QUARTERLY FINANCIAL DATA (UNAUDITED) (Tables)

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019


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