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Quarterly Information (Unaudited)
 12 Months Ended
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Information (Unaudited)
Note 16 – Quarterly Information (Unaudited)
The following table presents selected unaudited quarterly operating results for the years ended December 31, 2016 and 2015 (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. The sum of the individual quarterly amounts to the full year amounts as disclosed below may contain slight summation differences due to rounding.
 
For the 2016 Quarters Ended
 
For the 2015 Quarters Ended
 
March 31
 
June 30
 
September 30
 
December 31
 
 March 31
 
June 30
 
September 30
 
December 31
Revenue
$
974.2

 
$
1,232.4

 
$
1,586.2

 
$
1,341.9

 
$
1,003.3

 
$
1,066.6

 
$
1,111.0

 
$
1,027.4

Costs of revenue, excluding depreciation and amortization
$
884.4

 
$
1,068.2

 
$
1,369.0

 
$
1,120.6

 
$
886.4

 
$
945.9

 
$
972.7

 
$
916.3

Net (loss) income
$
(2.9
)
 
$
24.4

 
$
56.5

 
$
55.9

 
$
(6.4
)
 
$
(3.8
)
 
$
7.4

 
$
(76.9
)
Net (loss) income attributable to
MasTec, Inc.
$
(2.7
)
 
$
24.1

 
$
56.3

 
$
53.6

 
$
(6.3
)
 
$
(3.7
)
 
$
7.6

 
$
(76.7
)
(Loss) earnings per share from continuing operations:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic
$
(0.03
)
 
$
0.30

 
$
0.70

 
$
0.67

 
$
(0.08
)
 
$
(0.05
)
 
$
0.10

 
$
(0.96
)
Diluted
$
(0.03
)
 
$
0.30

 
$
0.69

 
$
0.66

 
$
(0.08
)
 
$
(0.05
)
 
$
0.09

 
$
(0.96
)

Certain transactions affecting comparisons of the Company’s quarterly results include the effects of:
(i)
Restructuring charges, pretax, totaling $4.1 million, $5.1 million, $4.7 million and $1.4 million in the first, second, third, and fourth quarters of 2016, respectively;
(ii)
Project losses on a proportionately consolidated non-controlled Canadian joint venture, pretax, totaling $5.1 million in the third quarter of 2016, and totaling $5.5 million, $2.8 million and $8.0 million in the first, third and fourth quarters of 2015, respectively;
(iii)
Goodwill and intangible asset impairment, pretax, totaling $78.6 million in the fourth quarter of 2015;
(iv)
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;
(v)
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;
(vi)
A court-mandated mediation settlement charge of $12.2 million, pretax, in the third quarter of 2015;
(vii)
A recognized unrealized loss on interest rate swaps incurred by the Waha JVs of $4.4 million, pretax, 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.