Quarterly Financial Data

12 Months Ended

Dec. 31, 2013

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, 2013 is shown below (in thousands, except per share amounts):

	First Quarter			Second Quarter			Third Quarter			Fourth Quarter			Total
Total revenues	$	287,696		$	324,244		$	357,748		$	457,328		$	1,427,016
Loss (gain) on disposal of long-lived assets, net	(162		)	(376		)	408			(109		)	(239		)
Other operating costs and expenses	282,813			312,103			344,979			448,796			1,388,691
Total expenses	282,651			311,727			345,387			448,687			1,388,452
Earnings from equity method investments	17,345			14,861			7,483			12,788			52,477
Gain on issuance of common units by equity method investee	—			—			—			26,873			26,873
Operating income	22,390			27,378			19,844			48,302			117,914
Other expenses, net	27,862			10,613			13,294			17,646			69,415
Income (loss) from continuing operations before income taxes	(5,472		)	16,765			6,550			30,656			48,499
Income tax expense (benefit)	(54,006		)	9,288			3,413			24,051			(17,254		)
Income from continuing operations	48,534			7,477			3,137			6,605			65,753
Income (loss) from discontinued operations, net of income taxes	32			35			(2		)	(6		)	59
Net income	48,566			7,512			3,135			6,599			65,812
Less: net income attributable to noncontrolling interests	5,143			3,943			5,054			3,319			17,710
Net income (loss) attributable to SemGroup	$	43,423		$	3,569		$	(1,919	)	$	3,280		$	48,102
Earnings (loss) per share—basic	$	1.03		$	0.08		$	(0.05	)	$	0.08		$	1.14
Earnings (loss) per share—diluted	$	1.03		$	0.08		$	(0.05	)	$	0.08		$	1.13

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
Loss (gain) on disposal of long-lived assets, net	—			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 expense (benefit)	(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 7 and 8 for additional information.