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Quarterly Information (Unaudited)
 12 Months Ended
Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Information (Unaudited)
Quarterly Information (Unaudited)

 
 
First Quarter
 
Second Quarter
 
Third Quarter
 
Fourth Quarter
 
Year
 
 
(In thousands, except per share data)
Year Ended December 31, 2018
 
 
 
 
 
 
 
 
 
 
Sales and other revenues
 
$
4,128,427

 
$
4,471,236

 
$
4,770,799

 
$
4,344,204

 
$
17,714,666

Operating costs and expenses
 
$
3,732,580

 
$
3,964,259

 
$
4,267,282

 
$
4,126,552

 
$
16,090,673

Income from operations (1)
 
$
395,847

 
$
506,977

 
$
503,517

 
$
217,652

 
$
1,623,993

Income before income taxes
 
$
373,899

 
$
480,360

 
$
478,390

 
$
191,818

 
$
1,524,467

Net income attributable to HollyFrontier stockholders
 
$
268,091

 
$
345,507

 
$
342,466

 
$
141,896

 
$
1,097,960

Net income per share attributable to HollyFrontier stockholders - basic
 
$
1.51

 
$
1.96

 
$
1.95

 
$
0.82

 
$
6.25

Net income per share attributable to HollyFrontier stockholders - diluted
 
$
1.50

 
$
1.94

 
$
1.93

 
$
0.81

 
$
6.19

Dividends per common share
 
$
0.33

 
$
0.33

 
$
0.33

 
$
0.33

 
$
1.32

Average number of shares of common stock outstanding:
 
 
 
 
 
 
 
 
 
 
Basic
 
176,617

 
175,899

 
175,097

 
172,485

 
175,009

Diluted
 
177,954

 
177,586

 
176,927

 
174,259

 
176,661

 
 
 
 
 
 
 
 
 
 
 
Year Ended December 31, 2017
 
 
 
 
 
 
 
 
 
 
Sales and other revenues
 
$
3,080,483

 
$
3,458,864

 
$
3,719,247

 
$
3,992,705

 
$
14,251,299

Operating costs and expenses
 
$
3,114,019

 
$
3,338,034

 
$
3,270,834

 
$
3,627,875

 
$
13,350,762

Income (loss) from operations (2) (3)
 
$
(33,536
)
 
$
120,830

 
$
448,413

 
$
364,830

 
$
900,537

Income (loss) before income taxes
 
$
(54,571
)
 
$
106,069

 
$
446,103

 
$
371,262

 
$
868,863

Net income (loss) attributable to HollyFrontier stockholders
 
$
(45,468
)
 
$
57,767

 
$
272,014

 
$
521,082

 
$
805,395

Net income (loss) per share attributable to HollyFrontier stockholders - basic
 
$
(0.26
)
 
$
0.33

 
$
1.53

 
$
2.94

 
$
4.54

Net income (loss) per share attributable to HollyFrontier stockholders - diluted
 
$
(0.26
)
 
$
0.33

 
$
1.53

 
$
2.92

 
$
4.52

Dividends per common share
 
$
0.33

 
$
0.33

 
$
0.33

 
$
0.33

 
$
1.32

Average number of shares of common stock outstanding:
 
 
 
 
 
 
 
 
 
 
Basic
 
176,210

 
176,147

 
176,149

 
176,265

 
176,174

Diluted
 
176,210

 
176,302

 
176,530

 
177,457

 
177,196


(1) For 2018, income from operations reflects non-cash lower of cost or market inventory valuation reductions of $103.8 million and $106.9 million for the first and second quarters, respectively, and a charge of $17.8 million and $329.2 million for the third and fourth quarters, respectively.

(2) For 2017, income from operations reflects long-lived asset impairment charges of $23.2 million in the second quarter.

(3) For 2017, income from operations reflects non-cash lower of cost or market inventory valuation charges of $11.8 million and $84.0 million for the first and second quarters, respectively, and a reduction of $111.1 million and $93.4 million for the third and fourth quarters, respectively.