Quarterly Results of Operations (Unaudited)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Quarterly Results of Operations (Unaudited)

Quarterly Results of Operations (Unaudited)

The following table summarizes quarterly unaudited results of operations for the periods presented.

	For The Quarter Ended
	March 31, 2019		June 30, 2019		Sept. 30, 2019		December 31, 2019
	(In millions, except per-share data)
Total revenue	$	4,119	$	4,193	$	4,243	$	4,274
Margin	581		583		561		578
Net income	198		196		175		168
Net income per share - Basic (1)	$	3.19	$	3.15	$	2.81	$	2.70
Net income per share - Diluted (1)	$	2.99	$	3.06	$	2.75	$	2.67

	For The Quarter Ended
	March 31, 2018		June 30, 2018		Sept. 30, 2018		December 31, 2018
	(In millions, except per-share data)
Total revenue	$	4,646	$	4,883	$	4,697	$	4,664
Margin	615		673		566		664
Gain (loss) on sales of subsidiaries	—		—		37		(52		)
Net income	107		202		197		201
Net income per share - Basic (1)	$	1.79	$	3.29	$	3.22	$	3.24
Net income per share - Diluted (1)	$	1.64	$	3.02	$	2.90	$	3.01

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(1)

The dilutive effect of all potentially dilutive common shares is calculated using the treasury stock method and is based on the weighted-average common share equivalents outstanding during each quarter. Accordingly, the sum of the quarterly net income per share amounts may not agree to the total for the year.