Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Data (Unaudited)



Fiscal Quarters Year Ended December 31, 2019	First		Second		Third		Fourth
Revenues, net	$	621,825	$	647,094	$	681,048	$	698,881
Operating income	284,176		297,317		329,141		320,796
Net income	172,107		261,651		225,805		235,510
Basic earnings per share	$	2.00	$	3.03	$	2.61	$	2.72
Diluted earnings per share	1.93		2.90		2.49		2.60
Weighted average shares outstanding:
Basic shares	85,941		86,360		86,662		86,600
Diluted shares	89,244		90,131		90,522		90,427



Fiscal Quarters Year Ended December 31, 2018*	First		Second		Third		Fourth
Revenues, net	$	585,500	$	584,985	$	619,586	$	643,422
Operating income	260,087		264,783		281,090		284,738
Net income	174,937		176,852		157,694		302,000
Earnings per share:
Basic earnings per share	$	1.95	$	1.98	$	1.78	$	3.45
Diluted earnings per share	1.88		1.91		1.71		3.33
Weighted average shares outstanding:
Basic shares	89,765		89,169		88,456		87,636
Diluted shares	93,250		92,702		92,081		90,703

*2018 quarterly amounts reflect the impact of the Company's adoption of ASC 606 and related cost capitalization guidance, which was adopted by the Company on January 1, 2018 using the modified retrospective transition method.

The sum of the quarterly earnings per common share amounts for 2019 and 2018 may not equal the earnings per common share for the 2019 and 2018 due to rounding.

The fourth quarter of 2019 includes: a gain of $13.0 million related to the fair value adjustment of a minority investment, a write-off of property, plant and equipment costs of $1.8 million and restructuring related costs of $2.8 million.

The fourth quarter of 2018 includes: the $152.8 million gain as a result of the sale of the Chevron portfolio, a write-off of capitalized software costs of $8.8 million, a legal settlement of $5.5 million and restructuring costs of $1.1 million.