Summarized unaudited quarterly financial data is presented below. Operating revenues, gross profit, operating income and net income are now presented on a continuing and discontinued basis, which were not previously reported. The sum of net income per share by quarter may not equal the net income per share for the fiscal year due to variations in the weighted average shares outstanding used in computing such amounts. Our businesses are seasonal due to weather conditions in our service areas. For further information on its effects on quarterly results, see the “Results of Operations” discussion included in the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” section herein.



	Quarter Ended
	December 31			March 31			June 30			September 30
	(In thousands, except per share data)
Fiscal year 2016:
Operating revenues
Distribution	$	649,443		$	862,127		$	424,905		$	403,303
Pipeline and storage	98,416			102,153			113,855			112,772
Intersegment eliminations	(73,106		)	(74,240		)	(82,548		)	(82,432		)
Operating revenues from continuing operations	674,753			890,040			456,212			433,643
Operating revenues from discontinued operations ⁽¹⁾	231,468			242,253			176,704			244,876

Gross profit from continuing operations	434,427			512,684			391,629			369,716
Gross profit from discontinued operations	9,469			5,260			15,815			6,428
Operating income from continuing operations	192,729			251,656			128,396			84,449
Operating income (loss) from discontinued operations	3,476			(1,640		)	8,768			184
Income from continuing operations	101,546			143,003			66,143			34,850
Income (loss) from discontinued operations	1,315			(1,193		)	5,050			(610		)
Net income	102,861			141,810			71,193			34,240
Basic earnings per share
Income per share from continuing operations	$	0.99		$	1.39		$	0.64		$	0.33
Income (loss) per share from discontinued operations	0.01			(0.01		)	0.05			—
Net income per share — basic	$	1.00		$	1.38		$	0.69		$	0.33
Diluted earnings per share
Income per share from continuing operations	$	0.99		$	1.39		$	0.64		$	0.33
Income (loss) per share from discontinued operations	0.01			(0.01		)	0.05			—
Net income per share — diluted	$	1.00		$	1.38		$	0.69		$	0.33


⁽¹⁾	Operating revenues from discontinued operations are shown net of intersegment eliminations.



	Quarter Ended
	December 31			March 31			June 30			September 30
	(In thousands, except per share data)
Fiscal year 2015:
Operating revenues
Distribution	$	864,767		$	1,145,082		$	429,482		$	382,031
Pipeline and storage	87,161			96,893			99,008			101,895
Intersegment eliminations	(64,687		)	(68,879		)	(72,985		)	(72,783		)
Operating revenues from continuing operations	887,241			1,173,096			455,505			411,143
Operating revenues from discontinued operations ⁽¹⁾	371,524			366,972			230,896			245,759

Gross profit from continuing operations	413,340			505,571			368,134			344,265
Gross profit from discontinued operations	10,078			15,300			13,672			10,189
Operating income from continuing operations	184,884			242,000			111,001			74,347
Operating income from discontinued operations	2,841			8,210			6,606			1,506
Income from continuing operations	96,086			133,142			52,487			23,908
Income (loss) from discontinued operations	1,509			4,542			3,794			(393		)
Net income	97,595			137,684			56,281			23,515
Basic earnings per share
Income per share from continuing operations	$	0.94		$	1.31		$	0.51		$	0.23
Income per share from discontinued operations	0.02			0.04			0.04			—
Net income per share — basic	$	0.96		$	1.35		$	0.55		$	0.23
Diluted earnings per share
Income per share from continuing operations	$	0.94		$	1.31		$	0.51		$	0.23
Income per share from discontinued operations	0.02			0.04			0.04			—
Net income per share — diluted	$	0.96		$	1.35		$	0.55		$	0.23


⁽¹⁾	Operating revenues from discontinued operations are shown net of intersegment eliminations.