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Quarterly Financial Data (Unaudited)
 12 Months Ended
Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Data (Unaudited)
QUARTERLY FINANCIAL DATA (UNAUDITED)
The following tables set forth selected unaudited quarterly financial information for the years ended December 31, 2015 and 2014:
 (In thousands, except per share amounts)
Year Ended December 31, 2015
Quarter Ended
 
March 31, 2015
 
June 30, 2015
 
Sept. 30, 2015
 
Dec. 31, 2015
Revenues
$
397,155

 
$
437,485

 
$
419,977

 
$
502,678

Gross profit
$
83,397

 
$
81,884

 
$
77,922

 
$
64,954

Operating income (loss) (1)
$
17,343

 
$
4,859

 
$
9,632

 
$
(9,973
)
Equity in income (loss) of investees
$
(2,071
)
 
$
967

 
$
1,047

 
$
(185
)
Net income (loss) attributable to Babcock & Wilcox Enterprises, Inc.
$
12,689

 
$
5,487

 
$
6,169

 
$
(5,204
)
Earnings per common share
 
 
 
 
 
 
 
Basic
 
 
 
 
 
 
 
Continuing
$
0.21

 
$
0.08

 
$
0.11

 
$
(0.10
)
Discontinued
$
0.03

 
$
0.02

 
$
—

 
$
—

Diluted
 
 
 
 
 
 
 
Continuing
$
0.21

 
$
0.08

 
$
0.11

 
$
(0.10
)
Discontinued
$
0.03

 
$
0.02

 
$
—

 
$
—

 
(1) 
Includes equity in income of investees.

 (In thousands, except per share amounts)
Year Ended December 31, 2014
Quarter Ended
 
March 31, 2014
 
June 30, 2014
 
Sept. 30, 2014
 
Dec. 31, 2014
Revenues
$
312,078

 
$
327,379

 
$
402,016

 
$
444,556

Gross profit
$
56,851

 
$
69,028

 
$
88,370

 
$
4,784

Operating income (loss) (1)
$
4,515

 
$
3,170

 
$
25,542

 
$
(71,202
)
Equity in income (loss) of investees
$
2,366

 
$
433

 
$
2,859

 
$
3,023

Net income (loss) attributable to Babcock & Wilcox Enterprises, Inc.
$
11,089

 
$
4,936

 
$
5,609

 
$
(48,162
)
Earnings per common share
 
 
 
 
 
 
 
Basic
 
 
 
 
 
 
 
Continuing
$
0.13

 
$
0.03

 
$
0.24

 
$
(0.63
)
Discontinued
$
0.07

 
$
0.06

 
$
(0.14
)
 
$
(0.27
)
Diluted
 
 
 
 
 
 
 
Continuing
$
0.13

 
$
0.03

 
$
0.24

 
$
(0.63
)
Discontinued
$
0.07

 
$
0.06

 
$
(0.14
)
 
$
(0.27
)
 
(1) 
Includes equity in income of investees.

We recognize actuarial gains and losses for our pension and postretirement benefit plans into earnings in the fourth quarter of each year as a component of net periodic benefit cost. The effect of these adjustments on pre-tax income in the quarters ended December 31, 2015 and 2014 were $40.2 million and $99.3 million, respectively. Additionally, in the quarter ended September 30, 2014, we recognized a pre-tax loss of $2.0 million because of the interim remeasurement requirement resulting from settlements of certain Canadian pension obligations.