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Summarized Quarterly Financial Data (Unaudited)
12 Months Ended
Dec. 31, 2011
Quarterly Financial Data [Abstract]  
Summarized Quarterly Financial Information
SUMMARIZED QUARTERLY FINANCIAL DATA (Unaudited)
 

The Company's business is seasonal in character. The following data summarizes quarterly operating results.

 
Year ended December 31, 2011
(in thousands, except per share amounts)
First
Second
Third
Fourth*
Operating revenues
$
486,364

$
330,399

$
378,568

$
288,148

Operating income
$
159,881

$
106,335

$
150,412

$
31,641

Net income
$
94,268

$
63,325

$
87,599

$
14,432

Diluted earnings per average common share
$
1.30

$
0.87

$
1.21

$
0.20

Basic earnings per average common share
$
1.31

$
0.88

$
1.22

$
0.20

*The three months ended December 31, 2011 includes an after-tax non-cash mark-to-market loss on derivatives of $56.6 million, or $0.78 per diluted share.

 
Year ended December 31, 2010
(in thousands, except per share amounts)
First
Second
Third
Fourth
Operating revenues
$
574,914

$
333,725

$
295,804

$
374,091

Operating income
$
192,198

$
98,293

$
67,320

$
135,566

Net income
$
116,710

$
55,543

$
38,304

$
80,250

Diluted earnings per average common share
$
1.62

$
0.77

$
0.53

$
1.11

Basic earnings per average common share
$
1.63

$
0.77

$
0.53

$
1.12







Alagasco's business is seasonal in character and influenced by weather conditions. The following data summarizes Alagasco's quarterly operating results.

 
Year ended December 31, 2011
(in thousands)
First
Second
Third
Fourth
Operating revenues
$
269,572

$
86,309

$
59,616

$
119,456

Operating income (loss)
$
75,059

$
1,163

$
(10,681
)
$
20,675

Net income (loss)
$
44,175

$
262

$
(9,093
)
$
11,258


 
Year ended December 31, 2010
(in thousands)
First
Second
Third
Fourth
Operating revenues
$
337,300

$
99,139

$
61,693

$
121,640

Operating income (loss)
$
75,255

$
3,138

$
(9,015
)
$
19,005

Net income (loss)
$
44,246

$
(340
)
$
(7,120
)
$
10,097