Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2017

Quarterly Financial Data (Unaudited)

(13) Quarterly Financial Data (Unaudited)

Unaudited summarized financial data by quarter for 2017 and 2016 is as follows (in thousands, except per share data):


	Year ended December 31, 2017
	First		Second		Third		Fourth
	Quarter		Quarter		Quarter		Quarter		Year
Operating revenues	$	765,415	$	809,759	$	831,936	$	797,158	$	3,204,268
Operating income		76,295		106,596		112,369		92,939		388,199
Net income(1)		34,786		50,477		53,716		289,928		428,907
Net income per common share:
Basic		0.67		0.98		1.04		5.60		8.28
Diluted		0.65		0.95		1.01		5.46		8.08
Weighted average common shares:
Basic:		51,820		51,751		51,833		51,811		51,804
Diluted:		53,202		52,977		53,080		53,140		53,100


	Year ended December 31, 2016
	First		Second		Third		Fourth
	Quarter		Quarter		Quarter		Quarter		Year
Operating revenues	$	762,075	$	801,338	$	799,776	$	758,017	$	3,121,206
Operating income (loss)		61,809		84,137		85,834		(404,464)		(172,684)
Net income (loss)(2)		27,092		40,244		41,322		(270,244)		(161,586)
Net income (loss) per common share:
Basic		0.53		0.78		0.80		(5.22)		(3.14)
Diluted		0.52		0.77		0.79		(5.22)		(3.14)
Weighted average common shares:
Basic:		51,218		51,418		51,627		51,757		51,505
Diluted:		52,014		52,194		52,471		51,757		51,505

(1)

Net income for 2017 included a $246.8 million benefit related to the revaluation of the Company’s deferred tax liability and other tax liabilities in accordance with the Tax Act.

(2)

Operating loss for the fourth quarter of 2016 included a special charge of $465.6 million related to an impairment on the Company’s 50-seat aircraft.