Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2019

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.



	2019 Quarters								2018 Quarters
	4th		3rd		2nd		1st		4th			3rd		2nd		1st
					(In thousands except for share data)
Operating revenues (1)	$	190,103	$	294,453	$	203,075	$	174,363	$	190,823		$	300,271	$	236,796	$	175,713
Operating income	13,419		114,027		46,338		4,309		15,113			99,933		53,139		4,044
Net income (loss)	12,942		77,880		26,126		6,089		(15,285		)	73,271		33,295		(6,966		)
Basic earnings per share:
Net income (loss)	0.32		1.91		0.64		0.15		(0.38		)	1.80		0.82		(0.17		)
Diluted earnings per share:
Net income (loss)	0.32		1.91		0.64		0.15		(0.38		)	1.79		0.82		(0.17		)
Dividends declared per share of common stock	0.385		0.385		0.385		0.360		0.360			0.360		0.360		0.335

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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.