Company: MTZ
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000015615-25-000021
Chunk: 830

Company: MASTEC INC
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1
Chunk 830
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U 2023-09 is effective for annual periods beginning after December 15, 2024, with early adoption permitted.  ASU 2023-09 is effective on a prospective basis, with retrospective application permitted.  The Company is currently evaluating the effects of this ASU on its income tax disclosures.Other Recently Issued Accounting PronouncementsIn March 2024, the Securities and Exchange Commission (“SEC”) adopted final rules under SEC Release No. 33-11275, The Enhancement and Standardization of Climate-Related Disclosures for Investors, which requires registrants to provide certain climate-related disclosures in registration statements and annual reports.  The new rules are scheduled to begin to phase in for fiscal years beginning on or after January 1, 2025, on a prospective basis.  On April 4, 2024, the SEC voluntarily stayed implementation of the final rules pending certain legal challenges to the rules.  The Company is currently monitoring developments related to the rules and evaluating their potential effect on its consolidated financial statements.In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”) to enhance the transparency and clarity of the components of specific expense categories in the income statement.  ASU 2024-03 requires disclosure of additional information about specific expense categories underlying certain income statement expense line items.  In January 2025, the FASB issued ASU 2025-01, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses: Clarifying the Effective Date to clarify that all public business entities are required to adopt the guidance in annual periods beginning after December 15, 2026, and interim periods within annual periods beginning after December 15, 2027.  Early adoption is permitted.  The amendments in ASU 2024-03, and its related clarifying ASU, should be applied prospectively, with retrospective application permitted.  The Company is currently evaluating the impact this standard will have on its disclosures.

Note 2 – Earnings Per Share 

Basic earnings or loss per share is computed by dividing net income or loss attributable to MasTec by the weighted average number of common shares outstanding for the period, which excludes non-participating unvested restricted share awards.  Dil