Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2011

Selected Quarterly Financial Data

Quarterly Financial Information

Selected Quarterly Financial Data (Unaudited)

The following table summarizes the Company’s unaudited results of operations on a quarterly basis. The quarterly earnings per share amounts for a year will not add to the earnings per share for that year due to the weighting of shares used in calculating per share data.

	2011 Quarters								2010 Quarters
	4th		3rd		2nd		1st		4th		3rd		2nd		1st
					(In thousands except for share data)
Operating revenues (1)	$	191,663	$	307,633	$	242,605	$	176,112	$	181,344	$	280,342	$	211,397	$	204,168
Operating income	15,994		102,215		58,121		14,473		13,784		84,098		40,477		30,603
Income before extraordinary gain	5,453		58,321		32,990		6,775		7,466		49,896		21,507		11,449
Extraordinary gain related to Texas regulatory assets, net of tax	—		—		—		—		—		10,286		—		—
Net income	5,453		58,321		32,990		6,775		7,466		60,182		21,507		11,449
Basic earnings per share:
Income before extraordinary gain	0.14		1.41		0.78		0.16		0.18		1.16		0.49		0.26
Extraordinary gain related to Texas regulatory assets, net of tax	—		—		—		—		—		0.24		—		—
Net income	0.14		1.41		0.78		0.16		0.18		1.40		0.49		0.26
Diluted earnings per share:
Income before extraordinary gain	0.13		1.40		0.78		0.16		0.17		1.15		0.49		0.26
Extraordinary gain related to Texas regulatory assets, net of tax	—		—		—		—		—		0.24		—		—
Net income	0.13		1.40		0.78		0.16		0.17		1.39		0.49		0.26
Dividends declared per share of common stock	0.22		0.22		0.22		—		—		—		—		—

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(1) Operating revenues are seasonal in nature, with the peak sales periods generally occurring during the summer months. Comparisons among quarters of a year may not represent overall trends and changes in operations.