v3.6.0.2
Quarterly Consolidated Financial Data (unaudited)
 12 Months Ended
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Consolidated Financial Data (unaudited)
Quarterly Consolidated Financial Data (unaudited)
Our quarterly operating results have fluctuated in the past and may continue to do so in the future as a result of a number of factors, including, but not limited to, our restructuring activities (including asset sales and dispositions), the completion of development projects, the timing and amount of curtailment of operations under the terms of certain PPAs, the degree of risk management and marketing, hedging, optimization and trading activities, energy commodity market prices and variations in levels of production. Furthermore, the majority of the dollar value of capacity payments under certain of our PPAs are received during the months of May through October.
 
Quarter Ended
 
December 31
 
September 30
 
June 30
 
March 31
 
(in millions, except per share amounts)
2016
 
 
 
 
 
 
 
Operating revenues
$
1,582

 
$
2,355

 
$
1,164

 
$
1,615

Income from operations(1)
$
234

 
$
462

 
$
140

 
$
3

Net income (loss) attributable to Calpine
$
24

 
$
295

 
$
(29
)
 
$
(198
)
Net income (loss) per common share attributable to Calpine — Basic
$
0.07

 
$
0.83

 
$
(0.08
)
 
$
(0.56
)
Net income (loss) per common share attributable to Calpine — Diluted
$
0.07

 
$
0.83

 
$
(0.08
)
 
$
(0.56
)
 
 
 
 
 
 
 
 
2015
 
 
 
 
 
 
 
Operating revenues
$
1,436

 
$
1,948

 
$
1,442

 
$
1,646

Income from operations
$
22

 
$
466

 
$
201

 
$
166

Net income (loss) attributable to Calpine
$
(47
)
 
$
273

 
$
19

 
$
(10
)
Net income (loss) per common share attributable to Calpine — Basic
$
(0.13
)
 
$
0.77

 
$
0.05

 
$
(0.03
)
Net income (loss) per common share attributable to Calpine — Diluted
$
(0.13
)
 
$
0.76

 
$
0.05

 
$
(0.03
)

____________
(1)
We recorded a gain on sale of assets, net of $(157) million in connection with the sale of the Mankato Power Plant which is included in income from operations on our Consolidated Statement of Operations for the year ended December 31, 2016.