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QUARTERLY FINANCIAL DATA (Unaudited)
 12 Months Ended
Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]  
QUARTERLY FINANCIAL DATA (Unaudited) QUARTERLY FINANCIAL DATA (Unaudited)

The Company’s unaudited quarterly financial data for 2019 and 2018 is summarized below.
 
2019
(in millions)
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
Revenues
$
864

 
$
1,021

 
$
975

 
$
1,104

Income (loss) from operations
319

 
411

 
349

 
(384
)
Income tax expense (benefit)
(33
)
 
102

 
102

 
(124
)
Net income (loss)
43

 
356

 
388

 
(472
)
Net income attributable to non-controlling interest
33

 
7

 
20

 
15

Net income (loss) attributable to Diamondback Energy, Inc.
$
10

 
$
349

 
$
368

 
$
(487
)
Earnings per common share
 
 
 
 
 
 
 
Basic
$
0.06

 
$
2.12

 
$
2.27

 
$
(3.04
)
Diluted
$
0.06

 
$
2.11

 
$
2.26

 
$
(3.04
)
 
 
 
 
 
 
 
 
 
2018
(in millions)
First
Quarter
 
Second
Quarter
 
Third
Quarter
 
Fourth
Quarter
Revenues
$
479

 
$
527

 
$
537

 
$
633

Income from operations
267

 
281

 
268

 
195

Income tax expense (benefit)
47

 
(7
)
 
43

 
85

Net income
178

 
301

 
160

 
306

Net income attributable to non-controlling interest
15

 
82

 
3

 
(1
)
Net income attributable to Diamondback Energy, Inc.
$
163

 
$
219

 
$
157

 
$
307

Earnings per common share
 
 
 
 
 
 
 
Basic
$
1.65

 
$
2.22

 
$
1.59

 
$
2.50

Diluted
$
1.65

 
$
2.22

 
$
1.59

 
$
2.50