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Quarterly Financial Information
 12 Months Ended
Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Information

22.

Quarterly Financial Information (Unaudited)

Summarized unaudited consolidated quarterly information for the years ended December 31 follows:

 

(In thousands, except per share data)

 

1st Quarter

 

 

2nd Quarter

 

 

3rd Quarter

 

 

4th Quarter

 

 

Year

 

2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Lease revenue

 

$

29,372

 

 

$

29,458

 

 

$

41,452

 

 

$

50,921

 

 

$

151,203

 

General and administrative expense

 

 

(48,733

)

 

 

(4,728

)

 

 

(5,504

)

 

 

(5,641

)

 

 

(64,606

)

Depreciation

 

 

(9,508

)

 

 

(9,671

)

 

 

(10,259

)

 

 

(10,773

)

 

 

(40,211

)

Interest expense, net

 

 

(7,422

)

 

 

(6,939

)

 

 

(6,723

)

 

 

(7,470

)

 

 

(28,554

)

Other income, net

 

 

626

 

 

 

847

 

 

 

707

 

 

 

868

 

 

 

3,048

 

Income tax expense

 

 

(208

)

 

 

(124

)

 

 

(243

)

 

 

(374

)

 

 

(949

)

Net (loss) income

 

 

(35,873

)

 

 

8,843

 

 

 

19,430

 

 

 

27,531

 

 

 

19,931

 

Less: Net (loss) income attributable to noncontrolling

   interest

 

 

(9,000

)

 

 

2,481

 

 

 

5,458

 

 

 

7,725

 

 

 

6,664

 

Net (loss) income attributable to InfraREIT, Inc.

 

$

(26,873

)

 

$

6,362

 

 

$

13,972

 

 

$

19,806

 

 

$

13,267

 

Basic EPS (1)

 

$

(0.65

)

 

$

0.15

 

 

$

0.32

 

 

$

0.45

 

 

$

0.31

 

Diluted EPS (1)

 

$

(0.65

)

 

$

0.15

 

 

$

0.32

 

 

$

0.45

 

 

$

0.31

 

2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Lease revenue

 

$

24,837

 

 

$

25,225

 

 

$

39,309

 

 

$

45,044

 

 

$

134,415

 

General and administrative expense

 

 

(3,412

)

 

 

(3,284

)

 

 

(6,143

)

 

 

(5,786

)

 

 

(18,625

)

Depreciation

 

 

(8,461

)

 

 

(8,366

)

 

 

(8,998

)

 

 

(9,255

)

 

 

(35,080

)

Interest expense, net

 

 

(7,681

)

 

 

(7,984

)

 

 

(8,699

)

 

 

(8,377

)

 

 

(32,741

)

Other (expense) income, net

 

 

(133

)

 

 

172

 

 

 

294

 

 

 

(17,569

)

 

 

(17,236

)

Income tax expense

 

 

(158

)

 

 

(250

)

 

 

(248

)

 

 

(297

)

 

 

(953

)

Net income

 

 

4,992

 

 

 

5,513

 

 

 

15,515

 

 

 

3,760

 

 

 

29,780

 

Less: Net income attributable to noncontrolling

   interest

 

 

1,147

 

 

 

1,278

 

 

 

3,621

 

 

 

836

 

 

 

6,882

 

Net income attributable to InfraREIT, Inc.

 

$

3,845

 

 

$

4,235

 

 

$

11,894

 

 

$

2,924

 

 

$

22,898

 

Basic EPS (1)

 

$

0.11

 

 

$

0.12

 

 

$

0.34

 

 

$

0.08

 

 

$

0.65

 

Diluted EPS (1)

 

$

0.11

 

 

$

0.12

 

 

$

0.34

 

 

$

0.08

 

 

$

0.65

 

 

(1)

Basic and diluted net income per common share are computed independently for each quarter and full year based on the respective average number of common shares outstanding; therefore, the sum of the quarterly net income per common share data may not equal the net income per common share for the year.