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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenues      
Revenues $ 10,164,367 $ 12,593,196 $ 12,173,907
Cost of sales and fuel (exclusive of items shown separately below) 6,788,040 9,422,708 9,538,045
Operations and maintenance 863,708 803,146 724,314
Depreciation and amortization 476,535 428,557 406,335
Impairment of long-lived assets (Note D) 0 0 15,970
General taxes 119,156 103,922 98,396
(Gain) loss on sale of assets 2,575 (601) (924)
Operating income 1,914,353 1,835,464 1,391,771
Equity in net earnings from investments (Note M) 154,541 158,383 159,278
Impairment of equity investments (Note M) 0 0 (4,270)
Allowance for equity funds used during construction 64,815 7,962 107
Other income 27,058 674 15,385
Other expense (18,003) (14,928) (35,812)
Interest expense (net of capitalized interest of $107,275, $28,062 and $5,510, respectively) (491,773) (469,620) (485,658)
Income before income taxes 1,650,991 1,517,935 1,040,801
Income taxes (Note L) (372,414) (362,903) (447,282)
Net income 1,278,577 1,155,032 593,519
Less: Net income attributable to noncontrolling interests 0 3,329 205,678
Net income attributable to ONEOK 1,278,577 1,151,703 387,841
Less: Preferred stock dividends 1,100 1,100 767
Net income available to common shareholders $ 1,277,477 $ 1,150,603 $ 387,074
Basic earnings per common share (Note I) $ 3.09 $ 2.80 $ 1.30
Diluted earnings per common share (Note I) $ 3.07 $ 2.78 $ 1.29
Average shares (thousands)      
Basic 413,560 411,485 297,477
Diluted 415,444 414,195 299,780
Commodity Sales      
Revenues      
Revenues $ 8,916,047 $ 11,395,642 $ 9,862,652
Services      
Revenues      
Revenues $ 1,248,320 $ 1,197,554 $ 2,311,255