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Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 249,326 $ 529,561
Accounts receivable, net of allowance 1,310,483 1,370,074
Contract assets 1,585,023 1,756,381
Inventories, net 112,323 108,146
Prepaid expenses 102,050 105,880
Other current assets 86,265 104,211
Total current assets 3,445,470 3,974,253
Property and equipment, net 1,572,766 1,651,462
Operating lease right-of-use assets 424,575 418,685
Goodwill, net 2,126,041 2,126,366
Other intangible assets, net 751,008 784,260
Other long-term assets 425,493 418,485
Total assets 8,745,353 9,373,511 Close
Current liabilities:    
Current portion of long-term debt, including finance leases 180,638 177,246
Current portion of operating lease liabilities 144,317 137,765
Accounts payable 965,308 1,242,602
Accrued salaries and wages 215,678 198,943
Other accrued expenses 398,432 415,075
Contract liabilities 548,641 480,967
Other current liabilities 180,357 184,621
Total current liabilities 2,633,371 2,837,219
Long-term debt, including finance leases 2,537,091 2,888,058
Long-term operating lease liabilities 291,707 292,873
Deferred income taxes 347,424 390,399
Other long-term liabilities 245,736 243,701
Total liabilities 6,055,329 6,652,250 Close
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 - 99,272,155 and 99,093,134 (including 1,559,852 and 1,504,996 of unvested stock awards) as of March 31, 2024 and December 31, 2023, respectively 9,927 9,909
Capital surplus 1,270,291 1,263,360
Retained earnings 2,104,613 2,145,793
Accumulated other comprehensive loss (50,654) (52,997)
Treasury stock, at cost: 19,813,055 shares as of both March 31, 2024 and December 31, 2023. (659,913) (659,913)
Total MasTec, Inc. shareholders’ equity 2,674,264 2,706,152
Non-controlling interests 15,760 15,109
Total equity 2,690,024 2,721,261 Close
Total liabilities and equity $ 8,745,353 $ 9,373,511