Earnings Per Share

9 Months Ended

Sep. 30, 2016

Note 2 – Earnings Per Share

Basic earnings or loss per share is computed by dividing net income or loss attributable to MasTec by the weighted average number of common shares outstanding for the period, which excludes non-participating unvested restricted share awards. Diluted earnings per share is computed by dividing net income or loss attributable to MasTec by the weighted average number of fully diluted shares, as calculated under the treasury stock method, which includes the potential effect of dilutive common stock equivalents, such as outstanding but unexcercised stock options and/or issued but unvested restricted shares. If the Company reports a loss, rather than income, the computation of diluted loss per share excludes dilutive common stock equivalents, as their effect would be anti-dilutive. For the nine month period ended September 30, 2015, the Company reported a net loss, which resulted in the exclusion of 648,379 weighted average dilutive common stock equivalents from the calculation of diluted loss per share.

The following table provides details underlying the Company’s earnings per share calculations for the periods indicated (in thousands):



	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2016		2015		2016		2015
Net income (loss) attributable to MasTec:
Net income (loss) - basic and diluted ^(a)	$	56,277	$	7,618	$	77,672	$	(2,346	)
Weighted average shares outstanding:
Weighted average shares outstanding - basic ^(b)	80,462		79,845		80,323		80,681
Dilutive common stock equivalents	1,083		603		918		—
Weighted average shares outstanding - diluted	81,545		80,448		81,241		80,681


(a)	Calculated as total net income (loss) less amounts attributable to non-controlling interests.


(b)	Excludes non-participating unvested restricted share awards and treasury stock.