Company: MTZ
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000015615-25-000021
Chunk: 125

Company: MASTEC INC
Filing Date: 2025-02-28
Form: 10-K
Item: Item 4
Chunk 125
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 interests36.6 2.7 0.5 Adjusted net income attributable to MasTec, Inc.$311.7 $141.4 $230.9 

For the Years Ended December 31,202420232022Diluted earnings (loss) per share$2.06 $(0.64)$0.42 Adjustments:Non-cash stock-based compensation expense0.41 0.43 0.36 Amortization of intangible assets1.77 2.16 1.78 Loss on extinguishment of debt0.14 — — Changes in fair value of acquisition-related contingent items0.14 (0.18)(0.04)Acquisition and integration costs— 0.92 1.13 Losses, net, on fair value of investment— 0.00 0.10 Project results from non-controlled joint venture— — (0.04)Bargain purchase gain— — (0.00)Total adjustments, pre-tax$2.47 $3.33 $3.29 Income tax effect of adjustments (a)(0.57)(0.94)(0.77)Statutory and other tax rate effects (b)(0.01)0.06 0.07 Adjusted diluted earnings per share$3.95 $1.81 $3.01 

(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 years ended December 31, 2024 and 2022, our consolidated tax amounts were expenses, with effective tax rates, as reported, of 20.5% and 21.3%, respectively, and for the year ended December 31, 2023, such amount was a benefit, with effective tax rates, as reported, of 42.8%.  For the years ended December 31, 2024, 2023 and 2022, our consolidated tax amounts, as adjusted, were expenses with effective tax rates of 21.8%, 19.1% and 21.2%, respectively.

(b)    Rep