NOTE 17: SUMMARY OF QUARTERLY OPERATING RESULTS (UNAUDITED)
First | Second | Third | Fourth | |||||||||||
(in millions) | Quarter | Quarter | Quarter | Quarter | ||||||||||
2013(1) | ||||||||||||||
Revenues | $ | 6,396 | $ | 6,607 | $ | 6,462 | $ | 6,728 | ||||||
Operating income | 200 | 228 | 125 | 1 | ||||||||||
Net income | 126 | 143 | 74 | (13) | ||||||||||
2012(2) | ||||||||||||||
Revenues | $ | 6,409 | $ | 6,406 | $ | 6,363 | $ | 6,588 | ||||||
Operating income | 282 | 339 | 351 | 276 | ||||||||||
Net income | 185 | 221 | 231 | 171 | ||||||||||
(1) | The fourth quarter of 2013 includes $356 million of direct and allocated business realignment costs and an impairment charge of $100 million resulting from the decision to retire 10 aircraft and related engines. The third quarter of 2013 includes $34 million and the second quarter of 2013 includes $8 million of direct and allocated business realignment costs. | |||||||||||||
(2) | The fourth quarter of 2012 includes an impairment charge of $134 million resulting from the decision to retire 24 aircraft and related engines. The third quarter of 2012 includes the reversal of a $66 million legal reserve. |