Company: MTZ
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000015615-25-000021
Chunk: 275

Company: MASTEC INC
Filing Date: 2025-02-28
Form: 10-K
Item: Item 5
Chunk 275
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 has been resolved as of the respective period.  See Note 3 - Acquisitions, Goodwill and Other Intangible Assets, Net, for additional information.(b)    Represents the fair value gain related to additional contingent payments for the year ended December 31, 2022, the effect of which was dilutive as of December 31, 2022.  See Note 3 - Acquisitions, Goodwill and Other Intangible Assets, Net, for additional information.(c)    For the years ended December 31, 2024, 2023 and 2022, basic shares include approximately 78,000, 88,000 and 127,000 weighted average shares, respectively, related to additional contingent payments.(d)    For the years ended December 31, 2024, 2023 and 2022, anti-dilutive common stock equivalents totaled approximately 16,000, 1,100,000 and 255,000, respectively, which, for the year ended December 31, 2022, included approximately 29,200 warrants associated with the Infrastructure and Energy Alternatives, Inc. (“IEA”) acquisition.(e)    For the year ended December 31, 2022, weighted average common stock equivalents related to additional contingent payments to the former owners of an acquired business totaled approximately 105,000, whereas for the years ended December 31, 2024 and 2023, there were no such weighted average common stock equivalents.Share repurchases.  There were no share repurchases under the Company’s share repurchase program for the years ended December 31, 2024 or December 31, 2023.  For the year ended December 31, 2022, the Company repurchased approximately 1,124,000 shares of its common stock, the effect of which on the Company’s weighted average shares outstanding for the related period was a reduction of approximately 731,000 shares.  See Note 11 - Equity for details of the Company’s share repurchase transactions.Shares issued for acquisitions.  The Company has issued shares of its common stock in connection with certain acquisitions.  In the fourth quarter of 2024 and second quarter of 2022, the Company issued approximately 93,000 shares and 133,000 shares, respectively, in connection with the acquisition of Henkels & McCoy Holdings, Inc., formerly known as Henkels & McCoy Group, Inc. (“HMG