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Quarterly Financial Data (Unaudited) (Tables)
 12 Months Ended
Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]  
Schedule Of Quarterly Financial Data
The Company’s unaudited quarterly financial data for 2019 and 2018 is summarized below. 
 
 
Quarter ended
In thousands, except per share data
 
March 31    
 
June 30    
 
September 30    
 
December 31    
2019
 
 
 
 
 
 
 
 
Total revenues (1)
 
$
1,124,234

 
$
1,208,382

 
$
1,104,197

 
$
1,195,134

Gain (loss) on natural gas derivatives, net (1)
 
$
(1,124
)
 
$
53,448

 
$
1,195

 
$
(4,436
)
Property impairments (2)
 
$
25,316

 
$
21,339

 
$
20,199

 
$
19,348

Gain (loss) on sale of assets, net (3)
 
$
252

 
$
(364
)
 
$
(535
)
 
$
1,182

Income from operations
 
$
304,965

 
$
379,847

 
$
278,724

 
$
293,876

Loss on extinguishment of debt (4)
 
$
—

 
$
—

 
$
(4,584
)
 
$
—

Net income (5)
 
$
186,493

 
$
236,450

 
$
157,422

 
$
194,108

Net income attributable to Continental Resources (5)
 
$
186,976

 
$
236,557

 
$
158,162

 
$
193,946

Net income per share attributable to Continental Resources: (5)
 
 
 
 
 
 
 
 
Basic
 
$
0.50

 
$
0.63

 
$
0.43

 
$
0.53

Diluted
 
$
0.50

 
$
0.63

 
$
0.43

 
$
0.53

2018
 
 
 
 
 
 
 
 
Total revenues (1)
 
$
1,141,028

 
$
1,137,113

 
$
1,282,151

 
$
1,149,294

Gain (loss) on natural gas derivatives, net (1)
 
$
10,174

 
$
(12,685
)
 
$
(2,025
)
 
$
(19,394
)
Property impairments (2)
 
$
33,784

 
$
29,162

 
$
23,770

 
$
38,494

Gain on sale of assets, net (3)
 
$
41

 
$
6,710

 
$
1,510

 
$
8,410

Income from operations
 
$
380,722

 
$
391,276

 
$
491,308

 
$
330,414

Loss on extinguishment of debt (4)
 
$
—

 
$
—

 
$
(7,133
)
 
$
—

Net income
 
$
233,946

 
$
242,464

 
$
314,169

 
$
199,121

Net income attributable to Continental Resources
 
$
233,946

 
$
242,464

 
$
314,169

 
$
197,738

Net income per share attributable to Continental Resources:
 
 
 
 
 
 
 
 
Basic
 
$
0.63

 
$
0.65

 
$
0.84

 
$
0.53

Diluted
 
$
0.63

 
$
0.65

 
$
0.84

 
$
0.53

(1)
Gains and losses on natural gas derivative instruments are reflected in “Total revenues” on both the consolidated statements of comprehensive income and this table of unaudited quarterly financial data. Commodity price fluctuations each quarter can result in significant swings in mark-to-market gains and losses, which affects comparability between periods.
(2)
Property impairments have been shown separately to illustrate the impact on quarterly results attributable to write downs of the Company’s assets. Commodity price fluctuations each quarter can result in significant changes in estimated future cash flows and resulting impairments, which affects comparability between periods.
(3)
Gains and losses on asset sales have been shown separately to illustrate the impact on quarterly results attributable to asset dispositions, which differ in significance from period to period and affect comparability. See Note 16. Property Dispositions for a discussion of notable dispositions.
(4)
See Note 7. Long-Term Debt for discussion of the losses recognized by the Company upon the partial redemptions of its 2022 Notes in the 2019 third quarter and 2018 third quarter.
(5)
In the fourth quarter of 2019, the Company sold its Canadian subsidiary and associated properties and a $16.9 million ($0.05 per basic and diluted share) decrease in income tax expense and corresponding increase in net income was recognized as discussed in Note 9. Income Taxes.