0000015615-24-000021 | 10-K | XBRL Viewer

Print Document View Excel Document

Stock-Based Compensation and Other Employee Benefit Plans - Restricted Shares (Details) - Restricted Shares - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Stock-Based Compensation and Other Employee Benefit Plans [Line Items]
Stock-based compensation awards, unearned compensation	$ 62.0
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	$ 98.4	$ 19.7	$ 37.4

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(01)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(02)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(01)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(02)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Segments and Related Information - Foreign Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment and Related Information [Line Items]
Revenue	$ 11,995,934	$ 9,778,038	$ 7,951,781
Property and equipment, net	1,651,462	1,754,101
United States
Segment and Related Information [Line Items]
Revenue	11,900,000	9,600,000	7,800,000
Property and equipment, net	1,600,000	1,700,000	1,400,000
Intangible assets and goodwill, net	2,900,000	3,000,000	2,100,000
Foreign Operations
Segment and Related Information [Line Items]
Revenue	95,100	149,900	165,200
Property and equipment, net	17,500	21,000	24,500
Intangible assets and goodwill, net	$ 32,600	$ 35,500	$ 43,800
Accounts Receivable, Net, Less Contract Liabilities \| Geographic Concentration Risk \| Foreign Operations
Segment and Related Information [Line Items]
Concentration risk, percentage of total	1.00%	1.00%	2.00%
Revenue Benchmark \| Customer Concentration Risk \| Government Transactions
Segment and Related Information [Line Items]
Concentration risk, percentage of total	11.00%	7.00%	5.00%

Fair Value of Financial Instruments - Equity Investments (Details) - USD ($)	3 Months Ended		6 Months Ended	12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Equity investments, carrying value	$ 319,000,000			$ 306,000,000
Equity investments, adjusted cost basis, amount	18,000,000			20,000,000
Equity investments, impairments	$ 0	$ 3,000,000	$ 0	0	$ 0
Waha JVs
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Equity method investment, ownership percentage	33.00%
Equity investments, carrying value	$ 274,000,000			263,000,000
CCI
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Equity investment, ownership percentage	15.00%
Equity investments, adjusted cost basis, amount	$ 15,000,000			15,000,000
FM Tech
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Equity method investment, ownership percentage	50.00%
Equity investments, carrying value	$ 18,000,000			$ 18,000,000

Acquisitions, Goodwill and Other Intangible Assets, Net

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Acquisitions, Goodwill and Other Intangible Assets

Acquisitions, Goodwill and Other Intangible Assets, Net

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


	Communications		Clean Energy and Infrastructure		Power Delivery		Oil and Gas		Total Goodwill
Goodwill, gross, as of December 31, 2021	$	614.5	$	166.1	$	303.4	$	561.3	$	1,645.3
Accumulated impairment loss (a)	—		—		—		(124.7)		(124.7)
Goodwill, net, as of December 31, 2021	$	614.5	$	166.1	$	303.4	$	436.6	$	1,520.6
Additions from new business combinations	3.0		535.2		1.9		4.6		544.7
Measurement period adjustments (b)	(11.4)		2.0		(35.2)		25.3		(19.3)
Currency translation adjustments	—		—		—		(1.0)		(1.0)
Goodwill, net, as of December 31, 2022	$	606.1	$	703.3	$	270.1	$	465.5	$	2,045.0
Additions from new business combinations	41.4		—		—		—		41.4
Measurement period adjustments (c)	(0.6)		38.7		0.7		0.8		39.6
Currency translation adjustments	—		—		—		0.4		0.4
Goodwill, net, as of December 31, 2023	$	646.9	$	742.0	$	270.8	$	466.7	$	2,126.4
Accumulated impairment loss (a)	—		—		—		(119.3)		(119.3)
Goodwill, gross, as of December 31, 2023	$	646.9	$	742.0	$	270.8	$	586.0	$	2,245.7

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

(b) Measurement period adjustments represent adjustments, net, to preliminary estimates of fair value within the measurement period of up to one year from the date of acquisition. Measurement period adjustments, net, for the year ended December 31, 2022 relate primarily to an increase in amortizing intangible assets, partially offset by an increase in consideration transferred resulting from federal income tax elections.

(c) Measurement period adjustments, net, for the year ended December 31, 2023 were primarily the result of (i) updated valuations of, and estimated useful lives for, certain fixed assets, and (ii) updated estimates related to certain assets and liabilities, including contract assets and contingent liabilities. For the year ended December 31, 2023, these updates resulted in (i) related to fixed assets, a decrease in depreciation expense of approximately $6 million, and (ii) related to contracts assets and liabilities, an increase in revenue of approximately $35 million and a decrease in costs of revenue, excluding depreciation and amortization, of approximately $8 million. Measurement period adjustments for the year ended December 31, 2023 also included a decrease in deferred tax liabilities of approximately $36 million, an increase in contingent liabilities of approximately $28 million, including for insurance, legal and other matters, and fair value increases of approximately $10 million for certain property and equipment.

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


	Other Intangible Assets, Net
	Customer Relationships and Backlog		Trade Names (a)		Other (b)		Total
Other intangible assets, gross, as of December 31, 2021	$	763.1	$	140.1	$	92.9	$	996.1
Accumulated amortization	(278.0)		(15.6)		(32.2)		(325.8)
Other intangible assets, net, as of December 31, 2021	$	485.1	$	124.5	$	60.7	$	670.3
Additions from new business combinations	272.0		95.8		0.3		368.1
Measurement period adjustments (c)	56.0		(6.9)		(3.6)		45.5
Currency translation adjustments	—		—		(1.7)		(1.7)
Amortization expense	(112.5)		(13.4)		(10.0)		(135.9)
Other intangible assets, net, as of December 31, 2022	$	700.6	$	200.0	$	45.7	$	946.3
Additions from new business combinations	6.7		0.1		—		6.8

Currency translation adjustments	—		—		0.4		0.4
Amortization expense	(140.0)		(20.9)		(8.3)		(169.2)
Other intangible assets, net, as of December 31, 2023	$	567.3	$	179.2	$	37.8	$	784.3
Remaining weighted average amortization, in years	13		13		9		13

(a) Includes approximately $34.5 million of non-amortizing trade names as of each of December 31, 2023, 2022 and 2021.

(b) Consists principally of pre-qualifications and non-compete agreements.

(c) Represents adjustments, net, to preliminary estimates of fair value within the measurement period of up to one year from the date of acquisition. Measurement period adjustments, net, for the year ended December 31, 2022 relate primarily to an increase in amortizing intangible assets resulting from the finalization of the related intangible asset valuations.

Expected future amortization expense as of December 31, 2023 is summarized in the following table (in millions):


	Amortization Expense
2024	$	133.6
2025	109.8
2026	90.8
2027	81.8
2028	68.8
Thereafter	265.0
Total	$	749.8

Recent Acquisitions

The Company seeks to grow and diversify its business both organically and through acquisitions and/or strategic arrangements in order to deepen its market presence and customer base, broaden its geographic reach and expand its service offerings. In 2021, the Company initiated a significant transformation of its end-market business operations to focus on the nation’s transition to low-carbon energy sources and position the Company for expected future opportunities. This transformation included significant business combination activity, including expansion of the Company’s scale and capacity in renewable energy, power delivery, heavy civil and telecommunications services, which activity resulted in significant acquisition and integration costs, both in the Company’s existing and recently acquired operations. As of December 31, 2023, acquisition and integration efforts related to this acquisition activity were substantially complete. Acquisitions are funded with cash on hand, borrowings under the Company’s senior unsecured credit facility and other debt financing and, for certain recent acquisitions, with shares of the Company’s common stock, and are generally subject to customary purchase price adjustments.

2023 Acquisitions. During 2023, MasTec completed four acquisitions, including certain of the assets of a telecommunications company specializing in wireless services that is included within the Company’s Communications segment, which acquisition was effective in January; and, effective in July, MasTec acquired all of the equity interests of a telecommunications construction company specializing in broadband and fiber-to-the-home initiatives in the New England area, which acquisition is included within the Company’s Communications segment. Determination of the estimated fair values of the net assets acquired and consideration transferred for these acquisitions, which have been accounted for as business combinations under ASC 805, “Business Combinations” (“ASC 805”), was preliminary as of December 31, 2023; as a result, further adjustments to these estimates may occur. Additionally, MasTec acquired 68% and 42%, of the equity interests of two equipment companies, respectively, both of which are accounted for as asset acquisitions under ASC 805, and were effective in May and included within the Company’s Oil and Gas segment. In the fourth quarter of 2023, the Company sold certain of the equity interests of these equipment companies to members of subsidiary management, following which the Company’s remaining equity interests in these entities totaled 40% and 20%, respectively, as of December 31, 2023. See Note 15 - Related Party Transactions. Based on an evaluation of the respective entities’ operating agreements, the Company determined that these entities are not VIEs; however, given that the Company has voting control with respect to the entities, the Company has consolidated these entities within the Company’s results of operations, with the other parties’ interests accounted for as non-controlling interests.

The aggregate purchase price of the Company’s 2023 acquisitions was composed of approximately $69 million in cash, net of cash acquired, and an earn-out liability valued at approximately $1 million. As of December 31, 2023, the remaining potential undiscounted earn-out liabilities for the 2023 acquisitions was estimated to be up to $2 million; however, there is no maximum payment amount. See Note 4 - Fair Value of Financial Instruments for fair value estimate and other details related to the Company’s earn-out arrangements. Goodwill, as reflected in the table above, for the respective 2023 acquisitions represents the estimated value of the acquired company’s geographic presence in key markets, its assembled workforce, synergies expected to be achieved from the combined operations of the acquired company and MasTec, as well as the acquired company’s industry-specific project management expertise. Approximately $43 million of the goodwill balance related to the 2023 acquisitions is expected to be tax deductible as of December 31, 2023.

2022 Acquisitions. During 2022, MasTec completed five acquisitions, which included all of the equity interests of the following: (i) within the Company’s Clean Energy and Infrastructure segment: IEA, a leading utility-scale infrastructure solutions provider in North America, with expertise in renewable energy and heavy civil projects, as well as rail and environmental remediation services, which acquisition was effective in October; and a company specializing in the production of concrete and aggregate products, which acquisition was effective in August; (ii) within the Company’s Oil and Gas segment: an infrastructure construction company focusing on water, sewer and utility projects and with expertise in excavation and site work, which acquisition was effective in January; (iii) within the Company’s Communications segment: a telecommunications company specializing in wireline services, which acquisition was effective as of the end of May; and (iv) within the Company’s Power Delivery segment: a company specializing in the construction of overhead high voltage transmission lines, which acquisition was effective in July.

The following table summarizes, as of December 31, 2023, the estimated fair values of the consideration paid and net assets acquired, as adjusted, for the Company’s 2022 acquisitions (in millions):


Acquisition consideration:	IEA		All other		Total
Cash, net of cash acquired	$	564.5	$	48.7	$	613.2
Shares transferred	173.7		—		173.7
Estimated fair value of warrants	10.3		—		10.3
Estimated fair value of contingent consideration	—		2.8		2.8
Total consideration	$	748.5	$	51.5	$	800.0
Identifiable assets acquired and liabilities assumed:
Accounts receivable and contract assets	$	570.0	$	6.1	$	576.1
Current assets	34.5		1.6		36.1
Property and equipment	222.5		30.1		252.6
Long-term assets, primarily operating lease right-of-use assets	40.6		0.3		40.9
Amortizing intangible assets	362.2		5.9		368.1
Accounts payable	(136.5)		(4.6)		(141.1)
Contract liabilities	(151.3)		(1.5)		(152.8)
Current liabilities, primarily accrued expenses	(326.2)		(1.4)		(327.6)
Long-term debt, including finance lease obligations	(330.8)		(0.2)		(331.0)
Long-term liabilities, primarily operating lease liabilities and deferred income taxes	(105.3)		(0.2)		(105.5)
Total identifiable net assets	$	179.7	$	36.1	$	215.8
Goodwill	568.8		15.4		584.2
Total net assets acquired, including goodwill	$	748.5	$	51.5	$	800.0

Amortizing intangible assets related to the IEA acquisition are primarily composed of customer relationships, and to a lesser extent, trade names and backlog. Customer relationship and trade name intangible assets for IEA, in the aggregate, totaled approximately $321 million, which each had a weighted average life of approximately 14 years, based on IEA’s operational history and established relationships with, and the nature of, its customers, which are primarily in the renewable energy and specialty civil industries. Backlog intangible assets for IEA totaled approximately $42 million, with a weighted average life of approximately 1 year based on the estimated cash flows expected to be derived from future work on the acquired customer contracts. The weighted average life of amortizing intangible assets in the aggregate for the IEA acquisition was 13 years. Amortizing intangible assets related to “All other” acquisitions are primarily composed of customer relationships with an aggregate weighted average life of 9 years. Amortizing intangible assets are amortized in a manner consistent with the pattern in which the related benefits are expected to be consumed.

The goodwill balances for each of the respective acquisitions represent the estimated values of each acquired company’s geographic presence in key markets, assembled workforce and synergies expected to be achieved from the combined operations of each of the acquired companies and MasTec, as well as the acquired company’s industry-specific project management expertise. Approximately $46 million of the goodwill balance related to the 2022 acquisitions is expected to be tax deductible as of December 31, 2023.

Consideration transferred for IEA in the table above includes approximately 2.7 million shares of MasTec common stock, valued at approximately $174 million based on the market price of MasTec common stock on the date of closing. Total cash paid for acquisitions, net, includes approximately $44 million of cash acquired. Long-term debt in the table above includes $300 million aggregate principal balance of 6.625% senior unsecured notes that were assumed in connection with the acquisition. See Note 7 - Debt for additional information. Consideration transferred also includes the value of certain warrants that were originally issued by IEA, which entitled holders to receive an amount in cash and shares of MasTec common stock upon their exercise. In 2022, the Company issued 107,187 shares of MasTec common stock with a fair value of approximately $8.1 million, based on the market price of MasTec common stock on the date of exercise, and approximately $1.7 million of cash payments in connection with exercises of the IEA warrants. In 2023, such issuances were de minimis. All remaining IEA warrants expired unexercised on March 26, 2023. The Company recorded fair value gains of approximately $2.6 million in connection with the IEA warrants for the year ended December 31, 2023, primarily related to the expired warrants, and for the year ended December 31, 2022, the Company recorded fair value losses of approximately $2.7 million related to the warrants resulting from changes in their fair value. Fair value gains and losses are reflected in other income or expense, as appropriate.

Contingent consideration included in the table above is composed of earn-out liabilities, which generally equal a portion of the acquired companies’ earnings before interest, taxes, depreciation and amortization (“EBITDA”) in excess of thresholds agreed upon with the sellers, if applicable. The earn-out arrangements for the 2022 acquisitions are payable annually and have five-year terms, as set forth in the respective purchase agreements, and were valued at approximately $3 million in the aggregate. Earn-outs are recorded within other current and other long-term liabilities, as appropriate, in the consolidated balance sheets. See Note 4 - Fair Value of Financial Instruments for details pertaining to fair value estimates for the Company’s earn-out arrangements. As of December 31, 2023, the remaining potential undiscounted earn-out liabilities for the 2022 acquisitions was estimated to be up to $1 million; however, there is no maximum payment amount. Current liabilities reflected in the table above also include operating lease liabilities and contingent liabilities for insurance, legal and other matters.

2021 Acquisitions. During 2021, MasTec completed fourteen acquisitions, which included the equity interests of the following:

(i) HMG, an industry-leading utility services firm providing critical infrastructure design, construction and maintenance services to the power and renewables, telecommunications, gas distribution and pipeline services end-markets, which acquisition was effective in December. HMG’s results are reported within the Company’s Power Delivery, Communications and Oil and Gas segments, as appropriate, and HMG’s corporate functions are reported within the Company’s corporate results. Additionally, the Company’s 2021 acquisitions included:

(ii) within its Power Delivery segment: an electric utility distribution contractor and a company specializing in vegetation management services for the electric and telecommunications industries, which acquisitions were effective in December; and INTREN, LLC (“INTREN”), a premier specialty utility contractor primarily providing electrical distribution network services under various multi-year master service agreements to some of the nation’s largest utilities, municipalities and cooperatives, which acquisition was effective in May;

(iii) within its Clean Energy and Infrastructure segment: a heavy civil infrastructure construction company focusing on transportation projects; and a heavy industrial general contractor with concrete, piping and electrical capabilities, which acquisitions were effective in February and April, respectively;

(iv) within its Communications segment: a telecommunications company specializing in cabling, plant and other network services, which acquisition was effective in November; a telecommunications and utility technical services company focusing on outside plant telecommunications engineering; a telecommunications and cable services provider; and a utilities infrastructure company, providing power line construction and repair services, all of which acquisitions were effective in May; and, effective in August, the business operations of an entity specializing in install-to-the-home services; and

(v) within its Oil and Gas segment: an infrastructure construction company focusing on water, sewer and utility projects, along with expertise in site work; and a company specializing in environmental services for energy infrastructure and heavy civil projects, both of which acquisitions were effective in December; and a pipeline contractor focusing on integrity and maintenance work related to gas distribution infrastructure, which acquisition was effective in February.

The following table summarizes, as of December 31, 2022, the estimated fair values of consideration paid and net assets acquired, as adjusted, for the Company’s 2021 acquisitions (in millions):


Acquisition consideration(a):	HMG		All other		Total
Cash, net of cash acquired	$	402.4	$	876.7	$	1,279.1
Shares transferred	181.7		—		181.7
Estimated fair value of contingent consideration	—		104.9		104.9
Total consideration	$	584.1	$	981.6	$	1,565.7
Identifiable assets acquired and liabilities assumed:
Accounts receivable and contract assets	$	409.0	$	266.2	$	675.2
Current assets	19.5		26.7		46.2
Property and equipment	248.6		250.6		499.2
Long-term assets, primarily operating lease right-of-use assets	84.9		81.9		166.8
Amortizing intangible assets	164.4		444.2		608.6
Accounts payable	(108.0)		(49.3)		(157.3)
Current liabilities, including current portion of operating lease liabilities	(157.2)		(140.7)		(297.9)
Long-term debt, including finance lease obligations	(0.2)		(4.4)		(4.6)
Long-term liabilities, primarily operating lease liabilities and deferred income taxes	(148.3)		(76.6)		(224.9)
Total identifiable net assets	$	512.7	$	798.6	$	1,311.3
Goodwill	71.4		186.6		258.0
Total net assets acquired, including goodwill	$	584.1	$	985.2	$	1,569.3
Bargain purchase gain	—		(3.6)		(3.6)
Total consideration	$	584.1	$	981.6	$	1,565.7

(a) Acquisition consideration in the table above excludes approximately $65 million of measurement period adjustments for estimated payments that will be made to the sellers of HMG if certain acquired receivables are collected. Given the pass-through nature of these contingent payments, they have been excluded from total consideration and current assets in the table above. See below for related discussion.

Amortizing intangible assets related to the HMG acquisition are primarily composed of customer relationships, and to a lesser extent, trade names and backlog. Customer relationship intangible assets totaled approximately $132 million, and had a weighted average life of approximately 12 years, as adjusted, based on HMG’s operational history and established relationships with, and the nature of, its customers, which are primarily in the utilities industry. The weighted average life of amortizing intangible assets in the aggregate, as adjusted, for the HMG acquisition was 11 years. Amortizing intangible assets related to “All other” acquisitions are primarily composed of customer relationships and trade names, which each had a weighted average life of approximately 17 years. The aggregate weighted average life, as adjusted, related to “All other” amortizing intangible assets was 17 years. INTREN’s acquired intangible assets, which are included within “All other” acquisitions in the table above, included a customer relationship and a trade name intangible asset representing $281 million in the aggregate, having weighted average asset lives of approximately 20 years each based on INTREN’s operational history and established relationships with, and the nature of, its customers, which are primarily in the utilities industry. Amortizing intangible assets are amortized in a manner consistent with the pattern in which the related benefits are expected to be consumed.

The goodwill balances for each of the respective acquisitions, including approximately $49 million for INTREN, represent the estimated values of each acquired company’s geographic presence in key markets, assembled workforce, management team’s industry-specific project management expertise and synergies expected to be achieved from the combined operations of each of the acquired companies and MasTec. Approximately $178 million of the goodwill balance related to the 2021 acquisitions is expected to be tax deductible as of December 31, 2023. One of the Company’s fourth quarter 2021 acquisitions within its Power Delivery segment resulted in the recognition of a bargain purchase gain of $3.6 million, of which $0.2 million was recognized during the year ended December 31, 2022.

The HMG purchase agreement provides for certain additional payments to be made to the sellers if certain acquired receivables are collected by the Company (the “Additional Payments”). Pursuant to the terms of the purchase agreement, a portion of the Additional Payments will be made in cash, with the remainder due in shares of MasTec common stock. The estimated number of potential shares that could be issued related to such Additional Payments will be based on the amounts ultimately collected and the share price as defined within the purchase agreement. Changes in the estimated fair value of potential shares that could be issued, which result from changes in MasTec’s share price as compared with the share price as defined within the purchase agreement, are reflected as unrealized gains or losses within other income or expense, as appropriate. In May 2022, an Additional Payment of approximately $29.4 million was made, which payment was composed of approximately $18 million in cash and is reflected within financing activities in the consolidated statement of cash flows, and 133,157 shares of MasTec common stock, and for which a realized gain of approximately $1 million was recognized within other income, net, in the related period. In addition, the HMG purchase agreement provided for a customary net working capital adjustment, which was resolved in the second quarter of 2022, resulting in a reduction in purchase consideration for the HMG acquisition of approximately $15 million, which reduction is reflected in the table above. This working capital adjustment had no impact on the number of shares issued in connection with the acquisition.

As of December 31, 2023 and 2022, the estimated fair value of remaining Additional Payments totaled approximately $34 million and $37 million, respectively, which amounts are included within other current liabilities in the consolidated balance sheet. For the year ended December 31, 2023, the estimated fair value of remaining Additional Payments included the effect of unrealized fair value gains related to the contingent shares of approximately $1.3 million and a reduction of approximately $2.4 million from changes in collections attributed to acquired balances. For the year ended December 31, 2022, unrealized fair value measurement activity related to the contingent shares totaled gains of approximately $1.2 million. The estimated number of shares that would be paid in connection with the remaining Additional Payment liability totaled approximately 160,000 and 170,000 shares as of December 31, 2023 and 2022, respectively. Of the total remaining Additional Payments as of December 31, 2023, the amount due to the sellers, based on amounts collected as of December 31, 2023, totaled approximately $19.4 million, of which the amount due in shares totaled approximately $6.7 million, or 87,900 shares. See Note 2 - Earnings Per Share for the effect of the above referenced shares on the Company’s earnings per share calculations.

Included within “All other” acquisition consideration is approximately $455 million of consideration, including estimated earn-out liabilities, for INTREN. Total cash paid for acquisitions, net, includes approximately $78 million of cash acquired. The shares of MasTec common stock transferred in connection with the HMG acquisition in the table above consisted of approximately 2.0 million shares, as determined in accordance with the terms of the purchase agreement, which were valued at approximately $182 million based on the market price of the Company’s common stock on the date of closing.

The contingent consideration included in the table above is composed of earn-out liabilities, which generally equal a portion of the acquired companies’ EBITDA in excess of thresholds agreed upon with the sellers, if applicable. The length of the earn-out arrangements for the 2021 acquisitions generally range from one to five-year terms, as set forth in the respective purchase agreements, and are valued at approximately $105 million in the aggregate. The earn-out arrangement for the INTREN acquisition included within “All other” acquisitions had a term of less than one year. Earn-outs are generally payable annually and are recorded within other current and other long-term liabilities, as appropriate, in the consolidated balance sheets. See Note 4 - Fair Value of Financial Instruments for details pertaining to fair value estimates for the Company’s earn-out arrangements. As of December 31, 2023, the range of remaining potential undiscounted earn-out liabilities for the 2021 acquisitions was estimated to be between $21 million and $79 million; however, there is no maximum payment amount.

Pro forma results. For the years ended December 31, 2023, 2022 and 2021, unaudited supplemental pro forma revenue totaled approximately $12.0 billion, $11.6 billion and $12.3 billion, respectively. For the year ended December 31, 2023, unaudited supplemental pro forma net loss totaled approximately $61.3 million, and for the years ended December 31, 2022 and 2021, unaudited supplemental pro forma net income totaled approximately $7.4 million and $229.1 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. Supplemental pro forma information for the Company’s first quarter 2023 acquisition has not been presented for the pre-acquisition periods due to the impracticability of obtaining accurate or reliable historical financial information for the assets of the entity that was acquired.

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.

Acquisition-related results. The Company defines “acquisition” results as results from acquired businesses for the first twelve months following the dates of the respective acquisitions. For the years ended December 31, 2023, 2022 and 2021, the Company’s consolidated results of operations included acquisition-related revenue of approximately $1,546.3 million, $2,990.1 million and $1,021.8 million, respectively. Acquisition-related revenue for the year ended December 31, 2023 included approximately $1,374.6 million for IEA, and for the year ended December 31, 2022, such revenue included approximately $567.2 million for IEA and $1,902.4 million for HMG and INTREN in the aggregate. For the year ended December 31, 2021, acquisition-related revenue included approximately $436.0 million for INTREN. For the year ended December 31, 2023, the Company’s consolidated results of operations included acquisition-related net losses of approximately $40.0 million, based on the Company’s consolidated effective tax rates. For the years ended December 31, 2022 and 2021, acquisition-related net income totaled approximately $53.9 million and $6.6 million, respectively, based on the Company’s consolidated effective tax rates. These acquisition-related results include amortization of acquired intangible assets and certain acquisition integration costs, and exclude the effects of interest expense associated with consideration paid for the related acquisitions.

Revenue and net losses from the Company’s 2023 acquisitions included within the Company’s consolidated results of operations for the year ended December 31, 2023 totaled $145.9 million and $5.9 million, respectively.

Acquisition and integration costs. As discussed above, the Company initiated a significant transformation of its end-market business operations in 2021, which transformation involved significant business combination activity and resulted in significant acquisition and integration costs. Such costs are included within general and administrative expenses, costs of revenue, excluding depreciation and amortization, and other expense, as appropriate. These acquisition and integration costs include: i) the costs of integrating acquired entities, such as: employee termination expenses, including employee compensation relating to the elimination of certain positions that were determined to be redundant, and other integration-type costs, including operating cost redundancies, facility consolidation expenses, lease termination expenses, losses on disposal of identified assets, system migration expenses, training and other integration costs; and ii) legal, professional and other fees associated with the consummation of the above-referenced acquisitions, including fees paid in connection with certain transaction-related financing commitments, such as bridge financing related to the 2022 acquisition of IEA. For the year ended December 31, 2023, such acquisition and integration costs totaled approximately $71.9 million, of which $64.1 million was included within general and administrative expenses, and of which $7.8 million was included within costs of revenue, excluding depreciation and amortization. Acquisition and integration costs for the year ended December 31, 2022 totaled approximately $86.0 million, of which $52.0 million was included within general and administrative expenses, and of which $29.3 million and $4.7 million were included within costs of revenue, excluding depreciation and amortization, and other expense, respectively. For the year ended December 31, 2021, such acquisition and integration costs totaled $3.6 million, which costs were included within general and administrative expenses. As of December 31, 2023 and 2022, approximately $0.3 million and $5.5 million, respectively, was included within current liabilities within the consolidated balance sheets related to such costs. As of December 31, 2023, acquisition and integration efforts related to the above-referenced acquisition activity were substantially complete.

Acquisitions, Goodwill and Other Intangible Assets, Net - Acquisitions (Details) $ in Thousands	1 Months Ended		3 Months Ended				12 Months Ended
	May 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($) yr shares	Dec. 31, 2023 USD ($) yr	Mar. 31, 2023 shares	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($) yr	Dec. 31, 2023 USD ($) yr acquisition shares	Dec. 31, 2022 USD ($) acquisition shares	Dec. 31, 2021 USD ($) yr acquisition
Business Combinations [Line Items]
Cash, net of cash acquired							$ 69,388	$ 635,763	$ 1,244,603
Increase (decrease) in contingent consdieration							0	1,682	0
Goodwill		$ 1,520,600	$ 2,126,366			$ 1,520,600	2,126,366	2,045,041	1,520,600
Power Delivery
Business Combinations [Line Items]
Goodwill		303,400	$ 270,800			303,400	$ 270,800	$ 270,100	303,400
6.625% Senior Notes \| Senior Notes
Business Combinations [Line Items]
Debt instrument, interest rate (percentage)			6.625%				6.625%
Equipment Company Acquisition One
Business Combinations [Line Items]
Voting interest							68.00%
Voting interest sold			40.00%
Equipment Company Acquisition Two
Business Combinations [Line Items]
Voting interest							42.00%
Number of companies acquired \| acquisition							2
Voting interest sold			20.00%
2023 Acquisitions
Business Combinations [Line Items]
Cash, net of cash acquired							$ 69,000
Estimated fair value of contingent consideration			$ 1,000				1,000
Business combinations, contingent consideration liabilities, range of potential undiscounted earn-out liabilities, high			2,000				2,000
Business combinations, goodwill, expected tax deductible amount			43,000				$ 43,000
Business combinations, number of acquisitions \| acquisition							4
Business acquisition, number of shares issued (in shares) \| shares				120,000
2022 Acquisitions
Business Combinations [Line Items]
Cash, net of cash acquired							$ 613,200
Estimated fair value of contingent consideration			2,800				2,800
Business combinations, contingent consideration liabilities, range of potential undiscounted earn-out liabilities, high			1,000				1,000
Business combinations, goodwill, expected tax deductible amount			46,000				46,000
Business combinations, number of acquisitions \| acquisition								5
Amortizing intangible assets			368,100				368,100
Goodwill			$ 584,200				584,200
Total consideration							800,000
Shares transferred							$ 173,700
2022 Acquisitions \| Expected Term
Business Combinations [Line Items]
Business combinations, contingent consideration, earn-out period (in years) \| yr			5				5
IEA
Business Combinations [Line Items]
Cash, net of cash acquired							$ 564,500
Estimated fair value of contingent consideration			$ 0				0
Amortizing intangible assets			362,200				$ 362,200
Business combinations, acquired finite-lived intangible assets, weighted average lives (in years)							13 years
Number of shares issuable upon exercise of warrants (in shares) \| shares							2,700,000
Business acquisition, equity interest issued or issuable, value assigned			174,000				$ 174,000
Cash acquired							44,000
Net cash payments to warrant holders								$ 1,700
Goodwill			568,800				568,800
Total consideration							748,500
Business acquisition, number of shares issued (in shares) \| shares								2,758,000
Shares transferred							173,700
IEA \| Infrastructure Energy Alternatives, Inc. Warrants
Business Combinations [Line Items]
Increase (decrease) in contingent consdieration							2,600	$ (2,700)
IEA \| Common Stock
Business Combinations [Line Items]
Issuance of shares for acquisition (in shares) \| shares								107,187
Fair value of shares issued								$ 8,100
IEA \| 6.625% Senior Notes \| Senior Notes
Business Combinations [Line Items]
Long-term debt obligations acquired			300,000				300,000
IEA \| Trade Names and Customer Relationships
Business Combinations [Line Items]
Amortizing intangible assets			321,000				$ 321,000
IEA \| Trade Names
Business Combinations [Line Items]
Business combinations, acquired finite-lived intangible assets, weighted average lives (in years)							14 years
IEA \| Customer Relationships
Business Combinations [Line Items]
Business combinations, acquired finite-lived intangible assets, weighted average lives (in years)							14 years
IEA \| Backlog
Business Combinations [Line Items]
Amortizing intangible assets			42,000				$ 42,000
Business combinations, acquired finite-lived intangible assets, weighted average lives (in years)							1 year
All other
Business Combinations [Line Items]
Cash, net of cash acquired							$ 48,700
Estimated fair value of contingent consideration			2,800				2,800
Amortizing intangible assets			5,900				$ 5,900
Business combinations, acquired finite-lived intangible assets, weighted average lives (in years)							9 years
Goodwill			15,400				$ 15,400
Total consideration							51,500
Shares transferred							0
2021 Acquisitions
Business Combinations [Line Items]
Cash, net of cash acquired								1,279,100
Estimated fair value of contingent consideration		$ 105,000				105,000		104,900	$ 105,000
Business combinations, contingent consideration liabilities, range of potential undiscounted earn-out liabilities, high			79,000				79,000
Business combinations, goodwill, expected tax deductible amount			178,000				178,000
Business combinations, number of acquisitions \| acquisition									14
Amortizing intangible assets								608,600
Goodwill								258,000
Bargain purchase gain								3,600
Total consideration								1,565,700
Shares transferred								181,700
Business combinations, contingent consideration liabilities, range of potential undiscounted earn-out liabilities, low			21,000				$ 21,000
2021 Acquisitions \| Power Delivery
Business Combinations [Line Items]
Bargain purchase gain						$ 3,600		200
2021 Acquisitions \| Expected Term \| Minimum
Business Combinations [Line Items]
Business combinations, contingent consideration, earn-out period (in years) \| yr		1				1			1
2021 Acquisitions \| Expected Term \| Maximum
Business Combinations [Line Items]
Business combinations, contingent consideration, earn-out period (in years) \| yr		5				5			5
HMG
Business Combinations [Line Items]
Cash, net of cash acquired								402,400
Estimated fair value of contingent consideration								0
Amortizing intangible assets								164,400
Business combinations, acquired finite-lived intangible assets, weighted average lives (in years)							11 years
Goodwill								71,400
Bargain purchase gain								0
Total consideration								$ 584,100
Business acquisition, number of shares issued (in shares) \| shares		1,975,000					2,000,000	133,000
Shares transferred							$ 182,000	$ 181,700
HMG \| Contingent Consideration, Value Of Additional Payments
Business Combinations [Line Items]
Estimated fair value of contingent consideration								$ 65,000
Increase (decrease) in contingent consdieration					$ (15,000)
Total consideration	$ 29,400
Payments to acquire businesses, gross	$ 18,000
Business acquisition, number of shares issued (in shares) \| shares	133,157						160,000	170,000
Business combinations, contingent consideration, realized gain (loss)							$ 1,000
Business combination, contingent consideration, current			34,000				34,000	$ 37,000
Contingent consideration, unrealized gain (loss)							1,300
Reduction in unrealized gain (loss) from changes in collections attributed to acquired balances							2,400
HMG \| Contingent Consideration, Collections From Acquired Receivables
Business Combinations [Line Items]
Estimated fair value of contingent consideration			19,400				$ 19,400
Business acquisition, number of shares issued (in shares) \| shares							87,900
Contingent consideration, unrealized gain (loss)							$ 6,700
HMG \| Power Delivery \| Contingent Consideration, Value Of Additional Payments
Business Combinations [Line Items]
Contingent consideration, unrealized gain (loss)								1,200
HMG \| Customer Relationships
Business Combinations [Line Items]
Amortizing intangible assets			132,000				$ 132,000
Business combinations, acquired finite-lived intangible assets, weighted average lives (in years)							12 years
All other
Business Combinations [Line Items]
Cash, net of cash acquired							$ 78,000	876,700
Estimated fair value of contingent consideration								104,900
Amortizing intangible assets								444,200
Business combinations, acquired finite-lived intangible assets, weighted average lives (in years)							17 years
Goodwill								186,600
Bargain purchase gain								3,600
Total consideration								981,600
Shares transferred								$ 0
All other \| Expected Term \| Power Delivery \| Minimum
Business Combinations [Line Items]
Business combinations, contingent consideration, earn-out period (in years) \| yr		1				1			1
All other \| Trade Names
Business Combinations [Line Items]
Business combinations, acquired finite-lived intangible assets, weighted average lives (in years)							17 years
All other \| Customer Relationships
Business Combinations [Line Items]
Business combinations, acquired finite-lived intangible assets, weighted average lives (in years)							17 years
All other, INTREN acquisition \| Power Delivery
Business Combinations [Line Items]
Goodwill		$ 49,000				$ 49,000			$ 49,000
Total consideration							$ 455,000
All other, INTREN acquisition \| Customer Relationships And Trade Names \| Power Delivery
Business Combinations [Line Items]
Amortizing intangible assets			$ 281,000				$ 281,000
Business combinations, acquired finite-lived intangible assets, weighted average lives (in years)							20 years

Commitments and Contingencies - Acquired Legacy Solar Matter (Details) - USD ($) $ in Millions			1 Months Ended
	Oct. 23, 2023	Apr. 28, 2023	Mar. 31, 2021
Silicon Ranch Corporation, LLC \| Litigation Settlement, Benchmark \| Commitments And Contingencies Concentration Risk
Commitments and Contingencies [Line Items]
Concentration risk, percentage of total		30.00%
IEA \| Litigation Settlement, Benchmark \| Commitments And Contingencies Concentration Risk
Commitments and Contingencies [Line Items]
Concentration risk, percentage of total		40.00%
IEA Constructors, LLC \| Litigation Settlement, Benchmark \| Commitments And Contingencies Concentration Risk
Commitments and Contingencies [Line Items]
Concentration risk, percentage of total		30.00%
Silicon Ranch Corporation, LLC Matter \| H&L Farms
Commitments and Contingencies [Line Items]
Payments to acquire land			$ 3.3
Silicon Ranch Corporation, LLC Matter \| Infrastructure Energy Alternatives, Inc. And Silicon Ranch Corporation, LLC
Commitments and Contingencies [Line Items]
Compensatory damages awarded to plaintiffs	$ 0.5	$ 4.5
Remediation costs		1.5
Remediation expense remittitur	0.3
Silicon Ranch Corporation, LLC Matter \| Silicon Ranch Corporation, LLC
Commitments and Contingencies [Line Items]
Punitive damages		25.0
Reduction in punitive damages	1.1
Silicon Ranch Corporation, LLC Matter \| Infrastructure Energy Alternatives, Inc. And IEA Constructors, LLC
Commitments and Contingencies [Line Items]
Punitive damages		$ 50.0
Reduction in punitive damages	$ 2.7

Segments and Related Information - Narrative (Details) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2021 USD ($)	Dec. 31, 2023 USD ($) segment	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Segment and Related Information [Line Items]
Number of operating segments \| segment		5
Number of reportable segments \| segment		5
Other
Segment and Related Information [Line Items]
Gain (loss) on investments			$ 2.8
Corporate
Segment and Related Information [Line Items]
Bargain purchase gain			0.2	$ 3.5
Corporate \| AVCT
Segment and Related Information [Line Items]
Fair value losses related to investment		$ 0.2	7.7	7.8
2023 Acquisitions
Segment and Related Information [Line Items]
Acquisition and integration costs		71.9
2023 Acquisitions \| Reportable Segments \| Communications Segment
Segment and Related Information [Line Items]
Acquisition and integration costs		22.5
2023 Acquisitions \| Reportable Segments \| Clean Energy and Infrastructure Segment
Segment and Related Information [Line Items]
Acquisition and integration costs		37.1
2023 Acquisitions \| Reportable Segments \| Power Delivery
Segment and Related Information [Line Items]
Acquisition and integration costs		8.5
2023 Acquisitions \| Corporate
Segment and Related Information [Line Items]
Acquisition and integration costs		$ 3.8
2022 Acquisitions
Segment and Related Information [Line Items]
Acquisition and integration costs			86.0
2022 Acquisitions \| Reportable Segments \| Communications Segment
Segment and Related Information [Line Items]
Acquisition and integration costs			4.7
2022 Acquisitions \| Reportable Segments \| Clean Energy and Infrastructure Segment
Segment and Related Information [Line Items]
Acquisition and integration costs			6.4
2022 Acquisitions \| Reportable Segments \| Power Delivery
Segment and Related Information [Line Items]
Acquisition and integration costs			39.0
2022 Acquisitions \| Reportable Segments \| Oil and Gas
Segment and Related Information [Line Items]
Acquisition and integration costs			8.0
2022 Acquisitions \| Corporate
Segment and Related Information [Line Items]
Acquisition and integration costs			27.9
2021 Acquisitions
Segment and Related Information [Line Items]
Acquisition and integration costs				$ 3.6
Bargain purchase gain			3.6
2021 Acquisitions \| Power Delivery
Segment and Related Information [Line Items]
Bargain purchase gain	$ 3.6		$ 0.2

Acquisitions, Goodwill and Other Intangible Assets, Net - Pro Forma Financial Information and Acquisition Results and Integration Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Business Combinations [Line Items]
Business combinations, unaudited supplemental pro forma revenue	$ 12,000.0	$ 11,600.0	$ 12,300.0
Business combinations, unaudited supplemental pro forma net income	(61.3)	7.4	229.1
Business combinations, consolidated acquisition-related revenue	1,546.3	2,990.1	1,021.8
Business combinations, consolidated acquisition-related net income (loss)	(40.0)	53.9	6.6
2023 Acquisitions, Infrastructure Energy Alternatives, Inc.
Business Combinations [Line Items]
Business combinations, consolidated acquisition-related revenue	1,374.6
IEA
Business Combinations [Line Items]
Business combinations, consolidated acquisition-related revenue		567.2
2022 Acquisitions, All Other, INTREN
Business Combinations [Line Items]
Business combinations, consolidated acquisition-related revenue		1,902.4
All other, INTREN acquisition
Business Combinations [Line Items]
Business combinations, consolidated acquisition-related revenue			436.0
2023 Acquisitions
Business Combinations [Line Items]
Business combinations, consolidated acquisition-related revenue	145.9
Business combinations, consolidated acquisition-related net income (loss)	(5.9)
Acquisition and integration costs	71.9
2023 Acquisitions \| General and Administrative Expense
Business Combinations [Line Items]
Acquisition and integration costs	64.1
2023 Acquisitions \| Cost of Sales
Business Combinations [Line Items]
Acquisition and integration costs	7.8
2021 Acquisitions
Business Combinations [Line Items]
Acquisition and integration costs			3.6
2021 Acquisitions \| General and Administrative Expense
Business Combinations [Line Items]
Acquisition and integration costs			$ 3.6
2022 and 2023 Acquisitions
Business Combinations [Line Items]
Integration related liabilities	$ 0.3	5.5
2022 Acquisitions
Business Combinations [Line Items]
Acquisition and integration costs		86.0
2022 Acquisitions \| General and Administrative Expense
Business Combinations [Line Items]
Acquisition and integration costs		52.0
2022 Acquisitions \| Cost of Sales
Business Combinations [Line Items]
Acquisition and integration costs		29.3
2022 Acquisitions \| Other Expense
Business Combinations [Line Items]
Acquisition and integration costs		$ 4.7

Income Taxes - Schedule of Provision for Income Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current:
Federal	$ 90,200	$ (9,800)	$ 36,900
Foreign	1,800	3,600	1,500
State and local	13,500	5,800	9,000
Total current income tax expense	105,500	(400)	47,400
Deferred:
Federal	(119,700)	5,900	37,000
Foreign	(100)	600	(100)
State and local	(21,100)	3,100	15,000
Total deferred income tax expense	(140,900)	9,600	51,900
(Benefit from) provision for income taxes	$ (35,408)	$ 9,171	$ 99,346

Segments and Related Information - Schedule of Financial Information by Reportable Segment - Depreciation and Amortization (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Depreciation and Amortization:
Consolidated depreciation and amortization	$ 603.2	$ 507.1	$ 422.8
Reportable Segments \| Communications
Depreciation and Amortization:
Consolidated depreciation and amortization	136.8	126.4	99.3
Reportable Segments \| Clean Energy and Infrastructure
Depreciation and Amortization:
Consolidated depreciation and amortization	144.2	87.0	43.5
Reportable Segments \| Power Delivery
Depreciation and Amortization:
Consolidated depreciation and amortization	158.9	147.8	61.5
Reportable Segments \| Oil and Gas
Depreciation and Amortization:
Consolidated depreciation and amortization	152.9	134.6	207.8
Reportable Segments \| Other
Depreciation and Amortization:
Consolidated depreciation and amortization	0.0	0.0	0.0
Corporate
Depreciation and Amortization:
Consolidated depreciation and amortization	$ 10.4	$ 11.3	$ 10.7

Lease Obligations - Future Minimum Lease Commitments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Finance Leases
2024	$ 156,500
2025	119,400
2026	61,600
2027	21,400
2028	3,000
Thereafter	100
Total minimum lease payments	362,000
Less amounts representing interest	(20,200)
Total lease obligations, net of interest	341,800
Less current portion	144,200
Long-term portion of lease obligations, net of interest	$ 197,600
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Current portion of long-term debt, including finance leases
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Long-term debt, including finance leases
Operating Leases
2024	$ 152,200
2025	126,200
2026	90,400
2027	46,600
2028	20,500
Thereafter	36,700
Total minimum lease payments	472,600
Less amounts representing interest	(41,900)
Total lease obligations, net of interest	430,700
Less current portion	137,765	$ 96,516
Long-term portion of lease obligations, net of interest	$ 292,873	$ 194,050

Schedule II - Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2023

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, 2023
Allowance for credit losses	$	8.4	$	12.7	(a)	$	—		$	(6.0)	(b)	$	15.1
Allowance for unbilled receivables and project close-out liabilities	117.0		34.0		(a)	—			(68.0)		(b)	83.0
Valuation allowance for deferred tax assets	87.6		2.8		(c)	—			(30.0)		(d)	60.4
Total	$	213.0	$	49.5		$	—		$	(104.0)		$	158.5
Year ended December 31, 2022
Allowance for credit losses	$	7.8	$	2.6	(a)	$	—		$	(2.0)	(b)	$	8.4
Allowance for unbilled receivables and project close-out liabilities	96.8		9.4		(a)	40.3		(e)	(29.5)		(b)	117.0
Valuation allowance for deferred tax assets	54.2		11.6		(c)	29.6		(e)	(7.8)		(d)	87.6
Total	$	158.8	$	23.6		$	69.9		$	(39.3)		$	213.0
Year ended December 31, 2021
Allowance for credit losses	$	20.5	$	2.8	(a)	$	—		$	(15.5)	(b)	$	7.8
Allowance for unbilled receivables and project close-out liabilities	50.4		67.0		(a)	—			(20.6)		(b)	96.8
Valuation allowance for deferred tax assets	45.8		9.4		(c)	—			(1.0)		(d)	54.2
Total	$	116.7	$	79.2		$	—		$	(37.1)		$	158.8

(a) Provisions for receivables and project close-out liabilities.

(b) Write-offs of and reversals for receivables and project close-out liabilities.

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

(e) Assumption of acquisition-related balances.

Debt - Schedule of Carrying Values of Debt (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Oct. 07, 2022	Aug. 04, 2020
Debt Instrument [Line Items]
Long-term debt obligations		$ 0
Finance lease and other obligations	$ 380,300,000	414,500,000
Total debt obligations	3,078,800,000	3,241,700,000
Less unamortized deferred financing costs	(13,500,000)	(17,600,000)
Total debt, net of deferred financing costs	3,065,300,000	3,224,100,000
Current portion of long-term debt	177,246,000	171,916,000
Long-term debt	2,888,058,000	3,052,193,000
Credit Facility \| Revolving loans
Debt Instrument [Line Items]
Long-term debt obligations	773,000,000.0	896,000,000.0
Credit Facility \| Term loan
Debt Instrument [Line Items]
Long-term debt obligations	341,300,000	350,000,000.0
Credit Facility \| Term loan \| 2022 Term Loan Facility
Debt Instrument [Line Items]
Long-term debt obligations	$ 700,000,000.0	700,000,000.0
Senior Notes \| 4.50% Senior Notes
Debt Instrument [Line Items]
Debt instrument, interest rate (percentage)	4.50%
Long-term debt obligations	$ 600,000,000.0	600,000,000.0		$ 600,000,000
Senior Notes \| 6.625% Senior Notes
Debt Instrument [Line Items]
Debt instrument, interest rate (percentage)	6.625%
Long-term debt obligations	$ 284,200,000	$ 281,200,000	$ 300,000,000

Lease Obligations - Operating Leases (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating Leased Assets [Line Items]
Operating leases, additions	$ 224.6	$ 119.1	$ 172.9
Operating lease expense	162.1	134.1	107.7
Operating leases, variable lease costs	15.8	11.1	10.1
Operating leases, short-term leases, expense	$ 608.2	377.8	494.7
2022 Acquisitions
Operating Leased Assets [Line Items]
Operating leases, additions		$ 32.4
2021 Acquisitions
Operating Leased Assets [Line Items]
Operating leases, additions			$ 149.3

Segments and Related Information - Reconciliation of Consolidated Income before Income Taxes to EBITDA (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
EBITDA Reconciliation:
(Loss) income before income taxes	$ (82,704)	$ 43,059	$ 430,075
Interest expense, net	234,405	112,255	53,413
Depreciation	433,929	371,240	345,612
Amortization of intangible assets	169,233	135,908	77,214
Corporate EBITDA	163,900	165,600	97,500
Segment EBITDA	$ 918,800	$ 828,100	$ 1,003,800

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(11))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479557/942-235-S99-1

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 25
-Paragraph 1
-SubTopic 20
-Topic 940
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481913/940-20-25-1

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

Fair Value of Financial Instruments - Other Investments - Other Equity Investments (Details) - USD ($)	12 Months Ended			36 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2023
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Equity method investments, net investment	$ 319,000,000	$ 306,000,000		$ 319,000,000
Equity method investments, equity contributions	300,000
Equity method investments, equity in earnings (losses)	30,697,000	28,836,000	$ 33,830,000
Subcontracting Arrangements \| Related Party
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Payables, related party	1,100,000	300,000		1,100,000
Receivables, related party	400,000	400,000		400,000
Telecommunications Equity Method Investees
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Equity method investments, net investment	21,000,000	21,000,000		21,000,000
Equity method investments, equity contributions	0	1,000,000	2,000,000
Equity method investments, equity in earnings (losses)	400,000	(300,000)	(700,000)
Telecommunications Equity Method Investees \| Subcontracting Arrangements \| Related Party
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Payments, related party	1,800,000	7,600,000	9,900,000
Payables, related party	100,000	200,000		100,000
Telecommunications Equity Method Investees \| Employee Leasing and Advanced Receivable Arrangement
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Payments, related party		3,300,000	200,000
Telecommunications Equity Method Investees \| Employee Leasing and Advanced Receivable Arrangement \| Related Party
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Receivables, related party	4,000,000	3,800,000		4,000,000
Telecommunications Equity Method Investees \| Employee Leasing Expense Arrangement
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Payments, related party	0
Telecommunications Equity Method Investees \| Advanced Receivable Arrangement
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Payments, related party	700,000
FM Tech
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Equity method investments, net investment	$ 18,000,000	18,000,000		$ 18,000,000
Equity method investment, ownership percentage	50.00%			50.00%
FM Tech \| Equity Method Investments
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Financing commitments	$ 3,000,000	3,000,000		$ 3,000,000
FM Tech \| Maximum \| Equity Method Investments
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Financing commitments	7,000,000			7,000,000
Certain Entities, Each Accounted for Using Equity Method Investments
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Equity method investments, net investment	3,000,000	3,000,000		$ 3,000,000
Equity method investments, equity in earnings (losses)	(200,000)	(400,000)	0
Payments, related party	$ 900,000	$ 6,600,000
Equity method investment, ownership percentage	49.00%	49.00%		49.00%
Borrowing availability	$ 3,000,000	$ 4,500,000		$ 3,000,000
Certain Entities, Each Accounted for Using Equity Method Investments \| Other Current Assets
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Borrowing availability	0	600,000		0
Confluence
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Financing commitments			2,500,000
Equity method investments, equity contributions	200,000	200,000	1,700,000	$ 2,100,000
Equity method investments, equity in earnings (losses)	(200,000)	$ (400,000)	$ (700,000)
Equity method investment, ownership percentage			75.00%
AVCT
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Unrealized fair value measurement gains, net, AVCT shares	$ (200,000)

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2023
Auditor Information [Line Items]
Auditor Name	BDO USA, P.C.
Auditor Location	Miami, Florida
Auditor Firm ID	243
Subsidiaries
Auditor Information [Line Items]
Auditor Name	Deloitte & Touche LLP
Auditor Location	Indianapolis, Indiana
Auditor Firm ID	34

Debt - Other Credit Facilities (Details) $ in Millions	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CAD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CAD ($)
Debt Instrument [Line Items]
Long-term debt obligations			$ 0
Letters of credit issued	$ 82,100,000		166,700,000
Other Credit Facilities
Debt Instrument [Line Items]
Long-term debt obligations	0	$ 20.0		$ 20.0
Line of credit facility, maximum borrowing capacity	15,100,000		14,800,000
Line of Credit \| Standby Letters of Credit
Debt Instrument [Line Items]
Letters of credit issued	17,200,000		$ 23,600,000
Line of Credit \| Letter of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 50,000,000
Line of Credit \| Letter of Credit \| Standby Letters of Credit
Debt Instrument [Line Items]
Line of credit facility, interest rate (percentage)	0.90%	0.90%	0.75%	0.75%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482900/835-30-50-1

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(f))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69B

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69C
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69C

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69E
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69E

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69F
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69F

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1D

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1D

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1D

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1F
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Business, Basis of Presentation and Significant Accounting Policies - Revenue Recognition (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue [Line Items]
Revenue recognition, changes in contract estimates, cost-to-cost method, financial effect, percentage	0.20%	0.10%	0.50%
Revenue recognition, remaining performance obligations, contract price allocated	$ 7,700
Contract with customer, unapproved change orders and/or claims, amount (in dollars)	$ 194	$ 271
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue [Line Items]
Revenue recognition, remaining performance obligations, completion period (in years)	1 year
Revenue recognition, remaining performance obligations, contract price allocated	$ 5,200
Maximum
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 \| Concentration Risk from Type of Arrangement \| Master Service and Other Service Agreements
Revenue [Line Items]
Concentration risk, percentage of total	40.00%	51.00%	38.00%
Revenue Benchmark \| Concentration Risk from Type of Arrangement \| Master Service and Other Service Agreements \| Point in Time
Revenue [Line Items]
Concentration risk, percentage of total	2.00%	4.00%	4.00%

Equity - Rollforward of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Loss [Line Items]
Beginning balance	$ 2,741,187	$ 2,543,861	$ 2,005,525
Unrealized gains (losses), net of tax	(2,042)	27,821	12,668
Ending balance	2,721,261	2,741,187	2,543,861
Foreign Currency
Accumulated Other Comprehensive Loss [Line Items]
Beginning balance	(67,103)	(64,014)	(64,272)
Unrealized gains (losses), net of tax	1,695	(3,089)	258
Ending balance	(65,408)	(67,103)	(64,014)
Other
Accumulated Other Comprehensive Loss [Line Items]
Beginning balance	16,148	(14,762)	(27,172)
Unrealized gains (losses), net of tax	(3,737)	30,910	12,410
Ending balance	12,411	16,148	(14,762)
Total
Accumulated Other Comprehensive Loss [Line Items]
Beginning balance	(50,955)	(78,776)	(91,444)
Ending balance	$ (52,997)	$ (50,955)	$ (78,776)

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

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

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-SubTopic 10
-Topic 505
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481674/830-30-50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481694/830-30-45-17

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-4

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-5

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481694/830-30-45-20

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1B

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-SubTopic 10
-Topic 220
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482739/220-10-55-15

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1A

+ Details

- Definition

Amount of equity (deficit) attributable to parent and noncontrolling interest. Excludes temporary equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483421/250-10-45-24

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 23
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483421/250-10-45-23

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 5
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483421/250-10-45-5

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 5
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-5

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (h)(1)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (i)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)(3)(iii)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483550/848-10-65-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479343/105-10-65-6

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479343/105-10-65-6

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482615/740-10-65-8

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 8
-Subparagraph (d)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482615/740-10-65-8

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 4
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-4

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 15
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480336/718-10-65-15

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 15
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480336/718-10-65-15

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 15
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480336/718-10-65-15

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-7

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-5

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481674/830-30-50-1

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481694/830-30-45-17

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481694/830-30-45-20

Reference 29: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480167/946-830-55-11

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 205
-Name Accounting Standards Codification
-Section 45
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480767/946-205-45-3

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481004/946-505-50-3

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(19))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.6-05(4))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479617/946-210-S99-2

Reference 34: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(4)(b))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(6))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(7))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1

Reference 38: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 39: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 40: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 41: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481231/810-10-45-15

Reference 42: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 16
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481231/810-10-45-16

Reference 43: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4I
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481175/810-10-55-4I

+ Details

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, 2023	Dec. 31, 2022	Dec. 31, 2021
Receivables [Abstract]
Contract billings	$ 1,385,200	$ 1,408,100
Less allowance	(15,100)	(8,400)
Accounts receivable, net of allowance	1,370,074	1,399,732
Contract Assets [Abstract]
Retainage	356,400	401,900
Unbilled receivables	1,400,000	1,328,000
Contract assets	$ 1,756,381	$ 1,729,886	$ 1,227,900

Equity (Tables)

12 Months Ended

Dec. 31, 2023

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,
	2023						2022						2021
	Foreign Currency		Other		Total		Foreign Currency		Other		Total		Foreign Currency		Other		Total
Balance as of January 1	$	(67,103)	$	16,148	$	(50,955)	$	(64,014)	$	(14,762)	$	(78,776)	$	(64,272)	$	(27,172)	$	(91,444)
Unrealized gains (losses), net of tax	1,695		(3,737)		(2,042)		(3,089)		30,910		27,821		258		12,410		12,668
Balance as of December 31	$	(65,408)	$	12,411	$	(52,997)	$	(67,103)	$	16,148	$	(50,955)	$	(64,014)	$	(14,762)	$	(78,776)

Acquisitions, Goodwill and Other Intangible Assets, Net - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	May 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Acquisition consideration:
Cash, net of cash acquired		$ 69,388	$ 635,763	$ 1,244,603
Identifiable assets acquired and liabilities assumed:
Goodwill		2,126,366	$ 2,045,041	1,520,600
Business Combination Bargain Purchase Gain Recognized Statement of Income or Comprehensive Income Extensible Enumeration not Disclosed Flag			Bargain purchase gain
2022 Acquisitions
Acquisition consideration:
Cash, net of cash acquired		613,200
Shares transferred		173,700
Estimated fair value of warrants		10,300
Estimated fair value of contingent consideration		2,800
Total consideration		800,000
Identifiable assets acquired and liabilities assumed:
Accounts receivable and contract assets		576,100
Current assets		36,100
Property and equipment		252,600
Long-term assets, primarily operating lease right-of-use assets		40,900
Amortizing intangible assets		368,100
Accounts payable		(141,100)
Contract liabilities		(152,800)
Current liabilities, primarily accrued expenses		(327,600)
Long-term debt, including finance lease obligations		(331,000)
Long-term liabilities, primarily operating lease liabilities and deferred income taxes		(105,500)
Total identifiable net assets		215,800
Goodwill		584,200
Total net assets acquired, including goodwill		800,000
IEA
Acquisition consideration:
Cash, net of cash acquired		564,500
Shares transferred		173,700
Estimated fair value of warrants		10,300
Estimated fair value of contingent consideration		0
Total consideration		748,500
Identifiable assets acquired and liabilities assumed:
Accounts receivable and contract assets		570,000
Current assets		34,500
Property and equipment		222,500
Long-term assets, primarily operating lease right-of-use assets		40,600
Amortizing intangible assets		362,200
Accounts payable		(136,500)
Contract liabilities		(151,300)
Current liabilities, primarily accrued expenses		(326,200)
Long-term debt, including finance lease obligations		(330,800)
Long-term liabilities, primarily operating lease liabilities and deferred income taxes		(105,300)
Total identifiable net assets		179,700
Goodwill		568,800
Total net assets acquired, including goodwill		748,500
All other
Acquisition consideration:
Cash, net of cash acquired		48,700
Shares transferred		0
Estimated fair value of warrants		0
Estimated fair value of contingent consideration		2,800
Total consideration		51,500
Identifiable assets acquired and liabilities assumed:
Accounts receivable and contract assets		6,100
Current assets		1,600
Property and equipment		30,100
Long-term assets, primarily operating lease right-of-use assets		300
Amortizing intangible assets		5,900
Accounts payable		(4,600)
Contract liabilities		(1,500)
Current liabilities, primarily accrued expenses		(1,400)
Long-term debt, including finance lease obligations		(200)
Long-term liabilities, primarily operating lease liabilities and deferred income taxes		(200)
Total identifiable net assets		36,100
Goodwill		15,400
Total net assets acquired, including goodwill		51,500
2021 Acquisitions
Acquisition consideration:
Cash, net of cash acquired			$ 1,279,100
Shares transferred			181,700
Estimated fair value of contingent consideration			104,900	$ 105,000
Total consideration			1,565,700
Identifiable assets acquired and liabilities assumed:
Accounts receivable and contract assets			675,200
Current assets			46,200
Property and equipment			499,200
Long-term assets, primarily operating lease right-of-use assets			166,800
Amortizing intangible assets			608,600
Accounts payable			(157,300)
Current liabilities, primarily accrued expenses			(297,900)
Long-term debt, including finance lease obligations			(4,600)
Long-term liabilities, primarily operating lease liabilities and deferred income taxes			(224,900)
Total identifiable net assets			1,311,300
Goodwill			258,000
Total net assets acquired, including goodwill			1,569,300
Bargain purchase gain			(3,600)
HMG
Acquisition consideration:
Cash, net of cash acquired			402,400
Shares transferred		182,000	181,700
Estimated fair value of contingent consideration			0
Total consideration			584,100
Identifiable assets acquired and liabilities assumed:
Accounts receivable and contract assets			409,000
Current assets			19,500
Property and equipment			248,600
Long-term assets, primarily operating lease right-of-use assets			84,900
Amortizing intangible assets			164,400
Accounts payable			(108,000)
Current liabilities, primarily accrued expenses			(157,200)
Long-term debt, including finance lease obligations			(200)
Long-term liabilities, primarily operating lease liabilities and deferred income taxes			(148,300)
Total identifiable net assets			512,700
Goodwill			71,400
Total net assets acquired, including goodwill			584,100
Bargain purchase gain			0
HMG \| Contingent Consideration, Value Of Additional Payments
Acquisition consideration:
Estimated fair value of contingent consideration			65,000
Total consideration	$ 29,400
All other
Acquisition consideration:
Cash, net of cash acquired		$ 78,000	876,700
Shares transferred			0
Estimated fair value of contingent consideration			104,900
Total consideration			981,600
Identifiable assets acquired and liabilities assumed:
Accounts receivable and contract assets			266,200
Current assets			26,700
Property and equipment			250,600
Long-term assets, primarily operating lease right-of-use assets			81,900
Amortizing intangible assets			444,200
Accounts payable			(49,300)
Current liabilities, primarily accrued expenses			(140,700)
Long-term debt, including finance lease obligations			(4,400)
Long-term liabilities, primarily operating lease liabilities and deferred income taxes			(76,600)
Total identifiable net assets			798,600
Goodwill			186,600
Total net assets acquired, including goodwill			985,200
Bargain purchase gain			$ (3,600)

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Total	Total MasTec, Inc. Shareholders’ Equity	Common Stock	Treasury Stock	Capital Surplus	Retained Earnings	Accumulated Other Comprehensive Loss	Non-Controlling Interests
Beginning balance, common shares outstanding (in shares) at Dec. 31, 2020			93,107,440
Beginning balance at Dec. 31, 2020	$ 2,005,525	$ 2,001,922	$ 9,311	$ (586,955)	$ 837,453	$ 1,833,557	$ (91,444)	$ 3,603
Beginning balance, treasury shares (in shares) at Dec. 31, 2020				(18,941,926)
Consolidated Statements of Equity
Net income (loss)	330,729	328,831				328,831		1,898
Other comprehensive income (loss)	12,668	12,668					12,668
Non-cash stock-based compensation	24,805	24,805			24,805
Issuance of restricted shares, net (in shares)			305,882
Issuance of restricted shares, net	0	0	$ 31		(31)
Shares withheld for taxes, net of other stock issuances (in shares)			(17,343)
Shares withheld for taxes, net of other stock issuances	(4,670)	(4,670)	$ (3)		(4,667)
Issuance of shares in connection with acquisition (in shares)			1,975,232
Issuance of shares in connection with acquisition	$ 181,682	181,682	$ 198		181,484
Acquisition of treasury stock, at cost (in shares)	0
Distributions to non-controlling interests	$ (76)							(76)
Purchase of non-controlling interests	(6,802)	(5,429)			(5,429)			(1,373)
Ending balance, common shares outstanding (in shares) at Dec. 31, 2021			95,371,211
Ending balance at Dec. 31, 2021	2,543,861	2,539,809	$ 9,537	$ (586,955)	1,033,615	2,162,388	(78,776)	4,052
Ending balance, treasury shares (in shares) at Dec. 31, 2021				(18,941,926)
Consolidated Statements of Equity
Net income (loss)	33,888	33,354				33,354		534
Other comprehensive income (loss)	27,821	27,821					27,821
Non-cash stock-based compensation	27,446	27,446			27,446
Issuance of restricted shares, net (in shares)			534,909
Issuance of restricted shares, net	0	0	$ 53		(53)
Shares withheld for taxes, net of other stock issuances (in shares)			(49,418)
Shares withheld for taxes, net of other stock issuances	(2,867)	(2,867)	$ (5)		(2,862)
Issuance of shares in connection with acquisition (in shares)			2,758,403	133,157
Issuance of shares in connection with acquisition	$ 193,057	193,057	$ 277	$ 4,336	188,444
Acquisition of treasury stock, at cost (in shares)	(1,124,000)			(1,124,286)
Acquisition of treasury stock, at cost	$ (81,291)	(81,291)		$ (81,291)
Distributions to non-controlling interests	$ (728)							(728)
Ending balance, common shares outstanding (in shares) at Dec. 31, 2022	98,615,105		98,615,105
Ending balance at Dec. 31, 2022	$ 2,741,187	2,737,329	$ 9,862	$ (663,910)	1,246,590	2,195,742	(50,955)	3,858
Ending balance, treasury shares (in shares) at Dec. 31, 2022	(19,933,055)			(19,933,055)
Consolidated Statements of Equity
Net income (loss)	$ (47,296)	(49,949)				(49,949)		2,653
Other comprehensive income (loss)	(2,042)	(2,042)					(2,042)
Non-cash stock-based compensation	33,335	33,335			33,335
Issuance of restricted shares, net (in shares)			592,553
Issuance of restricted shares, net	0	0	$ 59		(59)
Shares withheld for taxes, net of other stock issuances (in shares)			(118,636)
Shares withheld for taxes, net of other stock issuances	(5,448)	(5,448)	$ (12)		(5,436)
Issuance of shares in connection with acquisition (in shares)			4,112
Issuance of shares in connection with acquisition	$ 403	403	$ 0		403
Acquisition of treasury stock, at cost (in shares)	0
Distributions to non-controlling interests	$ (2,818)							(2,818)
Purchase of non-controlling interests (in shares)				120,000
Purchase of non-controlling interests	(10,000)	(7,476)		$ 3,997	(11,473)			(2,524)
Sale of minority interest in subsidiary	7,112							7,112
Acquisition-related assumption of non-controlling interest	$ 6,828							6,828
Ending balance, common shares outstanding (in shares) at Dec. 31, 2023	99,093,134		99,093,134
Ending balance at Dec. 31, 2023	$ 2,721,261	$ 2,706,152	$ 9,909	$ (659,913)	$ 1,263,360	$ 2,145,793	$ (52,997)	$ 15,109
Ending balance, treasury shares (in shares) at Dec. 31, 2023	(19,813,055)			(19,813,055)

Acquisitions, Goodwill and Other Intangible Assets, Net - Rollforward of Other Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Other Intangible Assets [Line Items]
Other intangible assets, gross			$ 996,100
Accumulated amortization			(325,800)
Other Intangible Assets [Roll Forward]
Other intangible assets, net, beginning balance	$ 946,299	$ 670,300
Additions from new business combinations	6,800	368,100
Measurement period adjustments		45,500
Currency translation adjustments	400	(1,700)
Amortization expense	(169,200)	(135,900)
Other intangible assets, net, ending balance	$ 784,260	946,299
Weighted Average
Other Intangible Assets [Roll Forward]
Remaining weighted average amortization period (in years)	13 years
Customer Relationships and Backlog
Other Intangible Assets [Line Items]
Other intangible assets, gross			763,100
Accumulated amortization			(278,000)
Other Intangible Assets [Roll Forward]
Other intangible assets, net, beginning balance	$ 700,600	485,100
Additions from new business combinations	6,700	272,000
Measurement period adjustments		56,000
Currency translation adjustments	0	0
Amortization expense	(140,000)	(112,500)
Other intangible assets, net, ending balance	$ 567,300	700,600
Customer Relationships and Backlog \| Weighted Average
Other Intangible Assets [Roll Forward]
Remaining weighted average amortization period (in years)	13 years
Trade Names
Other Intangible Assets [Line Items]
Other intangible assets, gross			140,100
Accumulated amortization			(15,600)
Other Intangible Assets [Roll Forward]
Other intangible assets, net, beginning balance	$ 200,000	124,500
Additions from new business combinations	100	95,800
Measurement period adjustments		(6,900)
Currency translation adjustments	0	0
Amortization expense	(20,900)	(13,400)
Other intangible assets, net, ending balance	$ 179,200	200,000
Trade Names \| Weighted Average
Other Intangible Assets [Roll Forward]
Remaining weighted average amortization period (in years)	13 years
Other
Other Intangible Assets [Line Items]
Other intangible assets, gross			92,900
Accumulated amortization			(32,200)
Other Intangible Assets [Roll Forward]
Other intangible assets, net, beginning balance	$ 45,700	60,700
Additions from new business combinations	0	300
Measurement period adjustments		(3,600)
Currency translation adjustments	400	(1,700)
Amortization expense	(8,300)	(10,000)
Other intangible assets, net, ending balance	$ 37,800	45,700
Other \| Weighted Average
Other Intangible Assets [Roll Forward]
Remaining weighted average amortization period (in years)	9 years
Trade Names
Other Intangible Assets [Roll Forward]
Other intangible assets, non-amortizing	$ 34,500	$ 34,500	$ 34,500

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net (loss) income	$ (47,296)	$ 33,888	$ 330,729
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation	433,929	371,240	345,612
Amortization of intangible assets	169,233	135,908	77,214
Non-cash stock-based compensation expense	33,335	27,446	24,805
(Benefit from) provision for deferred income taxes	(140,863)	9,549	51,931
Equity in earnings of unconsolidated affiliates, net	(30,697)	(28,836)	(33,830)
Gains on sales of assets, net	(21,408)	(39,692)	(35,635)
Non-cash interest expense, net	5,837	4,172	3,171
Other non-cash items, net	8,875	4,743	(12,323)
Changes in assets and liabilities, net of acquisitions:
Accounts receivable	45,007	6,298	149,152
Contract assets	(54,185)	(304,351)	49,295
Inventories	33,018	(20,523)	10,147
Other assets, current and long-term portion	75,047	68,603	(35,837)
Accounts payable and accrued expenses	165,892	192,119	(104,481)
Contract liabilities	49,384	(39,372)	10,603
Other liabilities, current and long-term portion	(37,831)	(68,895)	(37,479)
Net cash provided by operating activities	687,277	352,297	793,074
Cash flows from investing activities:
Cash paid for acquisitions, net of cash acquired	(69,388)	(635,763)	(1,244,603)
Capital expenditures	(192,941)	(263,352)	(170,066)
Proceeds from sales of property and equipment	84,110	81,470	65,287
Payments for other investments	(1,899)	(3,981)	(9,996)
Proceeds from other investments	425	400	557
Other investing activities, net	1,632	43	1,650
Net cash used in investing activities	(178,061)	(821,183)	(1,357,171)
Cash flows from financing activities:
Proceeds from credit facilities and term loans	4,378,200	4,065,000	1,503,372
Repayments of credit facilities	(4,509,950)	(3,241,128)	(812,103)
Payments of finance lease obligations	(167,615)	(181,481)	(158,892)
Repurchases of common stock	0	(81,291)	0
Payments of acquisition-related contingent consideration	(21,638)	(35,149)	(21,675)
Payments for acquisition-related contingent assets	0	(17,636)	0
Payments to non-controlling interests, including acquisition of interests and distributions	(14,478)	(728)	(8,965)
Payments for stock-based awards	(10,330)	(4,098)	(6,024)
Other financing activities, net	(5,187)	(22,592)	6,229
Net cash (used in) provided by financing activities	(350,998)	480,897	501,942
Effect of currency translation on cash	751	(2,155)	(227)
Net increase (decrease) in cash and cash equivalents	158,969	9,856	(62,382)
Cash and cash equivalents - beginning of period	370,592	360,736	423,118
Cash and cash equivalents - end of period	529,561	370,592	360,736
Supplemental cash flow information:
Interest paid	237,645	106,484	61,815
Income taxes paid, net of refunds	9,608	8,603	69,110
Supplemental disclosure of non-cash information:
Additions to property and equipment from finance leases and other financing arrangements	$ 147,736	$ 232,249	$ 160,286

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (47,296)	$ 33,888	$ 330,729
Other comprehensive (loss) income:
Foreign currency translation gains (losses), net of tax	1,695	(3,089)	258
Unrealized (losses) gains on investment activity, net of tax	(3,737)	30,910	12,410
Comprehensive (loss) income	(49,338)	61,709	343,397
Comprehensive income attributable to non-controlling interests	2,653	534	1,898
Comprehensive (loss) income attributable to MasTec, Inc.	$ (51,991)	$ 61,175	$ 341,499

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-8

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-9

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480167/946-830-55-11

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 205
-Name Accounting Standards Codification
-Section 45
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480767/946-205-45-3

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483581/946-220-45-7

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(16))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(9))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(1)(d))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 19
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481231/810-10-45-19

Reference 16: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-6

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 18: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 29: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479557/942-235-S99-1

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-7

Reference 33: http://www.xbrl.org/2003/role/exampleRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 4J
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481175/810-10-55-4J

Reference 34: http://www.xbrl.org/2003/role/exampleRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 4K
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481175/810-10-55-4K

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1A

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1B

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482740/230-10-45-2

Reference 38: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481203/810-10-50-1A

Reference 39: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481203/810-10-50-1A

+ Details

Equity - Share Activity (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Equity, Treasury Stock [Line Items]
Treasury stock acquired (in shares)		0	1,124	0
Treasury stock acquired, value			$ 81,291
Treasury stock reissued (in shares)	100
Treasury stock reissued	$ 4,300
December 2018 Share Repurchase Program
Equity, Treasury Stock [Line Items]
Treasury stock acquired (in shares)		100
Treasury stock acquired, value		$ 8,600
Share repurchase program, amount authorized, value		$ 100,000
March 2020 Share Repurchase Program
Equity, Treasury Stock [Line Items]
Treasury stock acquired (in shares)		1,000
Treasury stock acquired, value		$ 72,700
Share repurchase program, amount authorized, value				$ 150,000
Stock repurchase program, remaining authorized repurchase amount		$ 77,300

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2023

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,
	2023		2022		2021
Net (loss) income attributable to MasTec:
Net (loss) income - basic (a)	$	(49,949)	$	33,354	$	328,831
Fair value gain related to contingent payments (b)	$	—	$	1,682	$	—
Net (loss) income - diluted (a)	$	(49,949)	$	31,672	$	328,831
Weighted average shares outstanding:
Weighted average shares outstanding - basic (c)	77,535		74,917		72,499
Dilutive common stock equivalents (d)(e)	—		1,268		1,442
Weighted average shares outstanding - diluted	77,535		76,185		73,941

(a) Basic net income or loss is calculated as total net income or loss, less amounts attributable to non-controlling interests. Diluted net income or loss is calculated as total net income or loss, less amounts attributable to non-controlling interests, adjusted for the fair value gain or loss, if any, related to additional contingent payments to the former owners of an acquired business for which the contingency has been resolved as of the respective period. See Note 3 - Acquisitions, Goodwill and Other Intangible Assets, Net, for additional information.

(b) Represents the fair value gain related to additional contingent payments for the year ended December 31, 2022, the effect of which was dilutive as of December 31, 2022. See Note 3 - Acquisitions, Goodwill and Other Intangible Assets, Net, for additional information.

(c) For the years ended December 31, 2023 and 2022, basic shares include approximately 88,000 and 127,000 weighted average shares, respectively, related to additional contingent payments.

(d) For the years ended December 31, 2023, 2022 and 2021, anti-dilutive common stock equivalents totaled approximately 1,100,000, 255,000 and 159,000, respectively, which, for the year ended December 31, 2022, included approximately 29,200 warrants associated with the Infrastructure and Energy Alternatives, Inc. (“IEA”) acquisition.

(e) For the year ended December 31, 2023, there were no weighted average common stock equivalents related to additional contingent payments to the former owners of an acquired business, whereas for the year ended December 31, 2022, such weighted average common stock equivalents totaled approximately 105,000.

Business, Basis of Presentation and Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Business, Basis of Presentation and Significant Accounting Policies	Business, Basis of Presentation and Significant Accounting Policies Nature of the Business MasTec, Inc. (collectively with its subsidiaries, “MasTec,” or the “Company”) is a leading infrastructure construction company operating mainly throughout North America across a range of industries. The Company’s primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy, utility and other infrastructure, such as: wireless, wireline/fiber and customer fulfillment activities; power delivery infrastructure, including transmission, distribution, environmental planning and compliance; power generation infrastructure, primarily from clean energy and renewable sources; pipeline infrastructure, including for natural gas, water and carbon capture sequestration pipelines and pipeline integrity services; heavy civil and industrial infrastructure, including roads, bridges and rail; and environmental remediation services. MasTec’s customers are primarily in these industries. MasTec reports its results under five reportable segments: (1) Communications; (2) Clean Energy and Infrastructure; (3) Power Delivery; (4) Oil and Gas and (5) Other. Principles of Consolidation The accompanying consolidated financial statements include MasTec, Inc. and its subsidiaries and include the accounts of all majority owned subsidiaries over which the Company exercises control and, when applicable, entities in which the Company has a controlling financial interest. All significant intercompany balances and transactions have been eliminated in consolidation. Other parties’ interests in entities that MasTec consolidates are reported as non-controlling interests within equity, except for mandatorily redeemable non-controlling interests, which are recorded within other liabilities. Net income or loss attributable to non-controlling interests is reported as a separate line item below net income or loss. Investments in entities for which the Company does not have a controlling financial interest, but over which it has the ability to exert significant influence, are accounted for under 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 appropriate, prior year amounts are 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. For foreign operations for which the local currency is not the functional currency, the operation’s non-monetary assets are remeasured into U.S. dollars at historical exchange rates. All other accounts are remeasured at current exchange rates. Gains or losses from remeasurement are included in other income or expense, net. Currency gains or losses resulting from transactions executed in currencies other than the functional currency are included in other income or expense, net. In these consolidated financial statements, “$” means U.S. dollars unless otherwise noted. Management Estimates The preparation of consolidated financial statements in accordance with U.S. GAAP requires the use of estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. These estimates are based on historical experience and various other assumptions that management believes to be reasonable under the circumstances, including the potential future effects of macroeconomic trends and events, such as inflation and interest rate levels; uncertainty from potential market volatility; other market, industry and regulatory factors, including uncertainty related to the implementation and pace of governmental programs and initiatives and project permitting issues, and other regulatory matters or uncertainty; supply chain disruptions; climate-related matters; global events, such as military conflicts; and public health matters. These estimates form the basis for making judgments about the Company’s operating results and the carrying values of assets and liabilities that are not readily apparent from other sources. While management believes that such estimates are reasonable when considered in conjunction with the Company’s consolidated financial position and results of operations taken as a whole, actual results could differ materially from these estimates if conditions change or if certain key assumptions used in making these estimates ultimately prove to be inaccurate. 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 goodwill and intangible assets, long-lived and other assets, equity investments, financial instruments, acquisition-related liabilities, including contingent consideration, other liabilities and debt obligations; asset lives used in computing depreciation and amortization; self-insurance liabilities; allowances for credit losses; certain other accruals and allowances; income taxes; and the estimated effects of litigation and other contingencies. General Economic, Market and Regulatory Conditions The Company has experienced, and may continue to experience, direct and indirect negative effects on its business and operations from economic, market, and regulatory conditions, including the current level of interest rates; inflationary effects on the costs of labor, materials and fuel; supply chain disruptions; uncertainty related to the implementation and pace of spending under governmental programs and initiatives related to infrastructure and other industrial investment, delays and uncertainty related to project permitting and/or other regulatory matters or uncertainty; climate, environmental and sustainability-related matters; changes in technology, tax and other incentives; potential market volatility that could negatively affect demand for future projects, and/or delay existing project timing or cause increased project costs; and public health matters. Additionally, the effects of ongoing and recent geopolitical events, such as the political unrest and military conflicts in the Middle East and Ukraine, could potentially increase volatility and uncertainty in the energy and capital markets, which could delay projects and/or negatively affect demand for future projects. The extent to which these conditions could affect the Company’s business, operations and financial results is uncertain as it will depend upon numerous evolving factors that management may not be able to accurately predict, and, therefore, any future impacts on the Company’s business, financial condition and/or results of operations cannot be quantified or predicted with specificity. Significant Accounting Policies 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 when, or as, control of promised services and goods is transferred to customers. The amount of revenue recognized reflects the consideration to which the Company expects to be entitled in exchange for the services and goods transferred. The Company primarily recognizes revenue over time utilizing the cost-to-cost measure of progress, which best depicts the continuous transfer of control of goods or services to the customer, and correspondingly, when performance obligations are satisfied for the related contracts. Contracts. The Company derives revenue primarily from construction projects performed under: (i) master service and other service agreements, which generally provide a menu of available services in a specific geographic territory that are utilized on an as-needed basis, and are typically priced using either a time and materials or a fixed price per unit basis; and (ii) contracts for specific projects requiring the construction and installation of an entire infrastructure system, or specified units within an infrastructure system, which may be subject to one or 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 40%, 51% and 38% of consolidated revenue for the years ended December 31, 2023, 2022 and 2021, respectively. 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, which is an input method. 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, revenue is recognized at a point in time, primarily for install-to-the-home and certain other wireless services in the Company’s Communications segment, and to a lesser extent, certain revenue in the Company’s Clean Energy and Infrastructure and Oil and Gas segments. Point in time revenue is recognized when the work order has been fulfilled, which for the majority of the Company’s point in time revenue, is the same day it is initiated. Point in time revenue accounted for approximately 2% of consolidated revenue for the year ended December 31, 2023, and accounted for approximately 4% of consolidated revenue in both of the years ended December 31, 2022 and 2021. 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 primarily based on the professional knowledge and experience of the Company’s project managers, operational and financial professionals, and other professional expertise, as warranted. 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 the estimated amount and probability of 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 the amount of revenue recognized in the period in which the revisions are determined, which revisions 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 based on management’s estimates. In each of the years ended December 31, 2023, 2022 and 2021, project profit was affected by less than 5% as a result of changes in contract estimates included in projects that were in process as of December 31, 2022, 2021 and 2020. Changes in recognized revenue, net, as a result of changes in total contract transaction price estimates, including from variable consideration, and/or changes in cost estimates, related to performance obligations satisfied or partially satisfied in prior periods, for the years ended December 31, 2023, 2022 and 2021 positively affected revenue by approximately 0.2%, 0.1% and 0.5%, respectively. The Company may incur certain costs that can be capitalized, such as initial set-up or mobilization costs. Such capitalized costs, which are amortized over the life of the respective projects, were not material as of December 31, 2023 or 2022. 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 contracts for specific projects, 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 and certain other contracts and services, work orders are billed and paid as completed. Amounts billed and due from customers, as well as the value 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. 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 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 specific 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, 2023, the amount of the Company’s remaining performance obligations was $7.7 billion. Based on current expectations, the Company anticipates it will recognize approximately $5.2 billion of its remaining performance obligations as revenue during 2024, with the remainder expected to be recognized primarily in 2025. 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 specific discussions, correspondence or preliminary negotiations and past practices with the customer, engineering studies and legal advice 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 recognized as an adjustment to revenue, typically 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, 2023 and 2022, the Company included in its contract transaction prices approximately $194 million and $271 million, respectively, of change orders and/or claims for certain contracts that were in the process of being resolved in the ordinary course of its business, including through negotiation, arbitration and other proceedings. These transaction price adjustments, when earned, are included within contract assets or accounts receivable, net of allowance, as appropriate. As of both December 31, 2023 and 2022, these change orders and/or claims primarily related to certain projects in the Company’s Clean Energy and Infrastructure and Power Delivery segments, and as of December 31, 2022, included amounts related to the Company’s 2022 acquisitions. 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 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; and the existence of payment bonds and other sources of payment, among other factors. 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 a specific 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 instrument portfolio, developing trends, including changes in management’s expectations of future economic, industry or other conditions and/or changes in credit quality or unanticipated financial difficulties affecting the Company’s customers. In addition, if anticipated recoveries in existing work-out negotiations or bankruptcies 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 the potential effects of trends in end-market volatility and/or other macroeconomic factors on the credit quality of the Company’s customers and/or its financial assets, such as the current market environment of elevated interest rates and inflation. Inventories Inventories primarily 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. Cash and Cash Equivalents Cash and cash equivalents consist primarily of interest-bearing demand deposits. The Company considers highly liquid investments with original maturities of less than three months to be cash equivalents. The balances in certain of the Company’s bank accounts exceed federally insured limits. Cash and cash equivalents are maintained at financial institutions that management considers to be of high credit quality. 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, 2023 and 2022 are amounts held by entities that are proportionately consolidated totaling $38.1 million and $25.7 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 material compensating balance requirements associated with the Company’s depository accounts or other restrictions on the transfer of cash associated with the Company’s depository accounts. Fair Value of Financial Instruments The Company’s financial instruments are primarily composed of cash and cash equivalents, accounts receivable and contract assets, notes receivable, cash collateral deposited with insurance carriers, life insurance assets, equity investments, certain other assets and investments, deferred compensation plan assets and liabilities, accounts payable and other current liabilities, acquisition-related contingent consideration and other liabilities, and debt obligations. Fair value is the price that would be received to sell an asset or the amount paid to transfer a liability, also referred to as the “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 and contract assets, accounts payable and other current liabilities approximate their fair values, and management also believes that the carrying values of notes and other receivables, cash collateral deposited with insurance carriers and outstanding balances on the Company’s credit and term loan facilities approximate their fair values, based on their specific asset and/or liability characteristics, including having terms consistent with current market conditions. 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. 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 that VIE would be consolidated, with the other parties’ interests in the VIE accounted for as non-controlling interests. The primary beneficiary consolidating a 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, 2023, 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 carrying values of the Company’s VIEs totaled approximately $23 million and $24 million as of December 31, 2023 and 2022, respectively, which amounts are recorded within other long-term assets in the consolidated balance sheets. Management believes that the Company’s maximum exposure to loss for its VIEs, inclusive of additional financing commitments, approximated $35 million and $37 million as of December 31, 2023 and 2022, respectively. 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 the Company’s 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 in the Company’s consolidated balance sheets. 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 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, which is referred to as the “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, which are recognized in other income or expense, as appropriate, were based on Level 3 inputs for the year ended December 31, 2023, and, for the year ended December 31, 2022, were based on Level 1 and 2 inputs. 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 Company’s senior unsecured credit facility. Deferred financing costs are amortized over the terms of the related debt instruments using the effective interest method. Deferred financing costs, net of accumulated amortization, totaled $13.5 million and $17.6 million as of December 31, 2023 and 2022, respectively. Amortization expense associated with deferred financing costs, which is included within interest expense, net, totaled $4.1 million, $3.6 million and $3.2 million for the years ended December 31, 2023, 2022 and 2021, respectively. For the years ended December 31, 2022 and 2021, the Company deferred $2.8 million and $6.0 million, respectively, of financing costs in connection with its debt instruments. For further information pertaining to the Company’s debt instruments, see Note 7 - Debt. Other Long-Term Assets Other long-term assets consist primarily of investments in unconsolidated entities, life insurance assets, deferred compensation plan assets and miscellaneous receivables. 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 is 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 equipment, furniture and internal-use software. 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. Gains or losses, net, from the sale of property and equipment are included within general and administrative expenses. 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, which are Level 3 inputs. During the three years in the period ended December 31, 2023, 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. See below for details of the Company’s impairment testing for the years ended December 31, 2023, 2022 and 2021. 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. Management reassessed the reporting unit structure of its Clean Energy and Infrastructure operating segment in the fourth quarter of 2023. As a result of this assessment, the reporting units within the Clean Energy and Infrastructure operating segment were restructured to more closely align with the segment’s end markets, including from the effects of the Company’s recent transformative acquisition efforts, and to better correspond with the management reporting structure of the segment. Under the new reporting unit structure, each of the reporting units within the Clean Energy and Infrastructure operating segment is a component, which is consistent with its previous reporting unit structure. Based on management’s review of its components and their related operations, the Company combines three of the components of its Power Delivery operating segment into one reporting unit. All of the Company’s other reporting units are each composed of one component. During each of the three years in the period ended December 31, 2023, 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, including: levels of inflation, market interest rates and/or supply chain disruptions; industry and/or market conditions, including the potential effects of regulatory and other uncertainty, including uncertainty related to the implementation and pace of spending under governmental infrastructure programs and initiatives; project permitting uncertainty; financial, competitive and other conditions, including declines in the operating performance of our reporting units; entity-specific events; the potential effects of longer-term changes in consumer behavior due to regulatory, climate-related or other factors, 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 in the period ended December 31, 2023. Management estimated the fair values of the selected reporting units using a combination of market and income approaches using Level 3 inputs. 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, market and regulatory 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 applicable reporting units and within the units’ 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. 2023 Assessment. Quantitative testing was performed for (i) three reporting units within the Clean Energy and Infrastructure segment; (ii) one reporting unit in the Power Delivery operating segment; and (iii) one reporting unit within the Oil and Gas operating 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, including, as described above, the potential future effects of macroeconomic trends and events, industry, market and regulatory factors, climate-related or other factors, rates of success on new project awards and levels of operating activity. In 2023, significant assumptions used in testing the reporting units included terminal values based on a terminal growth rate of 3.0%, six to nine years of discounted cash flows prior to the terminal value, and discount rates ranging from 10.5% to 14.0%. Based on the results of the quantitative assessments, the estimated fair values of all of the tested reporting units 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 tested reporting units’ carrying values exceeding their fair values. In addition, quantitative testing was performed for the reporting units as determined under the previous structure of the Clean Energy and Infrastructure operating segment, as discussed above. Based on the results of this assessment, the estimated fair values of all reporting units under the previous reporting unit structure exceeded their carrying values. 2022 Assessment. In 2022, quantitative testing was performed for (i) one reporting unit within the Clean Energy and Infrastructure segment; (ii) one reporting unit in the Power Delivery operating segment; and (iii) four reporting units within the Oil and Gas operating 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, including the potential future effects of macroeconomic trends and events, such as inflation and interest rate levels, uncertainty from potential recessionary effects and climate-related matters; success rates on new project awards; and levels of operating activity. In 2022, significant assumptions used in testing the reporting units included terminal values based on a terminal growth rate of 3.0%, five to nine years of discounted cash flows prior to the terminal value, and a discount rate of 13.0%. Based on the results of the quantitative assessments, the estimated fair values of all but one reporting unit within the Oil and Gas operating segment were determined to substantially exceed their carrying values. One reporting unit in the Oil and Gas operating segment, which had approximately $37.5 million of goodwill, had an estimated fair value that exceeded its carrying value by approximately 14%. 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. 2021 Assessment. In 2021, quantitative testing was performed for (i) three reporting units in the Communications operating segment; (ii) one reporting unit within the Clean Energy and Infrastructure operating segment; and (iii) four reporting units within the Oil and Gas operating 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 2021, significant assumptions used in testing the reporting units included terminal values based on terminal growth rates of 2.5% to 3.0%, five to nine years of discounted cash flows prior to the terminal value, and discount rates ranging from 10.5% to 15.0%. Based on the results of the quantitative assessments, the estimated fair values of all of the reporting units 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. As of December 31, 2023 and 2022, 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 analyses, such as a reduction in profitability and/or cash flows, changes in market, regulatory or other conditions, including decreases in project activity levels and/or the effects of elevated levels of inflation, interest rates or other regulatory or market disruptions, including from geopolitical events and/or changes in asset characteristics, could result in non-cash impairment charges to goodwill and/or intangible assets in the future. 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 approximate fair value. Goodwill is the amount by which consideration paid for an acquired entity exceeds the fair value of its acquired net assets. A bargain purchase gain results when the fair value of an acquired entity’s net assets exceeds its purchase price, and is recorded within other income in the consolidated statements of operations. Acquisition costs are expensed as incurred and are included within general and administrative expenses in the consolidated statements of operations. For the years ended December 31, 2023, 2022 and 2021, the Company incurred approximately $3 million, $17 million and $7 million, respectively, of acquisition costs associated with its completed acquisitions. 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 from the date of acquisition 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 of, or an adjustment to the fair values of, acquisition-related assets and liabilities and/or consideration paid, and are referred to as “measurement period” adjustments. Measurement period adjustments are recorded to goodwill. Other revisions to fair value estimates, including those relating to facts and circumstances that occur subsequent to the date of acquisition, are reflected as income or expense, as appropriate. Consideration paid generally consists of cash and, from time to time, shares of our common stock, 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 certain of the Company’s recent acquisitions, as described in Note 3 - Acquisitions, Goodwill and Other Intangible Assets, Net, the acquisition consideration included shares of the Company’s common stock, as determined based upon the terms of the purchase agreement. These shares were valued for financial reporting purposes based on the market share price of MasTec’s common stock on the date of closing. Additionally, a prior year acquisition included a mandatorily redeemable non-controlling interest that was subject to a repurchase formula consistent with the Company’s traditional earn-out arrangements. In 2023, the Company acquired the remaining interests of this entity. 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. For the mandatorily redeemable non-controlling interest, such changes were recorded within interest expense or other income, as appropriate. Fair values of Earn-out liabilities are estimated using income approaches such as discounted cash flows or option pricing models, which are Level 3 inputs. 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 statements 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 certain 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. The volume of lease activity for leases with an initial term of twelve months or less varies depending upon the number of ongoing projects at a given time, as well as the location and type of equipment required in connection with those projects. 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, equipment and other leasing arrangements, which are not considered material to the consolidated financial statements. As of December 31, 2023, the Company’s leases have remaining lease terms of up to 15 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 needs 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 general and administration expenses. 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 and $10.0 million for each of its general liability and automobile liability policies. In addition, the Company also maintains excess umbrella coverage. The Company manages certain of its insurance liabilities indirectly through its wholly-owned captive insurance company, which reimburses claims up to the applicable insurance limits. Cash balances held by the Company’s captive insurance company are generally not available for use in the Company’s other operations. Estimated liabilities under the Company’s 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 or an incident, 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 or management 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 Company’s 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 its tax returns are accurate 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. 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 years ended December 31, 2023, 2022 and 2021, shares withheld in connection with stock-based compensation arrangements totaled 118,636, 49,418 and 63,054, respectively, and related payments to taxing authorities totaled $10.3 million, $4.1 million and $6.0 million, respectively. The Company has certain employee stock purchase plans (collectively, “ESPPs”) under which shares of the Company’s common stock are available for purchase by eligible participants. Under the ESPPs, eligible participants are permitted to purchase MasTec, Inc. common stock at 85% of the fair market value of the shares on the date of purchase, which occurs on the last trading day of each two week offering period. At the Company’s discretion, share purchases may be satisfied by delivering either newly issued common shares, or common shares reacquired on the open market or in privately negotiated transactions. 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 are assessed on a “pay-as-you-go” basis based on union employee payrolls. The Pension Protection Act of 2006, as amended (the “PPA”), requires underfunded pension plans 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 Internal Revenue Service (the “IRS”) can 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 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. 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. Business Streamlining and 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 acquisition and 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 business streamlining costs, acquisition and integration costs, or restructuring charges, as appropriate, based on the nature of the associated activities, can include such items as employee separation or termination costs, other integration-type costs, including facility consolidation and lease termination expenses, operating cost redundancies, losses on disposal of identified assets and system migration expenses, among other integration-type costs, and certain acquisition-related costs, including legal, professional and other fees associated with the consummation of the related acquisitions. 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 activities, they are referred to as restructuring costs, or, when acquisition-related, as acquisition and integration costs. Business streamlining costs, acquisition and integration costs, and/or restructuring charges are included within the applicable line items in the consolidated statement of operations based on the nature of the expenses 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. Costs incurred for litigation are expensed as incurred. 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 the recent accounting pronouncements discussion below for information pertaining to the effects of recently adopted and other recent accounting pronouncements. Accounting Pronouncements Adopted in 2023 The Company adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (“ASU 2021-08”) in the first quarter of 2023. ASU 2021-08, which was issued to improve consistency for revenue recognition in the post-acquisition period for acquired contracts as compared to contracts entered into subsequent to acquisition, requires an acquirer to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606, Revenue from Contracts with Customers, rather than at fair value. The adoption of ASU 2021-08 did not have a material effect on the Company’s consolidated financial statements. Accounting Pronouncements to be Adopted in 2024 In March 2023, the FASB issued ASU 2023-01, Leases (Topic 842): Common Control Arrangements (“ASU 2023-01”) to improve the guidance for applying Topic 842, Leases, to arrangements between entities under common control. ASU 2023-01 improves current GAAP by clarifying the accounting for leasehold improvements associated with common control leases, thereby reducing diversity in practice. The provisions of this ASU that apply to public companies include a requirement for entities to amortize leasehold improvements associated with common control leases over the useful life of the common control group. ASU 2023-01 is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2023, with early adoption permitted. The Company does not expect that this ASU will have a material effect on the Company’s consolidated financial statements. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”) to enhance segment reporting disclosures. ASU 2023-07 requires disclosure of significant segment expenses that are regularly provided to the chief operating decision maker (CODM) and included within each reported measure of segment profit or loss, as well as disclosure of the total amount and description of other segment items by reportable segment. This ASU also requires disclosure of the title and position of the CODM and an explanation of how the CODM uses the reported measures of segment profit or loss in assessing segment performance and deciding how to allocate resources. All disclosures about a reportable segment’s profit or loss and assets that are currently required on an annual basis under Segment Reporting (Topic 280) will also be required for interim periods under ASU 2023-07. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024, with retrospective application. Early adoption is permitted. The Company is currently evaluating the effect of this ASU on its segment disclosures. Other Recently Issued Accounting Pronouncements In August 2023, the FASB issued ASU 2023-05, Business Combinations—Joint Venture Formations (Subtopic 805-60): Recognition and Initial Measurement (“ASU 2023-05”). ASU 2023-05, which clarifies existing guidance to reduce diversity in practice, addresses the accounting for contributions made to a joint venture upon formation, in a joint venture’s separate financial statements. The provisions of this ASU require that a joint venture initially measure all contributions received upon its formation at fair value, largely consistent with Topic 805, Business Combinations. The amendments in this ASU are not applicable to the formation of proportionately consolidated joint ventures. ASU 2023-05 is effective prospectively for all joint ventures with a formation date on or after January 1, 2025, with early adoption permitted on a retrospective basis for joint ventures formed before January 1, 2025. The Company is currently evaluating the effects of this ASU. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”) to enhance transparency and decision usefulness of income tax disclosures. ASU 2023-09 requires greater standardization and disaggregation of categories within an entity’s tax rate reconciliation disclosure, as well as disclosure of income taxes paid by jurisdiction, among other requirements. ASU 2023-09 is effective for annual periods beginning after December 15, 2024, with early adoption permitted. ASU 2023-09 is effective on a prospective basis, with retrospective application permitted. The Company is currently evaluating the effects of this ASU on its income tax disclosures.

Debt - 4.50% Senior Notes (Details) - USD ($)	19 Months Ended	96 Months Ended
Debt - 4.50% Senior Notes (Details) - USD ($)	Aug. 15, 2023	Aug. 15, 2028	Dec. 31, 2023	Dec. 31, 2022	Aug. 04, 2020
Debt Instrument [Line Items]
Long-term debt obligations				$ 0
Senior Notes \| 4.50% Senior Notes
Debt Instrument [Line Items]
Debt instrument, interest rate (percentage)			4.50%
Long-term debt obligations			$ 600,000,000.0	$ 600,000,000.0	$ 600,000,000
Debt instrument, change of control, redemption price, percent	101.00%
Senior Notes \| 4.50% Senior Notes \| Forecast
Debt Instrument [Line Items]
Debt instrument, minimum percentage of principal required to redeem in the event of default		30.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Debt

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Debt

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


		December 31,
Description	Maturity Date	2023		2022
Senior credit facility:	November 1, 2026
Revolving loans		$	773.0	$	896.0
Term loan		341.3		350.0
4.50% Senior Notes	August 15, 2028	600.0		600.0
6.625% Senior Notes	August 15, 2029	284.2		281.2
2022 Term Loan Facility	October 7, 2025 and October 7, 2027	700.0		700.0
Finance lease and other obligations		380.3		414.5
Total debt obligations		$	3,078.8	$	3,241.7
Less unamortized deferred financing costs		(13.5)		(17.6)
Total debt, net of deferred financing costs		$	3,065.3	$	3,224.1
Current portion of long-term debt		177.2		171.9
Long-term debt		$	2,888.1	$	3,052.2

Senior Credit Facility

The Company maintains a $2.25 billion senior unsecured credit facility (the “Credit Facility”), which is composed of $1.9 billion of revolving commitments and a term loan with an original principal amount of $350.0 million (the “Term Loan”). Borrowings under the Credit Facility will be used for working capital requirements, capital expenditures and other corporate purposes, including potential acquisitions, equity investments or other strategic arrangements, and/or the repurchase or prepayment of indebtedness, among other corporate borrowing requirements, including potential share repurchases. The Term Loan is subject to amortization in quarterly principal installments of approximately $2.2 million, which quarterly installments increase to approximately $4.4 million in March 2025 until maturity. Quarterly principal installments on the Term Loan are subject to adjustment, if applicable, for certain prepayments. As of December 31, 2023 and 2022, the fair values of the Credit Facility and Term Loan, as estimated based on an income approach, utilizing significant unobservable Level 3 inputs including discount rate assumptions, approximated their carrying values.

The Credit Facility allows the Company to borrow up to an aggregate equivalent amount of $300 million in revolving advances in either Canadian dollars and/or Mexican pesos. 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, as defined in the Credit Facility. Subject to certain limitations described in the Credit Facility, these additional term loan tranches may have terms and pricing that differ from the Credit Facility.

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) Term SOFR, as defined in the Credit Facility, plus a margin of 1.125% to 1.625%, or (b) a Base Rate, as defined in the Credit Facility, plus a margin of 0.125% to 0.625%. The Base Rate equals the highest of (i) the Federal Funds Rate, as defined in the Credit Facility, plus 0.50%, (ii) Bank of America’s prime rate, and (iii) Term SOFR 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 ranging from 1.125% to 1.625%, and performance standby letters of credit issued under the Credit Facility are subject to a letter of credit fee ranging from 0.3125% to 0.6875%. The Company must also pay a commitment fee to the lenders ranging from 0.150% to 0.225% 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.

Revolving loans accrued interest at weighted average rates of approximately 7.71% and 5.82% per annum as of December 31, 2023 and 2022, respectively. The Term Loan accrued interest at rates of 7.08% and 5.80% as of December 31, 2023 and 2022, respectively. Letters of credit of approximately $64.9 million and $143.1 million were issued as of December 31, 2023 and 2022, respectively. As of December 31, 2023 and 2022, letter of credit fees accrued at 0.6875% and 0.5625% per annum, respectively, for performance standby letters of credit, and for financial standby letters of credit, accrued at 1.625% and 1.375% per annum, respectively. Outstanding letters of credit mature at various dates and most have automatic renewal provisions, subject to prior notice of cancellation. As of December 31, 2023 and 2022, availability for revolving loans totaled $1,062.1 million and $860.9 million, respectively, or up to $585.1 million and $506.9 million, respectively, for new letters of credit. There were no outstanding revolving borrowings denominated in foreign currencies as of either December 31, 2023 or 2022. The unused facility fee as of December 31, 2023 and 2022 accrued at rates of 0.225% and 0.200% per annum, respectively.

The Credit Facility requires that the Company maintain a maximum Consolidated Leverage Ratio, as defined in the Credit Facility, of not more than 3.50 as of the end of any fiscal quarter, 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 at least 3.00. Additionally, 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 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 Company’s ability to engage in certain activities, including, but not limited to, acquisitions, mergers and consolidations, debt incurrence, investments, asset sales, debt prepayments, lien incurrence and the making of distributions or repurchases of the Company’s capital stock. However, distributions payable solely in common stock are permitted. 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.

Other Credit Facilities. The Company has other credit facilities that support the working capital requirements of its foreign operations and 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. Maximum borrowing capacity under these credit facilities totaled Canadian $20.0 million as of both December 31, 2023 and 2022, or approximately $15.1 million and $14.8 million, respectively. There were no outstanding borrowings under the Company’s other credit facilities as of either December 31, 2023 or 2022. 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, 2023 and 2022, letters of credit issued under this facility totaled $17.2 million and $23.6 million, respectively, which accrued fees at 0.90% and 0.75% per annum, respectively. The Company’s other credit facilities are subject to customary provisions and covenants.

4.50% Senior Notes

The Company has $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”), which were issued at par in a private offering. Interest on the 4.50% Senior Notes is payable semiannually in arrears on February 15 and August 15 of each year.

The Company has the option to redeem all or a portion of the 4.50% Senior Notes 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. If a change of control, as defined in the 4.50% Senior Notes Indenture, occurs, 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 to create liens and effect mergers, subject to certain exceptions. 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.

6.625% Senior Notes

The Company has $300.0 million aggregate principal amount of 6.625% Senior Notes, which notes are composed of (i) $225.1 million aggregate principal amount of 6.625% IEA senior notes (the “6.625% IEA Senior Notes”), with a carrying value of $213.3 million and $211.1 million as of December 31, 2023 and 2022, respectively, and (ii) $74.9 million aggregate principal amount of 6.625% MasTec senior notes (the “6.625% MasTec Senior Notes”), with a carrying value of $70.9 million and $70.1 million as of December 31, 2023 and 2022, respectively. Interest on the 6.625% Senior Notes is payable semiannually in arrears on February 15 and August 15 of each year.

The 6.625% IEA Senior Notes were issued by IEA Energy Services LLC (the “IEA Issuer”), a wholly-owned subsidiary of IEA, in a private placement pursuant to an indenture, dated as of August 17, 2021 (the “IEA Senior Notes Indenture”). The 6.625% MasTec Senior Notes were issued in October 2022 in a private exchange offer and consent solicitation to certain holders of the 6.625% IEA Senior Notes, pursuant to an indenture (the “6.625% MasTec Senior Notes Indenture”). The exchange of the 6.625% IEA Senior Notes for the 6.625% MasTec Senior Notes was accounted for as a debt modification, whereby the carrying value of the 6.625% MasTec Senior Notes was determined based on the pro-rata acquisition date carrying value of the 6.625% IEA Senior Notes, plus applicable accretion as of the date of the exchange.

The 6.625% IEA Senior Notes are structurally subordinated to all indebtedness and other liabilities, including trade payables, of the IEA Issuer’s subsidiaries and are effectively subordinated to any secured indebtedness of the IEA Issuer, to the extent of the value of the collateral securing such indebtedness. The 6.625% MasTec Senior Notes are general senior unsecured obligations of the Company, and rank equal in right of payment with all of the Company’s existing and future senior unsecured indebtedness and senior in right of payment to any of the Company’s future subordinated indebtedness. The 6.625% MasTec Senior Notes are effectively subordinated to all secured indebtedness of the Company to the extent of the value of the assets securing such indebtedness and are structurally subordinated to all obligations of the subsidiaries of the Company, including trade payables and the 6.625% IEA Senior Notes.

At any time prior to August 15, 2024, some or all of the 6.625% Senior Notes may be redeemed by the Company or the IEA Issuer, as applicable, at a price equal to 100% of the principal amount, plus a “make-whole premium,” together with accrued and unpaid interest, if any, to, but not including, the date of redemption, subject to the right of holders of notes on the relevant record date to receive interest due on the relevant interest payment date. In addition, at any time prior to August 15, 2024, up to 40% of the aggregate principal amount of the 6.625% Senior Notes may be redeemed by the Company or the IEA Issuer, as applicable, with the proceeds of certain equity offerings at a redemption price of 106.625% of the principal amount of the 6.625% Senior Notes, together with accrued and unpaid interest, if any, to, but not including, the date of redemption, subject to the right of holders of notes on the relevant record date to receive interest due on the relevant interest payment date, subject to certain conditions. On or after August 15, 2024, the 6.625% IEA Senior Notes are subject to redemption at any time and from time to time at the option of the IEA Issuer, in whole or in part, at specified redemption prices, expressed as percentages of principal amount, of 103.3% declining over a two-year period to 100%, subject to the right of holders of notes on the relevant record date to receive interest due on the relevant interest payment date. On or after August 15, 2024, the Company has the option, at any time and from time to time, to redeem all or a portion of the 6.625% MasTec Senior Notes at the redemption prices specified in the 6.625% MasTec Senior Notes Indenture, plus accrued and unpaid interest, if any, to, but not including, the redemption date, subject to the right of holders of notes on the relevant record date to receive interest due on the relevant interest payment date.

The 6.625% IEA Senior Notes Indenture, among other things, generally limits the IEA Issuer’s ability to incur additional indebtedness; pay dividends or make other restricted payments; make loans and investments; incur liens; sell assets; enter into affiliate transactions; enter into certain sale and leaseback transactions; enter into agreements restricting the IEA Issuer’s subsidiaries’ ability to pay dividends; and merge, consolidate, convey, transfer or lease all or substantially all of its assets, subject to certain thresholds and exceptions. Certain of such limitations are suspended for so long as the 6.625% IEA Senior Notes are rated “investment grade” by at least two nationally recognized statistical rating agencies, subject to certain conditions. In October 2022, following the acquisition of IEA by MasTec, the 6.625% IEA Senior Notes were rated as investment grade by at least two nationally recognized ratings agencies and, as a result, the aforementioned covenants were suspended. The 6.625% MasTec Senior Notes Indenture, among other things, generally limits the ability of the Company and certain of its subsidiaries, subject to certain exceptions, to create certain liens, and to effect mergers, consolidate or transfer all or substantially all of its assets, subject to certain thresholds and exceptions.

The 6.625% IEA Senior Notes Indenture provides for customary events of default which include, subject in certain cases to customary grace and cure periods, among others, nonpayment of principal or interest; breach of other covenants or agreements in the 6.625% IEA Senior Notes Indenture; failure to pay certain other indebtedness; failure to pay certain final judgments; failure of certain guarantees to be enforceable; and certain events of bankruptcy or insolvency. The 6.625% MasTec Senior Notes Indenture provides for customary events of default, which include, subject, in certain cases, to customary grace and cure periods, among others, nonpayment of principal or interest; breach of other covenants or agreements in the 6.625% MasTec Senior Notes Indenture; failure to pay certain other indebtedness; and certain events of bankruptcy or insolvency. Generally, if an event of default occurs and is continuing, the trustee or holders of at least 30% of the 6.625% MasTec Senior Notes then outstanding may declare the principal of, premium, if any, and accrued interest on all of the 6.625% MasTec Senior Notes immediately due and payable.

If a Change of Control, as defined in the 6.625% MasTec Senior Notes Indenture, occurs, or a Change of Control, as defined in the 6.625% IEA Senior Notes Indenture, occurs, the Company or the IEA Issuer, as applicable, must make an offer to repurchase all of the 6.625% MasTec Senior Notes or the 6.625% IEA Senior Notes, respectively, then outstanding at a price equal to 101% of their principal amount, plus accrued and unpaid interest, if any, to, but not including, the date of repurchase, subject, in the case of the 6.625% IEA Senior Notes, to certain conditions.

2022 Term Loan Facility

As of December 31, 2023, the Company has $700.0 million of unsecured term loans entered into in connection with the acquisition of IEA, composed of a three-year term loan of $400.0 million in principal amount (the “Three-Year Tranche”) maturing on October 7, 2025, and a five-year term loan of $300.0 million in principal amount (the “Five-Year Tranche”) maturing on October 7, 2027 (together, the “2022 Term Loan Facility”). The Three-Year Tranche is not subject to amortization. The Five-Year Tranche is subject to amortization in quarterly principal installments of approximately $3.75 million, commencing on March 31, 2024, which installment will increase to $7.5 million on March 31, 2026, until maturity, subject to the application of certain prepayments. The fair value of the 2022 Term Loan Facility as of December 31, 2023 and 2022, as estimated based on an income approach utilizing significant unobservable Level 3 inputs including discount rate assumptions, approximated its carrying value.

Outstanding loans under the Three-Year Tranche bear interest, at the Company’s option, at a rate equal to either (a) Term SOFR, as defined in the 2022 Term Loan Facility, plus a margin of 1.125% to 1.500%, or (b) a Base Rate, as defined below, plus a margin of 0.125% to 0.500%. Outstanding loans under the Five-Year Tranche bear interest, at the Company’s option, at a rate equal to either (a) Term SOFR plus a margin of 1.250% to 1.625%, or (b) a Base Rate, plus a margin of 0.250% to 0.625%. The Base Rate equals the highest of (i) the Federal Funds Rate, as defined in the New Term Loan Facility, plus 0.50%, (ii) Bank of America’s prime rate, and (iii) Term SOFR plus 1.00%. In each of the foregoing cases, the applicable margin is based on the Company’s Consolidated Leverage Ratio and Debt Rating, each as defined in the 2022 Term Loan Facility, as of the then most recent fiscal quarter. As of December 31, 2023 the Three-Year Tranche and Five-Year Tranche accrued interest at rates of 6.833% and 6.958%, respectively, and as of December 31, 2022, the Three-Year Tranche and Five-Year Tranche accrued interest at rates of 5.692% and 5.817%, respectively.

The obligations under the 2022 Term Loan Facility are unsecured and are not guaranteed by any of the Company or its subsidiaries. The 2022 Term Loan Facility requires the Company to maintain a Consolidated Leverage Ratio, as defined in the 2022 Term Loan Facility, of not more than 3.50 as of the end of any fiscal quarter, subject to the Acquisition Adjustment described below. The 2022 Term Loan Facility also requires the Company to maintain a Consolidated Interest Coverage Ratio, as defined in the Amended Credit Facility, of at least 3.00. The 2022 Term Loan Facility provides that, for purposes of calculating the Consolidated Leverage Ratio, funded indebtedness excludes undrawn standby performance letters of credit included in the calculation of Consolidated Funded Indebtedness, as defined in the 2022 Term Loan Facility. Notwithstanding the terms discussed above, subject to certain conditions, if a permitted acquisition or series of permitted acquisitions having consideration exceeding $100 million occurs during a fiscal quarter, the Consolidated Leverage Ratio may be temporarily increased to up to 4.00 during such fiscal quarter and the subsequent four fiscal quarters (the “Acquisition Adjustment”). Such right may be exercised no more than two times during the term of the 2022 Term Loan Facility. Subject to customary exceptions, the 2022 Term Loan Facility limits the borrowers’ ability to engage in certain activities, including but not limited to acquisitions, mergers and consolidations, debt incurrence, investments, asset sales, debt prepayments, lien incurrence and the making of distributions on or repurchases of capital stock. However, distributions payable solely in capital stock are permitted. The 2022 Term Loan Facility provides for customary events of default and carries cross-default provisions with the Company’s other significant debt instruments, including the Company’s indemnity agreement with its surety provider, as well as customary remedies, including the acceleration of repayment of outstanding amounts.

Selected Transaction Costs. In connection with the 2022 acquisition of IEA, the Company incurred approximately $2.9 million of fees and expenses for bridge term loan facility commitments, which commitments were subsequently terminated upon the Company having entered into the 2022 Term Loan Facility. The Company also incurred approximately $1.9 million of fees and expenses in connection with the above mentioned 6.625% MasTec Senior Notes debt exchange. These amounts are primarily reflected within acquisition and integration costs within other expense in the Company’s consolidated statements of operations for the year ended December 31, 2022.

Debt Covenants

MasTec was in compliance with the provisions and covenants of its outstanding debt instruments as of both December 31, 2023 and 2022.

Contractual Maturities of Debt

Contractual maturities of MasTec’s debt, which includes finance lease obligations, as of December 31, 2023 were as follows (in millions):


2024	$	177.2
2025	558.0
2026	1,185.9
2027	268.7
2028	604.1
Thereafter	284.9
Total	$	3,078.8

As of December 31, 2023 and 2022, accrued interest payable, which is recorded within other accrued expenses in the consolidated balance sheets, totaled $24.1 million and $24.8 million, respectively.

Segments and Related Information - Schedule of Financial Information by Reportable Segment - Capital Expenditures (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Capital Expenditures:
Consolidated capital expenditures	$ 192,941	$ 263,352	$ 170,066
Reportable Segments \| Communications
Capital Expenditures:
Consolidated capital expenditures	29,500	87,100	50,600
Reportable Segments \| Clean Energy and Infrastructure
Capital Expenditures:
Consolidated capital expenditures	30,900	35,800	44,600
Reportable Segments \| Oil and Gas
Capital Expenditures:
Consolidated capital expenditures	76,000	49,000	55,700
Reportable Segments \| Power Delivery
Capital Expenditures:
Consolidated capital expenditures	50,800	83,400	13,000
Reportable Segments \| Other
Capital Expenditures:
Consolidated capital expenditures	0	0	0
Corporate
Capital Expenditures:
Consolidated capital expenditures	$ 5,700	$ 8,000	$ 6,200

Acquisitions, Goodwill and Other Intangible Assets, Net (Tables)

12 Months Ended

Dec. 31, 2023

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		Power Delivery		Oil and Gas		Total Goodwill
Goodwill, gross, as of December 31, 2021	$	614.5	$	166.1	$	303.4	$	561.3	$	1,645.3
Accumulated impairment loss (a)	—		—		—		(124.7)		(124.7)
Goodwill, net, as of December 31, 2021	$	614.5	$	166.1	$	303.4	$	436.6	$	1,520.6
Additions from new business combinations	3.0		535.2		1.9		4.6		544.7
Measurement period adjustments (b)	(11.4)		2.0		(35.2)		25.3		(19.3)
Currency translation adjustments	—		—		—		(1.0)		(1.0)
Goodwill, net, as of December 31, 2022	$	606.1	$	703.3	$	270.1	$	465.5	$	2,045.0
Additions from new business combinations	41.4		—		—		—		41.4
Measurement period adjustments (c)	(0.6)		38.7		0.7		0.8		39.6
Currency translation adjustments	—		—		—		0.4		0.4
Goodwill, net, as of December 31, 2023	$	646.9	$	742.0	$	270.8	$	466.7	$	2,126.4
Accumulated impairment loss (a)	—		—		—		(119.3)		(119.3)
Goodwill, gross, as of December 31, 2023	$	646.9	$	742.0	$	270.8	$	586.0	$	2,245.7

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

Schedule of Finite-Lived Intangible Assets

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


	Other Intangible Assets, Net
	Customer Relationships and Backlog		Trade Names (a)		Other (b)		Total
Other intangible assets, gross, as of December 31, 2021	$	763.1	$	140.1	$	92.9	$	996.1
Accumulated amortization	(278.0)		(15.6)		(32.2)		(325.8)
Other intangible assets, net, as of December 31, 2021	$	485.1	$	124.5	$	60.7	$	670.3
Additions from new business combinations	272.0		95.8		0.3		368.1
Measurement period adjustments (c)	56.0		(6.9)		(3.6)		45.5
Currency translation adjustments	—		—		(1.7)		(1.7)
Amortization expense	(112.5)		(13.4)		(10.0)		(135.9)
Other intangible assets, net, as of December 31, 2022	$	700.6	$	200.0	$	45.7	$	946.3
Additions from new business combinations	6.7		0.1		—		6.8

Currency translation adjustments	—		—		0.4		0.4
Amortization expense	(140.0)		(20.9)		(8.3)		(169.2)
Other intangible assets, net, as of December 31, 2023	$	567.3	$	179.2	$	37.8	$	784.3
Remaining weighted average amortization, in years	13		13		9		13

(a) Includes approximately $34.5 million of non-amortizing trade names as of each of December 31, 2023, 2022 and 2021.

(b) Consists principally of pre-qualifications and non-compete agreements.

Schedule of Expected Future Amortization Expense

Expected future amortization expense as of December 31, 2023 is summarized in the following table (in millions):


	Amortization Expense
2024	$	133.6
2025	109.8
2026	90.8
2027	81.8
2028	68.8
Thereafter	265.0
Total	$	749.8

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes, as of December 31, 2023, the estimated fair values of the consideration paid and net assets acquired, as adjusted, for the Company’s 2022 acquisitions (in millions):


Acquisition consideration:	IEA		All other		Total
Cash, net of cash acquired	$	564.5	$	48.7	$	613.2
Shares transferred	173.7		—		173.7
Estimated fair value of warrants	10.3		—		10.3
Estimated fair value of contingent consideration	—		2.8		2.8
Total consideration	$	748.5	$	51.5	$	800.0
Identifiable assets acquired and liabilities assumed:
Accounts receivable and contract assets	$	570.0	$	6.1	$	576.1
Current assets	34.5		1.6		36.1
Property and equipment	222.5		30.1		252.6
Long-term assets, primarily operating lease right-of-use assets	40.6		0.3		40.9
Amortizing intangible assets	362.2		5.9		368.1
Accounts payable	(136.5)		(4.6)		(141.1)
Contract liabilities	(151.3)		(1.5)		(152.8)
Current liabilities, primarily accrued expenses	(326.2)		(1.4)		(327.6)
Long-term debt, including finance lease obligations	(330.8)		(0.2)		(331.0)
Long-term liabilities, primarily operating lease liabilities and deferred income taxes	(105.3)		(0.2)		(105.5)
Total identifiable net assets	$	179.7	$	36.1	$	215.8
Goodwill	568.8		15.4		584.2
Total net assets acquired, including goodwill	$	748.5	$	51.5	$	800.0

The following table summarizes, as of December 31, 2022, the estimated fair values of consideration paid and net assets acquired, as adjusted, for the Company’s 2021 acquisitions (in millions):


Acquisition consideration(a):	HMG		All other		Total
Cash, net of cash acquired	$	402.4	$	876.7	$	1,279.1
Shares transferred	181.7		—		181.7
Estimated fair value of contingent consideration	—		104.9		104.9
Total consideration	$	584.1	$	981.6	$	1,565.7
Identifiable assets acquired and liabilities assumed:
Accounts receivable and contract assets	$	409.0	$	266.2	$	675.2
Current assets	19.5		26.7		46.2
Property and equipment	248.6		250.6		499.2
Long-term assets, primarily operating lease right-of-use assets	84.9		81.9		166.8
Amortizing intangible assets	164.4		444.2		608.6
Accounts payable	(108.0)		(49.3)		(157.3)
Current liabilities, including current portion of operating lease liabilities	(157.2)		(140.7)		(297.9)
Long-term debt, including finance lease obligations	(0.2)		(4.4)		(4.6)
Long-term liabilities, primarily operating lease liabilities and deferred income taxes	(148.3)		(76.6)		(224.9)
Total identifiable net assets	$	512.7	$	798.6	$	1,311.3
Goodwill	71.4		186.6		258.0
Total net assets acquired, including goodwill	$	584.1	$	985.2	$	1,569.3
Bargain purchase gain	—		(3.6)		(3.6)
Total consideration	$	584.1	$	981.6	$	1,565.7

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

Stock-Based Compensation and Other Employee Benefit Plans - 401(k) Plan (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
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, amount	$ 36.1	$ 30.2	$ 23.1

Other Retirement Plans (Tables)

12 Months Ended

Dec. 31, 2023

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

2023

2022

2021

Expiration Date of CBA

2023

As of

2022

As of

FIP/RP Status

Surcharge

Central Pension Fund of the IUOE & Participating Employers

366052390

001

19.2

8.1

27.4

Varies through 04/30/2027

Green

1/31/2023

Green

1/31/2022

National Electrical Benefit Fund

530181657

001

18.3

17.7

5.9

Varies through 1/2/2028

Green

12/31/2022

(a)

Green

12/31/2021

Local Union No. 9 IBEW and Outside Contractors Pension Fund

516077720

001

7.2

9.3

4.7

Varies through 5/31/2026

Green

10/31/2022

(a)

Green

10/31/2021

(a)

Pipeline Industry Pension Fund

736146433

001

6.0

2.3

10.9

Varies through 5/31/2026

Green

12/31/2022

(a)

Green

12/31/2021

IBEW Local 769 Management Pension Plan A

866049763

001

4.0

0.6

0.5

Varies through 8/4/2026

Green

6/30/2022

(a)

Green

6/30/2021

Teamsters National Pipe Line Pension Plan

461102851

001

3.9

1.5

6.2

5/31/2026

Green

12/31/2022

(a)

Green

12/31/2021

(a)

Heavy & General Laborers' Local Unions 472 and 172 of New Jersey Pension Fund

226032103

001

3.7

0.0

Varies through 5/31/2026

Green

3/31/2023

(a)

Green

3/31/2022

IUOE Local 132 Pension Fund

556015364

001

3.6

0.7

1.4

Varies through 5/31/2026

Green

3/31/2023

Green

3/31/2022

(a)

IBEW Local 1249 Pension Plan

156035161

001

3.4

3.3

1.4

Varies through 12/31/2025

Green

12/31/2022

Green

12/31/2021

West Virginia Laborers' Pension Trust Fund

556026775

001

3.2

0.9

2.5

5/31/2026

Green

3/31/2023

Green

3/31/2022

(a)

IBEW Local 456 Pension Plan

226238995

001

3.1

3.2

0.0

11/29/2025

Green

12/31/2022

(a)

Green

12/31/2021

(a)

Laborers' District Council of Virginia Pension Trust Fund

546117299

001

2.9

0.1

1.6

5/31/2026

Green

12/31/2022

Green

12/31/2021

Construction Laborers' Pension Trust Fund for Southern California

436159056

001

2.9

3.4

0.0

Varies through 6/30/2026

Green

12/31/2022

(a)

Green

12/31/2021

Midwest Operating Engineers Pension Trust Fund

366140097

001

2.7

2.1

1.6

Varies through 5/31/2027

Green

3/31/2023

Green

3/31/2022

(b)

Central Laborers' Pension Fund

376052379

001

2.3

1.3

Varies through 4/30/2027

Yellow

12/31/2022

(b)

Yellow

12/31/2021

(b)

Implemented

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

556021850

001

1.8

0.5

0.6

5/31/2026

Red

12/31/2022

(b)

Red

12/31/2021

(b)

Implemented

Laborers' National Pension Fund

751280827

001

1.6

0.6

3.8

Varies through 5/31/2026

Red

12/31/2022

Red

12/31/2021

(a)

Implemented

Chicago & Vicinity Laborers' District Council Pension Plan

362514514

002

1.4

2.5

0.8

Varies through 5/31/2026

Green

5/31/2022

Green

5/31/2021

San Diego County Construction Laborers' Pension Trust Fund

956090541

001

1.4

1.5

0.0

6/30/2026

Green

8/31/2022

Green

8/31/2021

Laborers' Local Union No. 158 Pension Plan

236580323

001

1.2

1.5

0.7

Varies through 5/31/2027

Green

12/31/2022

(a)

Green

12/31/2021

(a)

Laborers' District Council of Western Pennsylvania Pension Fund

256135576

001

0.5

3.1

Varies through 5/31/2026

Yellow

12/31/2022

Yellow

12/31/2021

Implemented

Minnesota Laborers' Pension Fund

416159599

001

0.5

0.7

5.1

Varies through 5/31/2026

Green

12/31/2022

Green

12/31/2021

Other funds

23.6

23.0

14.5

Total multiemployer pension plan contributions

118.4

89.0

94.0

(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 for the periods indicated were as follows:


	Multiemployer Plans
	Covered Employees		Contributions (in millions)
For the Years Ended December 31:	Low	High	Pension		Other Multiemployer		Total
2023	6,806	11,025	$	118.4	$	59.1	$	177.5
2022	6,601	7,136	$	89.0	$	56.3	$	145.3
2021	2,412	6,979	$	94.0	$	34.1	$	128.1

- Definition

Tabular disclosure of information about multiemployer plan.

+ References

+ Details

Other Retirement Plans - Schedule of Multiemployer Pension Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Multiemployer Plans [Line Items]
Other funds	$ 23.6	$ 23.0	$ 14.5
Total multiemployer pension plan contributions	$ 177.5	145.3	128.1
Central Pension Fund of the IUOE & Participating Employers
Multiemployer Plans [Line Items]
Employer Identification Number	366052390
Plan Number	001
Contributions (in millions) For the Years Ended December 31,	$ 19.2	$ 8.1	27.4
Expiration Date of CBA	Apr. 30, 2027
Pension Protection Act Zone Status	Green	Green
Pension Protection Act Zone Status, Date	Jan. 31, 2023	Jan. 31, 2022
FIP/RP Status	NA
Surcharge	No
National Electrical Benefit Fund
Multiemployer Plans [Line Items]
Employer Identification Number	530181657
Plan Number	001
Contributions (in millions) For the Years Ended December 31,	$ 18.3	$ 17.7	5.9
Expiration Date of CBA	Jan. 02, 2028
Pension Protection Act Zone Status	Green	Green
Pension Protection Act Zone Status, Date	Dec. 31, 2022	Dec. 31, 2021
FIP/RP Status	NA
Surcharge	No
Multiemployer pension plans, Company contributions greater than 5% of total plan contributions	true
Local Union No. 9 IBEW and Outside Contractors Pension Fund
Multiemployer Plans [Line Items]
Employer Identification Number	516077720
Plan Number	001
Contributions (in millions) For the Years Ended December 31,	$ 7.2	$ 9.3	4.7
Expiration Date of CBA	May 31, 2026
Pension Protection Act Zone Status	Green	Green
Pension Protection Act Zone Status, Date	Oct. 31, 2022	Oct. 31, 2021
FIP/RP Status	NA
Surcharge	No
Multiemployer pension plans, Company contributions greater than 5% of total plan contributions	true	true
Pipeline Industry Pension Fund
Multiemployer Plans [Line Items]
Employer Identification Number	736146433
Plan Number	001
Contributions (in millions) For the Years Ended December 31,	$ 6.0	$ 2.3	10.9
Expiration Date of CBA	May 31, 2026
Pension Protection Act Zone Status	Green	Green
Pension Protection Act Zone Status, Date	Dec. 31, 2022	Dec. 31, 2021
FIP/RP Status	NA
Surcharge	No
Multiemployer pension plans, Company contributions greater than 5% of total plan contributions	true
IBEW Local 769 Management Pension Plan A
Multiemployer Plans [Line Items]
Employer Identification Number	866049763
Plan Number	001
Contributions (in millions) For the Years Ended December 31,	$ 4.0	$ 0.6	0.5
Expiration Date of CBA	Aug. 04, 2026
Pension Protection Act Zone Status	Green	Green
Pension Protection Act Zone Status, Date	Jun. 30, 2022	Jun. 30, 2021
FIP/RP Status	NA
Surcharge	No
Multiemployer pension plans, Company contributions greater than 5% of total plan contributions	true
Teamsters National Pipe Line Pension Plan
Multiemployer Plans [Line Items]
Employer Identification Number	461102851
Plan Number	001
Contributions (in millions) For the Years Ended December 31,	$ 3.9	$ 1.5	6.2
Expiration Date of CBA	May 31, 2026
Pension Protection Act Zone Status	Green	Green
Pension Protection Act Zone Status, Date	Dec. 31, 2022	Dec. 31, 2021
FIP/RP Status	NA
Surcharge	No
Multiemployer pension plans, Company contributions greater than 5% of total plan contributions	true	true
Heavy & General Laborers' Local Unions 472 and 172 of New Jersey Pension Fund
Multiemployer Plans [Line Items]
Employer Identification Number	226032103
Plan Number	001
Contributions (in millions) For the Years Ended December 31,	$ 3.7	$ 3.7	0.0
Expiration Date of CBA	May 31, 2026
Pension Protection Act Zone Status	Green	Green
Pension Protection Act Zone Status, Date	Mar. 31, 2023	Mar. 31, 2022
FIP/RP Status	NA
Surcharge	No
Multiemployer pension plans, Company contributions greater than 5% of total plan contributions	true
IUOE Local 132 Pension Fund
Multiemployer Plans [Line Items]
Employer Identification Number	556015364
Plan Number	001
Contributions (in millions) For the Years Ended December 31,	$ 3.6	$ 0.7	1.4
Expiration Date of CBA	May 31, 2026
Pension Protection Act Zone Status	Green	Green
Pension Protection Act Zone Status, Date	Mar. 31, 2023	Mar. 31, 2022
FIP/RP Status	NA
Surcharge	No
Multiemployer pension plans, Company contributions greater than 5% of total plan contributions		true
IBEW Local 1249 Pension Plan
Multiemployer Plans [Line Items]
Employer Identification Number	156035161
Plan Number	001
Contributions (in millions) For the Years Ended December 31,	$ 3.4	$ 3.3	1.4
Expiration Date of CBA	Dec. 31, 2025
Pension Protection Act Zone Status	Green	Green
Pension Protection Act Zone Status, Date	Dec. 31, 2022	Dec. 31, 2021
FIP/RP Status	NA
Surcharge	No
West Virginia Laborers' Pension Trust Fund
Multiemployer Plans [Line Items]
Employer Identification Number	556026775
Plan Number	001
Contributions (in millions) For the Years Ended December 31,	$ 3.2	$ 0.9	2.5
Expiration Date of CBA	May 31, 2026
Pension Protection Act Zone Status	Green	Green
Pension Protection Act Zone Status, Date	Mar. 31, 2023	Mar. 31, 2022
FIP/RP Status	NA
Surcharge	No
Multiemployer pension plans, Company contributions greater than 5% of total plan contributions		true
IBEW Local 456 Pension Plan
Multiemployer Plans [Line Items]
Employer Identification Number	226238995
Plan Number	001
Contributions (in millions) For the Years Ended December 31,	$ 3.1	$ 3.2	0.0
Expiration Date of CBA	Nov. 29, 2025
Pension Protection Act Zone Status	Green	Green
Pension Protection Act Zone Status, Date	Dec. 31, 2022	Dec. 31, 2021
FIP/RP Status	NA
Surcharge	No
Multiemployer pension plans, Company contributions greater than 5% of total plan contributions	true	true
Laborers' District Council of Virginia Pension Trust Fund
Multiemployer Plans [Line Items]
Employer Identification Number	546117299
Plan Number	001
Contributions (in millions) For the Years Ended December 31,	$ 2.9	$ 0.1	1.6
Expiration Date of CBA	May 31, 2026
Pension Protection Act Zone Status	Green	Green
Pension Protection Act Zone Status, Date	Dec. 31, 2022	Dec. 31, 2021
FIP/RP Status	NA
Surcharge	No
Construction Laborers' Pension Trust Fund for Southern California
Multiemployer Plans [Line Items]
Employer Identification Number	436159056
Plan Number	001
Contributions (in millions) For the Years Ended December 31,	$ 2.9	$ 3.4	0.0
Expiration Date of CBA	Jun. 30, 2026
Pension Protection Act Zone Status	Green	Green
Pension Protection Act Zone Status, Date	Dec. 31, 2022	Dec. 31, 2021
FIP/RP Status	NA
Surcharge	No
Multiemployer pension plans, Company contributions greater than 5% of total plan contributions	true
Midwest Operating Engineers Pension Trust Fund
Multiemployer Plans [Line Items]
Employer Identification Number	366140097
Plan Number	001
Contributions (in millions) For the Years Ended December 31,	$ 2.7	$ 2.1	1.6
Expiration Date of CBA	May 31, 2027
Pension Protection Act Zone Status	Green	Green
Pension Protection Act Zone Status, Date	Mar. 31, 2023	Mar. 31, 2022
FIP/RP Status	NA
Surcharge	No
Multiemployer plans, pension protection act zone status, extended amortization provisions		true
Central Laborers' Pension Fund
Multiemployer Plans [Line Items]
Employer Identification Number	376052379
Plan Number	001
Contributions (in millions) For the Years Ended December 31,	$ 2.3	$ 1.3	1.3
Expiration Date of CBA	Apr. 30, 2027
Pension Protection Act Zone Status	Yellow	Yellow
Pension Protection Act Zone Status, Date	Dec. 31, 2022	Dec. 31, 2021
FIP/RP Status	Implemented
Surcharge	No
Multiemployer plans, pension protection act zone status, extended amortization provisions	true	true
Employer- Teamsters Local Nos. 175 & 505 Pension Trust Fund
Multiemployer Plans [Line Items]
Employer Identification Number	556021850
Plan Number	001
Contributions (in millions) For the Years Ended December 31,	$ 1.8	$ 0.5	0.6
Expiration Date of CBA	May 31, 2026
Pension Protection Act Zone Status	Red	Red
Pension Protection Act Zone Status, Date	Dec. 31, 2022	Dec. 31, 2021
FIP/RP Status	Implemented
Surcharge	No
Multiemployer plans, pension protection act zone status, extended amortization provisions	true	true
Laborers' National Pension Fund
Multiemployer Plans [Line Items]
Employer Identification Number	751280827
Plan Number	001
Contributions (in millions) For the Years Ended December 31,	$ 1.6	$ 0.6	3.8
Expiration Date of CBA	May 31, 2026
Pension Protection Act Zone Status	Red	Red
Pension Protection Act Zone Status, Date	Dec. 31, 2022	Dec. 31, 2021
FIP/RP Status	Implemented
Surcharge	No
Multiemployer pension plans, Company contributions greater than 5% of total plan contributions		true
Chicago & Vicinity Laborers' District Council Pension Plan
Multiemployer Plans [Line Items]
Employer Identification Number	362514514
Plan Number	002
Contributions (in millions) For the Years Ended December 31,	$ 1.4	$ 2.5	0.8
Expiration Date of CBA	May 31, 2026
Pension Protection Act Zone Status	Green	Green
Pension Protection Act Zone Status, Date	May 31, 2022	May 31, 2021
FIP/RP Status	NA
Surcharge	No
San Diego County Construction Laborers' Pension Trust Fund
Multiemployer Plans [Line Items]
Employer Identification Number	956090541
Plan Number	001
Contributions (in millions) For the Years Ended December 31,	$ 1.4	$ 1.5	0.0
Expiration Date of CBA	Jun. 30, 2026
Pension Protection Act Zone Status	Green	Green
Pension Protection Act Zone Status, Date	Aug. 31, 2022	Aug. 31, 2021
FIP/RP Status	NA
Surcharge	No
Laborers' Local Union No. 158 Pension Plan
Multiemployer Plans [Line Items]
Employer Identification Number	236580323
Plan Number	001
Contributions (in millions) For the Years Ended December 31,	$ 1.2	$ 1.5	0.7
Expiration Date of CBA	May 31, 2027
Pension Protection Act Zone Status	Green	Green
Pension Protection Act Zone Status, Date	Dec. 31, 2022	Dec. 31, 2021
FIP/RP Status	NA
Surcharge	No
Multiemployer pension plans, Company contributions greater than 5% of total plan contributions	true	true
Laborers' District Council of Western Pennsylvania Pension Fund
Multiemployer Plans [Line Items]
Employer Identification Number	256135576
Plan Number	001
Contributions (in millions) For the Years Ended December 31,	$ 0.5	$ 0.5	3.1
Expiration Date of CBA	May 31, 2026
Pension Protection Act Zone Status	Yellow	Yellow
Pension Protection Act Zone Status, Date	Dec. 31, 2022	Dec. 31, 2021
FIP/RP Status	Implemented
Surcharge	No
Minnesota Laborers' Pension Fund
Multiemployer Plans [Line Items]
Employer Identification Number	416159599
Plan Number	001
Contributions (in millions) For the Years Ended December 31,	$ 0.5	$ 0.7	5.1
Expiration Date of CBA	May 31, 2026
Pension Protection Act Zone Status	Green	Green
Pension Protection Act Zone Status, Date	Dec. 31, 2022	Dec. 31, 2021
FIP/RP Status	NA
Surcharge	No
Pension
Multiemployer Plans [Line Items]
Total multiemployer pension plan contributions	$ 118.4	$ 89.0	$ 94.0

Other Retirement Plans

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

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 five categories based on multiple factors, which categories are 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 could 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

2023

2022

2021

Expiration Date of CBA

2023

As of

2022

As of

FIP/RP Status

Surcharge

Central Pension Fund of the IUOE & Participating Employers

366052390

001

19.2

8.1

27.4

Varies through 04/30/2027

Green

1/31/2023

Green

1/31/2022

National Electrical Benefit Fund

530181657

001

18.3

17.7

5.9

Varies through 1/2/2028

Green

12/31/2022

(a)

Green

12/31/2021

Local Union No. 9 IBEW and Outside Contractors Pension Fund

516077720

001

7.2

9.3

4.7

Varies through 5/31/2026

Green

10/31/2022

(a)

Green

10/31/2021

(a)

Pipeline Industry Pension Fund

736146433

001

6.0

2.3

10.9

Varies through 5/31/2026

Green

12/31/2022

(a)

Green

12/31/2021

IBEW Local 769 Management Pension Plan A

866049763

001

4.0

0.6

0.5

Varies through 8/4/2026

Green

6/30/2022

(a)

Green

6/30/2021

Teamsters National Pipe Line Pension Plan

461102851

001

3.9

1.5

6.2

5/31/2026

Green

12/31/2022

(a)

Green

12/31/2021

(a)

Heavy & General Laborers' Local Unions 472 and 172 of New Jersey Pension Fund

226032103

001

3.7

0.0

Varies through 5/31/2026

Green

3/31/2023

(a)

Green

3/31/2022

IUOE Local 132 Pension Fund

556015364

001

3.6

0.7

1.4

Varies through 5/31/2026

Green

3/31/2023

Green

3/31/2022

(a)

IBEW Local 1249 Pension Plan

156035161

001

3.4

3.3

1.4

Varies through 12/31/2025

Green

12/31/2022

Green

12/31/2021

West Virginia Laborers' Pension Trust Fund

556026775

001

3.2

0.9

2.5

5/31/2026

Green

3/31/2023

Green

3/31/2022

(a)

IBEW Local 456 Pension Plan

226238995

001

3.1

3.2

0.0

11/29/2025

Green

12/31/2022

(a)

Green

12/31/2021

(a)

Laborers' District Council of Virginia Pension Trust Fund

546117299

001

2.9

0.1

1.6

5/31/2026

Green

12/31/2022

Green

12/31/2021

Construction Laborers' Pension Trust Fund for Southern California

436159056

001

2.9

3.4

0.0

Varies through 6/30/2026

Green

12/31/2022

(a)

Green

12/31/2021

Midwest Operating Engineers Pension Trust Fund

366140097

001

2.7

2.1

1.6

Varies through 5/31/2027

Green

3/31/2023

Green

3/31/2022

(b)

Central Laborers' Pension Fund

376052379

001

2.3

1.3

Varies through 4/30/2027

Yellow

12/31/2022

(b)

Yellow

12/31/2021

(b)

Implemented

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

556021850

001

1.8

0.5

0.6

5/31/2026

Red

12/31/2022

(b)

Red

12/31/2021

(b)

Implemented

Laborers' National Pension Fund

751280827

001

1.6

0.6

3.8

Varies through 5/31/2026

Red

12/31/2022

Red

12/31/2021

(a)

Implemented

Chicago & Vicinity Laborers' District Council Pension Plan

362514514

002

1.4

2.5

0.8

Varies through 5/31/2026

Green

5/31/2022

Green

5/31/2021

San Diego County Construction Laborers' Pension Trust Fund

956090541

001

1.4

1.5

0.0

6/30/2026

Green

8/31/2022

Green

8/31/2021

Laborers' Local Union No. 158 Pension Plan

236580323

001

1.2

1.5

0.7

Varies through 5/31/2027

Green

12/31/2022

(a)

Green

12/31/2021

(a)

Laborers' District Council of Western Pennsylvania Pension Fund

256135576

001

0.5

3.1

Varies through 5/31/2026

Yellow

12/31/2022

Yellow

12/31/2021

Implemented

Minnesota Laborers' Pension Fund

416159599

001

0.5

0.7

5.1

Varies through 5/31/2026

Green

12/31/2022

Green

12/31/2021

Other funds

23.6

23.0

14.5

Total multiemployer pension plan contributions

118.4

89.0

94.0

(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 for the periods indicated were as follows:


	Multiemployer Plans
	Covered Employees		Contributions (in millions)
For the Years Ended December 31:	Low	High	Pension		Other Multiemployer		Total
2023	6,806	11,025	$	118.4	$	59.1	$	177.5
2022	6,601	7,136	$	89.0	$	56.3	$	145.3
2021	2,412	6,979	$	94.0	$	34.1	$	128.1

The fluctuations in the number of employees covered under multiemployer plans and associated contributions in the table above related primarily to the timing of activity for the Company’s union resource-based projects, as well as the effects of the Company’s recent acquisitions. For the year ended December 31, 2023, multiemployer plan activity was driven primarily by project work within the Company’s Power Delivery and Oil and Gas operations, and, to a lesser extent, by acquisition-related project work within the Company’s Clean Energy and Infrastructure operations, whereas for the year ended December 31, 2022, activity was driven primarily by acquisition-related project work within the Company’s Power Delivery operations, and, to a lesser extent, its Oil and Gas operations. For the year ended December 31, 2021, activity was driven primarily by the Company’s Oil and Gas operations, as well as the effect of the Company’s acquisitions within its Power Delivery segment.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480794/715-70-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480482/715-20-55-17

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (q)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (l)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//715/tableOfContent

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (o)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (p)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480126/715-20-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 60
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480266/715-60-50-3

+ Details

Business, Basis of Presentation and Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements include MasTec, Inc. and its subsidiaries and include the accounts of all majority owned subsidiaries over which the Company exercises control and, when applicable, entities in which the Company has a controlling financial interest. All significant intercompany balances and transactions have been eliminated in consolidation. Other parties’ interests in entities that MasTec consolidates are reported as non-controlling interests within equity, except for mandatorily redeemable non-controlling interests, which are recorded within other liabilities. Net income or loss attributable to non-controlling interests is reported as a separate line item below net income or loss. Investments in entities for which the Company does not have a controlling financial interest, but over which it has the ability to exert significant influence, are accounted for under 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.
Reclassifications	When appropriate, prior year amounts are reclassified to conform with the current period presentation.
Translation of Foreign Currencies	Translation of Foreign Currencies The assets and liabilities of foreign subsidiaries with a functional currency other than the U.S. dollar are translated into U.S. dollars at period-end exchange rates, with resulting translation gains or losses included within other comprehensive income or loss. Revenue and expenses are translated into U.S. dollars at average rates of exchange during the applicable period. Substantially all of the Company’s foreign operations use their local currency as their functional currency. For foreign operations for which the local currency is not the functional currency, the operation’s non-monetary assets are remeasured into U.S. dollars at historical exchange rates. All other accounts are remeasured at current exchange rates. Gains or losses from remeasurement are included in other income or expense, net. Currency gains or losses resulting from transactions executed in currencies other than the functional currency are included in other income or expense, net.
Management Estimates	Management Estimates The preparation of consolidated financial statements in accordance with U.S. GAAP requires the use of estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. These estimates are based on historical experience and various other assumptions that management believes to be reasonable under the circumstances, including the potential future effects of macroeconomic trends and events, such as inflation and interest rate levels; uncertainty from potential market volatility; other market, industry and regulatory factors, including uncertainty related to the implementation and pace of governmental programs and initiatives and project permitting issues, and other regulatory matters or uncertainty; supply chain disruptions; climate-related matters; global events, such as military conflicts; and public health matters. These estimates form the basis for making judgments about the Company’s operating results and the carrying values of assets and liabilities that are not readily apparent from other sources. While management believes that such estimates are reasonable when considered in conjunction with the Company’s consolidated financial position and results of operations taken as a whole, actual results could differ materially from these estimates if conditions change or if certain key assumptions used in making these estimates ultimately prove to be inaccurate. 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 goodwill and intangible assets, long-lived and other assets, equity investments, financial instruments, acquisition-related liabilities, including contingent consideration, other liabilities and debt obligations; asset lives used in computing depreciation and amortization; self-insurance liabilities; allowances for credit losses; certain other accruals and allowances; income taxes; and the estimated effects of litigation and other contingencies.
General Economic, Market and Regulatory Conditions	General Economic, Market and Regulatory Conditions The Company has experienced, and may continue to experience, direct and indirect negative effects on its business and operations from economic, market, and regulatory conditions, including the current level of interest rates; inflationary effects on the costs of labor, materials and fuel; supply chain disruptions; uncertainty related to the implementation and pace of spending under governmental programs and initiatives related to infrastructure and other industrial investment, delays and uncertainty related to project permitting and/or other regulatory matters or uncertainty; climate, environmental and sustainability-related matters; changes in technology, tax and other incentives; potential market volatility that could negatively affect demand for future projects, and/or delay existing project timing or cause increased project costs; and public health matters. Additionally, the effects of ongoing and recent geopolitical events, such as the political unrest and military conflicts in the Middle East and Ukraine, could potentially increase volatility and uncertainty in the energy and capital markets, which could delay projects and/or negatively affect demand for future projects. The extent to which these conditions could affect the Company’s business, operations and financial results is uncertain as it will depend upon numerous evolving factors that management may not be able to accurately predict, and, therefore, any future impacts on the Company’s business, financial condition and/or results of operations cannot be quantified or predicted with specificity.
Revenue Recognition	Revenue Recognition The Company recognizes revenue from contracts with customers when, or as, control of promised services and goods is transferred to customers. The amount of revenue recognized reflects the consideration to which the Company expects to be entitled in exchange for the services and goods transferred. The Company primarily recognizes revenue over time utilizing the cost-to-cost measure of progress, which best depicts the continuous transfer of control of goods or services to the customer, and correspondingly, when performance obligations are satisfied for the related contracts. Contracts. The Company derives revenue primarily from construction projects performed under: (i) master service and other service agreements, which generally provide a menu of available services in a specific geographic territory that are utilized on an as-needed basis, and are typically priced using either a time and materials or a fixed price per unit basis; and (ii) contracts for specific projects requiring the construction and installation of an entire infrastructure system, or specified units within an infrastructure system, which may be subject to one or 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 40%, 51% and 38% of consolidated revenue for the years ended December 31, 2023, 2022 and 2021, respectively. 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, which is an input method. 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, revenue is recognized at a point in time, primarily for install-to-the-home and certain other wireless services in the Company’s Communications segment, and to a lesser extent, certain revenue in the Company’s Clean Energy and Infrastructure and Oil and Gas segments. Point in time revenue is recognized when the work order has been fulfilled, which for the majority of the Company’s point in time revenue, is the same day it is initiated. Point in time revenue accounted for approximately 2% of consolidated revenue for the year ended December 31, 2023, and accounted for approximately 4% of consolidated revenue in both of the years ended December 31, 2022 and 2021. 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 primarily based on the professional knowledge and experience of the Company’s project managers, operational and financial professionals, and other professional expertise, as warranted. 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 the estimated amount and probability of 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 the amount of revenue recognized in the period in which the revisions are determined, which revisions 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 based on management’s estimates. In each of the years ended December 31, 2023, 2022 and 2021, project profit was affected by less than 5% as a result of changes in contract estimates included in projects that were in process as of December 31, 2022, 2021 and 2020. Changes in recognized revenue, net, as a result of changes in total contract transaction price estimates, including from variable consideration, and/or changes in cost estimates, related to performance obligations satisfied or partially satisfied in prior periods, for the years ended December 31, 2023, 2022 and 2021 positively affected revenue by approximately 0.2%, 0.1% and 0.5%, respectively. The Company may incur certain costs that can be capitalized, such as initial set-up or mobilization costs. Such capitalized costs, which are amortized over the life of the respective projects, were not material as of December 31, 2023 or 2022. 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 contracts for specific projects, 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 and certain other contracts and services, work orders are billed and paid as completed. Amounts billed and due from customers, as well as the value 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. 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 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 specific 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, 2023, the amount of the Company’s remaining performance obligations was $7.7 billion. Based on current expectations, the Company anticipates it will recognize approximately $5.2 billion of its remaining performance obligations as revenue during 2024, with the remainder expected to be recognized primarily in 2025. 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 specific discussions, correspondence or preliminary negotiations and past practices with the customer, engineering studies and legal advice 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 recognized as an adjustment to revenue, typically 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, 2023 and 2022, the Company included in its contract transaction prices approximately $194 million and $271 million, respectively, of change orders and/or claims for certain contracts that were in the process of being resolved in the ordinary course of its business, including through negotiation, arbitration and other proceedings. These transaction price adjustments, when earned, are included within contract assets or accounts receivable, net of allowance, as appropriate. As of both December 31, 2023 and 2022, these change orders and/or claims primarily related to certain projects in the Company’s Clean Energy and Infrastructure and Power Delivery segments, and as of December 31, 2022, included amounts related to the Company’s 2022 acquisitions. 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 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; and the existence of payment bonds and other sources of payment, among other factors. 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 a specific 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 instrument portfolio, developing trends, including changes in management’s expectations of future economic, industry or other conditions and/or changes in credit quality or unanticipated financial difficulties affecting the Company’s customers. In addition, if anticipated recoveries in existing work-out negotiations or bankruptcies 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 the potential effects of trends in end-market volatility and/or other macroeconomic factors on the credit quality of the Company’s customers and/or its financial assets, such as the current market environment of elevated interest rates and inflation.
Inventories	Inventories Inventories primarily 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.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents consist primarily of interest-bearing demand deposits. The Company considers highly liquid investments with original maturities of less than three months to be cash equivalents. The balances in certain of the Company’s bank accounts exceed federally insured limits. Cash and cash equivalents are maintained at financial institutions that management considers to be of high credit quality. 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, 2023 and 2022 are amounts held by entities that are proportionately consolidated totaling $38.1 million and $25.7 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 material compensating balance requirements associated with the Company’s depository accounts or 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 are primarily composed of cash and cash equivalents, accounts receivable and contract assets, notes receivable, cash collateral deposited with insurance carriers, life insurance assets, equity investments, certain other assets and investments, deferred compensation plan assets and liabilities, accounts payable and other current liabilities, acquisition-related contingent consideration and other liabilities, and debt obligations. Fair value is the price that would be received to sell an asset or the amount paid to transfer a liability, also referred to as the “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 and contract assets, accounts payable and other current liabilities approximate their fair values, and management also believes that the carrying values of notes and other receivables, cash collateral deposited with insurance carriers and outstanding balances on the Company’s credit and term loan facilities approximate their fair values, based on their specific asset and/or liability characteristics, including having terms consistent with current market conditions.
Investments and Strategic Arrangements, 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 that VIE would be consolidated, with the other parties’ interests in the VIE accounted for as non-controlling interests. The primary beneficiary consolidating a 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
Investments and Strategic Arrangements, 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 the Company’s 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 in the Company’s consolidated balance sheets. 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.
Investments and Strategic Arrangements,, Unincorporated Entities, Proportional Consolidation	For equity investees in which the Company has an undivided interest in the assets, liabilities and profits or losses of an unincorporated entity, but does not exercise control over the entity, the Company consolidates its proportional interest in the accounts of the entity.
Investments and Strategic Arrangements,, 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.
Investments and Strategic Arrangements,, 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, which is referred to as the “adjusted cost basis.”
Deferred Financing Costs	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 Company’s senior unsecured credit facility. Deferred financing costs are amortized over the terms of the related debt instruments using the effective interest method.
Long Lived Assets, Property and Equipment	Purchased property and equipment is 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 equipment, furniture and internal-use software. 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. Gains or losses, net, from the sale of property and equipment are included within general and administrative expenses. 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.
Long Lived Assets, 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.
Long Lived Assets, 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, which are Level 3 inputs.
Goodwill and Indefinite-Lived Intangible 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. See below for details of the Company’s impairment testing for the years ended December 31, 2023, 2022 and 2021. 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 approximate fair value. Goodwill is the amount by which consideration paid for an acquired entity exceeds the fair value of its acquired net assets. A bargain purchase gain results when the fair value of an acquired entity’s net assets exceeds its purchase price, and is recorded within other income in the consolidated statements of operations. Acquisition costs are expensed as incurred and are included within general and administrative expenses in the consolidated statements of operations. For the years ended December 31, 2023, 2022 and 2021, the Company incurred approximately $3 million, $17 million and $7 million, respectively, of acquisition costs associated with its completed acquisitions. 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 from the date of acquisition 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 of, or an adjustment to the fair values of, acquisition-related assets and liabilities and/or consideration paid, and are referred to as “measurement period” adjustments. Measurement period adjustments are recorded to goodwill. Other revisions to fair value estimates, including those relating to facts and circumstances that occur subsequent to the date of acquisition, are reflected as income or expense, as appropriate. Consideration paid generally consists of cash and, from time to time, shares of our common stock, 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 certain of the Company’s recent acquisitions, as described in Note 3 - Acquisitions, Goodwill and Other Intangible Assets, Net, the acquisition consideration included shares of the Company’s common stock, as determined based upon the terms of the purchase agreement. These shares were valued for financial reporting purposes based on the market share price of MasTec’s common stock on the date of closing. Additionally, a prior year acquisition included a mandatorily redeemable non-controlling interest that was subject to a repurchase formula consistent with the Company’s traditional earn-out arrangements. In 2023, the Company acquired the remaining interests of this entity. 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. For the mandatorily redeemable non-controlling interest, such changes were recorded within interest expense or other income, as appropriate. Fair values of Earn-out liabilities are estimated using income approaches such as discounted cash flows or option pricing models, which are Level 3 inputs. 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 statements 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 certain 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. The volume of lease activity for leases with an initial term of twelve months or less varies depending upon the number of ongoing projects at a given time, as well as the location and type of equipment required in connection with those projects. 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, equipment and other leasing arrangements, which are not considered material to the consolidated financial statements. As of December 31, 2023, the Company’s leases have remaining lease terms of up to 15 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 needs 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 general and administration expenses.
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 and $10.0 million for each of its general liability and automobile liability policies. In addition, the Company also maintains excess umbrella coverage. The Company manages certain of its insurance liabilities indirectly through its wholly-owned captive insurance company, which reimburses claims up to the applicable insurance limits. Cash balances held by the Company’s captive insurance company are generally not available for use in the Company’s other operations. Estimated liabilities under the Company’s 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 or an incident, 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 or management 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 Company’s 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 its tax returns are accurate 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 Taxes, 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. 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 years ended December 31, 2023, 2022 and 2021, shares withheld in connection with stock-based compensation arrangements totaled 118,636, 49,418 and 63,054, respectively, and related payments to taxing authorities totaled $10.3 million, $4.1 million and $6.0 million, respectively. The Company has certain employee stock purchase plans (collectively, “ESPPs”) under which shares of the Company’s common stock are available for purchase by eligible participants. Under the ESPPs, eligible participants are permitted to purchase MasTec, Inc. common stock at 85% of the fair market value of the shares on the date of purchase, which occurs on the last trading day of each two week offering period. At the Company’s discretion, share purchases may be satisfied by delivering either newly issued common shares, or common shares reacquired on the open market or in privately negotiated transactions.
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 are assessed on a “pay-as-you-go” basis based on union employee payrolls. The Pension Protection Act of 2006, as amended (the “PPA”), requires underfunded pension plans 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 Internal Revenue Service (the “IRS”) can 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 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. 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.
Business Streamlining and Restructuring Activities	Business Streamlining and 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 acquisition and 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 business streamlining costs, acquisition and integration costs, or restructuring charges, as appropriate, based on the nature of the associated activities, can include such items as employee separation or termination costs, other integration-type costs, including facility consolidation and lease termination expenses, operating cost redundancies, losses on disposal of identified assets and system migration expenses, among other integration-type costs, and certain acquisition-related costs, including legal, professional and other fees associated with the consummation of the related acquisitions. 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 activities, they are referred to as restructuring costs, or, when acquisition-related, as acquisition and integration costs. Business streamlining costs, acquisition and integration costs, and/or restructuring charges are included within the applicable line items in the consolidated statement of operations based on the nature of the expenses 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. Costs incurred for litigation are expensed as incurred. 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 the recent accounting pronouncements discussion below for information pertaining to the effects of recently adopted and other recent accounting pronouncements. Accounting Pronouncements Adopted in 2023 The Company adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (“ASU 2021-08”) in the first quarter of 2023. ASU 2021-08, which was issued to improve consistency for revenue recognition in the post-acquisition period for acquired contracts as compared to contracts entered into subsequent to acquisition, requires an acquirer to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606, Revenue from Contracts with Customers, rather than at fair value. The adoption of ASU 2021-08 did not have a material effect on the Company’s consolidated financial statements. Accounting Pronouncements to be Adopted in 2024 In March 2023, the FASB issued ASU 2023-01, Leases (Topic 842): Common Control Arrangements (“ASU 2023-01”) to improve the guidance for applying Topic 842, Leases, to arrangements between entities under common control. ASU 2023-01 improves current GAAP by clarifying the accounting for leasehold improvements associated with common control leases, thereby reducing diversity in practice. The provisions of this ASU that apply to public companies include a requirement for entities to amortize leasehold improvements associated with common control leases over the useful life of the common control group. ASU 2023-01 is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2023, with early adoption permitted. The Company does not expect that this ASU will have a material effect on the Company’s consolidated financial statements. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”) to enhance segment reporting disclosures. ASU 2023-07 requires disclosure of significant segment expenses that are regularly provided to the chief operating decision maker (CODM) and included within each reported measure of segment profit or loss, as well as disclosure of the total amount and description of other segment items by reportable segment. This ASU also requires disclosure of the title and position of the CODM and an explanation of how the CODM uses the reported measures of segment profit or loss in assessing segment performance and deciding how to allocate resources. All disclosures about a reportable segment’s profit or loss and assets that are currently required on an annual basis under Segment Reporting (Topic 280) will also be required for interim periods under ASU 2023-07. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024, with retrospective application. Early adoption is permitted. The Company is currently evaluating the effect of this ASU on its segment disclosures. Other Recently Issued Accounting Pronouncements In August 2023, the FASB issued ASU 2023-05, Business Combinations—Joint Venture Formations (Subtopic 805-60): Recognition and Initial Measurement (“ASU 2023-05”). ASU 2023-05, which clarifies existing guidance to reduce diversity in practice, addresses the accounting for contributions made to a joint venture upon formation, in a joint venture’s separate financial statements. The provisions of this ASU require that a joint venture initially measure all contributions received upon its formation at fair value, largely consistent with Topic 805, Business Combinations. The amendments in this ASU are not applicable to the formation of proportionately consolidated joint ventures. ASU 2023-05 is effective prospectively for all joint ventures with a formation date on or after January 1, 2025, with early adoption permitted on a retrospective basis for joint ventures formed before January 1, 2025. The Company is currently evaluating the effects of this ASU. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”) to enhance transparency and decision usefulness of income tax disclosures. ASU 2023-09 requires greater standardization and disaggregation of categories within an entity’s tax rate reconciliation disclosure, as well as disclosure of income taxes paid by jurisdiction, among other requirements. ASU 2023-09 is effective for annual periods beginning after December 15, 2024, with early adoption permitted. ASU 2023-09 is effective on a prospective basis, with retrospective application permitted. The Company is currently evaluating the effects of this ASU on its income tax disclosures.

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
Accrued insurance	$ 51,200	$ 40,900
Operating loss carryforwards and tax credits	87,500	115,400
Compensation and benefits	34,900	36,900
Bad debt	3,800	2,000
Other	24,400	36,400
Capitalized expenses	243,700	110,300
Valuation allowance	(60,400)	(87,600)
Total deferred tax assets	385,100	254,300
Deferred tax liabilities:
Property and equipment	345,900	375,700
Goodwill	95,000	91,300
Other intangible assets	96,700	131,400
Gain on remeasurement of equity investee	7,300	7,300
Revenue recognition	81,300	84,600
Investments in unconsolidated entities	113,300	109,300
Other	36,000	26,100
Total deferred tax liabilities	775,500	825,700
Net deferred tax liabilities	$ (390,399)	$ (571,401)

Debt - Schedule of Contractual Maturities of Debt and Finance Lease Obligations (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Contractual Maturities of Debt and Finance Lease Obligations
2024	$ 177.2
2025	558.0
2026	1,185.9
2027	268.7
2028	604.1
Thereafter	284.9
Total debt obligations	3,078.8	$ 3,241.7
Debt instruments, accrued interest payable	$ 24.1	$ 24.8

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2023
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions MasTec purchases, rents and leases equipment and purchases various types of supplies and services used in its business, including ancillary construction services, project-related site restoration and marketing, business development and administrative activities from a number of different vendors on a non-exclusive basis, and from time to time, rents equipment to, sells certain supplies, or performs construction services on behalf of, entities in which members of subsidiary management have ownership or commercial interests. For the years ended December 31, 2023, 2022 and 2021, such payments to related party entities totaled approximately $42.5 million, $35.0 million and $81.2 million, respectively. Payables associated with such arrangements totaled approximately $2.7 million and $2.6 million as of December 31, 2023 and 2022, respectively. Revenue from such related party arrangements totaled approximately $14.0 million, $10.4 million and $4.2 million for the years ended December 31, 2023, 2022 and 2021, respectively. As of December 31, 2023, accounts receivable, net, less deferred revenue related to these arrangements totaled a liability of approximately $0.4 million, and as of December 31, 2022, totaled a receivable of approximately $3.2 million. The Company rents and leases equipment and purchases certain supplies and servicing from CCI. Juan Carlos Mas, who is the brother of Jorge Mas, Chairman of MasTec’s Board of Directors, and José R. Mas, MasTec’s Chief Executive Officer, serves as the chairman of CCI, and a member of management of a MasTec subsidiary and an entity that is owned by the Mas family are minority owners. For the years ended December 31, 2023, 2022 and 2021, MasTec paid CCI $7.3 million, $4.0 million and $23.2 million, respectively, for such equipment, supply and servicing expenses, and related amounts payable totaled approximately $4.6 million and $0.6 million as of December 31, 2023 and 2022, respectively. The Company has also rented equipment to CCI. For the year ended December 31, 2023, there was no revenue from equipment rentals to CCI, and for the year ended December 31, 2022, such revenue totaled approximately $0.3 million. As of December 31, 2023, there were no related receivables, and as of December 31, 2022, related amounts receivable were de minimis. 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, 2023, 2022 and 2021, MasTec incurred subcontracting expenses in connection with this arrangement of approximately $8.7 million, $0.2 million and $90.3 million, respectively. Related amounts payable totaled approximately $3.1 million as of December 31, 2023, and as of December 31, 2022, such payables were de minimis. MasTec has an aircraft leasing arrangement with an entity that is owned by Jorge Mas. For the year ended December 31, 2023, MasTec paid approximately $2.7 million related to this leasing arrangement, and for both the years ended December 31, 2022 and 2021, MasTec paid approximately $2.6 million under this arrangement. In December of 2023, MasTec entered into a new leasing agreement with this entity. Related amounts payable totaled approximately $0.2 million as of December 31, 2023. MasTec performs construction services on behalf of a professional Miami soccer franchise (the “Franchise”) in which Jorge Mas and José R. Mas are majority owners. Construction services include, and have included, the construction of a soccer facility and stadium as well as wireless infrastructure services. In the third quarter of 2023, construction services related to site preparation for a new soccer complex began. For the year ended December 31, 2023, revenue under these arrangements totaled approximately $10.7 million, and related amounts receivable totaled approximately $4.1 million as of December 31, 2023. Payments for other expenses related to the Franchise totaled $1.2 million, $0.5 million and $0.6 million for the years ended December 31, 2023, 2022 and 2021, respectively, for which there were no amounts outstanding as of either December 31, 2023 or 2022. MasTec has a subcontracting arrangement to perform construction services for an entity in which, as of December 31, 2023, José R. Mas had a minority interest, and a member of management of a MasTec subsidiary owned the remaining interest. In the first quarter of 2024, MasTec acquired José R. Mas’ interest in this entity for approximately $0.7 million. For the years ended December 31, 2023 and 2022, revenue recognized by MasTec under this arrangement totaled approximately $163.2 million and $128.4 million, respectively, and as of December 31, 2023 and 2022, related amounts receivable totaled approximately $57.7 million and $42.0 million, respectively. MasTec did not provide services under this arrangement in 2021. MasTec also pays a management fee to this entity in connection with this subcontracting arrangement. Under a separate arrangement, this entity performs certain construction services for MasTec. For the years ended December 31, 2023 and 2022, MasTec incurred approximately $5.4 million and $1.5 million, respectively, for subcontracting and management fee expenses under these arrangements, and as of December 31, 2023 and 2022, related amounts payable totaled approximately $1.1 million and $0.3 million, respectively. Jorge Mas and José R. Mas previously owned a majority interest of a customer to which MasTec leased employees and provided satellite communication services, which interests were sold in the fourth quarter of 2022. Charges to this customer under these arrangements totaled approximately $1.1 million and $1.2 million for the years ended December 31, 2022 and 2021, respectively, and as of December 31, 2022, related amounts receivable were de minimis. From time to time, the Company pays amounts on behalf of or to the former owners of acquired businesses, which, under the provisions of the related purchase agreements, the former owners are obligated to repay. The Company paid $0.6 million of such amounts during the year ended December 31, 2023, and for both the years ended December 31, 2022 and 2021 such payments totaled approximately $1.5 million. Amounts receivable for such payments, which are expected to be settled under customary terms associated with the related purchase agreements, totaled approximately $2.6 million and $2.0 million as of December 31, 2023 and 2022, respectively. In addition, the Company has a subcontracting arrangement with an entity in which it has a 25% interest. The Company’s interest in this entity is accounted for as an equity method investment. For the year ended December 31, 2023, the Company made equity contributions of approximately $3.7 million to this entity, of which $0.3 million was paid in cash, and for the year ended December 31, 2022 equity contributions to this entity totaled approximately $0.9 million. As of December 31, 2023, the Company’s investment in this entity was approximately $1.2 million. As of December 31, 2022, the Company’s net investment in this entity was a liability of approximately $0.2 million, which net amount included approximately $2.3 million of accounts receivable, net, less deferred revenue related to the subcontracting arrangement. Additionally, the Company has certain arrangements with an entity in which members of management have an ownership interest, including a fee arrangement in conjunction with a $15.0 million letter of credit issued by the Company on behalf of this entity. Income recognized in connection with these arrangements in each of the years ended December 31, 2023, 2022 and 2021 totaled approximately $0.8 million. As of both December 31, 2023 and 2022, related amounts receivable totaled $0.4 million. The Company previously acquired a construction management firm specializing in steel building systems, of which Juan Carlos Mas was a minority owner at the time of acquisition. In the second quarter of 2023, the Company paid $16.1 million of contingent consideration in connection with the finalization of the earn-out arrangement related to this acquisition, as calculated under the terms of the purchase agreement. Approximately 25% of this earn-out payment was paid to Juan Carlos Mas, consistent with the terms of the purchase agreement. 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 completed in 2022. Outstanding performance guarantees on behalf of this contractual joint venture totaled Canadian $9.7 million as of both December 31, 2023 and 2022, or approximately $7.3 million and $7.1 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, including the ownership interests in two entities that the Company acquired in the second quarter of 2023, of which it sold certain minority interests of these entities to members of management of a MasTec subsidiary for $7.1 million of notes receivable in the fourth quarter of 2023. These notes, of which approximately $6.9 million was outstanding as of December 31, 2023, bear interest at a rate of 5.0% per annum, and are recorded within other current or long-term assets, as appropriate, in the consolidated financial statements. See Note 3 - Acquisitions, Goodwill and Other Intangible Assets, Net for additional information. In the first quarter of 2023, the Company acquired the remaining 15% equity interests in one of its subsidiaries from two members of subsidiary management for $10.0 million in cash, plus 120,000 shares of MasTec common stock, valued at approximately $11.6 million. In 2021, the Company acquired an additional 15% of the non-controlling interests in one of these entities from two members of subsidiary management for $6.8 million in cash. Split Dollar Agreements MasTec has 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 $0.7 million for the year ended December 31, 2023 in connection with the split dollar agreements for Jorge Mas, and for both the years ended December 31, 2022 and 2021, the Company paid approximately $1.1 million in connection with such agreements. In each of the years ended December 31, 2023, 2022 and 2021, the Company paid approximately $0.7 million 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 $27.2 million and $25.8 million as of December 31, 2023 and 2022, respectively.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

+ Details

Stock-Based Compensation and Other Employee Benefit Plans - Employee Stock Purchase Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Stock-Based Compensation and Other Employee Benefit Plans [Line Items]
Common shares purchased (in shares)	119,450	112,341	86,510
Employee Stock Purchase Plans
Stock-Based Compensation and Other Employee Benefit Plans [Line Items]
Cash proceeds	$ 8.5	$ 7.4	$ 7.0
Compensation expense	$ 1.5	$ 1.3	$ 1.2

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Lease Obligations

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Lease Obligations

Finance Leases

The gross amount of assets held under finance leases as of December 31, 2023 and 2022 totaled $679.9 million and $720.1 million, respectively. Assets held under finance leases, net of accumulated depreciation, totaled $473.3 million and $535.3 million as of December 31, 2023 and 2022, respectively. Depreciation expense associated with finance leases totaled $103.0 million, $91.7 million and $80.1 million for the years ended December 31, 2023, 2022 and 2021, respectively.

Operating Leases

Operating lease additions for the years ended December 31, 2023, 2022 and 2021 totaled $224.6 million, $119.1 million and $172.9 million, respectively. Acquisition-related additions totaled $32.4 million and $149.3 million, respectively, for the years ended December 31, 2022 and 2021.

For the years ended December 31, 2023, 2022 and 2021, rent expense for leases that have terms in excess of one year totaled approximately $162.1 million, $134.1 million and $107.7 million, respectively, of which $15.8 million, $11.1 million and $10.1 million, respectively, represented variable lease costs. The Company also incurred rent expense for leases with terms of one year or less totaling approximately $608.2 million, $377.8 million and $494.7 million for the years ended December 31, 2023, 2022, and 2021, respectively. Rent expense for operating leases is generally consistent with the amount of the related payments, which payments are included within operating activities in the consolidated statements of cash flows.

Additional Lease Information

Future minimum lease commitments as of December 31, 2023 were as follows (in millions):


	Finance Leases		Operating Leases
2024	$	156.5	$	152.2
2025	119.4		126.2
2026	61.6		90.4
2027	21.4		46.6
2028	3.0		20.5
Thereafter	0.1		36.7
Total minimum lease payments	$	362.0	$	472.6
Less amounts representing interest	(20.2)		(41.9)
Total lease obligations, net of interest	$	341.8	$	430.7
Less current portion	144.2		137.8
Long-term portion of lease obligations, net of interest	$	197.6	$	292.9

As of December 31, 2023 and 2022, finance leases had a weighted average remaining lease term of 2.6 years and 2.8 years, respectively, and a weighted average discount rate of 4.7% and 4.0%, respectively, and as of December 31, 2023 and 2022, non-cancelable operating leases had a weighted average remaining lease term of 3.8 years and 4.5 years, respectively, and a weighted average discount rate of 4.8% and 3.6%, respectively.

Lease Obligations

Finance Leases

Operating Leases

Additional Lease Information

Future minimum lease commitments as of December 31, 2023 were as follows (in millions):


	Finance Leases		Operating Leases
2024	$	156.5	$	152.2
2025	119.4		126.2
2026	61.6		90.4
2027	21.4		46.6
2028	3.0		20.5
Thereafter	0.1		36.7
Total minimum lease payments	$	362.0	$	472.6
Less amounts representing interest	(20.2)		(41.9)
Total lease obligations, net of interest	$	341.8	$	430.7
Less current portion	144.2		137.8
Long-term portion of lease obligations, net of interest	$	197.6	$	292.9

Segments and Related Information - Schedule of Financial Information by Reportable Segment - Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue:
Revenue (in dollars)	$ 11,995,934	$ 9,778,038	$ 7,951,781
Communications \| Customer Concentration Risk \| Revenue Benchmark \| Utilities
Revenue:
Concentration risk, percentage of total	24.30%	23.60%	20.80%
Reportable Segments \| Communications
Revenue:
Revenue (in dollars)	$ 3,259,500	$ 3,233,700	$ 2,551,100
Reportable Segments \| Clean Energy and Infrastructure
Revenue:
Revenue (in dollars)	3,962,000	2,618,600	1,865,000
Reportable Segments \| Power Delivery
Revenue:
Revenue (in dollars)	2,735,100	2,725,200	1,016,800
Reportable Segments \| Oil and Gas
Revenue:
Revenue (in dollars)	2,072,800	1,219,600	2,540,500
Reportable Segments \| Other
Revenue:
Revenue (in dollars)	0	0	0
Eliminations
Revenue:
Revenue (in dollars)	$ (33,500)	$ (19,100)	$ (21,600)

Business, Basis of Presentation and Significant Accounting Policies - Goodwill and Indefinite-Lived Intangible Assets (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) yr reportingComponent reportingUnit	Dec. 31, 2022 USD ($) yr reportingUnit	Dec. 31, 2021 USD ($) yr reportingUnit
Goodwill [Line Items]
Goodwill	$ 2,126,366	$ 2,045,041	$ 1,520,600
Goodwill
Goodwill [Line Items]
Discount rate sensitivity analysis, spread on discount rate for which evaluation was completed (percentage)	1.00%	1.00%	1.00%
Terminal Growth Rate
Goodwill [Line Items]
Goodwill impairment testing, measurement input	0.030	0.030
Discount Rate
Goodwill [Line Items]
Goodwill impairment testing, measurement input		0.130
Maximum \| Terminal Growth Rate
Goodwill [Line Items]
Goodwill impairment testing, measurement input			0.030
Maximum \| Number of Years of Discounted Cash Flows
Goodwill [Line Items]
Goodwill impairment testing, measurement input \| yr	9	9	9
Maximum \| Discount Rate
Goodwill [Line Items]
Goodwill impairment testing, measurement input	0.140		0.150
Minimum \| Terminal Growth Rate
Goodwill [Line Items]
Goodwill impairment testing, measurement input			0.025
Minimum \| Number of Years of Discounted Cash Flows
Goodwill [Line Items]
Goodwill impairment testing, measurement input \| yr	6	5	5
Minimum \| Discount Rate
Goodwill [Line Items]
Goodwill impairment testing, measurement input	0.105		0.105
Clean Energy and Infrastructure, Communications and Oil And Gas
Goodwill [Line Items]
Goodwill impairment testing, number of reporting units \| reportingUnit	1
Oil and Gas
Goodwill [Line Items]
Goodwill impairment testing, number of reporting units \| reportingUnit	1	4	4
Goodwill	$ 466,700	$ 465,500	$ 436,600
Oil and Gas \| One Reporting Unit
Goodwill [Line Items]
Goodwill		$ 37,500
Goodwill impairment testing, reporting unit, percentage of estimated fair value in excess of carrying value (percentage)		14.00%
Power Delivery
Goodwill [Line Items]
Number of reporting components \| reportingComponent	3
Goodwill impairment testing, number of reporting units \| reportingUnit	1	1
Goodwill	$ 270,800	$ 270,100	$ 303,400
Clean Energy and Infrastructure
Goodwill [Line Items]
Goodwill impairment testing, number of reporting units \| reportingUnit	3	1	1
Goodwill	$ 742,000	$ 703,300	$ 166,100
Communications
Goodwill [Line Items]
Goodwill impairment testing, number of reporting units \| reportingUnit			3
Goodwill	$ 646,900	$ 606,100	$ 614,500

CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Preferred stock, par value (in dollars per share)	$ 1.00	$ 1.00
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized (in shares)	145,000,000	145,000,000
Common stock, shares issued (in shares)	99,093,134	98,615,105
Treasury stock, shares (in shares)	19,813,055	19,933,055
Common Stock
Common stock, shares issued (in shares)	99,093,134	98,615,105
Restricted Stock \| Common Stock
Unvested stock awards (in shares)	1,504,996	2,047,130

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 529,561	$ 370,592
Accounts receivable, net of allowance	1,370,074	1,399,732
Contract assets	1,756,381	1,729,886
Inventories, net	108,146	117,969
Prepaid expenses	105,880	122,308
Other current assets	104,211	118,640
Total current assets	3,974,253	3,859,127
Property and equipment, net	1,651,462	1,754,101
Operating lease right-of-use assets	418,685	279,534
Goodwill, net	2,126,366	2,045,041
Other intangible assets, net	784,260	946,299
Other long-term assets	418,485	409,157
Total assets	9,373,511	9,293,259
Current liabilities:
Current portion of long-term debt, including finance leases	177,246	171,916
Current portion of operating lease liabilities	137,765	96,516
Accounts payable	1,242,602	1,109,867
Accrued salaries and wages	198,943	181,888
Other accrued expenses	415,075	365,971
Contract liabilities	480,967	406,232
Other current liabilities	184,621	163,647
Total current liabilities	2,837,219	2,496,037
Long-term debt, including finance leases	2,888,058	3,052,193
Long-term operating lease liabilities	292,873	194,050
Deferred income taxes	390,399	571,401
Other long-term liabilities	243,701	238,391
Total liabilities	6,652,250	6,552,072
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 - 99,093,134 and 98,615,105 (including 1,504,996 and 2,047,130 of unvested stock awards) as of December 31, 2023 and 2022, respectively	9,909	9,862
Capital surplus	1,263,360	1,246,590
Retained earnings	2,145,793	2,195,742
Accumulated other comprehensive loss	(52,997)	(50,955)
Treasury stock, at cost: 19,813,055 and 19,933,055 shares as of December 31, 2023 and 2022, respectively	(659,913)	(663,910)
Total MasTec, Inc. shareholders’ equity	2,706,152	2,737,329
Non-controlling interests	15,109	3,858
Total equity	2,721,261	2,741,187
Total liabilities and equity	$ 9,373,511	$ 9,293,259

Fair Value of Financial Instruments - The Waha JVs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Equity method investments, equity in earnings (losses)	$ 30,697	$ 28,836	$ 33,830
Equity method investments, net investment	319,000	306,000
Unrealized gains (losses) on equity investee activity, net of tax	(3,737)	30,910	12,410
Waha JVs
Fair Value, Financial Instruments Measured on a Non-Recurring Basis [Line Items]
Equity method investments, equity in earnings (losses)	30,300	30,200	35,300
Equity method investments, distributions of earnings received, operating cash flows	15,400	14,400	7,700
Equity method investments, cumulative undistributed earnings	125,500
Equity method investments, net investment	274,000	263,000
Unrealized gains (losses) on equity investee activity, before tax	(5,000)	41,000	18,200
Unrealized gains (losses) on equity investee activity, net of tax	$ (3,700)	$ 30,900	$ 13,800

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Revenue	$ 11,995,934	$ 9,778,038	$ 7,951,781
Costs of revenue, excluding depreciation and amortization	10,613,762	8,586,333	6,805,735
Depreciation	433,929	371,240	345,612
Amortization of intangible assets	169,233	135,908	77,214
General and administrative expenses	698,899	559,437	306,970
Interest expense, net	234,405	112,255	53,413
Equity in earnings of unconsolidated affiliates, net	(30,697)	(28,836)	(33,830)
Other income, net	(40,893)	(1,358)	(33,408)
(Loss) income before income taxes	(82,704)	43,059	430,075
Benefit from (provision for) income taxes	35,408	(9,171)	(99,346)
Net (loss) income	(47,296)	33,888	330,729
Net income attributable to non-controlling interests	2,653	534	1,898
Net (loss) income attributable to MasTec, Inc.	$ (49,949)	$ 33,354	$ 328,831
(Loss) earnings per share (Note 2):
Basic (loss) earnings per share (in dollars per share)	$ (0.64)	$ 0.45	$ 4.54
Basic weighted average common shares outstanding (in shares)	77,535	74,917	72,499
Diluted (loss) earnings per share (in dollars per share)	$ (0.64)	$ 0.42	$ 4.45
Diluted weighted average common shares outstanding (in shares)	77,535	76,185	73,941

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

12 Months Ended

Dec. 31, 2023

Receivables [Abstract]

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,
	2023		2022
Contract billings	$	1,385.2	$	1,408.1
Less allowance	(15.1)		(8.4)
Accounts receivable, net of allowance	$	1,370.1	$	1,399.7

Retainage	$	356.4	$	401.9
Unbilled receivables	1,400.0		1,328.0
Contract assets	$	1,756.4	$	1,729.9

Contract billings represent the amount of performance obligations that have been billed but not yet collected, whereas contract assets consist of unbilled receivables and retainage. Unbilled receivables represent the estimated value of unbilled work for projects with performance obligations recognized over time. Unbilled receivables, which are included in contract assets, include amounts for work performed for which the Company has an unconditional right to receive payment and that are not subject to the completion of any other specific task, other than the billing itself. 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, which is 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. 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. As of December 31, 2023, 2022 and 2021, contract assets totaled approximately $1,756.4 million, $1,729.9 million and $1,227.9 million, respectively.

For the years ended December 31, 2023 and 2022, provisions for credit losses, including, in 2023, potential credit losses from specific receivables, totaled $9.5 million and $0.7 million, respectively and amounts charged against the allowance, including direct write-offs, totaled $2.8 million and $0.1 million, respectively. Impairment losses on contract assets were not material in any of the years ended December 31, 2023, 2022 or 2021.

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 $481.0 million, $406.2 million and $314.0 million as of December 31, 2023, 2022 and 2021, respectively, of which deferred revenue comprised approximately $475.2 million, $390.3 million and $296.1 million, respectively. The increase in contract liabilities as of December 31, 2023 was driven primarily by ordinary course project activity, including in connection with new project starts within the Company’s Clean Energy and Infrastructure segment. For the years ended December 31, 2023, 2022

and 2021, the Company recognized revenue of approximately $363.3 million, $270.7 million and $186.9 million, respectively, related to amounts that were included in deferred revenue as of December 31, 2022, 2021 and 2020, respectively, resulting primarily from the advancement of physical progress on the related projects during the respective periods.

The Company is party to certain non-recourse financing arrangements in the ordinary course of business, under which certain receivables are sold to a financial institution in return for a nominal fee. In certain instances, the Company continues to service the transferred receivable, for which the corresponding servicing assets or liabilities are not material. For the year ended December 31, 2023, the Company sold approximately $131 million of receivables under these programs, and as of December 31, 2023, the Company had approximately $64 million of outstanding sold receivables, which are excluded from Accounts Receivable, net of Allowance, in the consolidated balance sheets. The servicing of such receivables is not considered to constitute significant continuing involvement and the receivables are correspondingly accounted for as a sale under ASC Topic 860, “Transfers and Servicing.” Cash collections from such financing arrangements are reflected within operating activities in the consolidated statements of cash flows. The Company is also party to arrangements with certain customers that allow for early collection of receivables for a nominal fee, at the Company’s option. Discount charges related to all of the above described arrangements, which are included within interest expense, net, totaled approximately $12.9 million, $9.0 million and $3.2 million for the years ended December 31, 2023, 2022 and 2021, respectively.

Segments and Related Information

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

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) Power Delivery; (4) Oil and Gas 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 primarily 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, government and other end-markets through the installation and construction of power generation facilities, primarily from clean energy and renewable sources, such as wind, solar, biomass, natural gas and hydrogen, as well as battery storage systems for renewable energy; various types of heavy civil and industrial infrastructure, including roads, bridges and rail; and environmental remediation services. The Power Delivery segment primarily serves the energy and utility industries through the engineering, construction and maintenance of power transmission and distribution infrastructure, including electrical and gas transmission lines, distribution network systems and substations; and environmental planning and compliance services. The Oil and Gas segment performs engineering, construction, maintenance and other services for pipeline infrastructure, including natural gas, water and carbon capture sequestration pipelines, as well as pipeline integrity and other services for the energy and utilities industries. The Other segment includes certain equity investees, the services of which may vary from those provided by the Company’s primary segments, as well as other small business units with activities in certain 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 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, including treasury and administration functions, including for legal and professional matters, including certain settlements, as well as changes in the fair value of Earn-outs, other liabilities and certain investments, acquisition-related transaction costs and other discrete items, including certain integration activities and debt transaction costs. Segment results include certain allocations of centralized costs such as general liability, medical and workers’ compensation insurance and certain information technology and interest costs, as well as certain discrete items, including certain acquisition and business integration and/or streamlining 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:	2023		2022		2021
Communications (a)	$	3,259.5	$	3,233.7	$	2,551.1
Clean Energy and Infrastructure	3,962.0		2,618.6		1,865.0
Power Delivery	2,735.1		2,725.2		1,016.8
Oil and Gas	2,072.8		1,219.6		2,540.5
Other	—		—		0.0
Eliminations	(33.5)		(19.1)		(21.6)
Consolidated revenue	$	11,995.9	$	9,778.0	$	7,951.8

(a) Revenue generated primarily by utilities customers represented 24.3%, 23.6% and 20.8% of Communications segment revenue for the years ended December 31, 2023, 2022 and 2021, respectively.


	For the Years Ended December 31,
EBITDA:	2023		2022		2021
Communications	$	269.2	$	327.1	$	269.5
Clean Energy and Infrastructure	132.4		102.8		75.0
Power Delivery	207.8		202.9		68.0
Oil and Gas	284.4		163.5		557.6
Other	25.0		31.8		33.8

Segment EBITDA	$	918.8	$	828.1	$	1,003.8

For the year ended December 31, 2023, Communications, Clean Energy and Infrastructure and Power Delivery EBITDA included $22.5 million, $37.1 million and $8.5 million, respectively, of acquisition and integration costs related to the Company’s recent acquisitions, and Corporate EBITDA included $3.8 million of such costs. For the year ended December 31, 2022, $4.7 million, $6.4 million, $39.0 million and $8.0 million of such costs were included within Communications, Clean Energy and Infrastructure, Power Delivery and Oil and Gas EBITDA, respectively, and Corporate EBITDA included $27.9 million of such costs. For the year ended December 31, 2021, Corporate EBITDA included $3.6 million of such acquisition and integration costs. Additionally, for the years ended December 31, 2023, 2022 and 2021, Corporate EBITDA included fair value losses related to an investment of $0.2 million, $7.7 million and $7.8 million, respectively, and for the years ended December 31, 2022 and 2021, Corporate EBITDA included bargain purchase gains of $0.2 million and $3.5 million, respectively. In addition, for the year ended December 31, 2022, Other segment EBITDA included $2.8 million of project gains from a proportionately consolidated non-controlled Canadian joint venture.


	For the Years Ended December 31,
EBITDA Reconciliation:	2023		2022		2021
(Loss) income before income taxes	$	(82.7)	$	43.1	$	430.1
Plus:
Interest expense, net	234.4		112.3		53.4
Depreciation	433.9		371.2		345.6
Amortization	169.2		135.9		77.2
Corporate EBITDA	163.9		165.6		97.5
Segment EBITDA	$	918.8	$	828.1	$	1,003.8


	For the Years Ended December 31,
Depreciation and Amortization:	2023		2022		2021
Communications	$	136.8	$	126.4	$	99.3
Clean Energy and Infrastructure	144.2		87.0		43.5
Power Delivery	158.9		147.8		61.5
Oil and Gas	152.9		134.6		207.8
Other	—		—		0.0
Corporate	10.4		11.3		10.7
Consolidated depreciation and amortization	$	603.2	$	507.1	$	422.8


	As of December 31,
Assets:	2023		2022		2021
Communications	$	2,332.2	$	2,378.6	$	2,100.9
Clean Energy and Infrastructure	2,978.8		2,979.9		1,067.0
Power Delivery	1,837.1		1,967.9		2,017.2
Oil and Gas	1,758.0		1,544.2		1,527.6
Other	305.0		297.3		238.1
Corporate	162.4		125.4		170.6
Consolidated segment assets	$	9,373.5	$	9,293.3	$	7,121.4


	For the Years Ended December 31,
Capital Expenditures:	2023		2022		2021
Communications	$	29.5	$	87.1	$	50.6
Clean Energy and Infrastructure	30.9		35.8		44.6
Power Delivery	50.8		83.4		13.0
Oil and Gas	76.0		49.0		55.7
Other	—		—		0.0
Corporate	5.7		8.0		6.2
Consolidated capital expenditures	$	192.9	$	263.4	$	170.1

Foreign Operations and Other. MasTec operates primarily in the United States and Canada, and, to a far lesser extent, the Caribbean, India and Mexico. Revenue derived from U.S. operations totaled $11.9 billion, $9.6 billion and $7.8 billion for the years ended December 31, 2023, 2022 and 2021, respectively, and revenue derived from foreign operations totaled $95.1 million, $149.9 million and $165.2 million for the respective periods. Revenue from foreign operations was derived primarily from the Company’s Canadian operations in its Oil and Gas segment. Long-lived assets held in the United States included property and equipment, net, of $1.6 billion, $1.7 billion and $1.4 billion as of December 31, 2023, 2022 and 2021, respectively, and for the Company’s businesses in foreign countries, totaled $17.5 million, $21.0 million and $24.5 million for the respective periods. Intangible assets and goodwill, net, related to the Company’s U.S. operations totaled approximately $2.9 billion, $3.0 billion and $2.1 billion as of December 31, 2023, 2022 and 2021, respectively. For the Company’s businesses in foreign countries, intangible assets and goodwill, net, totaled approximately $32.6 million, $35.5 million and $43.8 million as of December 31, 2023, 2022 and 2021, respectively. Substantially all of the Company’s long-lived and intangible assets and goodwill in foreign countries relate to its Canadian operations. As of both December 31, 2023 and 2022, amounts due from customers from which foreign revenue was derived accounted for approximately 1% of the Company’s consolidated net accounts receivable position, which is calculated as accounts receivable, net, less deferred revenue. As of December 31, 2021, such amounts accounted for approximately 2% of the Company’s consolidated net accounts receivable position. Revenue from governmental entities for the years ended December 31, 2023, 2022 and 2021 totaled approximately 11%, 7% and 5% of total revenue, respectively, substantially all of which was derived from the Company’s U.S. operations.

Significant Customers

No customer represented greater than 10% of the Company’s total consolidated revenue in either of the years ended December 31, 2023 or 2022. For the year ended December 31, 2021, revenue for Enbridge, Inc. represented 16% of the Company’s total consolidated revenue. The Company’s relationship with Enbridge, Inc. is based upon various construction contracts for pipeline activities, for which the related revenue is included within the Oil and Gas segment.

- 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
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Debt - Term Loan Facility (Details) $ in Thousands	12 Months Ended
Debt - Term Loan Facility (Details) $ in Thousands	Dec. 31, 2023 USD ($)	Dec. 31, 2022	Mar. 31, 2026 USD ($)	Mar. 31, 2024 USD ($)
6.625% Senior Notes \| Senior Notes
Debt Instrument [Line Items]
Fees and expenses incurred in connection with debt	$ 1,900
Unsecured Debt \| New Term Loan Facility, Three-Year Tranche \| Line of Credit
Debt Instrument [Line Items]
Debt instrument, face amount	$ 400,000
Debt instrument, term	3 years
Debt instrument, increase, accrued interest	6.833%	5.692%
Unsecured Debt \| New Term Loan Facility, Three-Year Tranche \| Line of Credit \| Minimum \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Line of credit facility, interest rate description	1.125%
Unsecured Debt \| New Term Loan Facility, Three-Year Tranche \| Line of Credit \| Minimum \| Base Rate
Debt Instrument [Line Items]
Line of credit facility, interest rate description	0.125%
Unsecured Debt \| New Term Loan Facility, Three-Year Tranche \| Line of Credit \| Maximum \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Line of credit facility, interest rate description	1.50%
Unsecured Debt \| New Term Loan Facility, Three-Year Tranche \| Line of Credit \| Maximum \| Base Rate
Debt Instrument [Line Items]
Line of credit facility, interest rate description	0.50%
Unsecured Debt \| New Term Loan Facility, Three-Year Tranche \| Credit Facility \| Minimum \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Line of credit facility, interest rate description	1.125%
Unsecured Debt \| New Term Loan Facility, Three-Year Tranche \| Credit Facility \| Minimum \| Base Rate
Debt Instrument [Line Items]
Line of credit facility, interest rate description	0.125%
Unsecured Debt \| New Term Loan Facility, Three-Year Tranche \| Credit Facility \| Maximum \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Line of credit facility, interest rate description	1.625%
Unsecured Debt \| New Term Loan Facility, Three-Year Tranche \| Credit Facility \| Maximum \| Base Rate
Debt Instrument [Line Items]
Line of credit facility, interest rate description	0.625%
Unsecured Debt \| New Term Loan Facility, Five-Year Tranche \| Line of Credit
Debt Instrument [Line Items]
Debt instrument, face amount	$ 300,000
Debt instrument, term	5 years
Debt instrument, increase, accrued interest	6.958%	5.817%
Unsecured Debt \| New Term Loan Facility, Five-Year Tranche \| Line of Credit \| Minimum \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Line of credit facility, interest rate description	1.25%
Unsecured Debt \| New Term Loan Facility, Five-Year Tranche \| Line of Credit \| Minimum \| Base Rate
Debt Instrument [Line Items]
Line of credit facility, interest rate description	0.25%
Unsecured Debt \| New Term Loan Facility, Five-Year Tranche \| Line of Credit \| Maximum \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Line of credit facility, interest rate description	1.625%
Unsecured Debt \| New Term Loan Facility, Five-Year Tranche \| Line of Credit \| Maximum \| Base Rate
Debt Instrument [Line Items]
Line of credit facility, interest rate description	0.625%
Unsecured Debt \| New Term Loan Facility, Five-Year Tranche \| Line of Credit \| Forecast
Debt Instrument [Line Items]
Debt instrument, quarterly installments			$ 7,500	$ 3,750
Unsecured Debt \| New Term Loan Facility \| Line of Credit
Debt Instrument [Line Items]
Debt instrument, face amount	$ 700,000
Consolidated leverage ratio, maximum	3.50
Consolidated interest coverage ratio, minimum	3.00
Unsecured Debt \| New Term Loan Facility \| Line of Credit \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Line of credit facility, interest rate description	1.00%
Unsecured Debt \| New Term Loan Facility \| Line of Credit \| Base Rate
Debt Instrument [Line Items]
Line of credit facility, interest rate description	0.50%
Unsecured Debt \| New Term Loan Facility \| Credit Facility \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Line of credit facility, interest rate description	1.00%
Unsecured Debt \| New Term Loan Facility \| Credit Facility \| Base Rate
Debt Instrument [Line Items]
Line of credit facility, interest rate description	0.50%
Unsecured Debt \| New Term Loan Facility, Acquisition Adjustment \| Line of Credit
Debt Instrument [Line Items]
Consolidated leverage ratio, maximum	4.00
Debt instrument, acquisition adjustment, maximum	$ 100,000
Bridge Facility and Term Loan Facility \| Credit Facility
Debt Instrument [Line Items]
Fees and expenses incurred in connection with debt	$ 2,900

Cover Page - USD ($) $ in Billions	12 Months Ended
Cover Page - USD ($) $ in Billions	Dec. 31, 2023	Feb. 27, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-08106
Entity Registrant Name	MasTec, Inc.
Entity Incorporation, State or Country Code	FL
Entity Tax Identification Number	65-0829355
Entity Address, Address Line One	800 S. Douglas Road, 12th Floor
Entity Address, City or Town	Coral Gables,
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33134
City Area Code	305
Local Phone Number	599-1800
Title of 12(b) Security	Common Stock, $0.10 Par Value
Trading Symbol	MTZ
Security Exchange Name	NYSE
Entity 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
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float (in dollars)			$ 7.1
Entity Common Stock, Shares Outstanding		79,281,638
Documents Incorporated by Reference	The registrant’s definitive proxy statement to be filed with the Securities and Exchange Commission pursuant to Regulation 14A for the 2024 annual meeting of shareholders is incorporated by reference in Part III of this Form 10-K to the extent stated herein.
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Entity Central Index Key	0000015615

Commitments and Contingencies - Other Commitments and Contingencies (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) constructionProject project customer	Dec. 31, 2022 USD ($)	Dec. 31, 2021	Dec. 31, 2023 CAD ($) constructionProject project	Dec. 31, 2022 CAD ($)
Commitments and Contingencies [Line Items]
Line of credit facility, letters of credit issued	$ 82,100,000	$ 166,700,000
Number of joint ventures \| constructionProject	5			5
Cash and cash equivalents	$ 529,561,000	370,592,000
Indemnities, accrued project close-out liabilities	$ 20,000,000	$ 40,000,000
Number of customers \| customer	1,635
Ten Largest Customers \| Revenue Benchmark \| Customer Concentration Risk
Commitments and Contingencies [Line Items]
Concentration risk, percentage of total	38.00%	39.00%	54.00%
One Customer \| Accounts Receivable, Net, Less Contract Liabilities \| Customer Concentration Risk
Commitments and Contingencies [Line Items]
Concentration risk, percentage of total	10.00%
Pension
Commitments and Contingencies [Line Items]
Payments for withdrawal obligation		$ 2,800,000
Gain recognized in other income related to acquisitions		500,000
Multiemployer plans, withdrawal obligation	$ 1,800,000	1,900,000
Pension \| Infrastructure Energy Alternatives, Inc.
Commitments and Contingencies [Line Items]
Monthly payment amount		10,000
Workers' Compensation, General and Automobile Policies \| Self-Insurance
Commitments and Contingencies [Line Items]
Self-insurance reserve	209,700,000	176,700,000
Workers' Compensation, General and Automobile Policies \| Self-Insurance \| Other Long-Term Liabilities
Commitments and Contingencies [Line Items]
Self-insurance reserve, non-current	141,000,000	109,300,000
Employee Group Medical Claims \| Self-Insurance
Commitments and Contingencies [Line Items]
Self-insurance reserve	4,100,000	4,100,000
Proportionately Consolidated Non-Controlled Joint Venture
Commitments and Contingencies [Line Items]
Payments for advance to affiliate	500,000	0
Cash and cash equivalents	$ 38,100,000	25,700,000
Proportionately Consolidated Non-Controlled Joint Venture \| Joint Ventures That Provide Electrical Transmission Infrastructure Services \| Minimum
Commitments and Contingencies [Line Items]
Proportionately consolidated non-controlled joint venture, ownership percentage	85.00%			85.00%
Proportionately Consolidated Non-Controlled Joint Venture \| Joint Ventures That Provide Electrical Transmission Infrastructure Services \| Maximum
Commitments and Contingencies [Line Items]
Proportionately consolidated non-controlled joint venture, ownership percentage	90.00%			90.00%
Proportionately Consolidated Non-Controlled Joint Venture \| Joint Venture Civil Construction Project \| Minimum
Commitments and Contingencies [Line Items]
Proportionately consolidated non-controlled joint venture, ownership percentage	25.00%			25.00%
Proportionately Consolidated Non-Controlled Joint Venture \| Joint Venture Civil Construction Project \| Maximum
Commitments and Contingencies [Line Items]
Proportionately consolidated non-controlled joint venture, ownership percentage	50.00%			50.00%
Proportionately Consolidated Non-Controlled Joint Venture \| Joint Venture, Pipeline Project
Commitments and Contingencies [Line Items]
Proportionately consolidated non-controlled joint venture, ownership percentage	49.00%			49.00%
Number of joint ventures \| project	1			1
Captive Insurance Company
Commitments and Contingencies [Line Items]
Cash and cash equivalents	$ 1,200,000	1,100,000
Performance and Payment Bonds
Commitments and Contingencies [Line Items]
Bonded projects, estimated costs to complete	1,600,000,000	1,700,000,000
Performance and Payment Bonds \| Proportionately Consolidated Non-Controlled Joint Venture
Commitments and Contingencies [Line Items]
Outstanding bonds, amount	7,300,000	7,100,000		$ 9.7	$ 9.7
Commercial and/or Financial Standby \| Workers' Compensation, General and Automobile Policies \| Self-Insurance
Commitments and Contingencies [Line Items]
Line of credit facility, letters of credit issued	9,600,000	95,600,000
Surety Bonds \| Workers' Compensation Policy \| Self-Insurance
Commitments and Contingencies [Line Items]
Outstanding bonds, amount	192,700,000	110,900,000
Subsidiaries \| Performance and Payment Bonds
Commitments and Contingencies [Line Items]
Outstanding bonds, amount	5,600,000,000	4,900,000,000
Subsidiaries \| Performance and Payment Bonds \| Proportionately Consolidated Non-Controlled Joint Venture
Commitments and Contingencies [Line Items]
Outstanding bonds, amount	$ 368,300,000	$ 115,800,000

Debt - Senior Credit Facility (Details) $ in Millions		1 Months Ended		12 Months Ended
Debt - Senior Credit Facility (Details) $ in Millions	Nov. 01, 2021	Mar. 31, 2025 USD ($)	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($) qtr instance	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
Line of credit facility, letters of credit issued				$ 82.1	$ 166.7
Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				2,250.0
Line of credit facility, letters of credit issued				$ 64.9	$ 143.1
Line of credit facility, unused facility fee (percentage)				0.225%	0.20%
Credit Facility \| Plan
Debt Instrument [Line Items]
Permitted acquisitions amount				$ 100.0
Credit Facility \| Minimum
Debt Instrument [Line Items]
Line of credit facility, commitment fee (percentage)	0.15%
Consolidated interest coverage ratio				3.00
Credit Facility \| Maximum
Debt Instrument [Line Items]
Line of credit facility, commitment fee (percentage)	0.225%
Maximum consolidated leverage ratio				3.50
Credit Facility \| Maximum \| Plan \| Permitted Acquisition
Debt Instrument [Line Items]
Maximum consolidated leverage ratio				4.00
Number of fiscal quarters subsequent to quarter in which right was exercised \| qtr				4
Number of times right may be exercised \| instance				2
Credit Facility \| Revolving loans
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				$ 1,900.0
Weighted average interest rate (percentage)				7.71%	5.82%
Line of credit facility, remaining borrowing capacity				$ 1,062.1	$ 860.9
Credit Facility \| Term loan
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				$ 350.0
Line of credit facility, term loan, amount of quarterly principal installment payments			$ 2.2
Line of credit facility, interest rate (percentage)				7.08%	5.80%
Credit Facility \| Term loan \| Forecast
Debt Instrument [Line Items]
Line of credit facility, term loan, amount of quarterly principal installment payments		$ 4.4
Credit Facility \| Sublimit in Foreign Denominations
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				$ 300.0
Long-term line of credit				0.0	$ 0.0
Credit Facility \| Letters of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				650.0
Line of credit facility, capacity available for letters of credit				$ 585.1	$ 506.9
Credit Facility \| Letters of Credit \| Commercial and/or Financial Standby
Debt Instrument [Line Items]
Line of credit facility, interest rate (percentage)				1.625%	1.375%
Credit Facility \| Letters of Credit \| Performance Standby
Debt Instrument [Line Items]
Line of credit facility, interest rate (percentage)				0.6875%	0.5625%
Credit Facility \| Letters of Credit \| Minimum \| Commercial and/or Financial Standby
Debt Instrument [Line Items]
Line of credit facility, interest rate (percentage)	1.125%
Credit Facility \| Letters of Credit \| Minimum \| Performance Standby
Debt Instrument [Line Items]
Line of credit facility, interest rate (percentage)	0.3125%
Credit Facility \| Letters of Credit \| Maximum \| Commercial and/or Financial Standby
Debt Instrument [Line Items]
Line of credit facility, interest rate (percentage)	1.625%
Credit Facility \| Letters of Credit \| Maximum \| Performance Standby
Debt Instrument [Line Items]
Line of credit facility, interest rate (percentage)	0.6875%
Credit Facility \| Letter of Credit in Alternative Currencies
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				$ 200.0
Credit Facility \| Swing Line Loans
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				$ 125.0
Credit Facility \| Unsecured Debt \| Base Rate \| New Term Loan Facility
Debt Instrument [Line Items]
Line of credit facility, interest rate description				0.50%
Credit Facility \| Unsecured Debt \| Secured Overnight Financing Rate (SOFR) \| New Term Loan Facility
Debt Instrument [Line Items]
Line of credit facility, interest rate description				1.00%
Credit Facility \| Unsecured Debt \| Minimum \| Base Rate \| New Term Loan Facility, Three-Year Tranche
Debt Instrument [Line Items]
Line of credit facility, interest rate description				0.125%
Credit Facility \| Unsecured Debt \| Minimum \| Secured Overnight Financing Rate (SOFR) \| New Term Loan Facility, Three-Year Tranche
Debt Instrument [Line Items]
Line of credit facility, interest rate description				1.125%
Credit Facility \| Unsecured Debt \| Maximum \| Base Rate \| New Term Loan Facility, Three-Year Tranche
Debt Instrument [Line Items]
Line of credit facility, interest rate description				0.625%
Credit Facility \| Unsecured Debt \| Maximum \| Secured Overnight Financing Rate (SOFR) \| New Term Loan Facility, Three-Year Tranche
Debt Instrument [Line Items]
Line of credit facility, interest rate description				1.625%
Line of Credit \| Performance Standby
Debt Instrument [Line Items]
Line of credit facility, letters of credit issued				$ 17.2	$ 23.6
Line of Credit \| Letters of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				$ 50.0
Line of Credit \| Letters of Credit \| Performance Standby
Debt Instrument [Line Items]
Line of credit facility, interest rate (percentage)				0.90%	0.75%
Line of Credit \| Unsecured Debt \| Base Rate \| New Term Loan Facility
Debt Instrument [Line Items]
Line of credit facility, interest rate description				0.50%
Line of Credit \| Unsecured Debt \| Secured Overnight Financing Rate (SOFR) \| New Term Loan Facility
Debt Instrument [Line Items]
Line of credit facility, interest rate description				1.00%
Line of Credit \| Unsecured Debt \| Minimum \| Base Rate \| New Term Loan Facility, Three-Year Tranche
Debt Instrument [Line Items]
Line of credit facility, interest rate description				0.125%
Line of Credit \| Unsecured Debt \| Minimum \| Secured Overnight Financing Rate (SOFR) \| New Term Loan Facility, Three-Year Tranche
Debt Instrument [Line Items]
Line of credit facility, interest rate description				1.125%
Line of Credit \| Unsecured Debt \| Maximum \| Base Rate \| New Term Loan Facility, Three-Year Tranche
Debt Instrument [Line Items]
Line of credit facility, interest rate description				0.50%
Line of Credit \| Unsecured Debt \| Maximum \| Secured Overnight Financing Rate (SOFR) \| New Term Loan Facility, Three-Year Tranche
Debt Instrument [Line Items]
Line of credit facility, interest rate description				1.50%

Lease Obligations - Finance Leases (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Finance leases, assets, gross	$ 679.9	$ 720.1
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property and equipment, net	Property and equipment, net
Finance leases, assets, net	$ 473.3	$ 535.3
Finance leases, assets, depreciation	$ 103.0	$ 91.7	$ 80.1

Earnings Per Share - Schedule of Earnings Per Share Information (Details) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Net (loss) income attributable to MasTec:
Net (loss) income - basic	$ (49,949)	$ 33,354	$ 328,831
Fair value gain related to resolved contingent payments	0	1,682	0
Net (loss) income -diluted	$ (49,949)	$ 31,672	$ 328,831
Weighted average shares outstanding:
Weighted average shares outstanding - basic (in shares)	77,535	74,917	72,499
Dilutive common stock equivalents (in shares)	0	1,268	1,442
Weighted average shares outstanding - diluted (in shares)	77,535	76,185	73,941

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 5
-Subparagraph (SAB Topic 6.B)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-5

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-10

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-11

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

+ Details

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities, and addition from assumption of issuance of common shares for dilutive potential common shares; of income (loss) available to common shareholders.

+ References + Details

Other Retirement Plans - Narrative (Details)	12 Months Ended
Other Retirement Plans - Narrative (Details)	Dec. 31, 2023
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%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 55
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480547/715-80-55-8

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480576/715-80-50-6

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480576/715-80-50-6

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480576/715-80-50-11

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480576/715-80-50-11

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480576/715-80-50-11

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 35
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480606/715-80-35-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480576/715-80-50-11

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480576/715-80-50-5

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480576/715-80-50-5

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480576/715-80-50-5

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480576/715-80-50-5

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480576/715-80-50-5

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480576/715-80-50-5

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480576/715-80-50-5

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480576/715-80-50-5

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480576/715-80-50-5

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480576/715-80-50-9

Reference 19: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 80
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480576/715-80-50-6

+ Details

Income Taxes - Schedule of Effective Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
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%	8.80%	4.30%
Foreign tax rate differential	(1.80%)	1.30%	0.10%
Non-deductible expenses	(14.60%)	(1.60%)	0.30%
Goodwill and intangible assets	1.80%	(0.70%)	0.40%
Change in tax rate	(5.60%)	12.70%	1.60%
Compensation and benefits	6.20%	6.70%	(0.20%)
Other	1.40%	(8.00%)	1.00%
Tax credits	24.70%	(37.90%)	(4.80%)
Stock basis adjustment	4.90%	0.00%	(0.90%)
Valuation allowance for deferred tax assets	0.50%	19.00%	0.30%
Effective income tax rate	42.80%	21.30%	23.10%

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

12 Months Ended

Dec. 31, 2023

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,
	2023		2022
Contract billings	$	1,385.2	$	1,408.1
Less allowance	(15.1)		(8.4)
Accounts receivable, net of allowance	$	1,370.1	$	1,399.7

Retainage	$	356.4	$	401.9
Unbilled receivables	1,400.0		1,328.0
Contract assets	$	1,756.4	$	1,729.9

Business, Basis of Presentation and Significant Accounting Policies - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) segment	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Business, Basis Of Presentation And Significant Accounting Policies [Line Items]
Number of reportable segments \| segment	5
Cash held by proportionately consolidated entities	$ 529,561	$ 370,592
Variable interest entity, maximum loss exposure	23,000	24,000
Variable interest entity, maximum exposure to loss	35,000	37,000
Deferred financing costs, net of accumulated amortization	13,500	17,600
Amortization of deferred financing costs	4,100	3,600	$ 3,200
Financing costs incurred		2,800	6,000
Acquisition costs	3,000	17,000	$ 7,000
Self-Insurance \| Workers' Compensation Policy
Business, Basis Of Presentation And Significant Accounting Policies [Line Items]
Per claim deductible, insurance policies	2,000
Self-Insurance \| General Liability Policy
Business, Basis Of Presentation And Significant Accounting Policies [Line Items]
Per claim deductible, insurance policies	10,000
Self-Insurance \| Employee Group Medical Claims Policy
Business, Basis Of Presentation And Significant Accounting Policies [Line Items]
Loss contingency, maximum loss per employee	600
Proportionately Consolidated Non-Controlled Joint Venture
Business, Basis Of Presentation And Significant Accounting Policies [Line Items]
Cash held by proportionately consolidated entities	$ 38,100	$ 25,700
Maximum
Business, Basis Of Presentation And Significant Accounting Policies [Line Items]
Lease, term of contract	15 years
Maximum \| Equipment Leases
Business, Basis Of Presentation And Significant Accounting Policies [Line Items]
Lease, renewal term	5 years
Maximum \| Facility Leases
Business, Basis Of Presentation And Significant Accounting Policies [Line Items]
Lease, renewal term	5 years
Minimum \| Equipment Leases
Business, Basis Of Presentation And Significant Accounting Policies [Line Items]
Lease, renewal term	1 year
Minimum \| Facility Leases
Business, Basis Of Presentation And Significant Accounting Policies [Line Items]
Lease, renewal term	1 year

Acquisitions, Goodwill and Other Intangible Assets, Net - Rollforward of Goodwill by Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill [Line Items]
Goodwill, gross	$ 2,245,700		$ 1,645,300
Accumulated impairment loss	(119,300)		(124,700)
Goodwill, net	2,126,366	$ 2,045,041	1,520,600
Goodwill [Roll Forward]
Goodwill, net, beginning balance	2,045,041	1,520,600
Additions from new business combinations	41,400	544,700
Measurement period adjustments	39,600	(19,300)
Currency translation adjustments	400	(1,000)
Goodwill, net, ending balance	2,126,366	2,045,041	1,520,600
Deferred Tax Liabilities
Goodwill [Roll Forward]
Measurement period adjustments	(36,000)
Contingent Liabilities
Goodwill [Roll Forward]
Measurement period adjustments	28,000
Property, Plant And Equipment, Net
Goodwill [Roll Forward]
Measurement period adjustments	10,000
Depreciation Expense
Goodwill [Roll Forward]
Measurement period adjustments	6,000
Revenues
Goodwill [Roll Forward]
Measurement period adjustments	35,000
Cost of Goods and Service, Excluding Depreciation, Depletion, and Amortization
Goodwill [Roll Forward]
Measurement period adjustments	8,000
Communications
Goodwill [Line Items]
Goodwill, gross	646,900		614,500
Accumulated impairment loss	0		0
Goodwill, net	646,900	606,100	614,500
Goodwill [Roll Forward]
Goodwill, net, beginning balance	606,100	614,500
Additions from new business combinations	41,400	3,000
Measurement period adjustments	(600)	(11,400)
Currency translation adjustments	0	0
Goodwill, net, ending balance	646,900	606,100	614,500
Clean Energy and Infrastructure
Goodwill [Line Items]
Goodwill, gross	742,000		166,100
Accumulated impairment loss	0		0
Goodwill, net	742,000	703,300	166,100
Goodwill [Roll Forward]
Goodwill, net, beginning balance	703,300	166,100
Additions from new business combinations	0	535,200
Measurement period adjustments	38,700	2,000
Currency translation adjustments	0	0
Goodwill, net, ending balance	742,000	703,300	166,100
Power Delivery
Goodwill [Line Items]
Goodwill, gross	270,800		303,400
Accumulated impairment loss	0		0
Goodwill, net	270,800	270,100	303,400
Goodwill [Roll Forward]
Goodwill, net, beginning balance	270,100	303,400
Additions from new business combinations	0	1,900
Measurement period adjustments	700	(35,200)
Currency translation adjustments	0	0
Goodwill, net, ending balance	270,800	270,100	303,400
Oil and Gas
Goodwill [Line Items]
Goodwill, gross	586,000		561,300
Accumulated impairment loss	(119,300)		(124,700)
Goodwill, net	466,700	465,500	436,600
Goodwill [Roll Forward]
Goodwill, net, beginning balance	465,500	436,600
Additions from new business combinations	0	4,600
Measurement period adjustments	800	25,300
Currency translation adjustments	400	(1,000)
Goodwill, net, ending balance	$ 466,700	$ 465,500	$ 436,600

Related Party Transactions - Split Dollar Agreements (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Chairman, Board of Directors
Related Party Transaction [Line Items]
Payments for life insurance policies	$ 0.7	$ 1.1	$ 1.1
Chief Executive Officer
Related Party Transaction [Line Items]
Payments for life insurance policies	0.7	0.7	$ 0.7
Executive Officers
Related Party Transaction [Line Items]
Life insurance assets, carrying amount	27.2	$ 25.8
Maximum \| Chairman, Board of Directors
Related Party Transaction [Line Items]
Life insurance, face amount	200.0
Maximum \| Chief Executive Officer
Related Party Transaction [Line Items]
Life insurance, face amount	$ 75.0

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

12 Months Ended

Dec. 31, 2023

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, 2021	1,748,685	$	43.73
Granted	613,364	74.37
Vested	(235,164)	48.33
Canceled/forfeited	(77,605)	44.84
Non-vested restricted shares, as of December 31, 2022	2,049,280	$	52.33
Granted	738,935	62.03
Vested	(1,134,687)	32.89
Canceled/forfeited	(147,532)	56.26
Non-vested restricted shares, as of December 31, 2023	1,505,996	$	71.35

(a) Includes 1,000, 2,150 and 1,300 restricted stock units as of December 31, 2023, 2022 and 2021, respectively.

Acquisitions, Goodwill and Other Intangible Assets, Net - Schedule of Expected Future Amortization Expense (Details) $ in Millions	Dec. 31, 2023 USD ($)
Amortization Expense
2024	$ 133.6
2025	109.8
2026	90.8
2027	81.8
2028	68.8
Thereafter	265.0
Total	$ 749.8

Property and Equipment, Net - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property and Equipment [Line Items]
Total property and equipment	$ 3,559,300	$ 3,311,400
Less accumulated depreciation and amortization	(1,907,800)	(1,557,300)
Property and equipment, net	1,651,462	1,754,101
Land
Property and Equipment [Line Items]
Total property and equipment	68,500	73,500
Buildings and leasehold improvements
Property and Equipment [Line Items]
Total property and equipment	$ 90,700	86,700
Buildings and leasehold improvements \| Minimum
Property and Equipment [Line Items]
Estimated Useful Lives (in years)	3 years
Buildings and leasehold improvements \| Maximum
Property and Equipment [Line Items]
Estimated Useful Lives (in years)	40 years
Machinery, equipment and vehicles
Property and Equipment [Line Items]
Total property and equipment	$ 3,013,900	2,797,000
Machinery, equipment and vehicles \| Minimum
Property and Equipment [Line Items]
Estimated Useful Lives (in years)	2 years
Machinery, equipment and vehicles \| Maximum
Property and Equipment [Line Items]
Estimated Useful Lives (in years)	20 years
Office equipment, furniture and internal-use software
Property and Equipment [Line Items]
Total property and equipment	$ 330,200	286,800
Office equipment, furniture and internal-use software \| Minimum
Property and Equipment [Line Items]
Estimated Useful Lives (in years)	3 years
Office equipment, furniture and internal-use software \| Maximum
Property and Equipment [Line Items]
Estimated Useful Lives (in years)	7 years
Construction in progress
Property and Equipment [Line Items]
Total property and equipment	$ 56,000	$ 67,400

Stock-Based Compensation and Other Employee Benefit Plans

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

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 8,541,000 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, 2023, there were approximately 2,247,000 shares available for future grant.

Non-cash stock-based compensation expense under all plans totaled approximately $33.3 million, $27.4 million and $24.8 million for the years ended December 31, 2023, 2022 and 2021, respectively. Income tax benefits associated with stock-based compensation arrangements totaled $17.3 million, $5.9 million and $8.5 million for the years ended December 31, 2023, 2022 and 2021, respectively, including net tax benefits related to the vesting of share-based payment awards totaling approximately $11.0 million, $0.9 million and $3.8 million, respectively.

Restricted Shares

MasTec grants restricted stock awards and restricted stock units (together, “restricted shares”) to eligible participants, which are valued based on the closing market share price of MasTec common stock (the “market price”) on the date of grant. During the restriction period, holders of restricted stock awards are entitled to vote the shares. As of December 31, 2023, total unearned compensation related to restricted shares was approximately $62.0 million, which amount 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 approximately $98.4 million, $19.7 million and $37.4 million for the years ended December 31, 2023, 2022 and 2021, respectively.


Activity, restricted shares: (a)	Restricted Shares	Per Share Weighted Average Grant Date Fair Value
Non-vested restricted shares, as of December 31, 2021	1,748,685	$	43.73
Granted	613,364	74.37
Vested	(235,164)	48.33
Canceled/forfeited	(77,605)	44.84
Non-vested restricted shares, as of December 31, 2022	2,049,280	$	52.33
Granted	738,935	62.03
Vested	(1,134,687)	32.89
Canceled/forfeited	(147,532)	56.26
Non-vested restricted shares, as of December 31, 2023	1,505,996	$	71.35

(a) Includes 1,000, 2,150 and 1,300 restricted stock units as of December 31, 2023, 2022 and 2021, respectively.

Employee Stock Purchase Plans. For the years ended December 31, 2023, 2022 and 2021, 119,450 shares, 112,341 shares and 86,510 shares, respectively, were purchased by participants under the Company’s ESPPs for $8.5 million, $7.4 million and $7.0 million, respectively, which shares were delivered with shares reacquired by the Company on the open market. Compensation expense associated with the Company’s ESPPs totaled approximately $1.5 million, $1.3 million and $1.2 million for the years ended December 31, 2023, 2022 and 2021, respectively.

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, 2023, 2022 and 2021, matching contributions totaled approximately $36.1 million, $30.2 million and $23.1 million, respectively.

Deferred Compensation Plans. MasTec offers a deferred compensation plan to eligible 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. The Company also has remaining obligations under other deferred compensation plans, primarily related to acquired companies. Total deferred compensation plan assets, which are included within other long-term assets in the consolidated balance sheets, totaled $26.0 million and $21.3 million as of December 31, 2023 and 2022, respectively. Total deferred compensation plan liabilities, which are included within other long-term liabilities in the consolidated balance sheets, totaled $32.7 million and $26.1 million as of December 31, 2023 and 2022, respectively.

Property and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2023

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,
	2023		2022		Estimated Useful Lives (in years)
Land	$	68.5	$	73.5
Buildings and leasehold improvements	90.7		86.7		3	-	40
Machinery, equipment and vehicles	3,013.9		2,797.0		2	-	20
Office equipment, furniture and internal-use software	330.2		286.8		3	-	7
Construction in progress	56.0		67.4
Total property and equipment	$	3,559.3	$	3,311.4
Less accumulated depreciation and amortization	(1,907.8)		(1,557.3)
Property and equipment, net	$	1,651.5	$	1,754.1

Fair Value of Financial Instruments - Senior Notes (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
4.50% Senior Notes
Fair Value Disclosure of Liabilities Not Measured at Fair Value [Line Items]
Senior notes, gross carrying amount	$ 600.0	$ 600.0
4.50% Senior Notes \| Senior Notes
Fair Value Disclosure of Liabilities Not Measured at Fair Value [Line Items]
Debt instrument, interest rate (percentage)	4.50%
Senior notes, estimated fair value	$ 565.2	534.0
6.625% Senior Notes
Fair Value Disclosure of Liabilities Not Measured at Fair Value [Line Items]
Senior notes, gross carrying amount	$ 284.2	281.2
6.625% Senior Notes \| Senior Notes
Fair Value Disclosure of Liabilities Not Measured at Fair Value [Line Items]
Debt instrument, interest rate (percentage)	6.625%
Senior notes, estimated fair value	$ 273.9	$ 280.5

Other Retirement Plans - Schedule of Covered Employees and Contributions, Multiemployer Plans (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) employee	Dec. 31, 2022 USD ($) employee	Dec. 31, 2021 USD ($) employee
Covered Employees and Contributions, Multiemployer Plans [Line Items]
Total multiemployer pension plan contributions	$ 177.5	$ 145.3	$ 128.1
Low
Covered Employees and Contributions, Multiemployer Plans [Line Items]
Multiemployer plans, covered employees (in number of employees) \| employee	6,806	6,601	2,412
High
Covered Employees and Contributions, Multiemployer Plans [Line Items]
Multiemployer plans, covered employees (in number of employees) \| employee	11,025	7,136	6,979
Pension
Covered Employees and Contributions, Multiemployer Plans [Line Items]
Total multiemployer pension plan contributions	$ 118.4	$ 89.0	$ 94.0
Other Multiemployer
Covered Employees and Contributions, Multiemployer Plans [Line Items]
Total multiemployer pension plan contributions	$ 59.1	$ 56.3	$ 34.1

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Property and Equipment, Net

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

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,
	2023		2022		Estimated Useful Lives (in years)
Land	$	68.5	$	73.5
Buildings and leasehold improvements	90.7		86.7		3	-	40
Machinery, equipment and vehicles	3,013.9		2,797.0		2	-	20
Office equipment, furniture and internal-use software	330.2		286.8		3	-	7
Construction in progress	56.0		67.4
Total property and equipment	$	3,559.3	$	3,311.4
Less accumulated depreciation and amortization	(1,907.8)		(1,557.3)
Property and equipment, net	$	1,651.5	$	1,754.1

As of December 31, 2023 and 2022, the gross amount of capitalized internal-use software totaled $212.7 million and $186.6 million, respectively, and, net of accumulated amortization, totaled $49.8 million and $39.9 million, respectively. During the second quarter of 2023, the depreciable lives of certain assets were updated on a prospective basis to better align the respective assets’ lives with their expected useful lives, based on management’s assessment of the physical and economic factors of the related assets. The effect of this update was a decrease in depreciation expense of approximately $6.2 million for the year ended December 31, 2023. 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 $4.4 million and $14.2 million as of December 31, 2023 and 2022, respectively.

Stock-Based Compensation and Other Employee Benefit Plans - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Stock-Based Compensation and Other Employee Benefit Plans [Line Items]
Stock-based compensation plans, number of shares available for future grant (in shares)	2,247,000
Non-cash stock-based compensation expense	$ 33.3	$ 27.4	$ 24.8
Stock-based compensation, income tax benefits	17.3	5.9	8.5
Stock-based compensation, vested awards, net income tax benefits	$ 11.0	$ 0.9	$ 3.8
2013 Incentive Plan \| Restricted Shares
Stock-Based Compensation and Other Employee Benefit Plans [Line Items]
Share-based compensation, number of shares authorized (in shares)	8,541,000
ESPPs \| Employee Stock Purchase Plans
Stock-Based Compensation and Other Employee Benefit Plans [Line Items]
Share-based compensation, number of shares authorized (in shares)	3,000,000

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net Income (Loss)	$ (49,949)	$ 33,354	$ 328,831

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-8

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-9

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 13: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480167/946-830-55-10

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483581/946-220-45-7

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(9))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(1)(d))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

Reference 32: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-7

Reference 35: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482740/230-10-45-28

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1A

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1B

Reference 38: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 39: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

Accounts Receivable, Net of Allowance, and Contract Assets and Liabilities - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Accounts Receivable, Net of Allowance, and Contract Assets and Liabilities [Line Items]
Retainage, expected collection period (in years)	1 year
Contract assets	$ 1,756,381	$ 1,729,886	$ 1,227,900
Accounts receivable, credit loss expense (reversal)	9,500	700
Amounts charged against the allowance	2,800	100
Contract liabilities	480,967	406,232	314,000
Contract with customer liability deferred revenue current	475,200	390,300	296,100
Deferred revenue, revenue recognized	363,300	270,700	186,900
Non-recourse financing agreement, discount charge	(234,405)	(112,255)	(53,413)
Receivables, Non-Recourse Arrangement
Schedule of Accounts Receivable, Net of Allowance, and Contract Assets and Liabilities [Line Items]
Proceeds from sale of receivables	131,000
Value of receivables sold	64,000
Non-recourse financing agreement, discount charge	$ (12,900)	$ (9,000)	$ (3,200)
Minimum
Schedule of Accounts Receivable, Net of Allowance, and Contract Assets and Liabilities [Line Items]
Retainage, percentage of contract billings	5.00%
Maximum
Schedule of Accounts Receivable, Net of Allowance, and Contract Assets and Liabilities [Line Items]
Retainage, percentage of contract billings	10.00%

Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule II - Valuation and Qualifying Accounts [Roll Forward]
Balance at Beginning of Period	$ 213.0	$ 158.8	$ 116.7
Charges to Cost and Expense	49.5	23.6	79.2
Other Additions	0.0	69.9	0.0
(Deductions)	(104.0)	(39.3)	(37.1)
Balance at End of Period	158.5	213.0	158.8
Allowance for credit losses
Schedule II - Valuation and Qualifying Accounts [Roll Forward]
Balance at Beginning of Period	8.4	7.8	20.5
Charges to Cost and Expense	12.7	2.6	2.8
Other Additions	0.0	0.0	0.0
(Deductions)	(6.0)	(2.0)	(15.5)
Balance at End of Period	15.1	8.4	7.8
Allowance for unbilled receivables and project close-out liabilities
Schedule II - Valuation and Qualifying Accounts [Roll Forward]
Balance at Beginning of Period	117.0	96.8	50.4
Charges to Cost and Expense	34.0	9.4	67.0
Other Additions	0.0	40.3	0.0
(Deductions)	(68.0)	(29.5)	(20.6)
Balance at End of Period	83.0	117.0	96.8
Valuation allowance for deferred tax assets
Schedule II - Valuation and Qualifying Accounts [Roll Forward]
Balance at Beginning of Period	87.6	54.2	45.8
Charges to Cost and Expense	2.8	11.6	9.4
Other Additions	0.0	29.6	0.0
(Deductions)	(30.0)	(7.8)	(1.0)
Balance at End of Period	$ 60.4	$ 87.6	$ 54.2

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Components of Income before Income Taxes

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


	For the Years Ended December 31,
	2023		2022		2021
Domestic	$	(84.9)	$	66.7	$	414.1
Foreign	2.2		(23.6)		16.0
Total	$	(82.7)	$	43.1	$	430.1

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,
	2023		2022		2021
Current:
Federal	$	90.2	$	(9.8)	$	36.9
Foreign	1.8		3.6		1.5
State and local	13.5		5.8		9.0
	$	105.5	$	(0.4)	$	47.4
Deferred:
Federal	$	(119.7)	$	5.9	$	37.0
Foreign	(0.1)		0.6		(0.1)
State and local	(21.1)		3.1		15.0
	$	(140.9)	$	9.6	$	51.9
(Benefit from) provision for income taxes	$	(35.4)	$	9.2	$	99.3

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,
	2023		2022
Deferred tax assets:
Accrued insurance	$	51.2	$	40.9
Operating loss carryforwards and tax credits	87.5		115.4
Compensation and benefits	34.9		36.9
Bad debt	3.8		2.0

Other	24.4		36.4
Capitalized expenses	243.7		110.3
Valuation allowance	(60.4)		(87.6)
Total deferred tax assets	$	385.1	$	254.3
Deferred tax liabilities:
Property and equipment	$	345.9	$	375.7
Goodwill	95.0		91.3
Other intangible assets	96.7		131.4
Gain on remeasurement of equity investee	7.3		7.3
Revenue recognition	81.3		84.6
Investments in unconsolidated entities	113.3		109.3
Other	36.0		26.1
Total deferred tax liabilities	$	775.5	$	825.7
Net deferred tax liabilities	$	(390.4)	$	(571.4)

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,
	2023		2022		2021
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		8.8		4.3
Foreign tax rate differential	(1.8)		1.3		0.1
Non-deductible expenses	(14.6)		(1.6)		0.3
Goodwill and intangible assets	1.8		(0.7)		0.4
Change in tax rate	(5.6)		12.7		1.6
Compensation and benefits	6.2		6.7		(0.2)
Other	1.4		(8.0)		1.0
Tax credits	24.7		(37.9)		(4.8)
Stock basis adjustment	4.9		0.0		(0.9)
Valuation allowance for deferred tax assets	0.5		19.0		0.3
Effective income tax rate	42.8	%	21.3	%	23.1	%

Rollforward of Uncertain Tax Positions

A reconciliation of the beginning and ending amount of uncertain tax positions, excluding interest and penalties, follows in the table below (in millions). Previously, the reconciliation for uncertain tax positions included interest and penalties. Management believes that the current presentation is a better representation of this activity. Prior period information has been updated to conform with the current year presentation.


	For the Years Ended December 31,
	2023		2022		2021
Beginning balance	$	39.3	$	21.4	$	15.8
Additions based on tax positions related to the current year	16.6		8.0		4.4
Additions for tax positions of prior years	9.5		15.9		4.8

Settlements	—		—		(2.8)
Lapse of statute of limitations	(4.5)		(6.0)		(0.8)
Ending balance	$	60.9	$	39.3	$	21.4

Segments and Related Information - Schedule of Financial Information by Reportable Segment - Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Assets:
Consolidated segment assets	$ 9,373,511	$ 9,293,259	$ 7,121,400
Reportable Segments \| Communications
Assets:
Consolidated segment assets	2,332,200	2,378,600	2,100,900
Reportable Segments \| Clean Energy and Infrastructure
Assets:
Consolidated segment assets	2,978,800	2,979,900	1,067,000
Reportable Segments \| Power Delivery
Assets:
Consolidated segment assets	1,837,100	1,967,900	2,017,200
Reportable Segments \| Oil and Gas
Assets:
Consolidated segment assets	1,758,000	1,544,200	1,527,600
Reportable Segments \| Other
Assets:
Consolidated segment assets	305,000	297,300	238,100
Corporate
Assets:
Consolidated segment assets	$ 162,400	$ 125,400	$ 170,600

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (bb)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481203/810-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 25
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481231/810-10-45-25

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481372/852-10-55-10

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480167/946-830-55-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(12))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(8))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(18))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 23: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481404/852-10-50-7

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 26: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(11))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1

+ Details

Earnings Per Share - Narrative (Details) - shares	1 Months Ended	12 Months Ended
Earnings Per Share - Narrative (Details) - shares	Dec. 31, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Business Combinations [Line Items]
Basic weighted average common shares outstanding (in shares)		77,535,000	74,917,000	72,499,000
Anti-dilutive common stock (in shares)		1,100,000	255,000	159,000
Dilutive common stock equivalents (in shares)		0	1,268,000	1,442,000
Treasury stock acquired (in shares)		0	1,124,000	0
Effect of share repurchases, decrease in weighted average shares outstanding (in shares)			731,000
Former Owner Of Acquired Business
Business Combinations [Line Items]
Basic weighted average common shares outstanding (in shares)		88,000	127,000
Dilutive common stock equivalents (in shares)		0	105,000
IEA
Business Combinations [Line Items]
Business acquisition, number of shares issued (in shares)			2,758,000
Increase in number of shares issued (in shares)			637,000
IEA \| Warrant
Business Combinations [Line Items]
Anti-dilutive common stock (in shares)			29,200
HMG
Business Combinations [Line Items]
Business acquisition, number of shares issued (in shares)	1,975,000	2,000,000	133,000
2023 Acquisitions, Infrastructure Energy Alternatives, Inc.
Business Combinations [Line Items]
Business acquisition, number of shares issued (in shares)		4,000

Segments and Related Information (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Schedule of Financial Information by Reportable Segment


	For the Years Ended December 31,
Revenue:	2023		2022		2021
Communications (a)	$	3,259.5	$	3,233.7	$	2,551.1
Clean Energy and Infrastructure	3,962.0		2,618.6		1,865.0
Power Delivery	2,735.1		2,725.2		1,016.8
Oil and Gas	2,072.8		1,219.6		2,540.5
Other	—		—		0.0
Eliminations	(33.5)		(19.1)		(21.6)
Consolidated revenue	$	11,995.9	$	9,778.0	$	7,951.8

(a) Revenue generated primarily by utilities customers represented 24.3%, 23.6% and 20.8% of Communications segment revenue for the years ended December 31, 2023, 2022 and 2021, respectively.


	For the Years Ended December 31,
EBITDA:	2023		2022		2021
Communications	$	269.2	$	327.1	$	269.5
Clean Energy and Infrastructure	132.4		102.8		75.0
Power Delivery	207.8		202.9		68.0
Oil and Gas	284.4		163.5		557.6
Other	25.0		31.8		33.8

Segment EBITDA	$	918.8	$	828.1	$	1,003.8


	For the Years Ended December 31,
Depreciation and Amortization:	2023		2022		2021
Communications	$	136.8	$	126.4	$	99.3
Clean Energy and Infrastructure	144.2		87.0		43.5
Power Delivery	158.9		147.8		61.5
Oil and Gas	152.9		134.6		207.8
Other	—		—		0.0
Corporate	10.4		11.3		10.7
Consolidated depreciation and amortization	$	603.2	$	507.1	$	422.8


	As of December 31,
Assets:	2023		2022		2021
Communications	$	2,332.2	$	2,378.6	$	2,100.9
Clean Energy and Infrastructure	2,978.8		2,979.9		1,067.0
Power Delivery	1,837.1		1,967.9		2,017.2
Oil and Gas	1,758.0		1,544.2		1,527.6
Other	305.0		297.3		238.1
Corporate	162.4		125.4		170.6
Consolidated segment assets	$	9,373.5	$	9,293.3	$	7,121.4


	For the Years Ended December 31,
Capital Expenditures:	2023		2022		2021
Communications	$	29.5	$	87.1	$	50.6
Clean Energy and Infrastructure	30.9		35.8		44.6
Power Delivery	50.8		83.4		13.0
Oil and Gas	76.0		49.0		55.7
Other	—		—		0.0
Corporate	5.7		8.0		6.2
Consolidated capital expenditures	$	192.9	$	263.4	$	170.1

Reconciliation of Consolidated Income before Income Taxes to EBITDA


	For the Years Ended December 31,
EBITDA Reconciliation:	2023		2022		2021
(Loss) income before income taxes	$	(82.7)	$	43.1	$	430.1
Plus:
Interest expense, net	234.4		112.3		53.4
Depreciation	433.9		371.2		345.6
Amortization	169.2		135.9		77.2
Corporate EBITDA	163.9		165.6		97.5
Segment EBITDA	$	918.8	$	828.1	$	1,003.8

Stock-Based Compensation and Other Employee Benefit Plans - Schedule of Activity, Restricted Shares (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Restricted Shares
Restricted Shares
Non-vested restricted shares, beginning balance (in shares)	2,049,280	1,748,685
Granted (in shares)	738,935	613,364
Vested (in shares)	(1,134,687)	(235,164)
Canceled/forfeited (in shares)	(147,532)	(77,605)
Non-vested restricted shares, ending balance (in shares)	1,505,996	2,049,280
Per Share Weighted Average Grant Date Fair Value
Non-vested restricted shares, beginning balance (in dollars per share)	$ 52.33	$ 43.73
Granted (in dollars per share)	62.03	74.37
Vested (in dollars per share)	32.89	48.33
Canceled/forfeited (in dollars per share)	56.26	44.84
Non-vested restricted shares, ending balance (in dollars per share)	$ 71.35	$ 52.33
Restricted Stock Units
Restricted Shares
Non-vested restricted shares, beginning balance (in shares)	2,150	1,300
Non-vested restricted shares, ending balance (in shares)	1,000	2,150

Income Taxes - Schedule of Components of Income before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Domestic	$ (84,900)	$ 66,700	$ 414,100
Foreign	2,200	(23,600)	16,000
(Loss) income before income taxes	$ (82,704)	$ 43,059	$ 430,075

- Definition

+ References

+ Details

Debt - IEA 6.625% Notes (Details) - USD ($)		12 Months Ended
Debt - IEA 6.625% Notes (Details) - USD ($)	Oct. 07, 2022	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Long-term debt obligations			$ 0
Senior Notes \| Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Debt instrument, redemption price (percentage)	106.625%
Debt instrument, redemption price, percentage of principal amount redeemed	40.00%
6.625% Senior Notes
Debt Instrument [Line Items]
Senior notes, gross carrying amount		$ 284,200,000	281,200,000
6.625% Senior Notes \| Senior Notes
Debt Instrument [Line Items]
Long-term debt obligations	$ 300,000,000	$ 284,200,000	281,200,000
Debt instrument, interest rate (percentage)		6.625%
Debt instrument, ownership percentage		30.00%
6.625% Senior Notes \| Senior Notes \| Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Debt instrument, redemption price (percentage)	100.00%
6.625% Senior Notes \| Senior Notes \| Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Debt instrument, redemption price (percentage)	103.30%
Debt instrument, term	2 years
6.625% Senior Notes \| Senior Notes \| Debt Instrument, Redemption, Period Four
Debt Instrument [Line Items]
Debt instrument, redemption price (percentage)	101.00%
IEA Senior Notes
Debt Instrument [Line Items]
Senior notes, gross carrying amount		$ 225,100,000
IEA Senior Notes \| Senior Notes
Debt Instrument [Line Items]
Long-term debt obligations		213,300,000	211,100,000
Mastec Senior Notes
Debt Instrument [Line Items]
Senior notes, gross carrying amount		74,900,000
Mastec Senior Notes \| Senior Notes
Debt Instrument [Line Items]
Long-term debt obligations		$ 70,900,000	$ 70,100,000

Fair Value of Financial Instruments	12 Months Ended
Fair Value of Financial Instruments	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	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 certain mandatorily redeemable non-controlling interests (together, “Earn-outs”), that are contingent upon the acquired businesses achieving certain levels of earnings in the future. In 2023, the Company acquired the remaining interests of an entity with which it had a mandatorily redeemable non-controlling interest arrangement. As of December 31, 2023 and 2022, the estimated fair value of the Company’s Earn-out liabilities totaled $77.4 million and $127.4 million, respectively, of which $13.9 million related to the aforementioned mandatorily redeemable non-controlling interests as of December 31, 2022. Earn-out liabilities included within other current liabilities totaled approximately $29.8 million and $37.7 million as of December 31, 2023 and 2022, respectively. The fair values of the Company’s Earn-out liabilities are estimated using income approaches such as discounted cash flows or option pricing models, both of which incorporate significant inputs not observable in the market (Level 3 inputs), including management’s estimates and entity-specific assumptions, and are evaluated on an ongoing basis. Key assumptions include the discount rate, which was 13.0% as of December 31, 2023, 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, 2023, the range of potential undiscounted Earn-out liabilities was estimated to be between $22 million and $87 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, 2023, 2022 and 2021, additions from new business combinations totaled approximately $1.4 million, $2.8 million and $101.6 million, respectively. There were no measurement period adjustments in either of the years ended December 31, 2023 or 2021, and for the year ended December 31, 2022, measurement period adjustments totaled an increase, net, of approximately $3.3 million and related to a net increase in the Company’s Oil and Gas segment, partially offset by a decrease in its Communications segment. For the year ended December 31, 2023, fair value adjustments totaled a decrease, net, of approximately $12.6 million and related to a net decrease in the Company’s Communications segment, partially offset by net increases, primarily within the Company’s Clean Energy and Infrastructure and Power Delivery segments. The decrease in the Communications segment for the year ended December 31, 2023 included a reduction of approximately $12.3 million related to mandatorily redeemable non-controlling interests. Fair value adjustments totaled a decrease, net, of approximately $1.2 million for the year ended December 31, 2022, and related primarily to the Company’s Communications segment. For the year ended December 31, 2021, fair value adjustments totaled a decrease, net, of approximately $29.5 million and related to net decreases in the Company’s Oil and Gas and Clean Energy and Infrastructure segments, partially offset by a net increase within the Company’s Communications segment. The net increase in the Communications segment for the year ended December 31, 2021 included the effect of a reduction of approximately $2.8 million related to mandatorily redeemable non-controlling interests. For the year ended December 31, 2023, Earn-out payments totaled approximately $38.8 million, including approximately $1.7 million related to mandatorily redeemable non-controlling interests, and, for the years ended December 31, 2022 and 2021, Earn-out payments totaled approximately $37.8 million and $47.0 million, respectively. Equity Investments The Company’s equity investments as of December 31, 2023 include: (i) the Company’s 33% equity interests in Trans-Pecos Pipeline, LLC (“TPP”) and Comanche Trail Pipeline, LLC (“CTP,” and together with TPP, the “Waha JVs”); (ii) a 15% equity interest in Cross Country Infrastructure Services, Inc. (“CCI”); (iii) the Company’s 50% equity interests in each of FM Technology Holdings, LLC, FM USA Holdings, LLC and All Communications Solutions Holdings, LLC, collectively “FM Tech”; (iv) the Company’s interests in certain proportionately consolidated non-controlled contractual joint ventures; and (v) certain other equity investments. As of December 31, 2023 and 2022, the aggregate carrying value of the Company’s equity investments, including equity investments measured on an adjusted cost basis, totaled approximately $319 million and $306 million, respectively. As of December 31, 2023 and 2022, equity investments measured on an adjusted cost basis, including the Company’s $15 million investment in CCI, totaled approximately $18 million and $20 million, respectively. Except for one investment for which the Company recorded an impairment loss totaling approximately $3 million in the third quarter of 2023, there were no impairments related to these investments in any of the years ended December 31, 2023, 2022 or 2021. The Waha JVs. The Waha JVs own and operate certain pipeline infrastructure that transports natural gas to the Mexican border for export. The Company’s investments in the Waha JVs are accounted for as equity method investments. Equity in earnings related to the Company’s proportionate share of income from the Waha JVs, which is included within the Company’s Other segment, totaled approximately $30.3 million, $30.2 million and $35.3 million for the years ended December 31, 2023, 2022 and 2021, respectively. Distributions of earnings from the Waha JVs, which are included within operating cash flows, totaled $15.4 million, $14.4 million and $7.7 million for the years ended December 31, 2023, 2022 and 2021, respectively. Cumulative undistributed earnings from the Waha JVs, which represents cumulative equity in earnings for the Waha JVs less distributions of earnings, totaled $125.5 million as of December 31, 2023. 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 $274 million and $263 million as of December 31, 2023 and 2022, 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 year ended December 31, 2023 the Company’s proportionate share of unrecognized unrealized activity on the Waha JV swaps totaled losses of approximately $5.0 million, or $3.7 million, net of tax, and for the years ended December 31, 2022 and 2021, such activity totaled gains of approximately $41.0 million and $18.2 million, respectively, or $30.9 million and $13.8 million, net of tax, respectively. Other Investments. The Company has equity interests in certain telecommunications entities that are accounted for as equity method investments. As of both December 31, 2023 and 2022, the Company had an aggregate investment of approximately $21 million in these entities, including $18 million for FM Tech as of both periods. The investment in FM Tech provides for additional funding upon the resolution of certain contingencies, which could range up to $7 million as of December 31, 2023. The fair value of the remaining contingent payments for FM Tech, which are included within other current liabilities, was estimated to be $3 million as of both December 31, 2023 and 2022. For the year ended December 31, 2023, the Company made no equity contributions related to its investments in telecommunications entities, and for the years ended December 31, 2022 and 2021, equity contributions totaled approximately $1 million and $2 million, respectively. Equity in earnings, net, related to the Company’s proportionate share of income from these telecommunications entities totaled approximately $0.4 million for the year ended December 31, 2023, and for the years ended December 31, 2022 and 2021, equity in losses, net, totaled approximately $0.3 million and $0.7 million, respectively. The difference between the carrying amount of these investments and the Company’s underlying equity in the net assets of the respective entities relates primarily to equity method goodwill associated with assembled workforce for each of these entities. Certain of these telecommunications entities provide services to MasTec. Expense recognized in connection with services provided by these entities totaled approximately $1.8 million, $7.6 million and $9.9 million for the years ended December 31, 2023, 2022 and 2021, respectively. As of December 31, 2023 and 2022, related amounts payable to these entities totaled approximately $0.1 million and $0.2 million, respectively. In addition, the Company had an employee leasing arrangement with one of these entities and has advanced certain amounts to these entities. There were no employee lease expenses for the year ended December 31, 2023, and advances to these entities totaled approximately $0.7 million for the period. For the years ended December 31, 2022 and 2021, employee lease expenses and advances totaled approximately $3.3 million and $0.2 million, respectively. As of December 31, 2023 and 2022, receivables related to these arrangements totaled approximately $4.0 million and $3.8 million, respectively. The Company has 49% equity interests in certain entities included within its Communications and Power Delivery segments that are accounted for as equity method investments, for which its aggregate investment as of both December 31, 2023 and 2022 totaled approximately $3 million. For the years ended December 31, 2023 and 2022, equity in losses, net, related to these entities totaled approximately $0.2 million and $0.4 million, respectively, and there was no activity related to these entities for the year ended December 31, 2021. The above described entities provide construction services to MasTec. Expense recognized in connection with construction services provided by these entities totaled approximately $0.9 million and $6.6 million for the years ended December 31, 2023 and 2022, respectively, and related amounts payable were de minimis as of both periods. In addition, the Company provides line of credit arrangements to these entities, which, as of December 31, 2023 and 2022, provide for up to $3.0 million and $4.5 million, respectively, of borrowing availability. There were no borrowings as of December 31, 2023, and as of December 31, 2022, $0.6 million was drawn, which amount was included within other current assets in the consolidated balance sheets. The Company has a 75% equity interest in Confluence Networks, LLC (“Confluence”), an undersea fiber-optic communications systems developer and VIE. As of December 31, 2023, a total of $2.1 million of the $2.5 million initial commitment had been funded, of which $0.2 million was funded during both the years ended December 31, 2023 and 2022, and of which $1.7 million was funded during the year ended December 31, 2021. Equity in losses related to this entity totaled approximately $0.2 million, $0.4 million and $0.7 million for the years ended December 31, 2023, 2022 and 2021, respectively. MasTec has less than a majority of the members on the board of Confluence, and, therefore, does not have a majority voting interest, nor does it have a controlling financial interest. As a result, management has determined that MasTec does not have the power to direct the primary activities that most significantly impact the economic performance of Confluence, nor is it the primary beneficiary. The Company does, however, have the ability to exert significant influence over Confluence as of December 31, 2023, and as a result, accounts for this investment as an equity method investment. The Company also had certain equity investments in American Virtual Cloud Technologies, Inc. (“AVCT”), in which the Company had no active involvement. AVCT filed for bankruptcy in the first quarter of 2023, during which period the Company wrote-off its remaining $0.2 million investment. Senior Notes As of both December 31, 2023 and 2022, the gross carrying amount of the Company’s 4.50% senior notes due August 15, 2028 (the “4.50% Senior Notes”) totaled $600.0 million, and their estimated fair value totaled approximately $565.2 million and $534.0 million for the respective periods. As of December 31, 2023 and 2022, the gross carrying amount of the Company’s 6.625% senior notes due August 15, 2029 (the “6.625% Senior Notes”) totaled $284.2 million and $281.2 million, respectively, and their estimated fair value totaled approximately $273.9 million and $280.5 million for the respective periods. The estimated fair values of the Company’s 4.50% Senior Notes and 6.625% Senior Notes were determined based on an exit price approach using Level 1 inputs.

- 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

Segments and Related Information - Schedule of Significant Customers, Revenue Concentration Information (Details) - Customer Concentration Risk - Revenue Benchmark	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Enbridge, Inc.
Revenue, Significant Customer [Line Items]
Concentration risk, percentage of total			16.00%
Customers Representing 10% Or More Of Company
Revenue, Significant Customer [Line Items]
Concentration risk, percentage of total	0.00%	0.00%

Income Taxes - Rollforward of Uncertain Tax Positions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Uncertain Tax Positions [Rollforward]
Beginning balance	$ 39.3	$ 21.4	$ 15.8
Additions based on tax positions related to the current year	16.6	8.0	4.4
Additions for tax positions of prior years	9.5	15.9	4.8
Settlements	0.0	0.0	(2.8)
Lapse of statute of limitations	(4.5)	(6.0)	(0.8)
Ending balance	$ 60.9	$ 39.3	$ 21.4

Income Taxes

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Income Taxes

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


	For the Years Ended December 31,
	2023		2022		2021
Domestic	$	(84.9)	$	66.7	$	414.1
Foreign	2.2		(23.6)		16.0
Total	$	(82.7)	$	43.1	$	430.1

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


	For the Years Ended December 31,
	2023		2022		2021
Current:
Federal	$	90.2	$	(9.8)	$	36.9
Foreign	1.8		3.6		1.5
State and local	13.5		5.8		9.0
	$	105.5	$	(0.4)	$	47.4
Deferred:
Federal	$	(119.7)	$	5.9	$	37.0
Foreign	(0.1)		0.6		(0.1)
State and local	(21.1)		3.1		15.0
	$	(140.9)	$	9.6	$	51.9
(Benefit from) provision for income taxes	$	(35.4)	$	9.2	$	99.3

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,
	2023		2022
Deferred tax assets:
Accrued insurance	$	51.2	$	40.9
Operating loss carryforwards and tax credits	87.5		115.4
Compensation and benefits	34.9		36.9
Bad debt	3.8		2.0

Other	24.4		36.4
Capitalized expenses	243.7		110.3
Valuation allowance	(60.4)		(87.6)
Total deferred tax assets	$	385.1	$	254.3
Deferred tax liabilities:
Property and equipment	$	345.9	$	375.7
Goodwill	95.0		91.3
Other intangible assets	96.7		131.4
Gain on remeasurement of equity investee	7.3		7.3
Revenue recognition	81.3		84.6
Investments in unconsolidated entities	113.3		109.3
Other	36.0		26.1
Total deferred tax liabilities	$	775.5	$	825.7
Net deferred tax liabilities	$	(390.4)	$	(571.4)

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, 2023 and 2022 are related primarily to foreign and state 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 $24.7 million and $21.4 million as of December 31, 2023 and 2022, 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 $59.2 million and $87.9 million as of December 31, 2023 and 2022, respectively. The Canadian net operating loss carryforwards, which make up the majority of the foreign net operating loss carryforwards, begin to expire in 2034. As of December 31, 2023, the Company had no deferred tax assets for its federal net operating loss carryforwards. As of December 31, 2022, deferred tax assets for its federal net operating loss carryforwards totaled approximately $2.5 million.

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 Tax Cuts and Jobs Act of 2017. 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,
	2023		2022		2021
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		8.8		4.3
Foreign tax rate differential	(1.8)		1.3		0.1
Non-deductible expenses	(14.6)		(1.6)		0.3
Goodwill and intangible assets	1.8		(0.7)		0.4
Change in tax rate	(5.6)		12.7		1.6
Compensation and benefits	6.2		6.7		(0.2)
Other	1.4		(8.0)		1.0
Tax credits	24.7		(37.9)		(4.8)
Stock basis adjustment	4.9		0.0		(0.9)
Valuation allowance for deferred tax assets	0.5		19.0		0.3
Effective income tax rate	42.8	%	21.3	%	23.1	%


	For the Years Ended December 31,
	2023		2022		2021
Beginning balance	$	39.3	$	21.4	$	15.8
Additions based on tax positions related to the current year	16.6		8.0		4.4
Additions for tax positions of prior years	9.5		15.9		4.8

Settlements	—		—		(2.8)
Lapse of statute of limitations	(4.5)		(6.0)		(0.8)
Ending balance	$	60.9	$	39.3	$	21.4

The Company classifies interest, penalties and recoveries related to uncertain tax positions as a component of income tax expense in the consolidated statements of operations. For the years ended December 31, 2023, 2022 and 2021, interest and penalties totaled approximately $2.6 million, $0.7 million and $0.1 million, respectively. Accrued interest and penalties related to uncertain tax positions were $5.9 million and $3.1 million as of December 31, 2023 and 2022, respectively. The effect on the Company’s tax rate if it were to recognize its gross unrecognized tax benefits as of December 31, 2023 approximates $66.8 million, including interest and penalties. While it is possible that there could be audit settlements and/or lapses in certain statutes of limitation relating to uncertain tax positions, management has determined that it is too difficult to predict the outcome of such matters.

The IRS has examined the Company’s federal income tax returns through 2017. 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, 2023, the Company is no longer subject to state examinations by taxing authorities for years before 2015.

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Related Party Transactions - Narrative (Details) shares in Thousands, $ in Millions	3 Months Ended			12 Months Ended
	Mar. 31, 2024 USD ($)	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($) shares	Dec. 31, 2023 USD ($) employee	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2023 CAD ($) employee	Dec. 31, 2022 CAD ($)
Related Party Transaction [Line Items]
Revenue				$ 11,995,934,000	$ 9,778,038,000	$ 7,951,781,000
Accounts receivable, net of allowance				1,370,074,000	1,399,732,000
Equity method investments, net investment				$ 319,000,000	306,000,000
Ownership interest				25.00%			25.00%
Consideration transferred				$ 3,700,000	900,000
Equity method investments, equity contributions				300,000
Negative equity method investment				1,200,000	200,000
Line of credit facility, letters of credit issued				82,100,000	166,700,000
Payments of acquisition-related contingent consideration				21,638,000	35,149,000	21,675,000
Outstanding receivable				$ 418,485,000	409,157,000
Noncontrolling interest, percentage of voting interests acquired				15.00%			15.00%
Payments to noncontrolling interests				$ 14,478,000	728,000	$ 8,965,000
2021 Acquisitions
Related Party Transaction [Line Items]
Noncontrolling interest, percentage of voting interests acquired						15.00%
Payments to noncontrolling interests						$ 6,800,000
2023 Acquisitions
Related Party Transaction [Line Items]
Business acquisition, number of shares issued (in shares) \| shares			120
Payments to noncontrolling interests			$ 10,000,000
2023 Acquisitions \| Oil and Gas
Related Party Transaction [Line Items]
Business acquisition, equity interest issued or issuable, value assigned			$ 11,600,000
Subcontracting Arrangements \| Subsequent Event
Related Party Transaction [Line Items]
Payments to acquire ownership interest in minority interest	$ 700,000
Construction Services
Related Party Transaction [Line Items]
Payments of acquisition-related contingent consideration		$ 16,100,000
Management
Related Party Transaction [Line Items]
Financing receivable				7,100,000
Outstanding receivable				$ 6,900,000
Interest rate				5.00%			5.00%
Management \| Subcontracting Arrangements
Related Party Transaction [Line Items]
Payments, related party				$ 8,700,000	200,000	90,300,000
Number of management members, subcontracting arrangement \| employee				2			2
Charges, related party				$ 800,000
Management \| Subcontracting Arrangements \| Line of Credit
Related Party Transaction [Line Items]
Line of credit facility, letters of credit issued				15,000,000
Management \| Subcontracting Arrangements \| 2021 Acquisitions
Related Party Transaction [Line Items]
Payments, related party				5,400,000	1,500,000
Revenue				163,200,000	128,400,000
Receivables, related party				57,700,000	42,000,000
Management \| Subcontracting Arrangement Two
Related Party Transaction [Line Items]
Receivables, net of deferred revenue, related party					2,300,000
Immediate Family Member of Management \| Equipment \| CCI
Related Party Transaction [Line Items]
Payments, net of rebates, related party				7,300,000	4,000,000	23,200,000
Immediate Family Member of Management \| Construction Services
Related Party Transaction [Line Items]
Percentage of earn out payment paid		25.00%
Chairman, Board of Directors \| Leases
Related Party Transaction [Line Items]
Payments, related party				2,700,000	2,600,000	2,600,000
Executive Officers \| Former Owner
Related Party Transaction [Line Items]
Receivables, related party				2,600,000	2,000,000
Equity method investments, net investment				600,000	1,500,000	1,500,000
Executive Officers \| Construction Services
Related Party Transaction [Line Items]
Payments, related party				1,200,000	500,000	600,000
Payables, related party				0	0
Payments, net of rebates, related party				$ 10,700,000
Proportionately Consolidated Non-Controlled Joint Venture \| Canadian Joint Venture
Related Party Transaction [Line Items]
Proportionately consolidated non-controlled joint venture, ownership percentage				35.00%			35.00%
Proportionately Consolidated Non-Controlled Joint Venture \| Performance and Payment Bonds
Related Party Transaction [Line Items]
Outstanding bonds, amount				$ 7,300,000	7,100,000		$ 9.7	$ 9.7
Related Party \| Equipment, Supplies And Services
Related Party Transaction [Line Items]
Payments, related party				42,500,000	35,000,000	81,200,000
Payables, related party				2,700,000	2,600,000
Revenue				14,000,000	10,400,000	4,200,000
Liability				(400,000)
Receivables, related party					3,200,000
Related Party \| Equipment
Related Party Transaction [Line Items]
Revenue				0	300,000
Related Party \| Equipment \| CCI
Related Party Transaction [Line Items]
Payables, related party				4,600,000	600,000
Accounts receivable, net of allowance				0
Related Party \| Subcontracting Arrangements
Related Party Transaction [Line Items]
Payables, related party				1,100,000	300,000
Revenue					1,100,000	1,200,000
Receivables, related party				400,000	400,000
Charges, related party					$ 800,000	$ 800,000
Related Party \| Leases
Related Party Transaction [Line Items]
Payables, related party				200,000
Related Party \| Construction Services
Related Party Transaction [Line Items]
Receivables, related party				4,100,000
Related Customer \| Subcontracting Arrangements
Related Party Transaction [Line Items]
Payables, related party				$ 3,100,000

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies MasTec is subject to a variety of legal cases, claims and other disputes that arise from time to time in the ordinary course of its business, including project contract price and other project disputes, other project-related liabilities and acquisition purchase price disputes. MasTec cannot provide assurance that it will be successful in recovering all or any of the potential damages it has claimed or in defending claims against the Company. The outcome of such cases, claims and disputes cannot be predicted with certainty and an unfavorable resolution of one or more of them could have a material adverse effect on the Company’s business, financial condition, results of operations and cash flows. Acquired Legacy Solar Matter. On April 28, 2023, a jury found IEA, its subsidiary, IEA Constructors, LLC (“IEAC” and, together with IEA, the “IEA Entities”), and IEAC’s customer, Silicon Ranch Corporation (“SRC”), liable to plaintiffs H&L Farms LLC (“H&L Farms”), Shaun Harris and Amie Harris following a trial in the U.S. District Court for the Middle District of Georgia, Columbus Division (the “Court”). The suit, filed in August 2021, arose out of a project that commenced in 2021 involving the construction by IEAC of a solar farm for SRC. The project was constructed on SRC’s property located adjacent to a 1,400 acre tract of land that plaintiffs purchased in March 2021 for approximately $3.3 million. The plaintiffs brought various causes of action under Georgia law, including trespass, nuisance and negligence, arising out of the defendants’ alleged failure to exercise appropriate efforts to prevent and remediate soil erosion and sedimentary run-off that flowed from SRC’s property into a 21-acre lake on plaintiffs’ property. Following trial, the jury awarded Mr. and Mrs. Harris $4.5 million each for loss of use and enjoyment of the lake and awarded H&L Farms (the legal owner) another $1.5 million in remediation costs. These damages were apportioned 30% to SRC, 40% to IEA and 30% to IEAC. The jury also awarded $25 million in punitive damages against SRC and $50 million in punitive damages against each of the IEA Entities. The Court entered judgment on the verdict and issued an injunction requiring the defendants to eliminate the transport of sediment from SRC’s property to the plaintiffs’ property beyond what had been occurring naturally before construction of the solar farm. The IEA Entities and SRC filed post-trial motions seeking multiple avenues of relief from the verdict. Plaintiffs filed oppositions to both motions. On October 23, 2023, the Court issued an order resolving the parties’ post-trial motions. The Court first ruled that the compensatory damages for restoration of the lake were unsupported by the evidence and that the compensatory damages for loss of use and enjoyment were excessive. It ordered a new trial on the amount of compensatory damages unless Mr. and Mrs. Harris agreed to a remittitur of their damages for loss of use and enjoyment to approximately $0.5 million each and H&L Farms agreed to a remittitur of its damages for restoration of the lake to approximately $0.3 million. The Court also ordered a new trial on the amount of punitive damages unless plaintiffs agreed to a remittitur of the punitive damages against SRC to approximately $1.1 million and a remittitur of the punitive damages against the IEA Entities to approximately $2.7 million in total. On October 31, 2023, the plaintiffs filed a motion for reconsideration of the Court’s order, seeking, among other things, that the Court permit a higher amount of damages and defer any retrial to a later time, accompanied by a request that the Court certify its order for an immediate appeal and to seek the Georgia Supreme Court’s answers to various ostensible issues of Georgia law. The defendants also sought reconsideration of various aspects of the Court’s order. On December 14, 2023, the Court denied all of the parties’ motions. On January 2, 2024, the plaintiffs notified the Court that they did not agree to the remittiturs. On February 21, 2024, the Court scheduled a new trial on the amount of compensatory and punitive damages to begin on April 8, 2025. The Court also granted the plaintiffs permission to amend their complaint to include a claim for emotional distress. It also ruled that if the plaintiffs seek damages for harms suffered after the original trial, they will have to prove all elements of their causes of action to recover those damages. 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 certain 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, 2023 and 2022, there were $82.1 million and $166.7 million, respectively, of letters of credit issued under the Company’s credit facilities. Letter of credit claims have historically not been material. The Company is not aware of any material claims relating to its outstanding letters of credit as of December 31, 2023 or 2022. Performance and Payment Bonds. In the ordinary course of business, MasTec is required by certain customers to provide performance and payment bonds for contractual commitments related to its projects. These bonds provide a guarantee to the customer that the Company will perform under the terms of a contract and that the Company will pay its subcontractors and vendors. If the Company fails to perform under a contract or to pay its subcontractors and vendors, the customer may demand that the surety make payments or provide services under the bond. The Company must reimburse the surety for expenses or outlays it incurs. As of December 31, 2023 and 2022, outstanding performance and payment bonds approximated $5.6 billion and $4.9 billion, respectively, and estimated costs to complete projects secured by these bonds totaled $1.6 billion and $1.7 billion as of December 31, 2023 and 2022, respectively. Included in these balances as of December 31, 2023 and 2022 are $368.3 million and $115.8 million, respectively, of outstanding performance and payment bonds issued on behalf of the Company’s proportionately consolidated non-controlled contractual joint ventures, representing the Company’s proportionate share of the total bond obligation for the related projects. Investment and Strategic Arrangements. The Company holds undivided interests, ranging from 85% to 90%, in multiple proportionately consolidated non-controlled contractual joint ventures that provide infrastructure construction services for electrical transmission projects, as well as undivided interests, ranging from 25% to 50%, in each of five civil construction projects, and one 49% undivided interest in pipeline project work. Income and/or loss incurred by these joint ventures is 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, 2023, the Company was not aware of material future claims against it in connection with these arrangements. For the year ended December 31, 2023, the Company provided $0.5 million of project-related financing to its contractual joint ventures, which amount was outstanding as of December 31, 2023. For the year ended December 31, 2022, the Company provided no project-related financing to its contractual joint ventures. The Company has other investment and strategic arrangements, under which it may incur costs or provide financing, performance, financial and/or other guarantees. See Note 4 - Fair Value of Financial Instruments and Note 15 - Related Party Transactions for additional information pertaining to the Company’s investment and strategic arrangements. Self-Insurance. MasTec maintains insurance policies for workers’ compensation, general liability and automobile liability, which are subject to per claim deductibles. The Company is self-insured up to the amount of the deductible. The Company also maintains excess umbrella coverage. The Company manages certain of its insurance liabilities indirectly through its wholly-owned captive insurance company, which reimburses claims up to the applicable insurance limits. Captive insurance-related cash balances totaled approximately $1.2 million and $1.1 million as of December 31, 2023 and 2022, respectively, which amounts are generally not available for use in the Company’s other operations. As of December 31, 2023 and 2022, MasTec’s estimated liability for unpaid claims and associated expenses, including incurred but not reported losses related to these policies, totaled $209.7 million and $176.7 million, respectively, of which $141.0 million and $109.3 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 $4.1 million as of both December 31, 2023 and 2022. 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 $9.6 million and $95.6 million as of December 31, 2023 and 2022, respectively. Outstanding surety bonds related to self-insurance programs amounted to $192.7 million and $110.9 million as of December 31, 2023 and 2022, 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 and Note 10 - Other Retirement Plans, certain of MasTec’s subsidiaries are party to various collective bargaining agreements with unions representing certain of their employees, which require the Company to pay specified wages, provide certain benefits and contribute certain amounts to MEPPs. The Employee Retirement Income Security Act of 1974, as amended by the Multiemployer Pension Plan Amendments Act of 1980 (collectively, “ERISA”), which governs U.S.-registered MEPPs, subjects employers to substantial liabilities in the event of an employer’s complete or partial withdrawal from, or upon termination of, such plans. The Company currently contributes, and in the past, has contributed, to plans that are underfunded, and, therefore, could have potential liability associated with a voluntary or involuntary withdrawal from, or termination of, these plans. As of December 31, 2023, the Company does not have plans to withdraw from, and is not aware of circumstances that would reasonably lead to material claims against it, in connection with the MEPPs in which it participates. There can be no assurance, however, that the Company will not be assessed liabilities in the future, including in the form of a surcharge on future benefit contributions or increased contributions on underfunded plans. The amount the Company could be obligated to pay or contribute in the future cannot be estimated, as these amounts are based on future levels of work of the union employees covered by these plans, investment returns, which could be negatively affected by economic and market conditions, and the level of underfunding of such plans. In 2022, the Company paid $2.8 million to settle a withdrawal liability assumed in connection with the HMG acquisition, for which it recognized a gain of $0.5 million for the year ended December 31, 2022. Additionally, in connection with the IEA acquisition, the Company assumed a multiemployer pension plan withdrawal liability, under which IEA is currently obligated to make monthly payments of approximately $10,000. As of December 31, 2023 and 2022, the remaining obligation approximated $1.8 million and $1.9 million, respectively. 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, 2023 and 2022, the Company had accrued project close-out liabilities of approximately $20 million and $40 million, respectively. The Company is not aware of any other material asserted or unasserted claims in connection with its potential indemnity obligations. Other Guarantees. From time to time in the ordinary course of its business, MasTec guarantees the obligations of its subsidiaries, including obligations under certain contracts with customers, certain lease obligations and in some states, obligations in connection with obtaining contractors’ licenses. MasTec has also issued performance and other guarantees in connection with certain of its equity investments. MasTec also generally warrants the work it performs following substantial completion of a project. Much of the work performed by the Company is evaluated for defects shortly after the work is completed. If warranty claims occur, the Company could be required to repair or replace warrantied items, or, if customers elect to repair or replace the warrantied item using the services of another provider, the Company could be required to pay for the cost of the repair or replacement. Warranty claims have historically not been material. Concentrations of Risk. The Company is subject to certain risk factors, including, but not limited to: risks related to market conditions, market uncertainty, including from economic downturns or other economic factors, including levels of inflation and rates of interest; supply chain disruptions; governmental and/or regulatory changes, including governmental permitting, or from climate-related matters, or other factors affecting the industries in which the Company operates; changes in customers’ capital spending plans; the Company’s ability to manage projects effectively and in accordance with management’s estimates and resolution of unapproved change orders; risks related to the Company’s acquisitions, including acquisition integration and financing; availability of qualified employees; risks related to rapid technological changes or customer consolidation; competition; the nature of the Company’s contracts, which do not obligate its customers to undertake any infrastructure projects and may be canceled on short notice; customer disputes related to the performance of services; exposure to litigation; seasonality, adverse weather conditions and fluctuations in operational factors; potential exposure to environmental liabilities; exposure from system or information technology interruptions; recoverability of goodwill; collectibility of receivables; the adequacy of the Company’s reserves; public health matters; exposure related to strategic investments or 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: wireless and wireline/fiber service providers; broadband operators; install-to-the-home service providers; public and private energy providers, including renewable and other energy providers; pipeline operators; civil, transportation and industrial infrastructure providers; and government entities The industries served by MasTec’s customers include the communications, energy and utilities industries, including the power industry, among others. The Company had approximately 1,635 customers for the year ended December 31, 2023. As of December 31, 2023, one customer accounted for approximately 10% of the Company’s consolidated net accounts receivable position, which represents accounts receivable, net, less deferred revenue. As of December 31, 2022, there were no customers that represented greater than 10% of the Company’s consolidated net accounts receivable position. For the years ended December 31, 2023, 2022 and 2021, the Company derived 38%, 39% and 54% of its revenue from its top ten customers, respectively.

Segments and Related Information - Schedule of Financial Information by Reportable Segment - EBITDA (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
EBITDA:
Segment EBITDA	$ 918.8	$ 828.1	$ 1,003.8
Reportable Segments \| Communications
EBITDA:
Segment EBITDA	269.2	327.1	269.5
Reportable Segments \| Clean Energy and Infrastructure
EBITDA:
Segment EBITDA	132.4	102.8	75.0
Reportable Segments \| Oil and Gas
EBITDA:
Segment EBITDA	284.4	163.5	557.6
Reportable Segments \| Power Delivery
EBITDA:
Segment EBITDA	207.8	202.9	68.0
Reportable Segments \| Other
EBITDA:
Segment EBITDA	$ 25.0	$ 31.8	$ 33.8

Lease Obligations - Additional Lease Information (Details)	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Finance lease, weighted average remaining lease term (in years)	2 years 7 months 6 days	2 years 9 months 18 days
Finance lease, weighted average discount rate, percent	4.70%	4.00%
Operating lease, weighted average remaining lease term (in years)	3 years 9 months 18 days	4 years 6 months
Operating lease, weighted average discount rate, percent	4.80%	3.60%

Stock-Based Compensation and Other Employee Benefit Plans - Deferred Compensation Plans (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Deferred Compensation Arrangements [Abstract]
Deferred compensation plans, assets	$ 26.0	$ 21.3
Deferred compensation plans, liabilities	$ 32.7	$ 26.1

Business, Basis of Presentation and Significant Accounting Policies - Stock-Based Compensation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation, shares withheld (in shares)	118,636	49,418	63,054
Stock-based compensation, payments for employee tax obligations to taxing authorities (in dollars)	$ 10,330	$ 4,098	$ 6,024
Restricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation, vesting period (in years)	3 years
Employee Stock Purchase Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation, purchase price of common stock, percentage	85.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Earnings Per Share

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Earnings Per Share

Basic earnings or loss per share is computed by dividing net income or loss attributable to MasTec by the weighted average number of common shares outstanding for the period, which excludes non-participating unvested restricted share awards. Diluted earnings per share is computed by dividing net income attributable to MasTec by the weighted average number of fully diluted shares, as calculated primarily under the treasury stock method, which includes the potential effect of dilutive common stock equivalents, such as issued but unvested restricted shares. If the Company reports a loss, rather than income, the computation of diluted loss per share excludes the effect of dilutive common stock equivalents if 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,
	2023		2022		2021
Net (loss) income attributable to MasTec:
Net (loss) income - basic (a)	$	(49,949)	$	33,354	$	328,831
Fair value gain related to contingent payments (b)	$	—	$	1,682	$	—
Net (loss) income - diluted (a)	$	(49,949)	$	31,672	$	328,831
Weighted average shares outstanding:
Weighted average shares outstanding - basic (c)	77,535		74,917		72,499
Dilutive common stock equivalents (d)(e)	—		1,268		1,442
Weighted average shares outstanding - diluted	77,535		76,185		73,941

(c) For the years ended December 31, 2023 and 2022, basic shares include approximately 88,000 and 127,000 weighted average shares, respectively, related to additional contingent payments.

Share repurchases. For the year ended December 31, 2022, the Company repurchased approximately 1,124,000 shares of its common stock, the effect of which on the Company’s weighted average shares outstanding for the related period was a reduction of approximately 731,000 shares. See Note 11 - Equity for details of the Company’s share repurchase transactions.

Shares issued for acquisitions. The Company has issued shares of its common stock in connection with certain acquisitions. In 2022, the Company issued approximately 2,758,000 shares in connection with the acquisition of IEA, for which the effect in 2022 was an increase of approximately 637,000 weighted average shares. In 2023, the Company issued an additional 4,000 shares of its common stock in connection with this acquisition. In December 2021, the Company issued approximately 1,975,000 shares of its common stock in conjunction with the acquisition of Henkels & McCoy Holdings, Inc., formerly known as Henkels & McCoy Group, Inc. (“HMG”), the effect of which in 2021 was insignificant due to the timing of the acquisition. In 2022, the Company issued an additional 133,000 shares in connection with HMG. See Note 3 - Acquisitions, Goodwill and Other Intangible Assets, Net, for additional information.

Fair Value of Financial Instruments - Acquisition-Related Contingent Consideration (Details)	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Fair Value, Financial Instruments Measured on a Recurring Basis [Line Items]
Measurement period adjustments, net	$ 39,600,000	$ (19,300,000)
Fair Value Recurring Basis Unobservable Input Reconciliation Liability Gain Loss Statement Of Income Extensible List Not Disclosed Flag			fair value adjustments
All Acquisitions
Fair Value, Financial Instruments Measured on a Recurring Basis [Line Items]
Acquisition-related contingent consideration liabilities, range of potential undiscounted earn-out liabilities, low	22,000,000
Acquisition-related contingent consideration liabilities, range of potential undiscounted earn-out liabilities, high	$ 87,000,000
Discount Rate
Fair Value, Financial Instruments Measured on a Recurring Basis [Line Items]
Acquisition-related contingent consideration liabilities, measurement input, discount rate	0.130
Earn-Out Liabilities
Fair Value, Financial Instruments Measured on a Recurring Basis [Line Items]
Acquisition-related contingent consideration liabilities, estimated fair value	$ 77,400,000	127,400,000
Acquisition-related contingent consideration liabilities, additions from new business combinations	1,400,000	2,800,000	$ 101,600,000
Measurement period adjustments, net	0	3,300,000	0
Gain (loss) recorded in earnings	12,600,000	1,200,000	29,500,000
Acquisition-related contingent consideration liabilities, payments	38,800,000	37,800,000	47,000,000
Earn-Out Liabilities \| Mandatorily Redeemable Stock
Fair Value, Financial Instruments Measured on a Recurring Basis [Line Items]
Acquisition-related contingent consideration liabilities, estimated fair value		13,900,000
Gain (loss) recorded in earnings	12,300,000		$ (2,800,000)
Acquisition-related contingent consideration liabilities, payments	1,700,000
Earn-Out Liabilities \| Other Current Liabilities
Fair Value, Financial Instruments Measured on a Recurring Basis [Line Items]
Acquisition-related contingent consideration liabilities, estimated fair value	$ 29,800,000	$ 37,700,000

Lease Obligations (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Schedule of Future Minimum Lease Commitments, Finance Leases

Future minimum lease commitments as of December 31, 2023 were as follows (in millions):


	Finance Leases		Operating Leases
2024	$	156.5	$	152.2
2025	119.4		126.2
2026	61.6		90.4
2027	21.4		46.6
2028	3.0		20.5
Thereafter	0.1		36.7
Total minimum lease payments	$	362.0	$	472.6
Less amounts representing interest	(20.2)		(41.9)
Total lease obligations, net of interest	$	341.8	$	430.7
Less current portion	144.2		137.8
Long-term portion of lease obligations, net of interest	$	197.6	$	292.9

Schedule of Future Minimum Lease Commitments, Operating Leases

Future minimum lease commitments as of December 31, 2023 were as follows (in millions):


	Finance Leases		Operating Leases
2024	$	156.5	$	152.2
2025	119.4		126.2
2026	61.6		90.4
2027	21.4		46.6
2028	3.0		20.5
Thereafter	0.1		36.7
Total minimum lease payments	$	362.0	$	472.6
Less amounts representing interest	(20.2)		(41.9)
Total lease obligations, net of interest	$	341.8	$	430.7
Less current portion	144.2		137.8
Long-term portion of lease obligations, net of interest	$	197.6	$	292.9

Property and Equipment, Net - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property and Equipment [Line Items]
Capitalized internal-use software, gross	$ 212,700	$ 186,600
Capitalized internal-use software, net	49,800	39,900
Decrease in depreciation expense	(433,929)	(371,240)	$ (345,612)
Accrued capital expenditures	4,400	$ 14,200
Change in Accounting Method Accounted for as Change in Estimate
Property and Equipment [Line Items]
Decrease in depreciation expense	$ 6,200

Income Taxes - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Taxes [Line Items]
Net operating loss carryforwards, deferred tax assets	$ 87.5	$ 115.4
Interest and penalties	2.6	0.7	$ 0.1
Unrecognized tax benefits, accrued interest and penalties	5.9	3.1
Unrecognized tax benefits	66.8
State
Income Taxes [Line Items]
Net operating loss carryforwards, deferred tax assets	24.7	21.4
Foreign
Income Taxes [Line Items]
Net operating loss carryforwards, deferred tax assets	59.2	87.9
Federal
Income Taxes [Line Items]
Net operating loss carryforwards, deferred tax assets	$ 0.0	$ 2.5

Equity

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Equity

Share Activity

The Company’s share repurchase programs provide for the repurchase, from time to time, of MasTec common shares in open market transactions or in privately negotiated transactions in accordance with applicable securities laws. The 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, under which the Company undertakes share repurchases for strategic purposes, including (i) when management believes that the market price of the Company’s stock is undervalued, (ii) such repurchases will enhance long-term shareholder value, (iii) the Company has adequate liquidity, and (iv) management believes that such repurchases are appropriate uses of capital, 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. Share repurchases are recorded as of the trade date, whereas payments for share repurchases are made on the date the trade is settled.

There were no share repurchases under the Company’s share repurchase programs for the year ended December 31, 2023. For the year ended December 31, 2022, the Company repurchased 1.1 million shares of its common stock for an aggregate purchase price of approximately $81.3 million. Of the total repurchased shares, 0.1 million were repurchased for $8.6 million under the Company’s December 2018 $100 million share repurchase program, which completed the program. The remaining 1.0 million shares were repurchased for $72.7 million under the Company’s March 2020 $150 million share repurchase program. There were no share repurchases under the Company’s share repurchase programs for the year ended December 31, 2021. As of December 31, 2023, $77.3 million was available for future share repurchases under the Company’s March 2020 share repurchase program.

During the second quarter of 2022, the Company reissued 0.1 million shares of its treasury stock with a cost basis of $4.3 million in settlement of certain Additional Payments in connection with the HMG acquisition. For additional information related to shares issued for acquisitions, see Note 2 - Earnings Per Share and Note 3 - Acquisitions, Goodwill and Other Intangible Assets, Net.

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,
	2023						2022						2021
	Foreign Currency		Other		Total		Foreign Currency		Other		Total		Foreign Currency		Other		Total
Balance as of January 1	$	(67,103)	$	16,148	$	(50,955)	$	(64,014)	$	(14,762)	$	(78,776)	$	(64,272)	$	(27,172)	$	(91,444)
Unrealized gains (losses), net of tax	1,695		(3,737)		(2,042)		(3,089)		30,910		27,821		258		12,410		12,668
Balance as of December 31	$	(65,408)	$	12,411	$	(52,997)	$	(67,103)	$	16,148	$	(50,955)	$	(64,014)	$	(14,762)	$	(78,776)

Unrealized foreign currency translation activity, net, for the three years in the period ended December 31, 2023 relates primarily to the Company’s activities in Canada and Mexico. Other unrealized activity within accumulated comprehensive loss for the three years in the period ended December 31, 2023 relates primarily to unrealized investment gains or losses associated with the Waha JV interest rate swaps. See Note 4 - Fair Value of Financial Instruments for additional information.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481004/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 16
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-16

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

+ Details

Debt (Tables)

12 Months Ended

Dec. 31, 2023

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	2023		2022
Senior credit facility:	November 1, 2026
Revolving loans		$	773.0	$	896.0
Term loan		341.3		350.0
4.50% Senior Notes	August 15, 2028	600.0		600.0
6.625% Senior Notes	August 15, 2029	284.2		281.2
2022 Term Loan Facility	October 7, 2025 and October 7, 2027	700.0		700.0
Finance lease and other obligations		380.3		414.5
Total debt obligations		$	3,078.8	$	3,241.7
Less unamortized deferred financing costs		(13.5)		(17.6)
Total debt, net of deferred financing costs		$	3,065.3	$	3,224.1
Current portion of long-term debt		177.2		171.9
Long-term debt		$	2,888.1	$	3,052.2

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, 2023 were as follows (in millions):


2024	$	177.2
2025	558.0
2026	1,185.9
2027	268.7
2028	604.1
Thereafter	284.9
Total	$	3,078.8

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69B

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69E
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69E

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482925/835-30-45-2

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482925/835-30-45-1A

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-3

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482949/835-30-55-8

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480848/942-470-50-3

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-8

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-6

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-7

+ Details