Company: MTZ
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000015615-25-000021
Chunk: 2106

Company: MASTEC INC
Filing Date: 2025-02-28
Form: 10-K
Item: Item 4
Chunk 2106
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 the bargain purchase gain from a prior year acquisition are included within Corporate EBITDA.

(b)    For the year ended December 31, 2023, Communications, Clean Energy and Infrastructure and Power Delivery EBITDA included $22.5 million, $37.1 million and $8.5 million, respectively, of acquisition and integration costs, and Corporate EBITDA included $3.8 million of such costs.  For the year ended December 31, 2022, $4.7 million, $6.4 million, $39.0 million and $8.0 million of such costs were included within Communications, Clean Energy and Infrastructure, Power Delivery and Pipeline Infrastructure EBITDA, respectively, and Corporate EBITDA included $27.9 million of such costs.

(c)    Project results from a non-controlled joint venture are included within Other segment EBITDA.

44

The tables below, which may contain slight summation differences due to rounding, reconcile reported net income and reported diluted earnings per share, the most directly comparable U.S. GAAP financial measures, to Adjusted Net Income, Adjusted Net Income Attributable to MasTec, Inc. and Adjusted Diluted Earnings Per Share.

For the Years Ended December 31,202420232022Net income (loss)$199.4 $(47.3)$33.9 Adjustments:Non-cash stock-based compensation expense32.7 33.3 27.4 Amortization of intangible assets139.9 169.2 135.9 Loss on extinguishment of debt11.3 — — Changes in fair value of acquisition-related contingent items10.7 (13.9)(3.4)Acquisition and integration costs— 71.9 86.0 Losses, net, on fair value of investment— 0.2 7.7 Project results from non-controlled joint venture— — (2.8)Bargain purchase gain— — (0.2)Total adjustments, pre-tax$194.6 $260.8 $250.7 Income tax effect of adjustments (a)(44.8)(74.0)(58.6)Statutory and other tax rate effects (b)(0.9)4.6 5.5 Adjusted net income$348.3 $144.1 $231.4 Net income attributable to non-controlling