10-Q/APeriod: Q2 FY2010

ONEOK INC /NEW/ Quarterly Report (Amendment) for Q2 Ended Jun 30, 2010

Filed August 5, 2010For Securities:OKE

Summary

This filing is an amendment to ONEOK, Inc.'s (OKE) Quarterly Report on Form 10-Q for the period ended June 30, 2010. The primary purpose of this amendment is to furnish Exhibit 101, which contains XBRL formatted financial data that was inadvertently omitted from the original filing. Investors are advised that the XBRL data is unaudited and should not be relied upon for investment decisions; the official filed version of the Form 10-Q remains the authoritative document. While this amendment focuses on providing XBRL data, it also includes certifications related to the Sarbanes-Oxley Act, confirming the accuracy of financial reporting by key executives. The filing also incorporates by reference agreements related to commercial paper for ONEOK Partners, L.P., indicating ongoing financing activities for its master limited partnership subsidiary. Investors should refer to the original Form 10-Q for detailed financial performance and analysis, as this amendment is primarily a procedural correction.

Financial Highlights

51 data points
Beta

Revenue

$2.74B

16.6% Gross Margin

Net Income

$41.72M

1.5% Net Margin

EPS (Diluted)

$0.20

Total Assets

$12.12B

Cash & Equivalents

$103.25M

Free Cash Flow

-$79.02M

Financial Statements
Beta
Revenue$2.74B
Cost of Revenue$2.35B
Gross Profit$455.56M
Operating Expenses$279.09M
Operating Income$178.71M
Interest Expense$75.36M
Net Income$41.72M
EPS (Basic)$0.20
EPS (Diluted)$0.20
Shares Outstanding (Basic)213K
Shares Outstanding (Diluted)216K

Key Highlights

  • 1Amendment No. 1 to the Form 10-Q for the quarter ended June 30, 2010, filed to include Exhibit 101.
  • 2Exhibit 101 contains XBRL formatted financial data, including financial statements and notes.
  • 3Investors are cautioned that the XBRL data is unaudited and not to be relied upon for investment decisions.
  • 4The filing includes certifications by key executives (John W. Gibson and Curtis L. Dinan) pursuant to Section 302 and Section 906 of the Sarbanes-Oxley Act.
  • 5Commercial Paper Dealer Agreements for ONEOK Partners, L.P. with Citigroup Global Markets Inc., Banc of America Securities LLC, and SunTrust Robinson Humphrey, Inc. are incorporated by reference.
  • 6ONEOK, Inc. is identified as a large accelerated filer.
  • 7As of July 28, 2010, the company had 106,418,886 shares of common stock outstanding.

Frequently Asked Questions

The primary purpose of this Amendment No. 1 is to furnish Exhibit 101, which contains XBRL formatted financial data that was accidentally omitted from the original Form 10-Q filing on August 4, 2010. This includes financial statements and related notes in a machine-readable format.

No, investors are explicitly advised that the XBRL data contained in Exhibit 101 is unaudited and is being furnished for testing purposes. Investors should continue to rely on the official filed version of the Form 10-Q for accurate and authoritative financial information.

The filing includes certifications from John W. Gibson and Curtis L. Dinan, pursuant to Section 302 of the Sarbanes-Oxley Act, attesting to the accuracy of the financial reporting. Additionally, certifications under Section 906 of the Sarbanes-Oxley Act are furnished, related to the accuracy of the periodic report and compliance with securities laws.

The incorporated Commercial Paper Dealer Agreements for ONEOK Partners, L.P. (the company's master limited partnership) indicate ongoing arrangements for short-term debt financing. These agreements with major financial institutions suggest that the company is utilizing established channels for its commercial paper program.