Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2013

Schedule of Earnings Per Share, Basic and Diluted

The following table provides details of the Company’s earnings per share calculations for the periods indicated (in thousands, except per share amounts). The table below may contain summation differences due to rounding.



	For the Three Months Ended March 31,
	2013			2012
Basic
Net income attributable to MasTec:
Net income from continuing operations	$	19,317		$	11,695
Net (loss) income from discontinued operations	(947		)	2,477
Basic net income attributable to MasTec	$	18,370		$	14,172
Weighted average shares outstanding	76,608			80,615
Basic earnings (loss) per share:
Continuing operations	$	0.25		$	0.15
Discontinued operations	(0.01		)	0.03
Total basic earnings per share	$	0.24		$	0.18
Diluted
Net income attributable to MasTec:
Basic net income from continuing operations	$	19,317		$	11,695
Interest expense on Original 4.0% Notes, net of tax	58			58
Interest expense on Original 4.25% Notes, net of tax	19			19
Diluted net income from continuing operations	$	19,394		$	11,772
Net (loss) income from discontinued operations	(947		)	2,477
Diluted net income attributable to MasTec	$	18,447		$	14,249
Shares:
Basic weighted average shares outstanding	76,608			80,615
Dilutive common stock equivalents	785			813
Dilutive premium shares, New 4.0% Notes	3,010			809
Dilutive premium shares, New 4.25% Notes	2,885			858
Dilutive shares, Original 4.0% Notes	612			612
Dilutive shares, Original 4.25% Notes	194			194
Diluted weighted average shares outstanding	84,094			83,901
Diluted earnings (loss) per share:
Continuing operations	$	0.23		$	0.14
Discontinued operations	(0.01		)	0.03
Total diluted earnings per share	$	0.22		$	0.17

Schedule of Convertible Debt, By Dilutive and Anti-Dilutive Classification

The following table, which may contain summation differences due to rounding, summarizes the principal amounts of the Company’s outstanding convertible notes for the periods indicated, including their respective classification within the computation of earnings per share for each period (in millions):



	For the Three Months Ended March 31,
	2013		2012
Dilutive:
New 4.0% Notes ⁽¹⁾	$	105.3	$	105.3
New 4.25% Notes ⁽¹⁾	97.0		97.0
Original 4.0% Notes ⁽²⁾	9.6		9.7
Original 4.25% Notes ⁽²⁾	3.0		3.0
Total principal amount, dilutive outstanding convertible notes	$	215.0	$	215.0

(1)Dilutive shares associated with the New Convertible Notes are attributable to the premium over the respective conversion prices.

(2)Dilutive shares associated with the Original Convertible Notes are attributable to the underlying principal amounts.

Schedule Of Convertible Debt Information

Details of the calculation underlying the number of premium shares included in the Company’s diluted share count for the periods indicated are as follows (in thousands, except per share amounts):



	As of and for the Three Months Ended March 31, 2013				As of and for the Three Months Ended March 31, 2012
	New 4.0% Notes		New 4.25% Notes		New 4.0% Notes		New 4.25% Notes
Principal amount	$	105,322	$	97,000	$	105,322	$	97,000
Conversion price per share	$	15.76	$	15.48	$	15.76	$	15.48
Number of conversion shares, principal amount	6,683		6,268		6,683		6,268
Weighted average actual per share price	$	28.68	$	28.68	$	17.93	$	17.93
Excess over principal amount	$	86,316	$	82,735	$	14,512	$	15,390
Weighted average equivalent premium shares	3,010		2,885		809		858