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Quarterly Information (Unaudited)
 12 Months Ended
Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Information (Unaudited)
Note 17 – Quarterly Information (Unaudited)
The following tables present selected unaudited quarterly operating results for the years ended December 31, 2015 and 2014 (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.
 
For the 2015 Quarters Ended
 
For the 2014 Quarters Ended
 
March 31
 
June 30
 
September 30
 
December 31
 
 March 31(b)
 
June 30(b)
 
September 30(b)
 
December 31
Revenue
$
1,003.3

 
$
1,066.6

 
$
1,111.0

 
$
1,027.4

 
$
957.8

 
$
1,107.2

 
$
1,315.5

 
$
1,231.3

Costs of revenue, excluding depreciation and amortization
$
886.4

 
$
945.9

 
$
972.7

 
$
916.3

 
$
841.3

 
$
950.7

 
$
1,122.9

 
$
1,063.1

Net (loss) income from continuing operations
$
(6.4
)
 
$
(3.8
)
 
$
7.4

 
$
(76.9
)
 
$
12.3

 
$
33.7

 
$
49.4

 
$
26.6

Net (loss) income attributable to
MasTec, Inc.
$
(6.3
)
 
$
(3.7
)
 
$
7.6

 
$
(76.7
)
 
$
12.1

 
$
33.7

 
$
49.0

 
$
21.1

(Loss) earnings per share from continuing operations:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic(a)
$
(0.08
)
 
$
(0.05
)
 
$
0.10

 
$
(0.96
)
 
$
0.16

 
$
0.43

 
$
0.60

 
$
0.33

Diluted(a)
$
(0.08
)
 
$
(0.05
)
 
$
0.09

 
$
(0.96
)
 
$
0.14

 
$
0.39

 
$
0.57

 
$
0.32

(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)
Reflects restated data as previously presented in the Company’s 2014 10-K. See Independent Investigation of the Audit Committee and Related Restatements in Note 1 - Business, Basis of Presentation and Significant Accounting Policies.
During the year ended December 31, 2014, the Company acquired certain businesses, as discussed in Note 3 - Acquisitions. As a result, the quarterly results of 2015 may not be comparable with those of 2014. Other transactions affecting comparisons of the Company’s quarterly results include the effects of:
(i)
Goodwill and intangible asset impairment, pretax, totaling $78.6 million in the fourth quarter of 2015;
(ii)
WesTower acquisition integration costs, pretax, totaling $8.8 million, $7.8 million and $1.2 million in the first, second and third quarters of 2015, respectively, and $5.3 million in the fourth quarter of 2014;
(iii)
Audit Committee independent investigation related costs, pretax, totaling $3.0 million, $7.5 million, $4.1 million and $2.8 million in the first, second, third, and fourth quarters of 2015, respectively;
(iv)
Project losses on a Canadian wind project, pretax, totaling $16.0 million, $1.6 million and $3.8 million in the first, second, and third quarters of 2015, respectively;
(v)
Project losses on a proportionately consolidated non-controlled Canadian joint venture, pretax, totaling $5.5 million, $2.8 million and $8.0 million in the first, third, and fourth quarters of 2015, respectively;
(vi)
A court-mandated remediation settlement charge of $12.2 million, pretax, in the third quarter of 2015;
(vii)
Recognized unrealized losses on interest rate swaps incurred by our equity method investments in the Waha JVs, pretax, totaling $4.4 million in the fourth quarter of 2015; and
(viii)
Income tax expense of $2.8 million, primarily incurred in the second quarter of 2015, resulting from a tax law change in Alberta.