Part IV
Item 15.
Exhibits and Financial Statement Schedules
XTO ENERGY INC. Notes to Consolidated Financial Statements
14. Quarterly Financial Data (Unaudited)
The following are summarized quarterly financial data for the years ended December 31, 2007 and 2006:
Quarter |
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(in millions, except per share data) |
1st |
2nd |
3rd |
4th |
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2007 |
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| Revenues | $ | 1,169 | $ | 1,329 | $ | 1,421 | $ | 1,594 |
| Gross profit (a) | $ | 703 | $ | 777 | $ | 755 | $ | 888 |
| Net income | $ | 383 | $ | 432 | $ | 412 | $ | 464 |
| Earnings per common share (b) | ||||||||
| Basic | $ | 0.83 | $ | 0.93 | $ | 0.86 | $ | 0.96 |
| Diluted | $ | 0.82 | $ | 0.91 | $ | 0.84 | $ | 0.95 |
| Average shares outstanding | 458.4 | 464.9 | 481.1 | 482.8 | ||||
2006 |
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| Revenues | $ | 1,215 | $ | 1,066 | $ | 1,096 | $ | 1,199 |
| Gross profit (a) | $ | 809 | $ | 651 | $ | 659 | $ | 742 |
| Net income | $ | 467 | $ | 597(c) | $ | 367 | $ | 429 |
| Earnings per common share (b) | ||||||||
| Basic | $ | 1.03 | $ | 1.31 | $ | 0.80 | $ | 0.94 |
| Diluted | $ | 1.01 | $ | 1.29 | $ | 0.79 | $ | 0.92 |
| Average shares outstanding | 454.9 | 454.7 | 457.3 | 457.5 | ||||
(a) Operating income before general and administrative expense. (b) Because quarterly earnings per share is based on the weighted average shares outstanding during the quarter, the sum of quarterly earnings per share may not equal earnings per share for the year. (c) Included in second quarter net income is an after-tax gain on the distribution of Hugoton Royalty Trust units of $292 million (Note 9). |
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