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Summarized Quarterly Data (Unaudited)
 12 Months Ended
Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]  
Summarized Quarterly Data (Unaudited)
Note 20—Summarized Quarterly Data (Unaudited)
The following table summarizes the quarterly results of operations for the years ended December 31, 2019 and 2018:
 
Fiscal Quarter
(in millions, except per share data)
First
 
Second
 
Third
 
Fourth (1)
2019
 
 
 
 
 
 
 
Revenues
$
1,282.6

 
$
1,323.1

 
$
1,354.5

 
$
1,341.2

Operating income
$
182.4

 
$
198.4

 
$
179.8

 
$
11.3

Net income (loss)
$
41.0

 
$
51.3

 
$
43.7

 
$
(92.9
)
Earnings (loss) per common share:
 
 
 
 
 
 
 
Basic earnings (loss) per common share
$
0.35

 
$
0.44

 
$
0.38

 
$
(0.80
)
Diluted earnings (loss) per common share
$
0.35

 
$
0.44

 
$
0.38

 
$
(0.80
)
 
 
 
 
 
 
 
 
 
Fiscal Quarter
(in millions, except per share data)
First
 
Second (2)
 
Third
 
Fourth (3)
2018
 
 
 
 
 
 
 
Revenues
$
816.1

 
$
826.9

 
$
789.7

 
$
1,155.3

Operating income
$
172.1

 
$
181.8

 
$
155.8

 
$
124.4

Net income (loss)
$
45.4

 
$
54.0

 
$
36.1

 
$
(42.0
)
Earnings (loss) per common share:
 
 
 
 
 
 
 
Basic earnings (loss) per common share
$
0.50

 
$
0.59

 
$
0.39

 
$
(0.37
)
Diluted earnings (loss) per common share
$
0.48

 
$
0.57

 
$
0.38

 
$
(0.37
)
(1)
During the fourth quarter of 2019, we recorded $170.6 million of impairment on our goodwill and other intangible assets. See Note 8, “Goodwill and Other Intangible Assets,” for further details.
(2)
During the second quarter of 2018, the Company recorded a recovery of loan losses and unfunded loan commitments of $17.0 million relating to the JIVDC. See Note 5, “Acquisitions and Other Investments,” for further details.
(3)
During the fourth quarter of 2018, we acquired Pinnacle, which resulted in the incurrence of $74.7 million in pre-opening and acquisition costs. See Note 5, “Acquisitions and Other Investments,” for further details. In addition, we recorded a $34.3 million impairment of long-lived assets. See Note 7, “Property and Equipment,” for further details. Lastly, we recorded a $17.2 million loss on early extinguishment of debt. See Note 10, “Long-term Debt,” for more details.