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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 396,030 $ 399,903
Accounts receivable, net of allowance 1,540,263 1,381,462
Contract assets 2,001,913 1,555,807
Inventories, net 112,465 107,345
Prepaid expenses 183,575 118,888
Other current assets 94,833 89,125
Total current assets 4,329,079 3,652,530
Property and equipment, net 1,728,470 1,548,916
Operating lease right-of-use assets 457,270 396,151
Goodwill, net 2,248,992 2,203,077
Other intangible assets, net 656,248 727,366
Other long-term assets 503,483 447,235
Total assets 9,923,542 8,975,275
Current liabilities:    
Current portion of long-term debt, including finance leases 154,311 186,095
Current portion of operating lease liabilities 175,649 146,183
Accounts payable 1,280,897 1,105,747
Accrued salaries and wages 248,266 205,152
Other accrued expenses 540,778 455,043
Contract liabilities 747,730 735,625
Other current liabilities 123,414 165,854
Total current liabilities 3,271,045 2,999,699
Long-term debt, including finance leases 2,176,372 2,038,017
Long-term operating lease liabilities 292,839 261,303
Deferred income taxes 478,156 362,772
Other long-term liabilities 370,609 326,141
Total liabilities 6,589,021 5,987,932
Commitments and contingencies (Note 15)
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 - 99,319,916 and 99,029,011 (including 1,038,778 and 1,130,020 of unvested stock awards) as of December 31, 2025 and 2024, respectively 9,932 9,903
Capital surplus 1,319,920 1,291,027
Retained earnings 2,707,623 2,308,581
Accumulated other comprehensive loss (44,033) (40,847)
Treasury stock, at cost: 20,422,329 and 19,719,796 shares as of December 31, 2025 and 2024, respectively (734,133) (656,807)
Total MasTec, Inc. shareholders’ equity 3,259,309 2,911,857
Non-controlling interests 75,212 75,486
Total equity 3,334,521 2,987,343
Total liabilities and equity $ 9,923,542 $ 8,975,275