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Quarterly Financial Information (Unaudited)
 12 Months Ended
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Information (Unaudited)

19.

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

 

2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Lease revenue

 

$

33,665

 

 

$

33,785

 

 

$

49,419

 

 

$

55,230

 

 

$

172,099

 

General and administrative expense

 

 

(5,545

)

 

 

(4,980

)

 

 

(5,336

)

 

 

(5,991

)

 

 

(21,852

)

Depreciation

 

 

(11,074

)

 

 

(11,410

)

 

 

(11,828

)

 

 

(12,392

)

 

 

(46,704

)

Interest expense, net

 

 

(8,842

)

 

 

(9,055

)

 

 

(9,379

)

 

 

(9,644

)

 

 

(36,920

)

Other income

 

 

759

 

 

 

1,137

 

 

 

1,024

 

 

 

861

 

 

 

3,781

 

Income tax expense

 

 

(186

)

 

 

(293

)

 

 

(299

)

 

 

(325

)

 

 

(1,103

)

Net income

 

 

8,777

 

 

 

9,184

 

 

 

23,601

 

 

 

27,739

 

 

 

69,301

 

Less: Net income attributable to noncontrolling

   interest

 

 

2,462

 

 

 

2,576

 

 

 

6,560

 

 

 

7,749

 

 

 

19,347

 

Net income attributable to InfraREIT, Inc.

 

$

6,315

 

 

$

6,608

 

 

$

17,041

 

 

$

19,990

 

 

$

49,954

 

Basic EPS

 

$

0.14

 

 

$

0.15

 

 

$

0.39

 

 

$

0.46

 

 

$

1.14

 

Diluted EPS

 

$

0.14

 

 

$

0.15

 

 

$

0.39

 

 

$

0.46

 

 

$

1.14

 

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

 

 

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

 

$

(0.65

)

 

$

0.15

 

 

$

0.32

 

 

$

0.45

 

 

$

0.31

 

Diluted EPS

 

$

(0.65

)

 

$

0.15

 

 

$

0.32

 

 

$

0.45

 

 

$

0.31

 

 

(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.