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QUARTERLY FINANCIAL DATA (Unaudited) (Tables)
 12 Months Ended
Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]  
Schedule of quarterly financial data

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