0000015615-21-000006 | 10-K | XBRL Viewer

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Components of Income before Income Taxes

The components of income before income taxes for the periods indicated were as follows (in millions):


	For the Years Ended December 31,
	2020		2019		2018
Domestic	$	435.9	$	452.2	$	341.1
Foreign	(10.7)		58.7		24.2
Total	$	425.2	$	510.9	$	365.3

Schedule of Provision for Income Taxes

The provision for income taxes for the periods indicated were as follows (in millions):


	For the Years Ended December 31,
	2020		2019		2018
Current:
Federal	$	70.6	$	77.4	$	26.7
Foreign	2.1		6.2		9.4
State and local	22.6		15.6		10.5
	$	95.3	$	99.2	$	46.6
Deferred:
Federal	$	14.8	$	22.4	$	43.9
Foreign	(9.8)		(2.8)		3.3
State and local	2.2		(2.0)		12.3
	$	7.2	$	17.6	$	59.5
Provision for income taxes	$	102.5	$	116.8	$	106.1

Schedule of Deferred Tax Assets and Liabilities

The tax effects of significant items comprising the Company’s net deferred tax liability as of the dates indicated were as follows (in millions):


	December 31,
	2020		2019
Deferred tax assets:
Accrued insurance	$	31.1	$	28.6
Operating loss carryforwards and tax credits	82.1		70.5
Compensation and benefits	32.8		16.8
Bad debt	3.7		0.9

Other	12.3		11.5
Valuation allowance	(45.8)		(48.8)
Total deferred tax assets	$	116.2	$	79.5
Deferred tax liabilities:
Property and equipment	$	205.0	$	179.5
Goodwill	58.7		49.6
Other intangible assets	30.7		35.0
Gain on remeasurement of equity investee	7.0		7.0
Revenue recognition	22.4		20.6
Investments in unconsolidated entities	79.8		74.0
Other	15.5		10.1
Total deferred tax liabilities	$	419.1	$	375.8
Net deferred tax liabilities	$	(302.9)	$	(296.3)

Schedule of Effective Tax Rate Reconciliation

A reconciliation of the U.S. statutory federal income tax rate related to pretax income to the effective tax rate for the periods indicated is as follows:


	For the Years Ended December 31,
	2020		2019		2018
U.S. statutory federal rate applied to pretax income	21.0	%	21.0	%	21.0	%
State and local income taxes, net of federal benefit	4.3		3.2		4.2
Foreign tax rate differential	(0.2)		0.2		1.5
Non-deductible expenses	1.5		1.7		1.7
Goodwill and intangible assets	(0.2)		(0.5)		3.6
Change in tax rate	0.6		(1.5)		(2.8)
Other	(0.6)		(1.0)		(2.4)
Tax credits	(1.2)		(0.6)		(0.4)
Stock basis adjustment	0.0		(1.8)		0.0
Valuation allowance for deferred tax assets	(1.1)		2.2		2.6
Effective income tax rate	24.1	%	22.9	%	29.0	%

Rollforward of Uncertain Tax Positions

A reconciliation of the beginning and ending amount of uncertain tax positions including interest and penalties is as follows (in millions):


	For the Years Ended December 31,
	2020		2019		2018
Beginning balance	$	13.5	$	9.4	$	8.1
Additions based on tax positions related to the current year	1.5		3.7		2.7
Additions for tax positions of prior years	3.4		0.7		—
Reductions for tax positions of prior years	—		(0.3)		(1.4)
Ending balance	$	18.4	$	13.5	$	9.4

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
Revenue	$ 6,320,975	$ 7,183,188	$ 6,909,417
Costs of revenue, excluding depreciation and amortization	5,270,879	6,070,244	5,939,308
Depreciation	258,841	212,485	192,332
Amortization of intangible assets	38,910	22,997	20,598
Goodwill and intangible asset impairment	0	3,319	47,662
General and administrative expenses	319,192	299,500	287,278
Interest expense, net	59,629	77,026	82,571
Equity in earnings of unconsolidated affiliates	(29,738)	(27,367)	(23,855)
Loss on extinguishment of debt	5,569	0	0
Other (income) expense, net	(27,471)	14,045	(1,780)
Income before income taxes	425,164	510,939	365,303
Provision for income taxes	(102,465)	(116,843)	(106,072)
Net income	322,699	394,096	259,231
Net (loss) income attributable to non-controlling interests	(149)	1,762	(428)
Net income attributable to MasTec, Inc.	$ 322,848	$ 392,334	$ 259,659
Earnings per share (Note 2):
Basic earnings per share (in dollars per share)	$ 4.43	$ 5.22	$ 3.30
Basic weighted average common shares outstanding	72,799	75,185	78,695
Diluted earnings per share (in dollars per share)	$ 4.38	$ 5.17	$ 3.26
Diluted weighted average common shares outstanding	73,715	75,846	79,772

Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Cumulative effect of adoption, revenue recognition (Topic 606)	Common Stock [Member]	Treasury Stock [Member]	Capital Surplus [Member]	Retained Earnings [Member]	Retained Earnings [Member] Cumulative effect of adoption, revenue recognition (Topic 606)	Accumulated Other Comprehensive Loss [Member]	Total MasTec, Inc. Shareholders’ Equity [Member]	Total MasTec, Inc. Shareholders’ Equity [Member] Cumulative effect of adoption, revenue recognition (Topic 606)	Non-Controlling Interests [Member]
Beginning balance, common shares outstanding (in shares) at Dec. 31, 2017			90,935,584
Beginning balance at Dec. 31, 2017	$ 1,433,353	$ 1,562	$ 9,094	$ (147,124)	$ 775,387	$ 857,154	$ 1,562	$ (63,712)	$ 1,430,799	$ 1,562	$ 2,554
Beginning balance, treasury shares (in shares) at Dec. 31, 2017				(8,132,811)
Consolidated Statements of Equity
Net income (loss)	259,231					259,659			259,659		(428)
Other comprehensive income (loss)	3,218							3,218	3,218
Non-cash stock-based compensation	13,527				13,527				13,527
Issuance of restricted shares, net (in shares)			385,392
Issuance of restricted shares, net	0		$ 39		(39)				0
Other stock issuances, net of shares withheld for taxes (in shares)			6,033
Other stock issuances, net of shares withheld for taxes	$ 134		$ 0		134				134
Acquisition of treasury stock, at cost (in shares)	(7,200,000)			(7,197,006)
Acquisition of treasury stock, at cost	$ (319,001)			$ (319,001)					(319,001)
Ending balance, common shares outstanding (in shares) at Dec. 31, 2018			91,327,009
Ending balance at Dec. 31, 2018	$ 1,392,024		$ 9,133	$ (466,125)	789,009	1,118,375		(60,494)	1,389,898		2,126
Ending balance, treasury shares (in shares) at Dec. 31, 2018				(15,329,817)
Consolidated Statements of Equity
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201409Member
Net income (loss)	$ 394,096					392,334			392,334		1,762
Other comprehensive income (loss)	(15,212)							(15,212)	(15,212)
Non-cash stock-based compensation	16,447				16,447				16,447
Issuance of restricted shares, net (in shares)			464,970
Issuance of restricted shares, net	0		$ 46		(46)				0
Other stock issuances, net of shares withheld for taxes (in shares)			117,451
Other stock issuances, net of shares withheld for taxes	4,355		$ 12		4,343				4,355
Acquisition of treasury stock, at cost (in shares)				(15,100)
Acquisition of treasury stock, at cost	(602)			$ (602)					(602)
Contributions from non-controlling interests	$ 583								0		583
Ending balance, common shares outstanding (in shares) at Dec. 31, 2019	91,909,430		91,909,430
Ending balance at Dec. 31, 2019	$ 1,791,691		$ 9,191	$ (466,727)	809,753	1,510,709		(75,706)	1,787,220		4,471
Ending balance, treasury shares (in shares) at Dec. 31, 2019	(15,344,917)			(15,344,917)
Consolidated Statements of Equity
Net income (loss)	$ 322,699					322,848			322,848		(149)
Other comprehensive income (loss)	(15,738)							(15,738)	(15,738)
Non-cash stock-based compensation	21,875				21,875				21,875
Issuance of restricted shares, net (in shares)			993,893
Issuance of restricted shares, net	0		$ 99		(99)				0
Other stock issuances, net of shares withheld for taxes (in shares)			204,117
Other stock issuances, net of shares withheld for taxes	$ 5,945		$ 21		5,924				5,945
Acquisition of treasury stock, at cost (in shares)	(3,600,000)			(3,597,009)
Acquisition of treasury stock, at cost	$ (120,228)			$ (120,228)					(120,228)
Distributions to non-controlling interests	$ (719)								0		(719)
Ending balance, common shares outstanding (in shares) at Dec. 31, 2020	93,107,440		93,107,440
Ending balance at Dec. 31, 2020	$ 2,005,525		$ 9,311	$ (586,955)	$ 837,453	$ 1,833,557		$ (91,444)	$ 2,001,922		$ 3,603
Ending balance, treasury shares (in shares) at Dec. 31, 2020	(18,941,926)			(18,941,926)

Goodwill and Other Intangible Assets Goodwill (Schedule of Consideration Paid and Net Assets Acquired, Business Combinations, 2019 Acquisitions) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Acquisition consideration:
Cash, net of cash acquired and other	$ 24,971	$ 179,481	$ 6,684
Identifiable assets acquired and liabilities assumed:
Goodwill	1,243,034	$ 1,221,440	$ 1,100,400
2019 Acquisitions [Member]
Acquisition consideration:
Cash, net of cash acquired and other	176,400
Estimated fair value of contingent consideration and other liabilities	40,100
Total consideration transferred	216,500
Identifiable assets acquired and liabilities assumed:
Current assets, primarily composed of accounts receivable	92,600
Property and equipment, including finance leases and other long-term assets	56,100
Amortizing intangible assets	65,900
Current liabilities, including current portion of finance lease obligations and long-term debt	(89,000)
Long-term debt, including finance lease obligations	(2,400)
Deferred income taxes and other long-term liabilities	(27,500)
Total identifiable net assets	95,700
Goodwill	120,800
Total net assets acquired, including goodwill	$ 216,500

Lease Obligations (Finance Leases) (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Finance leases, assets, gross	$ 563.0	$ 463.5
Finance leases, assets, net	418.7	375.9
Finance leases, assets, depreciation	$ 68.0	$ 48.6

Earnings Per Share

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Earnings Per Share

Note 2 – Earnings Per Share

Basic earnings or loss 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 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 Years Ended December 31,
	2020		2019		2018
Net income attributable to MasTec:
Net income - basic and diluted (a)	$	322,848	$	392,334	$	259,659
Weighted average shares outstanding:
Weighted average shares outstanding - basic	72,799		75,185		78,695
Dilutive common stock equivalents (b)	916		661		1,077
Weighted average shares outstanding - diluted	73,715		75,846		79,772

(a) Calculated as total net income less amounts attributable to non-controlling interests.

(b) For the year ended December 31, 2020, there were 43,989 anti-dilutive common stock equivalents, and for the years ended December 31, 2019 and 2018, anti-dilutive common stock equivalents were de minimis.

The Company repurchased approximately 3.6 million shares of its common stock during the year ended December 31, 2020, as discussed in Note 11 - Equity. The effect of these repurchases on the Company’s weighted average shares outstanding for the year ended December 31, 2020 was a reduction of approximately 2.9 million shares, due to the timing of the repurchases. The effect of shares repurchased in 2018 on the Company’s weighted average shares outstanding for the years ended December 31, 2019 and 2018 was a reduction of 4.4 million shares and 2.8 million shares, respectively.

Debt (Schedule of Carrying Values of Debt) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Finance lease and other obligations	$ 288,500	$ 305,600
Total debt obligations	1,318,700	1,444,800
Less unamortized deferred financing costs	(16,000)	(12,400)
Total debt, net of deferred financing costs	1,302,700	1,432,400
Current portion of long-term debt	145,110	118,429
Long-term debt	$ 1,157,632	1,314,030
Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility, maturity date	Sep. 19, 2024
Credit Facility [Member] \| Revolving Loans [Member]
Debt Instrument [Line Items]
Long-term debt obligations	$ 32,700	339,200
Credit Facility [Member] \| Term Loan [Member]
Debt Instrument [Line Items]
Long-term debt obligations	397,500	400,000
Senior Notes [Member] \| 4.875% Senior Notes [Member]
Debt Instrument [Line Items]
Long-term debt obligations	$ 0	400,000
Debt instrument, interest rate (percentage)	4.875%
Debt instrument, maturity date	Mar. 15, 2023
Senior Notes [Member] \| 4.50% Senior Notes [Member]
Debt Instrument [Line Items]
Long-term debt obligations	$ 600,000	$ 0
Debt instrument, interest rate (percentage)	4.50%
Debt instrument, maturity date	Aug. 15, 2028

Stock-Based Compensation and Other Employee Benefit Plans (Restricted Shares) (Narrative) (Details) - USD ($) $ in Millions		12 Months Ended
	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restricted Shares [Member]
Stock-Based Compensation and Other Employee Benefit Plans [Line Items]
Stock-based compensation awards, unearned compensation	$ 37.9	$ 37.9
Stock-based compensation awards, unearned compensation, weighted average expected recognition period (in years)	2 years 1 month 6 days
Stock-based compensation, vested awards, intrinsic value		$ 16.8	$ 25.0	$ 16.6
Unvested stock awards (in shares)	1,845,341	1,845,341	1,221,593	1,270,233
Restricted Stock Units [Member]
Stock-Based Compensation and Other Employee Benefit Plans [Line Items]
Unvested stock awards (in shares)	2,300	2,300	0	18,700

Goodwill and Other Intangible Assets (Schedule of Expected Future Amortization Expense) (Details) $ in Millions	Dec. 31, 2020 USD ($)
Amortization Expense
Intangible assets, expected future amortization expense, 2021	$ 31.7
Intangible assets, expected future amortization expense, 2022	25.4
Intangible assets, expected future amortization expense, 2023	19.7
Intangible assets, expected future amortization expense, 2024	15.3
Intangible assets, expected future amortization expense, 2025	11.7
Intangible assets, expected future amortization expense, thereafter	45.7
Intangible assets, expected future amortization expense, total	$ 149.5

Stock-Based Compensation and Other Employee Benefit Plans

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Stock-Based Compensation and Other Employee Benefit Plans

Note 9 – Stock-Based Compensation and Other Employee Benefit Plans

The Company’s stock-based compensation plans, under which shares of the Company’s common stock are reserved for issuance, include: the MasTec, Inc. 2013 Incentive Compensation Plan (as amended from time to time, the “2013 Incentive Plan”), the MasTec, Inc. Amended and Restated Bargaining Units Employee Stock Purchase Plan (the “2013 Bargaining Units ESPP”) and the MasTec, Inc. 2011 Amended and Restated Employee Stock Purchase Plan (the “2011 ESPP,” and, together with the 2013 Bargaining Units ESPP, the “ESPPs”). The 2013 Incentive Plan permits a total of approximately 7,391,000 shares of the Company’s common stock to be issued. Under the Company’s ESPPs, shares of the Company’s common stock are available for purchase by eligible participants, which collectively permit the issuance of up to 3,000,000 new shares of MasTec, Inc. common stock. Under all stock-based compensation plans in effect as of December 31, 2020, there were approximately 2,665,000 shares available for future grant.

Non-cash stock-based compensation expense under all plans totaled $21.9 million, $16.4 million and $13.5 million for the years ended December 31, 2020, 2019 and 2018, respectively. Income tax benefits associated with stock-based compensation arrangements totaled $5.7 million, $7.9 million and $4.9 million for the years ended December 31, 2020, 2019 and 2018, respectively, including net tax benefits related to the vesting of share-based payment awards totaling $0.5 million, $3.9 million and $1.6 million for the years ended December 31, 2020, 2019 and 2018, 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 December 31, 2020, total unearned compensation related to restricted shares was approximately $37.9 million, which is expected to be recognized over a weighted average period of approximately 2.1 years. The fair value of restricted shares that vested, which is based on the market price on the date of vesting, totaled $16.8 million, $25.0 million and $16.6 million for the years ended December 31, 2020, 2019 and 2018, respectively.


Activity, restricted shares: (a)	Restricted Shares	Per Share Weighted Average Grant Date Fair Value
Non-vested restricted shares, as of December 31, 2018	1,270,233	$	31.80
Granted	458,670	53.67
Vested	(494,910)	18.54
Canceled/forfeited	(12,400)	33.87
Non-vested restricted shares, as of December 31, 2019	1,221,593	$	45.36
Granted	1,246,583	30.77
Vested	(372,445)	39.88
Canceled/forfeited	(250,390)	57.95
Non-vested restricted shares, as of December 31, 2020	1,845,341	$	34.90

(a) Includes 2,300 restricted stock units as of December 31, 2020. There were no restricted stock units as of December 31, 2019, and there were 18,700 restricted stock units as of December 31, 2018.

Employee Stock Purchase Plans

The following table provides details pertaining to the Company’s ESPPs for the periods indicated:


	For the Years Ended December 31,
	2020		2019		2018
Cash proceeds (in millions)	$	7.1	$	4.7	$	4.2
Common shares issued	239,322		111,136		110,506
Weighted average price per share	$	29.61	$	42.46	$	37.98
Weighted average per share grant date fair value	$	9.08	$	10.71	$	9.36

401(k) Plan. MasTec has a 401(k) plan covering all eligible employees, which allows participants to contribute up to 75% of their pre-tax annual compensation to the plan, subject to certain limitations. Company contributions under the plan are based upon a percentage of the employee’s salary, subject to certain limitations as defined by the plan. During the years ended December 31, 2020, 2019 and 2018, matching contributions totaled approximately $19.3 million, $16.5 million and $13.4 million, respectively.

Deferred Compensation Plans. MasTec offers a deferred compensation plan to its highly compensated employees. These employees are allowed to contribute a percentage of their pre-tax annual compensation to the deferred compensation plan. The Company also offers a deferred compensation plan to its Board of Directors, under which directors may elect to defer the receipt of compensation for their services. Total deferred compensation plan assets, which are included within other long-term assets in the consolidated balance sheets, totaled $14.1 million and $11.9 million as of December 31, 2020 and 2019, respectively. Total deferred compensation plan liabilities, which are included within other long-term liabilities in the consolidated balance sheets, totaled $15.0 million and $12.3 million as of December 31, 2020 and 2019, respectively.

Property and Equipment, Net (Schedule of Property and Equipment, Net) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Property and Equipment [Line Items]
Property and equipment	$ 2,169,700	$ 1,923,500
Less accumulated depreciation and amortization	(1,187,400)	(1,017,700)
Property and equipment, net	982,328	905,835
Land [Member]
Property and Equipment [Line Items]
Property and equipment	6,000	4,900
Building and Leasehold Improvements [Member]
Property and Equipment [Line Items]
Property and equipment	$ 40,500	35,800
Building and Leasehold Improvements [Member] \| Minimum [Member]
Property and Equipment [Line Items]
Estimated useful lives (in years)	3 years
Building and Leasehold Improvements [Member] \| Maximum [Member]
Property and Equipment [Line Items]
Estimated useful lives (in years)	40 years
Machinery and Equipment [Member]
Property and Equipment [Line Items]
Property and equipment	$ 1,875,500	1,659,400
Machinery and Equipment [Member] \| Minimum [Member]
Property and Equipment [Line Items]
Estimated useful lives (in years)	2 years
Machinery and Equipment [Member] \| Maximum [Member]
Property and Equipment [Line Items]
Estimated useful lives (in years)	20 years
Office Furniture and Equipment [Member]
Property and Equipment [Line Items]
Property and equipment	$ 221,600	197,300
Office Furniture and Equipment [Member] \| Minimum [Member]
Property and Equipment [Line Items]
Estimated useful lives (in years)	3 years
Office Furniture and Equipment [Member] \| Maximum [Member]
Property and Equipment [Line Items]
Estimated useful lives (in years)	7 years
Construction in Progress [Member]
Property and Equipment [Line Items]
Property and equipment	$ 26,100	$ 26,100

Other Retirement Plans (Schedule of Covered Employees and Contributions, Multiemployer Plans) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020 USD ($) numberOfEmployees	Dec. 31, 2019 USD ($) numberOfEmployees	Dec. 31, 2018 USD ($) numberOfEmployees
Covered Employees and Contributions, Multiemployer Plans [Line Items]
Multiemployer pension plans, contributions (in dollars)	$ 37.5	$ 72.6	$ 99.7
Low [Member]
Covered Employees and Contributions, Multiemployer Plans [Line Items]
Multiemployer plans, covered employees (in numberof employees) \| numberOfEmployees	1,119	1,119	1,626
High [Member]
Covered Employees and Contributions, Multiemployer Plans [Line Items]
Multiemployer plans, covered employees (in numberof employees) \| numberOfEmployees	2,412	5,349	6,336
Pension Plans [Member]
Covered Employees and Contributions, Multiemployer Plans [Line Items]
Multiemployer pension plans, contributions (in dollars)	$ 30.0	$ 66.9	$ 92.4
Other Multiemployer Plans [Member]
Covered Employees and Contributions, Multiemployer Plans [Line Items]
Multiemployer pension plans, contributions (in dollars)	$ 7.5	$ 5.7	$ 7.3

Income Taxes (Schedule of Provision for Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current:
Federal	$ 70,600	$ 77,400	$ 26,700
Foreign	2,100	6,200	9,400
State and local	22,600	15,600	10,500
Total current income tax expense	95,300	99,200	46,600
Deferred:
Federal	14,800	22,400	43,900
Foreign	(9,800)	(2,800)	3,300
State and local	2,200	(2,000)	12,300
Total deferred income tax expense	7,180	22,160	56,209
Provision for income taxes	102,465	116,843	106,072
Continuing Operations [Member]
Deferred:
Total deferred income tax expense	$ 7,200	$ 17,600	$ 59,500

Stock-Based Compensation and Other Employee Benefit Plans (401(k) Plan) (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Contribution Plan [Abstract]
401(k) plan, maximum pre-tax annual contribution per employee, percentage of annual compensation	75.00%
401(k) plan, employer matching contribution (in dollars)	$ 19.3	$ 16.5	$ 13.4

Quarterly Information (Unaudited) (Schedule of Quarterly Financial Information (Unaudited)) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Selected Quarterly Financial Information [Abstract]
Revenue	$ 1,636,800	$ 1,698,300	$ 1,569,300	$ 1,416,600	$ 1,709,300	$ 2,016,600	$ 1,939,000	$ 1,518,300	$ 6,320,975	$ 7,183,188	$ 6,909,417
Costs of revenue, excluding depreciation and amortization	1,322,200	1,380,500	1,341,800	1,226,300	1,434,200	1,690,600	1,633,400	1,312,000	5,270,879	6,070,244	5,939,308
Net income	112,900	116,900	56,800	36,100	100,700	130,100	120,200	43,100	322,699	394,096	259,231
Net income attributable to MasTec, Inc.	$ 113,100	$ 116,500	$ 57,000	$ 36,200	$ 100,900	$ 128,600	$ 119,700	$ 43,100	$ 322,848	$ 392,334	$ 259,659
Earnings per share:
Basic (in dollars per share)	$ 1.56	$ 1.61	$ 0.79	$ 0.48	$ 1.34	$ 1.71	$ 1.59	$ 0.57	$ 4.43	$ 5.22	$ 3.30
Diluted (in dollars per share)	$ 1.54	$ 1.59	$ 0.78	$ 0.48	$ 1.33	$ 1.69	$ 1.58	$ 0.57	$ 4.38	$ 5.17	$ 3.26

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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-Subparagraph (SX 210.5-03(1))
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+ Details

Goodwill and Other Intangible Assets (2018 Acquisitions) (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Business Combinations [Line Items]
Cash, net of cash acquired	$ 24,971	$ 179,481	$ 6,684
Business combinations, contingent consideration liabilities, range of potential undiscounted earn-out liabilities, high	179,000
2018 Acquisitions [Member]
Business Combinations [Line Items]
Cash, net of cash acquired	5,100
Business combinations, contingent consideration, earn-out liabilities	1,500
Business combinations, contingent consideration liabilities, range of potential undiscounted earn-out liabilities, high	$ 4,000

Debt (Senior Secured Credit Facility) (Narrative) (Details) - USD ($) $ in Millions			1 Months Ended		12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2020
Debt Instrument [Line Items]
Line of credit facility, letters of credit issued	$ 151.8	$ 115.1		$ 151.8	$ 151.8
Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 1,750.0			1,750.0	1,750.0
Line of credit facility, unused facility fee (percentage)	0.20%	0.20%
Line of credit facility, letters of credit issued	$ 133.6	$ 98.0		133.6	133.6
Credit Facility [Member] \| Eurocurrency Rate [Member]
Debt Instrument [Line Items]
Line of credit facility, interest rate description	1.00%
Credit Facility [Member] \| Federal Funds Rate [Member]
Debt Instrument [Line Items]
Line of credit facility, interest rate description	0.50%
Credit Facility [Member] \| Plan [Member]
Debt Instrument [Line Items]
Permitted acquisitions amount					100.0
Credit Facility [Member] \| Revolving Loans [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 1,350.0			1,350.0	1,350.0
Line of credit facility, remaining borrowing capacity	1,200.0	$ 900.0		1,200.0	1,200.0
Credit Facility [Member] \| Term Loan [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 400.0			400.0	$ 400.0
Line of credit facility, term loan, amount of quarterly principal installment payments				$ 2.5
Line of credit facility, interest rate (percentage)	1.40%	3.05%		1.40%	1.40%
Credit Facility [Member] \| Term Loan [Member] \| Forecast [Member]
Debt Instrument [Line Items]
Line of credit facility, term loan, amount of quarterly principal installment payments			$ 5.0
Credit Facility [Member] \| Sublimit in Foreign Denominations [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 300.0			$ 300.0	$ 300.0
Long-term line of credit	33.0	$ 138.0		33.0	33.0
Line of credit facility, remaining borrowing capacity	267.3	162.4		267.3	267.3
Credit Facility [Member] \| Letters of Credit [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	650.0			650.0	650.0
Line of credit facility, capacity available for letters of credit	$ 516.4	$ 552.0		$ 516.4	$ 516.4
Credit Facility [Member] \| Letters of Credit [Member] \| Commercial and/or Financial Standby [Member]
Debt Instrument [Line Items]
Line of credit facility, interest rate (percentage)	1.25%	1.25%		1.25%	1.25%
Credit Facility [Member] \| Letters of Credit [Member] \| Performance Standby [Member]
Debt Instrument [Line Items]
Line of credit facility, interest rate (percentage)	0.375%	0.375%		0.375%	0.375%
Credit Facility [Member] \| Letter of Credit in Alternative Currencies [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 200.0			$ 200.0	$ 200.0
Credit Facility [Member] \| Swing Line Loans [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 125.0			$ 125.0	$ 125.0
Minimum [Member] \| Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility, unused facility fee (percentage)	0.20%
Percentage of consolidated EBITDA threshold, combined subsidiary guarantors	15.00%			15.00%	15.00%
Consolidated interest coverage ratio	3.00			3.00	3.00
Minimum [Member] \| Credit Facility [Member] \| Eurocurrency Rate [Member]
Debt Instrument [Line Items]
Line of credit facility, interest rate description	1.25%
Minimum [Member] \| Credit Facility [Member] \| Base Rate [Member]
Debt Instrument [Line Items]
Line of credit facility, interest rate description	0.25%
Minimum [Member] \| Credit Facility [Member] \| Letters of Credit [Member] \| Commercial and/or Financial Standby [Member]
Debt Instrument [Line Items]
Line of credit facility, interest rate (percentage)	1.25%			1.25%	1.25%
Minimum [Member] \| Credit Facility [Member] \| Letters of Credit [Member] \| Performance Standby [Member]
Debt Instrument [Line Items]
Line of credit facility, interest rate (percentage)	0.375%			0.375%	0.375%
Maximum [Member] \| Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility, unused facility fee (percentage)	0.30%
Percentage of consolidated EBITDA threshold, combined subsidiary guarantors	80.00%			80.00%	80.00%
Maximum consolidated leverage ratio	3.50			3.50	3.50
Maximum [Member] \| Credit Facility [Member] \| Eurocurrency Rate [Member]
Debt Instrument [Line Items]
Line of credit facility, interest rate description	1.75%
Maximum [Member] \| Credit Facility [Member] \| Base Rate [Member]
Debt Instrument [Line Items]
Line of credit facility, interest rate description	0.75%
Maximum [Member] \| Credit Facility [Member] \| Plan [Member] \| Permitted Acquisition [Member]
Debt Instrument [Line Items]
Maximum consolidated leverage ratio	4.00			4.00	4.00
Number of fiscal quarters subsequent to quarter in which right was exercised	4			4	4
Number of times right may be exercised	2			2	2
Maximum [Member] \| Credit Facility [Member] \| Letters of Credit [Member] \| Commercial and/or Financial Standby [Member]
Debt Instrument [Line Items]
Line of credit facility, interest rate (percentage)	1.75%			1.75%	1.75%
Maximum [Member] \| Credit Facility [Member] \| Letters of Credit [Member] \| Performance Standby [Member]
Debt Instrument [Line Items]
Line of credit facility, interest rate (percentage)	0.75%			0.75%	0.75%
Weighted Average [Member] \| Credit Facility [Member] \| Revolving Loans [Member]
Debt Instrument [Line Items]
Line of credit facility, interest rate (percentage)	1.87%	3.50%		1.87%	1.87%

Business, Basis of Presentation and Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Principles of Consolidation	Principles of ConsolidationThe 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 liabilities. Net income or loss attributable to non-controlling interests is reported as a separate line item below net income or loss. The Company’s investments in entities for which the Company does not have a controlling interest, but over which it has the ability to exert significant influence, are accounted for using the equity method of accounting. 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.
COVID-19 Disclosure	COVID-19 Pandemic The World Health Organization declared a global pandemic related to the rapidly growing outbreak of a novel strain of coronavirus in the first quarter of 2020. The COVID-19 pandemic has disrupted business activities and significantly affected global economic conditions as federal, state and local governments imposed mitigation measures to address the public health crisis, resulting in workforce, supply chain and production disruptions, the effects of which have created significant uncertainties in the U.S. and global economies. Restrictions have been enacted, lifted, and reenacted during 2020 and into 2021, and the possibility of future restrictions remains. Most of the Company’s construction services have been deemed essential under state and local pandemic mitigation orders, and all of its business segments continue to operate. The Company’s customers have generally directed the Company to maintain normal work schedules, where safe and possible. The Company’s business model has, thus far, proven resilient, and management continues to make efforts to adapt to the changing operational and economic environment resulting from the COVID-19 pandemic. Management’s top priority has been to take appropriate actions to protect the health and safety of its employees, customers and business partners, including adjusting its standard operating procedures to respond to evolving health guidelines. The COVID-19 pandemic has had a negative impact on the Company’s operations and is expected to continue to affect our future business activities for an unknown period of time. These impacts include lost productivity from governmental permitting approval delays, reduced crew productivity due to social distancing, other mitigation measures or other factors, the health and availability of work crews or other key personnel, including subcontractors or supply chain disruptions, and/or delayed project start dates or project shutdowns or cancellations that may be mandated or requested by governmental authorities or others, all of which could result in lower revenue or higher operating costs and/or create lower levels of overhead cost absorption. The CARES Act was signed into law in March 2020 in response to the COVID-19 pandemic. The CARES Act provides for various tax relief and incentive measures, including provisions permitting the deferral and/or reduction of certain federal and payroll tax amounts. The Company has pursued certain of these relief provisions. For the year ended December 31, 2020, approximately $59 million of payroll taxes have been deferred, of which half are due by December 31, 2021, with the remainder due by December 31, 2022. Additionally, the Coronavirus Response and Relief Supplemental Appropriations Act (the “Coronavirus Relief Act”), which provides certain additional COVID-19 relief measures, was signed into law in December 2020. The Company will continue to evaluate the potential effects of the CARES Act, along with any potential effects of the Coronavirus Relief Act, on its financial position, results of operations and cash flows and will continue to monitor all other available federal and other COVID-19 relief provisions to determine its qualification for, and the usefulness to the Company, of any such relief measures. Management believes that it is taking appropriate steps to mitigate any potential impact to the Company; however, given the uncertainty regarding the potential effects of the COVID-19 pandemic, which will depend upon numerous evolving factors that we may not be able to accurately predict, including the development and availability of effective treatments and vaccines and the speed with which they are administered to the public and the length and extent of the economic and market disruption, any future impacts cannot be quantified or predicted with specificity.
Reclassifications	When necessary, certain prior year amounts have been reclassified to conform with the current period presentation.
Translation of Foreign Currencies	Translation of Foreign CurrenciesThe 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. 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 the COVID-19 pandemic and other relevant global events. 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 and intangible assets, acquisition-related contingent consideration and other liabilities, equity investments and other long-lived assets; allowances for credit losses; asset lives used in computing depreciation and amortization; fair values of financial instruments; self-insurance liabilities; other accruals and allowances; income taxes; and the estimated effects of litigation and other contingencies.
Revenue Recognition	Revenue Recognition The Company recognizes revenue from contracts with customers under Accounting Standards Codification (“ASC”) Topic 606 (“Topic 606”). Under Topic 606, revenue is recognized when, or as, control of promised goods and services is transferred to customers, and the amount of revenue recognized reflects the consideration to which an entity expects to be entitled in exchange for the goods and services transferred. Revenue is primarily recognized by the Company over time utilizing the cost-to-cost measure of progress, which is an input method, on contracts for specific projects and for certain master service and other service agreements. Under Topic 606, the cost-to-cost measure of progress 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 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 36% of consolidated revenue for each of the years ended December 31, 2020 and 2019, and totaled 35% for the year ended December 31, 2018. Revenue from contracts for specific projects, as well as for certain projects pursuant to master and other service agreements, is typically recognized over time using the cost-to-cost measure of progress. For these contracts, the cost-to-cost measure of progress best depicts the continuous transfer of control of goods or services to the customer. Such contracts provide that the customer accept completion of progress to date and compensate the Company for services rendered. For certain master service and other service agreements under which the Company performs installation and maintenance services, primarily for install-to-the-home service providers in its Communications segment, revenue is recognized at a point in time. 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 5% of consolidated revenue for each of the years ended December 31, 2020 and 2019, and accounted for approximately 7% of consolidated revenue for the year ended December 31, 2018. Substantially all of the Company’s other revenue is recognized over time. Contract costs include all direct materials, labor and subcontracted costs, as well as indirect costs related to contract performance, such as indirect labor, supplies, tools, repairs and the operational costs of capital equipment. The total contract transaction price and cost estimation processes used for recognizing revenue over time under the cost-to-cost method is based on the professional knowledge and experience of the Company’s project managers, engineers and financial professionals. Management reviews estimates of total contract transaction price and total project costs on an ongoing basis. Changes in job performance, job conditions and management’s assessment of expected variable consideration are factors that influence estimates of the total contract transaction price, total costs to complete those contracts and the Company’s profit recognition. Changes in these factors could result in revisions to revenue in the period in which the revisions are determined, which could materially affect the Company’s consolidated results of operations for that period. Provisions for losses on uncompleted contracts are recorded in the period in which such losses are determined. For each of the years ended December 31, 2020, 2019 and 2018, 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, 2019, 2018 and 2017. Revenue recognized for the years ended December 31, 2020, 2019 and 2018 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, totaled approximately $13.5 million, $58.3 million and $38.5 million, respectively. The Company may incur certain costs that can be capitalized, such as initial set-up or mobilization costs. Such costs, which are amortized over the life of the respective projects, were $5.5 million as of December 31, 2020 and were not material as of December 31, 2019. The timing of customer billings is generally dependent upon advance billing terms, milestone billings based on completion of certain phases of work, or when services are provided. Under the typical payment terms of master and other service agreements and fixed price contracts, the customer makes progress payments based on quantifiable measures of performance by the Company as defined by each specific agreement. Progress payments, generally net of amounts retained, are paid by the customer over the duration of the contract. For install-to-the-home contracts, work orders are billed and paid as completed. Amounts billed and due from customers, as well as the amount of contract assets, are generally classified within current assets in the consolidated balance sheets. See Note 5 - Accounts Receivable, Net of Allowance, and Contract Assets and Liabilities for related discussion. Amounts expected to be collected beyond one year are classified as other long-term assets. Performance Obligations. A performance obligation is a contractual promise to transfer a distinct good or service to a customer, and is the unit of account under Topic 606. 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 Company’s contracts often require significant services to integrate complex activities and equipment into a single deliverable, and are therefore generally accounted for as a single performance obligation, even when delivering multiple distinct services. Contract amendments and change orders, which are generally not distinct from the existing contract, are typically accounted for as a modification of the existing contract and performance obligation. The vast majority of the Company’s performance obligations are completed within one year. When more than one contract is entered into with a customer on or close to the same date, the Company evaluates whether those contracts should be combined and accounted for as a single contract, as well as whether those contracts should be accounted for as one, or more than one, performance obligation. This evaluation requires significant judgment and is based on the facts and circumstances of the various contracts. 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 December 31, 2020, the amount of the Company’s remaining performance obligations was $5.0 billion. The Company expects to recognize approximately $4.6 billion of its remaining performance obligations as revenue during 2021, with the remainder to be recognized primarily in 2022. 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. Variable consideration is included in the estimated transaction price if it is probable that when the uncertainty associated with the variable consideration is resolved, there will not be a significant reversal of the cumulative amount of revenue that has been recognized. 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. The effect of variable consideration on the transaction price of a performance obligation is typically recognized as an adjustment to revenue on a cumulative catch-up basis, as such variable consideration, which typically pertains to changed conditions and scope, is generally for services encompassed under the existing contract. 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 December 31, 2020 and 2019, the Company included approximately $51 million and $27 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 December 31, 2020, these change orders and/or claims were primarily related to certain projects in the Company’s Electrical Transmission and Communications segments, and as of December 31, 2019, change orders were primarily related to certain projects in the Company’s Oil and Gas segment. 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.
Allowance for Credit Losses	Allowance for Credit Losses See “Recent Accounting Pronouncements” section below for information pertaining to the adoption of ASU 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments and its related clarifying ASUs (collectively, “ASU 2016-13”). The Company maintains an allowance for credit losses for its financial instruments, which are primarily composed of accounts receivable and contract assets. The measurement and recognition of credit losses involves the use of judgment and represents management’s estimate of expected lifetime credit losses based on historical experience and trends, current conditions and reasonable and supportable forecasts. Management’s assessment of expected credit losses includes consideration of current and expected economic, market and industry factors affecting the Company’s customers, including their financial condition, the aging of account balances, historical credit loss experience, customer concentrations, customer credit-worthiness, availability of mechanics’ and other liens, existence of payment bonds and other sources of payment. Management evaluates its experience with historical losses and then applies this historical loss ratio to financial assets with similar characteristics. The Company’s historical loss ratio or its determination of risk pools may be adjusted for changes in customer, economic, market or other circumstances. The Company may also establish an allowance for credit losses for specific receivables when it is probable that the receivable will not be collected and the loss can be reasonably estimated. Amounts are written off against the allowance when they are considered to be uncollectible, and reversals of previously reserved amounts are recognized if a specifically reserved item is settled for an amount exceeding the previous estimate. Estimates of expected credit losses could be affected by many factors, including, but not limited to: changes in credit loss experience, changes to the risk characteristics of the Company’s financial asset portfolio, developing trends, including changes in credit quality or unanticipated financial difficulties affecting the Company’s customers and changes in management’s expectations of future economic, industry or other conditions. In addition, if anticipated recoveries in existing bankruptcies or other work-out situations fail to materialize, additional allowances may be required. Estimates of collectibility are subject to significant change during times of economic weakness or uncertainty in either the overall economy or within the industries served by MasTec. Management actively monitors these factors and assesses the sufficiency of its allowance for credit losses on an ongoing basis, including any potential effects from the COVID-19 pandemic and/or volatility in the oil and gas markets on the credit quality of the Company’s customers and/or its financial assets.
Inventories	InventoriesInventories consist of materials and supplies for construction and installation projects, which are valued at the lower of cost or net realizable value using the average cost or specific identification methods of costing. For materials or supplies purchased on behalf of specific customers or projects, loss of the customer or cancellation of the project could result in an impairment of the value of materials purchased. The value of inventory may also decrease due to obsolescence, physical deterioration, damage, changes in price levels, or other causes. Inventory valuation allowances are determined based upon specific facts and circumstances and market conditions.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash consisting of interest-bearing demand deposits is carried at cost, which approximates fair value. Highly liquid investments with an original maturity of three months or less are carried at fair value. On a daily basis, available funds are swept from the Company’s depository accounts into a concentration account and are used to repay outstanding revolving loans, if any, under the Company’s senior secured credit facility (the “Credit Facility”). Cash balances maintained by certain operating subsidiaries and by entities that are proportionately consolidated that are not swept into the concentration account, as well as deposits made subsequent to the daily cash sweep, are classified as cash. Included in the Company’s cash balances as of December 31, 2020 and 2019 are amounts held by entities that are proportionately consolidated totaling $8.2 million and $13.1 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 generally does not fund its disbursement accounts for checks it has written until the checks are presented to the bank for payment. Outstanding checks that have not yet cleared through the banking system represent book overdrafts, which are classified within accounts payable. There are no compensating balance requirements associated with the Company’s depository accounts and there are no other restrictions on the transfer of cash associated with the Company’s depository accounts.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company’s financial instruments include cash and cash equivalents, accounts and notes receivable, cash collateral deposited with insurance carriers, life insurance assets, equity investments, certain other investments, deferred compensation plan assets and liabilities, accounts payable and other current liabilities, acquisition-related contingent consideration, mandatorily redeemable non-controlling interests, convertible debentures 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. In instances in which the inputs used to measure fair value fall into different levels of the fair value hierarchy, the fair value measurement classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Management’s assessment of the significance of a particular item to the fair value measurement in its entirety requires judgment, including the consideration of inputs specific to the asset or liability. Fair values of financial instruments are estimated using public market prices, quotes from financial institutions and other available information. Due to their short-term maturity, the carrying amounts of cash and cash equivalents, accounts receivable, accounts payable and other current liabilities approximate their fair values. Management believes the carrying values of notes and other receivables, cash collateral deposited with insurance carriers, and outstanding balances on its credit facilities approximate their fair values.
Variable Interest Entities	Management determines whether each business entity in which it has equity interests, debt, or other investments constitutes a variable interest entity (“VIE”) based on the nature and characteristics of such arrangements. If an investment arrangement is determined to be a VIE, then management determines if the Company is the VIE’s primary beneficiary by evaluating several factors, including the Company’s: (i) risks and responsibilities; (ii) ownership interests; (iii) decision making powers; and (iv) financial interests, among other factors. If management determines the Company is the primary beneficiary of a VIE, then it would be consolidated, and other parties’ interests in the VIE would be accounted for as non-controlling interests. The primary beneficiary consolidating the VIE must normally have both (i) the power to direct the primary activities of the VIE and (ii) the obligation to absorb losses of the VIE or the right to receive benefits from the VIE, which, in either case, could be significant to the VIE
Equity Method Investments	The Company’s investments in entities for which it does not have a controlling interest and is not the primary beneficiary, but for which it has the ability to exert significant influence, are accounted for using the equity method of accounting. Under the equity method of accounting, the initial investment is recorded at cost and the investment is subsequently adjusted for its proportionate share of earnings or losses, including consideration of basis differences resulting from the difference between the initial carrying amount of the investment and the underlying equity in net assets. Equity method investments are recorded as other long-term assets. Income or loss from these investments is recorded as a separate line item in the consolidated statements of operations. Intercompany profits or losses associated with the Company’s equity method investments are eliminated until realized by the investee in transactions with third parties. Distributions received from equity method investees are reflected in the statements of cash flows using the nature of distributions approach, under which distributions are classified based on the nature of the activity that generated them.
Unicorporated 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 the Company does not exercise control over the entity, the Company consolidates its proportional interest in the accounts of the entity.
Other Equity Investments With Readily Determinable Fair Values	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.
Other Equity Investments Without Readily Determinable Fair Values	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”).
Deferred Financing Costs	Deferred Financing CostsDeferred financing costs relate to the Company’s debt instruments, the short and long-term portions of which are reflected as deductions from the carrying amounts of the related debt instrument, including the Credit Facility. Deferred financing costs are amortized over the terms of the related debt instruments using the effective interest method.
Property and Equipment	Purchased property and equipment are recorded at cost, or, if acquired in a business combination, at the acquisition date fair value. Finance lease assets are recognized based on the present value of minimum future lease payments. Certain costs incurred in connection with developing or obtaining internal-use software are capitalized within office furniture and equipment. Depreciation and amortization of property and equipment, including finance lease assets, is computed using the straight-line method over the estimated useful lives of the respective assets. Leasehold improvements are depreciated over the shorter of the term of the lease or the estimated useful lives of the improvements. Expenditures for repairs and maintenance are charged to expense as incurred. Expenditures for betterments and major improvements that extend the life of the related assets are capitalized and depreciated over the remaining useful lives of the assets. The carrying amounts of assets sold or retired and the related accumulated depreciation are eliminated in the year of disposal, with resulting gains or losses included in other income or expense.
Finite-Lived Intangible Assets	Finite-lived intangible assets are amortized over their useful lives, which are generally based on contractual or legal rights, in a manner consistent with the pattern in which the related benefits are expected to be consumed.
Impairment of Long-Lived Assets	Management reviews long-lived assets for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. If an evaluation is required, the estimated future undiscounted cash flows associated with the asset are compared with the asset’s carrying amount to determine if there has been an impairment, which is calculated as the difference between the fair value of an asset and its carrying value. Estimates of future undiscounted cash flows are based on expected revenue and operating costs for the business as well as anticipated future economic conditions. Fair values take into consideration management’s estimates of risk-adjusted discount rates, which are believed to be consistent with assumptions that marketplace participants would use in their estimates of fair value.
Goodwill and Indefinite-Lived Intangible Assets	Goodwill and indefinite-lived intangible assets are not amortized, but instead are tested for impairment at least annually. The Company performs its annual impairment tests of goodwill and indefinite-lived intangible assets during the fourth quarter of each year, and on a quarterly basis, monitors these assets for potential indicators of impairment. Goodwill is required to be tested for impairment at the reporting unit level. A reporting unit is an operating segment, or one level below the operating segment, which is referred to as a component. Management identifies its reporting units by assessing whether components (i) have discrete financial information available; (ii) engage in business activities; and (iii) have a segment manager that regularly reviews the component’s operating results. If two or more components are deemed economically similar, those components are aggregated into one reporting unit when performing the annual goodwill impairment test.
Business Combinations	Business Combinations The determination of the fair value of net assets acquired in a business combination requires estimates and judgments of future cash flow expectations for the acquired business and the related identifiable tangible and intangible assets. Fair values of net assets acquired are calculated using expected cash flows and industry-standard valuation techniques. For current assets and current liabilities, book value is generally assumed to equal fair value. Goodwill is the amount by which consideration paid exceeds the fair value of acquired net assets. Acquisition costs, including acquisition integration costs, are expensed as incurred and are included within general and administrative expenses in the consolidated statements of operations. Due to the time required to gather and analyze the necessary data for each acquisition, U.S. GAAP provides a “measurement period” of up to one year in which to finalize these fair value determinations. During the measurement period, preliminary fair value estimates may be revised if new information is obtained about the facts and circumstances existing as of the date of acquisition, or based on the final net assets and working capital of the acquired business, as prescribed in the applicable purchase agreement. Such adjustments may result in the recognition, or adjust the fair values, of acquisition-related assets and liabilities and/or consideration paid, and are referred to as “measurement period” adjustments, and are recorded to goodwill. Other revisions to these fair value estimates are reflected as income or expense, as appropriate. Consideration paid generally consists of cash and potential future payments that are contingent upon the acquired business achieving certain levels of earnings in the future, also referred to as “acquisition-related contingent consideration” or “earn-outs.” In one of the Company’s acquisitions, the acquisition consideration includes a mandatorily redeemable non-controlling interest, subject to a repurchase formula, which is calculated in a manner consistent with the Company’s traditional earn-out arrangements. The Company refers to its traditional earn-out arrangements and the mandatorily redeemable non-controlling interest collectively as “Earn-outs.” Earn-out liabilities are measured at their estimated fair values as of the date of acquisition. Subsequent to the date of acquisition, if future Earn-out payments are expected to differ from Earn-out payments estimated as of the date of acquisition, any related fair value adjustments, including those related to finalization of completed earn-out arrangements, are recognized in the period that such expectation is considered probable. Changes in the fair value of Earn-out liabilities for the Company’s traditional earn-outs, other than those related to measurement period adjustments, as described above, are recorded within other income or expense in the consolidated statements of operations, and for mandatorily redeemable non-controlling interests, are generally recorded within interest expense. Fair values are estimated using income approaches such as discounted cash flows or option pricing models. Earn-out liabilities are included within other current and other long-term liabilities, as appropriate, within the consolidated balance sheets. Earn-out payments, to the extent they relate to estimated liabilities as of the date of acquisition, are classified within financing activities in the consolidated statement of cash flows. Earn-out payments in excess of acquisition date liabilities are classified within operating activities.
Leases	Leases 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. The Company reviews all agreements to determine if a leasing arrangement exists. When a leasing arrangement is identified, a determination is made at inception as to whether the lease is an operating or a finance lease. A lease exists when a contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. In determining whether a lease exists, the Company considers whether a contract provides both the right to obtain substantially all of the economic benefits from the use of an asset and the right to direct the use of the asset. Right-of-use assets and lease liabilities are recognized at the lease commencement date based on the present value of the minimum future lease payments over the expected term of the lease. The Company’s lease assets are primarily concentrated in vehicles, machinery and equipment. Leases with an initial term of twelve months or less are classified as short-term leases and are not recognized in the consolidated balance sheets unless the lease contains a purchase option that is reasonably certain to be exercised, or unless it is reasonably certain that the equipment will be leased for greater than twelve months. Lease payments for short-term leases are recognized on a straight-line basis over the lease term, and primarily relate to equipment used on construction projects, for which the rentals are based on daily, weekly or monthly rental rates, and typically contain termination for convenience provisions. Lease determinations are reassessed in the event of a change in lease terms. The Company has a limited number of sublease arrangements, which are not considered material to the consolidated financial statements. As of December 31, 2020, the Company’s leases have remaining lease terms of up to eight years. Lease agreements may contain renewal clauses, which, if elected, generally extend the term of the lease for one to five years for both equipment and facility leases. Certain lease agreements may also contain options to purchase the leased property and/or options to terminate the lease. In addition, lease agreements may include periodic adjustments to payment amounts for inflation or other variables, or may require payments for taxes, insurance, maintenance or other expenses, which are generally referred to as non-lease components. The Company accounts for non-lease components together with the related lease components for all classes of leased assets. The Company’s lease agreements do not contain significant residual value guarantees or material restrictive covenants. Lease term, discount rate, variable lease costs and future minimum lease payment determinations require the use of judgment, and are based on the facts and circumstances of each lease. Economic incentives, intent, past history and business need are among the factors considered to determine if renewal and/or purchase options are reasonably certain to be exercised. The majority of the Company’s lease agreements do not explicitly state the discount rate implicit in the lease, therefore, the Company generally uses an incremental borrowing rate to determine the value of its lease obligations. The incremental borrowing rate represents the rate of interest that would be paid to borrow on a collateralized basis over a similar term. The Company determines its incremental borrowing rate using a portfolio approach based on information available as of the lease commencement date, including applicable lease terms and the current economic environment. Finance Leases Finance lease assets are recorded within property and equipment, with a corresponding amount recorded within the Company’s debt obligations. Finance lease expense is composed of depreciation expense on the leased asset and interest on the lease liability. Additions to finance leases are included within the supplemental disclosures of non-cash information in the consolidated statements of cash flows. Many of the Company’s finance leases contain purchase options, which the Company frequently exercises, given that the purchase option prices are typically below the estimated fair market values of the related assets. Operating Leases Operating lease right-of-use assets and liabilities are recorded on the consolidated balance sheets, with the related lease expense recognized over the term of the lease on a straight-line basis. Operating lease expense is recorded as rent expense, primarily within costs of revenue, excluding depreciation and amortization. Fixed costs for operating leases are composed of initial base rent amounts plus any fixed annual increases. Variable costs for operating leases consist primarily of common area maintenance expenses and taxes for facility leases. Certain of the Company’s operating leases contain purchase options, for which the purchase option price is generally considered to be at fair market value. From time to time, the Company may terminate a lease before the end of the lease term. Payments related to such early lease terminations are generally recorded within rent expense.
Self-Insurance	Self-Insurance The Company is self-insured up to the amount of its deductible for its insurance policies. MasTec maintains insurance policies subject to per claim deductibles of $2.0 million for its workers’ compensation policy, $4.0 million for its general liability policy and up to $10.0 million for its automobile liability policy. In addition, the Company has excess umbrella coverage. Estimated liabilities under these insurance programs are accrued based upon management’s estimates of the ultimate liability for claims reported and an estimate of claims incurred but not reported, with assistance from third-party actuaries. MasTec also maintains an insurance policy with respect to employee group medical claims, which is subject to annual per employee maximum losses of $0.6 million. MasTec’s estimated liability for employee group medical claims is based on statistical analysis of historical claims experience and specific knowledge of actual losses that have occurred. 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. Cash collateral deposited with insurance carriers is included in other long-term assets in the consolidated balance sheets. The present value of the Company’s self-insurance liability is reflected in the consolidated balance sheets within current and other long-term liabilities, as appropriate. The determination of such claims and expenses and the appropriateness of the related liability is reviewed and updated quarterly. These insurance liabilities are, however, difficult to assess and estimate due to many factors, the effects of which are often unknown or difficult to estimate, including the severity of an injury, the determination of the Company’s liability in proportion to other parties and the number of incidents not reported. Accruals are based upon known facts and historical trends. Although management believes its accruals are adequate, a change in experience or actuarial assumptions could materially affect the Company’s results of operations in a particular period.
Income Taxes	Income Taxes The Company records income taxes using the asset and liability method of accounting for deferred income taxes. Under this method, deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial statement and income tax basis of the Company’s assets and liabilities. Income taxes are estimated in each of the jurisdictions in which the Company operates. This process involves estimating the tax exposure, together with assessing temporary differences resulting from differing treatment of items, such as deferred revenue, for tax and accounting purposes. These differences result in deferred tax assets and liabilities, which are included, net, within the consolidated balance sheets as long-term assets and/or liabilities, as appropriate. The recording of a deferred tax asset assumes the realization of such asset in the future. Otherwise, a valuation allowance is recorded to reduce the asset to its estimated net realizable value. If management determines that the Company may not be able to realize all or part of a deferred tax asset in the future, a valuation allowance for the deferred tax asset is charged to income tax expense in the period the determination is made. Management considers future pretax income and ongoing prudent and feasible tax planning strategies in assessing the estimated net realizable value of tax assets and the corresponding need for any related valuation allowances. In determining the provision for income taxes, management uses an effective tax rate based on annual pre-tax income, statutory tax rates, permanent tax differences and tax planning opportunities in the various jurisdictions in which the Company operates. The Company is generally free of additional U.S. federal tax consequences on distributed foreign subsidiary earnings. The Company has generally not provided for U.S. income taxes on unremitted foreign earnings because such earnings are considered to be insignificant. Significant factors that can affect the annual effective tax rate include management’s assessment of certain tax matters, the location and amount of taxable earnings, changes in certain non-deductible expenses and expected credits. An entity may only recognize or continue to recognize tax positions that meet a "more likely than not" threshold. In the ordinary course of business, there is inherent uncertainty in quantifying income tax positions. The Company assesses its income tax positions and records tax benefits for all years subject to examination based on management's evaluation of the facts, circumstances and information available at the reporting date. For those tax positions where it is more likely than not that a tax benefit will be sustained, the Company has recognized the largest amount of tax benefit with a greater than 50% likelihood of being realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. For those income tax positions where it is not more likely than not that a tax benefit will be sustained, no tax benefit has been recognized in the Company's financial statements. The Company and its subsidiaries file income tax returns in numerous tax jurisdictions, including U.S. federal, most U.S. states and certain foreign jurisdictions. Although management believes its calculations for tax returns are correct and the positions taken thereon are reasonable, the final outcome of income tax examinations could be materially different from the resolution management currently anticipates and the estimates that are reflected in the Company’s consolidated financial statements, which could materially affect the Company’s results of operations, cash flows and liquidity in a particular period. To the extent interest and penalties are assessed by taxing authorities, such amounts are accrued and included within income tax expense.
Income Tax Uncertainties	An entity may only recognize or continue to recognize tax positions that meet a "more likely than not" threshold. In the ordinary course of business, there is inherent uncertainty in quantifying income tax positions. The Company assesses its income tax positions and records tax benefits for all years subject to examination based on management's evaluation of the facts, circumstances and information available at the reporting date. For those tax positions where it is more likely than not that a tax benefit will be sustained, the Company has recognized the largest amount of tax benefit with a greater than 50% likelihood of being realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. For those income tax positions where it is not more likely than not that a tax benefit will be sustained, no tax benefit has been recognized in the Company's financial statements.
Stock-Based Compensation	Stock-Based Compensation The Company has certain stock-based compensation plans, under which restricted stock awards and restricted stock units (together “restricted shares”) are available for issuance to eligible participants. Non-cash stock-based compensation expense is included within general and administrative expense in the consolidated statements of operations. Share-based payments, to the extent they are compensatory, are recognized based on their grant date fair values. Forfeitures are recorded as they occur. The Company records a deferred tax asset, or future tax benefit, based on the amount of share-based compensation recognized in the financial statements over the vesting period of share-based awards. The tax effects of differences between the fair value of a share-based award on the date of vesting and the date of grant, also referred to as excess tax benefits or tax deficiencies, are recognized within the provision for income taxes in the period such vestings occur. Grants of restricted shares are valued based on the closing market share price of MasTec’s common stock as reported on the New York Stock Exchange (the “market price”) on the date of grant. Compensation expense arising from restricted shares is recognized on a straight-line basis over the vesting period. Grants of restricted shares have cliff vesting terms, which generally vest over a period of three years. Upon vesting, some of the underlying shares may be sold to cover the required tax withholdings. However, some participants may choose the net share settlement method to cover withholding tax requirements, in which case shares are not issued, but are treated as common stock repurchases in the consolidated financial statements, as they reduce the number of shares that would have been issued upon vesting. The Company then pays the corresponding withholding taxes to the appropriate taxing authorities in cash on behalf of the recipient. Withheld shares, which are valued at the market price on the date of vesting, are recorded as a reduction to additional paid-in capital and are reflected within financing activities in the consolidated statements of cash flows. For the year ended December 31, 2020, shares withheld in connection with stock-based compensation arrangements totaled 11,667 shares and related payments to taxing authorities totaled $0.6 million. For the year ended December 31, 2019, shares withheld in connection with stock-based compensation arrangements were de minimis. Shares withheld in connection with stock-based compensation arrangements for the year ended December 31, 2018 totaled 96,739 shares and related payments to taxing authorities totaled $3.8 million. 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. These plans allow participants to purchase MasTec, Inc. common stock at 85% of its fair market value at the lower of (i) the date of commencement of the offering period or (ii) the last day of the exercise period, as defined in the plan documents. The fair value of purchases under the Company’s employee stock purchase plans is estimated using the Black-Scholes option-pricing valuation model. The determination of fair value of stock-based awards using an option-pricing model is affected by the Company’s stock price as well as assumptions pertaining to several variables, including expected stock price volatility, the expected term of the award and the risk-free rate of interest. In the option-pricing model for the Company’s employee stock purchase plans, expected stock price volatility is based on historical volatility of the Company’s common stock. The expected term of the award is based on historical and expected exercise patterns and the risk-free rate of interest is based on U.S. Treasury yields. Beginning in 2021, ESPP shares will be purchased at 85% of the fair market value of MasTec common stock as of the date of purchase.
Collective Bargaining Agreements and Multiemployer Plans	Collective Bargaining Agreements and Multiemployer Plans Certain of MasTec’s subsidiaries, including certain subsidiaries in Canada, are party to various collective bargaining agreements with unions representing certain of their employees. These agreements require the subsidiaries party to the agreements to pay specified wages, provide certain benefits to their union employees and contribute certain amounts to multiemployer pension and other multiemployer benefit plans and trusts (“MEPPs”). These contributions are recorded as a component of employee wages and salaries within costs of revenue, excluding depreciation and amortization. Contributions are generally based on fixed amounts per hour per employee for employees covered under these plans. Multiemployer plan contribution rates are determined annually and assessed on a “pay-as-you-go” basis based on union employee payrolls. The Pension Protection Act of 2006, as amended, (the “PPA”) requires pension plans that are underfunded to improve their funding ratios within prescribed intervals based on their level of underfunding, under which benefit reductions may apply and/or participating employers could be required to make additional contributions. In addition, if a multiemployer defined benefit plan fails to satisfy certain minimum funding requirements, the IRS may impose on the employers contributing to such plans a non-deductible excise tax of 5% of the amount of the accumulated funding deficiency. Union payrolls cannot be determined for future periods because the number of union employees employed at any given time, and the plans in which they may participate, vary depending upon the location and number of ongoing projects at a given time and the need for union resources in connection with those projects. The collective bargaining agreements expire at various times and have typically been renegotiated and renewed on terms similar to the ones contained in the expiring agreements. Under current law pertaining to employers that are contributors to U.S.-registered multiemployer defined benefit plans, a plan’s termination, an employer’s voluntary withdrawal from, or the mass withdrawal of contributing employers from, an underfunded multiemployer defined benefit plan requires participating employers to make payments to the plan for their proportionate share of the multiemployer plan’s unfunded vested liabilities. These liabilities include an allocable share of the unfunded vested benefits of the plan for all plan participants, not only for benefits payable to participants of the contributing employer. As a result, participating employers may bear a higher proportion of liability for unfunded vested benefits if the other participating employers cease to contribute to, or withdraw from, the plan. The allocable portion of liability to participating employers could be more disproportionate if employers that have withdrawn from the plan are insolvent, or if they otherwise fail to pay their proportionate share of the withdrawal liability. If the Company is subject to a withdrawal liability, the related withdrawal charge is recorded as a component of employee wages and salaries within costs of revenue, excluding depreciation and amortization, with any related liability recorded within other current and/or other long-term liabilities, as appropriate. The Company’s participation in the multiemployer pension plans is evaluated by management on an ongoing basis.
Restructuring Activities	Restructuring Activities From time to time, the Company may incur costs to streamline its business operations. These streamlining efforts, which are designed to improve profitability, could include eliminating service offerings that no longer fit into the Company’s business plan, certain integration activities for acquired businesses, reducing or eliminating services or operations that do not produce adequate revenue or margins, or reducing costs of business units that need margin improvements. The costs associated with these efforts, which the Company refers to as restructuring charges, include such items as employee separation costs, lease termination expenses and losses on disposal of excess fixed assets. When these efforts are related to circumstances that are significant, unique in nature and outside of the course of the Company’s normal and periodic business streamlining efforts, the related amount of restructuring charges included within the consolidated financial statements is aggregated and accompanied by a discussion of the nature of such restructuring activities. Restructuring charges are included within the applicable line item(s) in the consolidated statement of operations based on the nature of the expense incurred.
Litigation and Contingencies	Litigation and Contingencies Accruals for litigation and contingencies are reflected in the consolidated financial statements based on management’s assessment, including advice of legal counsel, of the expected outcome of litigation or other dispute resolution proceedings and/or the expected resolution of contingencies. Liabilities for estimated losses are accrued if the potential loss from any claim or legal proceeding is considered probable and the amount can be reasonably estimated. Significant judgment is required in both the determination of probability of loss and the determination as to whether the amount is reasonably estimable. Accruals are based on information available at the time of the assessment due to the uncertain nature of such matters. As additional information becomes available, management reassesses potential liabilities related to pending claims and litigation and may revise its previous estimates, which could materially affect the Company’s results of operations in a given period.
Comprehensive Income (Loss)	Comprehensive Income (Loss) Comprehensive income or loss is a measure of net income and other changes in equity that result from transactions other than those with shareholders. Comprehensive income or loss and related accumulated comprehensive income or loss balances consist of net income, foreign currency translation adjustments, primarily from fluctuations in foreign currency exchange rates of the Company’s foreign subsidiaries with a functional currency other than the U.S. dollar, unrealized gains and losses from certain investment activities and net income or loss attributable to non-controlling interests.
Recent Accounting Pronouncements	Recent Accounting Pronouncements See allowance for credit losses discussion within Significant Accounting Policies above, and the recent accounting pronouncements discussion below, for information pertaining to the effects of recently adopted and other recent accounting pronouncements. Accounting Pronouncements Adopted in 2020 In August 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40) Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (“ASU 2018-15”) to reduce diversity in practice in accounting for the costs of implementing cloud computing arrangements that are service contracts. ASU 2018-15 aligns the requirements for capitalizing implementation costs incurred in a cloud computing arrangement that is a service contract with the requirements for internal-use software. Accounting for the service element of the cloud computing arrangement is not affected by the new guidance. Under ASU 2018-15, amortization expense, payments for and asset balances related to such capitalized implementation costs are to be presented within the same line items of the entity’s statements of operations, cash flows and balance sheets, respectively, as the related service fee activity and balances would be presented. ASU 2018-15, which the Company adopted on a prospective basis during the first quarter of 2020, did not have a material effect on the Company’s consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820) Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”). ASU 2018-13, which is intended to improve the effectiveness of fair value measurement disclosures, modifies the disclosure requirements for certain estimates and assumptions used in determining the fair value of assets and liabilities. ASU 2018-13, which the Company adopted during the first quarter of 2020, did not have a material effect on the Company’s consolidated financial statements. See Note 4 - Fair Value of Financial Instruments for disclosure updates pertaining to significant unobservable inputs used to develop fair value estimates for certain of the Company’s Level 3 financial instruments. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments. This ASU, together with its related clarifying ASUs (collectively, “ASU 2016-13”), introduced an expected credit loss methodology for the measurement and recognition of credit losses on most financial assets, including financial assets arising from revenue transactions, such as accounts receivable and contract assets. The new expected credit loss methodology, which is based on historical experience, current conditions and reasonable and supportable forecasts, replaced the incurred loss model for measuring and recognizing expected credit losses. The Company adopted this ASU in the first quarter of 2020 and incorporated this guidance into its methodology for estimating its accounts receivable allowances. Based on historical trends, the financial condition of the Company’s customers and management’s expectations of economic and industry factors affecting the Company’s customers, ASU 2016-13 did not have a material effect on the Company’s consolidated financial statements upon adoption. For additional information about the Company’s allowance for credit losses see discussion within Significant Accounting Policies above, and Note 5 - Accounts Receivable, Net of Allowance, and Contract Assets and Liabilities. Accounting Pronouncements To Be Adopted in 2021 In January 2020, the FASB issued ASU 2020-01, Investments-Equity Securities (Topic 321), Investments-Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815): Clarifying the Interactions between Topic 321, Topic 323, and Topic 815 (“ASU 2020-01”) to clarify the interaction in accounting for equity securities under Topic 321, investments accounted for under the equity method of accounting in Topic 323 and the accounting for certain forward contracts and purchased options accounted for under Topic 815. ASU 2020-01 is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2020. This ASU is not expected to have a material effect on the Company’s consolidated financial statements. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which eliminates certain exceptions to the existing guidance for income taxes related to the approach for intra-period tax allocations, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. This ASU also simplifies the accounting for income taxes by clarifying and amending existing guidance related to the effects of enacted changes in tax laws or rates in the effective tax rate computation, the recognition of franchise tax and the evaluation of a step-up in the tax basis of goodwill, among other clarifications. ASU 2019-12 is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2020. The Company is currently evaluating the potential effects of this ASU, however, does not expect that its adoption will have a material effect on the Company’s consolidated financial statements. Other Recent Accounting Pronouncements In March 2020, the FASB issued ASU 2020-04, Reference Reform Rate (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”) to provide temporary optional expedients and exceptions to the contract modifications, hedge relationships and other transactions affected by reference rate reform if certain criteria are met. This ASU, which was effective upon issuance and may be applied through December 31, 2022, is applicable to all contracts and hedging relationships that reference the London Interbank Offered Rate or any other reference rate expected to be discontinued. The guidance in ASU 2020-04 may be implemented over time as reference rate reform activities occur. The Company is currently evaluating the potential effects of this ASU, however, does not expect reference rate reform to have a material effect on its consolidated financial statements as the Company’s current Credit Facility agreement provides for the replacement of LIBOR with an alternative benchmark rate should LIBOR become unavailable.

Earnings Per Share (Narrative) (Details) - shares shares in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share [Abstract]
Treasury stock acquired (in shares)	3.6		7.2
Effect of share repurchases, decrease in weighted average shares outstanding (in shares)	2.9	4.4	2.8

Property and Equipment, Net (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Capitalized internal-use software, gross	$ 154.1	$ 138.2
Capitalized internal-use software, net	34.3	31.5
Accrued capital expenditures	$ 13.5	$ 5.2

Schedule II - Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2020

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Schedule II - Valuation and Qualifying Accounts

SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS

(in millions)


			Additions
	Balance at Beginning of Period		Charges to Cost and Expense			Other Additions		(Deductions)			Balance at End of Period
Year ended December 31, 2020
Allowance for credit losses	$	10.1	$	12.1	(a)	$	—	$	(1.7)	(b)	$	20.5
Allowance for unbilled receivables	31.3		38.5		(a)	—		(39.4)		(b)	30.4
Valuation allowance for inventory	7.7		1.8		(c)	—		(1.0)		(d)	8.5
Valuation allowance for deferred tax assets	48.8		6.8		(e)	—		(9.8)		(f)	45.8
Total	$	97.9	$	59.2		$	—	$	(51.9)		$	105.2
Year ended December 31, 2019
Allowance for credit losses	$	16.3	$	1.7	(a)	$	—	$	(7.9)	(b)	$	10.1
Allowance for unbilled receivables	22.0		49.7		(a)	—		(40.4)		(b)	31.3
Valuation allowance for inventory	7.8		2.1		(c)	—		(2.2)		(d)	7.7
Valuation allowance for deferred tax assets	40.6		8.2		(e)	—		—			48.8
Total	$	86.7	$	61.7		$	—	$	(50.5)		$	97.9
Year ended December 31, 2018
Allowance for credit losses	$	8.2	$	8.6	(a)	$	—	$	(0.5)	(b)	$	16.3
Allowance for unbilled receivables	27.2		33.0		(a)	—		(38.2)		(b)	22.0
Valuation allowance for inventory	7.7		1.1		(c)	—		(1.0)		(d)	7.8
Valuation allowance for deferred tax assets	40.5		0.1		(e)	—		—			40.6
Total	$	83.6	$	42.8		$	—	$	(39.7)		$	86.7

(a) Provisions for receivables.

(b) Write-offs of and reversals for receivables.

(d) Inventory write-offs.

(e) Additions related to federal, foreign and state attributes.

(f) Deductions related to federal, foreign and state attributes.

Goodwill and Other Intangible Assets (2020 Acquisitions) (Narrative) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2020 USD ($) yr acquisition	Dec. 31, 2019 USD ($) acquisition	Dec. 31, 2018 USD ($)	Jun. 30, 2020
Business Combinations [Line Items]
Business combinations, number of acquisitions \| acquisition		5	6
Cash, net of cash acquired and other		$ 24,971	$ 179,481	$ 6,684
Business combinations, contingent consideration liabilities, range of potential undiscounted earn-out liabilities, high		179,000
Business combinations, contingent consideration liabilities, range of potential undiscounted earn-out liabilities, low		$ 48,000
Install to Home [Member]
Business Combinations [Line Items]
Business combinations, number of acquisitions \| acquisition		1
Communications and Electrical Transmission [Member]
Business Combinations [Line Items]
Business combinations, number of acquisitions \| acquisition		3
Communications [Member]
Business Combinations [Line Items]
Business combinations, percentage of interests acquired			96.00%
Business combinations, number of acquisitions \| acquisition		1	4
Electrical Transmission [Member]
Business Combinations [Line Items]
Business combinations, number of acquisitions \| acquisition		1
Clean Energy and Infrastructure
Business Combinations [Line Items]
Business combinations, percentage of interests acquired		91.00%			96.00%
Business combinations, number of acquisitions \| acquisition			1
Clean Energy and Infrastructure and Communications
Business Combinations [Line Items]
Business combinations, number of acquisitions \| acquisition		2
2020 Acquisitions [Member]
Business Combinations [Line Items]
Cash, net of cash acquired and other		$ 23,500
Business combinations, contingent consideration, earn-out liabilities		8,300
Business combinations, contingent consideration liabilities, range of potential undiscounted earn-out liabilities, high		13,000
Business combinations, contingent consideration liabilities, range of potential undiscounted earn-out liabilities, low		$ 1,000
2020 Acquisitions [Member] \| Maximum [Member] \| Expected Term [Member]
Business Combinations [Line Items]
Business combinations, contingent consideration, earn-out period (in years) \| yr		5
2020 Acquisitions [Member] \| Forecast [Member]
Business Combinations [Line Items]
Cash, net of cash acquired and other	$ 3,200

Goodwill and Other Intangible Assets (Q1 2021 Acquisitions) (Narrative) (Details) - USD ($) $ in Thousands		12 Months Ended
	Feb. 10, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Business Combinations [Line Items]
Cash, net of cash acquired and other		$ 24,971	$ 179,481	$ 6,684
2021 Acquisitions [Member] \| Subsequent Event [Member]
Business Combinations [Line Items]
Cash, net of cash acquired and other	$ 110,000

Segments and Related Information (Narrative) (Details)	12 Months Ended
Segments and Related Information (Narrative) (Details)	Dec. 31, 2020 numberOfSegments
Segment Reporting [Abstract]
Number of operating segments	5
Number of reportable segments	5

Fair Value of Financial Instruments (Acquisition-Related Contingent Consideration) (Narrative) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Fair Value, Financial Instruments Measured on a Recurring Basis [Line Items]
Acquisition-related contingent consideration liabilities, range of potential undiscounted earn-out liabilities, low	$ 48.0
Acquisition-related contingent consideration liabilities, range of potential undiscounted earn-out liabilities, high	179.0
Acquisition-related contingent consideration liabilities, net increase (decrease), measurement period adjustments	$ 6.1	$ (0.1)
Discount Rate [Member] \| Minimum [Member]
Fair Value, Financial Instruments Measured on a Recurring Basis [Line Items]
Acquisition-related contingent consideration liabilities, measurement input, discount rate	0.120
Discount Rate [Member] \| Maximum [Member]
Fair Value, Financial Instruments Measured on a Recurring Basis [Line Items]
Acquisition-related contingent consideration liabilities, measurement input, discount rate	0.200
Discount Rate [Member] \| Weighted Average [Member]
Fair Value, Financial Instruments Measured on a Recurring Basis [Line Items]
Acquisition-related contingent consideration liabilities, measurement input, discount rate	0.131
Earn-Out Liabilities [Member]
Fair Value, Financial Instruments Measured on a Recurring Basis [Line Items]
Acquisition-related contingent consideration liabilities, estimated fair value	$ 135.2	173.2
Acquisition-related contingent consideration liabilities, additions from new business combinations	7.2	45.2	$ 1.5
Acquisition-related contingent consideration liabilities, net increase (decrease), measurement period adjustments	2.1	(6.1)	5.0
Acquisition-related contingent consideration liabilities, net increase (decrease), fair value adjustments, expense (income)	3.1	51.0	17.5
Acquisition-related contingent consideration liabilities, payments	50.4	35.0	$ 23.1
Earn-Out Liabilities [Member] \| Mandatorily Redeemable Stock [Member]
Fair Value, Financial Instruments Measured on a Recurring Basis [Line Items]
Acquisition-related contingent consideration liabilities, net increase (decrease), fair value adjustments, expense (income)	1.0
Earn-Out Liabilities [Member] \| Other Current Liabilities [Member]
Fair Value, Financial Instruments Measured on a Recurring Basis [Line Items]
Acquisition-related contingent consideration liabilities, estimated fair value	$ 48.1	$ 54.1

Goodwill and Other Intangible Assets (Rollforward of Goodwill by Segment) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2018
Goodwill [Line Items]
Goodwill, gross			$ 1,366,800	$ 1,216,400
Goodwill, accumulated impairment loss			(123,800)	(116,000)
Goodwill, net	$ 1,221,440	$ 1,100,400	1,243,034	1,100,400
Goodwill [Roll Forward]
Goodwill, net, beginning balance	1,221,440	1,100,400
Additions from new business combinations	15,100	120,400
Measurement period adjustments, net	6,100	(100)
Currency translation adjustments	400	700
Goodwill, net, ending balance	1,243,034	1,221,440
Communications [Member]
Goodwill [Line Items]
Goodwill, gross			562,100	467,800
Goodwill, accumulated impairment loss			0	0
Goodwill, net	562,100	541,300	562,100	467,800
Goodwill [Roll Forward]
Goodwill, net, beginning balance	541,300	467,800
Additions from new business combinations	14,900	73,200
Measurement period adjustments, net	5,900	300
Currency translation adjustments	0	0
Goodwill, net, ending balance	562,100	541,300
Clean Energy and Infrastructure
Goodwill [Line Items]
Goodwill, gross			152,700	143,100
Goodwill, accumulated impairment loss			0	0
Goodwill, net	152,700	152,600	152,700	143,100
Goodwill [Roll Forward]
Goodwill, net, beginning balance	152,600	143,100
Additions from new business combinations	0	9,500
Measurement period adjustments, net	100	0
Currency translation adjustments	0	0
Goodwill, net, ending balance	152,700	152,600
Oil and Gas [Member]
Goodwill [Line Items]
Goodwill, gross			501,900	455,600
Goodwill, accumulated impairment loss			(123,800)	(116,000)
Goodwill, net	378,100	377,600	378,100	339,600
Goodwill [Roll Forward]
Goodwill, net, beginning balance	377,600	339,600
Additions from new business combinations	0	37,700
Measurement period adjustments, net	100	(400)
Currency translation adjustments	400	700
Goodwill, net, ending balance	378,100	377,600
Electrical Transmission [Member]
Goodwill [Line Items]
Goodwill, gross			150,100	149,900
Goodwill, accumulated impairment loss			0	0
Goodwill, net	150,100	149,900	$ 150,100	$ 149,900
Goodwill [Roll Forward]
Goodwill, net, beginning balance	149,900	149,900
Additions from new business combinations	200	0
Measurement period adjustments, net	0	0
Currency translation adjustments	0	0
Goodwill, net, ending balance	$ 150,100	$ 149,900

Fair Value of Financial Instruments (Senior Notes) (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
4.50% Senior Notes [Member]
Fair Value Disclosure of Liabilities Not Measured at Fair Value [Line Items]
Senior Notes, gross carrying amount	$ 600.0
4.50% Senior Notes [Member] \| Senior Notes [Member]
Fair Value Disclosure of Liabilities Not Measured at Fair Value [Line Items]
Debt instrument, interest rate (percentage)	4.50%
Debt instrument, maturity date	Aug. 15, 2028
Senior Notes, estimated fair value	$ 625.5
4.875% Senior Notes [Member]
Fair Value Disclosure of Liabilities Not Measured at Fair Value [Line Items]
Senior Notes, gross carrying amount		$ 400.0
4.875% Senior Notes [Member] \| Senior Notes [Member]
Fair Value Disclosure of Liabilities Not Measured at Fair Value [Line Items]
Debt instrument, interest rate (percentage)	4.875%
Debt instrument, maturity date	Mar. 15, 2023
Senior Notes, estimated fair value		$ 404.5

Debt (Other) (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
Debt instruments, accrued interest payable	$ 12.4	$ 7.5

Segments and Related Information (Schedule of Significant Customers, Revenue Concentration Information) (Details) - Customer Concentration Risk [Member] - Revenue Benchmark [Member]	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
AT&T (including DIRECTV) [Member]
Revenue, Significant Customer [Line Items]
Concentration risk, percentage of total	18.00%	20.00%	23.00%
Equitrans Midstream Corporation/EQT Corporation [Member]
Revenue, Significant Customer [Line Items]
Concentration risk, percentage of total	3.00%	11.00%	20.00%
Energy Transfer Affiliates [Member]
Revenue, Significant Customer [Line Items]
Concentration risk, percentage of total	5.00%	8.00%	14.00%

Income Taxes

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Income Taxes

Note 12 – Income Taxes

The components of income before income taxes for the periods indicated were as follows (in millions):


	For the Years Ended December 31,
	2020		2019		2018
Domestic	$	435.9	$	452.2	$	341.1
Foreign	(10.7)		58.7		24.2
Total	$	425.2	$	510.9	$	365.3

The provision for income taxes for the periods indicated were as follows (in millions):


	For the Years Ended December 31,
	2020		2019		2018
Current:
Federal	$	70.6	$	77.4	$	26.7
Foreign	2.1		6.2		9.4
State and local	22.6		15.6		10.5
	$	95.3	$	99.2	$	46.6
Deferred:
Federal	$	14.8	$	22.4	$	43.9
Foreign	(9.8)		(2.8)		3.3
State and local	2.2		(2.0)		12.3
	$	7.2	$	17.6	$	59.5
Provision for income taxes	$	102.5	$	116.8	$	106.1

The tax effects of significant items comprising the Company’s net deferred tax liability as of the dates indicated were as follows (in millions):


	December 31,
	2020		2019
Deferred tax assets:
Accrued insurance	$	31.1	$	28.6
Operating loss carryforwards and tax credits	82.1		70.5
Compensation and benefits	32.8		16.8
Bad debt	3.7		0.9

Other	12.3		11.5
Valuation allowance	(45.8)		(48.8)
Total deferred tax assets	$	116.2	$	79.5
Deferred tax liabilities:
Property and equipment	$	205.0	$	179.5
Goodwill	58.7		49.6
Other intangible assets	30.7		35.0
Gain on remeasurement of equity investee	7.0		7.0
Revenue recognition	22.4		20.6
Investments in unconsolidated entities	79.8		74.0
Other	15.5		10.1
Total deferred tax liabilities	$	419.1	$	375.8
Net deferred tax liabilities	$	(302.9)	$	(296.3)

In assessing the ability to realize the Company’s deferred tax assets, management considers whether it is more likely than not that some portion, or all, of its deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which these temporary differences become deductible. Management considers the Company’s projected future taxable income and prudent and feasible tax planning strategies in making this assessment. The Company’s valuation allowances as of December 31, 2020 and 2019 are related primarily to foreign net operating losses and deferred tax assets.

The Company’s deferred tax assets for its state net operating loss carryforwards, which may be carried forward from 5 years to indefinitely depending on the jurisdiction, totaled approximately $15.7 million and $11.5 million as of December 31, 2020 and 2019, respectively. The Company’s deferred tax assets for its foreign net operating loss carryforwards, which are primarily related to the Company’s Canadian operations, totaled approximately $66.0 million and $57.4 million as of December 31, 2020 and 2019, respectively. The Canadian net operating loss carryforwards, which make up the majority of the foreign net operating loss carryforwards, begin to expire in 2030. The Company’s deferred tax assets for its federal net operating loss carryforwards, which begin to expire in 2022, totaled $0.1 million as of both December 31, 2020 and 2019.

The 2017 Tax Act included broad tax reform that was applicable to the Company. The Company recognized a net tax benefit of approximately $16.4 million for the year ended December 31, 2018 related to revisions of its initial estimates under the 2017 Tax Act, primarily from finalization of its 2017 tax return, as well as from certain tax accounting method changes and other adjustments. However, since many provisions of the 2017 Tax Act still do not have final guidance issued, it may be necessary for the Company to make future adjustments based on such new guidance.

The Company is generally free of additional U.S. federal tax consequences on distributed foreign subsidiary earnings due to a dividends received deduction implemented as part of the move to a territorial tax system in connection with the 2017 Tax Act. The Company has generally not made a provision for income taxes on unremitted foreign earnings because such earnings are insignificant and are intended to be indefinitely reinvested outside the United States. The Company expects that domestic cash resources will be sufficient to fund its domestic operations and cash commitments in the future.

A reconciliation of the U.S. statutory federal income tax rate related to pretax income to the effective tax rate for the periods indicated is as follows:


	For the Years Ended December 31,
	2020		2019		2018
U.S. statutory federal rate applied to pretax income	21.0	%	21.0	%	21.0	%
State and local income taxes, net of federal benefit	4.3		3.2		4.2
Foreign tax rate differential	(0.2)		0.2		1.5
Non-deductible expenses	1.5		1.7		1.7
Goodwill and intangible assets	(0.2)		(0.5)		3.6
Change in tax rate	0.6		(1.5)		(2.8)
Other	(0.6)		(1.0)		(2.4)
Tax credits	(1.2)		(0.6)		(0.4)
Stock basis adjustment	0.0		(1.8)		0.0
Valuation allowance for deferred tax assets	(1.1)		2.2		2.6
Effective income tax rate	24.1	%	22.9	%	29.0	%

A reconciliation of the beginning and ending amount of uncertain tax positions including interest and penalties is as follows (in millions):


	For the Years Ended December 31,
	2020		2019		2018
Beginning balance	$	13.5	$	9.4	$	8.1
Additions based on tax positions related to the current year	1.5		3.7		2.7
Additions for tax positions of prior years	3.4		0.7		—
Reductions for tax positions of prior years	—		(0.3)		(1.4)
Ending balance	$	18.4	$	13.5	$	9.4

The Company classifies interest and penalties on uncertain tax positions as a component of income tax expense in the consolidated statements of operations. For the years ended December 31, 2020, 2019 and 2018, income tax expense included interest and penalties related to uncertain tax positions of $1.4 million, $0.5 million and $0.7 million, respectively. Accrued interest and penalties related to uncertain tax positions were $2.6 million and $1.3 million as of December 31, 2020 and 2019, respectively. The effect on the Company’s tax rate if it were to recognize its gross unrecognized tax benefits as of December 31, 2020 approximates $18.4 million, including interest and penalties.

The IRS is examining the Company’s 2016 and 2017 federal income tax returns. Certain foreign and state taxing authorities are examining various years. The final outcome of these examinations is not yet determinable. With few exceptions, as of December 31, 2020, the Company is no longer subject to state examinations by taxing authorities for years before 2017.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Stock-Based Compensation and Other Employee Benefit Plans (Deferred Compensation Plans) (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Deferred Compensation Arrangements [Abstract]
Deferred compensation plans, assets	$ 14.1	$ 11.9
Deferred compensation plans, liabilities	$ 15.0	$ 12.3

Quarterly Information (Unaudited) (Narrative) (Details) - USD ($)	3 Months Ended							12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Quarterly Financial Information [Line Items]
Loss on extinguishment of debt		$ 5,600,000						$ 5,569,000	$ 0	$ 0
Intangible asset, pre-tax impairment charge									3,300,000	0
Stock-based compensation, net excess tax benefits	$ 600,000		$ (100,000)	$ 1,600,000			$ 2,300,000	$ 500,000	3,900,000	$ 1,600,000
Income tax effects from changes in tax rates	$ 2,500,000			(5,900,000)	$ (500,000)	$ (1,400,000)
Pre-Qualifications [Member]
Quarterly Financial Information [Line Items]
Intangible asset, pre-tax impairment charge				$ 3,300,000					$ 3,300,000

Related Party Transactions (Management and Other Transactions) (Narrative) (Details) - Management [Member] - Equipment, Supplies And Services [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Related Party Transaction [Line Items]
Payments, related party	$ 80.9	$ 108.0	$ 134.4
Payables, related party	8.9	14.7
Revenue, related party	4.1	$ 2.3	$ 10.3
Receivables, related party	$ 0.5

Goodwill and Other Intangible Assets (Rollforward of Other Intangible Assets) (Details) - USD ($)			3 Months Ended	12 Months Ended
	Dec. 31, 2020	Jan. 01, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2018
Other Intangible Assets [Line Items]
Other intangible assets, gross							$ 354,000,000.0
Accumulated amortization							(184,600,000)
Other Intangible Assets [Roll Forward]
Other intangible assets, net, beginning balance		$ 211,528,000		$ 211,528,000	$ 169,400,000
Additions from new business combinations				11,100,000	73,100,000
Intangible assets, gross (excluding goodwill), transfer in (out)				0
Measurement period adjustments				(200,000)	(6,900,000)
Intangible asset impairment, non-amortizing intangible assets					(3,300,000)	$ 0
Intangible asset impairment					(3,300,000)
Amortization expense				(38,900,000)	(23,000,000.0)
Currency translation adjustments				500,000	2,200,000
Other intangible assets, net, amortizing, ending balance	$ 149,500,000			149,500,000
Other intangible assets, net, ending balance	$ 184,043,000		$ 211,528,000	184,043,000	211,528,000	169,400,000
Weighted Average [Member]
Other Intangible Assets [Roll Forward]
Remaining weighted average amortization period (in years)	10 years
Customer Relationships and Backlog [Member]
Other Intangible Assets [Line Items]
Other intangible assets, amortizing, gross							224,400,000
Accumulated amortization							(170,000,000.0)
Other Intangible Assets [Roll Forward]
Other intangible assets, net, amortizing, beginning balance		95,300,000		95,300,000	54,400,000
Additions from new business combinations, amortizing intangible assets				11,000,000.0	67,700,000
Finite-lived intangible assets, transfer in (out)				0
Measurement period adjustments, amortizing intangible assets				(200,000)	(6,700,000)
Intangible asset impairment, amortizing intangible assets					0
Amortization expense				(26,700,000)	(20,200,000)
Currency translation adjustments, amortizing intangible assets				0	100,000
Other intangible assets, net, amortizing, ending balance	$ 79,400,000		95,300,000	79,400,000	95,300,000	54,400,000
Customer Relationships and Backlog [Member] \| Weighted Average [Member]
Other Intangible Assets [Roll Forward]
Remaining weighted average amortization period (in years)	9 years
Other Amortizing Intangible Assets [Member]
Other Intangible Assets [Line Items]
Other intangible assets, amortizing, gross							21,100,000
Accumulated amortization							(14,600,000)
Other Intangible Assets [Roll Forward]
Other intangible assets, net, amortizing, beginning balance		8,800,000		8,800,000	6,500,000
Additions from new business combinations, amortizing intangible assets				100,000	5,200,000
Finite-lived intangible assets, transfer in (out)				0
Measurement period adjustments, amortizing intangible assets				0	(200,000)
Intangible asset impairment, amortizing intangible assets					0
Amortization expense				(2,000,000.0)	(2,800,000)
Currency translation adjustments, amortizing intangible assets				0	100,000
Other intangible assets, net, amortizing, ending balance	$ 6,900,000		8,800,000	6,900,000	8,800,000	6,500,000
Other Amortizing Intangible Assets [Member] \| Weighted Average [Member]
Other Intangible Assets [Roll Forward]
Remaining weighted average amortization period (in years)	6 years
Pre-Qualifications [Member]
Other Intangible Assets [Line Items]
Other intangible assets, amortizing, gross							0
Accumulated amortization							0
Other Intangible Assets [Roll Forward]
Other intangible assets, net, amortizing, beginning balance		$ 0		0	0
Additions from new business combinations, amortizing intangible assets				0	0
Finite-lived intangible assets, transfer in (out)				69,800,000
Measurement period adjustments, amortizing intangible assets				0	0
Intangible asset impairment, amortizing intangible assets					0
Amortization expense				(10,200,000)	0
Currency translation adjustments, amortizing intangible assets				3,600,000	0
Other intangible assets, net, amortizing, ending balance	$ 63,200,000		0	63,200,000	0	0
Pre-Qualifications [Member] \| Weighted Average [Member]
Other Intangible Assets [Roll Forward]
Remaining weighted average amortization period (in years)	11 years	12 years
Trade Names [Member]
Other Intangible Assets [Line Items]
Other intangible assets, non-amortizing	$ 34,500,000	$ 34,500,000	34,500,000	34,500,000	34,500,000	34,500,000	34,500,000
Other Intangible Assets [Roll Forward]
Other intangible assets, non-amortizing, beginning balance		34,500,000		34,500,000	34,500,000
Additions from new business combinations, non-amortizing intangible assets				0	0
Indefinite-lived intangible assets, transfers in (out)				0
Measurement period adjustments, non-amortizing intangible assets				0	0
Intangible asset impairment, non-amortizing intangible assets					0
Currency translation adjustments, non-amortizing intangible assets				0	0
Other intangible assets, non-amortizing, ending balance	34,500,000		34,500,000	34,500,000	34,500,000	34,500,000
Pre-Qualifications [Member]
Other Intangible Assets [Line Items]
Other intangible assets, non-amortizing	0	72,900,000	72,900,000	0	72,900,000	74,000,000.0	$ 74,000,000.0
Other Intangible Assets [Roll Forward]
Other intangible assets, non-amortizing, beginning balance		$ 72,900,000		72,900,000	74,000,000.0
Additions from new business combinations, non-amortizing intangible assets				0	200,000
Indefinite-lived intangible assets, transfers in (out)				(69,800,000)
Measurement period adjustments, non-amortizing intangible assets				0	0
Intangible asset impairment, non-amortizing intangible assets			(3,300,000)		(3,300,000)
Currency translation adjustments, non-amortizing intangible assets				(3,100,000)	2,000,000.0
Other intangible assets, non-amortizing, ending balance	$ 0		$ 72,900,000	$ 0	$ 72,900,000	$ 74,000,000.0

Equity (Share Activity) (Narrative) (Details) - USD ($) shares in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Mar. 19, 2020	Dec. 21, 2018	Sep. 11, 2018	Mar. 29, 2018	Feb. 25, 2016
Equity, Treasury Stock [Line Items]
Treasury stock acquired (in shares)	3.6		7.2
Treasury stock acquired, value	$ 120,228,000	$ 602,000	$ 319,001,000
Stock repurchase program, remaining authorized repurchase amount	$ 158,600,000
September 2018 Share Repurchase Program [Member]
Equity, Treasury Stock [Line Items]
Treasury stock acquired (in shares)	0.6		2.9
Treasury stock acquired, value	$ 28,800,000		$ 120,600,000
Share repurchase program, amount authorized, value						$ 150,000,000
December 2018 Share Repurchase Program [Member]
Equity, Treasury Stock [Line Items]
Treasury stock acquired (in shares)	3.0
Treasury stock acquired, value	$ 91,400,000
Share repurchase program, amount authorized, value					$ 100,000,000
Stock repurchase program, remaining authorized repurchase amount	8,600,000
2016 Share Repurchase Program [Member]
Equity, Treasury Stock [Line Items]
Treasury stock acquired (in shares)			2.0
Treasury stock acquired, value			$ 98,400,000
Share repurchase program, amount authorized, value								$ 100,000,000
March 2018 Share Repurchase Program [Member]
Equity, Treasury Stock [Line Items]
Treasury stock acquired (in shares)			2.3
Treasury stock acquired, value			$ 100,000,000
Share repurchase program, amount authorized, value							$ 100,000,000
March 2020 Share Repurchase Program [Member]
Equity, Treasury Stock [Line Items]
Share repurchase program, amount authorized, value				$ 150,000,000
Stock repurchase program, remaining authorized repurchase amount	$ 150,000,000

Income Taxes (Rollforward of Uncertain Tax Positions) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Uncertain Tax Positions [Rollforward]
Beginning balance	$ 13.5	$ 9.4	$ 8.1
Additions based on tax positions related to the current year	1.5	3.7	2.7
Additions for tax positions of prior years	3.4	0.7	0.0
Reductions for tax positions of prior years	0.0	(0.3)	(1.4)
Ending balance	$ 18.4	$ 13.5	$ 9.4

Debt

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Debt

Note 7 – Debt

The following table provides details of the carrying values of debt as of the dates indicated (in millions):


		December 31,
Description	Maturity Date	2020		2019
Senior secured credit facility:	September 19, 2024
Revolving loans		$	32.7	$	339.2
Term loan		397.5		400.0
4.50% Senior Notes	August 15, 2028	600.0		—
4.875% Senior Notes	March 15, 2023	—		400.0
Finance lease and other obligations		288.5		305.6
Total debt obligations		$	1,318.7	$	1,444.8
Less unamortized deferred financing costs		(16.0)		(12.4)
Total debt, net of deferred financing costs		$	1,302.7	$	1,432.4
Current portion of long-term debt		145.1		118.4
Long-term debt		$	1,157.6	$	1,314.0

Issuance of 4.50% Senior Notes and Repurchase and Redemption of 4.875% Senior Notes

On August 4, 2020, the Company issued $600 million aggregate principal amount of senior unsecured notes due August 15, 2028, which bear interest at a rate of 4.50% (the “4.50% Senior Notes”), at par in a private offering (the “Private Offering”). Interest on the 4.50% Senior Notes is payable semiannually in arrears on February 15 and August 15 of each year, beginning on February 15, 2021. The 4.50% 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 all of the Company’s existing and future subordinated indebtedness. The 4.50% Senior Notes are effectively subordinated to all secured indebtedness of the Company, including its existing credit facilities, to the extent of the value of the assets securing such indebtedness. The 4.50% Senior Notes are fully and unconditionally guaranteed on a senior unsecured, joint and several basis by the Company’s wholly-owned domestic restricted subsidiaries that guarantee its existing credit facilities, subject to certain exceptions.

The Company used a portion of the proceeds from the Private Offering to redeem all $400 million of its outstanding 4.875% Senior Notes due 2023 (the “4.875% Senior Notes”) on August 19, 2020 (the “Redemption Date”) at a redemption price equal to 100.813% of the principal amount of the 4.875% Senior Notes redeemed, plus accrued and unpaid interest to, but not including, the Redemption Date. The remaining net proceeds from the Private Offering were primarily used to repay revolving loans under the Company’s existing credit facilities.

The Company has the option to redeem all or a portion of the 4.50% Senior Notes at any time on or after August 15, 2023 at the redemption prices specified in the indenture that governs the 4.50% Senior Notes (the “4.50% Senior Notes Indenture”), plus accrued and unpaid interest, if any, to (but excluding) the redemption date. In addition, at any time prior to August 15, 2023, the Company may redeem all or a part of the 4.50% Senior Notes at a redemption price equal to 100% of the principal amount of the 4.50% Senior Notes redeemed, plus accrued and unpaid interest, if any, to (but excluding) the redemption date, plus a “make-whole” premium. Further, prior to August 15, 2023, the Company may redeem up to 40% of the aggregate principal amount of the 4.50% Senior Notes using the net cash proceeds of certain equity offerings, at a redemption price equal to 104.500% of the principal amount of the 4.50% Senior Notes redeemed, plus accrued and unpaid interest, if any, to (but excluding) the date of redemption, subject to certain conditions.

If the Company undergoes a change of control, as defined in the 4.50% Senior Notes Indenture, the Company must make an offer to repurchase all of the 4.50% Senior Notes then outstanding at a price equal to 101% of their principal amount, plus accrued and unpaid interest, if any, to (but excluding) the date of repurchase.

The 4.50% 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 liens, (ii) pay dividends, (iii) acquire shares of capital stock, (iv) make certain investments and (v) effect mergers. The 4.50% Senior Notes Indenture provides for customary events of default, subject to customary grace and cure periods. Generally, if an event of default occurs and is continuing, the trustee or holders of at least 30% of the 4.50% Senior Notes then outstanding may declare the principal of, premium, if any, and accrued interest on all of the 4.50% Senior Notes immediately due and payable. Financing costs incurred in connection with the issuance of the 4.50% Senior Notes totaled approximately $8.9 million. These deferred financing costs, which are reflected as a reduction of the carrying amount of the 4.50% Senior Notes, will be amortized over the term of the 4.50% Senior Notes using the effective interest method.

Management determined that the repurchase and redemption of the Company’s 4.875% Senior Notes should be accounted for as a debt extinguishment and recorded a pre-tax debt extinguishment loss of approximately $5.6 million for the year ended December 31, 2020, including $3.3 million of early repayment premiums and $2.3 million of unamortized deferred financing costs. This loss is separately disclosed within the Company’s consolidated statements of operations.

Senior Secured Credit Facility

The Credit Facility, which is a senior secured credit facility, has aggregate borrowing commitments of approximately $1.75 billion, which amount is composed of $1.35 billion of revolving commitments and a term loan in the aggregate principal amount of $400.0 million. The term loan is subject to amortization in quarterly principal installments of $2.5 million, which commenced in December 2020. This amount will increase to $5.0 million commencing in December 2021. Quarterly principal installments on the term loan are subject to adjustment, if applicable, for certain prepayments.

The Credit Facility allows the Company to borrow either in Canadian dollars and/or Mexican pesos, up to an aggregate equivalent amount of $300 million. The maximum amount available for letters of credit under the Credit Facility is $650 million, of which up to $200 million can be denominated in either Canadian dollars and/or Mexican pesos. The Credit Facility also provides for swing line loans of up to $125 million, and, subject to certain conditions, the Company has the option to increase revolving commitments and/or establish additional term loan tranches equal to the Incremental Facilities Limit (as defined in the Credit Facility). Subject to the terms and conditions described in the Credit Facility, these additional term loan tranches may rank equal or junior in respect of right of payment and/or collateral to the Credit Facility, and may, subject to certain limitations in the Credit Facility, have terms that differ from the Credit Facility. Borrowings under the Credit Facility are used for working capital requirements, capital expenditures and other corporate purposes, including equity investments, potential acquisitions or other strategic arrangements, the repurchase or prepayment of indebtedness, including repayment of term loans, and share repurchases.

Outstanding revolving loans and the term loan under the Credit Facility bear interest, at the Company’s option, at a rate equal to either (a) a Eurocurrency Rate, as defined in the Credit Facility, plus a margin of 1.25% to 1.75%, or (b) a Base Rate, as defined in the Credit Facility, plus a margin of 0.25% to 0.75%. The Base Rate equals the highest of (i) the Federal Funds Rate, as defined in the Credit Facility, plus 0.50%, (ii) Bank of America’s prime rate, and (iii) the Eurocurrency Rate plus 1.00%. Financial standby letters of credit and commercial letters of credit issued under the Credit Facility are subject to a letter of credit fee of 1.25% to 1.75%, and performance standby letters of credit issued under the Credit Facility are subject to a letter of credit fee of 0.375% to 0.75%. The Company must also pay a commitment fee to the lenders of 0.20% to 0.30% on any unused availability under the Credit Facility. In each of the foregoing cases, the applicable margin or fee is based on the Company’s Consolidated Leverage Ratio, as defined in the Credit Facility, as of the then most recent fiscal quarter.

As of December 31, 2020 and 2019, outstanding revolving loans, which included $33 million and $138 million, respectively, of borrowings denominated in foreign currencies, accrued interest at weighted average rates of approximately 1.87% and 3.50% per annum, respectively. The term loan accrued interest at a rate of 1.40% and 3.05% as of December 31, 2020 and 2019, respectively. Letters of credit of approximately $133.6 million and $98.0 million were issued as of December 31, 2020 and 2019, respectively. As of both December 31, 2020 and 2019, letter of credit fees accrued at 0.375% per annum for performance standby letters of credit and at 1.25% per annum for financial standby letters of credit. Outstanding letters of credit mature at various dates and most have automatic renewal provisions, subject to prior notice of cancellation. As of December 31,

2020 and 2019, availability for revolving loans totaled $1.2 billion and $0.9 billion, respectively, or up to $516.4 million and $552.0 million, respectively, for new letters of credit. Revolving loan borrowing capacity included $267.3 million and $162.4 million of availability in either Canadian dollars or Mexican pesos as of December 31, 2020 and 2019, respectively. The unused facility fee as of both December 31, 2020 and 2019 accrued at a rate of 0.20%.

The Credit Facility is guaranteed by certain subsidiaries of the Company (the “Guarantor Subsidiaries”) and the obligations under the Credit Facility are secured by substantially all of the Company’s and the Guarantor Subsidiaries’ respective assets, subject to certain exceptions. Under the Credit Facility, if the Loan Party EBITDA, as defined, as of the last four consecutive fiscal quarters does not represent at least 80% of the Adjusted Consolidated EBITDA, as defined in the Credit Facility, for such period, then the Company must designate additional subsidiaries as Guarantor Subsidiaries, and cause them to join the applicable guaranty and security agreements to the Credit Facility. Additionally, any domestic subsidiary with consolidated EBITDA of at least 15% of the Adjusted Consolidated EBITDA must become a Guarantor Subsidiary and join the applicable guaranty and security agreements.

The Credit Facility requires that the Company maintain a maximum Consolidated Leverage Ratio, as defined in the Credit Facility, of 3.50 times (subject to the Acquisition Adjustment described below). The Credit Facility also requires that the Company maintain a minimum Consolidated Interest Coverage Ratio, as defined in the Credit Facility, of 3.00 times. The Credit Facility provides that, for purposes of calculating the Consolidated Leverage Ratio, funded indebtedness excludes undrawn standby performance letters of credit and is further reduced by unrestricted cash over certain thresholds. Additionally, notwithstanding the terms discussed above, subject to certain conditions, if a Permitted Acquisition, as defined in the Credit Facility, or series of Permitted Acquisitions having consideration exceeding $100 million occurs during a fiscal quarter, the maximum Consolidated Leverage Ratio may be temporarily increased to up to 4.00 times 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 Credit Facility. Subject to customary exceptions, the Credit Facility limits the Borrowers’ (as defined in the Credit Facility) and the Guarantor Subsidiaries’ ability to engage in certain activities, including acquisitions, mergers and consolidations, debt incurrence, investments, asset sales, debt prepayments, lien incurrence and the making of cash distributions or repurchases of the Company’s common stock. However, distributions payable solely in common stock are not restricted. The Credit 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 and other remedies with respect to the collateral securing the Credit Facility obligations.

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. Borrowings under the Company’s foreign credit facilities, which have varying dates of maturity and are generally renewed on an annual basis, are denominated in Canadian dollars. As of both December 31, 2020 and 2019, maximum borrowing capacity under these credit facilities totaled Canadian $20.0 million, or approximately $15.7 million and $15.4 million, respectively, and there were no outstanding borrowings. Outstanding borrowings that are not renewed are repaid with borrowings under the Credit Facility. Accordingly, the carrying amounts of the Company’s borrowings under its other credit facilities, if any, are included within other debt obligations in the table above and classified within long-term debt in the Company’s consolidated balance sheets. Additionally, the Company has a separate credit facility, which is renewable on an annual basis, under which it may issue up to $50.0 million of performance standby letters of credit. As of December 31, 2020 and 2019, letters of credit issued under this facility totaled $18.2 million and $17.1 million, respectively, and accrued fees at 0.50% and 0.40% per annum, respectively. The Company’s other credit facilities are subject to customary provisions and covenants.

Debt Covenants

MasTec was in compliance with the provisions and covenants of its outstanding debt instruments as of December 31, 2020 and 2019.

Contractual Maturities of Debt

Contractual maturities of MasTec’s debt, which includes finance lease obligations, as of December 31, 2020 were as follows (in millions):


2021	$	145.1
2022	117.5
2023	66.5
2024	389.2
2025	0.4
Thereafter	600.0
Total	$	1,318.7

As of December 31, 2020 and 2019, accrued interest payable, which is recorded within other accrued expenses in the consolidated balance sheets, totaled $12.4 million and $7.5 million, respectively.

Equity (Rollforward of Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accumulated Other Comprehensive Loss [Line Items]
Accumulated other comprehensive loss, beginning balance	$ (75,706)	$ (60,494)	$ (63,712)
Unrealized gains (losses), net of tax	(15,738)	(15,212)	3,218
Accumulated other comprehensive loss, ending balance	(91,444)	(75,706)	(60,494)
Foreign Currency [Member]
Accumulated Other Comprehensive Loss [Line Items]
Accumulated other comprehensive loss, beginning balance	(65,685)	(65,496)	(62,851)
Unrealized gains (losses), net of tax	1,413	(189)	(2,645)
Accumulated other comprehensive loss, ending balance	(64,272)	(65,685)	(65,496)
Other [Member]
Accumulated Other Comprehensive Loss [Line Items]
Accumulated other comprehensive loss, beginning balance	(10,021)	5,002	(861)
Unrealized gains (losses), net of tax	(17,151)	(15,023)	5,863
Accumulated other comprehensive loss, ending balance	$ (27,172)	$ (10,021)	$ 5,002

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References + Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

+ Details

Stock-Based Compensation and Other Employee Benefit Plans (Schedule of Employee Stock Purchase Plans) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Stock-Based Compensation and Other Employee Benefit Plans [Line Items]
Cash proceeds (in dollars)	$ 7,090	$ 4,655	$ 4,047
Common shares issued (in shares)	239,322	111,136	110,506
Weighted average price per share purchased under employee stock purchase plans	$ 29.61	$ 42.46	$ 37.98
Weighted average per share grant date fair value (in dollars per share)	$ 9.08	$ 10.71	$ 9.36
Employee Stock Purchase Plans [Member]
Stock-Based Compensation and Other Employee Benefit Plans [Line Items]
Cash proceeds (in dollars)	$ 7,100	$ 4,700	$ 4,200

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2020
Related Party Transactions [Abstract]
Related Party Transactions	Note 15 – 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 and business development 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 years ended December 31, 2020, 2019 and 2018, such payments to related party entities totaled approximately $80.9 million, $108.0 million and $134.4 million, respectively. Payables associated with such arrangements totaled approximately $8.9 million and $14.7 million as of December 31, 2020 and 2019, respectively. Revenue from such related party arrangements totaled approximately $4.1 million, $2.3 million and $10.3 million for the years ended December 31, 2020, 2019 and 2018. Related amounts receivable, net, as of December 31, 2020 totaled approximately $0.5 million, and as of December 31, 2019, were de minimis. In 2018, MasTec acquired a construction management firm specializing in steel building systems, of which 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, was a minority owner, for approximately $6.1 million in cash and an estimated earn-out liability of approximately $1.4 million, net, as adjusted. Amounts outstanding for advances made by the Company on behalf of this entity, net, totaled approximately $0.1 million and $0.5 million as of December 31, 2020 and 2019, respectively, which are expected to be settled under customary terms associated with the related purchase agreement. The Company rents and leases equipment and purchases equipment supplies and servicing from CCI. Juan Carlos Mas 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 years ended December 31, 2020, 2019 and 2018, MasTec paid CCI $6.8 million, $41.7 million and $57.6 million, net of rebates, respectively, related to this activity. Amounts payable to CCI, net of rebates receivable, totaled approximately $4.2 million and $0.2 million as of December 31, 2020 and 2019, respectively. The Company has also rented equipment to CCI. Revenue from equipment rentals to CCI totaled approximately $0.9 million for the year ended December 31, 2020, for which the related receivables were de minimis as of December 31, 2020. 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 years ended December 31, 2020, 2019 and 2018, MasTec incurred subcontracting expenses of approximately $1.9 million, $10.3 million and $9.9 million, respectively, under these arrangements. As of December 31, 2020 and 2019, related amounts payable totaled approximately $1.4 million and $0.2 million, respectively. MasTec has a leasing arrangement for an aircraft that is owned by an entity that Jorge Mas owns. For the years ended December 31, 2020, 2019 and 2018, MasTec paid approximately $2.6 million, $2.4 million and $2.7 million, respectively, related to this leasing arrangement. MasTec performs construction services on behalf of a professional Miami soccer franchise (the “Franchise”) in which Jorge Mas and José R. Mas are minority owners. Services provided by MasTec include the construction of a soccer facility and stadium as well as wireless infrastructure services. For the years ended December 31, 2020 and 2019, MasTec charged approximately $7.1 million and $12.6 million under these arrangements, respectively. Amounts outstanding as of December 31, 2020 were de minimis, and as of December 31, 2019, totaled approximately $3.9 million. Payments for other expenses related to the Franchise totaled $0.3 million for the year ended December 31, 2020, and as of December 31, 2020, there were no amounts outstanding. MasTec leases employees and provides satellite communications services to a customer in which Jorge Mas and José R. Mas own a majority interest. For the years ended December 31, 2020, 2019 and 2018, charges to this customer totaled approximately $1.3 million, $1.4 million and $1.7 million, respectively, related to these arrangements. As of December 31, 2020 and 2019, outstanding receivables totaled approximately $0.9 million and $0.8 million, respectively. The Company has a 25% interest in an entity associated with an acquisition, under which the acquired business and the entity have a subcontracting arrangement. The Company’s interest in this entity is accounted for as an equity method investment. For the year ended December 31, 2020, MasTec received payments totaling approximately $0.4 million from this investee, and as of December 31, 2020, the Company’s net investment in this entity was a liability of approximately $2.0 million, which net amount includes approximately $1.9 million of accounts receivable, net, less deferred revenue, related to the subcontracting arrangement. Additionally, the Company has a strategic arrangement with an entity associated with a separate acquisition, in which members of management of the acquired business have an ownership interest. For the year ended December 31, 2020, approximately $0.9 million of income and recovery of costs was recognized in connection with this arrangement, and as of December 31, 2020, amounts receivable totaled $0.4 million. In addition, for the year ended December 31, 2020, the Company advanced $1.2 million on behalf of this entity, which amount was collected as of December 31, 2020. One of the Company’s subsidiaries has a subcontracting arrangement with a contractual joint venture in which it holds a 35% undivided interest, for which the related project was complete as of December 31, 2020. Outstanding performance guarantees on behalf of this contractual joint venture totaled Canadian $26.4 million as of both December 31, 2020 and 2019, or approximately $20.7 million and $20.3 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. Split Dollar Agreements MasTec has an amended and restated split dollar life insurance agreement with (i) Jorge Mas, and José R. Mas and Juan Carlos Mas, as trustees of the Jorge Mas Irrevocable Trust (the “Jorge Mas trust”); and (ii) José R. Mas, and Jorge Mas, Juan Carlos Mas and Patricia Mas, as trustees of the José Ramon Mas Irrevocable Trust (the “José R. Mas trust”). The Company is the sole owner of each of the policies and is designated as the named fiduciary under each split dollar agreement, and the policies subject to the split dollar agreement may not be surrendered without the express written consent of the applicable trust. The total maximum face amount of the insurance policies subject to the split dollar agreements is capped at $200 million in the case of Jorge Mas and $75 million in the case of José R. Mas. Upon the death of the applicable executive or the survivor of the applicable executive and his wife, the Company is entitled to receive a portion of the death benefit under the policy equal to the greater of (i) premiums paid by the Company on the policy and (ii) the then cash value of the policy (excluding surrender charges or other similar charges or reductions) immediately before the triggering death. In addition, each executive is entitled to purchase the applicable policy under certain events, including a change in control of the Company. The Company paid approximately $1.1 million in each of the years ended December 31, 2020, 2019 and 2018 in connection with the split dollar agreements for Jorge Mas, and paid approximately $0.7 million in each of the years ended December 31, 2020, 2019 and 2018 in connection with the split dollar agreements for José R. Mas. Life insurance assets associated with these agreements, which amounts are included within other long-term assets, totaled approximately $22.2 million and $20.3 million as of December 31, 2020 and 2019, respectively.

Income Taxes (Schedule of Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Accrued insurance	$ 31,100	$ 28,600
Operating loss carryforwards and tax credits	82,100	70,500
Compensation and benefits	32,800	16,800
Bad debt	3,700	900
Other	12,300	11,500
Valuation allowance	(45,800)	(48,800)
Total deferred tax assets	116,200	79,500
Deferred tax liabilities:
Property and equipment	205,000	179,500
Goodwill	58,700	49,600
Other intangible assets	30,700	35,000
Gain on remeasurement of equity investee	7,000	7,000
Revenue recognition	22,400	20,600
Investments in unconsolidated entities	79,800	74,000
Other	15,500	10,100
Total deferred tax liabilities	419,100	375,800
Net deferred tax liabilities	$ (302,938)	$ (296,326)

Lease Obligations

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Lease Obligations

Note 8 – Lease Obligations

Finance Leases

The gross amount of assets held under finance leases as of December 31, 2020 and 2019 totaled $563.0 million and $463.5 million, respectively. Assets held under finance leases, net of accumulated depreciation, totaled $418.7 million and $375.9 million as of December 31, 2020 and 2019, respectively. Depreciation expense associated with finance leases totaled $68.0 million and $48.6 million for the years ended December 31, 2020 and 2019, respectively.

Operating Leases

Operating lease additions for the years ended December 31, 2020 and 2019 totaled $28.0 million and $103.3 million, respectively, and the effect of adoption in 2019 of ASU 2016-02, Leases (Topic 842) was approximately $230.0 million.

For the years ended December 31, 2020 and 2019, rent expense for leases that have terms in excess of one year totaled approximately $113.0 million and $114.5 million, respectively, of which $10.0 million and $10.4 million, respectively, represented variable lease costs. The Company also incurred rent expense for leases with terms of one year or less totaling approximately $312.0 million and $448.2 million for the years ended December 31, 2020 and 2019, respectively. For the year ended December 31, 2018, rent and related expense for leases that have non-cancelable terms in excess of one year totaled approximately $115.0 million, and rent and related expense for leases having original terms of one year or less totaled approximately $472.1 million. 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 December 31, 2020 were as follows (in millions):


	Finance Leases		Operating Leases
2021	$	141.5	$	82.8
2022	101.5		49.2
2023	47.6		25.4
2024	11.7		16.2
2025	0.5		10.4
Thereafter	—		20.0
Total minimum lease payments	$	302.8	$	204.0
Less amounts representing interest	(14.3)		(15.0)
Total lease obligations, net of interest	$	288.5	$	189.0
Less current portion	132.6		72.5
Long-term portion of lease obligations, net of interest	$	155.9	$	116.5

As of December 31, 2020, finance leases had a weighted average remaining lease term of 2.4 years and a weighted average discount rate of 3.9%. Non-cancelable operating leases had a weighted average remaining lease term of 3.9 years and a weighted average discount rate of 3.7% as of December 31, 2020.

Lease Obligations Lease Obligations (Additional Lease Information) (Narrative) (Details) (Details)	Dec. 31, 2020
Lessee, Lease, Description [Line Items]
Finance lease, weighted average remaining lease term (in years)	2 years 4 months 24 days
Finance lease, weighted average discount rate, percent	3.90%
Operating lease, weighted average remaining lease term (in years)	3 years 10 months 24 days
Operating lease, weighted average discount rate, percent	3.70%

Related Party Transactions (Executive Officers) (Narrative) (Details)	12 Months Ended
	Dec. 31, 2020 USD ($) numberOfEmployees	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Management [Member] \| Subcontracting Arrangements [Member]
Related Party Transaction [Line Items]
Number of management members, subcontracting arrangement \| numberOfEmployees	2
Payments or expenses, related party	$ 1,900,000	$ 10,300,000	$ 9,900,000
Payables, related party	1,400,000	200,000
Executive Officers [Member] \| Related Customer [Member]
Related Party Transaction [Line Items]
Receivables, related party	900,000	800,000
Charges, related party	1,300,000	1,400,000	1,700,000
Executive Officers [Member] \| Construction Services [Member]
Related Party Transaction [Line Items]
Payments or expenses, related party	300,000
Payables, related party	0
Revenue, related party	7,100,000	12,600,000
Receivables, related party		3,900,000
Chairman, Board of Directors [Member] \| Leases [Member]
Related Party Transaction [Line Items]
Payments or expenses, related party	$ 2,600,000	$ 2,400,000	$ 2,700,000

Goodwill and Other Intangible Assets (Pro Forma Financial Information and Acquisition Results) (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Business Combinations [Abstract]
Business combinations, unaudited supplemental pro forma revenue	$ 6,400.0	$ 7,600.0	$ 7,400.0
Business combinations, unaudited supplemental pro forma net income	334.5	406.6	258.7
Business combinations, consolidated acquisition-related revenue	229.9	188.3	154.4
Business combinations, consolidated acquisition-related net income	$ (6.7)	$ (1.4)	$ 1.4

Business, Basis of Presentation and Significant Accounting Policies (Revenue Recognition) (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue [Line Items]
Revenue recognition, performance obligations satisfied in previous periods, revenue recognized (in dollars)	$ 13.5	$ 58.3	$ 38.5
Contract with customer, unapproved change orders and/or claims, amount (in dollars)	$ 51.0	$ 27.0
Maximum [Member]
Revenue [Line Items]
Revenue recognition, changes in contract estimates, cost-to-cost method, financial effect, percentage	5.00%	5.00%	5.00%
Change order or claim approval process, term within which expected to be completed (in years)	1 year
Revenue Benchmark [Member] \| Concentration Risk from Type of Arrangement [Member] \| Master Service and Other Service Agreements [Member]
Revenue [Line Items]
Concentration risk, percentage of total	36.00%	36.00%	35.00%
Revenue Benchmark [Member] \| Concentration Risk from Type of Arrangement [Member] \| Master Service and Other Service Agreements [Member] \| Point in Time [Member]
Revenue [Line Items]
Concentration risk, percentage of total	5.00%	5.00%	7.00%
Mobilization Costs [Member]
Revenue [Line Items]
Capitalized mobilization costs, net	$ 5.5

Segments and Related Information (Foreign Operations) (Narrative) (Details) - USD ($) $ in Thousands				3 Months Ended								12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment and Related Information [Line Items]
Revenue				$ 1,636,800	$ 1,698,300	$ 1,569,300	$ 1,416,600	$ 1,709,300	$ 2,016,600	$ 1,939,000	$ 1,518,300	$ 6,320,975	$ 7,183,188	$ 6,909,417
Property and equipment, net	$ 982,328	$ 905,835		982,328				905,835				$ 982,328	$ 905,835
Revenue Benchmark [Member] \| Customer Concentration Risk [Member] \| Government transactions [Member]
Segment and Related Information [Line Items]
Concentration risk, percentage of total												2.00%	1.00%	1.00%
United States [Member]
Segment and Related Information [Line Items]
Revenue												$ 6,200,000	$ 6,900,000	$ 6,700,000
Property and equipment, net	959,500	874,700	$ 707,400	959,500				874,700				959,500	874,700	707,400
Intangible assets and goodwill, net	1,400,000	1,400,000	1,200,000	1,400,000				1,400,000				1,400,000	1,400,000	1,200,000
Foreign Operations [Member]
Segment and Related Information [Line Items]
Revenue												133,100	233,500	164,300
Property and equipment, net	22,800	31,100	40,400	22,800				31,100				22,800	31,100	40,400
Intangible assets and goodwill, net	$ 50,500	$ 56,400	$ 61,500	$ 50,500				$ 56,400				$ 50,500	$ 56,400	$ 61,500
Foreign Operations [Member] \| Accounts Receivable, Net, Less Contract Liabilities [Member] \| Geographic Concentration Risk [Member]
Segment and Related Information [Line Items]
Concentration risk, percentage of total	5.00%	5.00%	5.00%

Equity (Tables)

12 Months Ended

Dec. 31, 2020

Accumulated Other Comprehensive Loss

Rollforward of Accumulated Other Comprehensive Loss

A rollforward of activity within accumulated other comprehensive income (loss) for the periods indicated was as follows (in thousands):


	For the Years Ended December 31,
	2020						2019						2018
	Foreign Currency		Other		Total		Foreign Currency		Other		Total		Foreign Currency		Other		Total
Balance as of January 1	$	(65,685)	$	(10,021)	$	(75,706)	$	(65,496)	$	5,002	$	(60,494)	$	(62,851)	$	(861)	$	(63,712)
Unrealized gains (losses), net of tax	1,413		(17,151)		(15,738)		(189)		(15,023)		(15,212)		(2,645)		5,863		3,218
Balance as of December 31	$	(64,272)	$	(27,172)	$	(91,444)	$	(65,685)	$	(10,021)	$	(75,706)	$	(65,496)	$	5,002	$	(60,494)

Unrealized foreign currency translation activity, net, for the three years in the period ended December 31, 2020 relates to the Company’s operations in Canada and Mexico. For the year ended December 31, 2020, unrealized investment activity, net, includes unrealized losses on the Waha JV swaps, offset, in part, by unrealized gains on the AVCT convertible debentures. Unrealized investment activity, net, for the years ended December 31, 2019 and 2018 relates to the Waha JV swaps.

Commitments and Contingencies (Legal, Letters of Credit, Bonds, Self-Insurance) (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Commitments and Contingencies [Line Items]
Letters of credit issued	$ 151.8	$ 115.1
Self-Insurance [Member] \| Workers' Compensation, General and Automobile Policies [Member]
Commitments and Contingencies [Line Items]
Self-insurance reserve	129.6	123.4
Self-Insurance [Member] \| Workers' Compensation, General and Automobile Policies [Member] \| Other Long-Term Liabilities [Member]
Commitments and Contingencies [Line Items]
Self-insurance reserve, non-current	86.1	87.3
Self-Insurance [Member] \| Employee Group Medical Claims Policy [Member]
Commitments and Contingencies [Line Items]
Self-insurance reserve	4.3	4.2
Performance and Payment Bonds [Member]
Commitments and Contingencies [Line Items]
Bonded projects, estimated costs to complete	263.2	194.7
Performance and Payment Bonds [Member] \| Subsidiaries [Member]
Commitments and Contingencies [Line Items]
Outstanding bonds, amount	764.8	551.4
Financial Guarantees [Member] \| Self-Insurance [Member] \| Workers' Compensation, General and Automobile Policies [Member]
Commitments and Contingencies [Line Items]
Letters of credit issued	59.3	64.0
Surety Bonds [Member] \| Self-Insurance [Member] \| Workers' Compensation [Member]
Commitments and Contingencies [Line Items]
Outstanding bonds, amount	$ 37.4	$ 38.5

Other Retirement Plans (Schedule of Multiemployer Pension Plans) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Multiemployer Plans [Line Items]
Multiemployer pension plans, contributions (in dollars)	$ 37.5	$ 72.6	$ 99.7
Multiemployer plan, pension, insignificant, employer contribution, cost	$ 5.0	$ 10.7	13.5
Central Pension Fund Of IUOE And Participating Employers [Member]
Multiemployer Plans [Line Items]
Multiemployer pension plans, employer identification number	366052390
Multiemployer pension plans, plan number	001
Multiemployer pension plans, collective bargaining arrangement, expiration date	May 31, 2023
Multiemployer pension plans, funding improvement plan and rehabilitation plan status	NA
Multiemployer pension plans, surcharge	No
Multiemployer plan, pension, significant, certified zone status [Fixed List]	Green	Green
Multiemployer plan, pension, significant, certified zone status, date	Jan. 31, 2020	Jan. 31, 2019
Multiemployer plan, pension, significant, employer contribution, cost	$ 5.6	$ 12.6	20.4
IBEW Local 1249 Pension Plan [Member]
Multiemployer Plans [Line Items]
Multiemployer pension plans, employer identification number	156035161
Multiemployer pension plans, plan number	001
Multiemployer pension plans, collective bargaining arrangement, expiration date	May 02, 2021
Multiemployer pension plans, funding improvement plan and rehabilitation plan status	NA
Multiemployer pension plans, surcharge	No
Multiemployer plan, pension, significant, certified zone status [Fixed List]	Green	Green
Multiemployer plan, pension, significant, certified zone status, date	Dec. 31, 2019	Dec. 31, 2018
Multiemployer plan, pension, significant, employer contribution, cost	$ 3.7	$ 3.2	2.2
Pipeline Industry Pension Fund [Member]
Multiemployer Plans [Line Items]
Multiemployer pension plans, employer identification number	736146433
Multiemployer pension plans, plan number	001
Multiemployer pension plans, collective bargaining arrangement, expiration date	May 31, 2023
Multiemployer pension plans, funding improvement plan and rehabilitation plan status	NA
Multiemployer pension plans, surcharge	No
Multiemployer plan, pension, significant, certified zone status [Fixed List]	Green	Green
Multiemployer plan, pension, significant, certified zone status, date	Dec. 31, 2019	Dec. 31, 2018
Multiemployer plan, pension, significant, employer contribution, cost	$ 2.6	$ 9.6	20.7
Multiemployer pension plans, Company contributions greater than 5% of total plan contributions	true	true
Teamsters National Pipe Line Pension Plan [Member]
Multiemployer Plans [Line Items]
Multiemployer pension plans, employer identification number	461102851
Multiemployer pension plans, plan number	001
Multiemployer pension plans, collective bargaining arrangement, expiration date	May 31, 2023
Multiemployer pension plans, funding improvement plan and rehabilitation plan status	NA
Multiemployer pension plans, surcharge	No
Multiemployer plan, pension, significant, certified zone status [Fixed List]	Green	Green
Multiemployer plan, pension, significant, certified zone status, date	Dec. 31, 2019	Dec. 31, 2018
Multiemployer plan, pension, significant, employer contribution, cost	$ 1.8	$ 4.5	7.4
Multiemployer pension plans, Company contributions greater than 5% of total plan contributions	true	true
Laborers' District Council of Western Pennsylvania Pension Fund [Member]
Multiemployer Plans [Line Items]
Multiemployer pension plans, employer identification number	256135576
Multiemployer pension plans, plan number	001
Multiemployer pension plans, collective bargaining arrangement, expiration date	May 31, 2023
Multiemployer pension plans, funding improvement plan and rehabilitation plan status	Implemented
Multiemployer pension plans, surcharge	No
Multiemployer plan, pension, significant, certified zone status [Fixed List]	Yellow	Yellow
Multiemployer plan, pension, significant, certified zone status, date	Dec. 31, 2019	Dec. 31, 2018
Multiemployer plan, pension, significant, employer contribution, cost	$ 1.8	$ 1.9	1.4
National Electrical Benefit Fund [Member]
Multiemployer Plans [Line Items]
Multiemployer pension plans, employer identification number	530181657
Multiemployer pension plans, plan number	001
Multiemployer pension plans, funding improvement plan and rehabilitation plan status	NA
Multiemployer pension plans, surcharge	No
Multiemployer plan, pension, significant, certified zone status [Fixed List]	Green	Green
Multiemployer plan, pension, significant, certified zone status, date	Dec. 31, 2019	Dec. 31, 2018
Multiemployer plan, pension, significant, employer contribution, cost	$ 1.6	$ 1.2	1.4
National Electrical Benefit Fund [Member] \| Maximum [Member]
Multiemployer Plans [Line Items]
Multiemployer pension plans, collective bargaining arrangement, expiration date	Dec. 31, 2023
West Virginia Laborers' Pension Trust Fund [Member]
Multiemployer Plans [Line Items]
Multiemployer pension plans, employer identification number	556026775
Multiemployer pension plans, plan number	001
Multiemployer pension plans, collective bargaining arrangement, expiration date	May 31, 2023
Multiemployer pension plans, funding improvement plan and rehabilitation plan status	NA
Multiemployer pension plans, surcharge	No
Multiemployer plan, pension, significant, certified zone status [Fixed List]	Green	Green
Multiemployer plan, pension, significant, certified zone status, date	Mar. 31, 2020	Mar. 31, 2019
Multiemployer plan, pension, significant, employer contribution, cost	$ 1.4	$ 4.9	4.5
Multiemployer pension plans, Company contributions greater than 5% of total plan contributions	true	true
International Union of Operating Engineers Local 132 Pension Fund [Member]
Multiemployer Plans [Line Items]
Multiemployer pension plans, employer identification number	556015364
Multiemployer pension plans, plan number	001
Multiemployer pension plans, collective bargaining arrangement, expiration date	May 31, 2023
Multiemployer pension plans, funding improvement plan and rehabilitation plan status	NA
Multiemployer pension plans, surcharge	No
Multiemployer plan, pension, significant, certified zone status [Fixed List]	Green	Green
Multiemployer plan, pension, significant, certified zone status, date	Mar. 31, 2020	Mar. 31, 2019
Multiemployer plan, pension, significant, employer contribution, cost	$ 1.2	$ 5.0	5.6
Multiemployer pension plans, Company contributions greater than 5% of total plan contributions	true	true
Midwest Operating Engineers Pension Trust Fund [Member]
Multiemployer Plans [Line Items]
Multiemployer pension plans, employer identification number	366140097
Multiemployer pension plans, plan number	001
Multiemployer pension plans, collective bargaining arrangement, expiration date	May 31, 2023
Multiemployer plans, pension protection act zone status, extended amortization provisions	true	true
Multiemployer pension plans, funding improvement plan and rehabilitation plan status	NA
Multiemployer pension plans, surcharge	No
Multiemployer plan, pension, significant, certified zone status [Fixed List]	Green	Yellow
Multiemployer plan, pension, significant, certified zone status, date	Mar. 31, 2020	Mar. 31, 2019
Multiemployer plan, pension, significant, employer contribution, cost	$ 1.1	$ 1.8	1.5
Laborers' Local Union No. 158 Pension Fund [Member]
Multiemployer Plans [Line Items]
Multiemployer pension plans, employer identification number	236580323
Multiemployer pension plans, plan number	001
Multiemployer pension plans, collective bargaining arrangement, expiration date	May 31, 2023
Multiemployer pension plans, funding improvement plan and rehabilitation plan status	NA
Multiemployer pension plans, surcharge	No
Multiemployer plan, pension, significant, certified zone status [Fixed List]	Green	Green
Multiemployer plan, pension, significant, certified zone status, date	Dec. 31, 2019	Dec. 31, 2018
Multiemployer plan, pension, significant, employer contribution, cost	$ 0.9	$ 1.5	1.5
Multiemployer pension plans, Company contributions greater than 5% of total plan contributions	true	true
Central Laborers Pension Fund [Member]
Multiemployer Plans [Line Items]
Multiemployer pension plans, employer identification number	376052379
Multiemployer pension plans, plan number	001
Multiemployer pension plans, collective bargaining arrangement, expiration date	May 31, 2023
Multiemployer plans, pension protection act zone status, extended amortization provisions	true	true
Multiemployer pension plans, funding improvement plan and rehabilitation plan status	Implemented
Multiemployer pension plans, surcharge	No
Multiemployer plan, pension, significant, certified zone status [Fixed List]	Yellow	Yellow
Multiemployer plan, pension, significant, certified zone status, date	Dec. 31, 2019	Dec. 31, 2018
Multiemployer plan, pension, significant, employer contribution, cost	$ 0.8	$ 1.3	0.9
Laborers' National Pension Fund [Member]
Multiemployer Plans [Line Items]
Multiemployer pension plans, employer identification number	751280827
Multiemployer pension plans, plan number	001
Multiemployer pension plans, collective bargaining arrangement, expiration date	May 31, 2023
Multiemployer pension plans, funding improvement plan and rehabilitation plan status	Implemented
Multiemployer pension plans, surcharge	No
Multiemployer plan, pension, significant, certified zone status [Fixed List]	Red	Red
Multiemployer plan, pension, significant, certified zone status, date	Dec. 31, 2019	Dec. 31, 2018
Multiemployer plan, pension, significant, employer contribution, cost	$ 0.8	$ 3.0	4.1
Multiemployer pension plans, Company contributions greater than 5% of total plan contributions		true
Employer- Teamsters Local Nos. 175 & 505 Pension Trust Fund [Member]
Multiemployer Plans [Line Items]
Multiemployer pension plans, employer identification number	556021850
Multiemployer pension plans, plan number	001
Multiemployer pension plans, collective bargaining arrangement, expiration date	May 31, 2023
Multiemployer plans, pension protection act zone status, extended amortization provisions	true	true
Multiemployer pension plans, funding improvement plan and rehabilitation plan status	Implemented
Multiemployer pension plans, surcharge	No
Multiemployer plan, pension, significant, certified zone status [Fixed List]	Red	Red
Multiemployer plan, pension, significant, certified zone status, date	Dec. 31, 2019	Dec. 31, 2018
Multiemployer plan, pension, significant, employer contribution, cost	$ 0.6	$ 1.7	1.5
Multiemployer pension plans, Company contributions greater than 5% of total plan contributions	true	true
Laborers District Council & Contractors Pension Fund of Ohio [Member]
Multiemployer Plans [Line Items]
Multiemployer pension plans, employer identification number	316129964
Multiemployer pension plans, plan number	001
Multiemployer pension plans, collective bargaining arrangement, expiration date	May 31, 2023
Multiemployer pension plans, funding improvement plan and rehabilitation plan status	NA
Multiemployer pension plans, surcharge	No
Multiemployer plan, pension, significant, certified zone status [Fixed List]	Green	Green
Multiemployer plan, pension, significant, certified zone status, date	Dec. 31, 2019	Dec. 31, 2018
Multiemployer plan, pension, significant, employer contribution, cost	$ 0.4	$ 1.4	1.8
Michigan Laborers Pension Fund [Member]
Multiemployer Plans [Line Items]
Multiemployer pension plans, employer identification number	386233976
Multiemployer pension plans, plan number	001
Multiemployer pension plans, collective bargaining arrangement, expiration date	May 31, 2023
Multiemployer plans, pension protection act zone status, extended amortization provisions		true
Multiemployer pension plans, funding improvement plan and rehabilitation plan status	Implemented
Multiemployer pension plans, surcharge	No
Multiemployer plan, pension, significant, certified zone status [Fixed List]	Yellow	Yellow
Multiemployer plan, pension, significant, certified zone status, date	Aug. 31, 2020	Aug. 31, 2019
Multiemployer plan, pension, significant, employer contribution, cost	$ 0.4	$ 1.1	1.5
Laborers' Pension Fund of Roanoke, Virginia [Member]
Multiemployer Plans [Line Items]
Multiemployer pension plans, employer identification number	546111015
Multiemployer pension plans, plan number	001
Multiemployer pension plans, collective bargaining arrangement, expiration date	May 31, 2023
Multiemployer pension plans, funding improvement plan and rehabilitation plan status	NA
Multiemployer pension plans, surcharge	No
Multiemployer plan, pension, significant, certified zone status [Fixed List]	Green	Green
Multiemployer plan, pension, significant, certified zone status, date	Sep. 30, 2019	Sep. 30, 2018
Multiemployer plan, pension, significant, employer contribution, cost	$ 0.3	$ 1.5	2.5
Multiemployer pension plans, Company contributions greater than 5% of total plan contributions	true	true
Pension Plans [Member]
Multiemployer Plans [Line Items]
Multiemployer pension plans, contributions (in dollars)	$ 30.0	$ 66.9	$ 92.4

Segments and Related Information (Reconciliation of Consolidated Income before Income Taxes to EBITDA) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
EBITDA Reconciliation:
Income before income taxes	$ 425,164	$ 510,939	$ 365,303
Interest expense, net	59,629	77,026	82,571
Depreciation	258,841	212,485	192,332
Amortization of intangible assets	38,910	22,997	20,598
EBITDA	$ 782,500	$ 823,400	$ 660,800

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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+ Details

Segments and Related Information (Schedule of Financial Information by Reportable Segment - Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Assets:
Assets	$ 5,227,849	$ 4,997,006	$ 4,440,000
Reportable Segments [Member] \| Communications [Member]
Assets:
Assets	1,941,900	1,958,100	1,461,700
Reportable Segments [Member] \| Clean Energy and Infrastructure
Assets:
Assets	653,700	570,500	358,700
Reportable Segments [Member] \| Oil and Gas [Member]
Assets:
Assets	1,631,100	1,762,400	1,965,300
Reportable Segments [Member] \| Electrical Transmission [Member]
Assets:
Assets	541,600	463,900	423,900
Reportable Segments [Member] \| Other [Member]
Assets:
Assets	191,800	192,200	193,900
Corporate [Member]
Assets:
Assets	$ 267,700	$ 49,900	$ 36,500

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

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+ Details

Business, Basis of Presentation and Significant Accounting Policies (Goodwill and Indefinite-Lived Intangible Assets) (Narrative) (Details)	3 Months Ended	12 Months Ended
	Dec. 31, 2019 USD ($) yr	Dec. 31, 2020 USD ($) yr component reportingunit	Dec. 31, 2019 USD ($) yr component reportingunit	Dec. 31, 2018 USD ($) component reportingunit
Goodwill and Indefinite-Lived Intangible Assets [Line Items]
Goodwill, carrying amount (in dollars)	$ 1,221,440,000	$ 1,243,034,000	$ 1,221,440,000	$ 1,100,400,000
Intangible asset, pre-tax impairment charge			3,300,000	0
Goodwill, pre-tax impairment charge				47,700,000
Pre-Qualifications [Member]
Goodwill and Indefinite-Lived Intangible Assets [Line Items]
Intangible asset, pre-tax impairment charge	3,300,000		3,300,000
Indefinite-lived intangible assets, carrying amount (in dollars)	$ 72,900,000	$ 0	$ 72,900,000	$ 74,000,000.0
Goodwill [Member]
Goodwill and Indefinite-Lived Intangible Assets [Line Items]
Discount rate sensitivity analysis, spread on discount rate for which evaluation was completed (percentage)		1.00%	1.00%
Terminal Growth Rate [Member] \| Minimum [Member]
Goodwill and Indefinite-Lived Intangible Assets [Line Items]
Goodwill impairment testing, measurement input	0.030	0.025	0.030
Number of Years of Discounted Cash Flows [Member] \| Minimum [Member]
Goodwill and Indefinite-Lived Intangible Assets [Line Items]
Goodwill impairment testing, measurement input \| yr	5	5	5
Number of Years of Discounted Cash Flows [Member] \| Maximum [Member]
Goodwill and Indefinite-Lived Intangible Assets [Line Items]
Goodwill impairment testing, measurement input \| yr	9	9	9
Number of Years of Discounted Cash Flows [Member] \| Maximum [Member] \| Pre-Qualifications [Member]
Goodwill and Indefinite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets, impairment testing, measurement input \| yr	4		4
Discount Rate [Member] \| Pre-Qualifications [Member]
Goodwill and Indefinite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets, impairment testing, measurement input	0.13		0.13
Discount Rate [Member] \| Minimum [Member]
Goodwill and Indefinite-Lived Intangible Assets [Line Items]
Goodwill impairment testing, measurement input	0.130	0.130	0.130
Discount Rate [Member] \| Maximum [Member]
Goodwill and Indefinite-Lived Intangible Assets [Line Items]
Goodwill impairment testing, measurement input	0.160	0.150	0.160
Clean Energy and Infrastructure
Goodwill and Indefinite-Lived Intangible Assets [Line Items]
Number of aggregated components in reporting unit \| component		2	2	2
Goodwill, carrying amount (in dollars)	$ 152,600,000	$ 152,700,000	$ 152,600,000	$ 143,100,000
Communications [Member]
Goodwill and Indefinite-Lived Intangible Assets [Line Items]
Number of aggregated components in reporting unit \| component		1	1	1
Goodwill impairment testing, number of reporting units \| reportingunit		1	1	2
Goodwill, carrying amount (in dollars)	541,300,000	$ 562,100,000	$ 541,300,000	$ 467,800,000
Oil and Gas [Member]
Goodwill and Indefinite-Lived Intangible Assets [Line Items]
Number of aggregated components in reporting unit \| component		1	1	1
Goodwill impairment testing, number of reporting units \| reportingunit		3	3	3
Goodwill, carrying amount (in dollars)	377,600,000	$ 378,100,000	$ 377,600,000	$ 339,600,000
Oil and Gas [Member] \| Pre-Qualifications [Member]
Goodwill and Indefinite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets, carrying amount (in dollars)	41,400,000		$ 41,400,000
Oil and Gas [Member] \| Reporting Unit A, Quantitative Testing [Member]
Goodwill and Indefinite-Lived Intangible Assets [Line Items]
Goodwill impairment testing, number of reporting units \| reportingunit		3	1	1
Oil and Gas [Member] \| Reporting Unit B, Quantitative Testing [Member]
Goodwill and Indefinite-Lived Intangible Assets [Line Items]
Goodwill impairment testing, number of reporting units \| reportingunit			2
Goodwill, carrying amount (in dollars)	$ 15,000,000.0		$ 15,000,000.0
Goodwill impairment testing, reporting unit, percentage of estimated fair value in excess of carrying value	15.00%		15.00%
Electrical Transmission [Member]
Goodwill and Indefinite-Lived Intangible Assets [Line Items]
Percentage of aggregated components in reporting unit		100.00%	100.00%	100.00%
Goodwill, carrying amount (in dollars)	$ 149,900,000	$ 150,100,000	$ 149,900,000	$ 149,900,000
Other [Member]
Goodwill and Indefinite-Lived Intangible Assets [Line Items]
Number of aggregated components in reporting unit \| component		1	1	1

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
Document and Entity Information - USD ($) $ in Billions	Dec. 31, 2020	Feb. 22, 2021	Jun. 30, 2020
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Document Transition Report	false
Entity File Number	001-08106
Entity Registrant Name	MasTec, Inc.
Entity Central Index Key	0000015615
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false
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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float (in dollars)			$ 2.5
Entity Common Stock, Shares Outstanding		74,208,646

Lease Obligations (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Schedule of Future Minimum Lease Commitments, Finance Leases

Future minimum lease commitments as of December 31, 2020 were as follows (in millions):


	Finance Leases		Operating Leases
2021	$	141.5	$	82.8
2022	101.5		49.2
2023	47.6		25.4
2024	11.7		16.2
2025	0.5		10.4
Thereafter	—		20.0
Total minimum lease payments	$	302.8	$	204.0
Less amounts representing interest	(14.3)		(15.0)
Total lease obligations, net of interest	$	288.5	$	189.0
Less current portion	132.6		72.5
Long-term portion of lease obligations, net of interest	$	155.9	$	116.5

Schedule of Future Minimum Lease Commitments, Operating Leases

Future minimum lease commitments as of December 31, 2020 were as follows (in millions):


	Finance Leases		Operating Leases
2021	$	141.5	$	82.8
2022	101.5		49.2
2023	47.6		25.4
2024	11.7		16.2
2025	0.5		10.4
Thereafter	—		20.0
Total minimum lease payments	$	302.8	$	204.0
Less amounts representing interest	(14.3)		(15.0)
Total lease obligations, net of interest	$	288.5	$	189.0
Less current portion	132.6		72.5
Long-term portion of lease obligations, net of interest	$	155.9	$	116.5

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 14 – 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 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. Other Commitments and Contingencies Leases. In the ordinary course of business, the Company enters into non-cancelable operating leases for certain of its facility, vehicle and equipment needs, including related party leases. See Note 8 - Lease Obligations and Note 15 - Related Party Transactions. Letters of Credit. In the ordinary course of business, the Company is required to post letters of credit for its insurance carriers and surety bond providers and in support of performance under certain contracts as well as certain obligations associated with the Company’s equity investments and other strategic arrangements, including its variable interest entities. Such letters of credit are generally issued by a bank or similar financial institution. The letter of credit commits the issuer to pay specified amounts to the holder of the letter of credit under certain conditions. If this were to occur, the Company would be required to reimburse the issuer of the letter of credit, which, depending upon the circumstances, could result in a charge to earnings. As of December 31, 2020 and 2019, there were $151.8 million and $115.1 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 December 31, 2020 or 2019. 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 December 31, 2020 and 2019, outstanding performance and payment bonds approximated $764.8 million and $551.4 million, respectively, and estimated costs to complete projects secured by these bonds totaled $263.2 million and $194.7 million as of December 31, 2020 and 2019, respectively. 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 a 50% undivided interest in a civil construction project. 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 December 31, 2020, the Company was not aware of material future claims against it in connection with these arrangements. 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 regarding 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. As of December 31, 2020 and 2019, MasTec’s estimated liability for unpaid claims and associated expenses, including incurred but not reported losses related to these policies, totaled $129.6 million and $123.4 million, respectively, of which $86.1 million and $87.3 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 $4.3 million and $4.2 million as of December 31, 2020 and 2019, respectively. The Company is required to post collateral, generally in the form of letters of credit, surety bonds and cash to certain of its insurance carriers. Insurance-related letters of credit for the Company’s workers’ compensation, general liability and automobile liability policies amounted to $59.3 million and $64.0 million as of December 31, 2020 and 2019, respectively. Outstanding surety bonds related to self-insurance programs amounted to $37.4 million and $38.5 million as of December 31, 2020 and 2019, respectively. Employment Agreements. The Company has employment agreements with certain executives and other employees, which provide for compensation and certain other benefits and for severance payments under certain circumstances. Certain employment agreements also contain clauses that become effective upon a change in control of the Company. Upon the occurrence of any of the defined events in the various employment agreements, the Company would be obligated to pay certain amounts to the related employees, which vary with the level of the employees’ respective responsibility. Collective Bargaining Agreements and Multiemployer Plans. As discussed in Note 1 - Business, Basis of Presentation and Significant Accounting Policies, 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 December 31, 2020, 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. 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 December 31, 2020 and 2019, the Company was not aware of any material asserted or unasserted claims in connection with these 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. The Company is subject to certain risk factors, including, but not limited to: governmental and/or regulatory changes, including governmental permitting, or other factors affecting the industries in which the Company operates; changes in customers’ capital spending plans; risks related to market conditions, market uncertainty, including from health outbreaks such as the COVID-19 pandemic and/or economic downturns; risks related to rapid technological changes or customer consolidation; competition; the ability to manage projects effectively and in accordance with management’s estimates; the nature of its contracts, which do not obligate MasTec’s customers to undertake any infrastructure projects and may be canceled on short notice; customer disputes related to the performance of services; seasonality, adverse weather conditions and fluctuations in operational factors; potential exposure to environmental liabilities; risks related to the Company’s acquisitions and strategic investment arrangements, including acquisition integration and financing; exposure from system or information technology interruptions; recoverability of goodwill; collectibility of receivables and resolution of unapproved change orders; availability of qualified employees; the adequacy of our reserves; exposure to litigation; exposure related to foreign operations; and exposure to multiemployer pension plan liabilities. The Company grants credit, generally without collateral, to its customers. Consequently, the Company is subject to potential credit risk related to changes in business and economic factors, including from current economic uncertainty. However, MasTec generally has certain lien rights on that work and maintains a diverse customer base. The Company believes its billing and collection policies are adequate to minimize potential credit risk. MasTec’s customers include: public and private energy providers; pipeline operators; wireless and wireline/fiber service providers; broadband operators; install-to-the-home service providers; and government entities. The industries served by MasTec’s customers include the communications and utilities industries, among others. The Company had approximately 475 customers for the year ended December 31, 2020. As of December 31, 2020, two customers each accounted for approximately, 15% and 12%, respectively, of the Company’s consolidated net accounts receivable position, which represents accounts receivable, net, less deferred revenue. As of December 31, 2019, three customers each accounted for approximately 17%, 13% and 11%, respectively, of the Company’s consolidated net accounts receivable position. In addition, the Company derived 58%, 64% and 72%, of its revenue from its top ten customers for the years ended December 31, 2020, 2019 and 2018, respectively.

Stock-Based Compensation and Other Employee Benefit Plans (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended				12 Months Ended
	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Stock-Based Compensation and Other Employee Benefit Plans [Line Items]
Stock-based compensation plans, number of shares available for future grant	2,665,000				2,665,000
Non-cash stock-based compensation expense					$ 21.9	$ 16.4	$ 13.5
Stock-based compensation, income tax benefits					5.7	7.9	4.9
Stock-based compensation, vested awards, net income tax benefits	$ 0.6	$ (0.1)	$ 1.6	$ 2.3	$ 0.5	$ 3.9	$ 1.6
2013 Incentive Plan [Member] \| Restricted Shares [Member]
Stock-Based Compensation and Other Employee Benefit Plans [Line Items]
Stock-based compensation plans, number of shares authorized	7,391,000				7,391,000
ESPPs [Member] \| Employee Stock Purchase Plans [Member]
Stock-Based Compensation and Other Employee Benefit Plans [Line Items]
Stock-based compensation plans, number of shares authorized	3,000,000				3,000,000

Segments and Related Information (Schedule of Financial Information by Reportable Segment - Capital Expenditures) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Capital Expenditures:
Capital expenditures	$ 213,746	$ 126,473	$ 180,420
Reportable Segments [Member] \| Communications [Member]
Capital Expenditures:
Capital expenditures	38,400	36,000	69,300
Reportable Segments [Member] \| Clean Energy and Infrastructure
Capital Expenditures:
Capital expenditures	14,000	12,700	6,500
Reportable Segments [Member] \| Oil and Gas [Member]
Capital Expenditures:
Capital expenditures	149,200	59,700	83,500
Reportable Segments [Member] \| Electrical Transmission [Member]
Capital Expenditures:
Capital expenditures	3,800	6,800	10,200
Reportable Segments [Member] \| Other [Member]
Capital Expenditures:
Capital expenditures	0	0	0
Corporate [Member]
Capital Expenditures:
Capital expenditures	$ 8,300	$ 11,300	$ 10,900

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 322,699	$ 394,096	$ 259,231
Other comprehensive (loss) income:
Foreign currency translation gains (losses), net of tax	1,413	(189)	(2,645)
Unrealized (losses) gains on investment activity, net of tax	(17,151)	(15,023)	5,863
Comprehensive income	306,961	378,884	262,449
Comprehensive (loss) income attributable to non-controlling interests	(149)	1,762	(428)
Comprehensive income attributable to MasTec, Inc.	$ 307,110	$ 377,122	$ 262,877

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

+ Details

Business, Basis of Presentation and Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Business, Basis of Presentation and Significant Accounting Policies	Note 1 – 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: wireless, wireline/fiber and customer fulfillment activities; power generation, including from clean energy and renewable sources; pipeline infrastructure; electrical utility transmission and distribution; 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) Electrical Transmission; and (5) Other. During the second quarter of 2020, the Company renamed its Power Generation and Industrial segment as the Clean Energy and Infrastructure segment to better represent the nature of the segment’s operations, end markets and customer characteristics. There was no change to the composition of the segment or its historical results. 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 liabilities. Net income or loss attributable to non-controlling interests is reported as a separate line item below net income or loss. The Company’s investments in entities for which the Company does not have a controlling interest, but over which it has the ability to exert significant influence, are accounted for using the equity method of accounting. 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. When necessary, certain prior year amounts have been reclassified to conform with the current period presentation. 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. 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 the COVID-19 pandemic and other relevant global events. 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 and intangible assets, acquisition-related contingent consideration and other liabilities, equity investments and other long-lived assets; allowances for credit losses; asset lives used in computing depreciation and amortization; fair values of financial instruments; self-insurance liabilities; other accruals and allowances; income taxes; and the estimated effects of litigation and other contingencies. COVID-19 Pandemic The World Health Organization declared a global pandemic related to the rapidly growing outbreak of a novel strain of coronavirus in the first quarter of 2020. The COVID-19 pandemic has disrupted business activities and significantly affected global economic conditions as federal, state and local governments imposed mitigation measures to address the public health crisis, resulting in workforce, supply chain and production disruptions, the effects of which have created significant uncertainties in the U.S. and global economies. Restrictions have been enacted, lifted, and reenacted during 2020 and into 2021, and the possibility of future restrictions remains. Most of the Company’s construction services have been deemed essential under state and local pandemic mitigation orders, and all of its business segments continue to operate. The Company’s customers have generally directed the Company to maintain normal work schedules, where safe and possible. The Company’s business model has, thus far, proven resilient, and management continues to make efforts to adapt to the changing operational and economic environment resulting from the COVID-19 pandemic. Management’s top priority has been to take appropriate actions to protect the health and safety of its employees, customers and business partners, including adjusting its standard operating procedures to respond to evolving health guidelines. The COVID-19 pandemic has had a negative impact on the Company’s operations and is expected to continue to affect our future business activities for an unknown period of time. These impacts include lost productivity from governmental permitting approval delays, reduced crew productivity due to social distancing, other mitigation measures or other factors, the health and availability of work crews or other key personnel, including subcontractors or supply chain disruptions, and/or delayed project start dates or project shutdowns or cancellations that may be mandated or requested by governmental authorities or others, all of which could result in lower revenue or higher operating costs and/or create lower levels of overhead cost absorption. The CARES Act was signed into law in March 2020 in response to the COVID-19 pandemic. The CARES Act provides for various tax relief and incentive measures, including provisions permitting the deferral and/or reduction of certain federal and payroll tax amounts. The Company has pursued certain of these relief provisions. For the year ended December 31, 2020, approximately $59 million of payroll taxes have been deferred, of which half are due by December 31, 2021, with the remainder due by December 31, 2022. Additionally, the Coronavirus Response and Relief Supplemental Appropriations Act (the “Coronavirus Relief Act”), which provides certain additional COVID-19 relief measures, was signed into law in December 2020. The Company will continue to evaluate the potential effects of the CARES Act, along with any potential effects of the Coronavirus Relief Act, on its financial position, results of operations and cash flows and will continue to monitor all other available federal and other COVID-19 relief provisions to determine its qualification for, and the usefulness to the Company, of any such relief measures. Management believes that it is taking appropriate steps to mitigate any potential impact to the Company; however, given the uncertainty regarding the potential effects of the COVID-19 pandemic, which will depend upon numerous evolving factors that we may not be able to accurately predict, including the development and availability of effective treatments and vaccines and the speed with which they are administered to the public and the length and extent of the economic and market disruption, any future impacts cannot be quantified or predicted with specificity. Significant Accounting Policies The following is a summary of significant accounting policies followed in the preparation of the accompanying consolidated financial statements. Revenue Recognition The Company recognizes revenue from contracts with customers under Accounting Standards Codification (“ASC”) Topic 606 (“Topic 606”). Under Topic 606, revenue is recognized when, or as, control of promised goods and services is transferred to customers, and the amount of revenue recognized reflects the consideration to which an entity expects to be entitled in exchange for the goods and services transferred. Revenue is primarily recognized by the Company over time utilizing the cost-to-cost measure of progress, which is an input method, on contracts for specific projects and for certain master service and other service agreements. Under Topic 606, the cost-to-cost measure of progress 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 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 36% of consolidated revenue for each of the years ended December 31, 2020 and 2019, and totaled 35% for the year ended December 31, 2018. Revenue from contracts for specific projects, as well as for certain projects pursuant to master and other service agreements, is typically recognized over time using the cost-to-cost measure of progress. For these contracts, the cost-to-cost measure of progress best depicts the continuous transfer of control of goods or services to the customer. Such contracts provide that the customer accept completion of progress to date and compensate the Company for services rendered. For certain master service and other service agreements under which the Company performs installation and maintenance services, primarily for install-to-the-home service providers in its Communications segment, revenue is recognized at a point in time. 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 5% of consolidated revenue for each of the years ended December 31, 2020 and 2019, and accounted for approximately 7% of consolidated revenue for the year ended December 31, 2018. Substantially all of the Company’s other revenue is recognized over time. Contract costs include all direct materials, labor and subcontracted costs, as well as indirect costs related to contract performance, such as indirect labor, supplies, tools, repairs and the operational costs of capital equipment. The total contract transaction price and cost estimation processes used for recognizing revenue over time under the cost-to-cost method is based on the professional knowledge and experience of the Company’s project managers, engineers and financial professionals. Management reviews estimates of total contract transaction price and total project costs on an ongoing basis. Changes in job performance, job conditions and management’s assessment of expected variable consideration are factors that influence estimates of the total contract transaction price, total costs to complete those contracts and the Company’s profit recognition. Changes in these factors could result in revisions to revenue in the period in which the revisions are determined, which could materially affect the Company’s consolidated results of operations for that period. Provisions for losses on uncompleted contracts are recorded in the period in which such losses are determined. For each of the years ended December 31, 2020, 2019 and 2018, 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, 2019, 2018 and 2017. Revenue recognized for the years ended December 31, 2020, 2019 and 2018 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, totaled approximately $13.5 million, $58.3 million and $38.5 million, respectively. The Company may incur certain costs that can be capitalized, such as initial set-up or mobilization costs. Such costs, which are amortized over the life of the respective projects, were $5.5 million as of December 31, 2020 and were not material as of December 31, 2019. The timing of customer billings is generally dependent upon advance billing terms, milestone billings based on completion of certain phases of work, or when services are provided. Under the typical payment terms of master and other service agreements and fixed price contracts, the customer makes progress payments based on quantifiable measures of performance by the Company as defined by each specific agreement. Progress payments, generally net of amounts retained, are paid by the customer over the duration of the contract. For install-to-the-home contracts, work orders are billed and paid as completed. Amounts billed and due from customers, as well as the amount of contract assets, are generally classified within current assets in the consolidated balance sheets. See Note 5 - Accounts Receivable, Net of Allowance, and Contract Assets and Liabilities for related discussion. Amounts expected to be collected beyond one year are classified as other long-term assets. Performance Obligations. A performance obligation is a contractual promise to transfer a distinct good or service to a customer, and is the unit of account under Topic 606. 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 Company’s contracts often require significant services to integrate complex activities and equipment into a single deliverable, and are therefore generally accounted for as a single performance obligation, even when delivering multiple distinct services. Contract amendments and change orders, which are generally not distinct from the existing contract, are typically accounted for as a modification of the existing contract and performance obligation. The vast majority of the Company’s performance obligations are completed within one year. When more than one contract is entered into with a customer on or close to the same date, the Company evaluates whether those contracts should be combined and accounted for as a single contract, as well as whether those contracts should be accounted for as one, or more than one, performance obligation. This evaluation requires significant judgment and is based on the facts and circumstances of the various contracts. 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 December 31, 2020, the amount of the Company’s remaining performance obligations was $5.0 billion. The Company expects to recognize approximately $4.6 billion of its remaining performance obligations as revenue during 2021, with the remainder to be recognized primarily in 2022. 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. Variable consideration is included in the estimated transaction price if it is probable that when the uncertainty associated with the variable consideration is resolved, there will not be a significant reversal of the cumulative amount of revenue that has been recognized. 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. The effect of variable consideration on the transaction price of a performance obligation is typically recognized as an adjustment to revenue on a cumulative catch-up basis, as such variable consideration, which typically pertains to changed conditions and scope, is generally for services encompassed under the existing contract. 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 December 31, 2020 and 2019, the Company included approximately $51 million and $27 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 December 31, 2020, these change orders and/or claims were primarily related to certain projects in the Company’s Electrical Transmission and Communications segments, and as of December 31, 2019, change orders were primarily related to certain projects in the Company’s Oil and Gas segment. 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. Allowance for Credit Losses See “Recent Accounting Pronouncements” section below for information pertaining to the adoption of ASU 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments and its related clarifying ASUs (collectively, “ASU 2016-13”). The Company maintains an allowance for credit losses for its financial instruments, which are primarily composed of accounts receivable and contract assets. The measurement and recognition of credit losses involves the use of judgment and represents management’s estimate of expected lifetime credit losses based on historical experience and trends, current conditions and reasonable and supportable forecasts. Management’s assessment of expected credit losses includes consideration of current and expected economic, market and industry factors affecting the Company’s customers, including their financial condition, the aging of account balances, historical credit loss experience, customer concentrations, customer credit-worthiness, availability of mechanics’ and other liens, existence of payment bonds and other sources of payment. Management evaluates its experience with historical losses and then applies this historical loss ratio to financial assets with similar characteristics. The Company’s historical loss ratio or its determination of risk pools may be adjusted for changes in customer, economic, market or other circumstances. The Company may also establish an allowance for credit losses for specific receivables when it is probable that the receivable will not be collected and the loss can be reasonably estimated. Amounts are written off against the allowance when they are considered to be uncollectible, and reversals of previously reserved amounts are recognized if a specifically reserved item is settled for an amount exceeding the previous estimate. Estimates of expected credit losses could be affected by many factors, including, but not limited to: changes in credit loss experience, changes to the risk characteristics of the Company’s financial asset portfolio, developing trends, including changes in credit quality or unanticipated financial difficulties affecting the Company’s customers and changes in management’s expectations of future economic, industry or other conditions. In addition, if anticipated recoveries in existing bankruptcies or other work-out situations fail to materialize, additional allowances may be required. Estimates of collectibility are subject to significant change during times of economic weakness or uncertainty in either the overall economy or within the industries served by MasTec. Management actively monitors these factors and assesses the sufficiency of its allowance for credit losses on an ongoing basis, including any potential effects from the COVID-19 pandemic and/or volatility in the oil and gas markets on the credit quality of the Company’s customers and/or its financial assets. Inventories Inventories consist of materials and supplies for construction and installation projects, which are valued at the lower of cost or net realizable value using the average cost or specific identification methods of costing. For materials or supplies purchased on behalf of specific customers or projects, loss of the customer or cancellation of the project could result in an impairment of the value of materials purchased. The value of inventory may also decrease due to obsolescence, physical deterioration, damage, changes in price levels, or other causes. Inventory valuation allowances are determined based upon specific facts and circumstances and market conditions. As of December 31, 2020 and 2019, valuation allowances for inventory totaled $8.5 million and $7.7 million, respectively. Cash and Cash Equivalents Cash consisting of interest-bearing demand deposits is carried at cost, which approximates fair value. Highly liquid investments with an original maturity of three months or less are carried at fair value. On a daily basis, available funds are swept from the Company’s depository accounts into a concentration account and are used to repay outstanding revolving loans, if any, under the Company’s senior secured credit facility (the “Credit Facility”). Cash balances maintained by certain operating subsidiaries and by entities that are proportionately consolidated that are not swept into the concentration account, as well as deposits made subsequent to the daily cash sweep, are classified as cash. Included in the Company’s cash balances as of December 31, 2020 and 2019 are amounts held by entities that are proportionately consolidated totaling $8.2 million and $13.1 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 generally does not fund its disbursement accounts for checks it has written until the checks are presented to the bank for payment. Outstanding checks that have not yet cleared through the banking system represent book overdrafts, which are classified within accounts payable. There are no compensating balance requirements associated with the Company’s depository accounts and there are no other restrictions on the transfer of cash associated with the Company’s depository accounts. Fair Value of Financial Instruments The Company’s financial instruments include cash and cash equivalents, accounts and notes receivable, cash collateral deposited with insurance carriers, life insurance assets, equity investments, certain other investments, deferred compensation plan assets and liabilities, accounts payable and other current liabilities, acquisition-related contingent consideration, mandatorily redeemable non-controlling interests, convertible debentures 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. In instances in which the inputs used to measure fair value fall into different levels of the fair value hierarchy, the fair value measurement classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Management’s assessment of the significance of a particular item to the fair value measurement in its entirety requires judgment, including the consideration of inputs specific to the asset or liability. Fair values of financial instruments are estimated using public market prices, quotes from financial institutions and other available information. Due to their short-term maturity, the carrying amounts of cash and cash equivalents, accounts receivable, accounts payable and other current liabilities approximate their fair values. Management believes the carrying values of notes and other receivables, cash collateral deposited with insurance carriers, and outstanding balances on its credit facilities approximate their fair values. Investment and Strategic Arrangements From time to time, the Company may participate in selected investment or strategic arrangements to expand its operations, customer base or geographic reach, including arrangements that combine the Company’s skills and resources with those of others to allow for the performance of particular projects. The Company’s investment and strategic arrangements include 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, including approximately $3 million of financing receivables and $3 million of financing commitments as of December 31, 2020. Management determines whether each business entity in which it has equity interests, debt, or other investments constitutes a variable interest entity (“VIE”) based on the nature and characteristics of such arrangements. If an investment arrangement is determined to be a VIE, then management determines if the Company is the VIE’s primary beneficiary by evaluating several factors, including the Company’s: (i) risks and responsibilities; (ii) ownership interests; (iii) decision making powers; and (iv) financial interests, among other factors. If management determines the Company is the primary beneficiary of a VIE, then it would be consolidated, and other parties’ interests in the VIE would be accounted for as non-controlling interests. The primary beneficiary consolidating the VIE must normally have both (i) the power to direct the primary activities of the VIE and (ii) the obligation to absorb losses of the VIE or the right to receive benefits from the VIE, which, in either case, could be significant to the VIE. The Company has determined that certain of its investment arrangements are VIEs. As of December 31, 2020, 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. The Company’s investments in entities for which it does not have a controlling interest and is not the primary beneficiary, but for which it has the ability to exert significant influence, are accounted for using the equity method of accounting. Under the equity method of accounting, the initial investment is recorded at cost and the investment is subsequently adjusted for its proportionate share of earnings or losses, including consideration of basis differences resulting from the difference between the initial carrying amount of the investment and the underlying equity in net assets. Equity method investments are recorded as other long-term assets. Income or loss from these investments is recorded as a separate line item in the consolidated statements of operations. Intercompany profits or losses associated with the Company’s equity method investments are eliminated until realized by the investee in transactions with third parties. Distributions received from equity method investees are reflected in the statements of cash flows using the nature of distributions approach, under which distributions are classified based on the nature of the activity that generated them. For equity investees in which the Company has an undivided interest in the assets, liabilities and profits or losses of an unincorporated entity, but the Company does not exercise control over the entity, the Company consolidates its proportional interest in the accounts of the entity. 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”). The Company evaluates such investments for impairment by considering a variety of factors, including the earnings performance of the related investments, as well as the economic environment and market conditions in which the investees operate. Fair value measurements for the Company’s equity investments are classified within Level 2 or Level 3 of the fair value hierarchy based on the nature of the fair value inputs, and are recognized in other income or expense. For further information pertaining to the Company’s equity investments, see Note 4 - Fair Value of Financial Instruments. Deferred Financing Costs Deferred financing costs relate to the Company’s debt instruments, the short and long-term portions of which are reflected as deductions from the carrying amounts of the related debt instrument, including the Credit Facility. Deferred financing costs are amortized over the terms of the related debt instruments using the effective interest method. The Company incurred $8.9 million of deferred financing costs for the year ended December 31, 2020 in connection with the issuance of its 4.50% Senior Notes. For the year ended December 31, 2019, the Company incurred $5.5 million of deferred financing costs in connection with an amendment and restatement of the Credit Facility. Amortization expense associated with deferred financing costs, which is included within interest expense, net, totaled $3.0 million for the year ended December 31, 2020, and totaled $2.9 million for each of the years ended December 31, 2019 and 2018. Additionally, the Company wrote off $2.3 million of deferred financing costs in connection with the redemption of its 4.875% Senior Notes, which amount is included within loss on extinguishment of debt in the consolidated statements of operations. Deferred financing costs, net of accumulated amortization, totaled $16.0 million and $12.4 million as of December 31, 2020 and 2019, respectively. See Note 7 - Debt for details of the issuance of the Company’s 4.50% Senior Notes and redemption of its 4.875% Senior Notes in 2020. Other Assets Other assets consist primarily of investments in unconsolidated entities, equity and debt securities, life insurance assets, deferred compensation plan assets, miscellaneous receivables and prepaid expenses. Long-Lived Assets The Company’s long-lived assets consist primarily of property and equipment, including finance lease assets, and finite-lived intangible assets. Purchased property and equipment are recorded at cost, or, if acquired in a business combination, at the acquisition date fair value. Finance lease assets are recognized based on the present value of minimum future lease payments. Certain costs incurred in connection with developing or obtaining internal-use software are capitalized within office furniture and equipment. Depreciation and amortization of property and equipment, including finance lease assets, is computed using the straight-line method over the estimated useful lives of the respective assets. Leasehold improvements are depreciated over the shorter of the term of the lease or the estimated useful lives of the improvements. Expenditures for repairs and maintenance are charged to expense as incurred. Expenditures for betterments and major improvements that extend the life of the related assets are capitalized and depreciated over the remaining useful lives of the assets. The carrying amounts of assets sold or retired and the related accumulated depreciation are eliminated in the year of disposal, with resulting gains or losses included in other income or expense. When the Company identifies assets to be sold, those assets are valued based on their estimated fair value less costs to sell and classified as held-for-sale and depreciation is no longer recorded. Finite-lived intangible assets are amortized over their useful lives, which are generally based on contractual or legal rights, in a manner consistent with the pattern in which the related benefits are expected to be consumed. Management reviews long-lived assets for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. If an evaluation is required, the estimated future undiscounted cash flows associated with the asset are compared with the asset’s carrying amount to determine if there has been an impairment, which is calculated as the difference between the fair value of an asset and its carrying value. Estimates of future undiscounted cash flows are based on expected revenue and operating costs for the business as well as anticipated future economic conditions. Fair values take into consideration management’s estimates of risk-adjusted discount rates, which are believed to be consistent with assumptions that marketplace participants would use in their estimates of fair value. During the three years in the period ended December 31, 2020, there were no material impairments of long-lived assets. Goodwill and Indefinite-Lived Intangible Assets The Company has goodwill and indefinite-lived intangible assets that have been recorded in connection with its acquisitions of businesses. Goodwill and indefinite-lived intangible assets are not amortized, but instead are tested for impairment at least annually. The Company performs its annual impairment tests of goodwill and indefinite-lived intangible assets during the fourth quarter of each year, and on a quarterly basis, monitors these assets for potential indicators of impairment. Goodwill is required to be tested for impairment at the reporting unit level. A reporting unit is an operating segment, or one level below the operating segment, which is referred to as a component. Management identifies its reporting units by assessing whether components (i) have discrete financial information available; (ii) engage in business activities; and (iii) have a segment manager that regularly reviews the component’s operating results. If two or more components are deemed economically similar, those components are aggregated into one reporting unit when performing the annual goodwill impairment test. Based on management’s review of its components and their related operations, the Company combines all of the components of its Electrical Transmission operating segment into one reporting unit and in 2018 and 2019, combined two of the components within its Clean Energy and Infrastructure operating segment into one reporting unit. All of the Company’s other components each comprise one reporting unit. During each of the three years in the period ended December 31, 2020, management performed a qualitative assessment for its goodwill and indefinite-lived intangible assets by examining relevant events and circumstances that could have an effect on their fair values, such as: macroeconomic conditions, industry and market conditions, entity-specific events, financial performance and other relevant factors or events that could affect earnings and cash flows. Quantitative testing was performed for selected reporting units during each of the three years. For the selected reporting units, management estimated their fair values using a combination of market and income approaches. Under the market approach, fair values were estimated using published market multiples for comparable companies and applying them to revenue and EBITDA. Under the income approach, a discounted cash flow methodology was used, considering: (i) management estimates, such as projections of revenue, operating costs and cash flows, taking into consideration historical and anticipated financial results; (ii) general economic and market conditions; and (iii) the impact of planned business and operational strategies. Management believes the assumptions used in its quantitative goodwill impairment tests are reflective of the risks inherent in the business models of the Company’s reporting units and within the Company’s industry. Estimated discount rates were determined using the weighted average cost of capital for each reporting unit at the time of the analysis, taking into consideration the risks inherent within each reporting unit individually. 2020 Assessment. Quantitative testing was performed for (i) three reporting units within the Company’s Oil and Gas operating segment and (ii) one reporting unit in the Communications segment. Factors considered by management in determining the reporting units for which quantitative assessments were performed included the effects of current or expected changes in market conditions on the future business outlook, the potential effects of the COVID-19 pandemic, success rates on new project awards and levels of operating activity. In 2020, significant assumptions used in testing the reporting units included terminal values based on terminal growth rates of 2.5%, five to nine years of discounted cash flows prior to the terminal value, and discount rates ranging from 13.0% to 15.0%. Based on the results of the quantitative assessment, the estimated fair values of the reporting unit in the Communications operating segment and the three reporting units in the Oil and Gas operating segment were determined to substantially exceed their carrying values. A 100 basis point increase in the discount rate would not have resulted in any of the reporting units’ carrying values exceeding their fair values. 2019 Assessment. Quantitative testing was performed for (i) three reporting units within the Company’s Oil and Gas operating segment and (ii) one reporting unit in the Communications segment. Factors considered by management in determining the reporting units for which quantitative assessments were performed included the effects of current or expected changes in market conditions on the future business outlook, success rates on new project awards and levels of operating activity. In 2019, significant assumptions used in testing the reporting units included terminal values based on terminal growth rates of 3.0%, five to nine years of discounted cash flows prior to the terminal value, and discount rates ranging from 13.0% to 16.0%. Based on the results of the quantitative assessment, the estimated fair values of the reporting unit in the Communications operating segment and one of the reporting units in the Oil and Gas operating segment were determined to substantially exceed their carrying values. The remaining two reporting units in the Oil and Gas operating segment, each of which had approximately $15.0 million of goodwill, had estimated fair values that exceed their respective carrying values by approximately 15%. A 100 basis point increase in the discount rate would not have resulted in any of the reporting units’ carrying values exceeding their fair values. Management also performed quantitative testing during 2019 for an indefinite-lived pre-qualification intangible asset in the Oil and Gas operating segment. Management estimated the fair value of the intangible asset using a cost methodology, incorporating estimates of the opportunity cost associated with the asset’s loss based on discounted cash flows over a four-year period. The impairment test incorporated an estimated discount rate of 13%. Based on the results of the quantitative assessment, the estimated fair value of the indefinite-lived pre-qualification intangible asset in the Oil and Gas operating segment was determined to be less than its carrying value and a pre-tax, non-cash impairment charge of $3.3 million was recorded for the difference. This indefinite-lived pre-qualification intangible asset had a carrying value of $41.4 million remaining as of December 31, 2019. 2018 Assessment. Quantitative testing was performed for (i) three reporting units within the Company’s Oil and Gas operating segment, (ii) the Electrical Transmission operating segment, and (iii) two reporting units in the Communications segment. Based on the results of the quantitative assessments, the estimated fair value of one of the reporting units in the Oil and Gas operating segment was determined to be less than its carrying value and a pre-tax, non-cash impairment charge of $47.7 million was recorded for the difference. Management also performed quantitative testing for indefinite-lived pre-qualification intangible assets in the Oil and Gas operating segment and in the Electrical Transmission operating segment. Based on the results of these assessments, there were no impairments of indefinite-lived intangible assets for the year ended December 31, 2018. As of December 31, 2020 and 2019, management believes that the recorded balances of goodwill and indefinite-lived intangible assets are recoverable; however, significant changes in the assumptions or estimates used in the Company’s impairment analyses, such as a reduction in profitability and/or cash flows, could result in non-cash goodwill and indefinite-lived intangible asset impairment charges in future periods. Business Combinations The determination of the fair value of net assets acquired in a business combination requires estimates and judgments of future cash flow expectations for the acquired business and the related identifiable tangible and intangible assets. Fair values of net assets acquired are calculated using expected cash flows and industry-standard valuation techniques. For current assets and current liabilities, book value is generally assumed to equal fair value. Goodwill is the amount by which consideration paid exceeds the fair value of acquired net assets. Acquisition costs, including acquisition integration costs, are expensed as incurred and are included within general and administrative expenses in the consolidated statements of operations. Due to the time required to gather and analyze the necessary data for each acquisition, U.S. GAAP provides a “measurement period” of up to one year in which to finalize these fair value determinations. During the measurement period, preliminary fair value estimates may be revised if new information is obtained about the facts and circumstances existing as of the date of acquisition, or based on the final net assets and working capital of the acquired business, as prescribed in the applicable purchase agreement. Such adjustments may result in the recognition, or adjust the fair values, of acquisition-related assets and liabilities and/or consideration paid, and are referred to as “measurement period” adjustments, and are recorded to goodwill. Other revisions to these fair value estimates are reflected as income or expense, as appropriate. Consideration paid generally consists of cash and potential future payments that are contingent upon the acquired business achieving certain levels of earnings in the future, also referred to as “acquisition-related contingent consideration” or “earn-outs.” In one of the Company’s acquisitions, the acquisition consideration includes a mandatorily redeemable non-controlling interest, subject to a repurchase formula, which is calculated in a manner consistent with the Company’s traditional earn-out arrangements. The Company refers to its traditional earn-out arrangements and the mandatorily redeemable non-controlling interest collectively as “Earn-outs.” Earn-out liabilities are measured at their estimated fair values as of the date of acquisition. Subsequent to the date of acquisition, if future Earn-out payments are expected to differ from Earn-out payments estimated as of the date of acquisition, any related fair value adjustments, including those related to finalization of completed earn-out arrangements, are recognized in the period that such expectation is considered probable. Changes in the fair value of Earn-out liabilities for the Company’s traditional earn-outs, other than those related to measurement period adjustments, as described above, are recorded within other income or expense in the consolidated statements of operations, and for mandatorily redeemable non-controlling interests, are generally recorded within interest expense. Fair values are estimated using income approaches such as discounted cash flows or option pricing models. Earn-out liabilities are included within other current and other long-term liabilities, as appropriate, within the consolidated balance sheets. Earn-out payments, to the extent they relate to estimated liabilities as of the date of acquisition, are classified within financing activities in the consolidated statement of cash flows. Earn-out payments in excess of acquisition date liabilities are classified within operating activities. Leases 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. The Company reviews all agreements to determine if a leasing arrangement exists. When a leasing arrangement is identified, a determination is made at inception as to whether the lease is an operating or a finance lease. A lease exists when a contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. In determining whether a lease exists, the Company considers whether a contract provides both the right to obtain substantially all of the economic benefits from the use of an asset and the right to direct the use of the asset. Right-of-use assets and lease liabilities are recognized at the lease commencement date based on the present value of the minimum future lease payments over the expected term of the lease. The Company’s lease assets are primarily concentrated in vehicles, machinery and equipment. Leases with an initial term of twelve months or less are classified as short-term leases and are not recognized in the consolidated balance sheets unless the lease contains a purchase option that is reasonably certain to be exercised, or unless it is reasonably certain that the equipment will be leased for greater than twelve months. Lease payments for short-term leases are recognized on a straight-line basis over the lease term, and primarily relate to equipment used on construction projects, for which the rentals are based on daily, weekly or monthly rental rates, and typically contain termination for convenience provisions. Lease determinations are reassessed in the event of a change in lease terms. The Company has a limited number of sublease arrangements, which are not considered material to the consolidated financial statements. As of December 31, 2020, the Company’s leases have remaining lease terms of up to eight years. Lease agreements may contain renewal clauses, which, if elected, generally extend the term of the lease for one to five years for both equipment and facility leases. Certain lease agreements may also contain options to purchase the leased property and/or options to terminate the lease. In addition, lease agreements may include periodic adjustments to payment amounts for inflation or other variables, or may require payments for taxes, insurance, maintenance or other expenses, which are generally referred to as non-lease components. The Company accounts for non-lease components together with the related lease components for all classes of leased assets. The Company’s lease agreements do not contain significant residual value guarantees or material restrictive covenants. Lease term, discount rate, variable lease costs and future minimum lease payment determinations require the use of judgment, and are based on the facts and circumstances of each lease. Economic incentives, intent, past history and business need are among the factors considered to determine if renewal and/or purchase options are reasonably certain to be exercised. The majority of the Company’s lease agreements do not explicitly state the discount rate implicit in the lease, therefore, the Company generally uses an incremental borrowing rate to determine the value of its lease obligations. The incremental borrowing rate represents the rate of interest that would be paid to borrow on a collateralized basis over a similar term. The Company determines its incremental borrowing rate using a portfolio approach based on information available as of the lease commencement date, including applicable lease terms and the current economic environment. Finance Leases Finance lease assets are recorded within property and equipment, with a corresponding amount recorded within the Company’s debt obligations. Finance lease expense is composed of depreciation expense on the leased asset and interest on the lease liability. Additions to finance leases are included within the supplemental disclosures of non-cash information in the consolidated statements of cash flows. Many of the Company’s finance leases contain purchase options, which the Company frequently exercises, given that the purchase option prices are typically below the estimated fair market values of the related assets. Operating Leases Operating lease right-of-use assets and liabilities are recorded on the consolidated balance sheets, with the related lease expense recognized over the term of the lease on a straight-line basis. Operating lease expense is recorded as rent expense, primarily within costs of revenue, excluding depreciation and amortization. Fixed costs for operating leases are composed of initial base rent amounts plus any fixed annual increases. Variable costs for operating leases consist primarily of common area maintenance expenses and taxes for facility leases. Certain of the Company’s operating leases contain purchase options, for which the purchase option price is generally considered to be at fair market value. From time to time, the Company may terminate a lease before the end of the lease term. Payments related to such early lease terminations are generally recorded within rent expense. Self-Insurance The Company is self-insured up to the amount of its deductible for its insurance policies. MasTec maintains insurance policies subject to per claim deductibles of $2.0 million for its workers’ compensation policy, $4.0 million for its general liability policy and up to $10.0 million for its automobile liability policy. In addition, the Company has excess umbrella coverage. Estimated liabilities under these insurance programs are accrued based upon management’s estimates of the ultimate liability for claims reported and an estimate of claims incurred but not reported, with assistance from third-party actuaries. MasTec also maintains an insurance policy with respect to employee group medical claims, which is subject to annual per employee maximum losses of $0.6 million. MasTec’s estimated liability for employee group medical claims is based on statistical analysis of historical claims experience and specific knowledge of actual losses that have occurred. 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. Cash collateral deposited with insurance carriers is included in other long-term assets in the consolidated balance sheets. The present value of the Company’s self-insurance liability is reflected in the consolidated balance sheets within current and other long-term liabilities, as appropriate. The determination of such claims and expenses and the appropriateness of the related liability is reviewed and updated quarterly. These insurance liabilities are, however, difficult to assess and estimate due to many factors, the effects of which are often unknown or difficult to estimate, including the severity of an injury, the determination of the Company’s liability in proportion to other parties and the number of incidents not reported. Accruals are based upon known facts and historical trends. Although management believes its accruals are adequate, a change in experience or actuarial assumptions could materially affect the Company’s results of operations in a particular period. Income Taxes The Company records income taxes using the asset and liability method of accounting for deferred income taxes. Under this method, deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the financial statement and income tax basis of the Company’s assets and liabilities. Income taxes are estimated in each of the jurisdictions in which the Company operates. This process involves estimating the tax exposure, together with assessing temporary differences resulting from differing treatment of items, such as deferred revenue, for tax and accounting purposes. These differences result in deferred tax assets and liabilities, which are included, net, within the consolidated balance sheets as long-term assets and/or liabilities, as appropriate. The recording of a deferred tax asset assumes the realization of such asset in the future. Otherwise, a valuation allowance is recorded to reduce the asset to its estimated net realizable value. If management determines that the Company may not be able to realize all or part of a deferred tax asset in the future, a valuation allowance for the deferred tax asset is charged to income tax expense in the period the determination is made. Management considers future pretax income and ongoing prudent and feasible tax planning strategies in assessing the estimated net realizable value of tax assets and the corresponding need for any related valuation allowances. In determining the provision for income taxes, management uses an effective tax rate based on annual pre-tax income, statutory tax rates, permanent tax differences and tax planning opportunities in the various jurisdictions in which the Company operates. The Company is generally free of additional U.S. federal tax consequences on distributed foreign subsidiary earnings. The Company has generally not provided for U.S. income taxes on unremitted foreign earnings because such earnings are considered to be insignificant. Significant factors that can affect the annual effective tax rate include management’s assessment of certain tax matters, the location and amount of taxable earnings, changes in certain non-deductible expenses and expected credits. An entity may only recognize or continue to recognize tax positions that meet a "more likely than not" threshold. In the ordinary course of business, there is inherent uncertainty in quantifying income tax positions. The Company assesses its income tax positions and records tax benefits for all years subject to examination based on management's evaluation of the facts, circumstances and information available at the reporting date. For those tax positions where it is more likely than not that a tax benefit will be sustained, the Company has recognized the largest amount of tax benefit with a greater than 50% likelihood of being realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. For those income tax positions where it is not more likely than not that a tax benefit will be sustained, no tax benefit has been recognized in the Company's financial statements. The Company and its subsidiaries file income tax returns in numerous tax jurisdictions, including U.S. federal, most U.S. states and certain foreign jurisdictions. Although management believes its calculations for tax returns are correct and the positions taken thereon are reasonable, the final outcome of income tax examinations could be materially different from the resolution management currently anticipates and the estimates that are reflected in the Company’s consolidated financial statements, which could materially affect the Company’s results of operations, cash flows and liquidity in a particular period. To the extent interest and penalties are assessed by taxing authorities, such amounts are accrued and included within income tax expense. Stock-Based Compensation The Company has certain stock-based compensation plans, under which restricted stock awards and restricted stock units (together “restricted shares”) are available for issuance to eligible participants. Non-cash stock-based compensation expense is included within general and administrative expense in the consolidated statements of operations. Share-based payments, to the extent they are compensatory, are recognized based on their grant date fair values. Forfeitures are recorded as they occur. The Company records a deferred tax asset, or future tax benefit, based on the amount of share-based compensation recognized in the financial statements over the vesting period of share-based awards. The tax effects of differences between the fair value of a share-based award on the date of vesting and the date of grant, also referred to as excess tax benefits or tax deficiencies, are recognized within the provision for income taxes in the period such vestings occur. Grants of restricted shares are valued based on the closing market share price of MasTec’s common stock as reported on the New York Stock Exchange (the “market price”) on the date of grant. Compensation expense arising from restricted shares is recognized on a straight-line basis over the vesting period. Grants of restricted shares have cliff vesting terms, which generally vest over a period of three years. Upon vesting, some of the underlying shares may be sold to cover the required tax withholdings. However, some participants may choose the net share settlement method to cover withholding tax requirements, in which case shares are not issued, but are treated as common stock repurchases in the consolidated financial statements, as they reduce the number of shares that would have been issued upon vesting. The Company then pays the corresponding withholding taxes to the appropriate taxing authorities in cash on behalf of the recipient. Withheld shares, which are valued at the market price on the date of vesting, are recorded as a reduction to additional paid-in capital and are reflected within financing activities in the consolidated statements of cash flows. For the year ended December 31, 2020, shares withheld in connection with stock-based compensation arrangements totaled 11,667 shares and related payments to taxing authorities totaled $0.6 million. For the year ended December 31, 2019, shares withheld in connection with stock-based compensation arrangements were de minimis. Shares withheld in connection with stock-based compensation arrangements for the year ended December 31, 2018 totaled 96,739 shares and related payments to taxing authorities totaled $3.8 million. 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. These plans allow participants to purchase MasTec, Inc. common stock at 85% of its fair market value at the lower of (i) the date of commencement of the offering period or (ii) the last day of the exercise period, as defined in the plan documents. The fair value of purchases under the Company’s employee stock purchase plans is estimated using the Black-Scholes option-pricing valuation model. The determination of fair value of stock-based awards using an option-pricing model is affected by the Company’s stock price as well as assumptions pertaining to several variables, including expected stock price volatility, the expected term of the award and the risk-free rate of interest. In the option-pricing model for the Company’s employee stock purchase plans, expected stock price volatility is based on historical volatility of the Company’s common stock. The expected term of the award is based on historical and expected exercise patterns and the risk-free rate of interest is based on U.S. Treasury yields. Beginning in 2021, ESPP shares will be purchased at 85% of the fair market value of MasTec common stock as of the date of purchase. Collective Bargaining Agreements and Multiemployer Plans Certain of MasTec’s subsidiaries, including certain subsidiaries in Canada, are party to various collective bargaining agreements with unions representing certain of their employees. These agreements require the subsidiaries party to the agreements to pay specified wages, provide certain benefits to their union employees and contribute certain amounts to multiemployer pension and other multiemployer benefit plans and trusts (“MEPPs”). These contributions are recorded as a component of employee wages and salaries within costs of revenue, excluding depreciation and amortization. Contributions are generally based on fixed amounts per hour per employee for employees covered under these plans. Multiemployer plan contribution rates are determined annually and assessed on a “pay-as-you-go” basis based on union employee payrolls. The Pension Protection Act of 2006, as amended, (the “PPA”) requires pension plans that are underfunded to improve their funding ratios within prescribed intervals based on their level of underfunding, under which benefit reductions may apply and/or participating employers could be required to make additional contributions. In addition, if a multiemployer defined benefit plan fails to satisfy certain minimum funding requirements, the IRS may impose on the employers contributing to such plans a non-deductible excise tax of 5% of the amount of the accumulated funding deficiency. Union payrolls cannot be determined for future periods because the number of union employees employed at any given time, and the plans in which they may participate, vary depending upon the location and number of ongoing projects at a given time and the need for union resources in connection with those projects. The collective bargaining agreements expire at various times and have typically been renegotiated and renewed on terms similar to the ones contained in the expiring agreements. Under current law pertaining to employers that are contributors to U.S.-registered multiemployer defined benefit plans, a plan’s termination, an employer’s voluntary withdrawal from, or the mass withdrawal of contributing employers from, an underfunded multiemployer defined benefit plan requires participating employers to make payments to the plan for their proportionate share of the multiemployer plan’s unfunded vested liabilities. These liabilities include an allocable share of the unfunded vested benefits of the plan for all plan participants, not only for benefits payable to participants of the contributing employer. As a result, participating employers may bear a higher proportion of liability for unfunded vested benefits if the other participating employers cease to contribute to, or withdraw from, the plan. The allocable portion of liability to participating employers could be more disproportionate if employers that have withdrawn from the plan are insolvent, or if they otherwise fail to pay their proportionate share of the withdrawal liability. If the Company is subject to a withdrawal liability, the related withdrawal charge is recorded as a component of employee wages and salaries within costs of revenue, excluding depreciation and amortization, with any related liability recorded within other current and/or other long-term liabilities, as appropriate. The Company’s participation in the multiemployer pension plans is evaluated by management on an ongoing basis. See Note 10 - Other Retirement Plans and Note 14 - Commitments and Contingencies. Restructuring Activities From time to time, the Company may incur costs to streamline its business operations. These streamlining efforts, which are designed to improve profitability, could include eliminating service offerings that no longer fit into the Company’s business plan, certain integration activities for acquired businesses, reducing or eliminating services or operations that do not produce adequate revenue or margins, or reducing costs of business units that need margin improvements. The costs associated with these efforts, which the Company refers to as restructuring charges, include such items as employee separation costs, lease termination expenses and losses on disposal of excess fixed assets. When these efforts are related to circumstances that are significant, unique in nature and outside of the course of the Company’s normal and periodic business streamlining efforts, the related amount of restructuring charges included within the consolidated financial statements is aggregated and accompanied by a discussion of the nature of such restructuring activities. Restructuring charges are included within the applicable line item(s) in the consolidated statement of operations based on the nature of the expense incurred. Litigation and Contingencies Accruals for litigation and contingencies are reflected in the consolidated financial statements based on management’s assessment, including advice of legal counsel, of the expected outcome of litigation or other dispute resolution proceedings and/or the expected resolution of contingencies. Liabilities for estimated losses are accrued if the potential loss from any claim or legal proceeding is considered probable and the amount can be reasonably estimated. Significant judgment is required in both the determination of probability of loss and the determination as to whether the amount is reasonably estimable. Accruals are based on information available at the time of the assessment due to the uncertain nature of such matters. As additional information becomes available, management reassesses potential liabilities related to pending claims and litigation and may revise its previous estimates, which could materially affect the Company’s results of operations in a given period. Comprehensive Income (Loss) Comprehensive income or loss is a measure of net income and other changes in equity that result from transactions other than those with shareholders. Comprehensive income or loss and related accumulated comprehensive income or loss balances consist of net income, foreign currency translation adjustments, primarily from fluctuations in foreign currency exchange rates of the Company’s foreign subsidiaries with a functional currency other than the U.S. dollar, unrealized gains and losses from certain investment activities and net income or loss attributable to non-controlling interests. Recent Accounting Pronouncements See allowance for credit losses discussion within Significant Accounting Policies above, and the recent accounting pronouncements discussion below, for information pertaining to the effects of recently adopted and other recent accounting pronouncements. Accounting Pronouncements Adopted in 2020 In August 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40) Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (“ASU 2018-15”) to reduce diversity in practice in accounting for the costs of implementing cloud computing arrangements that are service contracts. ASU 2018-15 aligns the requirements for capitalizing implementation costs incurred in a cloud computing arrangement that is a service contract with the requirements for internal-use software. Accounting for the service element of the cloud computing arrangement is not affected by the new guidance. Under ASU 2018-15, amortization expense, payments for and asset balances related to such capitalized implementation costs are to be presented within the same line items of the entity’s statements of operations, cash flows and balance sheets, respectively, as the related service fee activity and balances would be presented. ASU 2018-15, which the Company adopted on a prospective basis during the first quarter of 2020, did not have a material effect on the Company’s consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820) Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”). ASU 2018-13, which is intended to improve the effectiveness of fair value measurement disclosures, modifies the disclosure requirements for certain estimates and assumptions used in determining the fair value of assets and liabilities. ASU 2018-13, which the Company adopted during the first quarter of 2020, did not have a material effect on the Company’s consolidated financial statements. See Note 4 - Fair Value of Financial Instruments for disclosure updates pertaining to significant unobservable inputs used to develop fair value estimates for certain of the Company’s Level 3 financial instruments. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments. This ASU, together with its related clarifying ASUs (collectively, “ASU 2016-13”), introduced an expected credit loss methodology for the measurement and recognition of credit losses on most financial assets, including financial assets arising from revenue transactions, such as accounts receivable and contract assets. The new expected credit loss methodology, which is based on historical experience, current conditions and reasonable and supportable forecasts, replaced the incurred loss model for measuring and recognizing expected credit losses. The Company adopted this ASU in the first quarter of 2020 and incorporated this guidance into its methodology for estimating its accounts receivable allowances. Based on historical trends, the financial condition of the Company’s customers and management’s expectations of economic and industry factors affecting the Company’s customers, ASU 2016-13 did not have a material effect on the Company’s consolidated financial statements upon adoption. For additional information about the Company’s allowance for credit losses see discussion within Significant Accounting Policies above, and Note 5 - Accounts Receivable, Net of Allowance, and Contract Assets and Liabilities. Accounting Pronouncements To Be Adopted in 2021 In January 2020, the FASB issued ASU 2020-01, Investments-Equity Securities (Topic 321), Investments-Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815): Clarifying the Interactions between Topic 321, Topic 323, and Topic 815 (“ASU 2020-01”) to clarify the interaction in accounting for equity securities under Topic 321, investments accounted for under the equity method of accounting in Topic 323 and the accounting for certain forward contracts and purchased options accounted for under Topic 815. ASU 2020-01 is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2020. This ASU is not expected to have a material effect on the Company’s consolidated financial statements. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which eliminates certain exceptions to the existing guidance for income taxes related to the approach for intra-period tax allocations, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. This ASU also simplifies the accounting for income taxes by clarifying and amending existing guidance related to the effects of enacted changes in tax laws or rates in the effective tax rate computation, the recognition of franchise tax and the evaluation of a step-up in the tax basis of goodwill, among other clarifications. ASU 2019-12 is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2020. The Company is currently evaluating the potential effects of this ASU, however, does not expect that its adoption will have a material effect on the Company’s consolidated financial statements. Other Recent Accounting Pronouncements In March 2020, the FASB issued ASU 2020-04, Reference Reform Rate (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”) to provide temporary optional expedients and exceptions to the contract modifications, hedge relationships and other transactions affected by reference rate reform if certain criteria are met. This ASU, which was effective upon issuance and may be applied through December 31, 2022, is applicable to all contracts and hedging relationships that reference the London Interbank Offered Rate or any other reference rate expected to be discontinued. The guidance in ASU 2020-04 may be implemented over time as reference rate reform activities occur. The Company is currently evaluating the potential effects of this ASU, however, does not expect reference rate reform to have a material effect on its consolidated financial statements as the Company’s current Credit Facility agreement provides for the replacement of LIBOR with an alternative benchmark rate should LIBOR become unavailable.

Business, Basis of Presentation and Significant Accounting Policies (Narrative) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($) numberOfSegments	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Business, Basis Of Presentation And Significant Accounting Policies [Line Items]
Number of reportable segments \| numberOfSegments	5
Valuation allowances for inventory	$ 8,500	$ 7,700
Cash held by proportionately consolidated entities	423,118	71,427
Financing costs incurred	8,900	5,500
Amortization of deferred financing costs	3,000	2,900	$ 2,900
Deferred financing costs, net of accumulated amortization	16,000	12,400
Accrued payroll taxes	59,000
4.875% Senior Notes [Member] \| Senior Notes [Member]
Business, Basis Of Presentation And Significant Accounting Policies [Line Items]
Write off of deferred debt issuance cost	$ 2,300
Debt instrument, interest rate (percentage)	4.875%
4.50% Senior Notes [Member] \| Senior Notes [Member]
Business, Basis Of Presentation And Significant Accounting Policies [Line Items]
Debt instrument, interest rate (percentage)	4.50%
Loans Receivable [Member]
Business, Basis Of Presentation And Significant Accounting Policies [Line Items]
Financing arrangement	$ 3,000
Financing receivable	3,000
Self-Insurance [Member] \| Workers' Compensation Policy [Member]
Business, Basis Of Presentation And Significant Accounting Policies [Line Items]
Per claim deductible, insurance policies	2,000
Self-Insurance [Member] \| General Liability Policy [Member]
Business, Basis Of Presentation And Significant Accounting Policies [Line Items]
Per claim deductible, insurance policies	4,000
Self-Insurance [Member] \| Property Insurance Policy [Member] \| Automobile Liability [Member]
Business, Basis Of Presentation And Significant Accounting Policies [Line Items]
Per claim deductible, insurance policies	10,000
Self-Insurance [Member] \| Employee Group Medical Claims Policy [Member]
Business, Basis Of Presentation And Significant Accounting Policies [Line Items]
Loss contingency, maximum loss per employee	600
Proportionately Consolidated Non-Controlled Joint Venture [Member]
Business, Basis Of Presentation And Significant Accounting Policies [Line Items]
Cash held by proportionately consolidated entities	$ 8,200	$ 13,100
Maximum [Member]
Business, Basis Of Presentation And Significant Accounting Policies [Line Items]
Lease, term of contract	8 years
Facility Leases [Member] \| Minimum [Member]
Business, Basis Of Presentation And Significant Accounting Policies [Line Items]
Lease, renewal term	1 year
Facility Leases [Member] \| Maximum [Member]
Business, Basis Of Presentation And Significant Accounting Policies [Line Items]
Lease, renewal term	5 years
Equipment Leases [Member] \| Minimum [Member]
Business, Basis Of Presentation And Significant Accounting Policies [Line Items]
Lease, renewal term	1 year
Equipment Leases [Member] \| Maximum [Member]
Business, Basis Of Presentation And Significant Accounting Policies [Line Items]
Lease, renewal term	5 years

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Schedule of Earnings Per Share Information

The following table provides details underlying the Company’s earnings per share calculations for the periods indicated (in thousands):


	For the Years Ended December 31,
	2020		2019		2018
Net income attributable to MasTec:
Net income - basic and diluted (a)	$	322,848	$	392,334	$	259,659
Weighted average shares outstanding:
Weighted average shares outstanding - basic	72,799		75,185		78,695
Dilutive common stock equivalents (b)	916		661		1,077
Weighted average shares outstanding - diluted	73,715		75,846		79,772

(a) Calculated as total net income less amounts attributable to non-controlling interests.

Other Retirement Plans (Tables)

12 Months Ended

Dec. 31, 2020

Retirement Benefits [Abstract]

Schedule of Multiemployer Pension Plans

Details of significant multiemployer pension plans as of and for the periods indicated, based upon information available to the Company from plan administrators as well as publicly available information on the U.S. Department of Labor website, are provided in the following table:

Contributions
(in millions)
For the Years Ended December 31,

Pension Protection Act Zone Status

Multiemployer Pension Plan

Employer Identification Number

Plan Number

2020

2019

2018

Expiration Date of CBA

2020

As of

2019

As of

FIP/RP Status

Surcharge

Central Pension Fund of the IUOE & Participating Employers

366052390

001

5.6

12.6

20.4

5/31/2023

Green

1/31/2020

Green

1/31/2019

IBEW Local 1249 Pension Plan

156035161

001

3.7

3.2

2.2

5/2/2021

Green

12/31/2019

Green

12/31/2018

Pipeline Industry Pension Fund

736146433

001

2.6

9.6

20.7

5/31/2023

Green

12/31/2019

(a)

Green

12/31/2018

(a)

Teamsters National Pipe Line Pension Plan

461102851

001

1.8

4.5

7.4

5/31/2023

Green

12/31/2019

(a)

Green

12/31/2018

(a)

Laborers' District Council of Western Pennsylvania Pension Fund

256135576

001

1.8

1.9

1.4

5/31/2023

Yellow

12/31/2019

Yellow

12/31/2018

Implemented

National Electrical Benefit Fund

530181657

001

1.6

1.2

1.4

Varies through 12/31/2023

Green

12/31/2019

Green

12/31/2018

West Virginia Laborers' Pension Trust Fund

556026775

001

1.4

4.9

4.5

5/31/2023

Green

3/31/2020

(a)

Green

3/31/2019

(a)

International Union of Operating Engineers Local 132 Pension Fund

556015364

001

1.2

5.0

5.6

5/31/2023

Green

3/31/2020

(a)

Green

3/31/2019

(a)

Midwest Operating Engineers Pension Trust Fund

366140097

001

1.1

1.8

1.5

5/31/2023

Green

3/31/2020

(b)

Yellow

3/31/2019

(b)

Laborers' Local Union No. 158 Pension Plan

236580323

001

0.9

1.5

5/31/2023

Green

12/31/2019

(a)

Green

12/31/2018

(a)

Central Laborers' Pension Fund

376052379

001

0.8

1.3

0.9

5/31/2023

Yellow

12/31/2019

(b)

Yellow

12/31/2018

(b)

Implemented

Laborers' National Pension Fund

751280827

001

0.8

3.0

4.1

5/31/2023

Red

12/31/2019

Red

12/31/2018

(a)

Implemented

Employer - Teamsters Local Nos. 175 & 505 Pension Trust Fund

556021850

001

0.6

1.7

1.5

5/31/2023

Red

12/31/2019

(a), (b)

Red

12/31/2018

(a), (b)

Implemented

Laborers District Council & Contractors Pension Fund of Ohio

316129964

001

0.4

1.4

1.8

5/31/2023

Green

12/31/2019

Green

12/31/2018

Michigan Laborers' Pension Plan

386233976

001

0.4

1.1

1.5

5/31/2023

Yellow

8/31/2020

Yellow

8/31/2019

(b)

Implemented

Laborers' Pension Fund of Roanoke, Virginia

546111015

001

0.3

1.5

2.5

5/31/2023

Green

9/30/2019

(a)

Green

9/30/2018

(a)

Other funds

5.0

10.7

13.5

Total multiemployer pension plan contributions

30.0

66.9

92.4

(a)The Company’s contributions to this plan represent greater than 5% of the plan’s total contributions.

(b)This plan has utilized extended amortization provisions, which provide plans with extensions of time to amortize pension funding shortfalls.

Schedule of Covered Employees and Contributions, Multiemployer Plans

Total contributions to multiemployer plans and the related number of employees covered by these plans were as follows:


	Multiemployer Plans
	Covered Employees		Contributions (in millions)
For the Years Ended December 31:	Low	High	Pension		Other Multiemployer		Total
2020	1,119	2,412	$	30.0	$	7.5	$	37.5
2019	1,119	5,349	$	66.9	$	5.7	$	72.6
2018	1,626	6,336	$	92.4	$	7.3	$	99.7

- Definition

Tabular disclosure of information about multiemployer plan.

+ References

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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Equity

12 Months Ended

Dec. 31, 2020

Equity [Abstract]

Equity

Note 11 – Equity

Share Activity

The Company’s share repurchase programs provide for the repurchase of shares of MasTec common stock from time to time in open market transactions or in privately negotiated transactions in accordance with applicable securities laws. The timing and the amount of any repurchases is determined based on market conditions, legal requirements, cash flow and liquidity needs and other factors. 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. Share repurchases, which are recorded at cost and are held in the Company’s treasury, are funded with available cash or with availability under the Credit Facility. The Company may use either authorized and unissued shares or treasury shares to meet share issuance requirements. Treasury stock is recorded at cost.

For the year ended December 31, 2020, the Company repurchased 3.6 million shares of its common stock, substantially all of which were repurchased in the first quarter, for an aggregate purchase price totaling approximately $120.2 million. Of the total repurchased shares, 0.6 million were repurchased for $28.8 million under a $150 million share repurchase program that was established in September 2018 and completed in the first quarter of 2020, and 3.0 million were repurchased for $91.4 million under the Company’s December 2018 $100 million share repurchase program. For the year ended December 31, 2019, share repurchases, which were completed under the Company’s September 2018 $150 million share repurchase program, totaled approximately $0.6 million. During the year ended December 31, 2018, the Company repurchased approximately 7.2 million shares of its common stock for an aggregate purchase price of $319.0 million. Of the total repurchased shares, 2.9 million were repurchased for $120.6 million under the Company’s September 2018 $150 million share repurchase program, 2.0 million were repurchased for $98.4 million under a $100 million share repurchase program that was established in 2016 and completed in 2018 and 2.3 million were repurchased under the Company’s March 2018 $100 million share repurchase program, which also was completed in 2018.

As of December 31, 2020, $158.6 million was available for future share repurchases under all of the Company’s open share repurchase programs, which included $8.6 million under the Company’s December 2018 share repurchase program, and the full amount of the Company’s March 2020 $150 million share repurchase program.

Accumulated Other Comprehensive Loss

A rollforward of activity within accumulated other comprehensive income (loss) for the periods indicated was as follows (in thousands):


	For the Years Ended December 31,
	2020						2019						2018
	Foreign Currency		Other		Total		Foreign Currency		Other		Total		Foreign Currency		Other		Total
Balance as of January 1	$	(65,685)	$	(10,021)	$	(75,706)	$	(65,496)	$	5,002	$	(60,494)	$	(62,851)	$	(861)	$	(63,712)
Unrealized gains (losses), net of tax	1,413		(17,151)		(15,738)		(189)		(15,023)		(15,212)		(2,645)		5,863		3,218
Balance as of December 31	$	(64,272)	$	(27,172)	$	(91,444)	$	(65,685)	$	(10,021)	$	(75,706)	$	(65,496)	$	5,002	$	(60,494)

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Rollforward of Goodwill by Reportable Segment

The following table provides a reconciliation of changes in goodwill by reportable segment for the periods indicated (in millions):


	Communications		Clean Energy and Infrastructure		Oil and Gas		Electrical Transmission		Total Goodwill
Goodwill, gross, as of December 31, 2018	$	467.8	$	143.1	$	455.6	$	149.9	$	1,216.4
Accumulated impairment loss (a)	—		—		(116.0)		—		(116.0)
Goodwill, net, as of December 31, 2018	$	467.8	$	143.1	$	339.6	$	149.9	$	1,100.4
Additions from new business combinations	73.2		9.5		37.7		—		120.4
Measurement period adjustments, net (b)	0.3		—		(0.4)		—		(0.1)
Currency translation adjustments	—		—		0.7		—		0.7
Goodwill, net, as of December 31, 2019	$	541.3	$	152.6	$	377.6	$	149.9	$	1,221.4
Additions from new business combinations	14.9		—		—		0.2		15.1
Measurement period adjustments, net (b)	5.9		0.1		0.1		—		6.1
Currency translation adjustments	—		—		0.4		—		0.4
Goodwill, net, as of December 31, 2020	$	562.1	$	152.7	$	378.1	$	150.1	$	1,243.0
Accumulated impairment loss (a)	—		—		(123.8)		—		(123.8)
Goodwill, gross, as of December 31, 2020	$	562.1	$	152.7	$	501.9	$	150.1	$	1,366.8

(a) Accumulated impairment losses include the effects of currency translation gains and/or losses.

(b) Represents adjustments to preliminary estimates of fair value within the measurement period of up to one year from the date of acquisition.

Rollforward of Other Intangible Assets

The following table provides a reconciliation of changes in other intangible assets, net, for the periods indicated (in millions):


	Other Intangible Assets
	Non-Amortizing				Amortizing
	Trade Names		Pre-Qualifications		Customer Relationships and Backlog		Pre-Qualifications		Other (a)		Total
Other intangible assets, gross, as of December 31, 2018	$	34.5	$	74.0	$	224.4	$	—	$	21.1	$	354.0
Accumulated amortization					(170.0)		—		(14.6)		(184.6)
Other intangible assets, net, as of December 31, 2018	$	34.5	$	74.0	$	54.4	$	—	$	6.5	$	169.4
Additions from new business combinations	—		0.2		67.7		—		5.2		73.1
Measurement period adjustments (b)	—		—		(6.7)		—		(0.2)		(6.9)
Intangible asset impairment	—		(3.3)		—		—		—		(3.3)
Currency translation adjustments	—		2.0		0.1		—		0.1		2.2
Amortization expense					(20.2)		—		(2.8)		(23.0)
Other intangible assets, net, as of December 31, 2019	$	34.5	$	72.9	$	95.3	$	—	$	8.8	$	211.5
Additions from new business combinations	—		—		11.0		—		0.1		11.1
Classification changes (c)	—		(69.8)		—		69.8		—		—
Measurement period adjustments (b)	—		—		(0.2)		—		—		(0.2)
Currency translation adjustments	—		(3.1)		—		3.6		—		0.5
Amortization expense					(26.7)		(10.2)		(2.0)		(38.9)
Other intangible assets, net, as of December 31, 2020	$	34.5	$	—	$	79.4	$	63.2	$	6.9	$	184.0
Remaining weighted average amortization period (in years)					9		11		6		10

(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.

(c) In connection with its first quarter 2020 assessment of goodwill and indefinite-lived intangible assets, management reassessed the indefinite-life classification of its two pre-qualification intangible assets. Management determined that, based on changes in the assets’ characteristics, including current and expected changes in the customer mix of the associated reporting units, a finite-life classification for these assets was more appropriate. As a result, the Company changed the classification of these intangible assets from indefinite-lived to finite-lived and began amortizing them on an accelerated basis in the first quarter of 2020, at which time their estimated remaining weighted average useful life was approximately 12 years.

Schedule of Expected Future Amortization Expense

Expected future amortization expense as of December 31, 2020 is summarized in the following table (in millions):


	Amortization Expense
2021	$	31.7
2022	25.4
2023	19.7
2024	15.3
2025	11.7
Thereafter	45.7
Total	$	149.5

Schedule of Consideration Paid and Net Assets Acquired, Business Combinations

The following table summarizes the fair values of consideration paid and net assets acquired for the 2019 acquisitions as of the respective dates of acquisition, as adjusted (in millions):


Acquisition consideration:	2019
Cash, net of cash acquired and other	$	176.4
Estimated fair value of contingent consideration and other liabilities	40.1
Total consideration transferred	$	216.5
Identifiable assets acquired and liabilities assumed:
Current assets, primarily composed of accounts receivable	$	92.6
Property and equipment, including finance leases and other long-term assets	56.1
Amortizing intangible assets	65.9
Current liabilities, including current portion of finance lease obligations and long-term debt	(89.0)
Long-term debt, including finance lease obligations	(2.4)
Deferred income taxes and other long-term liabilities	(27.5)
Total identifiable net assets	$	95.7
Goodwill	$	120.8
Total net assets acquired, including goodwill	$	216.5

Other Retirement Plans

12 Months Ended

Dec. 31, 2020

Retirement Benefits [Abstract]

Other Retirement Plans

Note 10 – Other Retirement Plans

Multiemployer Plans

As discussed in Note 1 - Business, Basis of Presentation and Significant Accounting Policies, 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 to their union employees and contribute certain amounts to MEPPs. The PPA defines the funding rules for defined benefit pension plans and establishes funding classifications for U.S.-registered multiemployer pension plans. Under the PPA, plans are classified into one of the following five categories, based on multiple factors, also referred to as a plan’s “zone status”: Green (safe), Yellow (endangered), Orange (seriously endangered), and Red (critical or critical and declining). Factors included in the determination of a plan’s zone status include: funded percentage, cash flow position and whether the plan is projecting a minimum funding deficiency.

A multiemployer plan that is so underfunded as to be in “endangered,” “seriously endangered,” “critical,” or “critical and declining” status (as determined under the PPA) is required to adopt a funding improvement plan (“FIP”) or a rehabilitation plan (“RP”), which, among other actions, could include decreased benefits and increased employer contributions, which could take the form of a surcharge on benefit contributions. These

actions are intended to improve their funding status over a period of years. If a pension fund is in critical status, a participating employer must pay an automatic surcharge in addition to contributions otherwise required under the collective bargaining agreement (“CBA”). With some exceptions, the surcharge is equal to 5% of required contributions for the initial critical year and 10% for each succeeding plan year in which the plan remains in critical status. The surcharge ceases on the effective date of a CBA (or other agreement) that includes contribution and benefit terms consistent with the rehabilitation plan. Certain plans in which the Company participates are in “endangered,” “seriously endangered,” “critical,” or “critical and declining” status. The amount of additional funds, if any, that the Company may be obligated to contribute to these plans in the future cannot be estimated due to the uncertainty of the future levels of work that could be required of the union employees covered by these plans, as well as the required future contribution rates and possible surcharges applicable to these plans. See Note 14 - Commitments and Contingencies for additional information.

Contributions
(in millions)
For the Years Ended December 31,

Pension Protection Act Zone Status

Multiemployer Pension Plan

Employer Identification Number

Plan Number

2020

2019

2018

Expiration Date of CBA

2020

As of

2019

As of

FIP/RP Status

Surcharge

Central Pension Fund of the IUOE & Participating Employers

366052390

001

5.6

12.6

20.4

5/31/2023

Green

1/31/2020

Green

1/31/2019

IBEW Local 1249 Pension Plan

156035161

001

3.7

3.2

2.2

5/2/2021

Green

12/31/2019

Green

12/31/2018

Pipeline Industry Pension Fund

736146433

001

2.6

9.6

20.7

5/31/2023

Green

12/31/2019

(a)

Green

12/31/2018

(a)

Teamsters National Pipe Line Pension Plan

461102851

001

1.8

4.5

7.4

5/31/2023

Green

12/31/2019

(a)

Green

12/31/2018

(a)

Laborers' District Council of Western Pennsylvania Pension Fund

256135576

001

1.8

1.9

1.4

5/31/2023

Yellow

12/31/2019

Yellow

12/31/2018

Implemented

National Electrical Benefit Fund

530181657

001

1.6

1.2

1.4

Varies through 12/31/2023

Green

12/31/2019

Green

12/31/2018

West Virginia Laborers' Pension Trust Fund

556026775

001

1.4

4.9

4.5

5/31/2023

Green

3/31/2020

(a)

Green

3/31/2019

(a)

International Union of Operating Engineers Local 132 Pension Fund

556015364

001

1.2

5.0

5.6

5/31/2023

Green

3/31/2020

(a)

Green

3/31/2019

(a)

Midwest Operating Engineers Pension Trust Fund

366140097

001

1.1

1.8

1.5

5/31/2023

Green

3/31/2020

(b)

Yellow

3/31/2019

(b)

Laborers' Local Union No. 158 Pension Plan

236580323

001

0.9

1.5

5/31/2023

Green

12/31/2019

(a)

Green

12/31/2018

(a)

Central Laborers' Pension Fund

376052379

001

0.8

1.3

0.9

5/31/2023

Yellow

12/31/2019

(b)

Yellow

12/31/2018

(b)

Implemented

Laborers' National Pension Fund

751280827

001

0.8

3.0

4.1

5/31/2023

Red

12/31/2019

Red

12/31/2018

(a)

Implemented

Employer - Teamsters Local Nos. 175 & 505 Pension Trust Fund

556021850

001

0.6

1.7

1.5

5/31/2023

Red

12/31/2019

(a), (b)

Red

12/31/2018

(a), (b)

Implemented

Laborers District Council & Contractors Pension Fund of Ohio

316129964

001

0.4

1.4

1.8

5/31/2023

Green

12/31/2019

Green

12/31/2018

Michigan Laborers' Pension Plan

386233976

001

0.4

1.1

1.5

5/31/2023

Yellow

8/31/2020

Yellow

8/31/2019

(b)

Implemented

Laborers' Pension Fund of Roanoke, Virginia

546111015

001

0.3

1.5

2.5

5/31/2023

Green

9/30/2019

(a)

Green

9/30/2018

(a)

Other funds

5.0

10.7

13.5

Total multiemployer pension plan contributions

30.0

66.9

92.4

(a)The Company’s contributions to this plan represent greater than 5% of the plan’s total contributions.

(b)This plan has utilized extended amortization provisions, which provide plans with extensions of time to amortize pension funding shortfalls.

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 were as follows:


	Multiemployer Plans
	Covered Employees		Contributions (in millions)
For the Years Ended December 31:	Low	High	Pension		Other Multiemployer		Total
2020	1,119	2,412	$	30.0	$	7.5	$	37.5
2019	1,119	5,349	$	66.9	$	5.7	$	72.6
2018	1,626	6,336	$	92.4	$	7.3	$	99.7

The fluctuations in the number of employees covered under multiemployer plans and related contributions in the table above related primarily to timing of activity for the Company’s union resource-based projects, the majority of which are within its oil and gas operations.

- Definition

The entire disclosure for retirement benefits.

+ References

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+ Details

Quarterly Information (Unaudited)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Quarterly Information (Unaudited)

Note 16 – Quarterly Information (Unaudited)

The following table presents selected unaudited quarterly operating results for the years ended December 31, 2020 and 2019 (in millions, except per share data). The Company believes that all necessary adjustments have been included in the amounts stated below to present fairly the quarterly results when read in conjunction with the consolidated financial statements and notes thereto. The sum of the individual quarterly amounts to the full year amounts as disclosed below may contain slight summation differences due to rounding.


	For the 2020 Quarters Ended								For the 2019 Quarters Ended
	March 31		June 30		September 30		December 31		March 31		June 30		September 30		December 31
Revenue	$	1,416.6	$	1,569.3	$	1,698.3	$	1,636.8	$	1,518.3	$	1,939.0	$	2,016.6	$	1,709.3
Costs of revenue, excluding depreciation and amortization	$	1,226.3	$	1,341.8	$	1,380.5	$	1,322.2	$	1,312.0	$	1,633.4	$	1,690.6	$	1,434.2
Net income	$	36.1	$	56.8	$	116.9	$	112.9	$	43.1	$	120.2	$	130.1	$	100.7
Net income attributable to MasTec, Inc.	$	36.2	$	57.0	$	116.5	$	113.1	$	43.1	$	119.7	$	128.6	$	100.9
Earnings per share:
Basic	$	0.48	$	0.79	$	1.61	$	1.56	$	0.57	$	1.59	$	1.71	$	1.34
Diluted	$	0.48	$	0.78	$	1.59	$	1.54	$	0.57	$	1.58	$	1.69	$	1.33

Certain transactions affecting comparisons of the Company’s quarterly results, which may not represent the amounts recognized for the full year for such transactions, include the following:

(i) Loss on extinguishment of debt totaling $5.6 million in the third quarter of 2020;

(ii) Indefinite-lived pre-qualification intangible asset impairment charges, pretax, totaling $3.3 million in the fourth quarter of 2019;

(iii) Net tax deficiencies from the vesting of share-based payment awards of $0.1 million in the first quarter of 2020, and net tax benefits of $0.6 million in the fourth quarter of 2020. Net tax benefits from the vesting of share-based payment awards of $2.3 million and $1.6 million in the first and fourth quarters of 2019, respectively.

(iv) Income tax effects from changes in state tax rates totaling an expense of $2.5 million in the fourth quarter of 2020; and income tax effects from changes in Canadian provincial statutory tax rates as well as changes in state tax rates totaling benefits of $1.4 million, $0.5 million and $5.9 million in the second, third and fourth quarters of 2019, respectively.

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 423,118	$ 71,427
Accounts receivable, net of allowance	784,488	850,326
Contract assets	969,743	1,024,568
Inventories, net	89,645	100,069
Prepaid expenses	60,631	52,000
Other current assets	31,390	75,169
Total current assets	2,359,015	2,173,559
Property and equipment, net	982,328	905,835
Operating lease assets	176,573	229,903
Goodwill, net	1,243,034	1,221,440
Other intangible assets, net	184,043	211,528
Other long-term assets	282,856	254,741
Total assets	5,227,849	4,997,006
Current liabilities:
Current portion of long-term debt, including finance leases	145,110	118,429
Current portion of operating lease liabilities	72,481	81,561
Accounts payable	571,269	535,029
Accrued salaries and wages	135,316	87,562
Other accrued expenses	187,647	115,581
Contract liabilities	228,388	206,180
Other current liabilities	74,988	74,784
Total current liabilities	1,415,199	1,219,126
Long-term debt, including finance leases	1,157,632	1,314,030
Long-term operating lease liabilities	116,506	154,553
Deferred income taxes	302,938	296,326
Other long-term liabilities	230,049	221,280
Total liabilities	3,222,324	3,205,315
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 - 93,107,440 and 91,909,430 (including 1,843,041 and 1,221,593 of unvested stock awards) as of December 31, 2020 and 2019, respectively	9,311	9,191
Capital surplus	837,453	809,753
Retained earnings	1,833,557	1,510,709
Accumulated other comprehensive loss	(91,444)	(75,706)
Treasury stock, at cost: 18,941,926 shares and 15,344,917 shares as of December 31, 2020 and 2019, respectively	(586,955)	(466,727)
Total MasTec, Inc. shareholders’ equity	2,001,922	1,787,220
Non-controlling interests	3,603	4,471
Total equity	2,005,525	1,791,691
Total liabilities and equity	$ 5,227,849	$ 4,997,006
Preferred stock, par value (in dollars per share)	$ 1.00	$ 1.00
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized	145,000,000	145,000,000
Common stock, shares issued	93,107,440	91,909,430
Treasury stock, shares	18,941,926	15,344,917
Common Stock [Member]
Equity
Total equity	$ 9,311	$ 9,191
Common stock, shares issued	93,107,440	91,909,430
Restricted Stock [Member] \| Common Stock [Member]
Unvested stock awards (in shares)	1,843,041	1,221,593

Fair Value of Financial Instruments (The Waha JVs) (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Equity method investments, equity in earnings (losses)	$ 29,738,000	$ 27,367,000	$ 23,855,000
Equity method investments, net investment	220,000,000	196,000,000
Unrealized gains (losses) on equity investee activity, net of tax	(17,151,000)	(15,023,000)	5,863,000
Waha JVs [Member]
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Equity method investments, equity in earnings (losses)	31,300,000	27,300,000	23,900,000
Equity method investments, distributions of earnings received, operating cash flows	12,000,000.0	9,100,000	10,900,000
Equity method investments, cumulative undistributed earnings	67,300,000
Equity method investments, equity contributions	0	1,000,000	28,000,000
Equity method investments, net investment	175,000,000	174,000,000
Unrealized gains (losses) on equity investee activity, before tax	(24,400,000)	(19,900,000)	7,700,000
Unrealized gains (losses) on equity investee activity, net of tax	$ (18,500,000)	$ (15,000,000.0)	$ 5,900,000

Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule II - Valuation and Qualifying Accounts [Roll Forward]
Balance at beginning of period	$ 97.9	$ 86.7	$ 83.6
Charges to cost and expense	59.2	61.7	42.8
Other additions	0.0	0.0	0.0
(Deductions)	(51.9)	(50.5)	(39.7)
Balance at end of period	105.2	97.9	86.7
Allowance for Credit Losses [Member]
Schedule II - Valuation and Qualifying Accounts [Roll Forward]
Balance at beginning of period	10.1	16.3	8.2
Charges to cost and expense	12.1	1.7	8.6
Other additions	0.0	0.0	0.0
(Deductions)	(1.7)	(7.9)	(0.5)
Balance at end of period	20.5	10.1	16.3
Unbilled Receivable Allowance [Member]
Schedule II - Valuation and Qualifying Accounts [Roll Forward]
Balance at beginning of period	31.3	22.0	27.2
Charges to cost and expense	38.5	49.7	33.0
Other additions	0.0	0.0	0.0
(Deductions)	(39.4)	(40.4)	(38.2)
Balance at end of period	30.4	31.3	22.0
Valuation Allowance for Inventory [Member]
Schedule II - Valuation and Qualifying Accounts [Roll Forward]
Balance at beginning of period	7.7	7.8	7.7
Charges to cost and expense	1.8	2.1	1.1
Other additions	0.0	0.0	0.0
(Deductions)	(1.0)	(2.2)	(1.0)
Balance at end of period	8.5	7.7	7.8
Valuation Allowance for Deferred Tax Assets [Member]
Schedule II - Valuation and Qualifying Accounts [Roll Forward]
Balance at beginning of period	48.8	40.6	40.5
Charges to cost and expense	6.8	8.2	0.1
Other additions	0.0	0.0	0.0
(Deductions)	(9.8)	0.0	0.0
Balance at end of period	$ 45.8	$ 48.8	$ 40.6

Lease Obligations (Schedule of Future Minimum Lease Commitments) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Finance Leases
2021	$ 141,500
2022	101,500
2023	47,600
2024	11,700
2025	500
Thereafter	0
Total minimum lease payments	302,800
Less amounts representing interest	(14,300)
Total lease obligations, net of interest	288,500
Less current portion	(132,600)
Long-term portion of lease obligations, net of interest	155,900
Operating Leases
2021	82,800
2022	49,200
2023	25,400
2024	16,200
2025	10,400
Thereafter	20,000
Total minimum lease payments	204,000
Less amounts representing interest	(15,000)
Total lease obligations, net of interest	189,000
Less current portion	72,481	$ 81,561
Long-term operating lease liabilities	$ 116,506	$ 154,553

Debt (Other Credit Facilities) (Narrative) (Details) $ in Millions	Dec. 31, 2020 USD ($)	Dec. 31, 2020 CAD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2019 CAD ($)
Debt Instrument [Line Items]
Letters of credit issued	$ 151.8		$ 115.1
Other Credit Facilities [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	15.7	$ 20,000,000.0	15.4	$ 20,000,000.0
Long-term debt obligations		$ 0		$ 0
Line of Credit [Member] \| Standby Letters of Credit [Member]
Debt Instrument [Line Items]
Letters of credit issued	18.2		$ 17.1
Line of Credit [Member] \| Letter of Credit [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 50.0
Line of Credit [Member] \| Letter of Credit [Member] \| Standby Letters of Credit [Member]
Debt Instrument [Line Items]
Line of credit facility, interest rate (percentage)	0.50%	0.50%	0.40%	0.40%

Segments and Related Information

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Segments and Related Information

Note 13 – 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) Electrical Transmission 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.

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 and other end-markets through the installation and construction of power generation facilities, including from clean energy and renewable sources, such as wind, solar and biomass, as well as 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 Electrical Transmission segment primarily serves the energy and utility industries through the engineering, construction and maintenance of electrical transmission lines 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 a variety of international end-markets.

The accounting policies of the reportable segments are the same as those described in Note 1 - Business, Basis of Presentation and Significant Accounting Policies. Intercompany revenue and costs among the reportable segments are de minimis and accounted for as if the sales were to third parties because these items are based on negotiated fees between the segments involved. All intercompany transactions and balances are eliminated in consolidation. Intercompany revenue and costs between entities within a reportable segment are eliminated to arrive at segment totals. Eliminations between segments are separately presented. Corporate results include amounts related to corporate functions such as administrative costs, professional fees, acquisition-related transaction costs (exclusive of acquisition integration costs, which are included within the segment results of the acquired businesses), and other discrete items, such as goodwill and/or intangible asset impairment. Segment results include certain allocations of centralized costs such as general liability, medical and workers’ compensation insurance and certain information technology costs. Income tax expense, which is recorded within corporate results, is managed on a consolidated basis and is not allocated to the reportable segments.

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

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


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

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

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


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


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


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


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

Foreign Operations and Other. MasTec operates in North America, primarily in the United States and Canada, and, to a lesser extent, in Mexico and the Caribbean. Revenue derived from U.S. operations totaled $6.2 billion, $6.9 billion and $6.7 billion for the years ended December 31, 2020, 2019 and 2018, respectively. Revenue derived from foreign operations totaled $133.1 million, $233.5 million and $164.3 million for the years ended December 31, 2020, 2019 and 2018, respectively, the majority of which was derived 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 $959.5 million, $874.7 million and $707.4 million as of December 31, 2020, 2019 and 2018, respectively, and, for the Company’s businesses in foreign countries, totaled $22.8 million, $31.1 million and $40.4 million, respectively. Intangible assets and goodwill, net, related to the Company’s U.S. operations totaled approximately $1.4 billion as of both December 31, 2020 and 2019 and totaled $1.2 billion as of December 31, 2018. For the Company’s businesses in foreign countries, intangible assets and goodwill, net, totaled approximately $50.5 million, $56.4 million and $61.5 million, as of December 31, 2020, 2019 and 2018, respectively. The majority of the Company’s long-lived and intangible assets and goodwill in foreign countries relate to its Canadian operations. As of December 31, 2020, 2019 and 2018, amounts due from customers from which foreign

revenue was derived accounted for approximately 5% of the Company’s consolidated net accounts receivable position for each year, which represents accounts receivable, net, less deferred revenue. Revenue from governmental entities for the year ended December 31, 2020 totaled approximately 2%, and for each of the years ended December 31, 2019 and 2018, was less than 1% of total revenue, substantially all of which was derived from the Company’s U.S. operations.

Significant Customers

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


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

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

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

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Fair Value of Financial Instruments (Other Investments - Telecommunications Entities) (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Equity method investments, net investment	$ 220,000	$ 196,000
Equity method investments, equity in earnings (losses)	29,738	27,367	$ 23,855
Equity Investee [Member] \| Subcontracting Arrangements [Member]
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Payments, related party	11,500	$ 7,000
Payables, related party	200
FM Tech [Member]
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Equity method investments, net investment	16,000
Telecommunications Equity Method Investees
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Equity method investments, equity in earnings (losses)	$ (1,500)

Accounts Receivable, Net of Allowance, and Contract Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2020

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):


	December 31,
	2020		2019
Contract billings	$	805.0	$	860.4
Less allowance	(20.5)		(10.1)
Accounts receivable, net of allowance	$	784.5	$	850.3

Retainage	$	287.7	$	345.2
Unbilled receivables	682.0		679.4
Contract assets	$	969.7	$	1,024.6

Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Note 3 – Goodwill and Other Intangible Assets

The following table provides a reconciliation of changes in goodwill by reportable segment for the periods indicated (in millions):


	Communications		Clean Energy and Infrastructure		Oil and Gas		Electrical Transmission		Total Goodwill
Goodwill, gross, as of December 31, 2018	$	467.8	$	143.1	$	455.6	$	149.9	$	1,216.4
Accumulated impairment loss (a)	—		—		(116.0)		—		(116.0)
Goodwill, net, as of December 31, 2018	$	467.8	$	143.1	$	339.6	$	149.9	$	1,100.4
Additions from new business combinations	73.2		9.5		37.7		—		120.4
Measurement period adjustments, net (b)	0.3		—		(0.4)		—		(0.1)
Currency translation adjustments	—		—		0.7		—		0.7
Goodwill, net, as of December 31, 2019	$	541.3	$	152.6	$	377.6	$	149.9	$	1,221.4
Additions from new business combinations	14.9		—		—		0.2		15.1
Measurement period adjustments, net (b)	5.9		0.1		0.1		—		6.1
Currency translation adjustments	—		—		0.4		—		0.4
Goodwill, net, as of December 31, 2020	$	562.1	$	152.7	$	378.1	$	150.1	$	1,243.0
Accumulated impairment loss (a)	—		—		(123.8)		—		(123.8)
Goodwill, gross, as of December 31, 2020	$	562.1	$	152.7	$	501.9	$	150.1	$	1,366.8

(a) Accumulated impairment losses include the effects of currency translation gains and/or losses.

(b) 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 periods indicated (in millions):


	Other Intangible Assets
	Non-Amortizing				Amortizing
	Trade Names		Pre-Qualifications		Customer Relationships and Backlog		Pre-Qualifications		Other (a)		Total
Other intangible assets, gross, as of December 31, 2018	$	34.5	$	74.0	$	224.4	$	—	$	21.1	$	354.0
Accumulated amortization					(170.0)		—		(14.6)		(184.6)
Other intangible assets, net, as of December 31, 2018	$	34.5	$	74.0	$	54.4	$	—	$	6.5	$	169.4
Additions from new business combinations	—		0.2		67.7		—		5.2		73.1
Measurement period adjustments (b)	—		—		(6.7)		—		(0.2)		(6.9)
Intangible asset impairment	—		(3.3)		—		—		—		(3.3)
Currency translation adjustments	—		2.0		0.1		—		0.1		2.2
Amortization expense					(20.2)		—		(2.8)		(23.0)
Other intangible assets, net, as of December 31, 2019	$	34.5	$	72.9	$	95.3	$	—	$	8.8	$	211.5
Additions from new business combinations	—		—		11.0		—		0.1		11.1
Classification changes (c)	—		(69.8)		—		69.8		—		—
Measurement period adjustments (b)	—		—		(0.2)		—		—		(0.2)
Currency translation adjustments	—		(3.1)		—		3.6		—		0.5
Amortization expense					(26.7)		(10.2)		(2.0)		(38.9)
Other intangible assets, net, as of December 31, 2020	$	34.5	$	—	$	79.4	$	63.2	$	6.9	$	184.0
Remaining weighted average amortization period (in years)					9		11		6		10

(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.

Expected future amortization expense as of December 31, 2020 is summarized in the following table (in millions):


	Amortization Expense
2021	$	31.7
2022	25.4
2023	19.7
2024	15.3
2025	11.7
Thereafter	45.7
Total	$	149.5

2020 Acquisitions. During 2020, MasTec completed five acquisitions. These acquisitions included the equity interests of two entities. Through a consolidated subsidiary, the Company acquired all of the equity interests in a heavy civil infrastructure construction company that is included within the Company’s Clean Energy and Infrastructure segment. As of the date of acquisition, the Company’s ownership interest in the consolidated subsidiary was 96%, and as of December 31, 2020, was 91%, with a portion of the non-controlling interests owned by members of subsidiary management. The Company also acquired all of the equity interests in a utility service and telecommunications construction contractor that is included within the Company’s Communications segment. The Company also acquired the assets of three entities, one that specializes in wireless telecommunications and one that specializes in install-to-the-home services, both of which are included within the Company’s Communications segment and one that specializes in electrical transmission services that is included within the Company’s Electrical transmission segment.

The aggregate purchase price for these entities was composed of approximately $23.5 million in cash, net of cash acquired, with an additional $3.2 million due through 2023, subject to certain indemnification provisions, and a five-year earn-out liability valued at approximately $8.3 million. Earn-outs are generally payable annually and are recorded within other current and other long-term liabilities in the consolidated balance sheets. As of December 31, 2020, the range of remaining potential undiscounted earn-out liabilities for the 2020 acquisitions was estimated to be between $1 million and $13 million; however, there is no maximum payment amount. Determination of the estimated fair values of the net assets acquired and the estimated earn-out liabilities for these acquisitions was preliminary as of December 31, 2020; as a result, further adjustments to these estimates may occur.

2019 Acquisitions. During 2019, MasTec completed six acquisitions, one of which specializes in water infrastructure for pipeline companies and is included within the Company’s Oil and Gas segment, four of which are included within the Company’s Communications segment, including a wireline/fiber deployment construction contractor and a telecommunications company specializing in a broad range of end-to-end wireless telecommunications solutions, and one of which specializes in construction projects in the power industry and is included in the Company’s Clean Energy and Infrastructure segment. For all but one of these acquisitions, the Company acquired all of the equity interests in the related entities. For the telecommunications company specializing in wireless telecommunications solutions, the Company acquired 96% of the entity’s equity interests, with the obligation to acquire the balance over time.

The following table summarizes the fair values of consideration paid and net assets acquired for the 2019 acquisitions as of the respective dates of acquisition, as adjusted (in millions):


Acquisition consideration:	2019
Cash, net of cash acquired and other	$	176.4
Estimated fair value of contingent consideration and other liabilities	40.1
Total consideration transferred	$	216.5
Identifiable assets acquired and liabilities assumed:
Current assets, primarily composed of accounts receivable	$	92.6
Property and equipment, including finance leases and other long-term assets	56.1
Amortizing intangible assets	65.9
Current liabilities, including current portion of finance lease obligations and long-term debt	(89.0)
Long-term debt, including finance lease obligations	(2.4)
Deferred income taxes and other long-term liabilities	(27.5)
Total identifiable net assets	$	95.7
Goodwill	$	120.8
Total net assets acquired, including goodwill	$	216.5

Amortizing intangible assets related to the 2019 acquisitions are primarily composed of customer relationships, backlog and certain other intangible assets, which had weighted average lives, as adjusted, of approximately 12 years, 3 years and 5 years, respectively, and a weighted average life of 11 years in total. 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 the respective acquisitions represent the estimated value of each acquired company’s geographic presence in key markets, its assembled workforce and management team’s industry-specific project management expertise, as well as synergies expected to be achieved from the combined operations of the acquired companies and MasTec. Approximately $8 million of the goodwill balance

related to the 2019 acquisitions is expected to be tax deductible as of December 31, 2020. Additionally, current liabilities in the table above include amounts due to former owners, who, subsequent to acquisition, are members of subsidiary management, of approximately $11 million, of which $2 million was subsequently paid during 2019 pursuant to the terms of the related purchase agreement.

The contingent consideration and other liabilities included in the table above is composed of $22.3 million 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, and a mandatorily redeemable non-controlling interest, subject to a repurchase formula (collectively, “Earn-outs”), totaling $17.8 million, which is calculated in a manner consistent with the Company’s traditional earn-out arrangements. Earn-outs are generally payable annually for a period of five years, as set forth in the respective purchase agreements. The fair values of the Earn-outs were estimated using income approaches such as discounted cash flows or option pricing models and incorporate significant inputs not observable in the market. Key assumptions in the estimated valuations include the discount rate and probability-weighted EBITDA projections. Significant changes in any of these assumptions could result in significantly higher or lower potential Earn-out liabilities. As of December 31, 2020, the range of remaining potential undiscounted Earn-out liabilities for the 2019 acquisitions was estimated to be between $4 million and $51 million; however, there is no maximum payment amount.

2018 Acquisitions. During 2018, MasTec acquired all of the equity interests in a construction management firm specializing in steel building systems and acquired a wind turbine services company, both of which are included in the Company’s Clean Energy and Infrastructure segment. The aggregate purchase price for these entities, as adjusted, was composed of approximately $5.1 million in cash, net of cash acquired, and estimated earn-out liabilities, net, totaling $1.5 million. As of December 31, 2020, the range of remaining potential undiscounted earn-out liabilities, net, for the 2018 acquisitions was estimated to be up to $4 million; however, there is no maximum payment amount.

Pro Forma Financial Information and Acquisition Results. For the years ended December 31, 2020, 2019 and 2018, unaudited supplemental pro forma revenue totaled approximately $6.4 billion, $7.6 billion and $7.4 billion, respectively, and unaudited supplemental pro forma net income totaled approximately $334.5 million, $406.6 million and $258.7 million, respectively.

These unaudited pro forma financial results include the results of operations of acquired companies as if those companies had been consolidated as of the beginning of the year prior to their acquisition, and are provided for illustrative purposes only. These unaudited pro forma financial results do not purport to be indicative of the actual results that would have been achieved by the combined companies for the periods indicated, or of the results that may be achieved by the combined companies in the future. The Company’s unaudited pro forma financial results were prepared by adding the unaudited historical results of acquired businesses to the historical results of MasTec, and then adjusting those combined results for (i) acquisition costs; (ii) amortization expense from acquired intangible assets; (iii) interest expense from cash consideration paid; (iv) interest expense from debt repaid upon acquisition; and (iv) other purchase accounting related adjustments. These unaudited pro forma financial results do not include adjustments to reflect other cost savings or synergies that may have resulted from these acquisitions. Future results may vary significantly due to future events and other factors, many of which are beyond the Company’s control.

For the years ended December 31, 2020, 2019 and 2018, the Company’s consolidated results of operations included acquisition-related revenue of approximately $229.9 million, $188.3 million and $154.4 million, respectively, and included acquisition-related net losses of approximately $6.7 million and $1.4 million for the years ended December 31, 2020 and 2019, respectively, and acquisition-related net income of approximately $1.4 million for the year ended December 31, 2018, based on the Company’s consolidated effective tax rates. These acquisition-related results do not include the effects of acquisition costs or interest expense associated with consideration paid for the related acquisitions.

Related Party Transactions (Construction Management Firm and CCI) (Narrative) (Details) - Immediate Family Member of Management [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Construction Management Firm Specializing in Steel Building Systems [Member]
Related Party Transaction [Line Items]
Payments to acquire businesses, gross			$ 6.1
Business combinations, contingent consideration, earn-out liabilities			1.4
Advances outstanding, related party	$ 0.1	$ 0.5
CCI [Member] \| Equipment [Member]
Related Party Transaction [Line Items]
Payments, net of rebates, related party	6.8	41.7	$ 57.6
Payables, related party	4.2	$ 0.2
Revenue, related party	$ 0.9

Accounts Receivable, Net of Allowance, and Contract Assets and Liabilities

12 Months Ended

Dec. 31, 2020

Receivables [Abstract]

Accounts Receivable, Net of Allowance, and Contract Assets and Liabilities

Note 5 – 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):


	December 31,
	2020		2019
Contract billings	$	805.0	$	860.4
Less allowance	(20.5)		(10.1)
Accounts receivable, net of allowance	$	784.5	$	850.3

Retainage	$	287.7	$	345.2
Unbilled receivables	682.0		679.4
Contract assets	$	969.7	$	1,024.6

Contract billings represent the amount of performance obligations that have been billed but have not yet been 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). Retainage is not considered to be a significant financing component because the intent is to protect the customer. Unbilled receivables and retainage amounts are generally classified as current assets within the Company’s consolidated balance sheets. The decrease in the retainage balance as of December 31, 2020 was driven largely by timing of project activity in the Company’s Oil and Gas segment, offset, in part, by increases in project activity in the Clean Energy and Infrastructure segment. Retainage that has been billed, but is not due until completion of performance and acceptance by customers, is generally expected to be collected within one year. Accounts receivable balances expected to be collected beyond one year are recorded within other long-term assets. For the years ended December 31, 2020 and 2019, provisions for credit losses, including potential credit losses from current economic uncertainty, totaled $12.1 million and $1.7 million, respectively, and amounts charged against the allowance, including direct write-offs totaled $1.7 million and $7.9 million, respectively. Impairment losses on contract assets were not material for the years ended December 31, 2020, 2019 and 2018.

Contract liabilities, which are generally classified within current liabilities on the Company’s consolidated balance sheets, 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. Deferred revenue is not considered to be a significant financing component because it is generally used to meet working capital demands that can be higher in the early stages of a contract. Contract liabilities also include the amount of any accrued project losses. Total contract liabilities, including accrued project losses, totaled approximately $228.4 million and $206.2 million as of December 31, 2020 and 2019, respectively, of which deferred revenue comprised approximately $203.0 million and $184.1 million, respectively. For the years ended December 31, 2020 and 2019, the Company recognized revenue of approximately $159.6 million and $199.2 million, respectively, related to amounts that were included in deferred revenue as of December 31, 2019 and 2018, respectively, resulting primarily from the advancement of physical progress on the related projects during the related 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. These arrangements, under which amounts can vary based on levels of activity, interest rates and changes in customer payment terms, improve the collection cycle time of the related receivables. Cash collected from these arrangements is reflected within cash provided by operating activities in the consolidated statements of cash flows. Discount charges related to these arrangements, which are included within interest expense, net, totaled approximately $5.0 million, $10.1 million and $11.1 million for the years ended December 31, 2020, 2019 and 2018, respectively.

Fair Value of Financial Instruments (Other Investments - AVCT) (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Financial Instruments Measured on a Recurring Basis [Line Items]
Equity investments, adjusted cost basis, amount	$ 17.0	$ 18.0
AVCT [Member]
Fair Value, Financial Instruments Measured on a Recurring Basis [Line Items]
Equity investment ownership percentage	9.00%	21.00%
Beneficial ownership of all interests percentage	21.00%	21.00%
Equity investment and warrants, amount paid (in dollars)	$ 5.0
Unrealized fair value measurement gains, net, AVCT shares	10.1
Unrealized gains on AVCT convertible debentures, before tax	1.8
Unrealized gains on AVCT convertible debentures, net of tax	1.4
Equity investments, adjusted cost basis, amount		$ 2.0
AVCT [Member] \| Common Stock [Member]
Fair Value, Financial Instruments Measured on a Recurring Basis [Line Items]
Equity securities, fair value	$ 17.0

Income Taxes (Schedule of Effective Tax Rate Reconciliation) (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
U.S. statutory federal rate applied to pretax income	21.00%	21.00%	21.00%
State and local income taxes, net of federal benefit	4.30%	3.20%	4.20%
Foreign tax rate differential	(0.20%)	0.20%	1.50%
Non-deductible expenses	1.50%	1.70%	1.70%
Goodwill and intangible assets	(0.20%)	(0.50%)	3.60%
Change in tax rate	0.60%	(1.50%)	(2.80%)
Other	(0.60%)	(1.00%)	(2.40%)
Tax credits	(1.20%)	(0.60%)	(0.40%)
Stock basis adjustment	0.00%	(1.80%)	0.00%
Valuation allowance for deferred tax assets	(1.10%)	2.20%	2.60%
Effective income tax rate	24.10%	22.90%	29.00%

Earnings Per Share (Schedule of Earnings Per Share Information) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Net income attributable to MasTec:
Net income - basic (in dollars)	$ 113,100	$ 116,500	$ 57,000	$ 36,200	$ 100,900	$ 128,600	$ 119,700	$ 43,100	$ 322,848	$ 392,334	$ 259,659
Net income - diluted (in dollars)									$ 322,848	$ 392,334	$ 259,659
Weighted average shares outstanding:
Weighted average shares outstanding - basic									72,799,000	75,185,000	78,695,000
Dilutive common stock equivalents (in shares)									916,000	661,000	1,077,000
Weighted average shares outstanding - diluted									73,715,000	75,846,000	79,772,000
Anti-dilutive common stock (in shares)									43,989

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Property and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2020

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):


	December 31,
	2020		2019		Estimated Useful Lives (in years)
Land	$	6.0	$	4.9
Buildings and leasehold improvements	40.5		35.8		3	-	40
Machinery and equipment	1,875.5		1,659.4		2	-	20
Office furniture and equipment	221.6		197.3		3	-	7
Construction in progress	26.1		26.1
Total property and equipment	$	2,169.7	$	1,923.5
Less accumulated depreciation and amortization	(1,187.4)		(1,017.7)
Property and equipment, net	$	982.3	$	905.8

Commitments and Contingencies (Concentrations of Risk) (Narrative) (Details) - numberOfCustomers			12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Concentration Risk [Line Items]
Number of customers			475
Accounts Receivable, Net, Less Contract Liabilities [Member] \| Credit Concentration Risk [Member] \| Customers with Largest Net Accounts Receivable Positions [Member]
Concentration Risk [Line Items]
Number of customers	2	3
Accounts Receivable, Net, Less Contract Liabilities [Member] \| Credit Concentration Risk [Member] \| Customer with Largest Net Accounts Receivable Position [Member]
Concentration Risk [Line Items]
Concentration risk, percentage of total	15.00%	17.00%
Accounts Receivable, Net, Less Contract Liabilities [Member] \| Credit Concentration Risk [Member] \| Customer with Second Largest Net Accounts Receivable Position [Member]
Concentration Risk [Line Items]
Concentration risk, percentage of total	12.00%	13.00%
Accounts Receivable, Net, Less Contract Liabilities [Member] \| Credit Concentration Risk [Member] \| Customer With Third Largest Net Accounts Receivable Position [Member]
Concentration Risk [Line Items]
Concentration risk, percentage of total		11.00%
Revenue Benchmark [Member] \| Customer Concentration Risk [Member] \| Ten Largest Customers [Member]
Concentration Risk [Line Items]
Number of customers			10	10	10
Concentration risk, percentage of total			58.00%	64.00%	72.00%

Fair Value of Financial Instruments (Equity Investments) (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Equity investments, carrying value	$ 220,000,000	$ 196,000,000
Equity investments, adjusted cost basis, amount	17,000,000	18,000,000
Equity investments, impairments	$ 0	0	$ 0
Waha JVs [Member]
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Equity method investment, ownership percentage	33.00%
Equity investments, carrying value	$ 175,000,000	$ 174,000,000
CCI [Member]
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Equity investments, adjusted cost basis, amount	$ 15,000,000
CCI [Member] \| Immediate Family Member of Management [Member]
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Equity investment, ownership percentage	15.00%
FM Tech [Member]
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Equity method investment, ownership percentage	50.00%
Equity investments, carrying value	$ 16,000,000

Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of Summarized Financial Information of Equity Method Investments

The following presents summarized information for the entities that comprise the Company’s significant equity method investments (in millions):


	December 31,
	2020		2019
Current assets	$	160.3	$	144.5
Long-term assets	1,395.4		1,359.9
Total assets	$	1,555.7	$	1,504.4

Current liabilities	$	56.0	$	34.9
Long-term liabilities	1,024.5		978.6
Total liabilities	$	1,080.5	$	1,013.5


	For the Years Ended December 31,
	2020		2019		2018
Revenue	$	169.2	$	152.4	$	145.8
Net income	$	94.7	$	82.8	$	72.4

Segments and Related Information (Schedule of Financial Information by Reportable Segment - EBITDA) (Details) - USD ($)	3 Months Ended		12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
EBITDA:
EBITDA			$ 782,500,000	$ 823,400,000	$ 660,800,000
Intangible asset, pre-tax impairment charge				3,300,000	0
Goodwill, pre-tax impairment charge					47,700,000
Loss on extinguishment of debt	$ (5,600,000)		(5,569,000)	0	0
4.875% Senior Notes [Member] \| Senior Notes [Member]
EBITDA:
Loss on extinguishment of debt			5,600,000
Joint Venture [Member]
EBITDA:
Project gains (in dollars)					(1,000,000.0)
Reportable Segments [Member] \| Communications [Member]
EBITDA:
EBITDA			270,100,000	208,800,000	290,400,000
Reportable Segments [Member] \| Clean Energy and Infrastructure
EBITDA:
EBITDA			80,400,000	40,100,000	40,400,000
Reportable Segments [Member] \| Oil and Gas [Member]
EBITDA:
EBITDA			510,900,000	634,200,000	451,600,000
Reportable Segments [Member] \| Electrical Transmission [Member]
EBITDA:
EBITDA			14,900,000	29,500,000	10,500,000
Reportable Segments [Member] \| Other [Member]
EBITDA:
EBITDA			30,700,000	26,500,000	24,400,000
Corporate [Member]
EBITDA:
EBITDA			$ (124,500,000)	(115,700,000)	$ (156,400,000)
Pre-Qualifications [Member]
EBITDA:
Intangible asset, pre-tax impairment charge		$ 3,300,000		$ 3,300,000

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net income	$ 322,699	$ 394,096	$ 259,231
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	258,841	212,485	192,332
Amortization of intangible assets	38,910	22,997	20,598
Goodwill and intangible asset impairment	0	3,319	47,662
Non-cash interest expense, net	2,988	3,219	2,584
Non-cash stock-based compensation expense	21,875	16,447	13,527
Provision for deferred income taxes	7,180	22,160	56,209
Equity in earnings of unconsolidated affiliates	(29,738)	(27,367)	(23,855)
Gains on sales of assets, net	(16,210)	(13,908)	(16,052)
Other non-cash items, net	21,775	(2,768)	8,910
Changes in assets and liabilities, net of acquisitions:
Accounts receivable	87,372	(124,739)	(8,363)
Contract assets	63,306	237,800	(326,838)
Inventories	17,904	24,051	(29,366)
Other assets, current and long-term portion	20,486	10,180	28,709
Accounts payable and accrued expenses	94,069	(228,142)	251,735
Contract liabilities	21,326	(52,215)	28,411
Other liabilities, current and long-term portion	4,471	52,663	24,522
Net cash provided by operating activities	937,254	550,278	529,956
Cash flows from investing activities:
Cash paid for acquisitions, net of cash acquired	(24,971)	(179,481)	(6,684)
Capital expenditures	(213,746)	(126,473)	(180,420)
Proceeds from sale of property and equipment	37,077	35,015	39,359
Payments for other investments	(17,456)	(5,589)	(39,469)
Proceeds from other investments	648	14,705	5,415
Other investing activities, net	1,843	0	0
Net cash used in investing activities	(216,605)	(261,823)	(181,799)
Cash flows from financing activities:
Proceeds from credit facilities	1,434,610	3,025,927	3,418,232
Repayments of credit facilities	1,741,067	3,126,595	3,359,521
Proceeds from issuance of 4.50% senior notes	600,000	0	0
Repayments of 4.875% senior notes	(400,000)	0	0
Repayments of other borrowings, net	(62)	(12,438)	(17,427)
Payments of finance lease obligations	(126,988)	(88,341)	(72,167)
Payments of acquisition-related contingent consideration	10,097	34,267	15,929
(Distributions to) proceeds from non-controlling interests	(719)	583	(559)
Proceeds from stock-based awards	7,090	4,655	4,047
Payments for stock-based awards	(636)	(45)	(3,821)
Repurchases of common stock	(120,228)	(5,652)	(313,949)
Other financing activities, net	(11,790)	(8,458)	0
Net cash used in financing activities	(369,887)	(244,631)	(361,094)
Effect of currency translation on cash	929	181	33
Net increase (decrease) in cash and cash equivalents	351,691	44,005	(12,904)
Cash and cash equivalents - beginning of period	71,427	27,422	40,326
Cash and cash equivalents - end of period	423,118	71,427	27,422
Supplemental cash flow information:
Interest paid	65,016	84,971	81,230
Income tax payments (refunds), net	64,651	106,248	(21,450)
Supplemental disclosure of non-cash information:
Additions to property and equipment from finance leases	$ 114,221	$ 206,156	$ 75,545
4.50% Senior Notes [Member] \| Senior Notes [Member]
Debt instrument, interest rate (percentage)	4.50%
4.875% Senior Notes [Member] \| Senior Notes [Member]
Debt instrument, interest rate (percentage)	4.875%

Business, Basis of Presentation and Significant Accounting Policies (Remaining Performance Obligations) (Narrative) (Details) $ in Billions	Dec. 31, 2020 USD ($)
Revenue from Contract with Customer [Abstract]
Revenue recognition, remaining performance obligations, contract price allocated (in dollars)	$ 5.0
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue from Contract with Customer [Abstract]
Revenue recognition, remaining performance obligations, contract price allocated (in dollars)	$ 4.6
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue recognition, remaining performance obligations, completion period (in years)	1 year

Related Party Transactions (Management/Subcontracting agreement) (Narrative) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020 USD ($)
Management [Member] \| 2019 Acquisitions [Member]
Related Party Transaction [Line Items]
Payments for advance to affiliate	$ 1.2
Subcontracting Arrangements [Member] \| Management [Member] \| 2019 Acquisitions [Member]
Related Party Transaction [Line Items]
Receivables, related party	0.4
Charges, related party	$ 0.9
Community Condotte DeMoya JV, LLC [Member]
Related Party Transaction [Line Items]
Equity method investment, ownership percentage	25.00%
Negative equity method investment	$ 2.0
Community Condotte DeMoya JV, LLC [Member] \| Subcontracting Arrangements [Member]
Related Party Transaction [Line Items]
Payments, net of rebates, related party	0.4
Community Condotte DeMoya JV, LLC [Member] \| Subcontracting Arrangements [Member] \| Management [Member]
Related Party Transaction [Line Items]
Receivables, related party	$ 1.9

Stock-Based Compensation and Other Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Schedule of Activity, Restricted Shares


Activity, restricted shares: (a)	Restricted Shares	Per Share Weighted Average Grant Date Fair Value
Non-vested restricted shares, as of December 31, 2018	1,270,233	$	31.80
Granted	458,670	53.67
Vested	(494,910)	18.54
Canceled/forfeited	(12,400)	33.87
Non-vested restricted shares, as of December 31, 2019	1,221,593	$	45.36
Granted	1,246,583	30.77
Vested	(372,445)	39.88
Canceled/forfeited	(250,390)	57.95
Non-vested restricted shares, as of December 31, 2020	1,845,341	$	34.90

(a) Includes 2,300 restricted stock units as of December 31, 2020. There were no restricted stock units as of December 31, 2019, and there were 18,700 restricted stock units as of December 31, 2018.

Schedule of Employee Stock Purchase Plans

The following table provides details pertaining to the Company’s ESPPs for the periods indicated:


	For the Years Ended December 31,
	2020		2019		2018
Cash proceeds (in millions)	$	7.1	$	4.7	$	4.2
Common shares issued	239,322		111,136		110,506
Weighted average price per share	$	29.61	$	42.46	$	37.98
Weighted average per share grant date fair value	$	9.08	$	10.71	$	9.36

Commitments and Contingencies (Investment Arrangements) (Narrative) (Details) - Proportionately Consolidated Non-Controlled Joint Venture [Member]	Dec. 31, 2020
Joint Ventures That Provide Electrical Transmission Infrastructure Services [Member] \| Minimum [Member]
Other Commitments [Line Items]
Proportionately consolidated non-controlled joint venture, ownership percentage	85.00%
Joint Ventures That Provide Electrical Transmission Infrastructure Services [Member] \| Maximum [Member]
Other Commitments [Line Items]
Proportionately consolidated non-controlled joint venture, ownership percentage	90.00%
Joint Venture Civil Construction Project [Member]
Other Commitments [Line Items]
Proportionately consolidated non-controlled joint venture, ownership percentage	50.00%

Other Retirement Plans (Narrative) (Details)	12 Months Ended
Other Retirement Plans (Narrative) (Details)	Dec. 31, 2020
Initial Critical Year
Multiemployer Plans [Line Items]
Employer contribution under collective-bargaining arrangement to all participating employer contributions, percentage	5.00%
Succeeding Plan Years
Multiemployer Plans [Line Items]
Employer contribution under collective-bargaining arrangement to all participating employer contributions, percentage	10.00%

Business, Basis of Presentation and Significant Accounting Policies (Stock-Based Compensation) (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation, shares withheld (in shares)	11,667		96,739
Stock-based compensation, payments for employee tax obligations to taxing authorities (in dollars)	$ 636	$ 45	$ 3,821
Restricted Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation, vesting period (in years)	3 years
Employee Stock Purchase Plans [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation, purchase price of common stock, percentage	85.00%

Stock-Based Compensation and Other Employee Benefit Plans (Schedule of Activity, Restricted Shares) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Restricted Shares [Member]
Restricted Shares
Non-vested restricted shares, beginning balance (in shares)	1,221,593	1,270,233
Granted (in shares)	1,246,583	458,670
Vested (in shares)	(372,445)	(494,910)
Canceled/forfeited (in shares)	(250,390)	(12,400)
Non-vested restricted shares, ending balance (in shares)	1,845,341	1,221,593
Per Share Weighted Average Grant Date Fair Value
Non-vested restricted shares, per share weighted average grant date fair value, beginning balance (in dollars per share)	$ 45.36	$ 31.80
Granted (in dollars per share)	30.77	53.67
Vested (in dollars per share)	39.88	18.54
Canceled/forfeited (in dollars per share)	57.95	33.87
Non-vested restricted shares, per share weighted average grant date fair value, ending balance (in dollars per share)	$ 34.90	$ 45.36
Restricted Stock Units [Member]
Restricted Shares
Non-vested restricted shares, beginning balance (in shares)	0	18,700
Non-vested restricted shares, ending balance (in shares)	2,300	0

Segments and Related Information (Schedule of Financial Information by Reportable Segment - Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue:
Revenue (in dollars)	$ 1,636,800	$ 1,698,300	$ 1,569,300	$ 1,416,600	$ 1,709,300	$ 2,016,600	$ 1,939,000	$ 1,518,300	$ 6,320,975	$ 7,183,188	$ 6,909,417
Communications [Member] \| Customer Concentration Risk [Member] \| Revenue Benchmark [Member] \| Utilities [Member]
Revenue:
Utilities customers, percentage of Communications segment revenue									15.60%	15.00%	14.90%
Reportable Segments [Member] \| Communications [Member]
Revenue:
Revenue (in dollars)									$ 2,512,200	$ 2,618,800	$ 2,556,800
Reportable Segments [Member] \| Clean Energy and Infrastructure
Revenue:
Revenue (in dollars)									1,526,900	1,034,300	665,000
Reportable Segments [Member] \| Oil and Gas [Member]
Revenue:
Revenue (in dollars)									1,789,800	3,117,200	3,288,700
Reportable Segments [Member] \| Electrical Transmission [Member]
Revenue:
Revenue (in dollars)									506,500	413,900	397,300
Reportable Segments [Member] \| Other [Member]
Revenue:
Revenue (in dollars)									600	200	3,500
Eliminations [Member]
Revenue:
Revenue (in dollars)									$ (15,000)	$ (1,200)	$ (1,900)

Accounts Receivable, Net of Allowance, and Contract Assets and Liabilities (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of Accounts Receivable, Net of Allowance, and Contract Assets and Liabilities [Line Items]
Retainage, expected collection period (in years)	1 year
Contract liabilities	$ 228,388	$ 206,180
Contract with customer liability deferred revenue current	203,000	184,100
Deferred revenue, revenue recognized	159,600	199,200
Non-recourse financing agreement, discount charge	(59,629)	(77,026)	$ (82,571)
Accounts receivable, credit loss expense (reversal)	12,100	1,700
Amounts charged against the allowance	1,700	7,900
Receivables, Non-Recourse Arrangement [Member]
Schedule of Accounts Receivable, Net of Allowance, and Contract Assets and Liabilities [Line Items]
Non-recourse financing agreement, discount charge	$ (5,000)	$ (10,100)	$ (11,100)
Minimum [Member]
Schedule of Accounts Receivable, Net of Allowance, and Contract Assets and Liabilities [Line Items]
Retainage, percentage of contract billings	5.00%
Maximum [Member]
Schedule of Accounts Receivable, Net of Allowance, and Contract Assets and Liabilities [Line Items]
Retainage, percentage of contract billings	10.00%

Segments and Related Information (Schedule of Financial Information by Reportable Segment - Depreciation and Amortization) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Depreciation and Amortization:
Depreciation	$ 297.8	$ 235.5	$ 212.9
Reportable Segments [Member] \| Communications [Member]
Depreciation and Amortization:
Depreciation	87.1	65.0	59.3
Reportable Segments [Member] \| Clean Energy and Infrastructure
Depreciation and Amortization:
Depreciation	18.2	14.1	13.7
Reportable Segments [Member] \| Oil and Gas [Member]
Depreciation and Amortization:
Depreciation	156.6	127.2	113.7
Reportable Segments [Member] \| Electrical Transmission [Member]
Depreciation and Amortization:
Depreciation	24.7	20.0	19.8
Reportable Segments [Member] \| Other [Member]
Depreciation and Amortization:
Depreciation	0.1	0.1	0.1
Corporate [Member]
Depreciation and Amortization:
Depreciation	$ 11.1	$ 9.1	$ 6.3

Segments and Related Information (Tables)

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Schedule of Financial Information by Reportable Segment


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

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


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

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


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


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


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

Reconciliation of Consolidated Income before Income Taxes to EBITDA


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

Schedule of Significant Customers, Revenue Concentration Information

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


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

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

Goodwill and Other Intangible Assets (2019 Acquisitions) (Narrative) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($) yr acquisition	Dec. 31, 2019 USD ($) acquisition	Dec. 31, 2018 USD ($)	Jun. 30, 2020
Business Combinations [Line Items]
Business combinations, number of acquisitions \| acquisition	5	6
Amounts due to former owners, subsequently paid	$ 11,790	$ 8,458	$ 0
Business combinations, contingent consideration liabilities, range of potential undiscounted earn-out liabilities, low	48,000
Business combinations, contingent consideration liabilities, range of potential undiscounted earn-out liabilities, high	$ 179,000
2019 Acquisitions [Member]
Business Combinations [Line Items]
Business combinations, acquired finite-lived intangible assets, weighted average lives (in years)	11 years
Business combinations, goodwill, expected tax deductible amount	$ 8,000
Business combinations, contingent consideration, earn-out liabilities	22,300
Business combinations, contingent consideration, mandatorily redeemable non-controlling interest	17,800
Business combinations, contingent consideration liabilities, range of potential undiscounted earn-out liabilities, low	4,000
Business combinations, contingent consideration liabilities, range of potential undiscounted earn-out liabilities, high	$ 51,000
2019 Acquisitions [Member] \| Customer Relationships [Member]
Business Combinations [Line Items]
Business combinations, acquired finite-lived intangible assets, weighted average lives (in years)	12 years
2019 Acquisitions [Member] \| Backlog [Member]
Business Combinations [Line Items]
Business combinations, acquired finite-lived intangible assets, weighted average lives (in years)	3 years
2019 Acquisitions [Member] \| Other Amortizing Intangible Assets [Member]
Business Combinations [Line Items]
Business combinations, acquired finite-lived intangible assets, weighted average lives (in years)	5 years
2019 Acquisitions [Member] \| Expected Term [Member]
Business Combinations [Line Items]
Business combinations, contingent consideration, earn-out period (in years) \| yr	5
Oil and Gas [Member]
Business Combinations [Line Items]
Business combinations, number of acquisitions \| acquisition		1
Communications [Member]
Business Combinations [Line Items]
Business combinations, number of acquisitions \| acquisition	1	4
Business combinations, percentage of interests acquired		96.00%
Clean Energy and Infrastructure
Business Combinations [Line Items]
Business combinations, number of acquisitions \| acquisition		1
Business combinations, percentage of interests acquired	91.00%			96.00%
Management [Member] \| 2019 Acquisitions [Member]
Business Combinations [Line Items]
Business combination, liabilities assumed, amounts due to former owners	$ 11,000
Amounts due to former owners, subsequently paid	$ 2,000

Fair Value of Financial Instruments (Schedule of Summarized Financial Information of Equity Method Investments) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of Equity Method Investments [Line Items]
Total current assets	$ 2,359,015				$ 2,173,559				$ 2,359,015	$ 2,173,559
Total assets	5,227,849				4,997,006				5,227,849	4,997,006	$ 4,440,000
Current liabilities	1,415,199				1,219,126				1,415,199	1,219,126
Total liabilities	3,222,324				3,205,315				3,222,324	3,205,315
Revenue	1,636,800	$ 1,698,300	$ 1,569,300	$ 1,416,600	1,709,300	$ 2,016,600	$ 1,939,000	$ 1,518,300	6,320,975	7,183,188	6,909,417
Net income	112,900	$ 116,900	$ 56,800	$ 36,100	100,700	$ 130,100	$ 120,200	$ 43,100	322,699	394,096	259,231
Equity Method Investment, Nonconsolidated Investee or Group of Investees [Member]
Schedule of Equity Method Investments [Line Items]
Total current assets	160,300				144,500				160,300	144,500
Long-term assets	1,395,400				1,359,900				1,395,400	1,359,900
Total assets	1,555,700				1,504,400				1,555,700	1,504,400
Current liabilities	56,000				34,900				56,000	34,900
Long-term liabilities	1,024,500				978,600				1,024,500	978,600
Total liabilities	$ 1,080,500				$ 1,013,500				1,080,500	1,013,500
Revenue									169,200	152,400	145,800
Net income									$ 94,700	$ 82,800	$ 72,400

Related Party Transactions (Contractual Joint Venture) (Narrative) (Details) - Joint Venture [Member] $ in Millions, $ in Millions	Dec. 31, 2020 USD ($)	Dec. 31, 2020 CAD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2019 CAD ($)
Canadian Joint Venture [Member]
Related Party Transaction [Line Items]
Proportionately consolidated non-controlled joint venture, ownership percentage	35.00%	35.00%
Performance Guarantees [Member]
Related Party Transaction [Line Items]
Guarantees issued, related party	$ 20.7	$ 26.4	$ 20.3	$ 26.4

Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

Note 4 – Fair Value of Financial Instruments

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, that are contingent upon the acquired business achieving certain levels of earnings in the future. As of December 31, 2020 and 2019, the estimated fair value of the Company’s Earn-out liabilities totaled $135.2 million and $173.2 million, respectively, of which $48.1 million and $54.1 million, respectively, was included within other current liabilities. The fair values of the Company’s Earn-out liabilities are estimated using income approaches such as discounted cash flows or option pricing models, both of which incorporate significant inputs not observable in the market (Level 3 inputs), including management’s estimates and entity-specific assumptions, and are evaluated on an ongoing basis. Key assumptions include the discount rate, which, as of December 31, 2020, ranged from 12.0% to 20.0%, with a weighted average rate of 13.1% based on the relative fair value of each instrument, and probability-weighted projections of earnings before interest, taxes, depreciation and amortization (“EBITDA”). Significant changes in any of these assumptions could result in significantly higher or lower potential Earn-out liabilities. The ultimate payment amounts for the Company’s Earn-out liabilities will be determined based on the actual results achieved by the acquired businesses. As of December 31, 2020, the range of potential undiscounted Earn-out liabilities was estimated to be between $48 million and $179 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. For the years ended December 31, 2020, 2019 and 2018, additions to acquisition-related contingent consideration and other liabilities from new business combinations totaled approximately $7.2 million, $45.2 million and $1.5 million, respectively. For the year ended December 31, 2020, measurement period adjustments totaled an increase of approximately $2.1 million and related to businesses in the Company’s

Communications segment. Measurement period adjustments in 2019 totaled a decrease of approximately $6.1 million and related primarily to businesses in the Company’s Oil and Gas and Communications segment, and in 2018, totaled a net increase of approximately $5.0 million and related primarily to a business in the Company’s Oil and Gas segment. For the year ended December 31, 2020 fair value adjustments totaled a net increase of approximately $3.1 million across multiple segments, including a $1.0 million increase related to mandatorily redeemable non-controlling interests. For the years ended December 31, 2019 and 2018, fair value adjustments totaled net increases of approximately $51.0 million and $17.5 million, respectively, and related primarily to Earn-outs for businesses in the Company’s Oil and Gas and Communications segments. Earn-out payments totaled $50.4 million, $35.0 million and $23.1 million for the years ended December 31, 2020, 2019 and 2018, respectively.

Equity Investments

The Company’s equity investments as of December 31, 2020 include: (i) the Company’s 33% equity interests in Trans-Pecos Pipeline, LLC (“TPP”) and Comanche Trail Pipeline, LLC (“CTP,” and together with TPP, the “Waha JVs”); (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 equity interests in American Virtual Cloud Technologies, Inc., or “AVCT”; (v) the Company’s interests in certain proportionately consolidated non-controlled contractual joint ventures; and (vi) certain other equity investments.

As of December 31, 2020 and 2019, the aggregate carrying value of the Company’s equity investments, including equity investments measured on an adjusted cost basis, totaled approximately $220 million and $196 million, respectively. As of December 31, 2020 and 2019, equity investments measured on an adjusted cost basis, including the Company’s $15 million investment in CCI, totaled approximately $17 million and $18 million, respectively. There were no material changes in the fair values of, or impairments related to, these investments during either of the years then ended.

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 $31.3 million, $27.3 million and $23.9 million for the years ended December 31, 2020, 2019 and 2018, respectively. Distributions of earnings from the Waha JVs, which are included within operating cash flows, totaled $12.0 million, $9.1 million and $10.9 million for the years ended December 31, 2020, 2019 and 2018, respectively. Cumulative undistributed earnings from the Waha JVs, which represents cumulative equity in earnings for the Waha JVs less distributions of earnings, totaled $67.3 million as of December 31, 2020. The Company made no equity contributions to these joint ventures for the year ended December 31, 2020, and for the years ended December 31, 2019 and 2018, the Company made equity contributions of approximately $1 million and $28 million, respectively. The Company’s net investment in the Waha JVs, which differs from its proportionate share of the net assets of the Waha JVs due primarily to equity method goodwill associated with capitalized investment costs, totaled approximately $175 million and $174 million as of December 31, 2020 and 2019, respectively.

The Waha JVs are party to separate non-recourse financing facilities, each of which are secured by pledges of the equity interests in the respective entities, as well as a first lien security interest over virtually all of their assets. The Waha JVs are also party to certain interest rate swaps (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 years ended December 31, 2020 and 2019, the Company’s proportionate share of unrecognized unrealized activity on these interest rate swaps totaled losses of approximately $24.4 million and $19.9 million, respectively, or $18.5 million and $15.0 million, net of tax, respectively, and for the year ended December 31, 2018, totaled gains of approximately $7.7 million, or $5.9 million, net of tax.

Other Investments. The Company has investments in AVCT. These investments include (i) shares of AVCT common stock, which are equity securities, (ii) warrants for the purchase of AVCT common stock, which are derivative financial instruments, and (iii) debentures that are convertible into shares of AVCT common stock, which are available-for-sale securities. As of December 31, 2020 and 2019, the Company’s ownership interest in AVCT’s common stock, represented by the AVCT shares, totaled approximately 9% and 21%, respectively, and its aggregate ownership interest, assuming the exercise and conversion of all legally exercisable warrants and convertible debt into AVCT common stock, totaled approximately 21% as of both periods. José R. Mas, MasTec’s Chief Executive Officer, was a director of AVCT through the end of March 2020. The Company paid an aggregate of approximately $5 million for its investments in AVCT, all of which are included within other long-term assets in the Company’s consolidated financial statements. The issued shares and those underlying the derivative instruments are salable at various times subject to various contractual and securities law restrictions. The Company does not have the ability to exert significant influence over the operating and financial policies of AVCT.

As of December 31, 2020, the aggregate fair value of the Company’s investments in AVCT approximated $17 million. For the year ended December 31, 2020, the Company recorded unrealized fair value measurement gains on the AVCT securities within other income totaling approximately $10.1 million, primarily related to the AVCT shares, for which the fair value was determined based on the market price of identical securities, adjusted for the restrictions on sale, which is a Level 3 input. Unrealized fair value measurement gains on the AVCT convertible debentures as determined based on Monte Carlo simulations, a Level 3 input, which are recognized within other comprehensive income, totaled approximately $1.8 million, or $1.4 million net of tax, for the year ended December 31, 2020. As of December 31, 2019, the AVCT shares were measured on an adjusted cost basis as their fair value was not readily determinable. The aggregate carrying value of the Company’s investment in AVCT as of December 31, 2019, including the AVCT shares and initial warrants, was approximately $2 million.

The Company has equity interests in certain telecommunications entities that provide services to MasTec and are accounted for as equity method investments, including the Company’s $16 million aggregate investment in FM Tech. For the year ended December 31, 2020 equity in losses, net, related to these entities totaled approximately $1.5 million, and for the year ended December 31, 2019, 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. For the years ended December 31, 2020 and 2019, expense recognized in connection with services provided by these entities to MasTec totaled $11.5 million and $7.0 million, respectively, and related amounts

payable totaled $0.2 million as of December 31, 2020, and were de minimis as of December 31, 2019.

Summarized Financial Information of Equity Method Investments

The following presents summarized information for the entities that comprise the Company’s significant equity method investments (in millions):


	December 31,
	2020		2019
Current assets	$	160.3	$	144.5
Long-term assets	1,395.4		1,359.9
Total assets	$	1,555.7	$	1,504.4

Current liabilities	$	56.0	$	34.9
Long-term liabilities	1,024.5		978.6
Total liabilities	$	1,080.5	$	1,013.5


	For the Years Ended December 31,
	2020		2019		2018
Revenue	$	169.2	$	152.4	$	145.8
Net income	$	94.7	$	82.8	$	72.4

Senior Notes

As of December 31, 2020, the gross carrying amount of the Company’s 4.50% senior notes due August 15, 2028 (the “4.50% Senior Notes”) totaled $600 million and their estimated fair value totaled $625.5 million. As of December 31, 2019, the gross carrying amount of the Company’s 4.875% senior notes due March 15, 2023 (the “4.875% Senior Notes”) totaled $400 million and their estimated fair value totaled $404.5 million. The estimated fair values of the Company’s senior notes were determined using an “exit price” approach based on Level 1 inputs. See Note 7 - Debt for additional information on the 2020 redemption of the Company’s 4.875% Senior Notes and related issuance of its 4.50% Senior Notes.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Quarterly Information (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Information (Unaudited)


	For the 2020 Quarters Ended								For the 2019 Quarters Ended
	March 31		June 30		September 30		December 31		March 31		June 30		September 30		December 31
Revenue	$	1,416.6	$	1,569.3	$	1,698.3	$	1,636.8	$	1,518.3	$	1,939.0	$	2,016.6	$	1,709.3
Costs of revenue, excluding depreciation and amortization	$	1,226.3	$	1,341.8	$	1,380.5	$	1,322.2	$	1,312.0	$	1,633.4	$	1,690.6	$	1,434.2
Net income	$	36.1	$	56.8	$	116.9	$	112.9	$	43.1	$	120.2	$	130.1	$	100.7
Net income attributable to MasTec, Inc.	$	36.2	$	57.0	$	116.5	$	113.1	$	43.1	$	119.7	$	128.6	$	100.9
Earnings per share:
Basic	$	0.48	$	0.79	$	1.61	$	1.56	$	0.57	$	1.59	$	1.71	$	1.34
Diluted	$	0.48	$	0.78	$	1.59	$	1.54	$	0.57	$	1.58	$	1.69	$	1.33

Debt (Issuance of 4.50% Senior Notes and Repurchase and Redemption of 4.875% Senior Notes) (Details) - USD ($) $ in Thousands		3 Months Ended	12 Months Ended			36 Months Ended	96 Months Ended
	Aug. 19, 2020	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Aug. 15, 2023	Aug. 15, 2028	Aug. 04, 2020
Debt Instrument [Line Items]
Repayments of 4.875% senior notes			$ 400,000	$ 0	$ 0
Loss on extinguishment of debt		$ (5,600)	$ (5,569)	$ 0	$ 0
Senior Notes [Member] \| 4.50% Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, face amount								$ 600,000
Debt instrument, maturity date			Aug. 15, 2028
Debt instrument, interest rate (percentage)			4.50%
Debt issuance costs, gross			$ 8,900
Senior Notes [Member] \| 4.50% Senior Notes [Member] \| Forecast [Member]
Debt Instrument [Line Items]
Debt instrument, redemption price (percentage)						100.00%
Debt instrument, redemption price, percentage of principal amount redeemed						40.00%
Debt instrument redemption price percentage with equity offerings						104.50%
Debt instrument, change of control, redemption price, percent							101.00%
Debt instrument, minimum percentage of principal required to redeem in the event of default							30.00%
Senior Notes [Member] \| 4.875% Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date			Mar. 15, 2023
Debt instrument, interest rate (percentage)			4.875%
Repayments of 4.875% senior notes	$ 400,000
Debt instrument, redemption price (percentage)	100.813%
Loss on extinguishment of debt			$ 5,600
Payment for debt extinguishment, call premiums			3,300
Write off of deferred debt issuance cost			$ 2,300

Accounts Receivable, Net of Allowance, and Contract Assets and Liabilities (Schedule of Accounts Receivable, Net of Allowance, and Contract Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Receivables [Abstract]
Contract billings	$ 805,000	$ 860,400
Less allowance	(20,500)	(10,100)
Accounts receivable, net of allowance	784,488	850,326
Accounts Receivable, Net of Allowance, and Contract Assets [Abstract]
Retainage	287,700	345,200
Unbilled receivables	682,000	679,400
Contract assets	$ 969,743	$ 1,024,568

Debt (Tables)

12 Months Ended

Dec. 31, 2020

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):


		December 31,
Description	Maturity Date	2020		2019
Senior secured credit facility:	September 19, 2024
Revolving loans		$	32.7	$	339.2
Term loan		397.5		400.0
4.50% Senior Notes	August 15, 2028	600.0		—
4.875% Senior Notes	March 15, 2023	—		400.0
Finance lease and other obligations		288.5		305.6
Total debt obligations		$	1,318.7	$	1,444.8
Less unamortized deferred financing costs		(16.0)		(12.4)
Total debt, net of deferred financing costs		$	1,302.7	$	1,432.4
Current portion of long-term debt		145.1		118.4
Long-term debt		$	1,157.6	$	1,314.0

Schedule of Contractual Maturities of Debt and Finance Lease Obligations

Contractual maturities of MasTec’s debt, which includes finance lease obligations, as of December 31, 2020 were as follows (in millions):


2021	$	145.1
2022	117.5
2023	66.5
2024	389.2
2025	0.4
Thereafter	600.0
Total	$	1,318.7

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

Related Party Transactions (Split Dollar Agreements) (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Chairman, Board of Directors [Member]
Related Party Transaction [Line Items]
Payments for life insurance policies	$ 1.1	$ 1.1	$ 1.1
Chief Executive Officer [Member]
Related Party Transaction [Line Items]
Payments for life insurance policies	0.7	0.7	$ 0.7
Executive Officers [Member]
Related Party Transaction [Line Items]
Life insurance assets, carrying amount	22.2	$ 20.3
Maximum [Member] \| Chairman, Board of Directors [Member]
Related Party Transaction [Line Items]
Life insurance, face amount	200.0
Maximum [Member] \| Chief Executive Officer [Member]
Related Party Transaction [Line Items]
Life insurance, face amount	$ 75.0

Property and Equipment, Net

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

Note 6 – 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):


	December 31,
	2020		2019		Estimated Useful Lives (in years)
Land	$	6.0	$	4.9
Buildings and leasehold improvements	40.5		35.8		3	-	40
Machinery and equipment	1,875.5		1,659.4		2	-	20
Office furniture and equipment	221.6		197.3		3	-	7
Construction in progress	26.1		26.1
Total property and equipment	$	2,169.7	$	1,923.5
Less accumulated depreciation and amortization	(1,187.4)		(1,017.7)
Property and equipment, net	$	982.3	$	905.8

The gross amount of capitalized internal-use software, which is included within office furniture and equipment, totaled $154.1 million and $138.2 million as of December 31, 2020 and 2019, respectively. Capitalized internal-use software, net of accumulated amortization, totaled $34.3 million and $31.5 million as of December 31, 2020 and 2019, respectively. Accrued capital expenditures, the effects of which are excluded from capital expenditures in the Company’s consolidated statements of cash flows given their non-cash nature, totaled $13.5 million and $5.2 million as of December 31, 2020 and 2019, respectively.

Business, Basis of Presentation and Significant Accounting Policies (New Accounting Pronouncements) (Narrative) (Details)	Dec. 31, 2020
Accounting Standards Update 2018-15
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adoption Date	Jan. 01, 2020
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false]	true
Accounting Standards Update 2016-13
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adoption Date	Jan. 01, 2020
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false]	true
Accounting Standards Update 2018-13
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adoption Date	Jan. 01, 2020
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false]	true

- Definition

Indicates (true false) whether accounting standards update was adopted.

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+ Details

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
Income Taxes (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Taxes [Line Items]
Net operating loss carryforwards, deferred tax assets	$ 82.1	$ 70.5
Tax cuts and jobs act, income tax expense (benefit)		(16.4)
Unrecognized tax benefits, interest and penalties, income tax expense	1.4	0.5	$ 0.7
Unrecognized tax benefits, accrued interest and penalties	2.6	1.3
Unrecognized tax benefits	18.4
State [Member]
Income Taxes [Line Items]
Net operating loss carryforwards, deferred tax assets	15.7	11.5
Foreign [Member]
Income Taxes [Line Items]
Net operating loss carryforwards, deferred tax assets	66.0	57.4
Federal [Member]
Income Taxes [Line Items]
Net operating loss carryforwards, deferred tax assets	$ 0.1	$ 0.1

Lease Obligations (Operating Leases) (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2019
Operating Leased Assets [Line Items]
Operating leases, additions	$ 28,000	$ 103,300
Operating lease assets	176,573	229,903
Operating leases, expense	113,000	114,500
Operating leases, variable lease costs	10,000	10,400
Operating leases, short-term leases, expense	$ 312,000	$ 448,200
Minimum [Member]
Operating Leased Assets [Line Items]
Operating leases, term of contract (in years)	1 year
Maximum [Member]
Operating Leased Assets [Line Items]
Operating leases, term of contract (in years)	1 year
Lease Terms in Excess of One Year [Member]
Operating Leased Assets [Line Items]
Operating leases, rent and related expense			$ 115,000
Lease Term Less Than One Year [Member]
Operating Leased Assets [Line Items]
Operating leases, rent and related expense			$ 472,100
ASU 2016-02 [Member]
Operating Leased Assets [Line Items]
Operating lease assets				$ 230,000

Income Taxes (Schedule of Components of Income before Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Domestic	$ 435,900	$ 452,200	$ 341,100
Foreign	(10,700)	58,700	24,200
Income before income taxes	$ 425,164	$ 510,939	$ 365,303

- Definition

+ References

+ Details

Debt (Schedule of Contractual Maturities of Debt and Finance Lease Obligations) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Contractual Maturities of Debt and Finance Lease Obligations
Contractual maturities of debt and finance lease obligations, 2021	$ 145.1
Contractual maturities of debt and finance lease obligations, 2022	117.5
Contractual maturities of debt and finance lease obligations, 2023	66.5
Contractual maturities of debt and finance lease obligations, 2024	389.2
Contractual maturities of debt and finance lease obligations, 2025	0.4
Contractual maturities of debt and finance lease obligations, thereafter	600.0
Total debt obligations	$ 1,318.7	$ 1,444.8