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Stock-Based Compensation and Other Employee Benefit Plans | 9 Months Ended
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Sep. 30, 2015
Share-based Compensation [Abstract] |
Stock-Based Compensation and Other Employee Benefit Plans | Note 10 – Stock-Based Compensation and Other Employee Benefit Plans The Company has stock-based compensation plans, under which stock options, restricted stock awards and restricted stock units are reserved for issuance. Under all stock-based compensation plans in effect as of September 30, 2015, there were approximately 5,378,000 shares available for future grant. Restricted Shares MasTec grants restricted stock awards and restricted stock units (together “restricted shares”), which are valued based on the closing share price of MasTec common stock on the date of grant. During the restriction period, holders of restricted stock awards are entitled to vote the shares. Total unearned compensation related to restricted shares as of September 30, 2015 was approximately $16.8 million, which is expected to be recognized over a weighted average period of approximately 1.6 years. T he intrinsic value, or fair value, of restricted shares that vested, which is based on the market price on the date of vesting, totaled $0.2 million and $1.1 million for the three month periods ended September 30, 2015 and 2014, respectively, and totaled $3.7 million and $7.1 million for the nine month periods ended September 30, 2015 and 2014, respectively.
Activity, restricted shares: | Restricted Shares |  | Per Share Weighted Average Grant Date Fair Value
Non-vested restricted shares, as of December 31, 2014 | 1,414,645 |  |  | $ | 25.32 |
Granted | 87,690 |  |  | 18.40 |
Vested | (199,235 | ) |  | 18.22 |
Canceled/forfeited | (17,774 | ) |  | 28.42 |
Non-vested restricted shares, as of September 30, 2015 | 1,285,326 |  |  | $ | 25.90 |
Stock Options The Company has granted options to purchase its common stock to employees and members of the Board of Directors and affiliates under various stock option plans at not less than the fair market value of the underlying stock on the date of grant. All outstanding stock options are fully vested.
Activity, stock options: | Stock Options |  | Per Share Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Life (in years) |  | Aggregate Intrinsic Value (a) (in millions)
Options outstanding and exercisable as of December 31, 2014 | 284,671 |  |  | $ | 12.06 |  |  | 1.29 |  | $ | 3.0 |
Exercised | (71,971 | ) |  | 9.00 |  |  |  |  |
Options outstanding and exercisable as of September 30, 2015 | 212,700 |  |  | $ | 13.10 |  |  | 0.79 |  | $ | 0.6 |
(a) | Amount represents the difference between the exercise price and the closing share price of the Company’s stock on the last trading day of the corresponding period, multiplied by the number of in-the-money options.
The intrinsic value of options exercised, which is based on the difference between the exercise price and the closing market share price of the Company’s common stock on the date of exercise, totaled $0.7 million and $6.5 million for the nine month periods ended September 30, 2015 and 2014, respectively. Proceeds from options exercised during the nine month periods ended September 30, 2015 and 2014 totaled $0.4 million and $0.8 million, respectively. Employee Stock Purchase Plans The Company has certain employee stock purchase plans (collectively “ESPPs”) under which shares of the Company's common stock are available for purchase by eligible employees. The following table provides details pertaining to the Company’s ESPPs for the periods indicated:
| For the Nine Months Ended September 30,
| 2015 |  | 2014
Cash proceeds (in millions) | $ | 1.3 |  |  | $ | 2.5 |
Common shares issued | 86,687 |  |  | 94,761 |
Weighted average price per share | $ | 15.33 |  |  | $ | 26.60 |
Weighted average per share grant date fair value | $ | 4.20 |  |  | $ | 6.34 |
Due to the delay in filing of the Company’s 2014 Form 10-K, contributions to the ESPPs were temporarily suspended in the second quarter of 2015. Contributions resumed in the third quarter of 2015. Non-Cash Stock-Based Compensation Expense Details of non-cash stock-based compensation expense and related tax benefits for the periods indicated were as follows (in millions):
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
| 2015 |  | 2014 |  | 2015 |  | 2014
Non-cash stock-based compensation expense | $ | 3.2 |  |  | $ | 4.1 |  |  | $ | 9.5 |  |  | $ | 11.6 |
Income Tax Effects: |  |  |  |  |  |  |
Income tax benefit from non-cash stock-based compensation | $ | 1.2 |  |  | $ | 1.8 |  |  | $ | 3.7 |  |  | $ | 8.4 |
Excess tax benefit from non-cash stock-based compensation (a) | $ | 0.0 |  |  | $ | 0.1 |  |  | $ | 0.1 |  |  | $ | 3.5 |
(a) | Excess tax benefits, which represent cash flows from tax deductions in excess of the tax effect of compensation expense associated with exercised stock options and vested restricted shares, are classified as financing cash flows in the Company’s condensed unaudited consolidated statements of cash flows.

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51659978&loc=d3e25284-112666 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 + Details
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