Company: MTZ
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000015615-25-000021
Chunk: 1551

Company: MASTEC INC
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1C
Chunk 1551
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 definitions of these adjusted measures may vary as they are not standardized and should be used together with the provided reconciliations.  These financial measures should not be considered in isolation from, as substitutes for, or alternative measures of, reported net income or diluted earnings per share, and should be viewed in conjunction with the most comparable U.S. GAAP financial measures and the provided reconciliations thereto.  We believe these non-U.S. GAAP financial measures, when viewed together with our U.S. GAAP results and related reconciliations, provide a more complete understanding of our business.  We strongly encourage investors to review our consolidated financial statements and publicly filed reports in their entirety and not rely on any single financial measure.

The following table presents a reconciliation of net income to EBITDA and Adjusted EBITDA in dollar and percentage of revenue terms, for the periods indicated.  The tables below (dollar amounts in millions) may contain slight summation differences due to rounding.

For the Years Ended December 31,EBITDA Reconciliation:202420232022Net income (loss)$199.4 1.6 %$(47.3)(0.4)%$33.9 0.3 %Interest expense, net193.3 1.6 %234.4 2.0 %112.3 1.1 %Provision for (benefit from) income taxes51.5 0.4 %(35.4)(0.3)%9.2 0.1 %Depreciation366.8 3.0 %433.9 3.6 %371.2 3.8 %Amortization of intangible assets139.9 1.1 %169.2 1.4 %135.9 1.4 %EBITDA$950.8 7.7 %$754.9 6.3 %$662.5 6.8 %Non-cash stock-based compensation expense32.7 0.3 %33.3 0.3 %27.4 0.3 %Loss on extinguishment of debt11.3 0.1 %— — %— — %Changes in fair value of acquisition-related contingent items10.7 0.1 %(13.9)(0.1)%(3.4)(0.0)%Acquisition and integration