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Quarterly Information (Unaudited)
 12 Months Ended
Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Information (Unaudited)
Note 19 – Quarterly Information (Unaudited)
The following tables present selected unaudited quarterly operating results for the years ended December 31, 2014 and 2013 (in millions, except per share data). The quarterly results for the quarters ended March 31, 2014, June 30, 2014 and September 30, 2014 are presented as restated, as discussed in Note 2 - Independent Investigation of the Audit Committee and Related Restatements. 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.
 
For the 2014 Quarters Ended
 
For the 2013 Quarters Ended
 
March 31
 
June 30
 
September 30
 
December 31
 
 March 31
 
June 30
 
September 30
 
December 31
 
As Restated
 
As Restated
 
As Restated
 
(b)
 
 
 
 
 
 
 
 
Revenue
$
957.8

 
$
1,107.2

 
$
1,315.5

 
$
1,231.3

 
$
918.6

 
$
977.6

 
$
1,269.4

 
$
1,159.1

Costs of revenue, excluding depreciation and amortization
$
841.3

 
$
950.7

 
$
1,122.9

 
$
1,063.1

 
$
791.5

 
$
822.7

 
$
1,081.1

 
$
987.0

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income from continuing operations
$
12.3

 
$
33.7

 
$
49.4

 
$
26.6

 
$
19.3

 
$
35.5

 
$
49.9

 
$
42.9

Net loss from discontinued operations
(0.1
)
 
(0.1
)
 
(0.3
)
 
(5.9
)
 
(0.9
)
 
(0.5
)
 
(3.7
)
 
(1.3
)
Net (loss) income attributable to non-controlling interests
0.0

 
(0.1
)
 
0.1

 
(0.4
)
 
0.0

 
0.1

 
0.1

 
0.1

Net income attributable to
MasTec, Inc.
$
12.1

 
$
33.7

 
$
49.0

 
$
21.1

 
$
18.4

 
$
34.9

 
$
46.1

 
$
41.5

Basic earnings (loss) per share:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Continuing operations
$
0.16

 
$
0.43

 
$
0.60

 
$
0.33

 
$
0.25

 
$
0.46

 
$
0.65

 
$
0.55

Discontinued operations
0.00

 
0.00

 
0.00

 
(0.07
)
 
(0.01
)
 
(0.01
)
 
(0.05
)
 
(0.02
)
Total basic earnings per share (a)
$
0.16

 
$
0.43

 
$
0.60

 
$
0.26

 
$
0.24

 
$
0.46

 
$
0.60

 
$
0.54

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

 
$
0.39

 
$
0.57

 
$
0.32

 
$
0.23

 
$
0.42

 
$
0.59

 
$
0.50

Discontinued operations
0.00

 
0.00

 
0.00

 
(0.07
)
 
(0.01
)
 
(0.01
)
 
(0.04
)
 
(0.02
)
Total diluted earnings per share (a)
$
0.14

 
$
0.39

 
$
0.57

 
$
0.25

 
$
0.22

 
$
0.41

 
$
0.54

 
$
0.49

(a)
Earnings per share calculations, including the sum of the individual quarterly earnings per share amounts to the full year earnings per share amounts, may contain slight summation differences due to rounding.
(b)
Preliminary, unaudited fourth quarter and full year 2014 results were previously issued pursuant to a press release dated February 26, 2015 and not previously filed in a report under the Securities Exchange Act of 1934, as amended. The unaudited quarterly information for the three month period ended December 31, 2014 in the table above includes the effect of adjustments determined by management following the review process described in Note 2 - Independent Investigation of the Audit Committee and Related Restatements.
During the years ended December 31, 2014 and 2013, the Company acquired and disposed of certain businesses. As a result, the quarterly results of 2014 may not be comparable with those of 2013. Other transactions affecting comparisons of the Company’s quarterly results include: (i) $5.3 million of WesTower acquisition integration costs recorded in the fourth quarter of 2014; (ii) $5.6 million of debt extinguishment charges recorded in the first quarter of 2013; and (iii) $2.8 million of Sintel legal settlement charges recorded in the second quarter of 2013.