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Selected Quarterly Financial Data (Tables) | 12 Months Ended
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Dec. 31, 2016
Schedule of Selected Quarterly Financial Data |
UAL |  | Quarter Ended |
(In millions, except per share amounts) |  | March 31 |  |  | June 30 |  |  | September 30 |  |  | December 31 |
2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating revenue |  | $ | 8,195 |  |  | $ | 9,396 |  |  | $ | 9,913 |  |  | $ | 9,052 |
Income from operations |  |  | 649 |  |  |  | 1,060 |  |  |  | 1,624 |  |  |  | 1,005 |
Net income |  |  | 313 |  |  |  | 588 |  |  |  | 965 |  |  |  | 397 |
Basic earnings per share |  |  | 0.88 |  |  |  | 1.78 |  |  |  | 3.02 |  |  |  | 1.26 |
Diluted earnings per share |  |  | 0.88 |  |  |  | 1.78 |  |  |  | 3.01 |  |  |  | 1.26 |
2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating revenue |  | $ | 8,608 |  |  | $ | 9,914 |  |  | $ | 10,306 |  |  | $ | 9,036 |
Income from operations |  |  | 741 |  |  |  | 1,445 |  |  |  | 1,899 |  |  |  | 1,081 |
Net income |  |  | 508 |  |  |  | 1,193 |  |  |  | 4,816 |  |  |  | 823 |
Basic earnings per share |  |  | 1.33 |  |  |  | 3.14 |  |  |  | 12.83 |  |  |  | 2.24 |
Diluted earnings per share |  |  | 1.32 |  |  |  | 3.14 |  |  |  | 12.82 |  |  |  | 2.24 |
Schedule of Effect of Four Quarters Events | UAL’s quarterly financial data is subject to seasonal fluctuations and historically its second and third quarter financial results, which reflect higher travel demand, are better than its first and fourth quarter financial results. UAL’s quarterly results were impacted by the following significant items (in millions):
|  | Quarter Ended |
|  | March 31 |  |  | June 30 |  |  | September 30 |  |  | December 31 |
2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impairment of assets |  | $ | — |  |  | $ | 412 |  |  | $ | — |  |  | $ | — |
Cleveland airport lease restructuring |  |  | 74 |  |  |  | — |  |  |  | — |  |  |  | — |
Labor agreement costs and related items |  |  | 100 |  |  |  | 10 |  |  |  | 14 |  |  |  | (60) |
Severance and benefit costs |  |  | 8 |  |  |  | 6 |  |  |  | 13 |  |  |  | 10 |
(Gains) losses on sale of assets and other special charges |  |  | 8 |  |  |  | 6 |  |  |  | 18 |  |  |  | 19 |
Special charges |  |  | 190 |  |  |  | 434 |  |  |  | 45 |  |  |  | (31) |
Nonoperating and income taxes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Losses (gain) on extinguishment of debt and other |  |  | 8 |  |  |  | (9) |  |  |  | — |  |  |  | — |
Income tax expense (benefit) related to special charges |  |  | (72) |  |  |  | (153) |  |  |  | (16) |  |  |  | 12 |
Income tax adjustments (Note 6) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 180 |
Total operating and nonoperating special items, net of income taxes |  | $ | 126 |  |  | $ | 272 |  |  | $ | 29 |  |  | $ | 161 |
2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impairment of assets |  | $ | 2 |  |  | $ | 11 |  |  | $ | 18 |  |  | $ | 48 |
Labor agreement costs and related items |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 18 |
Severance and benefit costs |  |  | 50 |  |  |  | 25 |  |  |  | 28 |  |  |  | 4 |
(Gains) losses on sale of assets and other special charges |  |  | 12 |  |  |  | 19 |  |  |  | 30 |  |  |  | 61 |
Special charges |  |  | 64 |  |  |  | 55 |  |  |  | 76 |  |  |  | 131 |
Nonoperating and income taxes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Losses on extinguishment of debt and other |  |  | 6 |  |  |  | 128 |  |  |  | 61 |  |  |  | 7 |
Income tax benefit related to special charges |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (11) |
Income tax expense (benefit) associated with valuation allowance release |  |  | — |  |  |  | — |  |  |  | (3,218) |  |  |  | 88 |
Total operating and nonoperating special items, net of income taxes |  | $ | 70 |  |  | $ | 183 |  |  | $ | (3,081) |  |  | $ | 215 |
See Note 16 of this report for additional information of these items.

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- Definition Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=68076893&loc=d3e1280-108306 + Details
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