Summarized quarterly financial data for the periods indicated is set forth below (in thousands, except per unit amounts). Quarterly results were influenced by seasonal and other factors inherent in our business. The results of operations of the Natural Gas Storage disposal group have been reported as discontinued operations for all periods presented.



	First Quarter			Second Quarter			Third Quarter			Fourth Quarter			Total
2015
Revenue (1)	$	1,088,100		$	796,783		$	728,384		$	840,167		$	3,453,434
Operating income (1)	151,802			131,019			143,560			177,735			604,116
Income from continuing operations (1)	112,021			91,326			99,947			135,097			438,391
Loss from discontinued operations (2)	(857		)	—			—			—			(857		)
Net income (1)	111,164			91,326			99,947			135,097			437,534
Net income attributable to Buckeye Partners, L.P. (1)	111,611			91,580			100,040			133,992			437,223

Earnings (loss) per unit - basic
Continuing operations	$	0.89		$	0.72		$	0.78		$	1.04		$	3.42
Discontinued operations	(0.01		)	—			—			—			(0.01		)
Total	$	0.88		$	0.72		$	0.78		$	1.04		$	3.41

Earnings (loss) per unit - diluted
Continuing operations	$	0.88		$	0.71		$	0.78		$	1.03		$	3.41
Discontinued operations	(0.01		)	—			—			—			(0.01		)
Total	$	0.87		$	0.71		$	0.78		$	1.03		$	3.40

2014
Revenue (1)	$	1,991,829		$	1,808,951		$	1,573,473		$	1,245,994		$	6,620,247
Operating income (1)	141,273			102,166			148,941			102,967			495,347
Income from continuing operations (1)	101,539			61,939			107,008			64,012			334,498
Loss from discontinued operations (2)	(10,042		)	(38,186		)	(3,280		)	(8,133		)	(59,641		)
Net income (1) (2)	91,497			23,753			103,728			55,879			274,857
Net income attributable to Buckeye Partners, L.P. (1) (2)	90,468			23,020			102,943			56,523			272,954

Earnings (loss) per unit - basic
Continuing operations	$	0.87		$	0.53		$	0.90		$	0.51		$	2.79
Discontinued operations	(0.09		)	(0.33		)	(0.03		)	(0.06		)	(0.50		)
Total	$	0.78		$	0.20		$	0.87		$	0.45		$	2.29

Earnings (loss) per unit - diluted
Continuing operations	$	0.87		$	0.53		$	0.89		$	0.50		$	2.78
Discontinued operations	(0.09		)	(0.33		)	(0.03		)	(0.06		)	(0.50		)
Total	$	0.78		$	0.20		$	0.86		$	0.44		$	2.28

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(1)	During the fourth quarter of 2014, second quarter of 2015 and third quarter of 2015, we recorded reductions in revenue of $40.0 million, $13.5 million and $1.7 million, respectively, related to settlement of a FERC proceeding (see Note 6).

(2)

During the second quarter of 2014, we recorded a $26.3 million asset impairment charge related to the Natural Gas Storage disposal group. During the third quarter of 2014, we reduced the asset impairment charge by $5.4 million due to changes in the carrying value of the net assets of the Natural Gas Storage disposal group. In December 2014, we recorded an additional $2.5 million asset impairment charge due to the completion of the sale. We reported the final working capital adjustments as discontinued operations in the first quarter of 2015 (see Note 4).