Quarterly Information (Unaudited)

12 Months Ended

Dec. 31, 2019

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, 2019 and 2018 (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 2019 Quarters Ended								For the 2018 Quarters Ended
	March 31		June 30		September 30		December 31		March 31		June 30		September 30		December 31
Revenue	$	1,518.3	$	1,939.0	$	2,016.6	$	1,709.3	$	1,396.8	$	1,617.8	$	1,977.2	$	1,917.6
Costs of revenue, excluding depreciation and amortization	$	1,312.0	$	1,633.4	$	1,690.6	$	1,434.2	$	1,237.3	$	1,366.6	$	1,681.4	$	1,654.0
Net income	$	43.1	$	120.2	$	130.1	$	100.7	$	26.5	$	80.4	$	120.5	$	31.8
Net income attributable to MasTec, Inc.	$	43.1	$	119.7	$	128.6	$	100.9	$	26.6	$	80.5	$	120.7	$	31.9
Earnings per share:
Basic	$	0.57	$	1.59	$	1.71	$	1.34	$	0.33	$	1.02	$	1.55	$	0.42
Diluted	$	0.57	$	1.58	$	1.69	$	1.33	$	0.32	$	1.01	$	1.52	$	0.41

Certain transactions affecting comparisons of the Company’s quarterly results, which may not represent the amounts recognized for the full year for such transactions, include the following:

(i) Indefinite-lived pre-qualification intangible asset impairment charges, pretax, totaling $3.3 million in the fourth quarter of 2019, and goodwill impairment charges, pretax, totaling $47.7 million in the fourth quarter of 2018;

(ii) Project gains on a proportionately consolidated non-controlled Canadian joint venture, pretax, totaling $1.0 million in the second quarter of 2018;

(iii) Excess tax benefits from share-based compensation of $2.3 million in the first quarter of 2019, and $1.6 million and $1.3 million in the fourth quarters of 2019 and 2018, respectively;

(iv)

Income tax effects from changes in Canadian provincial statutory tax rates, as well as changes in state tax rates, include a benefit of $1.4 million in the second quarter of 2019 and a benefit of $5.9 million in the fourth quarter of 2019. Income tax effects, primarily from the 2017 Tax Act, include an expense of $1.5 million in the second quarter of 2018, a benefit of $17.9 million in the third quarter of 2018 and an expense of $3.7 million in the fourth quarter of 2018.