Quarterly Financial Data

12 Months Ended

Dec. 31, 2022

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Data (unaudited)

The following tables present certain consolidated quarterly financial information for each of the last twelve quarters for the years ended December 31, 2022, 2021 and 2020:


	Quarter Ended
	March 31,		June 30,		September 30,		December 31,
	(In millions, except for share data)
2022
Net Revenues	$	2,248	$	2,597	$	2,690	$	3,002
Gross profit	1,073		1,284		1,348		1,458
Net Income	65		123		129		165
Net Income per share-basic	1.30		2.43		2.57		3.28
Net Income per share-diluted	1.30		2.43		2.56		3.25
Weighted average shares
Basic	50,408,754		50,364,529		50,325,075		50,284,640
Diluted	50,408,754		50,364,529		51,315,343		51,274,909

2021
Net Revenues	$	1,378	$	1,703	$	1,858	$	2,130
Gross profit	591		754		807		853
Net (loss) Income	(34)		68		95		(46)
Net (loss) Income per share-basic	(0.68)		1.37		1.92		(0.92)
Net (loss) Income per share-diluted	(0.68)		1.37		1.92		(0.92)
Weighted average shares
Basic	49,867,625		49,822,272		49,597,157		49,926,533
Diluted	49,867,625		49,822,272		49,597,157		49,926,533

2020
Net Revenues	$	652	$	878	$	1,116	$	1,328
Gross profit	313		427		480		489
Net (loss) Income	(21)		56		15		(51)
Net (loss) Income per share-basic	(0.44)		1.11		0.28		(1.02)
Net (loss) Income per share-diluted	(0.44)		1.11		0.28		(1.02)
Weighted average shares
Basic	49,709,955		49,709,973		49,720,854		49,820,185
Diluted	49,709,955		49,709,973		49,720,854		49,820,185