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Earnings Per Share (Tables)
 6 Months Ended
Jun. 30, 2013
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted
The following table, which may contain slight summation differences due to rounding, provides details of the Company’s earnings per share calculations for the periods indicated (in thousands, except per share amounts).
 
For the Three Months Ended June 30,
 
For the Six Months Ended June 30,
 
2013
 
2012
 
2013
 
2012
Basic
 
 
 
 
 
 
 
Net income attributable to MasTec:
 
 
 
 
 
 
 
Net income from continuing operations
$
35,425

 
$
31,164

 
$
54,742

 
$
42,859

Net (loss) income from discontinued operations
(484
)
 
(1,072
)
 
(1,431
)
 
1,405

Basic net income attributable to MasTec
$
34,941

 
$
30,092

 
$
53,311

 
$
44,264

Weighted average shares outstanding
76,741

 
80,249

 
76,675

 
80,432

Basic earnings (loss) per share:


 


 
 
 
 
Continuing operations
$
0.46

 
$
0.39

 
$
0.71

 
$
0.53

Discontinued operations
(0.01
)
 
(0.01
)
 
(0.02
)
 
0.02

Total basic earnings per share
$
0.46

 
$
0.37

 
$
0.70

 
$
0.55

Diluted


 


 
 
 
 
Net income attributable to MasTec:


 


 
 
 
 
Basic net income from continuing operations
$
35,425

 
$
31,164

 
$
54,742

 
$
42,859

Interest expense on original 4.0% notes, net of tax
59

 
59

 
118

 
116

Interest expense on original 4.25% notes, net of tax
20

 
19

 
39

 
39

Diluted net income from continuing operations
$
35,504

 
$
31,242

 
$
54,899

 
$
43,014

Net (loss) income from discontinued operations
(484
)
 
(1,072
)
 
(1,431
)
 
1,405

Diluted net income attributable to MasTec
$
35,020

 
$
30,170

 
$
53,468

 
$
44,419

Shares:


 


 
 
 
 
Basic weighted average shares outstanding
76,741

 
80,249

 
76,675

 
80,432

Dilutive common stock equivalents
776

 
799

 
781

 
815

Dilutive premium shares, new 4.0% notes
3,187

 
260

 
3,104

 
545

Dilutive premium shares, new 4.25% notes
3,048

 
352

 
2,971

 
615

Dilutive shares, original 4.0% notes
612

 
612

 
612

 
612

Dilutive shares, original 4.25% notes
194

 
194

 
194

 
194

Diluted weighted average shares outstanding
84,558

 
82,466

 
84,337

 
83,213

Diluted earnings (loss) per share:


 


 
 
 
 
Continuing operations
$
0.42

 
$
0.38

 
$
0.65

 
$
0.52

Discontinued operations
(0.01
)
 
(0.01
)
 
(0.02
)
 
0.02

Total diluted earnings per share
$
0.41

 
$
0.37

 
$
0.63

 
$
0.53
Schedule of Convertible Debt, By Dilutive and Anti-Dilutive Classification
The following table 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 the periods indicated (in millions):
 
Three and Six Months Ended June 30,
 
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 weighted average premium value, in shares, of the conversion shares underlying the New Convertible Notes in excess of the respective principal amounts thereof.
(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 June 30,
 
As of and for the Six Months Ended June 30,
 
2013
 
2012
 
2013
 
2012
 
New 4.0%
Notes
 
New 4.25%
Notes
 
New 4.0%
Notes
 
New 4.25%
Notes
 
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

 
$
105,322

 
$
97,000

 
$
105,322

 
$
97,000

Conversion price per share
$
15.76

 
$
15.48

 
$
15.76

 
$
15.48

 
$
15.76

 
$
15.48

 
$
15.76

 
$
15.48

Number of conversion shares, principal amount
6,683

 
6,268

 
6,683

 
6,268

 
6,683

 
6,268

 
6,683

 
6,268

Weighted average actual per share price
$
30.13

 
$
30.13

 
$
16.40

 
$
16.40

 
$
29.43

 
$
29.43

 
$
17.16

 
$
17.16

Excess over principal amount
$
96,021

 
$
91,837

 
$
4,261

 
$
5,777

 
$
91,325

 
$
87,433

 
$
9,345

 
$
10,545

Weighted average equivalent premium shares
3,187

 
3,048

 
260

 
352

 
3,104

 
2,971

 
545

 
615