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Quarterly Data (Unaudited)
 12 Months Ended
Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]  
Supplementary financial information-quarterly data (Unaudited)
Supplementary Financial Information
Quarterly Data (Unaudited)
The following unaudited information shows selected items by quarter for the years 2015 and 2014:
 
First
Quarter

Second
Quarter

Third
Quarter

Fourth
Quarter

 
(In thousands, except per share amounts)
2015
 
 
 
 
Operating revenues
$
862,349

$
986,215

$
1,280,500

$
1,062,485

Operating expenses
818,680

940,887

1,170,757

1,007,092

Operating income
43,669

45,328

109,743

55,393

Income from continuing operations
15,160

14,057

53,400

32,077

Income (loss) from discontinued operations, net of tax
(324,605
)
(251,415
)
(202,626
)
6,261

Net income (loss) attributable to the Company
(305,917
)
(229,604
)
(139,448
)
52,534

Earnings (loss) per common share - basic:
 

 

 

 
Earnings before discontinued operations
.10

.11

.32

.24

Discontinued operations, net of tax
(1.67
)
(1.29
)
(1.04
)
.03

Earnings (loss) per common share - basic
(1.57
)
(1.18
)
(.72
)
.27

Earnings (loss) per common share - diluted:
 

 

 

 
Earnings before discontinued operations
.10

.11

.32

.24

Discontinued operations, net of tax
(1.67
)
(1.29
)
(1.04
)
.03

Earnings (loss) per common share - diluted
(1.57
)
(1.18
)
(.72
)
.27

Weighted average common shares outstanding:
 

 

 

 
Basic
194,479

194,805

195,151

195,266

Diluted
194,566

194,838

195,169

195,324

 
 
 
 
 
2014
 

 

 

 

Operating revenues
$
900,761

$
952,564

$
1,213,203

$
1,048,288

Operating expenses
837,153

890,210

1,094,310

973,720

Operating income
63,608

62,354

118,893

74,568

Income from continuing operations
31,027

29,446

63,639

55,051

Income from discontinued operations, net of tax
25,112

23,881

38,482

27,700

Net income attributable to the Company
56,662

54,106

103,209

84,256

Earnings per common share - basic:
 

 

 

 

Earnings before discontinued operations
.17

.16

.33

.29

Discontinued operations, net of tax
.13

.12

.20

.14

Earnings per common share - basic
.30

.28

.53

.43

Earnings per common share - diluted:
 

 

 

 

Earnings before discontinued operations
.16

.16

.33

.29

Discontinued operations, net of tax
.14

.12

.20

.14

Earnings per common share - diluted
.30

.28

.53

.43

Weighted average common shares outstanding:
 

 

 

 

Basic
189,820

192,060

193,949

194,136

Diluted
190,432

192,659

194,300

194,219


Notes:
•
First quarter 2015 reflects a MEPP withdrawal liability of $2.4 million (before tax). For more information, see Note 14.
•
Second quarter 2015 reflects an impairment of coalbed natural gas gathering assets of $3.0 million (before tax). For more information, see Note 1.
•
Third quarter 2015 reflects an impairment of coalbed natural gas gathering assets of $14.1 million (before tax). For more information, see Note 1.
•
Fourth quarter 2014 reflects a MEPP withdrawal liability of approximately $14.0 million (before tax). For more information, see Note 14.
•
2014 and first quarter 2015 have been restated to present the results of operations of Fidelity as discontinued operations, other than certain general and administrative costs and interest expense which were previously allocated to the former exploration and production segment and do not meet the criteria for income (loss) from discontinued operations.
 
Certain Company operations are highly seasonal and revenues from and certain expenses for such operations may fluctuate significantly among quarterly periods. Accordingly, quarterly financial information may not be indicative of results for a full year.