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Summary Quarterly Financial Data (Tables)
 12 Months Ended
Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]  
Summary of Quarterly Financial Data

Unaudited summary quarterly financial data for the years ended December 31, 2015 and 2014 was as follows:

 

 

 

2015

 

 

 

First

 

 

Second

 

 

Third

 

 

Fourth

 

 

 

Quarter

 

 

Quarter (a)

 

 

Quarter

 

 

Quarter(b)

 

 

 

(Unaudited)

 

Total revenues

 

$

214,592

 

 

$

391,616

 

 

$

496,939

 

 

$

267,857

 

Operating (loss) income

 

$

(50,199

)

 

$

45,750

 

 

$

170,860

 

 

$

(6,975

)

Net (loss) income

 

$

(43,598

)

 

$

5,809

 

 

$

97,950

 

 

$

(11,028

)

(Loss) earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income per share, basic

 

$

(0.51

)

 

$

0.07

 

 

$

1.14

 

 

$

(0.13

)

Net (loss) income per share, diluted

 

$

(0.51

)

 

$

0.07

 

 

$

1.14

 

 

$

(0.13

)

 

 

 

2014

 

 

 

First

 

 

Second

 

 

Third

 

 

Fourth

 

 

 

Quarter

 

 

Quarter

 

 

Quarter

 

 

Quarter (c)

 

 

 

(Unaudited)

 

Total revenues

 

$

212,290

 

 

$

405,151

 

 

$

495,834

 

 

$

264,537

 

Operating (loss) income

 

$

(59,408

)

 

$

80,587

 

 

$

161,915

 

 

$

(22,497

)

Net (loss) income

 

$

(49,217

)

 

$

37,406

 

 

$

87,176

 

 

$

(25,446

)

(Loss) earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income per share, basic

 

$

(0.56

)

 

$

0.43

 

 

$

1.01

 

 

$

(0.29

)

Net (loss) income per share, diluted

 

$

(0.56

)

 

$

0.43

 

 

$

1.00

 

 

$

(0.29

)

 

(a)

During the second quarter of 2015, the Company recorded $20,348 in loss on early extinguishment of debt and write-off of discounts and debt issuance costs related to the early redemption of $260,000 of its Senior Notes.  See Note 11–Long-Term Debt for further details.

(b)

During the fourth quarter of 2015, the Company recorded $2,001 in restructuring and other related costs primarily related to severance costs for certain positions which were eliminated as part of a cost savings initiative. See Note 4–Restructuring Program and Separation Costs for further details.

(c)

During the fourth quarter of 2014, the Company recorded $10,371 in restructuring and other related costs incurred in connection with the restructuring program which the Company implemented in December 2014.  Also during the fourth quarter of 2014, the Company recorded $2,574 in separation costs representing costs incurred pursuant to the previously announced separation of the Company’s Former Chief Executive Officer and President on January 15, 2015.  See Note 4–Restructuring Program and Separation Costs for further details.