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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenues        
Commodity sales $ 1,840,523 $ 1,484,350 $ 4,757,306 $ 4,642,320
Services 517,384 414,596 1,509,167 1,189,984
Total revenues 2,357,907 1,898,946 6,266,473 5,832,304
Cost of sales and fuel (exclusive of items shown separately below) 1,751,593 1,360,809 4,474,654 4,307,766
Operations and maintenance 165,664 146,979 488,476 442,179
Depreciation and amortization 98,550 88,299 292,275 261,241
General taxes 18,487 17,198 64,529 66,366
(Gain) loss on sale of assets (5,744) 726 (9,537) 610
Operating income 329,357 284,935 956,076 754,142
Equity in net earnings from investments (Note J) 35,155 32,244 100,441 93,205
Allowance for equity funds used during construction 0 177 208 1,718
Other income 4,242 71 9,351 249
Other expense (710) (7,508) (2,288) (7,754)
Interest expense (net of capitalized interest of $3,806, $8,851, $9,265 and $26,008, respectively) (118,240) (106,923) (355,463) (306,057)
Income before income taxes 249,804 202,996 708,325 535,503
Income taxes (55,012) (38,298) (157,536) (123,948)
Income from continuing operations 194,792 164,698 550,789 411,555
Income (loss) from discontinued operations, net of tax (Note M) (576) (3,860) (1,755) (4,144)
Net income 194,216 160,838 549,034 407,411
Less: Net income attributable to noncontrolling interests 102,072 78,681 287,500 187,949
Net income attributable to ONEOK 92,144 82,157 261,534 219,462
Amounts attributable to ONEOK:        
Income from continuing operations 92,720 86,017 263,289 223,606
Income (loss) from discontinued operations (576) (3,860) (1,755) (4,144)
Net income attributable to ONEOK $ 92,144 $ 82,157 $ 261,534 $ 219,462
Basic earnings per share:        
Income from continuing operations (Note H) $ 0.44 $ 0.41 $ 1.25 $ 1.06
Income (loss) from discontinued operations 0.00 (0.02) (0.01) (0.02)
Net income 0.44 0.39 1.24 1.04
Diluted earnings per share:        
Income from continuing operations (Note H) 0.44 0.41 1.24 1.06
Income (loss) from discontinued operations (0.01) (0.02) (0.01) (0.02)
Net income $ 0.43 $ 0.39 $ 1.23 $ 1.04
Average shares (thousands)        
Basic 211,309 210,296 211,038 210,138
Diluted 212,870 210,524 212,123 210,509
Dividends declared per share of common stock $ 0.615 $ 0.605 $ 1.845 $ 1.815