v3.26.3
Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 481,816 $ 396,030
Accounts receivable, net of allowance 2,540,696 1,540,263
Contract assets 2,778,154 2,001,913
Inventories, net 110,531 112,465
Prepaid expenses 136,084 183,575
Other current assets 154,045 94,833
Total current assets 6,201,326 4,329,079
Property and equipment, net 2,058,714 1,728,470
Operating lease right-of-use assets 522,649 457,270
Goodwill, net 3,037,312 2,248,992
Other intangible assets, net 1,732,989 656,248
Other long-term assets 584,099 503,483
Total assets 14,137,089 9,923,542
Current liabilities:    
Current portion of long-term debt, including finance leases 180,704 154,311
Current portion of operating lease liabilities 200,541 175,649
Accounts payable 1,947,737 1,280,897
Accrued salaries and wages 372,523 248,266
Other accrued expenses 556,102 540,778
Contract liabilities 1,101,464 747,730
Other current liabilities 115,056 123,414
Total current liabilities 4,474,127 3,271,045
Long-term debt, including finance leases 3,987,761 2,176,372
Long-term operating lease liabilities 335,583 292,839
Deferred income taxes 518,731 478,156
Other long-term liabilities 621,522 370,609
Total liabilities 9,937,724 6,589,021
Commitments and contingencies (Note 13)
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 - 99,436,499 and 99,319,916 (including 1,018,567 and 1,038,778 of unvested stock awards) as of September 30, 2026 and December 31, 2025, respectively 9,944 9,932
Capital surplus 1,723,049 1,319,920
Retained earnings 3,049,146 2,707,623
Accumulated other comprehensive loss (42,080) (44,033)
Treasury stock, at cost: 19,135,239 and 20,422,329 shares as of September 30, 2026 and December 31, 2025, respectively (687,865) (734,133)
Total MasTec, Inc. shareholders’ equity 4,052,194 3,259,309
Non-controlling interests 147,171 75,212
Total equity 4,199,365 3,334,521
Total liabilities and equity $ 14,137,089 $ 9,923,542