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Quarterly Information (Unaudited)
 12 Months Ended
Dec. 31, 2012
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Information (Unaudited)
Quarterly Information (Unaudited)
The following table presents unaudited quarterly operating results for the years ended December 31, 2012 and 2011 (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.
 
2012 Quarter Ended

2011 Quarter Ended
 
March 31
 
June 30
 
September 30
 
December 31
 
 March 31
 
June 30
 
September 30
 
December 31
Revenue
$
738.3

 
$
988.9

 
$
1,067.3

 
$
932.3

 
$
573.6

 
$
709.9

 
$
816.2

 
$
731.6

Income from continuing operations before non-controlling interests
11.7

 
31.2

 
36.1

 
37.6

 
16.3

 
43.4

 
30.8

 
7.0

Income (loss) from discontinued operations
2.5

 
(1.1
)
 
(9.3
)
 
(1.3
)
 
4.8

 
1.1

 
1.0

 
1.6

Net income attributable to MasTec
$
14.2

 
$
30.1

 
$
26.8

 
$
36.3

 
$
21.1

 
$
44.5

 
$
31.8

 
$
8.6

Basic earnings (loss) per share (a)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Continuing operations
$
0.15

 
$
0.39

 
$
0.47

 
$
0.50

 
$
0.21

 
$
0.52

 
$
0.36

 
$
0.08

Discontinued operations
0.03

 
(0.01
)
 
(0.12
)
 
(0.02
)
 
0.06

 
0.01

 
0.01

 
0.02

Total basic earnings per share
$
0.18

 
$
0.37

 
$
0.35

 
$
0.48

 
$
0.27

 
$
0.53

 
$
0.37

 
$
0.10

Diluted earnings (loss) per share (a)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Continuing operations
$
0.14

 
$
0.38

 
$
0.45

 
$
0.46

 
$
0.20

 
$
0.50

 
$
0.35

 
$
0.08

Discontinued operations
0.03

 
(0.01
)
 
(0.12
)
 
(0.02
)
 
0.06

 
0.01

 
0.01

 
0.02

Total diluted earnings per share
$
0.17

 
$
0.37

 
$
0.34

 
$
0.45

 
$
0.26

 
$
0.51

 
$
0.36

 
$
0.10

(a) Note that due to rounding differences, the sum of the Company’s quarterly earnings per share in a given year may not be the same as the Company’s year to date earnings per share for the same period. In addition, earnings per share calculations may contain slight summation differences due to rounding. See Note 2 – Earnings per Share.
During the years ended December 31, 2012 and 2011, the Company acquired certain businesses. As a result, the quarterly results of 2012 may not be comparable with those of 2011. See Note 3 - Acquisitions and Other Investments for details of the Company's recently acquired businesses.
In June 2012, the Company sold its DirectStar business. Additionally, in September 2012, MasTec's board of directors approved a plan of sale for the Globetec business. In connection with its decision to sell Globetec, the Company recognized impairment losses of $12.7 million during the third quarter of 2012. DirectStar and Globetec are presented as discontinued operations in the consolidated financial statements for all periods presented. See Note 4 - Discontinued Operations.
In addition, the Company recorded a $9.6 million legal settlement reserve in 2012 in connection with the Sintel legal matter and a $29.0 million gain on the remeasurement of its equity investment of EC Source in the second quarter of 2011. The Company also recorded a $6.4 million charge resulting from the Company's voluntarily withdrawal from a multi-employer pension plan. See Note 3 - Acquisitions and Other Investments and Note 17 - Commitments and Contingencies.