Earnings Per Share

9 Months Ended

Sep. 30, 2019

Note 2 – Earnings Per Share

Basic earnings or loss per share is computed by dividing net income 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 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 issued but unvested restricted shares. If the Company reports a loss, rather than income, the computation of diluted loss per share excludes the effect of dilutive common stock equivalents, as their effect would be anti-dilutive.

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,
	2019		2018		2019		2018
Net income attributable to MasTec:
Net income - basic and diluted ^(a)	$	128,596	$	120,666	$	291,418	$	227,718
Weighted average shares outstanding:
Weighted average shares outstanding - basic	75,217		78,096		75,131		79,399
Dilutive common stock equivalents	717		1,105		629		1,085
Weighted average shares outstanding - diluted	75,934		79,201		75,760		80,484


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

See Note 11 - Equity for details pertaining to share repurchase activity under the Company’s share repurchase programs.