Quarterly Information (Unaudited)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Quarterly Information (Unaudited)

Note 16 – Quarterly Information (Unaudited)

The following table presents selected unaudited quarterly operating results for the years ended December 31, 2020 and 2019 (in millions, except per share data). The Company believes that all necessary adjustments have been included in the amounts stated below to present fairly the quarterly results when read in conjunction with the consolidated financial statements and notes thereto. The sum of the individual quarterly amounts to the full year amounts as disclosed below may contain slight summation differences due to rounding.

	For the 2020 Quarters Ended								For the 2019 Quarters Ended
	March 31		June 30		September 30		December 31		March 31		June 30		September 30		December 31
Revenue	$	1,416.6	$	1,569.3	$	1,698.3	$	1,636.8	$	1,518.3	$	1,939.0	$	2,016.6	$	1,709.3
Costs of revenue, excluding depreciation and amortization	$	1,226.3	$	1,341.8	$	1,380.5	$	1,322.2	$	1,312.0	$	1,633.4	$	1,690.6	$	1,434.2
Net income	$	36.1	$	56.8	$	116.9	$	112.9	$	43.1	$	120.2	$	130.1	$	100.7
Net income attributable to MasTec, Inc.	$	36.2	$	57.0	$	116.5	$	113.1	$	43.1	$	119.7	$	128.6	$	100.9
Earnings per share:
Basic	$	0.48	$	0.79	$	1.61	$	1.56	$	0.57	$	1.59	$	1.71	$	1.34
Diluted	$	0.48	$	0.78	$	1.59	$	1.54	$	0.57	$	1.58	$	1.69	$	1.33

Certain transactions affecting comparisons of the Company’s quarterly results, which may not represent the amounts recognized for the full year for such transactions, include the following:

(i)    Loss on extinguishment of debt totaling $5.6 million in the third quarter of 2020;

(ii)    Indefinite-lived pre-qualification intangible asset impairment charges, pretax, totaling $3.3 million in the fourth quarter of 2019;

(iii)    Net tax deficiencies from the vesting of share-based payment awards of $0.1 million in the first quarter of 2020, and net tax benefits of $0.6 million in the fourth quarter of 2020. Net tax benefits from the vesting of share-based payment awards of $2.3 million and $1.6 million in the first and fourth quarters of 2019, respectively.

(iv)    Income tax effects from changes in state tax rates totaling an expense of $2.5 million in the fourth quarter of 2020; and income tax effects from changes in Canadian provincial statutory tax rates as well as changes in state tax rates totaling benefits of $1.4 million, $0.5 million and $5.9 million in the second, third and fourth quarters of 2019, respectively.