Quarterly Financial Data

12 Months Ended

Dec. 31, 2012

Quarterly Financial Data [Abstract]

Quarterly Financial Data (Unaudited)

QUARTERLY FINANCIAL DATA (UNAUDITED)

Summarized information on our consolidated results of operations for the quarters during the year ended December 31, 2012 is shown below (in thousands, except per share amounts):

	First Quarter			Second Quarter			Third Quarter			Fourth Quarter			Total
Total revenues	$	312,031		$	331,777		$	277,852		$	315,837		$	1,237,497
(Gain) loss on disposal or impairment of long-lived assets, net (Note 6)	—			119			(3,615		)	(35		)	(3,531		)
Other operating costs and expenses	311,067			330,768			270,958			306,920			1,219,713
Total expenses	311,067			330,887			267,343			306,885			1,216,182
Earnings from equity method investments	7,498			12,289			3,116			13,133			36,036
Operating income	8,462			13,179			13,625			22,085			57,351
Other expenses, net	7,616			5,587			11,701			5,567			30,471
Income from continuing operations before income taxes	846			7,592			1,924			16,518			26,880
Income tax (benefit) expense	(1,012		)	(92		)	2,092			(3,066		)	(2,078		)
Income (loss) from continuing operations	1,858			7,684			(168		)	19,584			28,958
Income (loss) from discontinued operations, net of income taxes	252			(441		)	(264		)	3,392			2,939
Net income (loss)	2,110			7,243			(432		)	22,976			31,897
Less: net income attributable to noncontrolling interests	3,483			2,096			2,336			1,882			9,797
Net income (loss) attributable to SemGroup	$	(1,373	)	$	5,147		$	(2,768	)	$	21,094		$	22,100
Earnings (loss) per share—basic	$	(0.03	)	$	0.12		$	(0.07	)	$	0.50		$	0.53
Earnings (loss) per share—diluted	$	(0.03	)	$	0.12		$	(0.07	)	$	0.50		$	0.52

In the third quarter of 2012, we classified SemStream Arizona's residential business as discontinued operations. Prior periods were recast to reflect the discontinued operations classification. See Notes 6 and 7 for additional information.

Summarized information on our consolidated results of operations for the quarters during the year ended December 31, 2011 is shown below (in thousands, except per share amounts):

	First Quarter			Second Quarter			Third Quarter			Fourth Quarter			Total
Total revenues	$	401,714		$	341,851		$	391,522		$	330,159		$	1,465,246
(Gain) loss on disposal or impairment of long-lived assets, net (Note 6)	(64		)	(72		)	—			437			301
Other operating costs and expenses	390,093			332,921			385,039			316,697			1,424,750
Total expenses	390,029			332,849			385,039			317,134			1,425,051
Earnings from equity method investments	2,064			4,086			4,016			4,838			15,004
Operating income	13,749			13,088			10,499			17,863			55,199
Other (income) expenses, net	14,560			22,601			(5,834		)	13,822			45,149
Income (loss) from continuing operations before income taxes	(811		)	(9,513		)	16,333			4,041			10,050
Income tax (benefit) expense	(297		)	2,245			1,334			(5,592		)	(2,310		)
Income (loss) from continuing operations	(514		)	(11,758		)	14,999			9,633			12,360
Income (loss) from discontinued operations, net of income taxes	546			(541		)	(660		)	(8,893		)	(9,548		)
Net income (loss)	32			(12,299		)	14,339			740			2,812
Less: net income attributable to noncontrolling interests	—			—			—			435			435
Net income (loss) attributable to SemGroup	$	32		$	(12,299	)	$	14,339		$	305		$	2,377
Earnings (loss) per share—basic	$	0.00		$	(0.30	)	$	0.34		$	0.01		$	0.06
Earnings (loss) per share—diluted	$	0.00		$	(0.30	)	$	0.34		$	0.01		$	(0.06	)

In the third quarter of 2012, we classified SemStream Arizona's residential business as discontinued operations. Prior periods were recast to reflect the discontinued operations classification. See Notes 6 and 7 for additional information.