Selected Quarterly Financial Information (Tables)

12 Months Ended

Dec. 31, 2019

Selected Quarterly Financial Information [Abstract]

Schedule Of Quarterly Financial Information [Table Text Block]

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)
2018
Revenues	$	205,132	$	203,303	$	220,058		$	214,788
Gross income (loss) (1)	$	38,833	$	40,915	$	49,216		$	(108,068)
Net income (loss) attributable to Unit Corporation	$	7,865	$	5,788	$	18,899		$	(77,840)	(2)
Net income (loss) attributable to Unit Corporation per common share:
Basic	$	0.15	$	0.11	$	0.36		$	(1.49)
Diluted	$	0.15	$	0.11	$	0.36		$	(1.49)
2019
Revenues (3)	$	189,691	$	165,146	$	155,439		$	164,358
Gross income (loss) (1)	$	24,095	$	813	$	(242,308)		$	(393,983)
Net loss attributable to Unit Corporation	$	(3,504)	$	(8,509)	$	(206,886)	(4)	$	(334,980)	(5)
Net loss attributable to Unit Corporation per common share:
Basic	$	(0.07)	$	(0.16)	$	(3.91)		$	(6.33)
Diluted	$	(0.07)	$	(0.16)	$	(3.91)		$	(6.33)

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1.Gross income (loss) excludes general and administrative expense, interest expense, (gain) loss on disposition of assets, gain (loss) on derivatives, income taxes, and other income (loss).

2.In the fourth quarter of 2018, we recorded an impairment for contract drilling equipment that included a $147.9 million pre-tax write-down for 41 drilling rigs and other drilling equipment.

3.In 2019, revenues dropped significantly each quarter due to lower commodity prices, production, and drilling rig utilization.

4.During the third quarter of 2019, we recorded a non-cash ceiling test write-down of $169.3 million pre-tax ($127.9 million, net of tax). We also recognized goodwill impairment charges of $62.8 million, pre-tax ($59.8 million, net of tax).

5.During the fourth quarter of 2019, we recorded a non-cash ceiling test write-down of $390.1 million pre-tax ($294.5 million, net of tax).