17.SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)

The following table summarizes the Company’s unaudited consolidated quarterly results of operations for 2016:


	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
Revenues	$	514,680	$	727,639	$	1,084,922	$	1,048,622
Operating income		90,979		63,495		158,666		139,157
Net income		45,017		27,720		88,881		85,703
Net income attributable to Waste Connections		44,842		27,489		88,617		85,592
Basic income per common share attributable to Waste Connections’ common shareholders		0.37		0.20		0.51		0.49
Diluted income per common share attributable to Waste Connections’ common shareholders		0.36		0.20		0.50		0.49

As described in Note 3, the financial statements presented herein are the historical financial statements of Old Waste Connections with the inclusion of the results of operations from the acquired Progressive Waste operations commencing on June 1, 2016. During the first quarter of 2016, the Company incurred $8,521 of direct acquisition costs associated with the Progressive Waste acquisition. During the second quarter of 2016, the Company incurred $23,037 of direct acquisition costs associated with the Progressive Waste acquisition, $19,402 of severance-related expenses payable to personnel of Progressive Waste, $14,322 from the Company paying excise taxes levied on the unvested or vested and undistributed equity-compensation holdings of Old Waste Connections’ corporate officers resulting from the Progressive Waste acquisition and $8,022 of share-based compensation expenses related to awards granted to employees of Progressive Waste prior to June 1, 2016 for which vesting was accelerated due to plan provisions regarding a change in control followed by termination of employment. During the third quarter of 2016, the Company incurred $4,827 of severance-related expenses payable to personnel of Progressive Waste and $5,300 of incentive compensation expenses to certain of our executive officers and key employees related to the achievement of defined synergy goals realized by New Waste Connections from the Progressive Waste acquisition. During the fourth quarter of 2016, the Company incurred $6,498 of incentive compensation expenses related to the aforementioned achievement of defined synergy goals realized by New Waste Connections from the Progressive Waste acquisition.

The following table summarizes the Company’s unaudited consolidated quarterly results of operations for 2015:


	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
Revenues	$	506,100	$	531,312	$	547,938	$	531,937
Operating income (loss)		101,865		110,024		(375,152)		101,730
Net income (loss)		52,081		57,641		(256,805)		52,388
Net income (loss) attributable to Waste Connections		51,824		57,360		(257,009)		52,061
Basic income (loss) per common share attributable to Waste Connections’ common shareholders		0.42		0.46		(2.08)		0.42
Diluted income (loss) per common share attributable to Waste Connections’ common shareholders		0.42		0.46		(2.08)		0.42

During the third quarter of 2015, the Company recorded impairment charges of $411,786 associated with goodwill and $38,300 associated with indefinite-lived intangible assets in its E&P segment. The Company also recorded impairment charges of $63,928 related to property and equipment at certain E&P operating locations during the third quarter of 2015. The aforementioned impairment charges were partially offset by $20,642 of adjustments recorded during the third quarter of 2015 to reduce the fair value of amounts payable under liability-classified contingent consideration arrangements associated with the acquisition of an E&P business in 2014.