SELECTED QUARTERLY FINANCIAL DATA (unaudited)

12 Months Ended

Dec. 31, 2012

Quarterly Financial Information Disclosure [Abstract]

SELECTED QUARTERLY FINANCIAL DATA

SELECTED QUARTERLY FINANCIAL DATA (unaudited):

	First Quarter			Second Quarter			Third Quarter			Fourth Quarter
	(In Thousands, Except Per Share Amounts)
2012
Oil, natural gas, and natural gas liquids sales	$	158,901		$	135,694		$	156,014		$	154,914
Costs and expenses associated directly with products sold(1)	$	110,110		$	110,996		$	114,304		$	104,048
Earnings (loss) before income taxes(2)	$	(31,758	)	$	(344,099	)	$	(451,272	)	$	(288,365	)
Net earnings (loss)(2)	$	(32,673	)	$	(511,173	)	$	(458,552	)	$	(286,533	)
Basic earnings (loss) per share	$	(.29	)	$	(4.44	)	$	(3.97	)	$	(2.48	)
Diluted earnings (loss) per share	$	(.29	)	$	(4.44	)	$	(3.97	)	$	(2.48	)
2011
Oil, natural gas, and natural gas liquids sales
As reported(3)	$	202,571		$	237,848		$	174,012		$	176,616
Less: discontinued operations	36,261			51,255			—			—
Oil, natural gas, and natural gas liquids sales from continuing operations	$	166,310		$	186,593		$	174,012		$	176,616
Costs and expenses associated directly with products sold(1):
As reported(3)	$	118,465		$	126,479		$	89,343		$	105,377
Less: discontinued operations	31,325			34,873			—			—
Costs and expenses associated directly with products sold from continuing operations	$	87,140		$	91,606		$	89,343		$	105,377
Earnings (loss) before income taxes(2):
As reported(3)	$	(5,047	)	$	90,682		$	94,166		$	31,662
Less: discontinued operations	9,247			14,821			—			—
Earnings (loss) from continuing operations before income taxes	$	(14,294	)	$	75,861		$	94,166		$	31,662
Net earnings (loss)(2)	$	(3,330	)	$	38,974		$	87,718		$	19,467
Net earnings (loss) attributable to Forest Oil Corporation common shareholders(2)(4)	$	(3,330	)	$	38,910		$	82,795		$	19,467
Basic earnings (loss) per share attributable to Forest Oil Corporation common shareholders	$	(.03	)	$	.34		$	.72		$	.17
Diluted earnings (loss) per share attributable to Forest Oil Corporation common shareholders	$	(.03	)	$	.34		$	.72		$	.17

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(1) Costs and expenses associated directly with products sold is comprised of lease operating expenses, production and property taxes, transportation and processing costs, depletion expense, and accretion of asset retirement obligations.

(2) Earnings (loss) before income taxes, net earnings (loss), and net earnings (loss) attributable to Forest Oil Corporation common shareholders have been impacted by non-cash ceiling test write-downs in every quarter of 2012 as discussed in Note 1 and are also subject to large fluctuations due to Forest’s election not to use cash flow hedge accounting for derivative instruments as discussed in Note 9.

(3) Amounts shown for the first and second quarters of 2011 are those amounts that were previously reported in Forest’s Quarterly Reports on Form 10-Q prior to the September 30, 2011 spin-off of Lone Pine, whose results are now reported as discontinued operations.

(4) Upon completion of Lone Pine’s initial public offering on June 1, 2011, Forest maintained a controlling interest in Lone Pine until it was spun-off on September 30, 2011. As such, during the second and third quarters of 2011, Forest had net earnings attributable to the noncontrolling interest.