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QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) (Tables) | 12 Months Ended
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Dec. 31, 2012
QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) |
Schedule of unaudited quarterly financial information |
|  | 2012 |
|  | First |  | Second |  | Third |  | Fourth |
|  | Quarter |  | Quarter(1) |  | Quarter(1) |  | Quarter(1) |
|  | (in thousands, except share and per share data) |
Operating revenues |  | $ | 440,867 |  | $ | 510,543 |  | $ | 577,546 |  | $ | 537,042 |
Operating expenses and costs |  | 463,854 |  | 503,342 |  | 565,313 |  | 548,058 |
Operating income (loss) |  | (22,987 | ) | 7,201 |  | 12,233 |  | (11,016 | )
Other income (expense), net |  | 451 |  | (1,117 | ) | (457 | ) | (1,300 | )
Income tax provision (benefit)(2) |  | (4,374 | ) | (5,757 | ) | 5,258 |  | (4,387 | )
Net income (loss) attributable to Arkansas Best Corporation(3) |  | $ | (18,162 | ) | $ | 11,841 |  | $ | 6,518 |  | $ | (7,929 | )
Earnings (loss) per common share(4) |  |  |  |  |  |  |  |  |
Basic |  | $ | (0.71 | ) | $ | 0.44 |  | $ | 0.24 |  | $ | (0.31 | )
Diluted |  | $ | (0.71 | ) | $ | 0.44 |  | $ | 0.24 |  | $ | (0.31 | )
Average common shares outstanding |  |  |  |  |  |  |  |  |
Basic |  | 25,455,607 |  | 25,544,455 |  | 25,613,315 |  | 25,629,309 |
Diluted |  | 25,455,607 |  | 25,544,455 |  | 25,613,315 |  | 25,629,309 |
|  | 2011 |
|  | First |  | Second |  | Third |  | Fourth |
|  | Quarter |  | Quarter |  | Quarter |  | Quarter |
|  | (in thousands, except share and per share data) |
Operating revenues |  | $ | 434,931 |  | $ | 498,550 |  | $ | 510,887 |  | $ | 463,241 |
Operating expenses and costs |  | 456,923 |  | 489,552 |  | 489,769 |  | 461,606 |
Operating income (loss) |  | (21,992 | ) | 8,998 |  | 21,118 |  | 1,635 |
Other income (expense), net |  | 1,859 |  | (378 | ) | (2,045 | ) | 299 |
Income tax provision (benefit) |  | (7,346 | ) | 3,169 |  | 6,808 |  | 530 |
Net income (loss) |  | (12,787 | ) | 5,451 |  | 12,265 |  | 1,404 |
Less: noncontrolling interest in net income of subsidiary |  | 21 |  | 153 |  | — |  | — |
Net income (loss) attributable to Arkansas Best Corporation |  | $ | (12,808 | ) | $ | 5,298 |  | $ | 12,265 |  | $ | 1,404 |
Earnings (loss) per common share(4) |  |  |  |  |  |  |  |  |
Basic |  | $ | (0.51 | ) | $ | 0.20 |  | $ | 0.46 |  | $ | 0.05 |
Diluted |  | $ | (0.51 | ) | $ | 0.20 |  | $ | 0.46 |  | $ | 0.05 |
Average common shares outstanding |  |  |  |  |  |  |  |  |
Basic |  | 25,296,854 |  | 25,411,339 |  | 25,421,887 |  | 25,421,887 |
Diluted |  | 25,296,854 |  | 25,411,942 |  | 25,421,887 |  | 25,421,887 |
(1) Includes operations of the Premium Logistics and Expedited Freight Services segment since the June 15, 2012 acquisition of Panther. (2) The income tax benefit rates recorded in the first and second quarters of 2012 were significantly affected by changes in the assessment of deferred tax asset valuation allowances as more fully discussed at Note F. (3) The fourth quarter of 2012 included an adjustment of $2.7 million, after tax, which is immaterial to prior periods, to correct the reserves for workers’ compensation and third-party casualty claims. (4) The Company uses the two-class method for calculating earnings per share. See Note M.

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- Definition Tabular disclosure of the quarterly financial data in the annual financial statements. The disclosure includes financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income (loss) before extraordinary items and cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=20225539&loc=d3e1280-108306 + Details
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