Company: MTZ
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000015615-25-000021
Chunk: 318

Company: MASTEC INC
Filing Date: 2025-02-28
Form: 10-K
Item: Item 6
Chunk 318
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ed Diluted Earnings Per Share given their inherent volatility due to uncertainty with regard to our future geographic footprint and the associated tax rates, which may vary significantly from period to period, and, for statutory tax rate changes, due to their non-operational nature.

We believe that these non-U.S. GAAP financial measures provide meaningful information and help investors understand our financial results and assess our prospects for future performance.  Because non-U.S. GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ non-U.S. GAAP financial measures having the same or similar names.  Each company’s definitions of these adjusted measures may vary as they are not standardized and should be used together with the provided reconciliations.  These financial measures should not be considered in isolation from, as substitutes for, or alternative measures of, reported net income or diluted earnings per share, and should be viewed in conjunction with the most comparable U.S. GAAP financial measures and the provided reconciliations thereto.  We believe these non-U.S. GAAP financial measures, when viewed together with our U.S. GAAP results and related reconciliations, provide a more complete understanding of our business.  We strongly encourage investors to review our consolidated financial statements and publicly filed reports in their entirety and not rely on any single financial measure.

The following table presents a reconciliation of net income to EBITDA and Adjusted EBITDA in dollar and percentage of revenue terms, for the periods indicated.  The tables below (dollar amounts in millions) may contain slight summation differences due to rounding.

For the Years Ended December 31,EBITDA Reconciliation:202420232022Net income (loss)$199.4 1.6 %$(47.3)(0.4)%$33.9 0.3 %Interest expense, net193.3 1.6 %234.4 2.0 %112.3 1.1 %Provision for (benefit from) income taxes51.5 0.4 %(35.4)(0.3)%9.2 0.1 %Depreciation366.8 3.0 %433.9 3.6 %371.2 3.8 %Amortization of intangible assets139.9 1.1 %169.2 1.4 %135.9 1.4 %EBIT