Company: MTZ
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0000015615-25-000079
Chunk: 412

Company: MASTEC INC
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 7
Chunk 412
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-tax$40.2 $55.6 $79.7 $94.4 Income tax effect of adjustments (a)(8.9)(11.0)(18.3)(22.0)Adjusted net income$121.5 $88.4 $163.9 $81.7 Net income attributable to non-controlling interests4.4 9.8 6.8 16.5 Adjusted net income attributable to MasTec, Inc.$117.1 $78.6 $157.1 $65.2 

Three Months EndedJune 30, Six Months EndedJune 30, 2025202420252024Diluted earnings (loss) per share$1.09 $0.43 $1.21 $(0.09)Adjustments:Non-cash stock-based compensation expense0.12 0.09 0.21 0.21 Amortization of intangible assets0.42 0.43 0.83 0.85 Loss on extinguishment of debt— 0.14 — 0.14 Changes in fair value of acquisition-related contingent items(0.02)0.05 (0.02)(0.01)Total adjustments, pre-tax$0.51 $0.70 $1.01 $1.20 Income tax effect of adjustments (a)(0.11)(0.14)(0.23)(0.28)Adjusted diluted earnings per share$1.49 $1.00 $1.99 $0.83 

(a)    Represents the tax effects of the adjusted items that are subject to tax, including the tax effects of non-cash stock-based compensation expense, including from share-based payment awards.  Tax effects are determined based on the tax treatment of the related item, the incremental statutory tax rate of the jurisdictions pertaining to the adjustment, and their effects on pre-tax income.  For the three months ended June 30, 2025 and 2024, our consolidated tax amounts were expenses, with effective tax rates, as reported, of 25.4% and 30.7%, respectively, and as adjusted, were expenses, with effective tax rates of 24.6% and 25.5%, respectively.  For the six months ended June 30, 2025 and 2024, our consolidated tax amounts were