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SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) (Tables) | 12 Months Ended
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Dec. 31, 2017
Schedule of Selected Quarterly Financial Data |
UAL |  | Quarter Ended |
(In millions, except per share amounts) |  | March 31 |  |  | June 30 |  |  | September 30 |  |  | December 31 |
2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating revenue |  | $ | 8,420 |  |  | $ | 10,000 |  |  | $ | 9,878 |  |  | $ | 9,438 |
Income from operations |  |  | 278 |  |  |  | 1,399 |  |  |  | 1,092 |  |  |  | 729 |
Net income |  |  | 96 |  |  |  | 818 |  |  |  | 637 |  |  |  | 580 |
Basic earnings per share |  |  | 0.31 |  |  |  | 2.67 |  |  |  | 2.12 |  |  |  | 1.99 |
Diluted earnings per share |  |  | 0.31 |  |  |  | 2.66 |  |  |  | 2.12 |  |  |  | 1.99 |
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 |
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 |
2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Severance and benefit costs |  | $ | 37 |  |  | $ | 41 |  |  | $ | 23 |  |  | $ | 15 |
Impairment of assets |  |  | — |  |  |  | — |  |  |  | 15 |  |  |  | 10 |
(Gains) losses on sale of assets and other special charges |  |  | 14 |  |  |  | 3 |  |  |  | 12 |  |  |  | 6 |
Total operating special charges |  |  | 51 |  |  |  | 44 |  |  |  | 50 |  |  |  | 31 |
Income taxes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Income tax benefit related to special charges |  |  | (18) |  |  |  | (16) |  |  |  | (18) |  |  |  | (11) |
Income tax adjustments (Note 7) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (192) |
Total operating special charges, net of income taxes and income tax adjustments |  | $ | 33 |  |  | $ | 28 |  |  | $ | 32 |  |  | $ | (172) |
2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Operating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Labor agreement costs and related items |  | $ | 100 |  |  | $ | 10 |  |  | $ | 14 |  |  | $ | (60) |
Cleveland airport lease restructuring |  |  | 74 |  |  |  | — |  |  |  | — |  |  |  | — |
Severance and benefit costs |  |  | 8 |  |  |  | 6 |  |  |  | 13 |  |  |  | 10 |
Impairment of assets |  |  | — |  |  |  | 412 |  |  |  | — |  |  |  | — |
(Gains) losses on sale of assets and other special charges |  |  | 8 |  |  |  | 6 |  |  |  | 18 |  |  |  | 19 |
Total operating 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 charges, net of income taxes and income tax adjustments |  | $ | 126 |  |  | $ | 272 |  |  | $ | 29 |  |  | $ | 161 |

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