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QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) (Tables)
 12 Months Ended
Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]  
Schedule of unaudited quarterly financial information
The tables below present unaudited quarterly financial information for 2013 and 2012:
 
 
2013

First
Quarter

Second
Quarter

Third
Quarter

Fourth
Quarter
 
(in thousands, except share and per share data)
Operating revenues
$
520,687

 
$
576,899

 
$
623,414

 
$
578,549

Operating expenses
544,037

 
568,482

 
602,912

 
565,047

Operating income (loss)
(23,350
)
 
8,417

 
20,502

 
13,502

Other income (expense), net
47

 
(552
)
 
502

 
393

Income tax provision (benefit)
(9,908
)
 
2,987

 
7,022

 
3,549


 
 
 
 
 
 
 
Net income (loss) attributable to Arkansas Best Corporation
$
(13,395
)
 
$
4,878

 
$
13,982

 
$
10,346


 
 
 
 
 
 
 
Earnings (loss) per common share(4)
 

 
 

 
 

 
 

Basic
$
(0.52
)
 
$
0.18

 
$
0.52

 
$
0.38

Diluted
$
(0.52
)
 
$
0.18

 
$
0.52

 
$
0.38


 
 
 
 
 
 
 
Average common shares outstanding
 

 
 

 
 

 
 

Basic
25,638,333

 
25,694,327

 
25,736,810

 
25,785,485

Diluted
25,638,333

 
25,694,327

 
25,736,810

 
25,793,366

 
 
2012

First
Quarter

Second
Quarter(1)

Third
Quarter(1)

Fourth
Quarter(1)
 
(in thousands, except share and per share data)
Operating revenues
$
440,867

 
$
510,543

 
$
577,546

 
$
537,042

Operating expenses
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


(1)
Includes operations of the Premium Logistics & 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).