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Quarterly Data
12 Months Ended
Dec. 31, 2011
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Information [Text Block]

(15) Quarterly Financial Data (Unaudited)

 

Summarized unaudited quarterly financial data is presented below.

 

   First Second Third Fourth Total
                 
   (In thousands, except per unit data)
2011:               
Revenues $489,770 $525,735 $517,498 $480,939 $2,013,942
Operating income $19,238 $22,243 $15,612 $17,380 $74,473
Net income (loss) attributable to the               
 non-controlling partners $1,770 $2,648 $(364) $674 $4,728
Net loss attributable to the               
 Crosstex Energy, Inc $(1,536) $(1,073) $(1,588) $(1,810) $(6,007)
Basic earnings per common share $(0.03) $(0.02) $(0.04) $(0.03) $(0.12)
Diluted earnings per common share $(0.03) $(0.02) $(0.04) $(0.03) $(0.12)
                 
2010:               
Revenues $468,658 $442,048 $454,735 $427,235 $1,792,676
Operating income $23,788 $16,820 $16,026 $17,279 $73,913
Net income (loss) attributable to the               
 non-controlling partners $(9,611) $233 $(683) $199 $(9,862)
Net income (loss) attributable to the               
 Crosstex Energy, Inc $(5,402) $(2,181) $(1,980) $(2,088) $(11,651)
Basic earnings per common share $(0.11) $(0.05) $(0.04) $(0.04) $(0.24)
Diluted earnings per common share $(0.11) $(0.05) $(0.04) $(0.04) $(0.24)

  • The Partnership determined that revenues and purchased gas costs related to a new gas purchase arrangement were improperly classified as energy trading activities resulting in the netting of revenue and purchased gas which should have been shown on a gross basis in its previously-issued financial statements for the three months ended March 31, 2011 and June 30, 2011. As a result both revenues and purchased gas were understated by $39.5 million and $29.6 million for the three months ended March 31, 2011 and June 30, 2011. The revenue numbers for both March 31, 2011 and June 30, 2011 properly reflect this adjustment. There is no impact on operating income.