Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2023

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,
		2023		2022
Net loss attributable to MasTec:
Net loss - basic and diluted (a)		$	(80,540)	$	(34,978)


Weighted average shares outstanding:
Weighted average shares outstanding - basic(b)		76,984		74,789
Dilutive common stock equivalents (c)		—		—
Weighted average shares outstanding - diluted		76,984		74,789

(a)Basic net income or loss is calculated as total net income or loss, less amounts attributable to non-controlling interests. Diluted net income or loss is calculated as total net income or loss, less amounts attributable to non-controlling interests, adjusted for the fair value gain or loss, if any, related to additional contingent payments to the former owners of an acquired business for which the contingency has been resolved as of the respective period. See Note 3 - Acquisitions, Goodwill and Other Intangible Assets, Net, for additional information.

(b)For the three month periods ended March 31, 2023 and 2022, basic shares include approximately 99,000 and 72,000 weighted average shares, respectively, related to additional contingent payments.

(c)Weighted average anti-dilutive common stock equivalents totaled approximately 1,330,000 and 1,321,000, for the three month periods ended March 31, 2023 and 2022, respectively. For the three month period ended March 31, 2023, weighted average anti-dilutive common stock equivalents related to additional contingent payments to the former owners of an acquired business were de minimis, and for the three month period ended March 31, 2022, such anti-dilutive common stock equivalents totaled 63,000.