Company: MTZ
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000015615-25-000021
Chunk: 1848

Company: MASTEC INC
Filing Date: 2025-02-28
Form: 10-K
Item: Item 3
Chunk 1848
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 gain related to contingent payments (b)$— $— $1,682 Net income (loss) - diluted (a)$162,788 $(49,949)$31,672 Weighted average shares outstanding:Weighted average shares outstanding - basic (c)78,049 77,535 74,917 Dilutive common stock equivalents (d)(e)831 — 1,268 Weighted average shares outstanding - diluted78,880 77,535 76,185 (a)    Basic net income or loss is calculated as total net income or loss, less amounts attributable to non-controlling interests.  Diluted net income or loss is calculated as total net income or loss, less amounts attributable to non-controlling interests, adjusted for the fair value gain or loss, if any, related to additional contingent payments to the former owners of an acquired business for which the contingency 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