XML 69 R44.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Supplemental Guarantor Financial Information (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2013
Text Block [Abstract] |
Condensed Consolidating Statements Of Operations And Comprehensive Income | CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (in millions)
For the Year Ended December 31, 2013 | MasTec, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated MasTec, Inc.
Revenue | $ | — |  |  | $ | 3,903.8 |  |  | $ | 425.6 |  |  | $ | (4.6 | ) |  | $ | 4,324.8 |
Costs of revenue, excluding depreciation and amortization | — |  |  | 3,321.3 |  |  | 365.7 |  |  | (4.6 | ) |  | 3,682.4 |
Depreciation and amortization | — |  |  | 120.1 |  |  | 20.8 |  |  | — |  |  | 140.9 |
General and administrative expenses | 2.1 |  |  | 184.6 |  |  | 28.7 |  |  | — |  |  | 215.4 |
Interest expense, net | — |  |  | 45.5 |  |  | 0.9 |  |  | — |  |  | 46.4 |
Loss on extinguishment of debt | — |  |  | 5.6 |  |  | — |  |  | — |  |  | 5.6 |
Other (income) expense, net | — |  |  | (6.1 | ) |  | — |  |  | — |  |  | (6.1 | )
(Loss) income from continuing operations before income taxes | $ | (2.1 | ) |  | $ | 232.8 |  |  | $ | 9.5 |  |  | $ | — |  |  | $ | 240.2 |
Benefit from (provision for) income taxes | 0.8 |  |  | (91.9 | ) |  | (1.4 | ) |  | — |  |  | (92.5 | )
Net (loss) income from continuing operations | $ | (1.3 | ) |  | $ | 140.9 |  |  | $ | 8.1 |  |  | $ | — |  |  | $ | 147.7 |
Net loss from discontinued operations | — |  |  | — |  |  | (6.5 | ) |  | — |  |  | (6.5 | )
Equity in income from subsidiaries, net of tax | 142.2 |  |  | — |  |  | — |  |  | (142.2 | ) |  | — |
Net income (loss) | $ | 140.9 |  |  | $ | 140.9 |  |  | $ | 1.6 |  |  | $ | (142.2 | ) |  | $ | 141.2 |
Net income (loss) attributable to non-controlling interests | — |  |  | — |  |  | 0.3 |  |  | — |  |  | 0.3 |
Net income (loss) attributable to MasTec, Inc. | $ | 140.9 |  |  | $ | 140.9 |  |  | $ | 1.3 |  |  | $ | (142.2 | ) |  | $ | 140.9 |
Comprehensive income (loss) | $ | 133.2 |  |  | $ | 140.9 |  |  | $ | (6.2 | ) |  | $ | (134.4 | ) |  | $ | 133.4 |
CONDENSED CONSOLIDATING STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (in millions)
For the Year Ended December 31, 2012 | MasTec, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated MasTec, Inc.
Revenue | $ | — |  |  | $ | 3,563.2 |  |  | $ | 166.6 |  |  | $ | (3.0 | ) |  | $ | 3,726.8 |
Costs of revenue, excluding depreciation and amortization | — |  |  | 3,094.2 |  |  | 148.0 |  |  | (3.0 | ) |  | 3,239.2 |
Depreciation and amortization | — |  |  | 89.0 |  |  | 3.0 |  |  | — |  |  | 92.0 |
General and administrative expenses | 1.7 |  |  | 147.4 |  |  | 8.4 |  |  | — |  |  | 157.5 |
Interest expense (revenue), net | — |  |  | 37.4 |  |  | — |  |  | — |  |  | 37.4 |
Other expense, net | — |  |  | 7.8 |  |  | 0.2 |  |  | — |  |  | 8.0 |
(Loss) income from continuing operations before income taxes | $ | (1.7 | ) |  | $ | 187.4 |  |  | $ | 7.0 |  |  | $ | — |  |  | $ | 192.7 |
Benefit from (provision for) income taxes | 0.7 |  |  | (75.6 | ) |  | (1.2 | ) |  | — |  |  | (76.1 | )
Net (loss) income from continuing operations | $ | (1.0 | ) |  | $ | 111.8 |  |  | $ | 5.8 |  |  | $ | — |  |  | $ | 116.6 |
Net loss from discontinued operations | — |  |  | — |  |  | (9.2 | ) |  | — |  |  | (9.2 | )
Equity in income from subsidiaries, net of tax | 108.4 |  |  | — |  |  | — |  |  | (108.4 | ) |  | — |
Net income (loss) | $ | 107.4 |  |  | $ | 111.8 |  |  | $ | (3.4 | ) |  | $ | (108.4 | ) |  | $ | 107.4 |
Net loss attributable to non-controlling interests | — |  |  | — |  |  | 0.0 |  |  | — |  |  | 0.0 |
Net income (loss) attributable to MasTec, Inc. | $ | 107.4 |  |  | $ | 111.8 |  |  | $ | (3.4 | ) |  | $ | (108.4 | ) |  | $ | 107.4 |
Comprehensive income (loss) | $ | 107.4 |  |  | $ | 112.4 |  |  | $ | (1.5 | ) |  | $ | (108.4 | ) |  | $ | 109.9 |
For the Year Ended December 31, 2011 | MasTec, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated MasTec, Inc.
Revenue | $ | — |  |  | $ | 2,740.6 |  |  | $ | 91.6 |  |  | $ | (0.9 | ) |  | $ | 2,831.3 |
Costs of revenue, excluding depreciation and amortization | — |  |  | 2,373.1 |  |  | 87.5 |  |  | (0.9 | ) |  | 2,459.7 |
Depreciation and amortization | — |  |  | 72.0 |  |  | 2.2 |  |  | — |  |  | 74.2 |
General and administrative expenses | 2.5 |  |  | 125.8 |  |  | 4.3 |  |  | — |  |  | 132.6 |
Interest expense, net | — |  |  | 34.4 |  |  | 0.1 |  |  | — |  |  | 34.5 |
Gain on remeasurement of equity interest in acquiree | — |  |  | (29.0 | ) |  | — |  |  | — |  |  | (29.0 | )
Other expense (income), net | — |  |  | 0.1 |  |  | (0.1 | ) |  | — |  |  | 0.0 |
(Loss) income from continuing operations before income taxes | $ | (2.5 | ) |  | $ | 164.2 |  |  | $ | (2.4 | ) |  | $ | — |  |  | $ | 159.3 |
Benefit from (provision for) income taxes | 1.0 |  |  | (64.4 | ) |  | 1.6 |  |  | — |  |  | (61.8 | )
Net (loss) income from continuing operations | $ | (1.5 | ) |  | $ | 99.8 |  |  | $ | (0.8 | ) |  | $ | — |  |  | $ | 97.5 |
Net income (loss) from discontinued operations | — |  |  | — |  |  | 8.5 |  |  | — |  |  | 8.5 |
Equity in income from subsidiaries, net of tax | 107.5 |  |  | — |  |  | — |  |  | (107.5 | ) |  | — |
Net income (loss) | $ | 106.0 |  |  | $ | 99.8 |  |  | $ | 7.7 |  |  | $ | (107.5 | ) |  | $ | 106.0 |
Net loss attributable to non-controlling interests | — |  |  | — |  |  | 0.0 |  |  | — |  |  | 0.0 |
Net income (loss) attributable to MasTec, Inc. | $ | 106.0 |  |  | $ | 99.8 |  |  | $ | 7.7 |  |  | $ | (107.5 | ) |  | $ | 106.0 |
Comprehensive income (loss) | $ | 106.0 |  |  | $ | 99.6 |  |  | $ | 6.1 |  |  | $ | (107.5 | ) |  | $ | 104.2 |
Condensed Consolidating Balance Sheets | CONDENSED CONSOLIDATING BALANCE SHEETS (in millions)
As of December 31, 2013 | MasTec, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated MasTec, Inc.
Assets |  |  |  |  |  |  |  |  |
Current assets, including discontinued operations | $ | — |  |  | $ | 1,155.6 |  |  | $ | 150.3 |  |  | $ | — |  |  | $ | 1,305.9 |
Property and equipment, net | — |  |  | 420.2 |  |  | 67.9 |  |  | — |  |  | 488.1 |
Goodwill and other intangible assets, net | — |  |  | 932.8 |  |  | 132.2 |  |  | — |  |  | 1,065.0 |
Net investments in and advances to (from) consolidated affiliates | 1,006.8 |  |  | 172.4 |  |  | (24.1 | ) |  | (1,155.1 | ) |  | — |
Other long-term assets, including discontinued operations | 9.3 |  |  | 36.2 |  |  | 15.1 |  |  | — |  |  | 60.6 |
Total assets | $ | 1,016.1 |  |  | $ | 2,717.2 |  |  | $ | 341.4 |  |  | $ | (1,155.1 | ) |  | $ | 2,919.6 |
Liabilities and Equity |  |  |  |  |  |  |  |  |
Total current liabilities | $ | — |  |  | $ | 772.1 |  |  | $ | 53.4 |  |  | $ | — |  |  | $ | 825.5 |
Long-term debt | — |  |  | 760.9 |  |  | 4.5 |  |  | — |  |  | 765.4 |
Other liabilities | — |  |  | 236.5 |  |  | 71.1 |  |  | — |  |  | 307.6 |
Total liabilities | $ | — |  |  | $ | 1,769.5 |  |  | $ | 129.0 |  |  | $ | — |  |  | $ | 1,898.6 |
Total equity | $ | 1,016.1 |  |  | $ | 947.7 |  |  | $ | 212.4 |  |  | $ | (1,155.1 | ) |  | $ | 1,021.1 |
Total liabilities and equity | $ | 1,016.1 |  |  | $ | 2,717.2 |  |  | $ | 341.4 |  |  | $ | (1,155.1 | ) |  | $ | 2,919.6 |
As of December 31, 2012 | MasTec, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated MasTec, Inc.
Assets |  |  |  |  |  |  |  |  |
Current assets, including discontinued operations | $ | — |  |  | $ | 954.1 |  |  | $ | 95.5 |  |  | $ | — |  |  | $ | 1,049.6 |
Property and equipment, net | — |  |  | 326.6 |  |  | 22.3 |  |  | — |  |  | 348.9 |
Goodwill and other intangible assets, net | — |  |  | 890.7 |  |  | 72.9 |  |  | — |  |  | 963.6 |
Net investments in and advances to (from) consolidated affiliates | 855.0 |  |  | 164.5 |  |  | (13.8 | ) |  | (1,005.7 | ) |  | — |
Other long-term assets, including discontinued operations | 7.7 |  |  | 38.8 |  |  | 7.7 |  |  | — |  |  | 54.2 |
Total assets | $ | 862.7 |  |  | $ | 2,374.7 |  |  | $ | 184.6 |  |  | $ | (1,005.7 | ) |  | $ | 2,416.3 |
Liabilities and Equity |  |  |  |  |  |  |  |  |
Total current liabilities | $ | — |  |  | $ | 675.1 |  |  | $ | 39.0 |  |  | $ | — |  |  | $ | 714.1 |
Long-term debt | — |  |  | 546.2 |  |  | 0.1 |  |  | — |  |  | 546.3 |
Other liabilities | — |  |  | 263.4 |  |  | 30.6 |  |  | — |  |  | 294.0 |
Total liabilities | $ | — |  |  | $ | 1,484.7 |  |  | $ | 69.7 |  |  | $ | — |  |  | $ | 1,554.4 |
Total equity | $ | 862.7 |  |  | $ | 890.0 |  |  | $ | 114.9 |  |  | $ | (1,005.7 | ) |  | $ | 861.9 |
Total liabilities and equity | $ | 862.7 |  |  | $ | 2,374.7 |  |  | $ | 184.6 |  |  | $ | (1,005.7 | ) |  | $ | 2,416.3 |
Condensed Consolidating Statements Of Cash Flows | CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS (in millions)
For the Year Ended December 31, 2013 | MasTec, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated MasTec, Inc.
Net cash (used in) provided by operating activities | $ | (2.8 | ) |  | $ | 180.7 |  |  | $ | 22.5 |  |  | $ | — |  |  | $ | 200.4 |
Cash flows (used in) provided by investing activities: |  |  |  |  |  |  |  |  |
Cash paid for acquisitions, net | $ | — |  |  | $ | (45.0 | ) |  | $ | (103.6 | ) |  | $ | — |  |  | $ | (148.6 | )
Disposal of business, divested cash | — |  |  | (3.0 | ) |  | — |  |  | — |  |  | (3.0 | )
Capital expenditures | — |  |  | (115.6 | ) |  | (10.7 | ) |  | — |  |  | (126.3 | )
Proceeds from sale of property and equipment | — |  |  | 15.9 |  |  | — |  |  | — |  |  | 15.9 |
(Payments for) proceeds from other investments, net | — |  |  | (1.2 | ) |  | — |  |  | — |  |  | (1.2 | )
Net cash used in investing activities | $ | — |  |  | $ | (148.9 | ) |  | $ | (114.3 | ) |  | $ | — |  |  | $ | (263.2 | )
Cash flows provided by (used in) financing activities: |  |  |  |  |  |  |  |  |
Proceeds from (repayments of) credit facility | $ | — |  |  | $ | (80.7 | ) |  | $ | (20.0 | ) |  | $ | — |  |  | $ | (100.7 | )
Proceeds from senior notes, net | — |  |  | 250.0 |  |  | — |  |  | — |  |  | 250.0 |
Repayments of other borrowings and capital lease obligations | — |  |  | (69.1 | ) |  | (1.6 | ) |  | — |  |  | (70.7 | )
Excess tax benefits and proceeds from stock-based awards | 8.3 |  |  | 4.4 |  |  | — |  |  | — |  |  | 12.7 |
Payments of financing costs, including earn-outs | — |  |  | (30.4 | ) |  | (2.0 | ) |  | — |  |  | (32.4 | )
Net financing activities and advances (to) from consolidated affiliates | (5.5 | ) |  | (109.8 | ) |  | 115.3 |  |  | — |  |  | — |
Net cash provided by (used in) financing activities | $ | 2.8 |  |  | $ | (35.6 | ) |  | $ | 91.7 |  |  | $ | — |  |  | $ | 58.9 |
Net (decrease) increase in cash and cash equivalents | — |  |  | (3.8 | ) |  | — |  |  | — |  |  | (3.8 | )
Net effect of currency translation on cash | — |  |  | — |  |  | — |  |  | — |  |  | — |
Cash and cash equivalents - beginning of period | — |  |  | 12.7 |  |  | 14.1 |  |  | — |  |  | 26.8 |
Cash and cash equivalents - end of period | $ | — |  |  | $ | 8.9 |  |  | $ | 14.1 |  |  | $ | — |  |  | $ | 23.0 |
Cash and cash equivalents of discontinued operations | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Cash and cash equivalents of continuing operations | $ | — |  |  | $ | 8.9 |  |  | $ | 14.1 |  |  | $ | — |  |  | $ | 23.0 |
For the Year Ended December 31, 2012 | MasTec, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated MasTec, Inc.
Net cash (used in) provided by operating activities | $ | (1.3 | ) |  | $ | 141.4 |  |  | $ | 32.4 |  |  | $ | — |  |  | $ | 172.5 |
Cash flows (used in) provided by investing activities: |  |  |  |  |  |  |  |  |
Cash paid for acquisitions, net | $ | — |  |  | $ | (118.1 | ) |  | $ | (1.4 | ) |  | $ | — |  |  | $ | (119.5 | )
Proceeds from disposal of business, net of cash divested | — |  |  | — |  |  | 97.7 |  |  | — |  |  | 97.7 |
Capital expenditures | — |  |  | (76.2 | ) |  | (3.5 | ) |  | — |  |  | (79.7 | )
Proceeds from sale of property and equipment | — |  |  | 7.4 |  |  | — |  |  | — |  |  | 7.4 |
(Payments for) proceeds from other investments, net | (0.2 | ) |  | — |  |  | — |  |  | — |  |  | (0.2 | )
Net cash used in investing activities | $ | (0.2 | ) |  | $ | (186.9 | ) |  | $ | 92.8 |  |  | $ | — |  |  | $ | (94.3 | )
Cash flows provided by (used in) financing activities: |  |  |  |  |  |  |  |  |
Proceeds from credit facility, net | $ | — |  |  | $ | 74.0 |  |  | $ | — |  |  | $ | — |  |  | $ | 74.0 |
Repayments of other borrowings and capital lease obligations | — |  |  | (42.5 | ) |  | — |  |  | — |  |  | (42.5 | )
Repurchase of common stock | (75.0 | ) |  | — |  |  | — |  |  | — |  |  | (75.0 | )
Excess tax benefits and proceeds from stock-based awards | 5.0 |  |  | 0.8 |  |  | — |  |  | — |  |  | 5.8 |
Payments of financing costs, including earn-outs | — |  |  | (34.1 | ) |  | — |  |  | — |  |  | (34.1 | )
Net financing activities and advances (to) from consolidated affiliates | 71.5 |  |  | 54.4 |  |  | (125.9 | ) |  | — |  |  | — |
Net cash provided by (used in) financing activities | $ | 1.5 |  |  | $ | 52.6 |  |  | $ | (125.9 | ) |  | $ | — |  |  | $ | (71.8 | )
Net increase in cash and cash equivalents | — |  |  | 7.1 |  |  | (0.7 | ) |  | — |  |  | 6.4 |
Net effect of currency translation on cash | — |  |  | — |  |  | 0.1 |  |  | — |  |  | 0.1 |
Cash and cash equivalents - beginning of period | — |  |  | 5.6 |  |  | 14.7 |  |  | — |  |  | 20.3 |
Cash and cash equivalents - end of period | $ | — |  |  | $ | 12.7 |  |  | $ | 14.1 |  |  | $ | — |  |  | $ | 26.8 |
Cash and cash equivalents of discontinued operations | $ | — |  |  | $ | — |  |  | $ | 0.4 |  |  | $ | — |  |  | $ | 0.4 |
Cash and cash equivalents of continuing operations | $ | — |  |  | $ | 12.7 |  |  | $ | 13.7 |  |  | $ | — |  |  | $ | 26.4 |
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS (in millions)
For the Year Ended December 31, 2011 | MasTec, Inc. |  | Guarantor Subsidiaries |  | Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated MasTec, Inc.
Net cash (used in) provided by operating activities | $ | (0.9 | ) |  | $ | 33.6 |  |  | $ | (12.0 | ) |  | $ | — |  |  | $ | 20.7 |
Cash flows (used in) provided by investing activities: |  |  |  |  |  |  |  |  |
Cash paid for acquisitions, net | $ | (31.2 | ) |  | $ | — |  |  | $ | (9.5 | ) |  | $ | — |  |  | $ | (40.7 | )
Capital expenditures | — |  |  | (70.9 | ) |  | (0.8 | ) |  | — |  |  | (71.7 | )
Proceeds from sale of property and equipment | — |  |  | 6.1 |  |  | 0.1 |  |  | — |  |  | 6.2 |
(Payments for) proceeds from other investments, net | (0.2 | ) |  | 4.6 |  |  | — |  |  | — |  |  | 4.4 |
Net cash used in investing activities | $ | (31.4 | ) |  | $ | (60.2 | ) |  | $ | (10.2 | ) |  | $ | — |  |  | $ | (101.8 | )
Cash flows (used in) provided by financing activities: |  |  |  |  |  |  |  |  |
Proceeds from credit facility, net | $ | — |  |  | $ | 60.0 |  |  | $ | — |  |  | $ | — |  |  | $ | 60.0 |
(Repayments of) proceeds from other borrowings and capital lease obligations | — |  |  | (30.3 | ) |  | — |  |  | — |  |  | (30.3 | )
Repurchase of common stock | (75.0 | ) |  | — |  |  | — |  |  | — |  |  | (75.0 | )
Excess tax benefits and proceeds from stock-based awards | 12.4 |  |  | 7.8 |  |  | — |  |  | — |  |  | 20.2 |
Payments of financing costs, including earn-outs | — |  |  | (51.3 | ) |  | — |  |  | — |  |  | (51.3 | )
Net financing activities and advances (to) from consolidated affiliates | 94.9 |  |  | (112.3 | ) |  | 17.4 |  |  | — |  |  | — |
Net cash provided by (used in) financing activities | $ | 32.3 |  |  | $ | (126.1 | ) |  | $ | 17.4 |  |  | $ | — |  |  | $ | (76.4 | )
Net (decrease) increase in cash and cash equivalents | — |  |  | (152.7 | ) |  | (4.8 | ) |  | — |  |  | (157.5 | )
Net effect of currency translation on cash | — |  |  | — |  |  | 0.2 |  |  | — |  |  | 0.2 |
Cash and cash equivalents - beginning of period | — |  |  | 158.3 |  |  | 19.3 |  |  | — |  |  | 177.6 |
Cash and cash equivalents - end of period | $ | — |  |  | $ | 5.6 |  |  | $ | 14.7 |  |  | $ | — |  |  | $ | 20.3 |
Cash and cash equivalents of discontinued operations | $ | — |  |  | $ | — |  |  | $ | 12.9 |  |  | $ | — |  |  | $ | 12.9 |
Cash and cash equivalents of continuing operations | $ | — |  |  | $ | 5.6 |  |  | $ | 1.8 |  |  | $ | — |  |  | $ | 7.4 |

X
- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCondensedBalanceSheetTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCondensedCashFlowStatementTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCondensedIncomeStatementTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_TextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration