adjustments to these estimates may occur. Pro forma results. For the three month periods ended June 30, 2022 and 2021, unaudited supplemental pro forma revenue totaled approximately $2.3 billion and $2.5 billion, respectively, and unaudited supplemental pro forma net income totaled $20.4 million and $81.6 million, respectively. For the six month periods ended June 30, 2022 and 2021, unaudited supplemental pro forma revenue totaled approximately $4.3 billion and $4.9 billion, respectively. For the six month period ended June 30, 2022, unaudited supplemental pro forma net loss totaled approximately $15.4 million, and for the six month period ended June 30, 2021 , unaudited supplemental pro forma net income totaled approximately $125.1 million. Acquisition-related results . For the three and six month periods ended June 30, 2022, the Company’s consolidated results of operations included acquisition-related revenue of approximately $602.3 million and $1,307.0 million , respectively, including a total of $480.4 million and $1,028.5 million , respectively, for HMG and INTREN in the aggregate, and for the three and six month periods ended June 30, 2021, acquisition-related revenue totaled approximately $271.4 million and $358.2 million, respectively, including a total of $102.5 million for INTREN for both the three and six month periods ended June 30, 2021. For the three and six month periods ended June 30, 2022, the Company’s consolidated results of operations included acquisition-related net income of approximately $18.7 million and $9.4 million, respectively, based on the Company’s consolidated effective tax rates, and for the three and six month periods ended June 30, 2021, included acquisition-related net income of approximately $3.5 million and $4.7 million, respectively, based on the Company’s consolidated effective tax rates. These acquisition-related results include amortization of acquired intangible assets and acquisition integration costs, and exclude the effects of interest expense associated with consideration paid for the related acquisitions. Acquisition and integration costs . The Company incurred certain acquisition and integration costs in connection with its fourth quarter 2021 acquisitions, which costs are included within general and administrative expenses in the Company’s consolidated statements of operations. Acquisition and integration costs include i) the costs of integrating acquired entities, such as: employee termination expenses, including employee compensation relating to the elimination of certain positions that were determined to be redundant, and other integration-type costs, including facility consolidation expenses, lease termination expenses, system migration expenses, training, operating cost redundancies and other integration costs, as well as ii) legal, professional and other fees associated with the consummation of these acquisitions. The Company is currently in the process of integrating these acquisitions and expects to incur additional acquisition and integration expenses in 2022. Acquisition and integration costs for the three and six months period ended June 30, 2022 totaled approximately $12.5 million and $26.1 million, respectively, and as of June 30, 2022, approximately $1.5 million was included within current liabilities within the consolidated balance sheets related to such costs. IEA Acquisition. In July 2022, MasTec announced that it entered into a definitive agreement under which MasTec will acquire all of the outstanding shares of Infrastructure and Energy Alternatives, Inc. (“IEA”), a premier clean energy and infrastructure services provider, which acquisition is expected to close at the end of the fourth quarter of 2022, subject to IEA shareholder approval, regulatory approvals and other customary closing conditions. IEA is expected to be included within the Company’s Clean Energy and Infrastructure segment. Under the terms of the agreement, MasTec will acquire IEA in a cash and stock transaction valued at $14.00 per IEA share, composed of 75% cash ($10.50 per IEA share) and 25% stock consideration ($3.50 per IEA share). This acquisition will be funded with cash on hand, borrowings under the Company’s senior secured credit facility and additional debt financing. The Company intends to finance at least a portion of the cash required in connection with the transaction with a bridge facility, pursuant to which certain lenders have committed to provide a 364-day senior unsecured bridge term loan facility, or, as an alternative to the bridge facility, with the proceeds from the Term Facilities (as defined in Note 7 - Debt), for which it has also received bank commitments. See Note 7 - Debt for additional information.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company’s financial instruments are primarily composed of cash and cash equivalents, accounts and notes receivable, cash collateral deposited with insurance carriers, life insurance assets, equity investments, certain other investments, deferred compensation plan assets and liabilities, accounts payable and other current liabilities, acquisition-related contingent consideration and additional contingent payments, 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, including for mandatorily redeemable non-controlling interests (together, “Earn-outs”), that are contingent upon the acquired business achieving certain levels of earnings in the future. As of June 30, 2022 and December 31, 2021, the estimated fair value of the Company’s Earn-out liabilities totaled $135.3 million and $160.2 million, respectively, of which $13.9 million related to mandatorily redeemable non-controlling interests as of both periods. Earn-out liabilities included within other current liabilities totaled approximately $39.6 million and $38.8 million as of June 30, 2022 and December 31, 2021, respectively. 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, as of June 30, 2022, ranged from 12.0% to 14.0%, with a weighted average rate of 12.5% based on the relative fair value of each instrument, 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 payment amounts for the Company’s Earn-out liabilities will be determined based on the actual results achieved by the acquired businesses. As of June 30, 2022, the range of potential undiscounted Earn-out liabilities was estimated to be between $17 million and $183 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. There were no additions from new business combinations for the three month period ended June 30, 2022, and additions for the six month period ended June 30, 2022 totaled approximately $1.7 million. For both the three and six month periods ended June 30, 2021, additions from new business combinations totaled $40.1 million. Measurement period adjustments totaled an increase of approximately $3.4 million for the three month period ended June 30, 2022 and related to the Company’s Oil and Gas segment, and for the six month period ended June 30, 2022, totaled an increase, net, of approximately $1.5 million and related to a net increase in the Company’s Oil and Gas segment, partially offset by a decrease in its Communications segment . There were no measurement period adjustments in either of the three or six month periods ended June 30, 2021. For both the three and six month periods ended June 30, 2022, fair value adjustments totaled a net decrease of a pproximately $1.3 million, and related primarily to the Company’s Communications segment. Fair value adjustments for the three and six month periods ended June 30, 2021 totaled net decreases of $8.9 million and $9.3 million, respectively, and related to decreases in the Company’s Oil and Gas and Clean Energy and Infrastructure segments, partially offset by increases in the Company’s Communications segment. Earn-out payments totaled $26.8 million for both the three and six month periods ended June 30, 2022, and totaled $46.2 million for both the three and six month periods ended June 30, 2021, including approximately $2.1 million related to mandatorily redeemable non-controlling interests. Equity Investments The Company’s equity investments as of June 30, 2022 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”); (ii) a 15% equity interest in Cross Country Infrastructure Services, Inc. (“CCI”); (iii) the Company’s 50% equity interests in each of FM Technology Holdings, LLC, FM USA Holdings, LLC and All Communications Solutions Holdings, LLC, collectively “FM Tech”; (iv) the Company’s interests in certain proportionately consolidated non-controlled contractual joint ventures; 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. The Company has determined that certain of its investment arrangements are variable interest entities (“VIEs”). As of June 30, 2022, 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, if any, less impairment (“adjusted cost basis”). As of June 30, 2022 and December 31, 2021, the aggregate carrying value of the Company’s equity investments, including equity investments measured on an adjusted cost basis, totaled approximately $288 million and $267 million, respectively. As of both June 30, 2022 and December 31, 2021, equity investments measured on an adjusted cost basis, including the Company’s $15 million investment in CCI, totaled approximately $20 million. There were no impairments related to these investments in any of the three or six month periods ended June 30, 2022 or 2021. The Waha JVs. The Waha JVs own and operate certain pipeline infrastructure that transports natural gas to the Mexican border for export. The Company’s investments in the Waha JVs are accounted for as equity method investments. 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 $15.0 million for the three and six month periods ended June 30, 2022, respectively, and totaled $8.6 million and $16.3 million for the three and six month periods ended June 30, 2021, respectively. Distributions of earnings from the Waha JVs, which are included within operating cash flows, totaled $4.6 million and $7.6 million for the three and six month periods ended June 30, 2022, respectively. There were no distributions of earnings in either of the three or six month periods ended June 30, 2021. Cumulative undistributed earnings from the Waha JVs, which represents cumulative equity in earnings for the Waha JVs less distributions of earnings, totaled $102.3 million as of June 30, 2022. 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 equity method goodwill associated with capitalized investment costs, totaled approximately $245 million and $216 million as of June 30, 2022 and December 31, 2021, 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 (the “Waha JV 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, 2022, the Company’s proportionate share of unrecognized unrealized activity on the Waha JV swaps totaled gains of approximately $10.4 million and $28.7 million, respectively, or $7.8 million and $21.6 million, net of tax, respectively. For the three and six month periods ended June 30, 2021, the Company’s proportionate share of unrecognized unrealized activity on the Waha JV swaps totaled losses of approximately $4.9 million and gains of approximately $12.3 million, respectively, or $3.7 million and $9.4 million, net of tax, respectively. Other Investments. The Company has equity interests in certain telecommunications entities that are accounted for as equity method investments. As of both June 30, 2022 and December 31, 2021, the Company had an aggregate investment of approximately $20 million in these entities, including $18 million and $17 million for FM Tech, respectively, as of June 30, 2022 and December 31, 2021. For the three and six month periods ended June 30, 2022, the Company made equity contributions related to its investments in telecommunications entities totaling approximately $0.6 million and $1.1 million, respectively. For the three month period ended June 30, 2021, the Company made no equity contributions related to its investments in these entities, and for the six month period ended June 30, 2021, made equity contributions totaling approximately $2.0 million. Equity in losses, net, related to the Company’s proportionate share of income from these telecommunications entities totaled approximately $0.5 million and $0.9 million for the three and six month periods ended June 30, 2022, respectively, and equity in losses, net, totaled approximately $1.0 million for both the three and six month periods ended June 30, 2021. The difference between the carrying amount of these investments and the Company’s underlying equity in the net assets of the respective entities relates primarily to equity method goodwill associated with assembled workforce for each of these entities. Certain of these telecommunications entities provide services to MasTec. Expense recognized in connection with services provided by these entities totaled $1.6 million and $2.5 million for the three and six month periods ended June 30, 2022, respectively, and totaled $2.4 million and $4.1 million for the three and six month periods ended June 30, 2021, respectively. As of June 30, 2022 and December 31, 2021, related amounts payable to these entities totaled approximately $0.1 million and $0.3 million, respectively. In addition, the Company had an employee leasing arrangement with one of these entities and has advanced certain amounts to these entities. For the three and six month periods ended June 30, 2022, there were no employee lease expenses or advances. Employee lease expenses and advances to these entities for the three month period ended June 30, 2021 were de minimis, and for the six month period ended June 30, 2021, amounts advanced totaled $0.2 million. As of June 30, 2022 and December 31, 2021, employee lease and advances receivable totaled approximately $0.6 million and $0.9 million, respectively. The Company has 49% equity interests in certain entities included within its Power Delivery segment that are accounted for as equity method investments, for which its aggregate investment as of both June 30, 2022 and December 31, 2021 totaled approximately $4 million. For the three and six month periods ended June 30, 2022, equity in losses, net, related to these entities totaled approximately $0.2 million and $0.3 million, respectively. Certain of these entities provide construction services to MasTec. Expense recognized in connection with construction services provided by these entities totaled approximately $1.4 million and $5.0 million for the three and six month periods ended June 30, 2022, respectively. As of June 30, 2022, related amounts payable totaled approximately $0.1 million. In addition, the Company has line of credit arrangements with these investees, which, as of June 30, 2022 and December 31, 2021, provide for up to $4.5 million and $8.5 million, respectively, of borrowing availability, of which $0.5 million and $0.4 million, respectively, was drawn, which amounts are included within other current assets in the consolidated balance sheets. During the first quarter of 2021, MasTec committed to fund up to $2.5 million for a 75% equity interest in Confluence Networks, LLC (“Confluence”), an undersea fiber-optic communications systems developer and VIE. As of June 30, 2022, a total of $1.9 million had been funded, of which $0.2 million was funded during the second quarter of 2022. During the three and six month periods ended June 30, 2021, $0.6 million and $1.0 million, respectively, of funding was provided. Equity in losses related to the Company’s proportionate share of this investment totaled $0.1 million and $0.3 million for the three and six month periods ended June 30, 2022, and totaled $0.3 million for both the three and six month periods ended June 30, 2021. As of June 30, 2022, MasTec had less than a majority of the members on the board of Confluence and determined that it did not have a controlling financial interest, and therefore does not have the power to direct the primary activities that most significantly impact its economic performance, nor is it the primary beneficiary. The Company has the ability to exert significant influence over Confluence, and as a result, accounts for its investment in Confluence as an equity method investment as of June 30, 2022. The Company has certain equity investments in American Virtual Cloud Technologies, Inc. (“AVCT”), a publicly-traded company in which the Company currently has no active involvement. The Company’s investments in AVCT are included within other current assets in its consolidated financial statements, and include shares of AVCT common stock, which are equity securities, and warrants for the purchase of AVCT common stock, which are derivative financial instruments. Previously, the Company’s investment in AVCT included debentures that were convertible into shares of AVCT common stock, which were available-for-sale securities. In the third quarter of 2021, the Company’s investment in AVCT convertible debentures was automatically converted into shares of AVCT common stock. As of June 30, 2022 and December 31, 2021, the Company’s ownership interest in AVCT’s common stock totaled approximately 3% for both periods, and its aggregate ownership interest, assuming the exercise of all legally exercisable warrants into AVCT common stock, totaled approximately 5% and 6%, respectively. As of June 30, 2022 and December 31, 2021, the aggregate fair value of the Company’s investments in AVCT approximated $1 million and $8 million, respectively, with an aggregate cost approximating $6 million as of both periods. Unrealized fair value measurement activity related to the AVCT securities, which is based on the market price of its securities, a Level 1 input, and is recorded within other income or expense, net, totaled losses of approximately $2.2 million and $7.1 million for the three and six month periods ended June 30, 2022. For the three month period ended June 30, 2021, unrealized fair value measurement gains, net, totaled approximately $1.0 million, primarily related to the AVCT shares, and for the six month period ended June 30, 2021, unrealized fair value measurement losses, net, on the AVCT securities were de minimis. Unrealized fair value measurement activity related to the AVCT convertible debentures based on Level 3 inputs and recognized within other comprehensive income for the three and six month periods ended June 30, 2021, totaled gains of approximately $0.3 million and $1.3 million, respectively, or $0.2 million and $1.0 million, net of tax, respectively. Senior Notes

Accounts Receivable, Net of All

Accounts Receivable, Net of Allowance, and Contract Assets and Liabilities	6 Months Ended
	Jun. 30, 2022
Receivables [Abstract]
Accounts Receivable, Net of Allowance, and Contract Assets and Liabilities	Accounts Receivable, Net of Allowance, and Contract Assets and Liabilities The following table provides details of accounts receivable, net of allowance, and contract assets (together, “accounts receivable, net”) as of the dates indicated (in millions): June 30, December 31, Contract billings $ 1,022.9 $ 1,027.1 Less allowance (8.3) (7.8) Accounts receivable, net of allowance $ 1,014.6 $ 1,019.3 Retainage 273.3 296.8 Unbilled receivables 1,246.1 931.1 Contract assets $ 1,519.4 $ 1,227.9 Contract billings represent the amount of performance obligations that have been billed but not yet collected, whereas contract assets consist of unbilled receivables and retainage. Unbilled receivables represent the estimated value of unbilled work for projects with performance obligations recognized over time. Retainage represents a portion of the contract amount that has been billed, but for which the contract allows the customer to retain a portion of the billed amount until final contract settlement (generally, from 5% to 10% of contract billings). The increase in unbilled receivables as of June 30, 2022 was driven primarily by ordinary course project activity associated with higher levels of revenue. For the six month period ended June 30, 2022, provisions for credit losses totaled $0.5 million, and for the six month period ended June 30, 2021, provisions for credit losses totaled a recovery of $11.0 million resulting from successful collection of previously reserved amounts. Impairment losses on contract assets were not material in either period. Contract liabilities consist primarily of deferred revenue. Under certain contracts, the Company may be entitled to invoice the customer and receive payments in advance of performing the related contract work. In those instances, the Company recognizes a liability for advance billings in excess of revenue recognized, which is referred to as deferred revenue. Contract liabilities also include the amount of any accrued project losses. Total contract liabilities, including accrued project losses, totaled approximately $298.6 million and $314.0 million as of June 30, 2022 and December 31, 2021, respectively, of which deferred revenue comprised approximately $282.6 million and $296.1 million, respectively. For the three and six month periods ended June 30, 2022, the Company recognized revenue of approximately $59.5 million and $245.7 million, respectively, related to amounts that were included in deferred revenue as of December 31, 2021, resulting primarily from the advancement of physical progress on the related projects during the respective periods. The Company is party to non-recourse financing arrangements in the ordinary course of business, under which certain receivables are settled with the customer’s bank in return for a nominal fee. Discount charges related to these arrangements, which are included within interest expense, net, totaled approximately $1.5 million and $0.8 million for the three month periods ended June 30, 2022 and 2021, respectively, and totaled $2.5 million and $1.5 million, respectively, for the six month periods ended June 30, 2022 and 2021.

Property and Equipment, Net

Property and Equipment, Net	6 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	Property and Equipment, Net The following table provides details of property and equipment, net, including property and equipment held under finance leases as of the dates indicated (in millions): June 30, December 31, Land $ 55.8 $ 40.0 Buildings and leasehold improvements 86.2 94.1 Machinery and equipment 2,616.6 2,411.0 Office furniture and equipment 275.8 262.6 Construction in progress 74.4 32.7 Total property and equipment $ 3,108.8 $ 2,840.4 Less accumulated depreciation and amortization (1,537.0) (1,404.3) Property and equipment, net $ 1,571.8 $ 1,436.1

Debt

Debt	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Debt	Debt The following table provides details of the carrying values of debt as of the dates indicated (in millions): Description Maturity Date June 30, December 31, Senior credit facility: November 1, 2026 Revolving loans $ 985.5 $ 772.3 Term loan 350.0 350.0 4.50% Senior Notes August 15, 2028 600.0 600.0 Finance lease and other obligations 351.4 310.3 Total debt obligations $ 2,286.9 $ 2,032.6 Less unamortized deferred financing costs (16.8) (18.5) Total debt, net of deferred financing costs $ 2,270.1 $ 2,014.1 Current portion of long-term debt 152.0 137.9 Long-term debt $ 2,118.1 $ 1,876.2 Senior Credit Facility As of June 30, 2022, the Company’s senior unsecured credit facility (the “Credit Facility”) had aggregate borrowing commitments totaling approximately $2.0 billion, which amount is composed of $1.65 billion of revolving commitments and a term loan with an original principal amount of $350 million (the “Term Loan”). The Term Loan is subject to amortization in quarterly principal installments of approximately $2.2 million commencing in March 2023, which quarterly installments increase to approximately $4.0 million in March 2025 until maturity. Quarterly principal installments on the Term Loan are subject to adjustment, if applicable, for certain prepayments. As of June 30, 2022 and December 31, 2021, outstanding revolving loans, which included $0.5 million and $32.3 million, respectively, of borrowings denominated in foreign currencies, accrued interest at weighted average rates of approximately 2.61% and 2.32% per annum, respectively. The Term Loan accrued interest at rates of 2.92% and 1.35% as of June 30, 2022 and December 31, 2021, respectively. Letters of credit of approximately $197.5 million and $166.3 million were issued as of June 30, 2022 and December 31, 2021, respectively. As of both June 30, 2022 and December 31, 2021, letter of credit fees accrued at 0.4375% per annum for performance standby letters of credit and at 1.25% per annum for financial standby letters of credit. Outstanding letters of credit mature at various dates and most have automatic renewal provisions, subject to prior notice of cancellation. As of June 30, 2022 and December 31, 2021, availability for revolving loans totaled $466.9 million and $711.5 million, respectively, or up to $452.5 million and $483.7 million, respectively, for new letters of credit. Revolving loan borrowing capacity included $299.5 million and $267.7 million of availability in either Canadian dollars or Mexican pesos as of June 30, 2022 and December 31, 2021, respectively. The unused facility fee as of both June 30, 2022 and December 31, 2021 accrued at a rate of 0.175% per annum. The Credit Facility is guaranteed by certain subsidiaries of the Company and the obligations under the Credit Facility are not secured. Other Credit Facilities . The Company has other credit facilities that support: (i) the working capital requirements of its foreign operations and (ii) certain letter of credit issuances. There were no outstanding borrowings under the Company’s other credit facilities as of June 30, 2022 or December 31, 2021. Additionally, the Company has a separate credit facility, under which it may issue performance standby letters of credit. As of June 30, 2022 and December 31, 2021, letters of credit issued under this facility totaled $18.3 million and $22.2 million, respectively, and accrued fees at 0.50% and 0.40% per annum, respectively. The Company’s other credit facilities are subject to customary provisions and covenants. Debt Guarantees and Covenants The 4.50% Senior Notes are fully and unconditionally guaranteed on a senior unsecured, joint and several basis by certain of the Company’s wholly-owned domestic restricted subsidiaries that guarantee its existing credit facilities. MasTec was in compliance with the provisions and covenants of its outstanding debt instruments as of both June 30, 2022 and December 31, 2021. Additional Information As of June 30, 2022 and December 31, 2021, accrued interest payable, which is recorded within other accrued expenses in the consolidated balance sheets, totaled $13.1 million and $11.7 million, respectively. For additional information pertaining to the Company’s debt instruments, see Note 7 - Debt in the Company’s 2021 Form 10-K. Bridge Facility and Term Loan Commitments In July 2022, MasTec announced that it entered into an agreement to acquire all of the outstanding shares of IEA. This acquisition will be funded with cash on hand, borrowings under the Company’s senior secured credit facility and additional debt financing. The Company intends to finance at least a portion of the cash required in connection with this transaction with a bridge facility, pursuant to which certain lenders have committed to provide a 364-day senior unsecured bridge term loan facility in an aggregate principal amount of up to $1 billion, or, as an alternative to the bridge facility, with the proceeds from the Term Facilities (as defined below), for which the Company has also received bank commitments.

Lease Obligations

Lease Obligations	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Lease Obligations	Lease Obligations In the ordinary course of business, the Company enters into agreements that provide financing for machinery and equipment and for other of its facility, vehicle and equipment needs, including related party leases. As of June 30, 2022, the Company’s leases have remaining lease terms of up to eleven years. Lease agreements may contain renewal clauses, which, if elected, generally extend the term of the lease for one Finance Leases The gross amount of assets held under finance leases as of June 30, 2022 and December 31, 2021 totaled $624.8 million and $653.5 million, respectively. Assets held under finance leases, net of accumulated depreciation Operating Leases Operating lease additions for the three month periods ended June 30, 2022 and 2021 totaled $18.4 million and $79.7 million, respectively, and for the six month periods ended June 30, 2022 and 2021, totaled $45.3 million and $85.3 million, respectively. Acquisition-related lease additions totaled $74.6 million for the six month period ended June 30, 2021. For the three month periods ended June 30, 2022 and 2021, rent expense for leases that have terms in excess of one year totaled approximately $33.9 million and $28.1 million, respectively, of which $2.5 million and $2.9 million, respectively, represented variable lease costs. For the six month periods ended June 30, 2022 and 2021, rent expense for such leases totaled approximately $67.9 million and $55.5 million, respectively, of which $5.5 million and $5.1 million, respectively, represented variable lease costs. The Company also incurred rent expense for leases with terms of one year or less totaling approximately $53.7 million and $130.8 million for the three month periods ended June 30, 2022 and 2021, respectively. Rent expense for such leases totaled approximately $159.3 million and $240.9 million for the six month periods ended June 30, 2022 and 2021, respectively. Rent expense for operating leases is generally consistent with the amount of the related payments, which payments are included within operating activities in the consolidated statements of cash flows. Additional Lease Information Future minimum lease commitments as of June 30, 2022 were as follows (in millions): Finance Leases Operating 2022, remaining six months $ 79.7 $ 48.9 2023 126.4 79.4 2024 83.3 61.8 2025 51.3 39.4 2026 11.5 25.2 Thereafter 0.4 26.8 Total minimum lease payments $ 352.6 $ 281.5 Less amounts representing interest (15.9) (16.6) Total lease obligations, net of interest $ 336.7 $ 264.9 Less current portion 147.1 88.4 Long-term portion of lease obligations, net of interest $ 189.6 $ 176.5
Lease Obligations	Lease Obligations In the ordinary course of business, the Company enters into agreements that provide financing for machinery and equipment and for other of its facility, vehicle and equipment needs, including related party leases. As of June 30, 2022, the Company’s leases have remaining lease terms of up to eleven years. Lease agreements may contain renewal clauses, which, if elected, generally extend the term of the lease for one Finance Leases The gross amount of assets held under finance leases as of June 30, 2022 and December 31, 2021 totaled $624.8 million and $653.5 million, respectively. Assets held under finance leases, net of accumulated depreciation Operating Leases Operating lease additions for the three month periods ended June 30, 2022 and 2021 totaled $18.4 million and $79.7 million, respectively, and for the six month periods ended June 30, 2022 and 2021, totaled $45.3 million and $85.3 million, respectively. Acquisition-related lease additions totaled $74.6 million for the six month period ended June 30, 2021. For the three month periods ended June 30, 2022 and 2021, rent expense for leases that have terms in excess of one year totaled approximately $33.9 million and $28.1 million, respectively, of which $2.5 million and $2.9 million, respectively, represented variable lease costs. For the six month periods ended June 30, 2022 and 2021, rent expense for such leases totaled approximately $67.9 million and $55.5 million, respectively, of which $5.5 million and $5.1 million, respectively, represented variable lease costs. The Company also incurred rent expense for leases with terms of one year or less totaling approximately $53.7 million and $130.8 million for the three month periods ended June 30, 2022 and 2021, respectively. Rent expense for such leases totaled approximately $159.3 million and $240.9 million for the six month periods ended June 30, 2022 and 2021, respectively. Rent expense for operating leases is generally consistent with the amount of the related payments, which payments are included within operating activities in the consolidated statements of cash flows. Additional Lease Information Future minimum lease commitments as of June 30, 2022 were as follows (in millions): Finance Leases Operating 2022, remaining six months $ 79.7 $ 48.9 2023 126.4 79.4 2024 83.3 61.8 2025 51.3 39.4 2026 11.5 25.2 Thereafter 0.4 26.8 Total minimum lease payments $ 352.6 $ 281.5 Less amounts representing interest (15.9) (16.6) Total lease obligations, net of interest $ 336.7 $ 264.9 Less current portion 147.1 88.4 Long-term portion of lease obligations, net of interest $ 189.6 $ 176.5

Stock-Based Compensation and Ot

Stock-Based Compensation and Other Employee Benefit Plans	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation and Other Employee Benefit Plans	Stock-Based Compensation and Other Employee Benefit Plans The Company has stock-based compensation plans, under which shares of the Company’s common stock are reserved for issuance. Under all stock-based compensation plans in effect as of June 30, 2022, there were approximately 3,404,000 shares available for future grant. Non-cash stock-based compensation expense under all plans totaled $6.8 million and $6.1 million for the three month periods ended June 30, 2022 and 2021, respectively, and totaled $13.2 million and $11.6 million for the six month periods ended June 30, 2022 and 2021, respectively. Income tax benefits associated with stock-based compensation arrangements totaled $1.2 million for both the three month periods ended June 30, 2022 and 2021. For the six month periods ended June 30, 2022 and 2021, income tax benefits totaled $3.4 million and $2.3 million, respectively, including net tax benefits related to the vesting of share-based payment awards totaling $0.9 million and $0.1 million, respectively. Restricted Shares MasTec grants restricted stock awards and restricted stock units (together, “restricted shares”) to eligible participants, which are valued based on the closing market share price of MasTec common stock (the “market price”) on the date of grant. During the restriction period, holders of restricted stock awards are entitled to vote the shares. As of June 30, 2022, total unearned compensation related to restricted shares was approximately $44.3 million, which amount is expected to be recognized over a weighted average period of approximately 2.0 years. The fair value of restricted shares that vested, which is based on the market price on the date of vesting, totaled $0.2 million and $0.5 million for the three month periods ended June 30, 2022 and 2021, respectively, and totaled $19.2 million and $11.3 million for the six month periods ended June 30, 2022 and 2021, respectively. Activity, restricted shares: (a) Restricted Per Share Weighted Average Grant Date Fair Value Non-vested restricted shares, as of December 31, 2021 1,748,685 $ 43.73 Granted 179,247 86.49 Vested (229,325) 47.34 Canceled/forfeited (9,635) 39.13 Non-vested restricted shares, as of June 30, 2022 1,688,972 $ 47.81 (a) Includes 2,150 and 1,300 restricted stock units as of June 30, 2022 and December 31, 2021, respectively. Employee Stock Purchase Plans The Company has certain employee stock purchase plans (collectively, “ESPPs”), under which shares of the Company’s common stock are available for purchase by eligible participants. Under the ESPPs, eligible participants are permitted to purchase MasTec, Inc. common stock at 85% of the fair market value of the shares on the date of purchase, which occurs on the last trading day of each two week offering period. At the Company’s discretion, share purchases may be satisfied by delivering newly issued common shares or common shares reacquired on the open market or in privately negotiated transactions. For the three month periods ended June 30, 2022 and 2021, 31,888 shares and 20,191 shares, respectively, were purchased by participants under the Company’s ESPPs for $1.8 million in both periods, and for the six month periods ended June 30, 2022 and 2021, 56,625 shares and 39,033 shares, respectively, were purchased for $3.6 million and $3.2 million, respectively. All shares purchased by participants under the Company’s ESPPs for the three and six month periods ended June 30, 2022 and 2021 were reacquired by the Company on the open market. Compensation expense associated with the Company’s ESPPs totaled approximately $0.3 million and $0.2 million for the three month periods ended June 30, 2022 and 2021, respectively, and totaled approximately $0.7 million and $0.5 million for the six month periods ended June 30, 2022 and 2021, respectively.

Other Retirement Plans

Other Retirement Plans	6 Months Ended
	Jun. 30, 2022
Retirement Benefits [Abstract]
Other Retirement Plans	Other Retirement Plans Multiemployer Plans. Certain of MasTec’s subsidiaries contribute amounts to multiemployer pension and other multiemployer benefit plans and trusts (“MEPPs”). Contributions are generally based on fixed amounts per hour per employee for employees covered under these plans. Multiemployer plan contribution rates are determined annually and assessed on a “pay-as-you-go” basis based on union employee payrolls. Union payrolls cannot be determined for future periods because the number of union employees employed at a given time, and the plans in which they participate, vary depending upon the location and number of ongoing projects and the need for union resources in connection with those projects. Total contributions to multiemployer plans and the related number of employees covered by these plans for the periods indicated were as follows: Multiemployer Plans Covered Employees Contributions (in millions) Low High Pension Other Multiemployer Total For the Three Months Ended June 30: 2022 6,672 7,136 $ 22.3 $ 13.9 $ 36.2 2021 2,532 6,979 $ 21.7 $ 8.0 $ 29.7 For the Six Months Ended June 30: 2022 6,601 7,136 $ 39.3 $ 27.1 $ 66.4 2021 2,412 6,979 $ 44.2 $ 10.2 $ 54.4 The fluctuations in the number of employees covered under multiemployer plans and associated contributions in the table above related primarily to the timing of activity for the Company’s union resource-based projects. For the three and six month periods ended June 30, 2022, multiemployer plan activity was driven primarily by acquisition-related project work within the Company’s Power Delivery operations, whereas for the three and six month periods ended June 30, 2021, activity was driven primarily by projects within the Company’s Oil and Gas operations.

Equity

Equity	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Equity	Equity Share Activity The Company’s share repurchase programs provide for the repurchase, from time to time, of MasTec common shares in open market transactions or in privately negotiated transactions in accordance with applicable securities laws. The Company’s share repurchase programs do not have an expiration date and may be modified or suspended at any time at the Company’s discretion. For the three and six month periods ended June 30, 2022, the Company repurchased 0.9 million and 1.1 million shares of its common stock, respectively, under its share repurchase programs for an aggregate purchase price of approximately $67.5 million and $81.3 million, respectively. Of the total repurchased shares, 0.1 million were repurchased in the first quarter of 2022 for $8.6 million under the Company’s December 2018 $100 million share repurchase program, which completed the program. The remaining 1.0 million shares were repurchased for $72.7 million under the Company’s March 2020 $150 million share repurchase program. There were no share repurchases under the Company’s share repurchase programs in either of the three or six month periods ended June 30, 2021. The Company may use either authorized or unissued shares or treasury shares to meet its share issuance requirement s. During the second quarter of 2022, the Company reissued 0.1 million shares of its treasury stock with a cost basis of $4.3 million in settlement of certain Additional Payments in connection with an acquisition. See Note 3 – Acquisitions, Goodwill and Other Intangible Assets for additional infor mation. As of June 30, 2022, $77.3 million was available for future share repurchases under the Company’s March 2020 share repurchase program. Accumulated Other Comprehensive Loss Unrealized foreign currency translation activity, net, for the three and six month periods ended June 30, 2022 and 2021 relates to the Company’s operations in Canada and Mexico. Unrealized investment activity, net, for the three and six month periods ended June 30, 2022 relates to activity associated with the Waha JV interest rate swaps. For the three month period ended June 30, 2021, unrealized investment activity, net, includes unrealized losses on the interest rate swaps, offset, in part, by unrealized gains on the Company’s investment in AVCT convertible debentures. For the six month period ended June 30, 2021, unrealized investment activity, net, includes unrealized gains on both the interest rate swaps and on the AVCT convertible debentures. See Note 4 - Fair Value of Financial Instruments for additional information related to the Waha JV swaps and the AVCT convertible debentures.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesIn determining the quarterly provision for income taxes, management uses an estimated annual effective tax rate based on forecasted annual pre-tax income, permanent tax differences, statutory tax rates and tax planning opportunities in the various jurisdictions in which the Company operates. The effect of significant discrete items is separately recognized in the quarter(s) in which they occur. For the three month periods ended June 30, 2022 and 2021, the Company’s consolidated effective tax rates were 10.9% and 26.3%, respectively, and for the six month periods ended June 30, 2022 and 2021, were 37.4% and 28.4%, respectively. The Company’s effective tax rate for the six month period ended June 30, 2022 included a net tax benefit of approximately $1.0 million related to the vesting of share-based payment awards as well as a benefit of approximately $2.0 million from the true-up of certain prior year non-deductible expenses, whereas for the six month period ended June 30, 2021, included the negative effect of $2.3 million related to non-deductible share-based compensation.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies MasTec is subject to a variety of legal cases, claims and other disputes that arise from time to time in the ordinary course of its business, including project contract price disputes, other project-related liabilities and acquisition purchase price disputes. MasTec cannot provide assurance that it will be successful in recovering all or any of the potential damages it has claimed or in defending claims against the Company. The outcome of such cases, claims and disputes cannot be predicted with certainty and an unfavorable resolution of one or more of them could have a material adverse effect on the Company’s business, financial condition, results of operations and cash flows. In the third quarter of 2021, a settlement was finalized in favor of MasTec for approximately $25 million. As of June 30, 2022 , $12 million , net of related settlement costs, is due in 2022. Other Commitments and Contingencies Leases . In the ordinary course of business, the Company enters into non-cancelable operating leases for certain of its facility, vehicle and equipment needs, including related party leases. See Note 8 - Lease Obligations and Note 15 - Related Party Transactions. Letters of Credit. In the ordinary course of business, the Company is required to post letters of credit for its insurance carriers and surety bond providers and in support of performance under certain contracts as well as certain obligations associated with the Company’s equity investments and other strategic arrangements, including its variable interest entities. Such letters of credit are generally issued by a bank or similar financial institution. The letter of credit commits the issuer to pay specified amounts to the holder of the letter of credit under certain conditions. If this were to occur, the Company would be required to reimburse the issuer of the letter of credit, which, depending upon the circumstances, could result in a charge to earnings. As of June 30, 2022 and December 31, 2021, there were $215.8 million and $188.5 million, respectively, of letters of credit issued under the Company’s credit facilities. The Company is not aware of any material claims relating to its outstanding letters of credit as of June 30, 2022. Performance and Payment Bonds. In the ordinary course of business, MasTec is required by certain customers to provide performance and payment bonds for contractual commitments related to its projects. These bonds provide a guarantee to the customer that the Company will perform under the terms of a contract and that the Company will pay its subcontractors and vendors. If the Company fails to perform under a contract or to pay its subcontractors and vendors, the customer may demand that the surety make payments or provide services under the bond. The Company must reimburse the surety for expenses or outlays it incurs. As of June 30, 2022 and December 31, 2021, outstanding performance and payment bonds approximated $2,154.3 million and $2,155.2 million, respectively, and estimated costs to complete projects secured by these bonds totaled $770.7 million and $768.8 million as of June 30, 2022 and December 31, 2021, respectively. Included in these balances as of both June 30, 2022 and December 31, 2021 are $115.0 million of outstanding performance and payment bonds issued on behalf of the Company’s proportionately consolidated non-controlled contractual joint ventures, representing the Company’s proportionate share of the total bond obligation for the related projects. Investment and Strategic Arrangements. The Company holds undivided interests, ranging from 85% to 90%, in multiple proportionately consolidated non-controlled contractual joint ventures that provide infrastructure construction services for electrical transmission projects, as well as undivided interests ranging from 30% to 50% in three civil construction projects. Income and/or losses incurred by these joint ventures are generally shared proportionally by the respective joint venture members, with the members of the joint ventures jointly and severally liable for all of the obligations of the joint venture. The respective joint venture agreements provide that each joint venture partner indemnify the other party for any liabilities incurred by such joint venture in excess of its ratable portion of such liabilities. Thus, it is possible that the Company could be required to pay or perform obligations in excess of its share if the other joint venture partners fail or refuse to pay or perform their respective share of the obligations. As of June 30, 2022, the Company was not aware of material future claims against it in connection with these arrangements. Included in the Company’s cash balances as of June 30, 2022 and December 31, 2021 are amounts held by entities that are proportionately consolidated totaling $13.1 million and $14.6 million, respectively. These amounts are available to support the operations of those entities, but are not available for the Company’s other operations. The Company has other investment and strategic arrangements, under which it may incur costs or provide financing, performance, financial and/or other guarantees. See Note 4 - Fair Value of Financial Instruments and Note 15 - Related Party Transactions for additional information pertaining to the Company’s investment and strategic arrangements. Self-Insurance . MasTec maintains insurance policies for workers’ compensation, general liability and automobile liability, which are subject to per claim deductibles. The Company is self-insured up to the amount of the deductible. The Company also maintains excess umbrella coverage. The Company manages certain of its insurance liabilities indirectly through its wholly-owned captive insurance companies, which reimburse claims up to the applicable insurance limits. Cash balances held by the Company’s captive insurance companies, which totaled approximately $0.3 million as of both June 30, 2022 and December 31, 2021, are generally not available for use in the Company’s other operations. As of June 30, 2022 and December 31, 2021, MasTec’s estimated liability for unpaid claims and associated expenses, including incurred but not reported losses related to its insurance policies, totaled $190.8 million and $189.8 million, respectively, of which $125.4 million and $126.5 million, respectively, were reflected within other long-term liabilities in the consolidated balance sheets. MasTec also maintains an insurance policy with respect to employee group medical claims, which is subject to annual per employee maximum losses. MasTec’s estimated liability for employee group medical claims totaled $4.4 million and $4.2 million as of June 30, 2022 and December 31, 2021, respectively. The Company is required to post collateral, generally in the form of letters of credit, surety bonds and cash to certain of its insurance carriers. Insurance-related letters of credit for the Company’s workers’ compensation, general liability and automobile liability policies amounted to $154.3 million and $125.7 million as of June 30, 2022 and December 31, 2021, respectively. As of both June 30, 2022 and December 31, 2021, outstanding surety bonds related to self-insurance programs amounted to $52.9 million. Collective Bargaining Agreements and Multiemployer Plans. As discussed in Note 10 - Other Retirement Plans, certain of MasTec’s subsidiaries are party to various collective bargaining agreements with unions representing certain of their employees, which require the Company to pay specified wages, provide certain benefits and contribute certain amounts to MEPPs. The Employee Retirement Income Security Act of 1974, as amended by the Multiemployer Pension Plan Amendments Act of 1980 (collectively, “ERISA”), which governs U.S.-registered MEPPs, subjects employers to substantial liabilities in the event of an employer’s complete or partial withdrawal from, or upon termination of, such plans. The Company currently contributes, and in the past, has contributed to, plans that are underfunded, and, therefore, could have potential liability associated with a voluntary or involuntary withdrawal from, or termination of, these plans. As of June 30, 2022, the Company does not have plans to withdraw from, and is not aware of circumstances that would reasonably lead to material claims against it, in connection with the MEPPs in which it participates. There can be no assurance, however, that the Company will not be assessed liabilities in the future, including in the form of a surcharge on future benefit contributions or increased contributions on underfunded plans. The amount the Company could be obligated to pay or contribute in the future cannot be estimated, as these amounts are based on future levels of work of the union employees covered by these plans, investment returns, which could be negatively affected by economic and market conditions, and the level of underfunding of such plans. In connection with the HMG acquisition, the Company assumed an obligation related to HMG’s 2016 withdrawal from a multiemployer pension plan, under which HMG is obligated to make quarterly payments of approximately $74,000 through 2036. As of June 30, 2022 and December 31, 2021, a withdrawal liability of approximately $3.3 million and $3.4 million, respectively, was recorded within other current and other long-term liabilities, as appropriate, within the consolidated balance sheets related to this obligation. Indemnities. The Company generally indemnifies its customers for the services it provides under its contracts, as well as other specified liabilities, which may subject the Company to indemnity claims, liabilities and related litigation. As of both June 30, 2022 and December 31, 2021, the Company had accrued project close-out liabilities of approximately $40 million. The Company is not aware of any other material asserted or unasserted claims in connection with its potential indemnity obligations. Other Guarantees. From time to time in the ordinary course of its business, MasTec guarantees the obligations of its subsidiaries, including obligations under certain contracts with customers, certain lease obligations, and in some states, obligations in connection with obtaining contractors’ licenses. MasTec has also issued performance and other guarantees in connection with certain of its equity investments. MasTec also generally warrants the work it performs following substantial completion of a project. Much of the work performed by the Company is evaluated for defects shortly after the work is completed. If warranty claims occur, the Company could be required to repair or replace warrantied items, or, if customers elect to repair or replace the warrantied item using the services of another provider, the Company could be required to pay for the cost of the repair or replacement. Warranty claims have historically not been material. Concentrations of Risk. For the six month period ended June 30, 2022, the Company had approximately 920 customers. In the third quarter of 2021, DIRECTV® was spun off from AT&T. As a result, for customer reporting purposes, AT&T and DIRECTV® are reported separately and all prior periods have been updated to give retroactive effect to the spin-off of DIRECTV® from AT&T. As of June 30, 2022 and December 31, 2021, there were no customers that represented greater than 10% of the Company’s consolidated net accounts receivable position, which is calculated as accounts receivable, net, less deferred revenue. For the three month periods ended June 30, 2022 and 2021, the Company derived approximately 42% a nd 53% , respectively, of its revenue from its top ten customers, and derived 43% and 58% for the six month periods ended June 30, 2022 and 2021, respectively.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2022
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions MasTec purchases, rents and leases equipment and purchases various types of supplies and services used in its business, including ancillary construction services, project-related site restoration and marketing, business development and administrative activities, from a number of different vendors on a non-exclusive basis, and from time to time, rents equipment to, sells certain supplies, or performs construction services on behalf of, entities in which members of subsidiary management have ownership or commercial interests. For the three month periods ended June 30, 2022 and 2021, such payments to related party entities totaled approximately $7.8 million and $30.7 million, respectively, and for the six month periods ended June 30, 2022 and 2021, totaled approximately $14.6 million and $51.1 million, respectively. Payables associated with such arrangements totaled approximately $0.8 million and $0.6 million as of June 30, 2022 and December 31, 2021, respectively. Revenue from such related party arrangements totaled approximately $1.3 million and $0.9 million for the three month periods ended June 30, 2022 and 2021, respectively, and totaled approximately $5.1 million and $2.1 million, respectively, for the six month periods ended June 30, 2022 and 2021. Related amounts receivable, net, totaled approximately $2.5 million and $0.4 million as of June 30, 2022 and December 31, 2021, respectively. The Company rents and leases equipment and purchases certain supplies and servicing from CCI. Juan Carlos Mas, who is the brother of Jorge Mas, Chairman of MasTec’s Board of Directors, and José R. Mas, MasTec’s Chief Executive Officer, serves as the chairman of CCI, and a member of management of a MasTec subsidiary and an entity that is owned by the Mas family are minority owners. For the three and six month periods ended June 30, 2022, MasTec paid CCI $0.7 million and $1.7 million, respectively, related to this activity, and for the three and six month periods ended June 30, 2021, paid approximately $5.6 million and $10.7 million, net of rebates, respectively. Amounts payable to CCI totaled approximately $0.8 million as of both June 30, 2022 and December 31, 2021. MasTec has a subcontracting arrangement with an entity for the performance of construction services, the minority owners of which include an entity controlled by Jorge Mas and José R. Mas, along with two members of management of a MasTec subsidiary. For the three month periods ended June 30, 2022 and 2021, MasTec incurred subcontracting expenses in connection with this arrangement of approximately $0.1 million and $16.8 million, respectively, and for the six month periods ended June 30, 2022 and 2021, incurred subcontracting expenses of approximately $0.1 million and $45.8 million, respectively. As of June 30, 2022 and December 31, 2021, related amounts payable totaled approximately $0.1 million and $0.5 million, respectively. MasTec has a leasing arrangement for an ai rcraft that is owned by an entity that Jorge Mas owns. For both the three month periods ended June 30, 2022 and 2021, MasTec paid approximately $0.6 million related to this leasing arrangement, and paid approximately $1.3 million for both the six month periods ended June 30, 2022 and 2021. MasTec has performed construction services on behalf of a professional Miami soccer franchise (the “Franchise”) in which Jorge Mas and José R. Mas are majority owners. Services provided by MasTec have included the construction of a soccer facility and stadium as well as wireless infrastructure services. MasTec may perform additional construction services for the Franchise in the future. Pa yments for other expenses related to the Franchise for the three month periods ended June 30, 2022 and 2021 totaled approximately $0.2 million and $0.1 million, respectively, and totaled approximately $0.3 million and $0.2 million for the six month periods ended June 30, 2022 and 2021. In connection with a fourth quarter 2021 acquisition, MasTec has a subcontracting arrangement to perform construction services for an entity, of which José R. Mas acquired a minority interest, and of which a member of management of a MasTec subsidiary owns the remaining interest. For the three and six month periods ended June 30, 2022, revenue recognized by MasTec under this arrangement totaled approximately $31.9 million and $60.7 million, respectively, and as of June 30, 2022, related amounts receivable totaled approximately $9.0 million. There were no amounts receivable as of December 31, 2021. MasTec pays a management fee to this entity in connection with the subcontracting arrangement. MasTec incurred approximately $0.5 million and $0.7 million of management fee expenses related to this arrangement for the three and six month periods ended June 30, 2022, of which $0.3 million was payable as of June 30, 2022. MasTec leases employees and provides satellite communication services to a customer in which Jorge Mas and José R. Mas own a majority interest. Charges to this customer under these arrangements totaled approximately $0.3 million for both the three month periods ended June 30, 2022 and 2021, and totaled approximately $0.6 million for both the six month periods ended June 30, 2022 and 2021. As of both June 30, 2022 and December 31, 2021, related amounts receivable totaled approximately $0.8 million. The Company has advanced amounts on behalf of an entity that was acquired in 2021. Amounts outstanding for such advances, which are expected to be settled under customary terms associated with the related purchase agreement, totaled approximately $1.9 million and $0.5 million as of June 30, 2022 and December 31, 2021, respectively. Additionally, in 2021, the Company advanced amounts to the former owner of an acquired business. There were no remaining amounts outstanding as of June 30, 2022, and as of December 31, 2021, approximately $1.0 million of such advances was outstanding. In addition, the Company, through a 2020 acquisition, has a 25% interest in an entity, under which the acquired business and the 25% owned entity have a subcontracting arrangement. The Company’s interest in this entity, for which post acquisition operating activity is de minimis, is accounted for as an equity method investment. For the three month period ended June 30, 2022, the Company made no equity contributions to this entity, and for the six month period ended June 30, 2022, the Company made equity contributions of $0.5 million. As of June 30, 2022 and December 31, 2021, the Company’s net investment in this entity was a liability of approximately $1.3 million and $1.6 million, respectively, which net amounts each included approximately $2.3 million of accounts receivable, net, less deferred revenue, related to the subcontracting arrangement. Additionally, the Company has certain arrangements with an entity in which members of management have an ownership interest, including a fee arrangement in conjunction with a $15.0 million le tter of credit issued by the Company on behalf of this entity. Income recognized in connection with these arrangements totaled approximately $0.2 million for both the three month periods ended June 30, 2022 and 2021, and totaled $0.4 million for both the six month periods ended June 30, 2022 and 2021 . As of both June 30, 2022 and December 31, 2021, related amounts receivable totaled $0.4 million. Non-controlling interests in entities consolidated by the Company represent ownership interests held by members of management of certain of the Company’s subsidiaries, primarily in the Company’s Oil and Gas segment. In June 2021, the Company acquired an additional 15% of the non-controlling interests in one of these entities from two members of subsidiary management for $6.8 million in cash. Split Dollar Agreements MasTec has split dollar life insurance agreements with trusts, for one of which Jorge Mas is a trustee and for the other of which José R. Mas is a trustee. The Company paid $0.5 million and $0.7 million, respectively, in both the second quarters of 2022 and 2021 in connection with these agreements. As of June 30, 2022 and December 31, 2021, life insurance assets associated with these agreements totaled approximately $25.2 million and $24.0 million, respectively.

Business, Basis of Presentati_2

Business, Basis of Presentation and Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements are unaudited and have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and with the instructions for Form 10-Q and Rule 10-01 of Regulation S-X. Pursuant to these rules and regulations, certain information and footnote disclosures normally included in the annual audited consolidated financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. The accompanying consolidated balance sheet as of December 31, 2021 is derived from the Company’s audited financial statements as of that date. Because certain information and footnote disclosures have been condensed or omitted, these consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto as of and for the year ended December 31, 2021 contained in the Company’s 2021 Annual Report on Form 10-K (the “2021 Form 10-K”). In management’s opinion, all normal and recurring adjustments considered necessary for a fair presentation of the financial position, results of operations and cash flows for the periods presented have been included. When necessary, certain prior year amounts have been reclassified to conform with the current period presentation, including for the first quarter 2022 change in segment balance sheet information for HMG, as discussed above. In addition, in the fourth quarter of 2021, the Company updated its presentation of gains or losses, net, from the sale of property and equipment to include such amounts within general and administrative expenses. Previously, such gains or losses were included within other income or expense. Interim period operating results do not necessarily indicate the results that may be expected for any other interim period or for the full fiscal year. The Company believes that the disclosures made in these consolidated financial statements are adequate to make the information not misleading.
Reclassifications	When necessary, certain prior year amounts have been reclassified to conform with the current period presentation, including for the first quarter 2022 change in segment balance sheet information for HMG, as discussed above. In addition, in the fourth quarter of 2021, the Company updated its presentation of gains or losses, net, from the sale of property and equipment to include such amounts within general and administrative expenses. Previously, such gains or losses were included within other income or expense
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements include MasTec, Inc. and its subsidiaries and include the accounts of all majority owned subsidiaries over which the Company exercises control and, when applicable, entities in which the Company has a controlling financial interest. All significant intercompany balances and transactions have been eliminated in consolidation. Other parties’ interests in entities that MasTec consolidates are reported as non-controlling interests within equity, except for mandatorily redeemable non-controlling interests, which are recorded within other liabilities. Net income or loss attributable to non-controlling interests is reported as a separate line item below net income or loss. The Company applies the equity method of accounting for its investments in entities for which it does not have a controlling financial interest, but over which it has the ability to exert significant influence. For equity investees in which the Company has an undivided interest in the assets, liabilities and profits or losses of an unincorporated entity, but does not exercise control over the entity, the Company consolidates its proportional interest in the accounts of the entity.
Equity Method Investments	The Company applies the equity method of accounting for its investments in entities for which it does not have a controlling financial interest, but over which it has the ability to exert significant influence.
Unincorporated Entities, Proportional Consolidation	For equity investees in which the Company has an undivided interest in the assets, liabilities and profits or losses of an unincorporated entity, but does not exercise control over the entity, the Company consolidates its proportional interest in the accounts of the entity
Translation of Foreign Currencies	Translation of Foreign Currencies The assets and liabilities of foreign subsidiaries with a functional currency other than the U.S. dollar are translated into U.S. dollars at period-end exchange rates, with resulting translation gains or losses included within other comprehensive income or loss. Revenue and expenses are translated into U.S. dollars at average rates of exchange during the applicable period. Substantially all of the Company’s foreign operations use their local currency as their functional currency. For foreign operations for which the local currency is not the functional currency, the operation’s non-monetary assets are remeasured into U.S. dollars at historical exchange rates. All other accounts are remeasured at current exchange rates. Gains or losses from remeasurement are included in other income or expense, net. Currency gains or losses resulting from transactions executed in currencies other than the functional currency are included in other income or expense, net.
Management Estimates	Management Estimates The preparation of consolidated financial statements in accordance with U.S. GAAP requires the use of estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. These estimates are based on historical experience and various other assumptions that management believes to be reasonable under the circumstances, including the potential future effects of macroeconomic trends and events, such as rising inflation and interest rate levels; climate-related matters; market, regulatory and industry factors; global events, such as the ongoing military conflict in Ukraine; and public health matters, such as the COVID-19 pandemic. These estimates form the basis for making judgments about the Company’s operating results and the carrying values of assets and liabilities that are not readily apparent from other sources. While management believes that such estimates are reasonable when considered in conjunction with the Company’s consolidated financial position and results of operations taken as a whole, actual results could differ materially from these estimates. Key estimates include: the recognition of revenue and project profit or loss, which the Company defines as project revenue, less project costs of revenue, including project-related depreciation, in particular, on construction contracts accounted for under the cost-to-cost method, for which the recorded amounts require estimates of costs to complete and the amount and probability of variable consideration included in the contract transaction price; fair value estimates, including those related to acquisitions, valuations of goodwill, intangible and other assets, acquisition-related contingent consideration and other liabilities, equity investments and long-lived assets; allowances for credit losses; asset lives used in computing depreciation and amortization; fair values of financial instruments; self-insurance liabilities; other accruals and allowances; income taxes; and the estimated effects of litigation and other contingencies.
General Economic Conditions, including the Effects of COVID-19	General Economic Conditions, including the Effects of COVID-19 The Company has experienced, and may continue to experience, direct and indirect negative effects on its business and operations from negative economic conditions, including recent inflationary effects on fuel prices, labor and materials costs, rising interest rates and supply chain disruptions that have limited the availability of products. The Company may also experience negative effects from possible longer-term changes in consumer and customer behavior resulting from the effects of the COVID-19 pandemic. The COVID-19 pandemic disrupted business activities and global economic conditions beginning in 2020 and has negatively affected the Company’s operations during the same period. The Company has taken steps to mitigate the effects of the COVID-19 pandemic on its business, and its business model has, thus far, proven resilient. While the adverse effects of the COVID-19 pandemic have begun to subside, its effects vary by region, and uncertainties arising from the COVID-19 pandemic could continue to disrupt economic conditions and business activities, particularly as new variants arise. The extent to which general economic conditions and the COVID-19 pandemic, including its emerging variants, could affect the Company’s business, operations and financial results is uncertain as it will depend upon numerous evolving factors that management may not be able to accurately predict, and, therefore, any future impacts on the Company’s business, financial condition and/or results of operations cannot be quantified or predicted with specificity.
Revenue Recognition	Revenue Recognition The Company recognizes revenue from contracts with customers when, or as, control of promised services and goods is transferred to customers. The amount of revenue recognized reflects the consideration to which the Company expects to be entitled in exchange for the services and goods transferred. The Company primarily recognizes revenue over time utilizing the cost-to-cost measure of progress, which best depicts the continuous transfer of control of goods or services to the customer, and correspondingly, when performance obligations are satisfied for the related contracts. Contracts. The Company derives revenue primarily from construction projects performed under: (i) master and other service agreements, which generally provide a menu of available services in a specific geographic territory that are utilized on an as-needed basis, and are typically priced using either a time and materials or a fixed price per unit basis; and (ii) contracts for specific projects requiring the construction and installation of an entire infrastructure system, or specified units within an infrastructure system, which are subject to multiple pricing options, including fixed price, unit price, time and materials, or cost plus a markup. Revenue derived from projects performed under master service and other service agreements totaled 54% and 32% of consolidated revenue for the three month periods ended June 30, 2022 and 2021, respectively, and totaled 56% and 31% for the six month periods ended June 30, 2022 and 2021, respectively. For certain master service and other service agreements, revenue is recognized at a point in time, primarily for install-to-the-home and certain other wireless services in the Company’s Communications segment. This is generally when the work order has been fulfilled, which is typically the same day the work is initiated. Point in time revenue accounted for approximately 4% of consolidated revenue in each of the three and six month periods ended June 30, 2022 and 2021. Substantially all of the Company’s other revenue is recognized over time. The total contract transaction price and cost estimation processes used for recognizing revenue over time under the cost-to-cost method is based on the professional knowledge and experience of the Company’s project managers, engineers and financial professionals. Management reviews estimates of total contract transaction price and total project costs on an ongoing basis. Changes in job performance, job conditions and management’s assessment of expected variable consideration are factors that influence estimates of the total contract transaction price, total costs to complete those contracts and the Company’s profit recognition. Changes in these factors could result in revisions to revenue in the period in which the revisions are determined, which could materially affect the Company’s consolidated results of operations for that period. Provisions for losses on uncompleted contracts are recorded in the period in which such losses are determined. For both the six month periods ended June 30, 2022 and 2021, project profit was affected by less than 5% as a result of changes in contract estimates included in projects that were in process as of December 31, 2021 and 2020. Changes in recognized revenue, net, as a result of changes in total contract transaction price estimates, including from variable consideration, from performance obligations satisfied or partially satisfied in prior periods, for the three month periods ended June 30, 2022 and 2021, totaled a net reduction of approximately $0.6 million and a net increase of approximately $30.5 million, respectively. For the six month periods ended June 30, 2022 and 2021, such changes totaled net increases of approximately $8.8 million and $37.0 million, respectively. Performance Obligations. A performance obligation is a contractual promise to transfer a distinct good or service to a customer. The transaction price of a contract is allocated to each distinct performance obligation and recognized as revenue when or as the performance obligation is satisfied. The vast majority of the Company’s performance obligations are completed within one year. Remaining performance obligations represent the amount of unearned transaction prices under contracts for which work is wholly or partially unperformed, including the Company’s share of unearned transaction prices from its proportionately consolidated non-controlled joint ventures. As of June 30, 2022, the amount of the Company’s remaining performance obligations was $5.2 billion. Based on current expectations, the Company anticipates it will recognize approximately $2.8 billion of its remaining performance obligations as revenue during 2022, with the majority of the remaining balance expected to be recognized in 2023. Variable Consideration. Transaction prices for the Company’s contracts may include variable consideration, which comprises items such as change orders, claims and incentives. Management estimates variable consideration for a performance obligation utilizing estimation methods that it believes best predict the amount of consideration to which the Company will be entitled. Management’s estimates of variable consideration and the determination of whether to include estimated amounts in transaction prices are based largely on engineering studies and legal opinions, past practices with the customer, specific discussions, correspondence or preliminary negotiations with the customer and all other relevant information that is reasonably available at the time of the estimate. To the extent unapproved change orders, claims and other variable consideration reflected in transaction prices are not resolved in the Company’s favor, or to the extent incentives reflected in transaction prices are not earned, there could be reductions in, or reversals of, previously recognized revenue. As of June 30, 2022 and December 31, 2021, the Company included approximately $165 million and $104 million, respectively, of change orders and/or claims in transaction prices for certain contracts that were in the process of being resolved in the ordinary course of business, including through negotiation, arbitration and other proceedings. These transaction price adjustments, when earned, are included within contract assets or accounts receivable, net of allowance, as appropriate. As of both June 30, 2022 and December 31, 2021, these change orders and/or claims primarily related to certain projects in the Company’s Clean Energy and Infrastructure and Power Delivery segments. The Company actively engages with its customers to complete the final approval process and generally expects these processes to be completed within one year. Amounts ultimately realized upon final agreement by customers could be higher or lower than such estimated amounts.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements The discussion below describes the effects of recent accounting pronouncements, as updated from the discussion in the Company’s 2021 Form 10-K. Recent Accounting Pronouncements In October 2021, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (“ASU 2021-08”) to improve consistency for revenue recognition in the post-acquisition period for acquired contracts as compared to contracts entered into subsequent to acquisition. ASU 2021-08 requires an acquirer to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606, Revenue from Contracts with Customers, rather than at fair value. ASU 2021-08 is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2022, with early adoption permitted. The Company does not expect that this ASU will have a material effect on its consolidated financial statements.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	The following table provides details underlying the Company’s earnings per share calculations for the periods indicated (in thousands): For the Three Months Ended June 30, For the Six Months Ended June 30, 2022 2021 2022 2021 Net income (loss) attributable to MasTec: Net income (loss) - basic (a) $ 16,212 $ 75,451 $ (18,766) $ 141,100 Fair value gain (loss) related to resolved contingent payments (b) $ 1,025 $ — $ 1,025 $ — Net income (loss) - diluted (a) $ 15,187 $ 75,451 $ (19,791) $ 141,100 Weighted average shares outstanding: Weighted average shares outstanding - basic (c) 74,445 72,501 74,615 72,470 Dilutive common stock equivalents (d)(e) 1,092 1,475 32 1,443 Weighted average shares outstanding - diluted 75,537 73,976 74,647 73,913 (a) For basic net income, calculated as total net income or loss less amounts attributable to non-controlling interests. For diluted net income, calculated as total net income or loss, less amounts attributable to non-controlling interests, adjusted for the fair value gain or loss, if any, related to additional contingent payments to the former owners of an acquired business for which the contingency has been resolved as of the respective period. See discussion above and in Note 3 – Acquisitions, Goodwill and Other Intangible Assets. (b) For the three and six month periods ended June 30, 2022, represents the fair value gain or loss related to additional contingent payments for which the contingency has been resolved as of June 30, 2022. See Note 3 – Acquisitions, Goodwill and Other Intangible Assets for additional information. (c) For the three and six month periods ended June 30, 2022, basic shares include approximately 132,000 and 101,000 weighted average shares, respectively, related to additional contingent payments. (d) For the three and six month periods ended June 30, 2022, weighted average anti-dilutive common stock equivalents totaled approximately 178,000 and 1,273,000 respectively, and for the three and six month periods ended June 30, 2021, totaled approximately 1,000 and 2,000, respectively. (e) For the three and six month periods ended June 30, 2022, common stock equivalents included approximately 1,000 and

Acquisitions, Goodwill, and O_2

Acquisitions, Goodwill, and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill by Segment	The following table provides a reconciliation of changes in goodwill by reportable segment for the six month period ended June 30, 2022 (in millions). Goodwill balances as of December 31, 2021 were recast in the first quarter of 2022 to reflect the change in segment reporting for the HMG acquisition, as discussed in Note 1 – Business, Basis of Presentation and Significant Accounting Policies. Goodwill was reallocated based on the estimated relative fair value of the respective HMG reporting units. See Note 13 – Segments and Related Information for additional information. Communications Clean Energy and Infrastructure Oil and Gas Power Delivery Total Goodwill Goodwill, gross, as of December 31, 2021 (a) $ 614.5 $ 166.1 $ 561.3 $ 303.4 $ 1,645.3 Accumulated impairment loss (b) — (124.7) — (124.7) Goodwill, net, as of December 31, 2021 $ 614.5 $ 166.1 $ 436.6 $ 303.4 $ 1,520.6 Additions from new business combinations 3.0 — 4.1 — 7.1 Measurement period adjustments (c) (12.7) 2.1 6.7 (38.9) (42.8) Currency translation adjustments — — (0.3) — (0.3) Goodwill, net as of June 30, 2022 $ 604.8 $ 168.2 $ 447.1 $ 264.5 $ 1,484.6 (a) The change in segment reporting for the HMG acquisition resulted in a decrease in Power Delivery segment goodwill of $23.4 million and an increase in goodwill for the Communications and Oil and Gas segments of $13.0 million and $10.4 million , respectively, as of December 31, 2021. (b) Accumulated impairment losses include the effects of currency translation gains and/or losses. (c) Represents adjustments to preliminary estimates of fair value within the measurement period of up to one year from the date of acquisition.
Schedule of Finite-Lived Intangible Assets	The following table provides a reconciliation of changes in other intangible assets, net, for the period indicated (in millions): Other Intangible Assets Non-Amortizing Amortizing Trade Names Customer Relationships and Backlog Pre-Qualifications Other (a) Total Other intangible assets, gross, as of December 31, 2021 $ 34.5 $ 763.1 $ 73.9 $ 124.6 $ 996.1 Accumulated amortization (278.0) (21.4) (26.4) (325.8) Other intangible assets, net, as of December 31, 2021 $ 34.5 $ 485.1 $ 52.5 $ 98.2 $ 670.3 Additions from new business combinations — 2.1 — 0.7 2.8 Measurement period adjustments (b) — 55.8 — (10.1) 45.7 Currency translation adjustments — — (0.5) — (0.5) Amortization expense (42.8) (4.4) (6.1) (53.3) Other intangible assets, net, as of June 30, 2022 $ 34.5 $ 500.2 $ 47.6 $ 82.7 $ 665.0 (a) Consists principally of trademarks, trade names and non-compete agreements. (b) Represents adjustments to preliminary estimates of fair value within the measurement period of up to one year from the date of acquisition.
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the estimated fair values of consideration paid and net assets acquired for the 2021 acquisitions, as adjusted (in millions): Acquisition consideration (a) : HMG All other Total Cash, net of cash acquired $ 402.4 $ 867.3 $ 1,269.7 Shares transferred 181.7 — 181.7 Estimated fair value of contingent consideration — 102.9 102.9 Total consideration $ 584.1 $ 970.2 $ 1,554.3 Identifiable assets acquired and liabilities assumed: Accounts receivable and contract assets $ 409.5 $ 271.2 $ 680.7 Current assets 14.6 26.7 41.3 Property and equipment 252.4 250.6 503.0 Long-term assets, primarily operating lease right-of-use assets 85.1 81.8 166.9 Amortizing intangible assets 164.6 444.2 608.8 Accounts payable (108.0) (49.3) (157.3) Current liabilities, including current portion of operating lease liabilities (151.2) (136.7) (287.9) Long-term debt, including finance lease obligations (0.2) (4.4) (4.6) Long-term liabilities, primarily operating lease liabilities and deferred income taxes (151.0) (76.5) (227.5) Total identifiable net assets $ 515.8 $ 807.6 $ 1,323.4 Goodwill 68.3 166.2 234.5 Total net assets acquired, including goodwill $ 584.1 $ 973.8 $ 1,557.9 Bargain purchase gain — (3.6) (3.6) Total consideration $ 584.1 $ 970.2 $ 1,554.3

Accounts Receivable, Net of A_2

Accounts Receivable, Net of Allowance, and Contract Assets and Liabilities (Tables)	6 Months Ended
	Jun. 30, 2022
Receivables [Abstract]
Schedule of Accounts Receivable, Net of Allowance, and Contract Assets	The following table provides details of accounts receivable, net of allowance, and contract assets (together, “accounts receivable, net”) as of the dates indicated (in millions): June 30, December 31, Contract billings $ 1,022.9 $ 1,027.1 Less allowance (8.3) (7.8) Accounts receivable, net of allowance $ 1,014.6 $ 1,019.3 Retainage 273.3 296.8 Unbilled receivables 1,246.1 931.1 Contract assets $ 1,519.4 $ 1,227.9

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	6 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment, Net	The following table provides details of property and equipment, net, including property and equipment held under finance leases as of the dates indicated (in millions): June 30, December 31, Land $ 55.8 $ 40.0 Buildings and leasehold improvements 86.2 94.1 Machinery and equipment 2,616.6 2,411.0 Office furniture and equipment 275.8 262.6 Construction in progress 74.4 32.7 Total property and equipment $ 3,108.8 $ 2,840.4 Less accumulated depreciation and amortization (1,537.0) (1,404.3) Property and equipment, net $ 1,571.8 $ 1,436.1

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Schedule of Carrying Values of Debt	The following table provides details of the carrying values of debt as of the dates indicated (in millions): Description Maturity Date June 30, December 31, Senior credit facility: November 1, 2026 Revolving loans $ 985.5 $ 772.3 Term loan 350.0 350.0 4.50% Senior Notes August 15, 2028 600.0 600.0 Finance lease and other obligations 351.4 310.3 Total debt obligations $ 2,286.9 $ 2,032.6 Less unamortized deferred financing costs (16.8) (18.5) Total debt, net of deferred financing costs $ 2,270.1 $ 2,014.1 Current portion of long-term debt 152.0 137.9 Long-term debt $ 2,118.1 $ 1,876.2

Lease Obligations (Tables)

Lease Obligations (Tables)	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Schedule of Future Minimum Lease Commitments, Finance Leases	Future minimum lease commitments as of June 30, 2022 were as follows (in millions): Finance Leases Operating 2022, remaining six months $ 79.7 $ 48.9 2023 126.4 79.4 2024 83.3 61.8 2025 51.3 39.4 2026 11.5 25.2 Thereafter 0.4 26.8 Total minimum lease payments $ 352.6 $ 281.5 Less amounts representing interest (15.9) (16.6) Total lease obligations, net of interest $ 336.7 $ 264.9 Less current portion 147.1 88.4 Long-term portion of lease obligations, net of interest $ 189.6 $ 176.5
Schedule of Future Minimum Lease Commitments, Operating Leases	Future minimum lease commitments as of June 30, 2022 were as follows (in millions): Finance Leases Operating 2022, remaining six months $ 79.7 $ 48.9 2023 126.4 79.4 2024 83.3 61.8 2025 51.3 39.4 2026 11.5 25.2 Thereafter 0.4 26.8 Total minimum lease payments $ 352.6 $ 281.5 Less amounts representing interest (15.9) (16.6) Total lease obligations, net of interest $ 336.7 $ 264.9 Less current portion 147.1 88.4 Long-term portion of lease obligations, net of interest $ 189.6 $ 176.5

Stock-Based Compensation and _2

Stock-Based Compensation and Other Employee Benefit Plans (Tables)	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of Activity, Restricted Shares	Activity, restricted shares: (a) Restricted Per Share Weighted Average Grant Date Fair Value Non-vested restricted shares, as of December 31, 2021 1,748,685 $ 43.73 Granted 179,247 86.49 Vested (229,325) 47.34 Canceled/forfeited (9,635) 39.13 Non-vested restricted shares, as of June 30, 2022 1,688,972 $ 47.81 (a) Includes 2,150 and 1,300 restricted stock units as of June 30, 2022 and December 31, 2021, respectively.

Other Retirement Plans (Tables)

Other Retirement Plans (Tables)	6 Months Ended
	Jun. 30, 2022
Retirement Benefits [Abstract]
Schedule of Covered Employees and Contributions, Multiemployer Plans	Total contributions to multiemployer plans and the related number of employees covered by these plans for the periods indicated were as follows: Multiemployer Plans Covered Employees Contributions (in millions) Low High Pension Other Multiemployer Total For the Three Months Ended June 30: 2022 6,672 7,136 $ 22.3 $ 13.9 $ 36.2 2021 2,532 6,979 $ 21.7 $ 8.0 $ 29.7 For the Six Months Ended June 30: 2022 6,601 7,136 $ 39.3 $ 27.1 $ 66.4 2021 2,412 6,979 $ 44.2 $ 10.2 $ 54.4

Segments and Related Informatio

Segments and Related Information (Tables)	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
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 Three Months Ended June 30, For the Six Months Ended June 30, Revenue: 2022 2021 2022 2021 Communications (a) $ 822.0 $ 630.4 $ 1,486.2 $ 1,199.0 Clean Energy and Infrastructure 494.5 481.5 930.4 831.9 Oil and Gas 341.2 621.4 552.2 1,346.9 Power Delivery 646.5 232.5 1,296.9 366.0 Other — 0.0 — 0.0 Eliminations (2.4) (3.1) (9.5) (5.7) Consolidated revenue $ 2,301.8 $ 1,962.7 $ 4,256.2 $ 3,738.1 (a) Revenue generated primarily by utilities customers represented 24.1% and 20.6% of Communications segment revenue for the three month periods ended June 30, 2022 and 2021, respectively, and represented 24.8% and 20.4% for the six month periods ended June 30, 2021 and 2020, respectively. For the Three Months Ended June 30, For the Six Months Ended June 30, EBITDA: 2022 2021 2022 2021 Communications $ 84.2 $ 72.7 $ 124.6 $ 121.5 Clean Energy and Infrastructure (5.2) 15.6 5.6 26.4 Oil and Gas 62.8 138.1 84.2 305.7 Power Delivery 41.4 9.3 87.5 12.9 Other 7.4 8.3 14.4 15.8 Corporate (38.3) (19.9) (85.3) (59.8) Consolidated EBITDA $ 152.3 $ 224.1 $ 231.0 $ 422.5 For the Three Months Ended June 30, For the Six Months Ended June 30, Depreciation and Amortization: 2022 2021 2022 2021 Communications $ 30.7 $ 23.8 $ 59.7 $ 45.6 Clean Energy and Infrastructure 11.7 10.5 23.1 18.1 Oil and Gas 32.2 56.2 63.8 108.3 Power Delivery 36.8 14.1 72.5 20.2 Other — 0.0 — 0.0 Corporate 3.3 2.8 6.4 5.7 Consolidated depreciation and amortization $ 114.7 $ 107.4 $ 225.5 $ 197.9 Assets: June 30, December 31, 2021 (a) Communications $ 2,349.4 $ 2,100.9 Clean Energy and Infrastructure 1,045.1 1,067.0 Oil and Gas 1,576.6 1,527.6 Power Delivery 2,015.4 2,017.2 Other 276.6 238.1 Corporate 141.6 170.6 Consolidated segment assets $ 7,404.7 $ 7,121.4 (a) Segment assets as of December 31, 2021 were recast during the first quarter of 2022 to conform with the change in segment reporting for the HMG acquisition, the effect of which was a decrease in Power Delivery segment assets of $192.2 million, an increase in assets for the Communications and Oil and Gas segments of $69.4 million and $77.0 million, respectively, and an increase in Corporate assets of $45.8 million.
Reconciliation of Consolidated Income before Income Taxes to EBITDA	For the Three Months Ended June 30, For the Six Months Ended June 30, EBITDA Reconciliation: 2022 2021 2022 2021 Income (loss) before income taxes $ 18.2 $ 102.8 $ (29.9) $ 198.3 Plus: Interest expense, net 19.4 13.8 35.4 26.3 Depreciation 87.0 87.5 172.2 166.8 Amortization of intangible assets 27.7 19.9 53.3 31.2 Consolidated EBITDA $ 152.3 $ 224.1 $ 231.0 $ 422.5

Business, Basis of Presentati_3

Business, Basis of Presentation and Significant Accounting Policies - Narrative (Details) $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($) segment
Accounting Policies [Abstract]
Number of reportable segments | segment	5
Accrued payroll taxes | $	$ 42

Business, Basis of Presentati_4

Business, Basis of Presentation and Significant Accounting Policies - Revenue Recognition (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Revenue [Line Items]
Revenue recognition, changes In contract estimates, cost-to-cost method, financial effect, percentage (less than)			5%	5%
Revenue recognition, performance obligations satisfied in previous periods, revenue recognized	$ 0.6	$ (30.5)	$ (8.8)	$ (37)
Revenue recognition, remaining performance obligations, contract price allocated	5,200		5,200
Contract with customer, unapproved change orders and/or claims, amount	$ 165		$ 165		$ 104
Change order or claim approval process, term within which expected to be completed			1 year
Revenue Benchmark | Concentration Risk from Type of Arrangement | Master Service and Other Service Agreements
Revenue [Line Items]
Concentration risk, percentage of total	54%	32%	56%	31%
Revenue Benchmark | Concentration Risk from Type of Arrangement | Master Service and Other Service Agreements | Point in Time
Revenue [Line Items]
Concentration risk, percentage of total	4%	4%	4%	4%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01
Revenue [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	6 months		6 months
Revenue recognition, remaining performance obligations, contract price allocated	$ 2,800		$ 2,800

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Earnings Per Share (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Net income (loss) attributable to MasTec:
Net income (loss) - basic	$ 16,212	$ 75,451	$ (18,766)	$ 141,100
Fair value gain (loss) related to resolved contingent payments	1,025	0	1,025	0
Net income (loss) - diluted	$ 15,187	$ 75,451	$ (19,791)	$ 141,100
Weighted average shares outstanding:
Weighted average shares outstanding - basic (in shares)	74,445	72,501	74,615	72,470
Dilutive common stock equivalents (in shares)	1,092	1,475	32	1,443
Weighted average shares outstanding - diluted (in shares)	75,537	73,976	74,647	73,913
Basic weighted average common shares outstanding (in shares)	74,445	72,501	74,615	72,470
Anti-dilutive common stock (in shares)	178	1	1,273	2
Dilutive common stock equivalents (in shares)	1,092	1,475	32	1,443
2021 Acquisition, Acquisition One | Former Owner Of Acquired Business
Weighted average shares outstanding:
Weighted average shares outstanding - basic (in shares)	132		101
Dilutive common stock equivalents (in shares)	1		32
Basic weighted average common shares outstanding (in shares)	132		101
Dilutive common stock equivalents (in shares)	1		32

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares	1 Months Ended		3 Months Ended		6 Months Ended		12 Months Ended
	May 31, 2022	Dec. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Business Acquisition [Line Items]
Antidilutive securities excluded from computation of diluted net loss per share (in shares)					1,173,000
Treasury stock acquired (in shares)			936,000	0	1,124,000	0
Repurchase effect on weighted average shares outstanding, decrease (in shares)			554,000		330,000
HMG
Business Acquisition [Line Items]
Business acquisition, number of shares issued (in shares)	133,000	1,975,000					2,000,000

Acquisitions, Goodwill and Othe

Acquisitions, Goodwill and Other Intangible Assets - Rollforward of Goodwill by Segment (Details) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Goodwill [Line Items]
Goodwill		$ 1,645,300
Accumulated impairment loss		(124,700)
Goodwill, net	$ 1,484,600	1,520,575
Goodwill [Roll Forward]
Goodwill, net, beginning balance	1,520,575
Goodwill, acquired during period	7,100
Goodwill, measurement period adjustments	(42,800)
Goodwill, currency translation adjustments	(300)
Goodwill, net, ending balance	1,484,600	1,520,575
HMG
Goodwill [Line Items]
Goodwill, net		68,300
Goodwill [Roll Forward]
Goodwill, net, beginning balance	68,300
Goodwill, net, ending balance		68,300
Communications
Goodwill [Line Items]
Goodwill		614,500
Accumulated impairment loss		0
Goodwill, net	604,800	614,500
Goodwill [Roll Forward]
Goodwill, net, beginning balance	614,500
Goodwill, acquired during period	3,000
Goodwill, measurement period adjustments	(12,700)
Goodwill, currency translation adjustments	0
Goodwill, net, ending balance	604,800	614,500
Communications | HMG
Goodwill [Roll Forward]
Goodwill, period increase (decrease)		13,000
Clean Energy and Infrastructure
Goodwill [Line Items]
Goodwill		166,100
Accumulated impairment loss
Goodwill, net	168,200	166,100
Goodwill [Roll Forward]
Goodwill, net, beginning balance	166,100
Goodwill, acquired during period	0
Goodwill, measurement period adjustments	2,100
Goodwill, currency translation adjustments	0
Goodwill, net, ending balance	168,200	166,100
Oil and Gas
Goodwill [Line Items]
Goodwill		561,300
Accumulated impairment loss		(124,700)
Goodwill, net	447,100	436,600
Goodwill [Roll Forward]
Goodwill, net, beginning balance	436,600
Goodwill, acquired during period	4,100
Goodwill, measurement period adjustments	6,700
Goodwill, currency translation adjustments	(300)
Goodwill, net, ending balance	447,100	436,600
Oil and Gas | HMG
Goodwill [Roll Forward]
Goodwill, period increase (decrease)		10,400
Power Delivery
Goodwill [Line Items]
Goodwill		303,400
Accumulated impairment loss		0
Goodwill, net	264,500	303,400
Goodwill [Roll Forward]
Goodwill, net, beginning balance	303,400
Goodwill, acquired during period	0
Goodwill, measurement period adjustments	(38,900)
Goodwill, currency translation adjustments	0
Goodwill, net, ending balance	$ 264,500	303,400
Power Delivery | HMG
Goodwill [Roll Forward]
Goodwill, period increase (decrease)		$ 23,400

Acquisitions, Goodwill, and O_3

Acquisitions, Goodwill, and Other Intangible Assets - Rollforward of Other Intangible Assets (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Other Intangible Assets [Line Items]
Other intangible assets, gross		$ 996,100
Accumulated amortization		(325,800)
Other Intangible Assets [Rollforward]
Other intangible assets, net, beginning balance	$ 670,280
Additions from new business combinations	2,800
Measurement period adjustments	45,700
Currency translation adjustments	(500)
Amortization expense	(53,300)
Other intangible assets, net, ending balance	664,994
Customer Relationships and Backlog
Other Intangible Assets [Line Items]
Other intangible assets, amortizing, gross		763,100
Accumulated amortization		(278,000)
Other Intangible Assets [Rollforward]
Other intangible assets, net, amortizing, beginning balance	485,100
Additions from new business combinations, amortizing intangible assets	2,100
Measurement period adjustments, amortizing intangible assets	55,800
Currency translation adjustments, amortizing intangible assets	0
Amortization expense	(42,800)
Other intangible assets, net, amortizing, ending balance	500,200
Pre-Qualifications
Other Intangible Assets [Line Items]
Other intangible assets, amortizing, gross		73,900
Accumulated amortization		(21,400)
Other Intangible Assets [Rollforward]
Other intangible assets, net, amortizing, beginning balance	52,500
Additions from new business combinations, amortizing intangible assets	0
Measurement period adjustments, amortizing intangible assets	0
Currency translation adjustments, amortizing intangible assets	(500)
Amortization expense	(4,400)
Other intangible assets, net, amortizing, ending balance	47,600
Other
Other Intangible Assets [Line Items]
Other intangible assets, amortizing, gross		124,600
Accumulated amortization		(26,400)
Other Intangible Assets [Rollforward]
Other intangible assets, net, amortizing, beginning balance	98,200
Additions from new business combinations, amortizing intangible assets	700
Measurement period adjustments, amortizing intangible assets	(10,100)
Currency translation adjustments, amortizing intangible assets	0
Amortization expense	(6,100)
Other intangible assets, net, amortizing, ending balance	82,700
Trade Names
Other Intangible Assets [Line Items]
Other intangible assets, non-amortizing	34,500	$ 34,500
Other Intangible Assets [Rollforward]
Other intangible assets, non-amortizing, beginning balance	34,500
Additions from new business combinations, non-amortizing intangible assets	0
Measurement period adjustments, non-amortizing intangible assets	0
Currency translation adjustments, non-amortizing intangible assets	0
Other intangible assets, non-amortizing, ending balance	$ 34,500

Acquisitions, Goodwill, and O_4

Acquisitions, Goodwill, and Other Intangible Assets - Quarterly Assessment for Indicators of Impairment - Narrative (Details)	3 Months Ended
	Jun. 30, 2022 reporting_unit
Oil and Gas
Goodwill [Line Items]
Number of reporting units	2
Power Delivery
Goodwill [Line Items]
Number of reporting units	1

Acquisitions, Goodwill, and O_5

Acquisitions, Goodwill, and Other Intangible Assets - 2022 and 2021 Acquisitions - Narrative (Details) $ in Thousands	1 Months Ended		3 Months Ended			6 Months Ended		12 Months Ended
	May 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($) yr shares	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) acquisition shares	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($) yr acquisition shares
Business Acquisition [Line Items]
Cash paid for acquisitions, net of cash acquired						$ 44,908	$ 589,055
Goodwill		$ 1,520,575	$ 1,484,600			1,484,600		$ 1,520,575
Fair value adjustment related to resolved contingent payments			(1,025)		$ 0	(1,025)	$ 0
Oil and Gas
Business Acquisition [Line Items]
Goodwill		436,600	447,100			447,100		436,600
Power Delivery
Business Acquisition [Line Items]
Goodwill		303,400	264,500			$ 264,500		$ 303,400
2022 Acquisitions
Business Acquisition [Line Items]
Business combinations, number of acquisitions | acquisition						2
Cash paid for acquisitions, net of cash acquired						$ 15,800
Estimated fair value of contingent consideration			1,800			1,800
2021 Acquisitions
Business Acquisition [Line Items]
Business combinations, number of acquisitions | acquisition								14
Cash paid for acquisitions, net of cash acquired								$ 1,269,700
Estimated fair value of contingent consideration		103,000						103,000
Amortizing intangible assets		608,800						608,800
Goodwill		$ 234,500						234,500
Business acquisition, goodwill, expected tax deductible amount			149,000			149,000
Bargain purchase gain								3,600
Total consideration								1,554,300
Shares transferred								181,700
Acquisition-related contingent consideration liabilities, range of potential undiscounted earn-out liabilities, low			4,000			4,000
Acquisition-related contingent consideration liabilities, range of potential undiscounted earn-out liabilities, high			120,000			120,000
2021 Acquisitions | Power Delivery
Business Acquisition [Line Items]
Bargain purchase gain						200		$ 3,600
2021 Acquisitions | Minimum | Expected Term
Business Acquisition [Line Items]
Business combinations, contingent consideration, earn-out period (in years) | yr		1						1
2021 Acquisitions | Maximum | Expected Term
Business Acquisition [Line Items]
Business combinations, contingent consideration, earn-out period (in years) | yr		5						5
HMG
Business Acquisition [Line Items]
Cash paid for acquisitions, net of cash acquired								$ 402,400
Amortizing intangible assets		$ 164,600						$ 164,600
Amortizing intangible assets, weighted average useful life								11 years
Goodwill		$ 68,300						$ 68,300
Bargain purchase gain								0
Total consideration								$ 584,100
Business acquisition, number of shares issued (in shares) | shares	133,000	1,975,000						2,000,000
Shares transferred								$ 181,700
HMG | Contingent Consideration, Value Of Common Stock
Business Acquisition [Line Items]
Estimated fair value of contingent consideration		$ 65,000	32,000			$ 32,000		65,000
Total consideration	$ 29,400
Business acquisition, cash payment	$ 18,000
Business acquisition, number of shares issued (in shares) | shares	133,157					160,000
Fair value adjustment related to resolved contingent payments			15,000
Realized gain (loss) included in other income			1,000			$ 1,000
Unrealized gain (loss) included in other income			$ 3,200			$ 3,200
HMG | Customer Relationships
Business Acquisition [Line Items]
Amortizing intangible assets		132,000						$ 132,000
Amortizing intangible assets, weighted average useful life								12 years
All other
Business Acquisition [Line Items]
Cash paid for acquisitions, net of cash acquired								$ 867,300
Amortizing intangible assets		444,200						$ 444,200
Amortizing intangible assets, weighted average useful life								17 years
Goodwill		$ 166,200						$ 166,200
Bargain purchase gain								3,600
Total consideration								970,200
Shares transferred								0
All other | Power Delivery
Business Acquisition [Line Items]
Cash paid for acquisitions, net of cash acquired								$ 78,000
All other | Minimum | Expected Term | Power Delivery
Business Acquisition [Line Items]
Business combinations, contingent consideration, earn-out period (in years) | yr		1						1
All other | Customer Relationships
Business Acquisition [Line Items]
Amortizing intangible assets, weighted average useful life								17 years
INTREN
Business Acquisition [Line Items]
Total consideration				$ 455,000
INTREN | Power Delivery
Business Acquisition [Line Items]
Goodwill		$ 49,000						$ 49,000
INTREN | Customer Relationships And Trade Names | Power Delivery
Business Acquisition [Line Items]
Amortizing intangible assets		$ 284,000						$ 284,000
Amortizing intangible assets, weighted average useful life								20 years

Acquisitions, Goodwill and Ot_2

Acquisitions, Goodwill and Other Intangible Assets - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Business Combination, Consideration Transferred [Abstract]
Cash, net of cash acquired	$ 44,908	$ 589,055
Identifiable assets acquired and liabilities assumed:
Goodwill	$ 1,484,600		$ 1,520,575
2021 Acquisitions
Business Combination, Consideration Transferred [Abstract]
Cash, net of cash acquired			1,269,700
Shares transferred			181,700
Estimated fair value of contingent consideration			103,000
Total consideration			1,554,300
Identifiable assets acquired and liabilities assumed:
Accounts receivable and contract assets			680,700
Current assets			41,300
Property and equipment			503,000
Long-term assets, primarily operating lease right-of-use assets			166,900
Amortizing intangible assets			608,800
Accounts payable			(157,300)
Current liabilities, including current portion of operating lease liabilities			(287,900)
Long-term debt, including finance lease obligations			(4,600)
Long-term liabilities, primarily operating lease liabilities and deferred income taxes			(227,500)
Total identifiable net assets			1,323,400
Goodwill			234,500
Total net assets acquired, including goodwill			1,557,900
Bargain purchase gain			(3,600)
Total consideration			1,554,300
2021 Acquisitions | Contingent Consideration
Business Combination, Consideration Transferred [Abstract]
Estimated fair value of contingent consideration			102,900
HMG
Business Combination, Consideration Transferred [Abstract]
Cash, net of cash acquired			402,400
Shares transferred			181,700
Total consideration			584,100
Identifiable assets acquired and liabilities assumed:
Accounts receivable and contract assets			409,500
Current assets			14,600
Property and equipment			252,400
Long-term assets, primarily operating lease right-of-use assets			85,100
Amortizing intangible assets			164,600
Accounts payable			(108,000)
Current liabilities, including current portion of operating lease liabilities			(151,200)
Long-term debt, including finance lease obligations			(200)
Long-term liabilities, primarily operating lease liabilities and deferred income taxes			(151,000)
Total identifiable net assets			515,800
Goodwill			68,300
Total net assets acquired, including goodwill			584,100
Bargain purchase gain			0
Total consideration			584,100
HMG | Contingent Consideration
Business Combination, Consideration Transferred [Abstract]
Estimated fair value of contingent consideration			0
All other
Business Combination, Consideration Transferred [Abstract]
Cash, net of cash acquired			867,300
Shares transferred			0
Total consideration			970,200
Identifiable assets acquired and liabilities assumed:
Accounts receivable and contract assets			271,200
Current assets			26,700
Property and equipment			250,600
Long-term assets, primarily operating lease right-of-use assets			81,800
Amortizing intangible assets			444,200
Accounts payable			(49,300)
Current liabilities, including current portion of operating lease liabilities			(136,700)
Long-term debt, including finance lease obligations			(4,400)
Long-term liabilities, primarily operating lease liabilities and deferred income taxes			(76,500)
Total identifiable net assets			807,600
Goodwill			166,200
Total net assets acquired, including goodwill			973,800
Bargain purchase gain			(3,600)
Total consideration			970,200
All other | Contingent Consideration
Business Combination, Consideration Transferred [Abstract]
Estimated fair value of contingent consideration			$ 102,900

Acquisitions, Goodwill, and O_6

Acquisitions, Goodwill, and Other Intangible Assets - Pro Forma Financial Information, Acquisition Results, and Acquisition and Integration Costs - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Business Acquisition [Line Items]
Business combinations, unaudited supplemental pro forma revenue	$ 2,300	$ 2,500	$ 4,300	$ 4,900
Business combinations, unaudited supplemental pro forma net income (loss)	20.4	81.6	(15.4)	125.1
Business combinations, consolidated acquisition-related revenue	602.3	271.4	1,307	358.2
Business combinations, consolidated acquisition-related income (loss)	18.7	3.5
Business combination, integration related costs	12.5		26.1
Business combination, integration related liabilities	1.5		1.5
2021 Acquisitions, Henkels & McCoy Group, Inc. and INTREN
Business Acquisition [Line Items]
Business combinations, consolidated acquisition-related revenue	480.4		$ 1,028.5
Business combinations, consolidated acquisition-related income (loss)	$ 9.4			4.7
INTREN
Business Acquisition [Line Items]
Business combinations, consolidated acquisition-related revenue		$ 102.5		$ 102.5

Acquisitions, Goodwill, and O_7

Acquisitions, Goodwill, and Other Intangible Assets - IEA Acquisition (Details) - Subsequent Event	1 Months Ended
	Jul. 31, 2022 $ / shares
Bridge Facility, Term Loan | Credit Facility
Business Acquisition [Line Items]
Debt instrument, term	364 days
IEA Acquisition
Business Acquisition [Line Items]
Business acquisition, share price (in dollars per share)	$ 14
IEA Acquisition | Bridge Facility, Term Loan | Credit Facility
Business Acquisition [Line Items]
Debt instrument, term	364 days
IEA Acquisition | Cash
Business Acquisition [Line Items]
Business acquisition, share price (in dollars per share)	$ 10.50
Business acquisition, percentage of consideration allocation	0.75
IEA Acquisition | Stock
Business Acquisition [Line Items]
Business acquisition, share price (in dollars per share)	$ 3.50
Business acquisition, percentage of consideration allocation	0.25

Fair Value of Financial Instr_2

Fair Value of Financial Instruments - Acquisition-Related Contingent Consideration and Other Liabilities - Narrative (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Fair Value, Financial Instruments Measured on a Recurring Basis [Line Items]
Acquisition-related contingent consideration liabilities, net increase (decrease), measurement period adjustments			$ (42,800,000)
All Acquisitions
Fair Value, Financial Instruments Measured on a Recurring Basis [Line Items]
Acquisition-related contingent consideration liabilities, range of potential undiscounted earn-out liabilities, low	$ 17,000,000		17,000,000
Acquisition-related contingent consideration liabilities, range of potential undiscounted earn-out liabilities, high	$ 183,000,000		$ 183,000,000
Discount Rate | Minimum
Fair Value, Financial Instruments Measured on a Recurring Basis [Line Items]
Acquisition-related contingent consideration liabilities, measurement input, discount rate	0.120		0.120
Discount Rate | Maximum
Fair Value, Financial Instruments Measured on a Recurring Basis [Line Items]
Acquisition-related contingent consideration liabilities, measurement input, discount rate	0.140		0.140
Discount Rate | Weighted Average
Fair Value, Financial Instruments Measured on a Recurring Basis [Line Items]
Acquisition-related contingent consideration liabilities, measurement input, discount rate	0.125		0.125
Earn-Out Liabilities
Fair Value, Financial Instruments Measured on a Recurring Basis [Line Items]
Acquisition-related contingent consideration liabilities, estimated fair value	$ 135,300,000		$ 135,300,000		$ 160,200,000
Acquisition-related contingent consideration liabilities, additions from new business combinations	0	$ 40,100,000	1,700,000	$ 40,100,000
Acquisition-related contingent consideration liabilities, net increase (decrease), measurement period adjustments	3,400,000	0	1,500,000	0
Acquisition-related contingent consideration liabilities, net increase (decrease), fair value adjustments, expense (income)	(1,300,000)	(8,900,000)	(1,300,000)	(9,300,000)
Acquisition-related contingent consideration liabilities, payments	26,800,000	46,200,000	26,800,000	46,200,000
Earn-Out Liabilities | Other Current Liabilities
Fair Value, Financial Instruments Measured on a Recurring Basis [Line Items]
Acquisition-related contingent consideration liabilities, estimated fair value	39,600,000		39,600,000		38,800,000
Earn-Out Liabilities | Mandatorily Redeemable Stock
Fair Value, Financial Instruments Measured on a Recurring Basis [Line Items]
Acquisition-related contingent consideration liabilities, estimated fair value	$ 13,900,000		$ 13,900,000		$ 13,900,000
Acquisition-related contingent consideration liabilities, payments		$ 2,100,000		$ 2,100,000

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Equity Investments - Narrative (Details) - USD ($)	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Equity investments, carrying value	$ 288,000,000		$ 267,000,000
Equity investments, adjusted cost basis, amount	20,000,000		20,000,000
Equity investments, impairments	$ 0	$ 0
Waha JVs
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Equity method investments, ownership percentage	33%
Equity investments, carrying value	$ 245,000,000		216,000,000
CCI
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Equity investments, ownership percentage	15%
Equity investments, adjusted cost basis, amount	$ 15,000,000		15,000,000
FM Tech
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Equity method investments, ownership percentage	50%
Equity investments, carrying value	$ 18,000,000		$ 17,000,000

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - The Waha JVs - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Equity method investments, equity in earnings (losses)	$ 6,587	$ 7,525	$ 13,364	$ 14,871
Equity method investments, net investment	288,000		288,000		$ 267,000
Unrealized gains (losses) on equity investee activity, net of tax	7,843	(3,465)	21,597	10,374
Waha JVs
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Equity method investments, equity in earnings (losses)	7,600	8,600	15,000	16,300
Equity method investments, distributions of earnings received, operating cash flows	4,600	0	7,600	0
Equity method investments, cumulative undistributed earnings	102,300		102,300
Equity method investments, net investment	245,000		245,000		$ 216,000
Unrealized gains (losses) on equity investee activity, before tax	10,400	(4,900)	28,700	12,300
Unrealized gains (losses) on equity investee activity, net of tax	$ 7,800	$ (3,700)	$ 21,600	$ 9,400

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Other Investments - Other Equity Method Investments - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Equity method investments, net investment	$ 288,000,000		$ 288,000,000			$ 267,000,000
Equity method investments, equity in earnings (losses)	6,587,000	$ 7,525,000	13,364,000	$ 14,871,000
Telecommunications Equity Method Investees
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Equity method investments, net investment	20,000,000		20,000,000			20,000,000
Equity method investments, equity contributions	600,000	0	1,100,000	2,000,000
Equity method investments, equity in earnings (losses)	(500,000)	(1,000,000)	(900,000)	(1,000,000)
Payments for advance to affiliate	0		0	200,000
Telecommunications Equity Method Investees | Subcontracting Arrangements
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Expenses, related party	1,600,000	2,400,000	2,500,000	4,100,000
Payables, related party	100,000		100,000			300,000
Telecommunications Equity Method Investees | Employee Leasing and Advanced Receivable Arrangement
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Receivables, related party	600,000		600,000			900,000
FM Tech
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Equity method investments, net investment	$ 18,000,000		$ 18,000,000			17,000,000
Equity method investments, ownership percentage	50%		50%
Certain Entities, Each Accounted for Using Equity Method Investments
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Equity method investments, net investment		4,000,000		4,000,000		4,000,000
Equity method investments, equity in earnings (losses)	$ 200,000		$ 300,000
Expenses, related party	$ 1,400,000		$ 5,000,000
Equity method investments, ownership percentage	49%		49%
Payables, related party	$ 100,000		$ 100,000
Line of credit, amount drawn	4,500,000		4,500,000			8,500,000
Certain Entities, Each Accounted for Using Equity Method Investments | Other Current Assets
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Line of credit, amount drawn	500,000		500,000			$ 400,000
Confluence
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Equity method investments, equity contributions	200,000	600,000	1,900,000	1,000,000
Equity method investments, equity in earnings (losses)	$ (100,000)	$ 300,000	$ (300,000)	$ 300,000
Equity method investments, ownership percentage					75%
Financing commitments (up to)							$ 2,500,000

Fair Value of Financial Instr_6

Fair Value of Financial Instruments - Other Investments - AVCT - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Fair Value, Financial Instruments Measured on a Recurring Basis [Line Items]
Equity investment and warrants, amount paid	$ 6		$ 6		$ 6
AVCT
Fair Value, Financial Instruments Measured on a Recurring Basis [Line Items]
Equity investment ownership, percentage	3%		3%		3%
Beneficial ownership of all interests, percentage	5%		5%		6%
Unrealized fair value measurement gains (losses), AVCT shares	$ (2.2)	$ 1	$ (7.1)
Unrealized gains (losses) on AVCT convertible debentures, before tax		0.3		$ 1.3
Unrealized gains (losses) on AVCT convertible debentures, net of tax		$ 0.2		$ 1
AVCT | Common Stock
Fair Value, Financial Instruments Measured on a Recurring Basis [Line Items]
Equity securities, fair value	$ 1		$ 1		$ 8

Fair Value of Financial Instr_7

Fair Value of Financial Instruments - Senior Notes - Narrative (Details) - 4.50% Senior Notes - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Fair Value Disclosure of Liabilities Not Measured at Fair Value [Line Items]
Senior notes, gross carrying amount	$ 600	$ 600
Senior Notes
Fair Value Disclosure of Liabilities Not Measured at Fair Value [Line Items]
Debt instrument, interest rate (percentage)	4.50%	4.50%
Senior notes, estimated fair value	$ 542.3	$ 619.5

Accounts Receivable, Net of A_3

Accounts Receivable, Net of Allowance, and Contract Assets and Liabilities - Schedule of Accounts Receivable, Net of Allowance and Contract Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Receivables [Abstract]
Contract billings	$ 1,022,900	$ 1,027,100
Less allowance	(8,300)	(7,800)
Accounts receivable, net of allowance	1,014,616	1,019,324
Contract Assets [Abstract]
Retainage	273,300	296,800
Unbilled receivables	1,246,100	931,100
Contract assets	$ 1,519,387	$ 1,227,927

Accounts Receivable, Net of A_4

Accounts Receivable, Net of Allowance, and Contract Assets and Liabilities - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Schedule of Accounts Receivable, Net of Allowance, and Contract Assets and Liabilities [Line Items]
Accounts receivable, credit loss provision (recovery)			$ 500	$ (11,000)
Contract liabilities	$ 298,620		298,620		$ 313,965
Contract with customer liability, deferred revenue current	282,600		282,600		$ 296,100
Deferred revenue, revenue recognized	59,500		245,700
Non-recourse financing agreement, discount charge	19,387	$ 13,829	35,428	26,288
Receivables, Non-Recourse Arrangement
Schedule of Accounts Receivable, Net of Allowance, and Contract Assets and Liabilities [Line Items]
Non-recourse financing agreement, discount charge	$ 1,500	$ 800	$ 2,500	$ 1,500
Minimum
Schedule of Accounts Receivable, Net of Allowance, and Contract Assets and Liabilities [Line Items]
Retainage, percentage of contract billings			5%
Maximum
Schedule of Accounts Receivable, Net of Allowance, and Contract Assets and Liabilities [Line Items]
Retainage, percentage of contract billings			10%

Property and Equipment, Net - S

Property and Equipment, Net - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Property and Equipment [Line Items]
Property and equipment	$ 3,108,800	$ 2,840,400
Less accumulated depreciation and amortization	(1,537,000)	(1,404,300)
Property and equipment, net	1,571,828	1,436,087
Land
Property and Equipment [Line Items]
Property and equipment	55,800	40,000
Buildings and leasehold improvements
Property and Equipment [Line Items]
Property and equipment	86,200	94,100
Machinery and equipment
Property and Equipment [Line Items]
Property and equipment	2,616,600	2,411,000
Office furniture and equipment
Property and Equipment [Line Items]
Property and equipment	275,800	262,600
Construction in progress
Property and Equipment [Line Items]
Property and equipment	$ 74,400	$ 32,700

Property and Equipment, Net - N

Property and Equipment, Net - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Capitalized internal-use software, gross	$ 182.1	$ 176.4
Capitalized internal-use software, net	$ 42.4	$ 43.9

Debt - Schedule of Carrying Val

Debt - Schedule of Carrying Values of Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Finance lease and other obligations	$ 351,400	$ 310,300
Total debt obligations	2,286,900	2,032,600
Less unamortized deferred financing costs	(16,800)	(18,500)
Total debt, net of deferred financing costs	2,270,100	2,014,100
Current portion of long-term debt	151,987	137,912
Long-term debt	2,118,084	1,876,233
Credit Facility | Revolving Loans
Debt Instrument [Line Items]
Long-term debt obligations	985,500	772,300
Credit Facility | Term Loan
Debt Instrument [Line Items]
Long-term debt obligations	350,000	350,000
Senior Notes | 4.50% Senior Notes
Debt Instrument [Line Items]
Long-term debt obligations	$ 600,000	$ 600,000
Debt instrument, interest rate (percentage)	4.50%	4.50%

Debt - Senior Credit Facility -

Debt - Senior Credit Facility - Narrative (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended	6 Months Ended
	Mar. 31, 2025	Mar. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Line of credit facility, letters of credit issued			$ 215.8	$ 188.5
Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			2,000
Line of credit facility, letters of credit issued			$ 197.5	$ 166.3
Line of credit facility, unused facility fee (percentage)		0.175%	0.175%
Credit Facility | Revolving Loans
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			$ 1,650
Weighted average interest rate (percentage)			2.61%	2.32%
Line of credit facility, remaining borrowing capacity			$ 466.9	$ 711.5
Credit Facility | Term Loan
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			350
Line of credit facility, term loan, amount of quarterly principal installment payments			$ 2.2
Line of credit facility, interest rate (percentage)			2.92%	1.35%
Credit Facility | Term Loan | Forecast
Debt Instrument [Line Items]
Line of credit facility, term loan, amount of quarterly principal installment payments	$ 4
Credit Facility | Foreign Denomination
Debt Instrument [Line Items]
Long-term line of credit			$ 0.5	$ 32.3
Line of credit facility, remaining borrowing capacity			299.5	267.7
Credit Facility | Letters of Credit
Debt Instrument [Line Items]
Line of credit facility, capacity available for letters of credit			$ 452.5	$ 483.7
Credit Facility | Letters of Credit | Performance Standby
Debt Instrument [Line Items]
Line of credit facility, interest rate (percentage)			0.4375%	0.4375%
Credit Facility | Letters of Credit | Commercial and/or Financial Standby
Debt Instrument [Line Items]
Line of credit facility, interest rate (percentage)			1.25%	1.25%

Debt - Other Credit Facilities

Debt - Other Credit Facilities - Narrative (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Letters of credit issued	$ 215,800,000	$ 188,500,000
Other Credit Facilities
Debt Instrument [Line Items]
Long-term debt obligations	0	0
Standby Letters of Credit | Line of Credit
Debt Instrument [Line Items]
Letters of credit issued	$ 18,300,000	$ 22,200,000
Standby Letters of Credit | Line of Credit | Letters of Credit
Debt Instrument [Line Items]
Line of credit facility, interest rate (percentage)	0.50%	0.40%

Debt - Debt Guarantees - Narrat

Debt - Debt Guarantees - Narrative (Details)	Jun. 30, 2022	Dec. 31, 2021
4.50% Senior Notes | Senior Notes
Debt Instrument [Line Items]
Debt instrument, interest rate (percentage)	4.50%	4.50%

Debt - Additional Information -

Debt - Additional Information - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
Debt instruments, accrued interest payable	$ 13.1	$ 11.7

Debt - Bridge Facility and Term

Debt - Bridge Facility and Term Loan Commitments (Details) - USD ($)	1 Months Ended
	Jul. 31, 2022	Aug. 01, 2022	Jun. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Financing costs			$ 16,800,000	$ 18,500,000
Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			$ 2,000,000,000
Bridge Facility and Term Loan Facility | Credit Facility | Subsequent Event
Debt Instrument [Line Items]
Financing costs		$ 3,000,000
Bridge Facility, Term Loan | Credit Facility | Subsequent Event
Debt Instrument [Line Items]
Debt instrument, term	364 days
Line of credit facility, maximum borrowing capacity	$ 1,000,000,000
Term Facility, Three-Year Term Loan | Credit Facility | Subsequent Event
Debt Instrument [Line Items]
Debt instrument, term	3 years
Line of credit facility, maximum borrowing capacity	$ 500,000,000
Term Facility, Five-Year Term Loan | Credit Facility | Subsequent Event
Debt Instrument [Line Items]
Debt instrument, term	5 years
Line of credit facility, maximum borrowing capacity	$ 500,000,000

Lease Obligations - Narrative (

Lease Obligations - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Lessee, Lease, Description [Line Items]
Leases, remaining lease terms			11 years
Finance leases, assets, gross	$ 624.8		$ 624.8		$ 653.5
Assets held under finance leases, location	Property and equipment, net		Property and equipment, net		Property and equipment, net
Finance leases, assets, net	$ 452.3		$ 452.3		$ 468.5
Finance leases, assets, depreciation	20	$ 18.7	40.3	$ 37.7
Operating leases, additions	$ 18.4	79.7	$ 45.3	85.3
Operating leases, term of contract	1 year		1 year
Operating leases, expense	$ 33.9	28.1	$ 67.9	55.5
Operating leases, variable lease costs	2.5	2.9	5.5	5.1
Operating leases, short-term leases, expense	$ 53.7	$ 130.8	$ 159.3	240.9
Finance leases, weighted average remaining lease term (in years)	2 years 9 months 18 days		2 years 9 months 18 days
Finance leases, weighted average discount rate, percent	3.40%		3.40%
Operating leases, weighted average remaining lease term (in years)	4 years 3 months 18 days		4 years 3 months 18 days
Operating leases, weighted average discount rate, percent	2.90%		2.90%
Leases not yet commenced, undiscounted amount	$ 20		$ 20
Leases not yet commenced, term of contract	4 years		4 years
2022 Acquisitions
Lessee, Lease, Description [Line Items]
Operating leases, additions				$ 74.6
Minimum | Equipment Leases
Lessee, Lease, Description [Line Items]
Leases, renewal term			1 year
Minimum | Facility Leases
Lessee, Lease, Description [Line Items]
Leases, renewal term			1 year
Maximum | Equipment Leases
Lessee, Lease, Description [Line Items]
Leases, renewal term			5 years
Maximum | Facility Leases
Lessee, Lease, Description [Line Items]
Leases, renewal term			5 years

Lease Obligations - Schedule of

Lease Obligations - Schedule of Future Minimum Lease Commitments (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Finance Leases
2022, remaining six months	$ 79,700
2023	126,400
2024	83,300
2025	51,300
2026	11,500
Thereafter	400
Total minimum lease payments	352,600
Less amounts representing interest	(15,900)
Total lease obligations, net of interest	336,700
Less current portion	147,100
Long-term portion of lease obligations, net of interest	$ 189,600
Finance lease liability, current, location	Current portion of long-term debt, including finance leases	Current portion of long-term debt, including finance leases
Finance lease liability, long-term, location	Long-term debt, including finance leases	Long-term debt, including finance leases
Operating Leases
2022, remaining six months	$ 48,900
2023	79,400
2024	61,800
2025	39,400
2026	25,200
Thereafter	26,800
Total minimum lease payments	281,500
Less amounts representing interest	(16,600)
Total lease obligations, net of interest	264,900
Less current portion	88,365	$ 95,426
Long-term portion of lease obligations, net of interest	$ 176,549	$ 176,378

Stock-Based Compensation and _3

Stock-Based Compensation and Other Employee Benefit Plans - Narrative (Details) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Stock-Based Compensation and Other Employee Benefit Plans [Line Items]
Stock-based compensation plans, number of shares available for future grant (in shares)	3,404		3,404
Non-cash stock-based compensation expense	$ 6.8	$ 6.1	$ 13.2	$ 11.6
Stock-based compensation, income tax benefits	$ 1.2	$ 1.2	3.4	2.3
Stock-based compensation, vested awards, net income tax benefits			$ 0.9	$ 0.1

Stock-Based Compensation and _4

Stock-Based Compensation and Other Employee Benefit Plans - Restricted Shares, Narrative (Details) - Restricted Shares - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Stock-Based Compensation and Other Employee Benefit Plans [Line Items]
Stock-based compensation awards, unearned compensation	$ 44.3		$ 44.3
Stock-based compensation awards, unearned compensation, weighted average expected recognition period (in years)	2 years
Stock-based compensation, vested awards, intrinsic value	$ 0.2	$ 0.5	$ 19.2	$ 11.3

Stock-Based Compensation and _5

Stock-Based Compensation and Other Employee Benefit Plans - Schedule of Activity, Restricted Shares (Details)	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Restricted Shares
Restricted Shares
Non-vested restricted shares, beginning balance (in shares)	1,748,685
Granted (in shares)	179,247
Vested (in shares)	(229,325)
Canceled/forfeited (in shares)	(9,635)
Non-vested restricted shares, ending balance (in shares)	1,688,972
Per Share Weighted Average Grant Date Fair Value
Non-vested restricted shares, beginning balance (in dollars per share) | $ / shares	$ 43.73
Granted (in dollars per share) | $ / shares	86.49
Vested (in dollars per share) | $ / shares	47.34
Canceled/forfeited (in dollars per share) | $ / shares	39.13
Non-vested restricted shares, ending balance (in dollars per share) | $ / shares	$ 47.81
Restricted Stock Units
Restricted Shares
Non-vested restricted shares, beginning balance (in shares)	1,300
Non-vested restricted shares, ending balance (in shares)	2,150

Stock-Based Compensation and _6

Stock-Based Compensation and Other Employee Benefit Plans - ESPP (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Stock-Based Compensation and Other Employee Benefit Plans [Line Items]
Common shares issued (in shares)	31,888	20,191	56,625	39,033
Employee Stock Purchase Plans
Stock-Based Compensation and Other Employee Benefit Plans [Line Items]
ESPP purchase price, percent			85%
Cash proceeds	$ 1.8	$ 1.8	$ 3.6	$ 3.2
Compensation expense	$ 0.3	$ 0.2	$ 0.7	$ 0.5

Other Retirement Plans (Details

Other Retirement Plans (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022 USD ($) employee	Jun. 30, 2021 USD ($) employee	Jun. 30, 2022 USD ($) employee	Jun. 30, 2021 USD ($) employee
Covered Employees and Contributions, Multiemployer Plans [Line Items]
Multiemployer plan, employer contribution, cost	$ 36.2	$ 29.7	$ 66.4	$ 54.4
Pension
Covered Employees and Contributions, Multiemployer Plans [Line Items]
Multiemployer plan, employer contribution, cost	22.3	21.7	39.3	44.2
Other Multiemployer
Covered Employees and Contributions, Multiemployer Plans [Line Items]
Multiemployer plan, employer contribution, cost	$ 13.9	$ 8	$ 27.1	$ 10.2
Low
Covered Employees and Contributions, Multiemployer Plans [Line Items]
Multiemployer plans, covered employees (in number of employees) | employee	6,672	2,532	6,601	2,412
High
Covered Employees and Contributions, Multiemployer Plans [Line Items]
Multiemployer plans, covered employees (in number of employees) | employee	7,136	6,979	7,136	6,979

Equity (Details)

Equity (Details) - USD ($)	3 Months Ended			6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Equity, Treasury Stock [Line Items]
Treasury stock acquired (in shares)	936,000		0	1,124,000	0
Treasury stock acquired, value	$ 67,500,000			$ 81,291,000
Treasury shares reissued (in shares)	100,000
Treasury shares reissued	$ 4,300,000
December 2018 Share Repurchase Program
Equity, Treasury Stock [Line Items]
Treasury stock acquired (in shares)		100,000
Treasury stock acquired, value		$ 8,600,000
Share repurchase program, amount authorized, value	100,000,000			$ 100,000,000
March 2020 Share Repurchase Program
Equity, Treasury Stock [Line Items]
Treasury stock acquired (in shares)				1,000,000
Treasury stock acquired, value				$ 72,700,000
Share repurchase program, amount authorized, value	150,000,000			150,000,000
Stock repurchase program, remaining authorized repurchase amount	$ 77,300,000			$ 77,300,000

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Consolidated effective tax rate, percent	10.90%	26.30%	37.40%	28.40%
Tax benefit (expense), share-based payment arrangement			$ 1	$ (2.3)
Tax benefit (expense), other adjustments			$ 2

Segments and Related Informat_2

Segments and Related Information - Narrative (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) segment	Jun. 30, 2021 USD ($)
Segment Reporting [Abstract]
Number of operating segments | segment			5
Number of reportable segments | segment			5
Segment Reporting, Other Significant Reconciling Item [Line Items]
Business combination, integration related costs	$ 12.5		$ 26.1
Corporate
Segment Reporting, Other Significant Reconciling Item [Line Items]
Gain (loss) on investments	(2.2)	$ 1	(7.1)	$ 1
2021 Acquisitions | Corporate
Segment Reporting, Other Significant Reconciling Item [Line Items]
Business combination, integration related costs	3		6.8
Power Delivery | 2021 Acquisitions | Operating Segments
Segment Reporting, Other Significant Reconciling Item [Line Items]
Business combination, integration related costs	7		14.1
Communications | 2021 Acquisitions | Operating Segments
Segment Reporting, Other Significant Reconciling Item [Line Items]
Business combination, integration related costs	1.1		1.9
Oil and Gas | 2021 Acquisitions | Operating Segments
Segment Reporting, Other Significant Reconciling Item [Line Items]
Business combination, integration related costs	$ 1.4		$ 3.3

Segments and Related Informat_3

Segments and Related Information - Schedule of Financial Information by Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Revenue:
Consolidated revenue	$ 2,301,792	$ 1,962,658	$ 4,256,192	$ 3,738,082
Consolidated EBITDA	152,300	224,100	231,000	422,500
Consolidated depreciation and amortization	114,700	$ 107,400	225,500	$ 197,900
Consolidated segment assets	$ 7,404,686		$ 7,404,686		$ 7,121,393
Communications | Customer Concentration Risk | Revenue | Utilities
Revenue:
Utilities customers, percentage of communications segment revenue	24.10%	20.60%	24.80%	20.40%
Reportable Segments | Communications
Revenue:
Consolidated revenue	$ 822,000	$ 630,400	$ 1,486,200	$ 1,199,000
Consolidated EBITDA	84,200	72,700	124,600	121,500
Consolidated depreciation and amortization	30,700	23,800	59,700	45,600
Consolidated segment assets	2,349,400		2,349,400		2,100,900
Reportable Segments | Communications | Revision of Prior Period, Adjustment
Revenue:
Consolidated segment assets	69,400		69,400
Reportable Segments | Clean Energy and Infrastructure
Revenue:
Consolidated revenue	494,500	481,500	930,400	831,900
Consolidated EBITDA	(5,200)	15,600	5,600	26,400
Consolidated depreciation and amortization	11,700	10,500	23,100	18,100
Consolidated segment assets	1,045,100		1,045,100		1,067,000
Reportable Segments | Oil and Gas
Revenue:
Consolidated revenue	341,200	621,400	552,200	1,346,900
Consolidated EBITDA	62,800	138,100	84,200	305,700
Consolidated depreciation and amortization	32,200	56,200	63,800	108,300
Consolidated segment assets	1,576,600		1,576,600		1,527,600
Reportable Segments | Oil and Gas | Revision of Prior Period, Adjustment
Revenue:
Consolidated segment assets	77,000		77,000
Reportable Segments | Power Delivery
Revenue:
Consolidated revenue	646,500	232,500	1,296,900	366,000
Consolidated EBITDA	41,400	9,300	87,500	12,900
Consolidated depreciation and amortization	36,800	14,100	72,500	20,200
Consolidated segment assets	2,015,400		2,015,400		2,017,200
Reportable Segments | Power Delivery | Revision of Prior Period, Adjustment
Revenue:
Consolidated segment assets	(192,200)		(192,200)
Reportable Segments | Other
Revenue:
Consolidated revenue	0	0	0	0
Consolidated EBITDA	7,400	8,300	14,400	15,800
Consolidated depreciation and amortization	0	0	0	0
Consolidated segment assets	276,600		276,600		238,100
Eliminations
Revenue:
Consolidated revenue	(2,400)	(3,100)	(9,500)	(5,700)
Corporate
Revenue:
Consolidated EBITDA	(38,300)	(19,900)	(85,300)	(59,800)
Consolidated depreciation and amortization	3,300	$ 2,800	6,400	$ 5,700
Consolidated segment assets	141,600		141,600		$ 170,600
Corporate | Revision of Prior Period, Adjustment
Revenue:
Consolidated segment assets	$ 45,800		$ 45,800

Segments and Related Informat_4

Segments and Related Information - Reconciliation of Consolidated Income before Income Taxes to EBITDA (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
EBITDA Reconciliation:
Income (loss) before income taxes	$ 18,247	$ 102,827	$ (29,861)	$ 198,256
Interest expense, net	19,387	13,829	35,428	26,288
Depreciation	87,001	87,501	172,195	166,766
Amortization of intangible assets	27,673	19,923	53,263	31,170
Consolidated EBITDA	$ 152,300	$ 224,100	$ 231,000	$ 422,500

Segments and Related Informat_5

Segments and Related Information - Foreign Operations and Other - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Segments and Related Information [Line Items]
Revenue	$ 2,301,792	$ 1,962,658	$ 4,256,192	$ 3,738,082
Property and equipment, net	$ 1,571,828		$ 1,571,828		$ 1,436,087
Govermment | Revenue Benchmark | Customer Concentration Risk
Segments and Related Information [Line Items]
Concentration risk, percentage of total	7%	6%	7%	5%
United States
Segments and Related Information [Line Items]
Revenue	$ 2,300,000	$ 1,900,000	$ 4,200,000	$ 3,700,000
Property and equipment, net	1,500,000		1,500,000		1,400,000
Intangible assets and goodwill, net	2,100,000		2,100,000		2,100,000
Foreign Operations
Segments and Related Information [Line Items]
Revenue	51,300	$ 33,400	75,800	$ 79,900
Property and equipment, net	23,900		23,900		24,500
Intangible assets and goodwill, net	$ 40,700		$ 40,700		$ 43,800
Foreign Operations | Accounts Receivable, Net, Less Deferred Revenue | Geographic Concentration Risk
Segments and Related Information [Line Items]
Concentration risk, percentage of total			2%		2%

Segments and Related Informat_6

Segments and Related Information - Significant Customers - Narrative (Details)	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021
Revenue Benchmark | Enbridge, Inc. | Customer Concentration Risk
Segments and Related Information [Line Items]
Concentration risk, percentage of total	12%	18%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	Sep. 30, 2021
Loss Contingencies [Line Items]
Other current assets	$ 154,108	$ 81,884
Third Quarter Settlement | Settled Litigation
Loss Contingencies [Line Items]
Other current assets	$ 12,000		$ 25,000

Commitments and Contingencies_2

Commitments and Contingencies - Letters of Credit, Bonds, Self-Insurance, Multiemployer Plans, Indemnities - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Commitments and Contingencies [Line Items]
Letters of credit issued	$ 215,800	$ 188,500
Cash	138,929	360,736
Indemnities, accrued project close-out liabilities	40,000	40,000
Pension
Commitments and Contingencies [Line Items]
Withdrawal liability	3,300	3,400
Pension | HMG
Commitments and Contingencies [Line Items]
Quarterly benefit payment	74
Corporate Joint Venture
Commitments and Contingencies [Line Items]
Cash	13,100	14,600
Captive Insurance Company
Commitments and Contingencies [Line Items]
Cash	300	300
Self-Insurance | Workers' Compensation, General and Automobile Policies
Commitments and Contingencies [Line Items]
Self-insurance reserve	190,800	189,800
Self-Insurance | Workers' Compensation, General and Automobile Policies | Other Long-Term Liabilities
Commitments and Contingencies [Line Items]
Self-insurance reserve, non-current	125,400	126,500
Self-Insurance | Employee Group Medical Claims
Commitments and Contingencies [Line Items]
Self-insurance reserve	4,400	4,200
Performance and Payment Bonds
Commitments and Contingencies [Line Items]
Bonded projects, estimated costs to complete	770,700	768,800
Performance and Payment Bonds | Subsidiaries
Commitments and Contingencies [Line Items]
Outstanding bonds, amount	2,154,300	2,155,200
Performance and Payment Bonds | Subsidiaries | Corporate Joint Venture
Commitments and Contingencies [Line Items]
Outstanding bonds, amount	115,000	115,000
Financial Guarantees | Self-Insurance | Workers' Compensation, General and Automobile Policies
Commitments and Contingencies [Line Items]
Letters of credit issued	154,300	125,700
Surety Bonds | Self-Insurance | Workers' Compensation
Commitments and Contingencies [Line Items]
Outstanding bonds, amount	$ 52,900	$ 52,900

Commitments and Contingencies_3

Commitments and Contingencies - Investment Arrangements (Details) $ in Thousands	Jun. 30, 2022 USD ($) constructionProject	Dec. 31, 2021 USD ($)
Other Commitments [Line Items]
Number of joint ventures | constructionProject	3
Cash	$ 138,929	$ 360,736
Proportionately Consolidated Non-Controlled Joint Venture
Other Commitments [Line Items]
Cash	$ 13,100	$ 14,600
Proportionately Consolidated Non-Controlled Joint Venture | Joint Ventures That Provide Electrical Transmission Infrastructure Services | Minimum
Other Commitments [Line Items]
Proportionately consolidated non-controlled joint venture, ownership percentage	85%
Proportionately Consolidated Non-Controlled Joint Venture | Joint Ventures That Provide Electrical Transmission Infrastructure Services | Maximum
Other Commitments [Line Items]
Proportionately consolidated non-controlled joint venture, ownership percentage	90%
Proportionately Consolidated Non-Controlled Joint Venture | Joint Venture Civil Construction Project | Minimum
Other Commitments [Line Items]
Proportionately consolidated non-controlled joint venture, ownership percentage	30%
Proportionately Consolidated Non-Controlled Joint Venture | Joint Venture Civil Construction Project | Maximum
Other Commitments [Line Items]
Proportionately consolidated non-controlled joint venture, ownership percentage	50%

Commitments and Contingencies_4

Commitments and Contingencies - Concentrations of Risk - Narrative (Details) - customer	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Concentration Risk [Line Items]
Number of customers			920
Revenue | Customer Concentration Risk | Ten Largest Customers
Concentration Risk [Line Items]
Concentration risk, percentage of total	42%	53%	43%	58%

Related Party Transactions (Det

Related Party Transactions (Details)	1 Months Ended	3 Months Ended		6 Months Ended
	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) employee	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) employee	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)	Mar. 31, 2021
Related Party Transaction [Line Items]
Equity investments, carrying value		$ 288,000,000		$ 288,000,000		$ 267,000,000
Line of credit facility, letters of credit issued		215,800,000		215,800,000		188,500,000
Noncontrolling interest, percentage of voting interests acquired	15%		15%		15%
Proceeds from non-controlling interests	$ 6,800,000
2021 Acquisition, Acquisition Three
Related Party Transaction [Line Items]
Equity investments, carrying value		1,900,000		1,900,000		500,000
Community Condotte DeMoya JV, LLC
Related Party Transaction [Line Items]
Equity method investments, ownership percentage							25%
Equity method investments, equity contributions		0		500,000
Negative equity method investment		1,300,000		1,300,000		1,600,000
Management | Equipment, Supplies and Services
Related Party Transaction [Line Items]
Payments, related party		7,800,000	$ 30,700,000	14,600,000	$ 51,100,000
Payables, related party		800,000		800,000		600,000
Revenue, related party		1,300,000	900,000	5,100,000	2,100,000
Receivables, net, related party		2,500,000		2,500,000		400,000
Management | Subcontracting Arrangements
Related Party Transaction [Line Items]
Payments, related party		100,000	16,800,000	100,000	45,800,000
Payables, related party		$ 100,000		$ 100,000		500,000
Number of management members, subcontracting arrangement | employee		2		2
Management | Subcontracting Arrangements | Line of Credit
Related Party Transaction [Line Items]
Line of credit facility, letters of credit issued		$ 15,000,000		$ 15,000,000
Management | Subcontracting Arrangements | 2021 Acquisitions, Acquisition Two
Related Party Transaction [Line Items]
Payments, related party		500,000		700,000
Payables, related party		300,000		300,000
Revenue, related party		31,900,000		60,700,000
Receivables, net, related party		9,000,000		9,000,000		0
Management | Subcontracting Arrangements | 2020 Acquisitions
Related Party Transaction [Line Items]
Receivables, net, related party		400,000		400,000		400,000
Charges, related party		200,000	200,000	400,000	400,000
Management | Subcontracting Arrangements | Community Condotte DeMoya JV, LLC
Related Party Transaction [Line Items]
Receivables, net, related party		2,300,000		2,300,000		2,300,000
Immediate Family Member of Management | Equipment | CCI
Related Party Transaction [Line Items]
Payables, related party		800,000		800,000		800,000
Payments, net of rebates, related party		700,000	5,600,000	1,700,000	10,700,000
Chairman, Board of Directors
Related Party Transaction [Line Items]
Payments for life insurance policies		700,000	700,000	700,000	700,000
Chairman, Board of Directors | Lease Agreements
Related Party Transaction [Line Items]
Payments, related party		600,000	600,000	1,300,000	1,300,000
Executive Officers
Related Party Transaction [Line Items]
Life insurance assets, carrying amount		25,200,000		25,200,000		24,000,000
Executive Officers | Related Customer
Related Party Transaction [Line Items]
Receivables, net, related party		800,000		800,000		800,000
Charges, related party		300,000	300,000	600,000	600,000
Executive Officers | Construction Services
Related Party Transaction [Line Items]
Payments, related party		200,000	100,000	300,000	200,000
Former Owner Of Acquired Business | 2021 Acquisition, Acquisition One
Related Party Transaction [Line Items]
Equity investments, carrying value		0		0		$ 1,000,000
Chief Executive Officer
Related Party Transaction [Line Items]
Payments for life insurance policies		$ 500,000	$ 500,000	$ 500,000	$ 500,000