XML 37 R2.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Revenues      
Commodity sales $ 11,395,642 $ 9,862,652 $ 6,858,456
Services 1,197,554 2,311,255 2,062,478
Total revenues 12,593,196 12,173,907 8,920,934
Cost of sales and fuel (exclusive of items shown separately below) 9,422,708 9,538,045 6,496,124
Operations and maintenance 803,146 724,314 658,233
Depreciation and amortization 428,557 406,335 391,585
Impairment of long-lived assets (Note D) 0 15,970 0
General taxes 103,922 98,396 88,849
Gain on sale of assets (601) (924) (9,635)
Operating income 1,835,464 1,391,771 1,295,778
Equity in net earnings from investments (Note M) 158,383 159,278 139,690
Impairment of equity investments (Note M) 0 (4,270) 0
Allowance for equity funds used during construction 7,962 107 209
Other income 674 15,385 6,091
Other expense (14,928) (35,812) (14,161)
Interest expense (net of capitalized interest of $28,062, $5,510 and $10,591, respectively) (469,620) (485,658) (469,651)
Income before income taxes 1,517,935 1,040,801 957,956
Income taxes (Note L) (362,903) (447,282) (212,406)
Income from continuing operations 1,155,032 593,519 745,550
Income (loss) from discontinued operations, net of tax 0 0 (2,051)
Net income 1,155,032 593,519 743,499
Less: Net income attributable to noncontrolling interests 3,329 205,678 391,460
Net income attributable to ONEOK 1,151,703 387,841 352,039
Less: Preferred stock dividends 1,100 767 0
Net income available to common shareholders 1,150,603 387,074 352,039
Amounts available to common shareholders:      
Income from continuing operations 1,150,603 387,074 354,090
Income (loss) from discontinued operations 0 0 (2,051)
Net income available to common shareholders $ 1,150,603 $ 387,074 $ 352,039
Basic earnings per common share:      
Income from continuing operations (Note I) $ 2.80 $ 1.30 $ 1.68
Income (loss) from discontinued operations 0.00 0.00 (0.01)
Net income 2.80 1.30 1.67
Diluted earnings per common share:      
Income from continuing operations (Note I) 2.78 1.29 1.67
Income (loss) from discontinued operations 0.00 0.00 (0.01)
Net income $ 2.78 $ 1.29 $ 1.66
Average shares (thousands)      
Basic 411,485 297,477 211,128
Diluted 414,195 299,780 212,383