XML 126 R49.htm IDEA: XBRL DOCUMENT
v3.20.4

QUARTERLY FINANCIAL DATA (UNAUDITED) (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020 | Dec. 31, 2019
Quarterly Financial Data [Abstract] |  |
Quarterly Financial Data |
Year Ended December 31, 2020 |  | First Quarter (a) |  | Second Quarter (b) |  | Third Quarter (c) |  | Fourth Quarter (c)
|  | (Thousands of dollars, except per share amounts)
Total revenues |  | $ | 2,136,672 |  |  | $ | 1,660,729 |  |  | $ | 2,174,264 |  |  | $ | 2,570,577 |
Operating income (loss) |  | $ | (83,469) |  |  | $ | 355,730 |  |  | $ | 550,433 |  |  | $ | 538,663 |
Net income (loss) |  | $ | (141,857) |  |  | $ | 134,321 |  |  | $ | 312,316 |  |  | $ | 308,029 |
Net income (loss) available to common shareholders |  | $ | (142,132) |  |  | $ | 134,046 |  |  | $ | 312,041 |  |  | $ | 307,754 |
Earnings (loss) per share total |  |  |  |  |  |  |  |
Basic |  | $ | (0.34) |  |  | $ | 0.32 |  |  | $ | 0.70 |  |  | $ | 0.69 |
Diluted |  | $ | (0.34) |  |  | $ | 0.32 |  |  | $ | 0.70 |  |  | $ | 0.69 |
(a) - Due to historic events as a result of COVID-19 impacting supply, demand and commodity prices, we evaluated our goodwill, certain long-lived asset groups and equity investments for impairment and recorded $641.8 million in impairment charges. (b) - In the second quarter 2020, due to the commodity price environment and continued global and regional economic disruptions due primarily to COVID-19, many of our crude oil and natural gas producers curtailed production, which significantly reduced volumes on our system. (c) - In the third quarter 2020, many of our producers reversed curtailments, bringing volumes back to pre-COVID-19 levels as prices and demand improved from second quarter 2020 lows and remained stable. |
Year Ended December 31, 2019 |  | First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
|  | (Thousands of dollars except per share amounts)
Total revenues |  | $ | 2,779,958 |  |  | $ | 2,457,575 |  |  | $ | 2,263,228 |  |  | $ | 2,663,606 |
Operating income |  | $ | 468,742 |  |  | $ | 476,146 |  |  | $ | 482,151 |  |  | $ | 487,314 |
Net income |  | $ | 337,208 |  |  | $ | 311,963 |  |  | $ | 309,155 |  |  | $ | 320,251 |
Net income available to common shareholders |  | $ | 336,933 |  |  | $ | 311,688 |  |  | $ | 308,880 |  |  | $ | 319,976 |
EPS total |  |  |  |  |  |  |  |
Basic |  | $ | 0.82 |  |  | $ | 0.75 |  |  | $ | 0.75 |  |  | $ | 0.77 |
Diluted |  | $ | 0.81 |  |  | $ | 0.75 |  |  | $ | 0.74 |  |  | $ | 0.77 |

X
- References No definition available. + Details
Name: | us-gaap_QuarterlyFinancialDataAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=118952077&loc=d3e1280-108306 + Details
Name: | us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration