Earnings Per Share

3 Months Ended

Mar. 31, 2021

Note 2 – Earnings Per Share

Basic earnings 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 March 31,
	2021		2020
Net income attributable to MasTec:
Net income - basic and diluted (a)	$	65,649	$	36,230
Weighted average shares outstanding:
Weighted average shares outstanding - basic	72,439		74,738
Dilutive common stock equivalents (b)	1,407		675
Weighted average shares outstanding - diluted	73,846		75,413

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

(b)For the three month period ended March 31, 2021, there were 22,527 anti-dilutive common stock equivalents.