XML 41 R2.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Revenues      
Commodity sales $ 9,862,652 $ 6,858,456 $ 6,098,343
Services 2,311,255 2,062,478 1,664,863
Total revenues 12,173,907 8,920,934 7,763,206
Cost of sales and fuel (exclusive of items shown separately below) 9,538,045 6,496,124 5,641,052
Operations and maintenance 735,190 668,335 605,748
Depreciation and amortization 406,335 391,585 354,620
Impairment of long-lived assets (Note E) 15,970 0 83,673
General taxes 98,396 88,849 87,583
Gain on sale of assets (924) (9,635) (5,629)
Operating income 1,380,895 1,285,676 996,159
Equity in net earnings from investments (Note N) 159,278 139,690 125,300
Impairment of equity investments (Note N) (4,270) 0 (180,583)
Allowance for equity funds used during construction 107 209 2,179
Other income 15,385 6,091 368
Other expense (24,936) (4,059) (4,760)
Interest expense (net of capitalized interest of $5,510, $10,591 and $36,572, respectively) (485,658) (469,651) (416,787)
Income before income taxes 1,040,801 957,956 521,876
Income taxes (Note M) (447,282) (212,406) (136,600)
Income from continuing operations 593,519 745,550 385,276
Income (loss) from discontinued operations, net of tax 0 (2,051) (6,081)
Net income 593,519 743,499 379,195
Less: Net income attributable to noncontrolling interests 205,678 391,460 134,218
Net income attributable to ONEOK 387,841 352,039 244,977
Less: Preferred stock dividends 767 0 0
Net Income Available to Common Stockholders 387,074 352,039 244,977
Amounts available to common shareholders:      
Income from continuing operations 387,074 354,090 251,058
Income (loss) from discontinued operations 0 (2,051) (6,081)
Net Income Available to Common Stockholders $ 387,074 $ 352,039 $ 244,977
Basic earnings per common share:      
Income from continuing operations (Note J) $ 1.30 $ 1.68 $ 1.19
Income (loss) from discontinued operations 0.00 (0.01) (0.02)
Net income 1.30 1.67 1.17
Diluted earnings per common share:      
Income from continuing operations (Note J) 1.29 1.67 1.19
Income (loss) from discontinued operations 0.00 (0.01) (0.03)
Net income $ 1.29 $ 1.66 $ 1.16
Average shares (thousands)      
Basic 297,477 211,128 210,208
Diluted 299,780 212,383 210,541
Dividends declared per share of common stock $ 2.72 $ 2.46 $ 2.43