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Quarterly Financial Information Disclosure (Unaudited) (Tables)
 12 Months Ended
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]  
Quarterly financial data
The following unaudited information shows selected items by quarter for the years 2016 and 2015:
 
First
Quarter

Second
Quarter

Third
Quarter

Fourth
Quarter

 
(In thousands, except per share amounts)
2016
 
 
 
 
Operating revenues
$
860,214

$
1,043,948

$
1,208,567

$
1,016,099

Operating expenses
798,229

954,983

1,061,883

904,613

Operating income
61,985

88,965

146,684

111,486

Income from continuing operations
31,865

46,298

88,386

66,547

Loss from discontinued operations attributable to the Company, net of tax
(6,996
)
(155,451
)
(5,400
)
(816
)
Net income (loss) attributable to the Company
24,869

(109,153
)
82,986

65,731

Earnings (loss) per common share - basic:
 

 

 

 
Earnings before discontinued operations
.16

.24

.45

.34

Discontinued operations attributable to the Company, net of tax
(.03
)
(.80
)
(.03
)
—

Earnings (loss) per common share - basic
.13

(.56
)
.42

.34

Earnings (loss) per common share - diluted:
 

 

 

 
Earnings before discontinued operations
.16

.24

.45

.33

Discontinued operations attributable to the Company, net of tax
(.03
)
(.80
)
(.03
)
—

Earnings (loss) per common share - diluted
.13

(.56
)
.42

.33

Weighted average common shares outstanding:
 

 

 

 
Basic
195,284

195,304

195,304

195,304

Diluted
195,284

195,699

195,811

195,889

 
 
 
 
 
2015
 

 

 

 

Operating revenues
$
860,845

$
938,039

$
1,198,342

$
1,016,826

Operating expenses
810,537

878,330

1,070,514

934,896

Operating income
50,308

59,709

127,828

81,930

Income from continuing operations
20,540

26,061

73,886

55,902

Loss from discontinued operations attributable to the Company, net of tax
(326,457
)
(255,665
)
(213,334
)
(3,368
)
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

.13

.38

.29

Discontinued operations attributable to the Company, net of tax
(1.67
)
(1.31
)
(1.10
)
(.02
)
Earnings (loss) per common share - basic
(1.57
)
(1.18
)
(.72
)
.27

Earnings (loss) per common share - diluted:
 

 

 

 

Earnings before discontinued operations
.10

.13

.38

.29

Discontinued operations attributable to the Company, net of tax
(1.67
)
(1.31
)
(1.10
)
(.02
)
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


Notes:
•
Fourth quarter 2016 reflects a reduction to a previously recorded MEPP withdrawal liability of $11.1 million (before tax). For more information, see Note 14.
•
2015 and first quarter 2016 have been recast to present the results of operations of Dakota Prairie Refining as discontinued operations, other than certain general and administrative costs and interest expense which were previously allocated to the former refining segment and do not meet the criteria for income (loss) from discontinued operations.
•
First quarter 2015 has been recast 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.
•
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.