21. QUARTERLY FINANCIAL DATA (Unaudited)

The following table includes unaudited financial data for each of the quarters within the years ended December 31, 2018 and 2017 (in thousands, except per share amounts), which is derived from the company’s consolidated financial statements. In management’s opinion, the financial data reflects all of the adjustments necessary for a fair presentation of the quarters presented. The operating results for any quarter are not necessarily indicative of results for any future period.



	Three Months Ended
	December 31, 2018		September 30, 2018		June 30, 2018		March 31, 2018
Revenues	$	811,129	$	1,000,100	$	986,837	$	1,045,287
Costs and expenses (1)		703,888		999,451		975,072		1,049,212
Operating income (loss)		107,241		649		11,765		(3,925)
Other expense		(32,672)		(22,726)		(18,767)		(21,557)
Income tax benefit (expense)		(14,712)		14,658		10,753		6,027
Net income (loss) attributable to Green Plains		53,503		(12,469)		(994)		(24,117)
Basic earnings (loss) per share attributable to Green Plains		1.32		(0.31)		(0.02)		(0.60)
Diluted earnings (loss) per share attributable to Green Plains		1.13		(0.31)		(0.02)		(0.60)


	Three Months Ended
	December 31, 2017		September 30, 2017		June 30, 2017		March 31, 2017
Revenues	$	920,984	$	901,235	$	886,263	$	887,684
Costs and expenses		913,560		880,519		890,049		870,292
Operating income (loss)		7,424		20,716		(3,786)		17,392
Other expense		(18,954)		(30,062)		(17,759)		(18,122)
Income tax benefit (2)		63,877		48,775		9,749		2,381
Net income (loss) attributable to Green Plains		46,630		34,394		(16,366)		(3,597)
Basic earnings (loss) per share attributable to Green Plains		1.16		0.83		(0.41)		(0.09)
Diluted earnings (loss) per share attributable to Green Plains		0.99		0.74		(0.41)		(0.09)

(1)

The fourth quarter of 2018 includes the net gain on the sale of assets of $150.4 million related to the sale of three ethanol plants and Fleischmann’s Vinegar.

(2)

The third and fourth quarters of 2017 reflect adjustments for R&D Credits and the reduced tax rate due to the Tax Cuts and Jobs Act.