MasTec (MTZ) 10-Q 3 Nov 22 2022 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2022	Oct. 31, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 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		78,234,262
Entity Central Index Key	0000015615
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Revenue	$ 2,513,484	$ 2,404,332	$ 6,769,677	$ 6,142,414
Costs of revenue, excluding depreciation and amortization	2,187,835	2,057,336	5,949,262	5,246,427
Depreciation	91,291	95,366	263,487	262,132
Amortization of intangible assets	27,979	23,352	81,242	54,522
General and administrative expenses	125,068	86,902	404,243	238,995
Interest expense, net	26,885	13,091	62,313	39,379
Equity in earnings of unconsolidated affiliates, net	(6,059)	(8,714)	(19,423)	(23,585)
Other expense (income), net	174	(3,036)	(1,897)	(13,746)
Income before income taxes	60,311	140,035	30,450	338,290
(Provision for) benefit from income taxes	(11,089)	(27,578)	68	(83,956)
Net income	49,222	112,457	30,518	254,334
Net income attributable to non-controlling interests	326	1,370	388	2,147
Net income attributable to MasTec, Inc.	$ 48,896	$ 111,087	$ 30,130	$ 252,187
Earnings per share (Note 2):
Basic earnings per share (in dollars per share)	$ 0.66	$ 1.53	$ 0.41	$ 3.48
Basic weighted average common shares outstanding (in shares)	73,936	72,503	74,386	72,481
Diluted earnings per share (in dollars per share)	$ 0.65	$ 1.50	$ 0.38	$ 3.41
Diluted weighted average common shares outstanding (in shares)	75,073	73,977	75,576	73,921

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 49,222	$ 112,457	$ 30,518	$ 254,334
Other comprehensive income (loss):
Foreign currency translation losses, net of tax	(3,382)	(1,278)	(4,212)	(64)
Unrealized gains (losses) on investment activity, net of tax	10,070	(1,041)	31,667	9,333
Comprehensive income	55,910	110,138	57,973	263,603
Comprehensive income attributable to non-controlling interests	326	1,370	388	2,147
Comprehensive income attributable to MasTec, Inc.	$ 55,584	$ 108,768	$ 57,585	$ 261,456

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 95,676	$ 360,736
Accounts receivable, net of allowance	1,057,450	1,019,324
Contract assets	1,617,384	1,227,927
Inventories, net	127,546	92,595
Prepaid expenses	86,957	91,488
Other current assets	129,262	81,884
Total current assets	3,114,275	2,873,954
Property and equipment, net	1,588,059	1,436,087
Operating lease right-of-use assets	244,087	260,410
Goodwill	1,493,843	1,520,575
Other intangible assets, net	638,318	670,280
Other long-term assets	397,081	360,087
Total assets	7,475,663	7,121,393
Current liabilities:
Current portion of long-term debt, including finance leases	156,756	137,912
Current portion of operating lease liabilities	85,081	95,426
Accounts payable	934,542	663,063
Accrued salaries and wages	225,405	203,141
Other accrued expenses	226,879	229,936
Contract liabilities	249,702	313,965
Other current liabilities	108,118	141,155
Total current liabilities	1,986,483	1,784,598
Long-term debt, including finance leases	2,067,548	1,876,233
Long-term operating lease liabilities	168,511	176,378
Deferred income taxes	471,020	450,361
Other long-term liabilities	235,588	289,962
Total liabilities	4,929,150	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 - 95,467,645 and 95,371,211 (including 1,660,427 and 1,747,385 of unvested stock awards) as of September 30, 2022 and December 31, 2021, respectively	9,547	9,537
Capital surplus	1,055,239	1,033,615
Retained earnings	2,192,518	2,162,388
Accumulated other comprehensive loss	(51,321)	(78,776)
Treasury stock, at cost: 19,933,055 and 18,941,926 shares as of September 30, 2022 and December 31, 2021, respectively	(663,910)	(586,955)
Total MasTec, Inc. shareholders’ equity	2,542,073	2,539,809
Non-controlling interests	4,440	4,052
Total equity	2,546,513	2,543,861
Total liabilities and equity	$ 7,475,663	$ 7,121,393

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 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)	95,467,645	95,371,211
Treasury stock, shares (in shares)	19,933,055	18,941,926
Common Stock
Common stock, shares issued (in shares)	95,467,645	95,371,211
Restricted Stock Awards | Common Stock
Unvested stock awards (in shares)	1,660,427	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	254,334				252,187		252,187	2,147
Other comprehensive income (loss)	9,269					9,269	9,269
Non-cash stock-based compensation	17,673			17,673			17,673
Issuance (forfeiture) of restricted shares, net (in shares)		132,021
Issuance (forfeiture) of restricted shares, net	0	$ 13		(13)
Other stock issuances (shares withheld for taxes), net (in shares)		7,339
Other stock issuances (shares withheld for taxes), net	(2,441)	$ 1		(2,442)			(2,441)
Distributions to non-controlling interests	$ (76)							(76)
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 Sep. 30, 2021		93,246,800
Ending balance at Sep. 30, 2021	2,277,482	$ 9,325	$ (586,955)	847,242	2,085,744	(82,175)	2,273,181	4,301
Ending balance, treasury shares (in shares) at Sep. 30, 2021			(18,941,926)
Beginning balance, common shares outstanding (in shares) at Jun. 30, 2021		93,256,202
Beginning balance at Jun. 30, 2021	2,161,369	$ 9,326	$ (586,955)	841,190	1,974,657	(79,856)	2,158,362	3,007
Beginning balance, treasury shares (in shares) at Jun. 30, 2021			(18,941,926)
Condensed Unaudited Consolidated Statements of Equity
Net income	112,457				111,087		111,087	1,370
Other comprehensive income (loss)	(2,319)					(2,319)	(2,319)
Non-cash stock-based compensation	6,073			6,073			6,073
Issuance (forfeiture) of restricted shares, net (in shares)		(9,174)
Issuance (forfeiture) of restricted shares, net	0	$ (1)		1
Other stock issuances (shares withheld for taxes), net (in shares)		(228)
Other stock issuances (shares withheld for taxes), net	(22)			(22)			(22)
Distributions to non-controlling interests	$ (76)							(76)
Acquisition of treasury stock, at cost (in shares)	0
Ending balance, common shares outstanding (in shares) at Sep. 30, 2021		93,246,800
Ending balance at Sep. 30, 2021	$ 2,277,482	$ 9,325	$ (586,955)	847,242	2,085,744	(82,175)	2,273,181	4,301
Ending balance, treasury shares (in shares) at Sep. 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)
Condensed Unaudited Consolidated Statements of Equity
Net income	$ 30,518				30,130		30,130	388
Other comprehensive income (loss)	27,455					27,455	27,455
Non-cash stock-based compensation	18,870			18,870			18,870
Issuance (forfeiture) of restricted shares, net (in shares)		145,450
Issuance (forfeiture) of restricted shares, net	0	$ 15		(15)
Other stock issuances (shares withheld for taxes), net (in shares)		(49,016)
Other stock issuances (shares withheld for taxes), net	$ (4,122)	$ (5)		(4,117)			(4,122)
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 Sep. 30, 2022	95,467,645	95,467,645
Ending balance at Sep. 30, 2022	$ 2,546,513	$ 9,547	$ (663,910)	1,055,239	2,192,518	(51,321)	2,542,073	4,440
Ending balance, treasury shares (in shares) at Sep. 30, 2022	(19,933,055)		(19,933,055)
Beginning balance, common shares outstanding (in shares) at Jun. 30, 2022		95,491,405
Beginning 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
Beginning balance, treasury shares (in shares) at Jun. 30, 2022			(19,933,055)
Condensed Unaudited Consolidated Statements of Equity
Net income	49,222				48,896		48,896	326
Other comprehensive income (loss)	6,688					6,688	6,688
Non-cash stock-based compensation	5,698			5,698			5,698
Issuance (forfeiture) of restricted shares, net (in shares)		(23,312)
Issuance (forfeiture) of restricted shares, net	0	$ (2)		2
Other stock issuances (shares withheld for taxes), net (in shares)		(448)
Other stock issuances (shares withheld for taxes), net	$ (37)			(37)			(37)
Acquisition of treasury stock, at cost (in shares)	0
Ending balance, common shares outstanding (in shares) at Sep. 30, 2022	95,467,645	95,467,645
Ending balance at Sep. 30, 2022	$ 2,546,513	$ 9,547	$ (663,910)	$ 1,055,239	$ 2,192,518	$ (51,321)	$ 2,542,073	$ 4,440
Ending balance, treasury shares (in shares) at Sep. 30, 2022	(19,933,055)		(19,933,055)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Cash flows from operating activities:
Net income	$ 49,222	$ 112,457	$ 30,518	$ 254,334
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	91,291	95,366	263,487	262,132
Amortization of intangible assets	27,979	23,352	81,242	54,522
Non-cash stock-based compensation expense			18,870	17,673
(Benefit from) provision for deferred income taxes			(9,293)	439
Equity in earnings of unconsolidated affiliates, net	(6,059)	(8,714)	(19,423)	(23,585)
Gains on sales of assets, net			(21,914)	(10,704)
Non-cash interest expense, net			2,574	2,342
Other non-cash items, net			1,601	(8,218)
Changes in assets and liabilities, net of acquisitions:
Accounts receivable			(22,065)	(59,665)
Contract assets			(383,053)	(109,399)
Inventories			(36,130)	11,968
Other assets, current and long-term portion			34,060	(8,998)
Accounts payable and accrued expenses			293,899	134,487
Contract liabilities			(66,027)	(7,478)
Other liabilities, current and long-term portion			(49,675)	(10,753)
Net cash provided by operating activities			118,671	499,097
Cash flows from investing activities:
Cash paid for acquisitions, net of cash acquired			(71,841)	(604,907)
Capital expenditures			(213,325)	(132,348)
Proceeds from sale of property and equipment			47,195	25,465
Payments for other investments			(3,723)	(7,111)
Proceeds from other investments			0	557
Other investing activities, net			0	1,650
Net cash used in investing activities			(241,694)	(716,694)
Cash flows from financing activities:
Proceeds from credit facilities			2,578,000	795,414
Repayments of credit facilities			(2,429,583)	(606,575)
Payments of finance lease obligations			(131,259)	(117,437)
Repurchases of common stock			(81,291)	0
Payments of acquisition-related contingent consideration			(35,149)	(21,675)
Payments for acquisition-related contingent assets			(17,636)	0
Payments to non-controlling interests, including acquisition of interests			0	(8,965)
Payments for stock-based awards			(4,061)	(3,795)
Other financing activities, net			(18,499)	(2,503)
Net cash (used in) provided by financing activities			(139,478)	34,464
Effect of currency translation on cash			(2,559)	(61)
Net decrease in cash and cash equivalents			(265,060)	(183,194)
Cash and cash equivalents - beginning of period			360,736	423,118	$ 423,118
Cash and cash equivalents - end of period	$ 95,676	$ 239,924	95,676	239,924	$ 360,736
Supplemental cash flow information:
Interest paid			69,327	49,133
Income tax payments, net			1,827	62,720
Supplemental disclosure of non-cash information:
Additions to property and equipment from finance leases			$ 184,700	$ 128,337

Business, Basis of Presentation

Business, Basis of Presentation and Significant Accounting Policies	9 Months Ended
	Sep. 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. In October 2022, MasTec completed the acquisition of Infrastructure Energy Alternatives, Inc. (“IEA”), a leading utility-scale renewable energy infrastructure solutions providers in North America. IEA has expertise in engineering, procurement, construction and other service capabilities, with long-standing relationships across a diverse customer base. The Company expects to include IEA within its Clean Energy and Infrastructure segment. See Note 3 – Acquisitions, Goodwill and Other Intangible Assets, Net, for additional 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; recessionary issues; climate-related matters; market, regulatory and industry factors; global events, such as the ongoing military conflict in Ukraine; and public health matters. 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; certain other accruals and allowances; income taxes; and the estimated effects of litigation and other contingencies. General Economic, Regulatory and Market Conditions The Company has experienced, and may continue to experience, direct and indirect negative effects on its business and operations from negative economic, regulatory and market conditions, including recent inflationary effects on fuel prices, labor and materials costs, rising interest rates, potential recessionary impacts and supply chain disruptions that could negatively affect demand for new projects and/or delay existing project timing or cause increased project costs. 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. While the adverse effects of the COVID-19 pandemic began to subside in 2022, its effects vary, and economic conditions and business activities could be disrupted in the future. The extent to which general economic, regulatory and market conditions 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. 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 52% and 37% of consolidated revenue for the three month periods ended September 30, 2022 and 2021, respectively, and totaled 54% and 35% for the nine month periods ended September 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 nine month periods ended September 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, operational 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 nine month periods ended September 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 September 30, 2022 and 2021 totaled n et increases o f approximately $3.8 million and $5.2 million, respectively. For the nine month periods ended September 30, 2022 and 2021, such changes totaled net increases of approximately $10.7 million and $36.9 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 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 September 30, 2022, the amount of the Company’s remaining performance obligations was $5.3 billion. Based on current expectations, the Company anticipates it will recognize approximately $1.6 billion of its remaining performance obligations as revenue during 2022, with the vast 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 September 30, 2022 and December 31, 2021, the Company included approximately $141 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 September 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	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings per share is computed by dividing net income 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. The following table provides details underlying the Company’s earnings per share calculations for the periods indicated (in thousands): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2022 2021 2022 2021 Net income attributable to MasTec: Net income - basic (a) $ 48,896 $ 111,087 $ 30,130 $ 252,187 Fair value gain (loss) related to resolved contingent payments (b) $ 143 $ — $ 1,459 $ — Net income - diluted (a) $ 48,753 $ 111,087 $ 28,671 $ 252,187 Weighted average shares outstanding: Weighted average shares outstanding - basic (c) 73,936 72,503 74,386 72,481 Dilutive common stock equivalents (d)(e) 1,137 1,474 1,190 1,440 Weighted average shares outstanding - diluted 75,073 73,977 75,576 73,921 (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, Net. (b) For the three and nine month periods ended September 30, 2022, represents the fair value gain or loss related to additional contingent payments for which the contingency has been resolved as of September 30, 2022. See Note 3 – Acquisitions, Goodwill and Other Intangible Assets, Net for additional information. (c) For the three and nine month periods ended September 30, 2022, basic shares include approximately 140,000 and 114,000 weighted average shares, respectively, related to additional contingent payments. (d) For the three and nine month periods ended September 30, 2022, weighted average anti-dilutive common stock equivalents totaled approximately 8,000 and 135,000 respectively, and for the three and nine month periods ended September 30, 2021, totaled approximately 10,000 and 109,000, respectively. (e) For the three and nine month periods ended September 30, 2022, common stock equivalents included approximately 11,000 and 37,000 weighted average shares, respectively, related to additional contingent payments to the former owners of an acquired business. For the nine month period ended September 30, 2022, the Company repurchased approximately 1,124,000 shares of its common stock, the effect of which on the Company’s weighted average shares outstanding for the period was a reduction of approximately 598,000 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, Net	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Acquisitions, Goodwill, and Other Intangible Assets, Net	Acquisitions, Goodwill and Other Intangible Assets, Net The following table provides a reconciliation of changes in goodwill by reportable segment for the nine month period ended September 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 2.9 5.9 4.1 1.6 14.5 Measurement period adjustments (c) (11.4) 2.1 6.2 (36.8) (39.9) Currency translation adjustments — — (1.4) — (1.4) Goodwill, net as of September 30, 2022 $ 606.0 $ 174.1 $ 445.5 $ 268.2 $ 1,493.8 (a) The above described change in segment reporting for the HMG acquisition resulted in a decrease in goodwill for the Power Delivery segment of $23.4 million and increases 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 — 5.2 — 0.7 5.9 Measurement period adjustments (b) — 56.0 — (10.6) 45.4 Currency translation adjustments — — (2.1) — (2.1) Amortization expense (65.5) (6.6) (9.1) (81.2) Other intangible assets, net, as of September 30, 2022 $ 34.5 $ 480.8 $ 43.8 $ 79.2 $ 638.3 (a) Consists principally of 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 third quarter of 2022, the Company performed a quarterly review for indicators of impairment, which considered its results for the nine month period ended September 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 September 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 and/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 nine month period ended September 30, 2022, MasTec completed four 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; (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; (iii) a company specializing in the construction of overhead high voltage transmission lines, which acquisition is included within the Company’s Power Delivery segment and was effective in July; and (iv) a company that specializes in the production of concrete and aggregate products, which acquisition is included within the Company’s Clean Energy and Infrastructure segment and was effective in August. The aggregate purchase price for these acquisitions was composed of approximately $50.2 million in cash, net of cash acquired and earn-out liabilities valued at approximately $3.9 million. Determination of the estimated fair values of net assets acquired and the estimated earn-out liabilities and consideration transferred for these acquisitions was preliminary as o f September 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. 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. Determination of the estimated fair values of the net assets acquired and the estimated earn-out liabilities and consideration transferred for certain of the Company’s fourth quarter 2021 acquisitions was preliminary as of September 30, 2022; as a result, further adjustments to such estimates may occur. The following table summarizes the estimated fair values of consideration paid and net assets acquired for the 2021 acquisitions, as adjusted, as of September 30, 2022 (in millions): Acquisition consideration (a) : HMG All other Total Cash, net of cash acquired $ 402.4 $ 866.6 $ 1,269.0 Shares transferred 181.7 — 181.7 Estimated fair value of contingent consideration — 102.9 102.9 Total consideration $ 584.1 $ 969.5 $ 1,553.6 Identifiable assets acquired and liabilities assumed: Accounts receivable and contract assets $ 409.5 $ 271.1 $ 680.6 Current assets 14.6 26.8 41.4 Property and equipment 252.1 250.6 502.7 Long-term assets, primarily operating lease right-of-use assets 84.9 81.9 166.8 Amortizing intangible assets 164.4 444.2 608.6 Accounts payable (108.0) (49.3) (157.3) Current liabilities, including current portion of operating lease liabilities (154.3) (137.1) (291.4) Long-term debt, including finance lease obligations (0.2) (4.4) (4.6) Long-term liabilities, primarily operating lease liabilities and deferred income taxes (150.3) (76.6) (226.9) Total identifiable net assets $ 512.7 $ 807.2 $ 1,319.9 Goodwill 71.4 165.9 237.3 Total net assets acquired, including goodwill $ 584.1 $ 973.1 $ 1,557.2 Bargain purchase gain — (3.6) (3.6) Total consideration $ 584.1 $ 969.5 $ 1,553.6 (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 $281 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 $155 million of the goodwill balance related to the 2021 acquisitions is expected to be tax deductible as of September 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 nine month period ended September 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 and is reflected within financing activities in the consolidated statement of cash flows, and 133,157 shares of MasTec common stock. For the nine month period ended September 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 purchase consideration for the HMG acquisition of approximately $15 million , which reduction is reflected in the table above. This working capital adjustment had no impact on the number of shares issued in connection with the acquisition. As of September 30, 2022, the estimated fair value of remaining Additional Payments was approximately $31 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 the three and nine month periods ended September 30, 2022, unrealized fair value measurement activity related to the contingent shares totaled gains of approximately $1.3 million and $4.5 million, respectively, which amounts are reflected within other income, net. The estimated number of shares that would be paid in connection with the remaining Additional Payment liability is approximately 160,000 shares as of September 30, 2022. The amount of Additional Payments due to the sellers as of September 30, 2022 from collections of acquired receivables totaled approximately $3.9 million, of which the amount due in shares totaled approximately $1.6 million, or 17,500 shares. See Note 2 – E arnings 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 September 30, 2022, the range of remaining potential undiscounted earn-out liabilities for the 2021 acquisitions was estimated to be between $9 million and $120 million; however, there is no maximum payment amount. Pro forma results. For the three month periods ended September 30, 2022 and 2021, unaudited supplemental pro forma revenue totaled approximately $2.5 billion and $3.0 billion, respectively, and unaudited supplemental pro forma net income totaled approximately $54.0 million and $145.4 million, respectively. For the nine month periods ended September 30, 2022 and 2021, unaudited supplemental pro forma revenue totaled approximately $6.8 billion and $7.9 billion, respectively. For the nine month periods ended September 30, 2022 and 2021, unaudited supplemental pro form a net income totaled approximately $37.3 million and $271.0 million, respectively. Acquisition-related results . The Company’s consolidated results of operations included acquisition-related revenue of approximately $569.7 million f or the three month period ended September 30, 2022, including approximately $429.3 million for HMG, and totaled $1,876.6 million for the nine month period ended September 30, 2022, including approximately $1,457.7 million for HMG and INTREN in the aggregate. For the three and nine month periods ended September 30, 2022, the Company’s consolidated results of operations included acquisition-related net income of approximately $18.4 million and $37.7 million, respectively, based on the Company’s consolidated effective tax rates. The Company’s consolidated results of operations included acquisition-related revenue of approximatel y $344.4 million and $702.7 million for the three and nine month periods ended September 30, 2021, respectiv ely, including $172.8 million and $275.4 million for INTREN for the respective periods. For the three and nine month periods ended September 30, 2021, the Company’s consolidated results of operations included acquisition-related net losses of approximately $6.6 million and $1.3 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 has incurred certain acquisition and integration costs in connection with certain 2021 and 2022 acquisitions, including acquisition-related costs for the recently completed acquisition of IEA, which costs are included within general and administrative expenses, costs of revenue, excluding depreciation and amortization, and other expense. 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 operating cost redundancies, facility consolidation expenses, lease termination expenses, system migration expenses, training and other integration costs, as well as ii) legal, professional and other fees associated with the consummation of these acquisitions, including fees paid in connection with certain transaction-related financing commitments, including bridge financing related to the IEA acquisition. The Company is currently in the process of integrating these acquisitions and expects to incur additional acquisition and integration expenses. Acquisition and integration costs for the three and nine months period ended September 30, 2022 totaled approximately $33.3 million and $59.4 million, respectively, of which $9.2 million and $35.3 million, respectively, was included within general and administrative expenses, and $21.4 million and $2.7 million were included within costs of revenue, excluding depreciation and amortization, and other expense, respectively, for both periods. As of September 30, 2022, approximately $5.6 million was included within current liabilities within the consolidated balance sheets related to such costs. Q4 2022 Acquisition IEA Acquisition. On October 7, 2022 (the “Closing Date”), MasTec completed the acquisition of IEA, a leading clean energy and infrastructure services provider with expertise in renewable energy and heavy civil projects, as well as rail and environmental remediation services. The Company expects to include IEA within its Clean Energy and Infrastructure segment. MasTec acquired IEA for an estimated $610 million in cash and approximately 2.8 million shares of MasTec common stock. The 2.8 million shares include an estimated 128,000 shares to be issued upon the exercise of certain IEA warrants, which warrants remained outstanding following the acquisition. If and when the outstanding warrants are exercised, they will be settled with a combination of such shares of the Company’s common stock and cash. The fair value of the 2.7 million shares issued on the Closing Date, based on the market price of MasTec common stock on such date, was approximately $173 million. The $610 million in cash includes an estimate of $2 million related to the exercise of these warrants. The cash portion of the IEA acquisition was funded with borrowings under a new term loan facility. Additionally, the Company also assumed $300 million of IEA’s 6.625% senior unsecured notes in connection with the acquisition of IEA. See Note 7 - Debt for additional information regarding the new term loan facility, debt assumed and a discussion of the related debt exchange transaction. Due to the limited amount of time since this acquisition, the initial purchase accounting is incomplete; therefore, the Company will complete its initial allocation of purchase price to total net assets acquired for the IEA acquisition in the fourth quarter of 2022. Approximately $11 million of acquisition costs associated with the IEA acquisition has been incurred to date, of which $6 million was incurred in the third quarter of 2022.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 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 September 30, 2022 and December 31, 2021, the estimated fair value of the Company’s Earn-out liabilities totaled $126.6 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 $29.0 million and $38.8 million as of September 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 September 30, 2022, ranged from 12.0% to 16.3%, with a weighted average rate of 12.1% based on the relative fair value of the respective Earn-out liabilities, 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 September 30, 2022, the range of potential undiscounted Earn-out liabilities was estimated to be between $11 million and $165 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. Additions from new business combinations for the three and nine month periods ended September 30, 2022 totaled approximately $2.1 million and $3.8 million, respectively. There were no additions from new business combinations for the three month period ended September 30, 2021, and for the nine month period ended September 30, 2021, additions totaled $40.1 million. There were no measurement period adjustments for the three month period ended September 30, 2022 , and for the nine month period ended September 30, 2022, measurement period adjustments totaled an increase, net, of approximately $1.5 million a nd 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 nine month periods ended September 30, 2021. For the three and nine month periods ended September 30, 2022, fair value adjustments totaled an increase of a pproximately $0.1 million and a net decrease of approximately $1.2 million, respectively, and related primarily to the Company’s Communications segment. Fair value adjustments for the three and nine month periods ended September 30, 2021 totaled net decreases of $4.8 million and $14.1 million, respectively, including a $1.0 million decrease related to mandatorily redeemable non-controlling interests for both the three and nine month periods ended September 30, 2021. These fair value adjustments 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 $11.0 million and $37.8 million for the three and nine month periods ended September 30, 2022, respectively. For the three and nine month periods ended September 30, 2021, Earn-out payments totaled $0.8 million and $47.0 million, respectively, including approximately $2.1 million related to mandatorily redeemable non-controlling interests for the nine month period ended September 30, 2021. Equity Investments The Company’s equity investments as of September 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 September 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 September 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 $300 million and $267 million, respectively. As of both September 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 nine month periods ended September 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 $5.8 million and $20.8 million for the three and nine month periods ended September 30, 2022, respectively, and totaled $8.3 million and $24.6 million for the three and nine month periods ended September 30, 2021, respectively. Distributions of earnings from the Waha JVs, which are included within operating cash flows, totaled $4.4 million and $12.1 million for the three and nine month periods ended September 30, 2022, respectively, and totaled $4.4 million for both the three and nine month periods ended September 30, 2021. Cumulative undistributed earnings from the Waha JVs, which represents cumulative equity in earnings for the Waha JVs less distributions of earnings, totaled $103.6 million as of September 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 $257 million and $216 million as of September 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 nine month periods ended September 30, 2022, the Company’s proportionate share of unrecognized unrealized activity on the Waha JV swaps totaled gains of approximately $13.4 million and $42.0 million, respectively, or $10.1 million and $31.7 million, net of tax, respectively. For the three and nine month periods ended September 30, 2021, the Company’s proportionate share of unrecognized unrealized activity on the Waha JV swaps totaled gains of approximately $1.8 million and $14.1 million, respectively, or $1.3 million and $10.7 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 September 30, 2022 and December 31, 2021, the Company had an aggregate investment of approximately $21 million and $20 million, respectively, in these entities, including $18 million and $17 million for FM Tech, respectively, as of September 30, 2022 and December 31, 2021. For the three month period ended September 30, 2022 the Company made no equity contributions related to its investments in telecommunications entities, and for the nine month period ended September 30, 2022, equity contributions related to these entities totaled approximately $1.1 million. For the three month period ended September 30, 2021, the Company made no equity contributions related to its investments in these entities, and for the nine month period ended September 30, 2021, equity contributions totaled approximately $2.0 million. For the three month period ended September 30, 2022, equity in earnings, net, related to the Company’s proportionate share of income from these telecommunications entities totaled approximately $0.4 million, and for the nine month period ended September 30, 2022 equity in losses, net totaled approximately $0.5 million. For the three month period ended September 30, 2021, equity in earnings, net, from these telecommunications entities totaled approximately $0.6 million, and for the nine month period ended September 30, 2021, equity in losses was de minimis. 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 approximately $2.6 million and $5.1 million for the three and nine month periods ended September 30, 2022, respectively, and totaled $3.2 million and $7.3 million for the three and nine month periods ended September 30, 2021, respectively. As of September 30, 2022 and December 31, 2021, related amounts payable to these entities totaled approximately $0.4 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 both the three and nine month periods ended September 30, 2022, advances to these entities totaled approximately $2.0 million. Employee lease expenses and advances to these entities for the three month period ended September 30, 2021 were de minimis, and for the nine month period ended September 30, 2021, amounts advanced totaled $0.2 million. As of September 30, 2022 and December 31, 2021, employee lease and advances receivable totaled approximately $2.5 million and $0.9 million, respectively. The Company has 49% equity interests in certain entities included within its Communications and Power Delivery segments that are accounted for as equity method investments, for which its aggregate investment as of September 30, 2022 and December 31, 2021 totaled approximately $3 million and $4 million, respectively. For the three and nine month periods ended September 30, 2022, equity in losses, related to these entities totaled approximately $0.1 million and $0.4 million, respectively. Certain of these entities provide construction services to MasTec. Expense recognized in connection with construction services provided by these entities totaled approximately $0.8 million and $5.8 million for the three and nine month periods ended September 30, 2022, respectively. As of September 30, 2022, related amounts payable totaled approximately $0.1 million. In addition, the Company has line of credit arrangements with these entities, which, as of September 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 September 30, 2022, a total of $1.9 million had been funded, of which $0.2 million was funded during the nine month period ended September 30, 2022. For the three and nine month periods ended September 30, 2021, $0.3 million and $1.3 million, respectively, of funding was provided. Equity in losses related to the Company’s proportionate share of this investment was de minimis for the three month period ended September 30, 2022, and totaled $0.3 million for the nine month period ended September 30, 2022. For the three and nine month periods ended September 30, 2021, equity in losses totaled $0.2 million and $0.6 million, respectively. As of September 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 September 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 September 30, 2022 and December 31, 2021, the Company’s ownership interest in AVCT’s common stock totaled approximately 1% and 3% , respectively, and its aggregate ownership interest, assuming the exercise of all legally exercisable warrants into AVCT common stock, totaled approximately 1% and 6%, respectively. As of September 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 $0.1 million and $7.2 million, respectively, for the three and nine month periods ended September 30, 2022. For both the three and nine month periods ended September 30, 2021, unrealized fair value measurement losses, net, totaled approximately $7.6 million, primarily related to the AVCT shares. In the third quarter of 2021, in conjunction with the automatic conversion of the AVCT convertible debentures into shares of AVCT common stock, the Company reclassified a gain of $0.7 million from other comprehensive income to other income, net. For the three and nine month periods ended September 30, 2021, unrealized fair value measurement activity related to the AVCT convertible debentures, which were recognized within other comprehensive income, totaled losses of approximately $2.4 million and $1.1 million, respectively, or $1.8 million and $0.8 million, net of tax, respectively. Senior Notes

Accounts Receivable, Net of All

Accounts Receivable, Net of Allowance, and Contract Assets and Liabilities	9 Months Ended
	Sep. 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): September 30, December 31, Contract billings $ 1,065.6 $ 1,027.1 Less allowance (8.1) (7.8) Accounts receivable, net of allowance $ 1,057.5 $ 1,019.3 Retainage 277.1 296.8 Unbilled receivables 1,340.3 931.1 Contract assets $ 1,617.4 $ 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 September 30, 2022 was driven primarily by ordinary course project activity associated with higher levels of revenue in our Power Delivery and Communications segments. For the nine month period ended September 30, 2022, provisions for credit losses totaled $0.7 million, and for the nine month period ended September 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 $249.7 million and $314.0 million as of September 30, 2022 and December 31, 2021, respectively, of which deferred revenue comprised approximately $240.8 million and $296.1 million, respectively. The decrease in contract liabilities as of September 30, 2022 was driven primarily by timing of billings for projects in our Clean Energy and Infrastructure, Power Delivery and Communications segments. For the three and nine month periods ended September 30, 2022, the Company recognized revenue of approximately $22.2 million and $268.0 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 $2.4 million and $0.8 million for the three month periods ended September 30, 2022 and 2021, respectively, and

Property and Equipment, Net

Property and Equipment, Net	9 Months Ended
	Sep. 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): September 30, December 31, Land $ 55.8 $ 40.0 Buildings and leasehold improvements 86.1 94.1 Machinery and equipment 2,677.9 2,411.0 Office furniture and equipment 281.4 262.6 Construction in progress 79.9 32.7 Total property and equipment $ 3,181.1 $ 2,840.4 Less accumulated depreciation and amortization (1,593.0) (1,404.3) Property and equipment, net $ 1,588.1 $ 1,436.1 The gross amount of capitalized internal-use software, which is included within office furniture and equipment, totaled $183.6 million and $176.4 million as of September 30, 2022 and December 31, 2021, respectively. Capitalized internal-use software, net of accumulated amortization, totaled $40.4 million and $43.9 million as of September 30, 2022 and December 31, 2021, respectively.

Debt

Debt	9 Months Ended
	Sep. 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 September 30, December 31, Senior credit facility: November 1, 2026 Revolving loans $ 920.5 $ 772.3 Term loan 350.0 350.0 4.50% Senior Notes August 15, 2028 600.0 600.0 Finance lease and other obligations 370.3 310.3 Total debt obligations $ 2,240.8 $ 2,032.6 Less unamortized deferred financing costs (16.5) (18.5) Total debt, net of deferred financing costs $ 2,224.3 $ 2,014.1 Current portion of long-term debt 156.8 137.9 Long-term debt $ 2,067.5 $ 1,876.2 Senior Credit Facility The Company has a senior unsecured credit facility (the “Credit Facility”), which was amended on September 1, 2022. The amendment, among other changes, increased the Company’s aggregate borrowing commitments under the Credit Facility from approximately $2.0 billion to $2.25 billion, which amount is composed of $1.9 billion of revolving commitments, an increase of $250 million from the previous Credit Facility, and a term loan with an original principal amount of $350 million (the “Term Loan”). The amendment also released the guarantees that existed under the previous Credit Facility and removed the requirement that certain subsidiaries of the Company guarantee the obligations thereunder. The other terms and conditions of the Credit Facility remain substantially the same. Additionally, the amendment eliminated the use of London Interbank Offered Rate (“LIBOR”) as a basis to determine certain interest rates and transitioned to the Secured Overnight Financing Rate (“SOFR”) for such purposes. Obligations under the Credit Facility are not secured. Borrowings under the amended Credit Facility will be used for working capital requirements, capital expenditures and other corporate purposes, including acquisitions, equity investments or other strategic arrangements, and/or the repurchase or prepayment of indebtedness, among other corporate borrowing requirements. Outstanding revolving loans and the Term Loan under the amended Credit Facility bear interest, at the Company’s option, at a rate equal to either (a) Term SOFR, as defined in the amended Credit Facility, plus a margin of 1.125% to 1.625%, or (b) a Base Rate, as defined in the amended Credit Facility, plus a margin of 0.125% to 0.625%. The Base Rate equals the highest of (i) the Federal Funds Rate, as defined in the amended Credit Facility, plus 0.50%, (ii) Bank of America’s prime rate, and (iii) Term SOFR plus 1.00%. 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 $4.4 million in March 2025 until maturity. Quarterly principal installments on the Term Loan are subject to adjustment, if applicable, for certain prepayments. As of September 30, 2022 and December 31, 2021, outstanding revolving loans, which inc luded $0.5 million and $32.3 million, respectively, of borrowings denominated in foreign currencies, accrued interest at weighted average rates of approximately 4.30% and 2.32% per annum, respectively. The Term Loan accrued interest at rates of 4.51% and 1.35% as of September 30, 2022 and December 31, 2021, respectively. Letters of credit of approximately $145.0 million and $166.3 million were issued as of September 30, 2022 and December 31, 2021, respectively. As of September 30, 2022 and December 31, 2021, letter of credit fees accrued at 0.5625% and 0.4375%, respectively, per annum for performance standby letters of credit, and accrued at 1.375% and 1.250%, respectively, 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 September 30, 2022 and December 31, 2021, availability for revolving loans totaled $834.5 million and $711.5 million, respectively, or up to $505.0 million and $483.7 million, respectively, for new letters of credit. Revolving loan borrowing capacity included $149.5 million and $267.7 million of availability in either Canadian dollars or Mexican pesos as of September 30, 2022 and December 31, 2021, respectively. The unused facility fee as of September 30, 2022 and December 31, 2021 accrued at a rate of 0.200% and 0.175%, respectively, per annum. 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 September 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 September 30, 2022 and December 31, 2021, letters of credit issued under this facility totaled $17.4 million and $22.2 million, respectively, which accrued fees at 0.75% and 0.40% per annum, respectively. The Company’s other credit facilities are subject to customary provisions and covenants. 4.50% Senior Notes The Company has $600.0 million aggregate principal amount of 4.50% senior unsecured notes due August 15, 2028 (the “4.50% Senior Notes”). Pursuant to the terms of the indenture governing the Company’s 4.50% Senior Notes, the existing guarantees on the 4.50% Senior Notes were released substantially concurrent with th e September 1, 2022 amendment to the Credit Facility, which, as discussed above, released the guarantors under the previous Credit Facility. Prior to the amendment, the 4.50% Senior Notes were fully and unconditionally guaranteed on a senior unsecured, joint and several basis by certain of the Company’s wholly-owned domestic restricted subsidiaries. Additionally, the indenture that governs the Company’s 4.50% Senior Notes contains a provision whereby certain restrictions that generally limit the ability of the Company and certain of its subsidiaries to (i) pay dividends, (ii) acquire shares of capital stock and (iii) make certain investments, are permanently terminated upon the Company’s 4.50% Senior Notes receiving “investment grade” ratings by Moody’s Investors Service, Inc. and Standard & Poor’s Ratings Group. In the first quarter of 2022, the Company’s 4.50% Senior Notes received such investment grade ratings, and, as a result, the aforementioned restrictions were permanently terminated. The other terms and conditions of the 4.50% Senior Notes remain unchanged. Additional Information MasTec was in compliance with the provisions and covenants of its outstanding debt instruments as of both September 30, 2022 and December 31, 2021. As of September 30, 2022 and December 31, 2021, accrued interest payable, which is recorded within other accrued expenses in the consolidated balance sheets, totaled $7.0 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. IEA Acquisition Financing and Acquired Debt New Term Loan Facility. The IEA acquisition, which was completed in October 2022, was funded with the New Term Loan Facility (as defined below). On September 1, 2022, the Company entered into a new unsecured delayed draw term loan agreement (the “New Term Loan Facility”), which provided for $700.0 million in delayed draw term loan commitments (the “Term Loan Commitments”), composed of $400.0 million in principal amount of three Three e IEA acquisition. The Company incurred approximately $2.0 million of debt issuance costs in connection with the New Term Loan Facility as of November 1, 2022, which costs will be amortized over the respective terms of the Three - and Five -Year Tranches. The Three Three Outstanding loans under the Three The obligations under the New Term Loan Facility are not guaranteed and are not secured by any assets of the Company or any of its subsidiaries. The New Term Loan Facility requires the Company to maintain a Consolidated Leverage Ratio, as defined in the New Term Loan Facility, of not more than 3.50 as of the end of any fiscal quarter (subject to the Acquisition Adjustment described below). The New Term Loan Facility also requires the Company to maintain a Consolidated Interest Coverage Ratio, as defined in the Amended Credit Facility, of at least 3.00. The New Term Loan Facility provides that, for purposes of calculating the Consolidated Leverage Ratio, funded indebtedness excludes undrawn standby performance letters of credit included in the calculation of Consolidated Funded Indebtedness (as defined in the New Term Loan Facility). Additionally, notwithstanding the terms discussed above, subject to certain conditions, if a permitted acquisition or series of permitted acquisitions having consideration exceeding $100 million occurs during a fiscal quarter, the Consolidated Leverage Ratio may be temporarily increased to up to 4.00 during such fiscal quarter and the subsequent four fiscal quarters (the “Acquisition Adjustment”). Such right may be exercised no more than two times during the term of the New Term Loan Facility. Subject to customary exceptions, the New Term Loan Facility limits the borrowers’ ability to engage in certain activities, including but not limited to acquisitions, mergers and consolidations, debt incurrence, investments, asset sales, debt prepayments, lien incurrence and the making of distributions on or repurchases of capital stock. However, distributions payable solely in capital stock are permitted. The New Term Loan Facility provides for customary events of default and carries cross-default provisions with the Company’s other significant debt instruments, including the Company’s indemnity agreement with its surety provider, as well as customary remedies, including the acceleration of repayment of outstanding amounts. Bridge Term Loan Facility. The Company incurred approximately $2.7 million of fees and expenses in the third quarter of 2022 in connection with commitments for a bridge term loan facility, which commitments were subsequently terminated in connection with the New Term Loan Facility, which costs are reflected as acquisition and integration costs within other expense. IEA 6.625% Senior Notes. Upon consummation of the October 2022 acquisition of IEA, the Company assumed $300 million of 6.625% senior unsecured notes that mature on August 15, 2029 (the “6.625% IEA Senior Notes”) and that were issued by IEA Energy Services LLC (the “IEA Issuer”), a wholly-owned subsidiary of IEA, in a private placement pursuant to an indenture, dated as of August 17, 2021 (the “IEA Senior Notes Indenture”), by and among the IEA Issuer, the IEA Guarantors (as defined therein) and Wilmington Trust, National Association, as trustee. Prior to the acquisition of IEA by MasTec, the 6.625% IEA Senior Notes were guaranteed by the IEA Guarantors. Effective October 7, 2022, concurrent with the acquisition of IEA and the repayment in full and termination of IEA’s credit facility, which resulted in the release of such guarantors under the prior credit facility, the IEA Guarantors of the 6.625% IEA Senior Notes were automatically and unconditionally released and discharged from their obligations under the IEA Senior Notes Indenture. The 6.625% IEA Senior Notes will be structurally subordinated to all indebtedness and other liabilities, including trade payables, of the Company’s subsidiaries and will be effectively subordinated to any secured indebtedness of the IEA Issuer, to the extent of the value of the collateral securing such indebtedness. Interest on the 6.625% IEA Senior Notes is payable semiannually in arrears on February 15 and August 15 of each year. On October 26, 2022, approximately $74.9 million in principal amount of the 6.625% IEA Senior Notes were exchanged for the same principal amount of MasTec’s 6.625% senior unsecured notes that mature on August 15, 2029 (the “6.625% MasTec Senior Notes”) in a private exchange offer and consent solicitation to certain holders of 6.625% IEA Senior Notes. See discussion of exchange offer and 6.625% MasTec Senior Notes below. At any time prior to August 15, 2024, the IEA Issuer may redeem some or all of the 6.625% IEA Senior Notes at a price equal to 100% of the principal amount of the 6.625% IEA Senior Notes, plus a “make-whole premium,” together with accrued and unpaid interest, if any, to, but not including, the date of redemption. In addition, at any time prior to August 15, 2024, the IEA Issuer may redeem up to 40% of the original principal amount of the 6.625% IEA Senior Notes with the proceeds of certain equity offerings at a redemption price of 106.625% of the principal amount of the 6.625% IEA Senior Notes, together with accrued and unpaid interest, if any, to, but not including, the date of redemption, subject to the right of holders of notes on the relevant record date to receive interest due on the relevant interest payment date. On or after August 15, 2024, the 6.625% IEA Senior Notes are subject to redemption at any time and from time to time at the option of the IEA Issuer, in whole or in part, at specified redemption prices, expressed as percentages of principal amount, of 103.3% declining over a two-year period to 100.0%, subject to the right of holders of notes on the relevant record date to receive interest due on the relevant interest payment date. The terms of the 6.625% IEA Senior Notes Indenture, among other things, limit the IEA Issuer’s ability to incur additional indebtedness; pay dividends or make other restricted payments; make loans and investments; incur liens; sell assets; enter into affiliate transactions; enter into certain sale and leaseback transactions; enter into agreements restricting the IEA Issuer’s subsidiaries’ ability to pay dividends; and merge, consolidate or amalgamate or sell all or substantially all of its property, subject to certain thresholds and exceptions. Certain of such limitations are suspended for so long as the 6.625% IEA Senior Notes are rated “investment grade” by at least two nationally recognized statistical rating agencies, subject to certain conditions. In October 2022, following the acquisition of IEA by MasTec, the 6.625% IEA Senior Notes were rated as investment grade by at least two nationally recognized ratings agencies and, as a result, the aforementioned covenants were suspended. The 6.625% IEA Senior Notes Indenture provides for customary events of default which include, subject in certain cases to customary grace and cure periods, among others, nonpayment of principal or interest; breach of other covenants or agreements in the 6.625% IEA Senior Notes Indenture; failure to pay certain other indebtedness; failure to pay certain final judgments; failure of certain guarantees to be enforceable; and certain events of bankruptcy or insolvency. Exchange Offer and 6.625% MasTec Senior Notes. In August 2022, in connection with the Company’s previously announced agreement to acquire IEA, MasTec commenced a private exchange offer and consent solicitation to certain holders of the 6.625% IEA Senior Notes for up to an aggregate principal amount of $300.0 million of 6.625% MasTec Senior Notes, conditioned upon completion of the IEA acquisition. On October 26, 2022, approximately $74.9 million in principal amount of 6.625% IEA Senior Notes were exchanged for the same principal amount of 6.625% MasTec Senior Notes. The 6.625% MasTec Senior Notes are senior unsecured notes that mature on August 15, 2029. Interest on the 6.625% MasTec Senior Notes is payable semiannually on February 15 and August 15 of each year, commencing on February 15, 2023. The 6.625% MasTec Senior Notes will accrue interest from and including August 15, 2022, such that a tendering holder will receive the same interest payment it would have received had its 6.625% IEA Senior Notes not been tendered in the exchange offer. In connection with the consent solicitation, the Company paid a consent payment to holders of the 6.625% IEA Senior Notes that consented to the changes to the IEA Senior Notes Indenture proposed in such consent solicitation in the amount of $2.50 in cash for each $1,000 principal amount tendered. The 6.625% MasTec Senior Notes are general senior unsecured obligations of the Company, and rank equal in right of payment with all of the Company’s existing and future senior unsecured indebtedness and senior in right of payment to any of the Company’s future subordinated indebtedness. The 6.625% MasTec Senior Notes are effectively subordinated to all secured indebtedness of the Company to the extent of the value of the assets securing such indebtedness and are structurally subordinated to all obligations of the subsidiaries of the Company, including trade payables and the 6.625% IEA Senior Notes. On or after August 15, 2024, the Company has the option, at any time and from time to time, to redeem all or a portion of the 6.625% MasTec Senior Notes at the redemption prices specified in the indenture that governs the 6.625% MasTec Senior Notes (the “6.625% MasTec Senior Notes Indenture”), plus accrued and unpaid interest, if any, to, but not including, the redemption date, subject to the right of holders of notes on the relevant record date to receive interest due on the relevant interest payment date. In addition, at any time prior to August 15, 2024, the Company may redeem all or a part of the 6.625% MasTec Senior Notes at a redemption price equal to 100% of the principal amount of the 6.625% MasTec Senior Notes redeemed, plus accrued and unpaid interest, if any, to, but not including, the redemption date, subject to the right of holders of notes on the relevant record date to receive interest due on the relevant interest payment date, plus a “make-whole” premium. Further, prior to August 15, 2024, the Company may redeem up to 40% of the aggregate principal amount of the 6.625% MasTec Senior Notes using the net cash proceeds of certain equity offerings, at a redemption price equal to 106.625% of the principal amount of the 6.625% MasTec Senior Notes redeemed, plus accrued and unpaid interest, if any, to, but not including the date of redemption, subject to the right of holders of notes on the relevant record date to receive interest due on the relevant interest payment date, subject to certain conditions. If the Company undergoes a Change of Control, as defined in the 6.625% MasTec Senior Notes Indenture, the Company must make an offer to repurchase all of the 6.625% MasTec Senior Notes then outstanding at a price equal to 101% of their principal amount, plus accrued and unpaid interest, if any, to, but not including, the date of repurchase. The 6.625% MasTec Senior Notes Indenture, among other things, generally limits the ability of the Company and certain of its subsidiaries, subject to certain exceptions, to (i) create certain liens and (ii) effect mergers, consolidate or transfer all or substantially all of the Company’s assets, subject to certain thresholds and exceptions. The 6.625% MasTec Senior Notes Indenture provides for customary events of default, which include, subject, in certain cases, to customary grace and cure periods, among others, nonpayment of principal or interest; breach of other covenants or agreements in the 6.625% MasTec Senior Notes Indenture; failure to pay certain other indebtedness; and certain events of bankruptcy or insolvency. Generally, if an event of default occurs and is continuing, the trustee or holders of at least 30% of the 6.625% MasTec Senior Notes then outstanding may declare the principal of, premium, if any, and accrued interest on all of the 6.625% MasTec Senior Notes immediately due and payable. The Company incurred a pproximately $2 million of fees and expenses in connection with the debt exchange, which amount

Lease Obligations

Lease Obligations	9 Months Ended
	Sep. 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 September 30, 2022, the Company’s leases have remaining lease terms of up to ten 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 September 30, 2022 and December 31, 2021 totaled $624.6 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 September 30, 2022 and 2021 totaled $12.7 million and $3.9 million, respectively, and for the nine month periods ended September 30, 2022 and 2021, totaled $58.1 million and $89.2 million, respectively. Acquisition-related lease additions totaled $74.6 million for the nine month period ended September 30, 2021. For the three month periods ended September 30, 2022 and 2021, rent expense for leases that have terms in excess of one year totaled approximately $30.6 million and $26.1 million, respectively, of which $2.3 million and $2.4 million, respectively, represented variable lease costs. For the nine month periods ended September 30, 2022 and 2021, rent expense for such leases totaled approximately $98.5 million and $81.6 million, respectively, of which $7.8 million and $7.5 million, respectively, represented variable lease costs. The Company also incurred rent expense for leases with terms of one year or less totaling approximately $98.8 million and $158.3 million for the three month periods ended September 30, 2022 and 2021, respectively, and totaling approximately $258.1 million and $399.2 million for the nine month periods ended September 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 September 30, 2022 were as follows (in millions): Finance Leases Operating 2022, remaining three months $ 43.8 $ 22.9 2023 141.6 83.2 2024 97.1 65.8 2025 63.9 42.6 2026 16.9 27.0 Thereafter 0.6 28.0 Total minimum lease payments $ 363.9 $ 269.5 Less amounts representing interest (18.5) (15.9) Total lease obligations, net of interest $ 345.4 $ 253.6 Less current portion 146.2 85.1 Long-term portion of lease obligations, net of interest $ 199.2 $ 168.5
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 September 30, 2022, the Company’s leases have remaining lease terms of up to ten 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 September 30, 2022 and December 31, 2021 totaled $624.6 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 September 30, 2022 and 2021 totaled $12.7 million and $3.9 million, respectively, and for the nine month periods ended September 30, 2022 and 2021, totaled $58.1 million and $89.2 million, respectively. Acquisition-related lease additions totaled $74.6 million for the nine month period ended September 30, 2021. For the three month periods ended September 30, 2022 and 2021, rent expense for leases that have terms in excess of one year totaled approximately $30.6 million and $26.1 million, respectively, of which $2.3 million and $2.4 million, respectively, represented variable lease costs. For the nine month periods ended September 30, 2022 and 2021, rent expense for such leases totaled approximately $98.5 million and $81.6 million, respectively, of which $7.8 million and $7.5 million, respectively, represented variable lease costs. The Company also incurred rent expense for leases with terms of one year or less totaling approximately $98.8 million and $158.3 million for the three month periods ended September 30, 2022 and 2021, respectively, and totaling approximately $258.1 million and $399.2 million for the nine month periods ended September 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 September 30, 2022 were as follows (in millions): Finance Leases Operating 2022, remaining three months $ 43.8 $ 22.9 2023 141.6 83.2 2024 97.1 65.8 2025 63.9 42.6 2026 16.9 27.0 Thereafter 0.6 28.0 Total minimum lease payments $ 363.9 $ 269.5 Less amounts representing interest (18.5) (15.9) Total lease obligations, net of interest $ 345.4 $ 253.6 Less current portion 146.2 85.1 Long-term portion of lease obligations, net of interest $ 199.2 $ 168.5

Stock-Based Compensation and Ot

Stock-Based Compensation and Other Employee Benefit Plans	9 Months Ended
	Sep. 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 September 30, 2022, there were approximately 3,428,000 shares available for future grant. Non-cash stock-based compensation expense under all plans totaled $5.7 million and $6.1 million for the three month periods ended September 30, 2022 and 2021, respectively, and totaled $18.9 million and $17.7 million for the nine month periods ended September 30, 2022 and 2021, respectively. Income tax benefits associated with stock-based compensation arrangements totaled $0.9 million and $1.2 million for the three month periods ended September 30, 2022 and 2021, respectively. For the nine month periods ended September 30, 2022 and 2021, such income tax benefits totaled $4.3 million and $3.4 million, respectively, including tax benefits related to the vesting of share-based payment awards totaling $0.9 million and $0.2 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 September 30, 2022, total unearned compensation related to restricted shares was approximately $38.9 million, which amount is expected to be recognized over a weighted average period of approximately 1.9 years. The fair value of restricted shares that vested, which is based on the market price on the date of vesting, totaled $0.3 million for both the three month periods ended September 30, 2022 and 2021, and totaled $19.5 million and $11.6 million for the nine month periods ended September 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 221,525 84.36 Vested (232,408) 47.81 Canceled/forfeited (75,225) 43.84 Non-vested restricted shares, as of September 30, 2022 1,662,577 $ 48.57 (a) Includes 2,150 and 1,300 restricted stock units as of September 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 either newly issued common shares, or common shares reacquired on the open market or in privately negotiated transactions. For the three month periods ended September 30, 2022 and 2021, 25,495 shares and 21,636 shares, respectively, were purchased by participants under the Company’s ESPPs for $1.7 million and $1.8 million, respectively, and for the nine month periods ended September 30, 2022 and 2021, 82,121 shares and 60,669 shares, respectively, were purchased for $5.3 million and $5.0 million, respectively. All shares purchased by participants under the Company’s ESPPs for the three and nine month periods ended September 30, 2022 and 2021 were reacquired by the Company on the open market. Compensation expense associated with the Company’s ESPPs totaled approximate ly $0.3 million f or both the three month periods ended September 30, 2022 and 2021, and totaled approximately $1.0 million and $0.9 million for the nine month periods ended September 30, 2022 and 2021, respectively.

Other Retirement Plans

Other Retirement Plans	9 Months Ended
	Sep. 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 are 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 September 30: 2022 6,774 7,136 $ 23.0 $ 14.5 $ 37.5 2021 5,116 6,979 $ 36.9 $ 11.7 $ 48.6 For the Nine Months Ended September 30: 2022 6,601 7,136 $ 62.3 $ 41.6 $ 103.9 2021 2,412 6,979 $ 81.1 $ 21.9 $ 103.0 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 nine month periods ended September 30, 2022, multiemployer plan activity was driven primarily by acquisition-related project work within the Company’s Power Delivery operations, and, to a lesser extent, its Oil and Gas operations, whereas for the three and nine month periods ended September 30, 2021, activity was driven primarily by project work within the Company’s Oil and Gas operations, and to a lesser extent, its Power Delivery operations.

Equity

Equity	9 Months Ended
	Sep. 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. There were no share repurchases under the Company’s share repurchase programs for the three month period ended September 30, 2022, and for the nine month period ended September 30, 2022, the Company repurchased 1.1 million shares of its common stock for an aggregate purchase price of approximately $81.3 million. 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 nine month periods ended September 30, 2021. As of September 30, 2022, $77.3 million was available for future share repurchases under the Company’s March 2020 share repurchase program. 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, Net, for additional infor mation. Accumulated Other Comprehensive Loss Unrealized foreign currency translation activity, net, for the three and nine month periods ended September 30, 2022 and 2021 relates to the Company’s operations in Canada and Mexico. Unrealized investment activity, for the three and nine month periods ended September 30, 2022 relates to unrealized gains associated with the Waha JV interest rate swaps. For the three and nine month periods ended September 30, 2021, unrealized investment activity, net, includes unrealized gains on the Waha JV swaps and unrealized losses on the AVCT convertible debentures prior to their conversion in the third quarter of 2021. The net unrealized gain on the AVCT convertible debentures was reclassified into other income, net, in the third quarter of 2021 in conjunction with the conversion into shares of AVCT common stock. 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	9 Months Ended
	Sep. 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 September 30, 2022 and 2021, the Company’s consolidated effective tax rates were 18.4% and 19.7%, respectively, and for the nine month periods ended September 30, 2022 and 2021, were a benefit of 0.2% and an expense of 24.8%, respectively. The Company’s effective tax rate for the nine month period ended September 30, 2022 included a benefit related to adjustments resulting from finalization of the Company’s 2021 tax returns, a tax benefit related to the vesting of share-based payment awards, and a benefit from the true-up of certain prior year non-deductible expenses. For the nine month period ended September 30, 2021, the Company’s effective tax rate included a benefit related to adjustments resulting from finalization of the Company’s 2020 tax returns, offset, in part, by the tax effect of certain non-deductible share-based compensation.

Segments and Related Informatio

Segments and Related Information	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Segments and Related Information	Segments and Related Information Segment Discussion The Company manages its operations under five operating segments, which represent its five reportable segments: (1) Communications; (2) Clean Energy and Infrastructure; (3) Oil and Gas; (4) Power Delivery and (5) Other. This structure is generally focused on broad end-user markets for the Company’s labor-based construction services. All five reportable segments derive their revenue from the engineering, installation and maintenance of infrastructure, primarily in North America. In the first quarter of 2022, the Company began integrating the acquisition of 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. The Communications segment performs engineering, construction, maintenance and customer fulfillment activities related to communications infrastructure, primarily for wireless and wireline/fiber communications and install-to-the-home customers, as well as infrastructure for utilities, among others. The Clean Energy and Infrastructure segment primarily serves energy, utility, government and other end-markets through the installation and construction of power generation facilities, primarily from clean energy and renewable sources, such as wind, solar, biomass, natural gas and hydrogen, as well as battery storage for renewable energy and various types of heavy civil and industrial infrastructure. The Company performs engineering, construction and maintenance services for pipelines and processing facilities for the energy and utilities industries through its Oil and Gas segment. The Power Delivery segment primarily serves the energy and utility industries through the engineering, construction and maintenance of power transmission and distribution infrastructure, including electrical and gas transmission lines, distribution network systems and substations. The Other segment includes certain equity investees, the services of which vary from those provided by the Company’s primary segments, as well as other small business units that perform construction and other services for certain international end-markets. Earnings before interest, taxes, depreciation and amortization (“EBITDA”) is the measure of profitability used by management to manage its segments and, accordingly, in its segment reporting. As appropriate, the Company supplements the reporting of its consolidated financial information determined in accordance with U.S. GAAP with certain non-U.S. GAAP financial measures, including EBITDA. The Company believes these non-U.S. GAAP measures provide meaningful information and help investors understand the Company’s financial results and assess its prospects for future performance. The Company uses EBITDA to evaluate its performance, both internally and as compared with its peers, because it excludes certain items that may not be indicative of the Company’s core operating results for its reportable segments, as well as items that can vary widely across different industries or among companies within the same industry. Segment EBITDA is calculated in a manner consistent with consolidated EBITDA. 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 September 30, For the Nine Months Ended September 30, Revenue: 2022 2021 2022 2021 Communications (a) $ 888.9 $ 670.3 $ 2,375.1 $ 1,869.3 Clean Energy and Infrastructure 563.2 518.4 1,493.5 1,350.3 Oil and Gas 375.8 858.4 927.9 2,205.3 Power Delivery 688.4 365.3 1,985.4 731.4 Other — 0.0 — 0.0 Eliminations (2.8) (8.1) (12.2) (13.9) Consolidated revenue $ 2,513.5 $ 2,404.3 $ 6,769.7 $ 6,142.4 (a) Revenue generated primarily by utilities customers represented 21.8% and 22.2% of Communications segment revenue for the three month periods ended September 30, 2022 and 2021, respectively, and represented 23.7% and 21.0% for the nine month periods ended September 30, 2022 and 2021, respectively. For the Three Months Ended September 30, For the Nine Months Ended September 30, EBITDA: 2022 2021 2022 2021 Communications $ 109.9 $ 71.6 $ 234.5 $ 193.1 Clean Energy and Infrastructure 24.6 13.8 30.2 40.2 Oil and Gas 49.2 170.6 133.4 476.2 Power Delivery 63.1 34.9 150.6 47.8 Other 5.6 7.5 20.0 23.3 Corporate (45.9) (26.6) (131.2) (86.3) Consolidated EBITDA $ 206.5 $ 271.8 $ 437.5 $ 694.3 For the three month period ended September 30, 2022, Communications, Oil and Gas, Power Delivery and Corporate EBITDA included $0.5 million, $1.1 million, $20.4 million and $11.2 million, respectively, of acquisition and integration costs related to the Company’s recent acquisitions, and for the nine month period ended September 30, 2022, included $2.4 million, $4.5 million, $34.5 million and $18.0 million, respectively, of such costs. For the three and nine month periods ended September 30, 2022, Corporate EBITDA included fair value losses related to an investment of $0.1 million and $7.2 million, respectively. For both the three and nine month periods ended September 30, 2021, Corporate EBITDA included fair value losses of $6.9 million related to this investment. For the Three Months Ended September 30, For the Nine Months Ended September 30, Depreciation and Amortization: 2022 2021 2022 2021 Communications $ 32.5 $ 26.4 $ 92.1 $ 72.0 Clean Energy and Infrastructure 12.4 13.0 35.5 31.1 Oil and Gas 34.1 55.5 97.9 163.8 Power Delivery 37.7 21.1 110.1 41.3 Other — 0.0 — 0.0 Corporate 2.6 2.7 9.1 8.5 Consolidated depreciation and amortization $ 119.3 $ 118.7 $ 344.7 $ 316.7 Assets: September 30, December 31, 2021 (a) Communications $ 2,436.6 $ 2,100.9 Clean Energy and Infrastructure 1,047.6 1,067.0 Oil and Gas 1,575.8 1,527.6 Power Delivery 2,033.4 2,017.2 Other 287.4 238.1 Corporate 94.9 170.6 Consolidated segment assets $ 7,475.7 $ 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 Communications and Oil and Gas segment assets of $69.4 million and $77.0 million, respectively, and an increase in Corporate assets of $45.8 million. For the Three Months Ended September 30, For the Nine Months Ended September 30, EBITDA Reconciliation: 2022 2021 2022 2021 Income before income taxes $ 60.3 $ 140.0 $ 30.5 $ 338.3 Plus: Interest expense, net 26.9 13.1 62.3 39.4 Depreciation 91.3 95.4 263.5 262.1 Amortization of intangible assets 28.0 23.4 81.2 54.5 Consolidated EBITDA $ 206.5 $ 271.8 $ 437.5 $ 694.3 Foreign Operations and Other. MasTec operates primarily in the United States and Canada, and, to a far lesser extent, in Mexico, the Caribbean and India. Revenue derived from U.S. operations totaled $2.5 billion and $2.4 billion for the three month periods ended September 30, 2022 and 2021, respectively, and totaled $6.6 billion and $6.0 billion for the nine month periods ended September 30, 2022 and 2021, respectively. Revenue derived from foreign operations totaled $49.4 million and $40.8 million for the three month periods ended September 30, 2022 and 2021, respectively, and totaled $125.2 million and $120.7 million for the nine month periods ended September 30, 2022 and 2021, respectively. Revenue from foreign operations was derived primarily from the Company’s Canadian operations in its Oil and Gas segment, and, to a lesser extent, from the Company’s operations in Mexico. Long-lived assets held in the U.S. included property and equipment, net, of $1.6 billion and $1.4 billion as of September 30, 2022 and December 31, 2021, respectively, and for the Company’s businesses in foreign countries, totaled $22.1 million and $24.5 million, respectively. Intangible assets and goodwill, net, related to the Company’s U.S. operations totaled approximately $2.1 billion as of both September 30, 2022 and December 31, 2021, and for the Company’s businesses in foreign countries, totaled approximately $36.7 million and $43.8 million as of September 30, 2022 and December 31, 2021, respectively. Substantially all of the Company’s long-lived and intangible assets and goodwill in foreign countries relate to its Canadian operations. As of September 30, 2022 and December 31, 2021, amounts due from customers from which foreign revenue was derived accounted for approximately 1% and 2%, respectively, of the Company’s consolidated net accounts receivable position, which represents accounts receivable, net, less deferred revenue. Revenue from governmental entities for the three and nine month periods ended September 30, 2022 totaled approximately 6% and 7%, respectively, of total revenue, and for both the three and nine month periods ended September 30, 2021, totaled approximately 5% of total revenue, substantially all of which was derived from the Company’s U.S. operations. Significant Customers For the three and nine month periods ended September 30, 2022, no customer represented greater than 10% of the Company’s total consolidated revenue. For the three and nine month periods ended September 30, 2021, revenue from Enbridge, Inc. represented 21% and 19%, respectively, of the Company’s total consolidated revenue. The Company’s relationship with Enbridge, Inc. is based upon various construction contracts for pipeline activities, for which the related revenue is included within the Oil and Gas segment.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 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, of which $6 million , net of related settlement costs, is reflected within other current assets a s of September 30, 2022. Net of legal and other costs incurred, the Company recorded $5 million of other income related to this settlement in the third quarter of 2021. 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 investment 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 September 30, 2022 and December 31, 2021, there were $162.4 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 September 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 September 30, 2022 and December 31, 2021, outstanding performance and payment bonds approximated $2,351.7 million and $2,155.2 million, respectively, and estimated costs to complete projects secured by these bonds totaled $775.0 million and $768.8 million, respectively. Included in these balances as of both September 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 September 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 September 30, 2022 and December 31, 2021 are amounts held by entities that are proportionately consolidated totaling $15.1 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 September 30, 2022 and December 31, 2021, are generally not available for use in the Company’s other operations. As of September 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 $178.8 million and $189.8 million, respectively, of which $107.4 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 $4.2 million as of both September 30, 2022 and December 31, 2021. 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 $103.0 million and $125.7 million as of September 30, 2022 and December 31, 2021, respectively. As of September 30, 2022 and December 31, 2021, outstanding surety bonds related to self-insurance programs amounted to $110.9 million and $52.9 million, respectively. 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 September 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 was obligated to make quarterly payments of approximately $74,000 through 2036. As of September 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. In October 2022, the Company reached an agreement with the related pension fund, and paid $2.8 million in full settlement of this liability. 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 September 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 nine month period ended September 30, 2022, the Company had approximately 1290 customers. As of September 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 September 30, 2022 and 2021, the Company derived approximately 41% a nd 58% , respectively, of its revenue from its top ten customers, and derived 42% and 56% for the nine month periods ended September 30, 2022 and 2021, respectively.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 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 September 30, 2022 and 2021, such payments to related party entities totaled approximately $8.0 million and $20.7 million, respectively, and for the nine month periods ended September 30, 2022 and 2021, totaled approximately $22.7 million and $71.8 million, respectively. Payables associated with such arrangements totaled approximately $2.5 million and $0.6 million as of September 30, 2022 and December 31, 2021, respectively. Revenue from such related party arrangements totaled approximately $2.4 million and $0.8 million for the three month periods ended September 30, 2022 and 2021, respectively, and totaled approximately $7.4 million and $2.9 million for the nine month periods ended September 30, 2022 and 2021, respectively. Related amounts receivable, net, totaled approximately $2.2 million and $0.4 million as of September 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 nine month periods ended September 30, 2022, MasTec paid CCI $1.1 million and $2.9 million, respectively, related to this activity, and for the three and nine month periods ended September 30, 2021, paid approximately $8.0 million and $18.6 million, net of rebates, respectively. Amounts payable to CCI totaled approximately $1.1 million and $0.8 million as of September 30, 2022 and December 31, 2021, respectively. The Company has also rented equipment to CCI. Revenue from equipment rentals to CCI totaled approximately $0.2 million for both the three and nine month periods ended September 30, 2022, and such revenue was de minimis for the three and nine month periods ended September 30, 2021. As of September 30, 2022, related amounts receivable totaled $0.1 million, and as of December 31, 2021, there were no amounts receivable. 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 September 30, 2022 and 2021, MasTec incurred subcontracting expenses in connection with this arrangement of approximately $0.1 million and $41.1 million, respectively, and for the nine month periods ended September 30, 2022 and 2021, incurred subcontracting expenses of approximately $0.2 million and $86.9 million, respectively. As of September 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 aircraft that is owned by an entity that Jorge Mas owns. For the three month periods ended September 30, 2022 and 2021, MasTec paid approximately $0.7 million and $0.6 million, respectively, related to this leasing arrangement, and paid approximately $1.9 million for both the nine month periods ended September 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. Payments for other expenses related to the Franchise for both the three month periods ended September 30, 2022 and 2021 totaled approximately $0.1 million, and totaled approximately $0.4 million and $0.3 million for the nine month periods ended September 30, 2022 and 2021, respectively. Beginning in the fourth quarter of 2021, 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 nine month periods ended September 30, 2022, revenue recognized by MasTec under this arrangement totaled approximately $38.0 million and $98.7 million, respectively, and as of September 30, 2022, related amounts receivable totaled approximately $36.6 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, under which MasTec incurred approximately $0.4 million and $0.9 million for the three and nine month periods ended September 30, 2022, of which $0.4 million was payable as of September 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 September 30, 2022 and 2021, and totaled approximately $0.9 million for both the nine month periods ended September 30, 2022 and 2021. As of both September 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 $2.0 million and $0.5 million as of September 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 September 30, 2022, and as of December 31, 2021, approximately $1.0 million of such advances was outstanding. In addition, the Company has a subcontracting arrangement with an entity in which it has a 25% interest. The Company’s interest in this entity is accounted for as an equity method investment. For the three and nine month periods ended September 30, 2022, the Company made equity contributions to this entity of approximately $0.1 million and $0.6 million, respectively. As of September 30, 2022 and December 31, 2021, the Company’s net investment in this entity was a liability of approximately $1.2 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 September 30, 2022 and 2021, and totaled $0.6 million for both the nine month periods ended September 30, 2022 and 2021 . As of September 30, 2022 and December 31, 2021, related amounts receivable totaled $0.6 million and $0.4 million, respectively. 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. For both the three month periods ended September 30, 2022 and 2021, the Company paid $0.6 million in connection with the agreements for Jorge Mas, and no payments were made for José R. Mas. For both the nine month periods ended September 30, 2022 and 2021, the Company paid $1.1 million in connection with the agreements for Jorge Mas, and paid $0.7 million for José R. Mas. As of September 30, 2022 and December 31, 2021, life insurance assets associated with these agreements totaled approximately $25.8 million and $24.0 million, respectively.

Business, Basis of Presentati_2

Business, Basis of Presentation and Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 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; recessionary issues; climate-related matters; market, regulatory and industry factors; global events, such as the ongoing military conflict in Ukraine; and public health matters. 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; certain other accruals and allowances; income taxes; and the estimated effects of litigation and other contingencies.
General Economic, Regulatory and Market Conditions	General Economic, Regulatory and Market Conditions The Company has experienced, and may continue to experience, direct and indirect negative effects on its business and operations from negative economic, regulatory and market conditions, including recent inflationary effects on fuel prices, labor and materials costs, rising interest rates, potential recessionary impacts and supply chain disruptions that could negatively affect demand for new projects and/or delay existing project timing or cause increased project costs. 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. While the adverse effects of the COVID-19 pandemic began to subside in 2022, its effects vary, and economic conditions and business activities could be disrupted in the future. The extent to which general economic, regulatory and market conditions 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 52% and 37% of consolidated revenue for the three month periods ended September 30, 2022 and 2021, respectively, and totaled 54% and 35% for the nine month periods ended September 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 nine month periods ended September 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, operational 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 nine month periods ended September 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 September 30, 2022 and 2021 totaled n et increases o f approximately $3.8 million and $5.2 million, respectively. For the nine month periods ended September 30, 2022 and 2021, such changes totaled net increases of approximately $10.7 million and $36.9 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 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 September 30, 2022, the amount of the Company’s remaining performance obligations was $5.3 billion. Based on current expectations, the Company anticipates it will recognize approximately $1.6 billion of its remaining performance obligations as revenue during 2022, with the vast 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 September 30, 2022 and December 31, 2021, the Company included approximately $141 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 September 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)	9 Months Ended
	Sep. 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 September 30, For the Nine Months Ended September 30, 2022 2021 2022 2021 Net income attributable to MasTec: Net income - basic (a) $ 48,896 $ 111,087 $ 30,130 $ 252,187 Fair value gain (loss) related to resolved contingent payments (b) $ 143 $ — $ 1,459 $ — Net income - diluted (a) $ 48,753 $ 111,087 $ 28,671 $ 252,187 Weighted average shares outstanding: Weighted average shares outstanding - basic (c) 73,936 72,503 74,386 72,481 Dilutive common stock equivalents (d)(e) 1,137 1,474 1,190 1,440 Weighted average shares outstanding - diluted 75,073 73,977 75,576 73,921 (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, Net. (b) For the three and nine month periods ended September 30, 2022, represents the fair value gain or loss related to additional contingent payments for which the contingency has been resolved as of September 30, 2022. See Note 3 – Acquisitions, Goodwill and Other Intangible Assets, Net for additional information. (c) For the three and nine month periods ended September 30, 2022, basic shares include approximately 140,000 and 114,000 weighted average shares, respectively, related to additional contingent payments. (d) For the three and nine month periods ended September 30, 2022, weighted average anti-dilutive common stock equivalents totaled approximately 8,000 and 135,000 respectively, and for the three and nine month periods ended September 30, 2021, totaled approximately 10,000 and 109,000, respectively. (e) For the three and nine month periods ended September 30, 2022, common stock equivalents included approximately 11,000 and 37,000 weighted average shares, respectively, related to additional contingent payments to the former owners of an acquired business.

Acquisitions, Goodwill, and O_2

Acquisitions, Goodwill, and Other Intangible Assets, Net (Tables)	9 Months Ended
	Sep. 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 nine month period ended September 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 2.9 5.9 4.1 1.6 14.5 Measurement period adjustments (c) (11.4) 2.1 6.2 (36.8) (39.9) Currency translation adjustments — — (1.4) — (1.4) Goodwill, net as of September 30, 2022 $ 606.0 $ 174.1 $ 445.5 $ 268.2 $ 1,493.8 (a) The above described change in segment reporting for the HMG acquisition resulted in a decrease in goodwill for the Power Delivery segment of $23.4 million and increases 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 — 5.2 — 0.7 5.9 Measurement period adjustments (b) — 56.0 — (10.6) 45.4 Currency translation adjustments — — (2.1) — (2.1) Amortization expense (65.5) (6.6) (9.1) (81.2) Other intangible assets, net, as of September 30, 2022 $ 34.5 $ 480.8 $ 43.8 $ 79.2 $ 638.3 (a) Consists principally of 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, as of September 30, 2022 (in millions): Acquisition consideration (a) : HMG All other Total Cash, net of cash acquired $ 402.4 $ 866.6 $ 1,269.0 Shares transferred 181.7 — 181.7 Estimated fair value of contingent consideration — 102.9 102.9 Total consideration $ 584.1 $ 969.5 $ 1,553.6 Identifiable assets acquired and liabilities assumed: Accounts receivable and contract assets $ 409.5 $ 271.1 $ 680.6 Current assets 14.6 26.8 41.4 Property and equipment 252.1 250.6 502.7 Long-term assets, primarily operating lease right-of-use assets 84.9 81.9 166.8 Amortizing intangible assets 164.4 444.2 608.6 Accounts payable (108.0) (49.3) (157.3) Current liabilities, including current portion of operating lease liabilities (154.3) (137.1) (291.4) Long-term debt, including finance lease obligations (0.2) (4.4) (4.6) Long-term liabilities, primarily operating lease liabilities and deferred income taxes (150.3) (76.6) (226.9) Total identifiable net assets $ 512.7 $ 807.2 $ 1,319.9 Goodwill 71.4 165.9 237.3 Total net assets acquired, including goodwill $ 584.1 $ 973.1 $ 1,557.2 Bargain purchase gain — (3.6) (3.6) Total consideration $ 584.1 $ 969.5 $ 1,553.6

Accounts Receivable, Net of A_2

Accounts Receivable, Net of Allowance, and Contract Assets and Liabilities (Tables)	9 Months Ended
	Sep. 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): September 30, December 31, Contract billings $ 1,065.6 $ 1,027.1 Less allowance (8.1) (7.8) Accounts receivable, net of allowance $ 1,057.5 $ 1,019.3 Retainage 277.1 296.8 Unbilled receivables 1,340.3 931.1 Contract assets $ 1,617.4 $ 1,227.9

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	9 Months Ended
	Sep. 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): September 30, December 31, Land $ 55.8 $ 40.0 Buildings and leasehold improvements 86.1 94.1 Machinery and equipment 2,677.9 2,411.0 Office furniture and equipment 281.4 262.6 Construction in progress 79.9 32.7 Total property and equipment $ 3,181.1 $ 2,840.4 Less accumulated depreciation and amortization (1,593.0) (1,404.3) Property and equipment, net $ 1,588.1 $ 1,436.1

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 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 September 30, December 31, Senior credit facility: November 1, 2026 Revolving loans $ 920.5 $ 772.3 Term loan 350.0 350.0 4.50% Senior Notes August 15, 2028 600.0 600.0 Finance lease and other obligations 370.3 310.3 Total debt obligations $ 2,240.8 $ 2,032.6 Less unamortized deferred financing costs (16.5) (18.5) Total debt, net of deferred financing costs $ 2,224.3 $ 2,014.1 Current portion of long-term debt 156.8 137.9 Long-term debt $ 2,067.5 $ 1,876.2

Lease Obligations (Tables)

Lease Obligations (Tables)	9 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Schedule of Future Minimum Lease Commitments, Finance Leases	Future minimum lease commitments as of September 30, 2022 were as follows (in millions): Finance Leases Operating 2022, remaining three months $ 43.8 $ 22.9 2023 141.6 83.2 2024 97.1 65.8 2025 63.9 42.6 2026 16.9 27.0 Thereafter 0.6 28.0 Total minimum lease payments $ 363.9 $ 269.5 Less amounts representing interest (18.5) (15.9) Total lease obligations, net of interest $ 345.4 $ 253.6 Less current portion 146.2 85.1 Long-term portion of lease obligations, net of interest $ 199.2 $ 168.5
Schedule of Future Minimum Lease Commitments, Operating Leases	Future minimum lease commitments as of September 30, 2022 were as follows (in millions): Finance Leases Operating 2022, remaining three months $ 43.8 $ 22.9 2023 141.6 83.2 2024 97.1 65.8 2025 63.9 42.6 2026 16.9 27.0 Thereafter 0.6 28.0 Total minimum lease payments $ 363.9 $ 269.5 Less amounts representing interest (18.5) (15.9) Total lease obligations, net of interest $ 345.4 $ 253.6 Less current portion 146.2 85.1 Long-term portion of lease obligations, net of interest $ 199.2 $ 168.5

Stock-Based Compensation and _2

Stock-Based Compensation and Other Employee Benefit Plans (Tables)	9 Months Ended
	Sep. 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 221,525 84.36 Vested (232,408) 47.81 Canceled/forfeited (75,225) 43.84 Non-vested restricted shares, as of September 30, 2022 1,662,577 $ 48.57 (a) Includes 2,150 and 1,300 restricted stock units as of September 30, 2022 and December 31, 2021, respectively.

Other Retirement Plans (Tables)

Other Retirement Plans (Tables)	9 Months Ended
	Sep. 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 September 30: 2022 6,774 7,136 $ 23.0 $ 14.5 $ 37.5 2021 5,116 6,979 $ 36.9 $ 11.7 $ 48.6 For the Nine Months Ended September 30: 2022 6,601 7,136 $ 62.3 $ 41.6 $ 103.9 2021 2,412 6,979 $ 81.1 $ 21.9 $ 103.0

Segments and Related Informat_2

Segments and Related Information (Tables)	9 Months Ended
	Sep. 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 September 30, For the Nine Months Ended September 30, Revenue: 2022 2021 2022 2021 Communications (a) $ 888.9 $ 670.3 $ 2,375.1 $ 1,869.3 Clean Energy and Infrastructure 563.2 518.4 1,493.5 1,350.3 Oil and Gas 375.8 858.4 927.9 2,205.3 Power Delivery 688.4 365.3 1,985.4 731.4 Other — 0.0 — 0.0 Eliminations (2.8) (8.1) (12.2) (13.9) Consolidated revenue $ 2,513.5 $ 2,404.3 $ 6,769.7 $ 6,142.4 (a) Revenue generated primarily by utilities customers represented 21.8% and 22.2% of Communications segment revenue for the three month periods ended September 30, 2022 and 2021, respectively, and represented 23.7% and 21.0% for the nine month periods ended September 30, 2022 and 2021, respectively. For the Three Months Ended September 30, For the Nine Months Ended September 30, EBITDA: 2022 2021 2022 2021 Communications $ 109.9 $ 71.6 $ 234.5 $ 193.1 Clean Energy and Infrastructure 24.6 13.8 30.2 40.2 Oil and Gas 49.2 170.6 133.4 476.2 Power Delivery 63.1 34.9 150.6 47.8 Other 5.6 7.5 20.0 23.3 Corporate (45.9) (26.6) (131.2) (86.3) Consolidated EBITDA $ 206.5 $ 271.8 $ 437.5 $ 694.3 For the Three Months Ended September 30, For the Nine Months Ended September 30, Depreciation and Amortization: 2022 2021 2022 2021 Communications $ 32.5 $ 26.4 $ 92.1 $ 72.0 Clean Energy and Infrastructure 12.4 13.0 35.5 31.1 Oil and Gas 34.1 55.5 97.9 163.8 Power Delivery 37.7 21.1 110.1 41.3 Other — 0.0 — 0.0 Corporate 2.6 2.7 9.1 8.5 Consolidated depreciation and amortization $ 119.3 $ 118.7 $ 344.7 $ 316.7 Assets: September 30, December 31, 2021 (a) Communications $ 2,436.6 $ 2,100.9 Clean Energy and Infrastructure 1,047.6 1,067.0 Oil and Gas 1,575.8 1,527.6 Power Delivery 2,033.4 2,017.2 Other 287.4 238.1 Corporate 94.9 170.6 Consolidated segment assets $ 7,475.7 $ 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 Communications and Oil and Gas segment assets 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 September 30, For the Nine Months Ended September 30, EBITDA Reconciliation: 2022 2021 2022 2021 Income before income taxes $ 60.3 $ 140.0 $ 30.5 $ 338.3 Plus: Interest expense, net 26.9 13.1 62.3 39.4 Depreciation 91.3 95.4 263.5 262.1 Amortization of intangible assets 28.0 23.4 81.2 54.5 Consolidated EBITDA $ 206.5 $ 271.8 $ 437.5 $ 694.3

Business, Basis of Presentati_3

Business, Basis of Presentation and Significant Accounting Policies - Narrative (Details)	9 Months Ended
	Sep. 30, 2022 segment
Accounting Policies [Abstract]
Number of reportable segments	5

Business, Basis of Presentati_4

Business, Basis of Presentation and Significant Accounting Policies - Revenue Recognition (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 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	$ (3.8)	$ 5.2	$ 10.7	$ 36.9
Revenue recognition, remaining performance obligations, contract price allocated	5,300		5,300
Contract with customer, unapproved change orders and/or claims, amount	$ 141		$ 141		$ 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	52%	37%	54%	35%
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]: 2022-10-01
Revenue [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	3 months		3 months
Revenue recognition, remaining performance obligations, contract price allocated	$ 1,600		$ 1,600

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares		1 Months Ended			3 Months Ended		9 Months Ended
	Oct. 07, 2022	Oct. 31, 2022	May 31, 2022	Dec. 31, 2021	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Business Acquisition [Line Items]
Treasury stock acquired (in shares)					0	0	1,124,000	0
Repurchase effect on weighted average shares outstanding, decrease (in shares)							598,000
HMG
Business Acquisition [Line Items]
Business acquisition, number of shares issued (in shares)			133,000	1,975,000
2022 Acquisitions, IEA | Subsequent Event
Business Acquisition [Line Items]
Business acquisition, number of shares issued (in shares)	2,700,000	2,652,000

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Earnings Per Share (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Net income attributable to MasTec:
Net income - basic	$ 48,896	$ 111,087	$ 30,130	$ 252,187
Fair value gain (loss) related to resolved contingent payments	143	0	1,459	0
Net income - diluted	$ 48,753	$ 111,087	$ 28,671	$ 252,187
Weighted average shares outstanding:
Weighted average shares outstanding - basic (in shares)	73,936	72,503	74,386	72,481
Dilutive common stock equivalents (in shares)	1,137	1,474	1,190	1,440
Weighted average shares outstanding - diluted (in shares)	75,073	73,977	75,576	73,921
Basic weighted average common shares outstanding (in shares)	73,936	72,503	74,386	72,481
Anti-dilutive common stock (in shares)	8	10	135	109
Dilutive common stock equivalents (in shares)	1,137	1,474	1,190	1,440
2021 Acquisition, Acquisition One | Former Owner Of Acquired Business
Weighted average shares outstanding:
Weighted average shares outstanding - basic (in shares)	140		114
Dilutive common stock equivalents (in shares)	11		37
Basic weighted average common shares outstanding (in shares)	140		114
Dilutive common stock equivalents (in shares)	11		37

Acquisitions, Goodwill, and O_3

Acquisitions, Goodwill, and Other Intangible Assets, Net - Rollforward of Goodwill by Segment (Details) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Goodwill [Line Items]
Goodwill		$ 1,645,300
Accumulated impairment loss		(124,700)
Goodwill, net	$ 1,493,843	1,520,575
Goodwill [Roll Forward]
Goodwill, net, beginning balance	1,520,575
Goodwill, acquired during period	14,500
Goodwill, measurement period adjustments	(39,900)
Goodwill, currency translation adjustments	(1,400)
Goodwill, net, ending balance	1,493,843	1,520,575
HMG
Goodwill [Line Items]
Goodwill, net		71,400
Goodwill [Roll Forward]
Goodwill, net, beginning balance	71,400
Goodwill, net, ending balance		71,400
Communications
Goodwill [Line Items]
Goodwill		614,500
Accumulated impairment loss		0
Goodwill, net	606,000	614,500
Goodwill [Roll Forward]
Goodwill, net, beginning balance	614,500
Goodwill, acquired during period	2,900
Goodwill, measurement period adjustments	(11,400)
Goodwill, currency translation adjustments	0
Goodwill, net, ending balance	606,000	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	174,100	166,100
Goodwill [Roll Forward]
Goodwill, net, beginning balance	166,100
Goodwill, acquired during period	5,900
Goodwill, measurement period adjustments	2,100
Goodwill, currency translation adjustments	0
Goodwill, net, ending balance	174,100	166,100
Oil and Gas
Goodwill [Line Items]
Goodwill		561,300
Accumulated impairment loss		(124,700)
Goodwill, net	445,500	436,600
Goodwill [Roll Forward]
Goodwill, net, beginning balance	436,600
Goodwill, acquired during period	4,100
Goodwill, measurement period adjustments	6,200
Goodwill, currency translation adjustments	(1,400)
Goodwill, net, ending balance	445,500	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	268,200	303,400
Goodwill [Roll Forward]
Goodwill, net, beginning balance	303,400
Goodwill, acquired during period	1,600
Goodwill, measurement period adjustments	(36,800)
Goodwill, currency translation adjustments	0
Goodwill, net, ending balance	$ 268,200	303,400
Power Delivery | HMG
Goodwill [Roll Forward]
Goodwill, period increase (decrease)		$ (23,400)

Acquisitions, Goodwill, and O_4

Acquisitions, Goodwill, and Other Intangible Assets, Net - Rollforward of Other Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 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	5,900
Measurement period adjustments	45,400
Currency translation adjustments	(2,100)
Amortization expense	(81,200)
Other intangible assets, net, ending balance	638,318
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	5,200
Measurement period adjustments, amortizing intangible assets	56,000
Currency translation adjustments, amortizing intangible assets	0
Amortization expense	(65,500)
Other intangible assets, net, amortizing, ending balance	480,800
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	(2,100)
Amortization expense	(6,600)
Other intangible assets, net, amortizing, ending balance	43,800
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	(10,600)
Currency translation adjustments, amortizing intangible assets	0
Amortization expense	(9,100)
Other intangible assets, net, amortizing, ending balance	79,200
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_5

Acquisitions, Goodwill, and Other Intangible Assets, Net - Quarterly Assessment for Indicators of Impairment - Narrative (Details)	3 Months Ended
	Sep. 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_6

Acquisitions, Goodwill, and Other Intangible Assets, Net - 2022 and 2021 Acquisitions - Narrative (Details) $ in Thousands	1 Months Ended		3 Months Ended				9 Months Ended		12 Months Ended
	May 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($) yr shares	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($) yr	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) acquisition shares	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($) yr acquisition shares
Business Acquisition [Line Items]
Cash paid for acquisitions, net of cash acquired							$ 71,841	$ 604,907
Goodwill		$ 1,520,575	$ 1,493,843		$ 1,520,575		1,493,843		$ 1,520,575
Fair value adjustment related to resolved contingent payments			(143)			$ 0	(1,459)	$ 0
Oil and Gas
Business Acquisition [Line Items]
Goodwill		436,600	445,500		436,600		445,500		436,600
Power Delivery
Business Acquisition [Line Items]
Goodwill		303,400	268,200		303,400		$ 268,200		$ 303,400
2022 Acquisitions
Business Acquisition [Line Items]
Business combinations, number of acquisitions | acquisition							4
Cash paid for acquisitions, net of cash acquired							$ 50,200
Estimated fair value of contingent consideration			3,900				3,900
2021 Acquisitions
Business Acquisition [Line Items]
Business combinations, number of acquisitions | acquisition									14
Cash paid for acquisitions, net of cash acquired									$ 1,269,000
Estimated fair value of contingent consideration		103,000			103,000				103,000
Amortizing intangible assets		608,600			608,600				608,600
Goodwill		$ 237,300			237,300				237,300
Business acquisition, goodwill, expected tax deductible amount			155,000				155,000
Bargain purchase gain									3,600
Total consideration									1,553,600
Shares transferred									$ 181,700
Acquisition-related contingent consideration liabilities, range of potential undiscounted earn-out liabilities, low			9,000				9,000
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					$ 3,600		200
2021 Acquisitions | Minimum | Expected Term
Business Acquisition [Line Items]
Business combinations, contingent consideration, earn-out period (in years) | yr		1			1				1
2021 Acquisitions | Maximum | Expected Term
Business Acquisition [Line Items]
Business combinations, contingent consideration, earn-out period (in years) | yr		5			5				5
HMG
Business Acquisition [Line Items]
Cash paid for acquisitions, net of cash acquired									$ 402,400
Amortizing intangible assets		$ 164,400			$ 164,400				$ 164,400
Amortizing intangible assets, weighted average useful life									11 years
Goodwill		$ 71,400			71,400				$ 71,400
Bargain purchase gain									0
Total consideration									584,100
Business acquisition, number of shares issued (in shares) | shares	133,000	1,975,000
Shares transferred									181,700
HMG | Contingent Consideration, Value Of Common Stock
Business Acquisition [Line Items]
Estimated fair value of contingent consideration		$ 65,000			65,000				$ 65,000
Total consideration	$ 29,400
Business acquisition, cash payment	$ 18,000
Business acquisition, number of shares issued (in shares) | shares	133,157
Fair value adjustment related to resolved contingent payments				$ 15,000
Realized gain (loss) included in other income			1,000				1,000
HMG | Power Delivery
Business Acquisition [Line Items]
Business acquisition, number of shares issued (in shares) | shares									2,000,000
Shares transferred									$ 182,000
HMG | Power Delivery | Contingent Consideration, Value Of Common Stock
Business Acquisition [Line Items]
Estimated fair value of contingent consideration			31,000				$ 31,000
Business acquisition, number of shares issued (in shares) | shares							160,000
Unrealized gain (loss) included in other income			1,300				$ 4,500
HMG | Power Delivery | Contingent Consideration, Collections From Acquired Receivables
Business Acquisition [Line Items]
Estimated fair value of contingent consideration			$ 3,900				$ 3,900
Business acquisition, number of shares issued (in shares) | shares							17,500
Unrealized gain (loss) included in other income							$ 1,600
HMG | Customer Relationships
Business Acquisition [Line Items]
Amortizing intangible assets		132,000			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									$ 866,600
Amortizing intangible assets		444,200			444,200				$ 444,200
Amortizing intangible assets, weighted average useful life									17 years
Goodwill		$ 165,900			$ 165,900				$ 165,900
Bargain purchase gain									3,600
Total consideration									969,500
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				1
All other | Customer Relationships
Business Acquisition [Line Items]
Amortizing intangible assets, weighted average useful life									17 years
INTREN | Power Delivery
Business Acquisition [Line Items]
Goodwill		$ 49,000			$ 49,000				$ 49,000
Total consideration									455,000
INTREN | Customer Relationships And Trade Names | Power Delivery
Business Acquisition [Line Items]
Amortizing intangible assets		$ 281,000			$ 281,000				$ 281,000
Amortizing intangible assets, weighted average useful life									20 years

Acquisitions, Goodwill, and O_7

Acquisitions, Goodwill, and Other Intangible Assets, Net - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Business Combination, Consideration Transferred [Abstract]
Cash, net of cash acquired	$ 71,841	$ 604,907
Identifiable assets acquired and liabilities assumed:
Goodwill	$ 1,493,843		$ 1,520,575
2021 Acquisitions
Business Combination, Consideration Transferred [Abstract]
Cash, net of cash acquired			1,269,000
Shares transferred			181,700
Estimated fair value of contingent consideration			103,000
Total consideration			1,553,600
Identifiable assets acquired and liabilities assumed:
Accounts receivable and contract assets			680,600
Current assets			41,400
Property and equipment			502,700
Long-term assets, primarily operating lease right-of-use assets			166,800
Amortizing intangible assets			608,600
Accounts payable			(157,300)
Current liabilities, including current portion of operating lease liabilities			(291,400)
Long-term debt, including finance lease obligations			(4,600)
Long-term liabilities, primarily operating lease liabilities and deferred income taxes			(226,900)
Total identifiable net assets			1,319,900
Goodwill			237,300
Total net assets acquired, including goodwill			1,557,200
Bargain purchase gain			(3,600)
Total consideration			1,553,600
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			252,100
Long-term assets, primarily operating lease right-of-use assets			84,900
Amortizing intangible assets			164,400
Accounts payable			(108,000)
Current liabilities, including current portion of operating lease liabilities			(154,300)
Long-term debt, including finance lease obligations			(200)
Long-term liabilities, primarily operating lease liabilities and deferred income taxes			(150,300)
Total identifiable net assets			512,700
Goodwill			71,400
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			866,600
Shares transferred			0
Total consideration			969,500
Identifiable assets acquired and liabilities assumed:
Accounts receivable and contract assets			271,100
Current assets			26,800
Property and equipment			250,600
Long-term assets, primarily operating lease right-of-use assets			81,900
Amortizing intangible assets			444,200
Accounts payable			(49,300)
Current liabilities, including current portion of operating lease liabilities			(137,100)
Long-term debt, including finance lease obligations			(4,400)
Long-term liabilities, primarily operating lease liabilities and deferred income taxes			(76,600)
Total identifiable net assets			807,200
Goodwill			165,900
Total net assets acquired, including goodwill			973,100
Bargain purchase gain			(3,600)
Total consideration			969,500
All other | Contingent Consideration
Business Combination, Consideration Transferred [Abstract]
Estimated fair value of contingent consideration			$ 102,900

Acquisitions, Goodwill, and O_8

Acquisitions, Goodwill, and Other Intangible Assets, Net - Pro Forma Financial Information, Acquisition Results, and Acquisition and Integration Costs - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Business Acquisition [Line Items]
Business combinations, unaudited supplemental pro forma revenue	$ 2,500	$ 3,000	$ 6,800	$ 7,900
Business combinations, unaudited supplemental pro forma net income (loss)	54	145.4	37.3	271
Business combinations, consolidated acquisition-related revenue	569.7	344.4	1,876.6	702.7
Business combinations, consolidated acquisition-related income (loss)	18.4	(6.6)	37.7	(1.3)
2021 Acquisitions, Henkels & McCoy Group, Inc. and INTREN
Business Acquisition [Line Items]
Business combinations, consolidated acquisition-related revenue	429.3		1,457.7
INTREN
Business Acquisition [Line Items]
Business combinations, consolidated acquisition-related revenue		$ 172.8		$ 275.4
2021 and 2022 Acquisitions
Business Acquisition [Line Items]
Business combination, acquisition and integration related costs	33.3		59.4
Business combination, integration related liabilities	5.6		5.6
2021 and 2022 Acquisitions | General and Administrative Expense
Business Acquisition [Line Items]
Business combination, acquisition and integration related costs	9.2		35.3
2021 and 2022 Acquisitions | Cost of Revenue, Excluding Depreciation and Amortization
Business Acquisition [Line Items]
Business combination, acquisition and integration related costs	$ 21.4
2021 and 2022 Acquisitions | Other Expense
Business Acquisition [Line Items]
Business combination, acquisition and integration related costs			$ 2.7

Acquisitions, Goodwill, and O_9

Acquisitions, Goodwill, and Other Intangible Assets, Net - IEA Acquisition (Details) - USD ($) shares in Thousands, $ in Thousands		1 Months Ended	3 Months Ended	9 Months Ended
	Oct. 07, 2022	Oct. 31, 2022	Sep. 30, 2022	Sep. 30, 2022	Sep. 30, 2021	Nov. 01, 2022
Business Acquisition [Line Items]
Cash, net of cash acquired				$ 71,841	$ 604,907
Subsequent Event | 6.625% Senior Notes | Senior Notes
Business Acquisition [Line Items]
Long-term debt obligations	$ 300,000
Debt instrument, interest rate (percentage)	6.625%
IEA Acquisition
Business Acquisition [Line Items]
Business combination, acquisition and integration related costs			$ 6,000
IEA Acquisition | Subsequent Event
Business Acquisition [Line Items]
Cash, net of cash acquired	$ 610,000
Business acquisition, number of shares issued (in shares)	2,800
Contingently issuable shares (in shares)	128
Business acquisition, equity interest issued or issuable, value assigned	$ 173,000
Value of transaction price related to exercise of warrants	$ 2,000
Acquisition costs						$ 11,000
2022 Acquisitions, IEA | Subsequent Event
Business Acquisition [Line Items]
Business acquisition, number of shares issued (in shares)	2,700	2,652

Fair Value of Financial Instr_2

Fair Value of Financial Instruments - Acquisition-Related Contingent Consideration and Other Liabilities - Narrative (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	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			$ (39,900,000)
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	$ 11,000,000		11,000,000
Acquisition-related contingent consideration liabilities, range of potential undiscounted earn-out liabilities, high	$ 165,000,000		$ 165,000,000
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	0.163		0.163
Discount Rate | Weighted Average
Fair Value, Financial Instruments Measured on a Recurring Basis [Line Items]
Acquisition-related contingent consideration liabilities, measurement input, discount rate	0.121		0.121
Earn-Out Liabilities
Fair Value, Financial Instruments Measured on a Recurring Basis [Line Items]
Acquisition-related contingent consideration liabilities, estimated fair value	$ 126,600,000		$ 126,600,000		$ 160,200,000
Acquisition-related contingent consideration liabilities, additions from new business combinations	2,100,000	$ 0	3,800,000	$ 40,100,000
Acquisition-related contingent consideration liabilities, net increase (decrease), measurement period adjustments	0	0	1,500,000	0
Acquisition-related contingent consideration liabilities, net increase (decrease), fair value adjustments, expense (income)	100,000	4,800,000	(1,200,000)	14,100,000
Acquisition-related contingent consideration liabilities, payments	11,000,000	800,000	37,800,000	47,000,000
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	29,000,000		29,000,000		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, net increase (decrease), fair value adjustments, expense (income)		$ 1,000,000		1,000,000
Earn-Out Liabilities | Mandatorily Redeemable Preferred Stock
Fair Value, Financial Instruments Measured on a Recurring Basis [Line Items]
Acquisition-related contingent consideration liabilities, payments				$ 2,100,000

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Equity Investments - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Equity investments, carrying value	$ 300,000,000		$ 300,000,000		$ 267,000,000
Equity investments, adjusted cost basis, amount	20,000,000		20,000,000		20,000,000
Equity investments, impairments	$ 0	$ 0	$ 0	$ 0
Waha JVs
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Equity method investments, ownership percentage	33%		33%
Equity investments, carrying value	$ 257,000,000		$ 257,000,000		216,000,000
CCI
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Equity investments, ownership percentage	15%		15%
Equity investments, adjusted cost basis, amount	$ 15,000,000		$ 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%		50%
Equity investments, carrying value	$ 18,000,000		$ 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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Equity method investments, equity in earnings (losses)	$ 6,059	$ 8,714	$ 19,423	$ 23,585
Equity method investments, net investment	300,000		300,000		$ 267,000
Unrealized gains (losses) on equity investee activity, net of tax	10,070	(1,041)	31,667	9,333
Waha JVs
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Equity method investments, equity in earnings (losses)	5,800	8,300	20,800	24,600
Equity method investments, distributions of earnings received, operating cash flows	4,400	4,400	12,100	4,400
Equity method investments, cumulative undistributed earnings	103,600		103,600
Equity method investments, net investment	257,000		257,000		$ 216,000
Unrealized gains (losses) on equity investee activity, before tax	13,400	1,800	42,000	14,100
Unrealized gains (losses) on equity investee activity, net of tax	$ 10,100	$ 1,300	$ 31,700	$ 10,700

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Other Investments - Other Equity Method Investments - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended		21 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Dec. 31, 2021	Mar. 31, 2021
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Equity method investments, net investment	$ 300,000,000		$ 300,000,000		$ 300,000,000	$ 267,000,000
Equity method investments, equity in earnings (losses)	6,059,000	$ 8,714,000	19,423,000	$ 23,585,000
Telecommunications Equity Method Investees
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Equity method investments, net investment	21,000,000		21,000,000		21,000,000	20,000,000
Equity method investments, equity contributions	0	0	1,100,000	2,000,000
Equity method investments, equity in earnings (losses)	400,000	600,000	(500,000)
Payments for advance to affiliate	2,000,000	200,000	2,000,000	200,000
Telecommunications Equity Method Investees | Subcontracting Arrangements
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Expenses, related party	2,600,000	3,200,000	5,100,000	7,300,000
Payables, related party	400,000		400,000		400,000	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	2,500,000		2,500,000		2,500,000	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		$ 18,000,000	17,000,000
Equity method investments, ownership percentage	50%		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	$ 3,000,000		$ 3,000,000		$ 3,000,000	4,000,000
Equity method investments, equity in earnings (losses)	(100,000)		(400,000)
Expenses, related party	$ 800,000		$ 5,800,000
Equity method investments, ownership percentage	49%		49%		49%
Payables, related party	$ 100,000		$ 100,000		$ 100,000
Line of credit, amount drawn	4,500,000		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		500,000	$ 400,000
Confluence
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Equity method investments, equity contributions		300,000	200,000	1,300,000	$ 1,900,000
Equity method investments, equity in earnings (losses)		$ (200,000)	$ 300,000	$ (600,000)
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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 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	1%		1%		3%
Beneficial ownership of all interests, percentage	1%		1%		6%
Unrealized fair value measurement gains (losses), AVCT shares	$ (0.1)	$ (7.6)	$ (7.2)	$ (7.6)
Realized gain included in other income, net		0.7
Unrealized gains (losses) on AVCT convertible debentures, before tax		(2.4)		(1.1)
Unrealized gains (losses) on AVCT convertible debentures, net of tax		$ (1.8)		$ (0.8)
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	Sep. 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	$ 522	$ 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	Sep. 30, 2022	Dec. 31, 2021
Receivables [Abstract]
Contract billings	$ 1,065,600	$ 1,027,100
Less allowance	(8,100)	(7,800)
Accounts receivable, net of allowance	1,057,450	1,019,324
Contract Assets [Abstract]
Retainage	277,100	296,800
Unbilled receivables	1,340,300	931,100
Contract assets	$ 1,617,384	$ 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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 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)			$ 700	$ (11,000)
Contract liabilities	$ 249,702		249,702		$ 313,965
Contract with customer liability, deferred revenue current	240,800		240,800		$ 296,100
Deferred revenue, revenue recognized	22,200		268,000
Non-recourse financing agreement, discount charge	26,885	$ 13,091	62,313	39,379
Receivables, Non-Recourse Arrangement
Schedule of Accounts Receivable, Net of Allowance, and Contract Assets and Liabilities [Line Items]
Non-recourse financing agreement, discount charge	$ 2,400	$ 800	$ 4,900	$ 2,300
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	Sep. 30, 2022	Dec. 31, 2021
Property and Equipment [Line Items]
Property and equipment	$ 3,181,100	$ 2,840,400
Less accumulated depreciation and amortization	(1,593,000)	(1,404,300)
Property and equipment, net	1,588,059	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	86,100	94,100
Machinery and equipment
Property and Equipment [Line Items]
Property and equipment	2,677,900	2,411,000
Office furniture and equipment
Property and Equipment [Line Items]
Property and equipment	281,400	262,600
Construction in progress
Property and Equipment [Line Items]
Property and equipment	$ 79,900	$ 32,700

Property and Equipment, Net - N

Property and Equipment, Net - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Capitalized internal-use software, gross	$ 183.6	$ 176.4
Capitalized internal-use software, net	$ 40.4	$ 43.9

Debt - Schedule of Carrying Val

Debt - Schedule of Carrying Values of Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Finance lease and other obligations	$ 370,300	$ 310,300
Total debt obligations	2,240,800	2,032,600
Less unamortized deferred financing costs	(16,500)	(18,500)
Total debt, net of deferred financing costs	2,224,300	2,014,100
Current portion of long-term debt	156,756	137,912
Long-term debt	2,067,548	1,876,233
Credit Facility | Revolving Loans
Debt Instrument [Line Items]
Long-term debt obligations	920,500	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	9 Months Ended	12 Months Ended
	Sep. 01, 2022	Mar. 31, 2025	Sep. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Line of credit facility, letters of credit issued			$ 162.4	$ 188.5
Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			(2,250)	(2,000)
Line of credit facility, letters of credit issued			$ 145	$ 166.3
Line of credit facility, unused facility fee (percentage)			0.20%	0.175%
Credit Facility | Revolving Loans
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			$ (1,900)
Line of credit facility, increase			$ 250
Weighted average interest rate (percentage)			4.30%	2.32%
Line of credit facility, remaining borrowing capacity			$ 834.5	$ 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)			4.51%	1.35%
Credit Facility | Term Loan | Forecast
Debt Instrument [Line Items]
Line of credit facility, term loan, amount of quarterly principal installment payments		$ 4.4
Credit Facility | Foreign Denomination
Debt Instrument [Line Items]
Long-term line of credit			$ 0.5	$ 32.3
Line of credit facility, remaining borrowing capacity			149.5	267.7
Credit Facility | Letters of Credit
Debt Instrument [Line Items]
Line of credit facility, capacity available for letters of credit			$ 505	$ 483.7
Credit Facility | Letters of Credit | Performance Standby
Debt Instrument [Line Items]
Line of credit facility, interest rate (percentage)			0.5625%	0.4375%
Credit Facility | Letters of Credit | Commercial and/or Financial Standby
Debt Instrument [Line Items]
Line of credit facility, interest rate (percentage)			1.375%	1.25%
Credit Facility | Unsecured Debt | New Term Loan Facility, Three-Year Tranche | Minimum | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.125%
Credit Facility | Unsecured Debt | New Term Loan Facility, Three-Year Tranche | Minimum | Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.125%
Credit Facility | Unsecured Debt | New Term Loan Facility, Three-Year Tranche | Maximum | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.625%
Credit Facility | Unsecured Debt | New Term Loan Facility, Three-Year Tranche | Maximum | Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.625%
Credit Facility | Unsecured Debt | New Term Loan Facility | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1%
Credit Facility | Unsecured Debt | New Term Loan Facility | Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.50%

Debt - Other Credit Facilities

Debt - Other Credit Facilities - Narrative (Details) - USD ($)	Sep. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Letters of credit issued	$ 162,400,000	$ 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	$ 17,400,000	$ 22,200,000
Standby Letters of Credit | Line of Credit | Letters of Credit
Debt Instrument [Line Items]
Line of credit facility, interest rate (percentage)	0.75%	0.40%

Debt - Senior Notes - Narrative

Debt - Senior Notes - Narrative (Details) - USD ($)		3 Months Ended
	Oct. 07, 2022	Dec. 31, 2022	Oct. 26, 2022	Sep. 30, 2022	Dec. 31, 2021
Senior Notes | Subsequent Event | Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Debt instrument, redemption price (percentage)	106.625%
Debt instrument, redemption price, percentage of principal amount redeemed	40%
Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				$ 2,250,000,000	$ 2,000,000,000
4.50% Senior Notes | Senior Notes
Debt Instrument [Line Items]
Long-term debt obligations				$ 600,000,000	$ 600,000,000
Debt instrument, interest rate (percentage)				4.50%	4.50%
6.625% Senior Notes | Senior Notes | Subsequent Event
Debt Instrument [Line Items]
Long-term debt obligations	$ 300,000,000
Debt instrument, interest rate (percentage)	6.625%
Consent payment amount	$ 0.0025
Debt ownership percentage	30%
Fees and expenses recognized in debt exchange		$ 2,000,000
6.625% Senior Notes | Senior Notes | Subsequent Event | Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Debt instrument, redemption price (percentage)	100%
6.625% Senior Notes | Senior Notes | Subsequent Event | Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Debt instrument, redemption price (percentage)	103.30%
Debt instrument, term	2 years
6.625% Senior Notes | Senior Notes | Subsequent Event | Debt Instrument, Redemption, Period Three
Debt Instrument [Line Items]
Debt instrument, redemption price (percentage)	100%
6.625% Senior Notes | Senior Notes | Subsequent Event | Debt Instrument, Redemption, Period Four
Debt Instrument [Line Items]
Debt instrument, redemption price (percentage)	101%
6.625% Senior Exchanged Notes | Senior Notes | Subsequent Event
Debt Instrument [Line Items]
Long-term debt obligations			$ 74,900,000

Debt - Additional Information -

Debt - Additional Information - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
Debt instruments, accrued interest payable	$ 7	$ 11.7

Debt - New Term Loan (Details)

Debt - New Term Loan (Details) $ in Thousands	Sep. 01, 2022 USD ($) fiscalQuarter	Mar. 31, 2026 USD ($)	Mar. 31, 2024 USD ($)	Sep. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Debt Instrument [Line Items]
Financing costs				$ 16,500	$ 18,500
Unsecured Debt | New Term Loan Facility | Line of Credit
Debt Instrument [Line Items]
Debt instrument, face amount	$ 700,000
Consolidated leverage ratio, maximum	3.50
Consolidated interest coverage ratio, minimum	3
Financing costs				$ 2,000
Unsecured Debt | New Term Loan Facility | Line of Credit | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1%
Unsecured Debt | New Term Loan Facility | Line of Credit | Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.50%
Unsecured Debt | New Term Loan Facility | Credit Facility | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1%
Unsecured Debt | New Term Loan Facility | Credit Facility | Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.50%
Unsecured Debt | New Term Loan Facility, Three-Year Tranche | Line of Credit
Debt Instrument [Line Items]
Debt instrument, face amount	$ 400,000
Debt instrument, term	3 years
Unsecured Debt | New Term Loan Facility, Three-Year Tranche | Line of Credit | Minimum | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.125%
Unsecured Debt | New Term Loan Facility, Three-Year Tranche | Line of Credit | Minimum | Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.125%
Unsecured Debt | New Term Loan Facility, Three-Year Tranche | Line of Credit | Maximum | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.50%
Unsecured Debt | New Term Loan Facility, Three-Year Tranche | Line of Credit | Maximum | Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.50%
Unsecured Debt | New Term Loan Facility, Three-Year Tranche | Credit Facility | Minimum | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.125%
Unsecured Debt | New Term Loan Facility, Three-Year Tranche | Credit Facility | Minimum | Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.125%
Unsecured Debt | New Term Loan Facility, Three-Year Tranche | Credit Facility | Maximum | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.625%
Unsecured Debt | New Term Loan Facility, Three-Year Tranche | Credit Facility | Maximum | Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.625%
Unsecured Debt | New Term Loan Facility, Five-Year Tranche | Line of Credit
Debt Instrument [Line Items]
Debt instrument, face amount	$ 300,000
Debt instrument, term	5 years
Unsecured Debt | New Term Loan Facility, Five-Year Tranche | Line of Credit | Forecast
Debt Instrument [Line Items]
Quarterly installments		$ 7,500	$ 3,750
Unsecured Debt | New Term Loan Facility, Five-Year Tranche | Line of Credit | Minimum | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.25%
Unsecured Debt | New Term Loan Facility, Five-Year Tranche | Line of Credit | Minimum | Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.25%
Unsecured Debt | New Term Loan Facility, Five-Year Tranche | Line of Credit | Maximum | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.625%
Unsecured Debt | New Term Loan Facility, Five-Year Tranche | Line of Credit | Maximum | Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.625%
Unsecured Debt | New Term Loan Facility, Acquisition Adjustment | Line of Credit
Debt Instrument [Line Items]
Consolidated leverage ratio, maximum	4
Acquisition adjustment, maximum	$ 100,000
Number of subsequent fiscal quarters | fiscalQuarter	4

Debt - Bridge Facility (Details

Debt - Bridge Facility (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Financing costs	$ 16.5	$ 18.5
Bridge Facility and Term Loan Facility | Credit Facility
Debt Instrument [Line Items]
Financing costs	$ 2.7

Lease Obligations - Narrative (

Lease Obligations - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Lessee, Lease, Description [Line Items]
Leases, remaining lease terms			10 years
Finance leases, assets, gross	$ 624.6		$ 624.6		$ 653.5
Assets held under finance leases, location	Property and equipment, net		Property and equipment, net		Property and equipment, net
Finance leases, assets, net	$ 458.5		$ 458.5		$ 468.5
Finance leases, assets, depreciation	22.8	$ 21.1	63.2	$ 58.8
Operating leases, additions	$ 12.7	3.9	$ 58.1	89.2
Operating leases, term of contract	1 year		1 year
Operating leases, expense	$ 30.6	26.1	$ 98.5	81.6
Operating leases, variable lease costs	2.3	2.4	7.8	7.5
Operating leases, short-term leases, expense	$ 98.8	$ 158.3	$ 258.1	399.2
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	3.60%		3.60%
Operating leases, weighted average remaining lease term (in years)	4 years 2 months 12 days		4 years 2 months 12 days
Operating leases, weighted average discount rate, percent	2.90%		2.90%
Leases not yet commenced, undiscounted amount	$ 23.1		$ 23.1
2021 Acquisitions
Lessee, Lease, Description [Line Items]
Operating leases, additions				$ 74.6
Minimum
Lessee, Lease, Description [Line Items]
Leases not yet commenced, term of contract	4 years		4 years
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
Lessee, Lease, Description [Line Items]
Leases not yet commenced, term of contract	11 years		11 years
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	Sep. 30, 2022	Dec. 31, 2021
Finance Leases
2022, remaining three months	$ 43,800
2023	141,600
2024	97,100
2025	63,900
2026	16,900
Thereafter	600
Total minimum lease payments	363,900
Less amounts representing interest	(18,500)
Total lease obligations, net of interest	345,400
Less current portion	146,200
Long-term portion of lease obligations, net of interest	$ 199,200
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 three months	$ 22,900
2023	83,200
2024	65,800
2025	42,600
2026	27,000
Thereafter	28,000
Total minimum lease payments	269,500
Less amounts representing interest	(15,900)
Total lease obligations, net of interest	253,600
Less current portion	85,081	$ 95,426
Long-term portion of lease obligations, net of interest	$ 168,511	$ 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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 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)	3,428		3,428
Non-cash stock-based compensation expense	$ 5.7	$ 6.1	$ 18.9	$ 17.7
Stock-based compensation, income tax benefits	$ 0.9	$ 1.2	4.3	3.4
Stock-based compensation, vested awards, net income tax benefits			$ 0.9	$ 0.2

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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Stock-Based Compensation and Other Employee Benefit Plans [Line Items]
Stock-based compensation awards, unearned compensation	$ 38.9		$ 38.9
Stock-based compensation awards, unearned compensation, weighted average expected recognition period (in years)			1 year 10 months 24 days
Stock-based compensation, vested awards, intrinsic value	$ 0.3	$ 0.3	$ 19.5	$ 11.6

Stock-Based Compensation and _5

Stock-Based Compensation and Other Employee Benefit Plans - Schedule of Activity, Restricted Shares (Details)	9 Months Ended
	Sep. 30, 2022 $ / shares shares
Restricted Shares
Restricted Shares
Non-vested restricted shares, beginning balance (in shares)	1,748,685
Granted (in shares)	221,525
Vested (in shares)	(232,408)
Canceled/forfeited (in shares)	(75,225)
Non-vested restricted shares, ending balance (in shares)	1,662,577
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	84.36
Vested (in dollars per share) | $ / shares	47.81
Canceled/forfeited (in dollars per share) | $ / shares	43.84
Non-vested restricted shares, ending balance (in dollars per share) | $ / shares	$ 48.57
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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Stock-Based Compensation and Other Employee Benefit Plans [Line Items]
Common shares issued (in shares)	25,495	21,636	82,121	60,669
Employee Stock Purchase Plans
Stock-Based Compensation and Other Employee Benefit Plans [Line Items]
ESPP purchase price, percent			85%
Cash proceeds	$ 1.7	$ 1.8	$ 5.3	$ 5
Compensation expense	$ 0.3	$ 0.3	$ 1	$ 0.9

Other Retirement Plans (Details

Other Retirement Plans (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($) employee	Sep. 30, 2021 USD ($) employee	Sep. 30, 2022 USD ($) employee	Sep. 30, 2021 USD ($) employee
Covered Employees and Contributions, Multiemployer Plans [Line Items]
Multiemployer plan, employer contribution, cost	$ 37.5	$ 48.6	$ 103.9	$ 103
Pension
Covered Employees and Contributions, Multiemployer Plans [Line Items]
Multiemployer plan, employer contribution, cost	23	36.9	62.3	81.1
Other Multiemployer
Covered Employees and Contributions, Multiemployer Plans [Line Items]
Multiemployer plan, employer contribution, cost	$ 14.5	$ 11.7	$ 41.6	$ 21.9
Low
Covered Employees and Contributions, Multiemployer Plans [Line Items]
Multiemployer plans, covered employees (in number of employees) | employee	6,774	5,116	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				9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Equity, Treasury Stock [Line Items]
Treasury stock acquired (in shares)	0			0	1,124,000	0
Treasury stock acquired, value					$ 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)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Consolidated effective tax rate, percent	18.40%	19.70%	(0.20%)	24.80%

Segments and Related Informat_3

Segments and Related Information - Narrative (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) segment	Sep. 30, 2021 USD ($)
Segment Reporting [Abstract]
Number of operating segments | segment			5
Number of reportable segments | segment			5
Corporate
Segment Reporting, Other Significant Reconciling Item [Line Items]
Gain (loss) on investments	$ 0.1	$ 6.9	$ 7.2	$ 6.9
2021 Acquisitions | Corporate
Segment Reporting, Other Significant Reconciling Item [Line Items]
Business combination, acquisition and integration related costs	11.2		18
Power Delivery | 2021 Acquisitions | Operating Segments
Segment Reporting, Other Significant Reconciling Item [Line Items]
Business combination, acquisition and integration related costs	20.4		34.5
Communications | 2021 Acquisitions | Operating Segments
Segment Reporting, Other Significant Reconciling Item [Line Items]
Business combination, acquisition and integration related costs	0.5		2.4
Oil and Gas | 2021 Acquisitions | Operating Segments
Segment Reporting, Other Significant Reconciling Item [Line Items]
Business combination, acquisition and integration related costs	$ 1.1		$ 4.5

Segments and Related Informat_4

Segments and Related Information - Schedule of Financial Information by Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Mar. 31, 2022	Dec. 31, 2021
Revenue:
Consolidated revenue	$ 2,513,484	$ 2,404,332	$ 6,769,677	$ 6,142,414
Consolidated EBITDA	206,500	271,800	437,500	694,300
Consolidated depreciation and amortization	119,300	$ 118,700	344,700	$ 316,700
Consolidated segment assets	$ 7,475,663		$ 7,475,663			$ 7,121,393
Communications | Customer Concentration Risk | Revenue | Utilities
Revenue:
Utilities customers, percentage of communications segment revenue	21.80%	22.20%	23.70%	21%
Reportable Segments | Communications
Revenue:
Consolidated revenue	$ 888,900	$ 670,300	$ 2,375,100	$ 1,869,300
Consolidated EBITDA	109,900	71,600	234,500	193,100
Consolidated depreciation and amortization	32,500	26,400	92,100	72,000
Consolidated segment assets	2,436,600		2,436,600			2,100,900
Reportable Segments | Communications | Revision of Prior Period, Adjustment
Revenue:
Consolidated segment assets					$ 69,400
Reportable Segments | Clean Energy and Infrastructure
Revenue:
Consolidated revenue	563,200	518,400	1,493,500	1,350,300
Consolidated EBITDA	24,600	13,800	30,200	40,200
Consolidated depreciation and amortization	12,400	13,000	35,500	31,100
Consolidated segment assets	1,047,600		1,047,600			1,067,000
Reportable Segments | Oil and Gas
Revenue:
Consolidated revenue	375,800	858,400	927,900	2,205,300
Consolidated EBITDA	49,200	170,600	133,400	476,200
Consolidated depreciation and amortization	34,100	55,500	97,900	163,800
Consolidated segment assets	1,575,800		1,575,800			1,527,600
Reportable Segments | Oil and Gas | Revision of Prior Period, Adjustment
Revenue:
Consolidated segment assets					77,000
Reportable Segments | Power Delivery
Revenue:
Consolidated revenue	688,400	365,300	1,985,400	731,400
Consolidated EBITDA	63,100	34,900	150,600	47,800
Consolidated depreciation and amortization	37,700	21,100	110,100	41,300
Consolidated segment assets	2,033,400		2,033,400			2,017,200
Reportable Segments | Power Delivery | Revision of Prior Period, Adjustment
Revenue:
Consolidated segment assets					(192,200)
Reportable Segments | Other
Revenue:
Consolidated revenue	0	0	0	0
Consolidated EBITDA	5,600	7,500	20,000	23,300
Consolidated depreciation and amortization	0	0	0	0
Consolidated segment assets	287,400		287,400			238,100
Eliminations
Revenue:
Consolidated revenue	(2,800)	(8,100)	(12,200)	(13,900)
Corporate
Revenue:
Consolidated EBITDA	(45,900)	(26,600)	(131,200)	(86,300)
Consolidated depreciation and amortization	2,600	$ 2,700	9,100	$ 8,500
Consolidated segment assets	$ 94,900		$ 94,900			$ 170,600
Corporate | Revision of Prior Period, Adjustment
Revenue:
Consolidated segment assets					$ 45,800

Segments and Related Informat_5

Segments and Related Information - Reconciliation of Consolidated Income before Income Taxes to EBITDA (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
EBITDA Reconciliation:
Income before income taxes	$ 60,311	$ 140,035	$ 30,450	$ 338,290
Interest expense, net	26,885	13,091	62,313	39,379
Depreciation	91,291	95,366	263,487	262,132
Amortization of intangible assets	27,979	23,352	81,242	54,522
Consolidated EBITDA	$ 206,500	$ 271,800	$ 437,500	$ 694,300

Segments and Related Informat_6

Segments and Related Information - Foreign Operations and Other - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Segments and Related Information [Line Items]
Revenue	$ 2,513,484	$ 2,404,332	$ 6,769,677	$ 6,142,414
Property and equipment, net	$ 1,588,059		$ 1,588,059		$ 1,436,087
Govermment | Revenue Benchmark | Customer Concentration Risk
Segments and Related Information [Line Items]
Concentration risk, percentage of total	6%	5%	7%	5%
United States
Segments and Related Information [Line Items]
Revenue	$ 2,500,000	$ 2,400,000	$ 6,600,000	$ 6,000,000
Property and equipment, net	1,600,000		1,600,000		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	49,400	$ 40,800	125,200	$ 120,700
Property and equipment, net	22,100		22,100		24,500
Intangible assets and goodwill, net	$ 36,700		$ 36,700		$ 43,800
Foreign Operations | Accounts Receivable, Net, Less Deferred Revenue | Geographic Concentration Risk
Segments and Related Information [Line Items]
Concentration risk, percentage of total			1%		2%

Segments and Related Informat_7

Segments and Related Information - Significant Customers - Narrative (Details)	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021
Revenue Benchmark | Enbridge, Inc. | Customer Concentration Risk
Segments and Related Information [Line Items]
Concentration risk, percentage of total	21%	19%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2022	Dec. 31, 2021
Loss Contingencies [Line Items]
Other current assets		$ 129,262	$ 81,884
Settled Litigation
Loss Contingencies [Line Items]
Settlement amount	$ 25,000
Other current assets		$ 6,000
Other income related to settlements	$ 5,000

Commitments and Contingencies_2

Commitments and Contingencies - Letters of Credit, Bonds, Self-Insurance, Multiemployer Plans, Indemnities - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended
	Oct. 31, 2022	Sep. 30, 2022	Dec. 31, 2021
Commitments and Contingencies [Line Items]
Letters of credit issued		$ 162,400	$ 188,500
Cash		95,676	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 | Subsequent Event
Commitments and Contingencies [Line Items]
Payments to settle withrawal liability	$ 2,800
Pension | HMG
Commitments and Contingencies [Line Items]
Quarterly benefit payment		74
Corporate Joint Venture
Commitments and Contingencies [Line Items]
Cash		15,100	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		178,800	189,800
Self-Insurance | Workers' Compensation, General and Automobile Policies | Other Long-Term Liabilities
Commitments and Contingencies [Line Items]
Self-insurance reserve, non-current		107,400	126,500
Self-Insurance | Employee Group Medical Claims
Commitments and Contingencies [Line Items]
Self-insurance reserve		4,200
Performance and Payment Bonds
Commitments and Contingencies [Line Items]
Bonded projects, estimated costs to complete		775,000	768,800
Performance and Payment Bonds | Subsidiaries
Commitments and Contingencies [Line Items]
Outstanding bonds, amount		2,351,700	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		103,000	125,700
Surety Bonds | Self-Insurance | Workers' Compensation
Commitments and Contingencies [Line Items]
Outstanding bonds, amount		$ 110,900	$ 52,900

Commitments and Contingencies_3

Commitments and Contingencies - Investment Arrangements (Details) $ in Thousands	Sep. 30, 2022 USD ($) constructionProject	Dec. 31, 2021 USD ($)
Other Commitments [Line Items]
Number of joint ventures | constructionProject	3
Cash	$ 95,676	$ 360,736
Proportionately Consolidated Non-Controlled Joint Venture
Other Commitments [Line Items]
Cash	$ 15,100	$ 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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Concentration Risk [Line Items]
Number of customers			1,290
Revenue | Customer Concentration Risk | Ten Largest Customers
Concentration Risk [Line Items]
Concentration risk, percentage of total	41%	58%	42%	56%

Related Party Transactions (Det

Related Party Transactions (Details)	1 Months Ended	3 Months Ended		9 Months Ended
	Jun. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) employee	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) employee	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020
Related Party Transaction [Line Items]
Equity investments, carrying value		$ 300,000,000		$ 300,000,000		$ 267,000,000
Line of credit facility, letters of credit issued		162,400,000		162,400,000		188,500,000
Noncontrolling interest, percentage of voting interests acquired	15%
Proceeds from non-controlling interests	$ 6,800,000
2021 Acquisition, Acquisition Three
Related Party Transaction [Line Items]
Equity investments, carrying value		2,000,000		2,000,000		500,000
Community Condotte DeMoya JV, LLC
Related Party Transaction [Line Items]
Equity method investments, ownership percentage							25%
Equity method investments, equity contributions		100,000		600,000
Negative equity method investment		1,200,000		1,200,000		1,600,000
Management | Equipment, Supplies and Services
Related Party Transaction [Line Items]
Payments, related party		8,000,000	$ 20,700,000	22,700,000	$ 71,800,000
Payables, related party		2,500,000		2,500,000		600,000
Revenue, related party		2,400,000	800,000	7,400,000	2,900,000
Receivables, net, related party		2,200,000		2,200,000		400,000
Management | Subcontracting Arrangements
Related Party Transaction [Line Items]
Payments, related party		100,000	41,100,000	200,000	86,900,000
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		400,000		900,000
Payables, related party		400,000		400,000
Revenue, related party		38,000,000		98,700,000
Receivables, net, related party		36,600,000		36,600,000		0
Management | Subcontracting Arrangements | 2020 Acquisitions
Related Party Transaction [Line Items]
Receivables, net, related party		600,000		600,000		400,000
Charges, related party		200,000	200,000	600,000	600,000
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		1,100,000		1,100,000		800,000
Revenue, related party		200,000		200,000
Receivables, net, related party		100,000		100,000		0
Payments, net of rebates, related party		1,100,000	8,000,000	2,900,000	18,600,000
Chairman, Board of Directors
Related Party Transaction [Line Items]
Payments for life insurance policies		600,000	600,000	1,100,000	1,100,000
Chairman, Board of Directors | Lease Agreements
Related Party Transaction [Line Items]
Payments, related party		700,000	600,000	1,900,000	1,900,000
Executive Officers
Related Party Transaction [Line Items]
Life insurance assets, carrying amount		25,800,000		25,800,000		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	900,000	900,000
Executive Officers | Construction Services
Related Party Transaction [Line Items]
Payments, related party		100,000	100,000	400,000	300,000
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		$ 0	$ 0	$ 700,000	$ 700,000