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Quarterly Financial Data
 12 Months Ended
Dec. 31, 2017
Quarterly Financial Data [Abstract]  
Quarterly Financial Data

(16)  Quarterly Financial Data (Unaudited):









 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

($ in millions, except per share amounts)

 

First Quarter

 

Second Quarter

 

Third Quarter

 

Fourth Quarter

 

Total Year

2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$ 

 2,356 

 

$

 2,304 

 

$

 2,251 

 

$

 2,217 

 

$

 9,128 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income (loss)

 

 

 271 

 

 

 (394)

 

 

 309 

 

 

 (1,754)

 

 

 (1,568)



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss attributable to Frontier

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

common shareholders (1) (2)

 

 

 (129)

 

 

 (715)

 

 

 (92)

 

 

 (1,082)

 

 

 (2,018)



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic net loss per share attributable

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

to Frontier common shareholders(1) (2)

 

$

 (1.67)

 

$

 (9.20)

 

$

 (1.19)

 

$

 (13.91)

 

$

 (25.99)



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted net loss per share attributable

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

to Frontier common shareholders(1) (2)

 

$ 

 (1.67)

 

$

 (9.21)

 

$

 (1.19)

 

$

 (13.91)

 

$

 (25.99)



(1)

During the fourth quarter of 2017, we recorded a goodwill impairment charge of $2,078 million ($1,822 million after-tax). Refer to Note 6 for further details.

(2)

The quarterly net loss per share amounts are rounded to the nearest cent.  Annual net loss per share may vary depending on the effect of such rounding.











 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

($ in millions, except per share amounts)

 

First Quarter

 

Second Quarter

 

Third Quarter

 

Fourth Quarter

 

Total Year



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$ 

 1,355 

 

$

 2,608 

 

$

 2,524 

 

$

 2,409 

 

$

 8,896 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income

 

 

 58 

 

 

 311 

 

 

 264 

 

 

 255 

 

 

 888 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss attributable to Frontier

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

common shareholders (1) (2) (4)

 

 

 (240)

 

 

 (80)

 

 

 (134)

 

 

 (133)

 

 

 (587)



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic net loss per share attributable

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

to Frontier common shareholders(1) (2) (3) (4)

 

$

 (3.10)

 

$

 (1.05)

 

$

 (1.73)

 

$

 (1.73)

 

$

 (7.61)



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted net loss per share attributable

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

to Frontier common shareholders(1) (2) (3) (4)

 

$

 (3.10)

 

$

 (1.05)

 

$

 (1.73)

 

$

 (1.73)

 

$

 (7.61)



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 





(1)

During the fourth quarter of 2016, we recorded acquisition and integration expenses of $49 million ($48 million after-tax) related to the CTF acquisition in June 2016.

(2)

During the fourth quarter of 2016, we recorded restructuring costs and other charges of $80 million ($52 million after-tax) related to severance expense and special termination benefits resulting from a reduction in the workforce.

(3)

The quarterly net loss per share amounts are rounded to the nearest cent.  Annual net loss per share may vary depending on the effect of such rounding.

(4)

The change in revenue, operating income, net loss, and net loss per share during the second quarter of 2016 and each subsequent quarter of 2016 reflects additional results of the CTF Operations related to the CTF Acquisition, as described further in Note 3.