23. Quarterly Financial Information (Unaudited)

The quarterly condensed financial data for the years ended December 31, 2015 and 2014 is presented below. Due to the TexNew Mex Pipeline Acquisition, we have adjusted retrospectively the quarterly information contained herein to include the historical results of the TexNew Mex Pipeline System acquired prior to the effective date of the TexNew Mex Pipeline Acquisition.



	Year Ended December 31, 2015
	Quarter
	First		Second		Third		Fourth
	(Unaudited) (In thousands, except per unit data)
Total revenues	$	607,396	$	735,904	$	680,670	$	575,897
Total operating costs and expenses	589,835		714,873		654,305		554,141
Operating income	17,561		21,031		26,365		21,756
Net income	13,411		14,653		20,174		15,387

Net income attributable to limited partners	$	15,323	$	15,915	$	16,493	$	14,842

Net income per limited partner unit:
Common - basic	$	0.33	$	0.34	$	0.35	$	0.30
Common - diluted	0.33		0.34		0.35		0.30
Subordinated - basic and diluted	0.33		0.34		0.35		0.29

Weighted average limited partner units outstanding:
Common - basic	23,985		24,017		24,017		24,314
Common - diluted	23,996		24,051		24,024		24,321
Subordinated - basic and diluted	22,811		22,811		22,811		22,811



	Year Ended December 31, 2014
	Quarter
	First		Second		Third		Fourth
	(Unaudited) (In thousands, except per unit data)
Total revenues	$	864,610	$	970,337	$	915,719	$	751,222
Total operating costs and expenses	848,967		953,914		899,864		728,848
Operating income	15,643		16,423		15,855		22,374
Net income	15,206		16,012		15,390		20,988

Net income attributable to limited partners	$	10,933	$	10,975	$	12,265	$	18,819

Net income per limited partner unit:
Common - basic	$	0.24	$	0.24	$	0.27	$	0.40
Common - diluted	0.24		0.24		0.27		0.40
Subordinated - basic and diluted	0.24		0.24		0.27		0.40

Weighted average limited partner units outstanding:
Common - basic	22,811		22,811		22,811		23,795
Common - diluted	22,815		22,861		22,883		23,861
Subordinated - basic and diluted	22,811		22,811		22,811		22,811

The following tables reconciles the retrospectively adjusted quarterly information to the financial data filed with the SEC.



	Year Ended December 31, 2015
	Quarter
	First			Second			Third
	(Unaudited) (In thousands)
Total revenues (1)	$	607,396		$	734,501		$	674,479
Total revenues (2)	—			1,403			6,191
Total revenues	$	607,396		$	735,904		$	680,670

Total operating costs and expenses (1)	$	587,923		$	712,208		$	651,795
Total operating costs and expenses (2)	1,912			2,665			2,510
Total operating costs and expenses	$	589,835		$	714,873		$	654,305

Operating income (1)	$	19,473		$	22,293		$	22,684
Operating income (loss) (2)	(1,912		)	(1,262		)	3,681
Operating income	$	17,561		$	21,031		$	26,365

Net income (1)	$	15,323		$	15,915		$	16,493
Net income (loss) (2)	(1,912		)	(1,262		)	3,681
Net income	$	13,411		$	14,653		$	20,174



	Year Ended December 31, 2014
	Quarter
	First			Second			Third			Fourth
	(Unaudited) (In thousands)
Total revenues (1)	$	864,610		$	970,337		$	915,719		$	751,222
Total revenues (2)	—			—			—			—
Total revenues	$	864,610		$	970,337		$	915,719		$	751,222

Total operating costs and expenses (1)	$	847,849		$	952,863		$	899,000		$	727,674
Total operating costs and expenses (2)	1,118			1,051			864			1,174
Total operating costs and expenses	$	848,967		$	953,914		$	899,864		$	728,848

Operating income (1)	$	16,761		$	17,474		$	16,719		$	23,548
Operating income (loss) (2)	(1,118		)	(1,051		)	(864		)	(1,174		)
Operating income	$	15,643		$	16,423		$	15,855		$	22,374

Net income (1)	$	16,324		$	17,060		$	16,250		$	22,159
Net loss (2)	(1,118		)	(1,048		)	(860		)	(1,171		)
Net income	$	15,206		$	16,012		$	15,390		$	20,988

(1) This financial data was filed with the SEC in our Quarterly Report on Form 10-Q or Annual Report on Form 10-K.

(2) This financial data is the historical results of the TexNew Mex Pipeline System assets. See Note 1, Organization and Basis of Presentation, for further discussion of our retrospective adjustments for the TexNew Mex Pipeline Acquisition.