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Selected Quarterly Financial Information
 12 Months Ended
Dec. 31, 2015
Selected Quarterly Financial Information [Abstract]  
Selected Quarterly Financial Information
SELECTED QUARTERLY FINANCIAL INFORMATION

Summarized unaudited quarterly financial information is as follows:
 
Three Months Ended
 
 
March 31
 
June 30
 
September 30
 
December 31
 
 
(In thousands except per share amounts)
 
2014
 
 
 
 
 
 
 
 
Revenues
$
387,988

 
$
405,431

 
$
400,974

 
$
378,551

 
Gross profit (loss) (1)
$
115,143

 
$
113,973

 
$
103,983

 
$
(89,796
)
 
Net income (loss)
$
56,945

 
$
54,360

 
$
67,522

 
$
(42,551
)
 
Net income (loss) per common share:
 
 
 
 
 
 
 
 
Basic
$
1.17

 
$
1.12

 
$
1.39

 
$
(0.88
)
 
Diluted (2)
$
1.17

 
$
1.11

 
$
1.37

 
$
(0.88
)
 
2015
 
 
 
 
 
 
 
 
Revenues
$
255,099

 
$
214,447

 
$
212,393

 
$
172,292

 
Gross loss (1)
$
(389,451
)
 
$
(419,666
)
 
$
(314,409
)
 
$
(492,636
)
 
Net loss
$
(248,354
)
 
$
(274,389
)
 
$
(205,281
)
 
$
(309,337
)
 
Net loss per common share:
 
 
 
 
 
 
 
 
Basic
$
(5.07
)
 
$
(5.58
)
 
$
(4.18
)
 
$
(6.29
)
 
Diluted
$
(5.07
)
 
$
(5.58
)
 
$
(4.18
)
 
$
(6.29
)
 
_________________________
(1)
Gross profit (loss) excludes general and administrative expense, interest expense, (gain) loss on disposition of assets, gain (loss) on non-designated hedges and hedge ineffectiveness, net, income taxes, and other income (loss).
(2)
Due to the effect of the loss in the fourth quarter, the diluted earnings per share for the year's four quarters does not equal annual earnings per share.