Quarterly Financial Data

12 Months Ended

Dec. 31, 2013

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Data

Note 14 – Quarterly Financial Data (Unaudited)

	Quarter Ended
	March 31		June 30			September 30			December 31
(Thousands of dollars, except per share amounts)
2013
Operating revenues	$	613,505	$	411,574		$	387,346		$	538,357
Operating income		138,394		28,908			6,141			100,772
Net income (loss)		80,674		10,067			(3,057	)		57,189
Net income (loss) attributable to Southwest Gas Corporation		80,773		10,108			(2,864	)		57,303
Basic earnings (loss) per common share*		1.75		0.22			(0.06	)		1.24
Diluted earnings (loss) per common share*		1.73		0.22			(0.06	)		1.22
2012
Operating revenues	$	657,645	$	409,768		$	371,799		$	488,566
Operating income		134,623		15,380			6,310			115,211
Net income (loss)		78,835		(3,888	)		(4,414	)		62,106
Net income (loss) attributable to Southwest Gas Corporation		78,919		(3,676	)		(4,305	)		62,393
Basic earnings (loss) per common share*		1.71		(0.08	)		(0.09	)		1.35
Diluted earnings (loss) per common share*		1.70		(0.08	)		(0.09	)		1.34
2011
Operating revenues	$	628,440	$	388,505		$	352,592		$	517,651
Operating income		126,335		20,568			1,253			101,924
Net income (loss)		68,354		4,013			(15,747	)		55,143
Net income (loss) attributable to Southwest Gas Corporation		68,549		4,055			(15,641	)		55,324
Basic earnings (loss) per common share*		1.50		0.09			(0.34	)		1.20
Diluted earnings (loss) per common share*		1.48		0.09			(0.34	)		1.19

* The sum of quarterly earnings (loss) per average common share may not equal the annual earnings (loss) per share due to the ongoing change in the weighted-average number of common shares outstanding.

The demand for natural gas is seasonal, and it is the opinion of management that comparisons of earnings for interim periods do not reliably reflect overall trends and changes in the operations of the Company. Also, the timing of general rate relief can have a significant impact on earnings for interim periods. See Management’s Discussion and Analysis for additional discussion of operating results.