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Selected Quarterly Financial Data (Unaudited) | 12 Months Ended
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Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract] |
Selected Quarterly Financial Data (Unaudited) | SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)
|  | Quarter Ended
(In millions, except per share amounts) |  | March 31 |  | June 30 |  | September 30 |  | December 31
2019 |  |  |  |  |  |  |  |
Operating revenue |  | $ | 9,589 |  |  | $ | 11,402 |  |  | $ | 11,380 |  |  | $ | 10,888 |
Income from operations |  | 495 |  |  | 1,472 |  |  | 1,473 |  |  | 861 |
Net income |  | 292 |  |  | 1,052 |  |  | 1,024 |  |  | 641 |
Basic earnings per share |  | 1.09 |  |  | 4.03 |  |  | 4.01 |  |  | 2.54 |
Diluted earnings per share |  | 1.09 |  |  | 4.02 |  |  | 3.99 |  |  | 2.53 |
2018 |  |  |  |  |  |  |  |
Operating revenue |  | $ | 9,032 |  |  | $ | 10,777 |  |  | $ | 11,003 |  |  | $ | 10,491 |
Income from operations (a) |  | 262 |  |  | 1,145 |  |  | 1,187 |  |  | 635 |
Net income (a) |  | 145 |  |  | 683 |  |  | 833 |  |  | 461 |
Basic earnings per share (a) |  | 0.51 |  |  | 2.48 |  |  | 3.06 |  |  | 1.70 |
Diluted earnings per share (a) |  | 0.51 |  |  | 2.48 |  |  | 3.05 |  |  | 1.69 |
(a) Amounts adjusted due to the adoption of Accounting Standards Update No. 2016-02, Leases (Topic 842). See Note 1 of this report for additional information on the adjustments. 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
2019 |  |  |  |  |  |  |  |
Impairment of assets |  | 8 |  |  | 61 |  |  | — |  |  | 102 |
Severance and benefit costs |  | 6 |  |  | 6 |  |  | 2 |  |  | 2 |
(Gains) losses on sale of assets and other special charges |  | 4 |  |  | 4 |  |  | 25 |  |  | 26 |
Total operating special charges |  | 18 |  |  | 71 |  |  | 27 |  |  | 130 |
Nonoperating unrealized (gains) losses on investments |  | (17 | ) |  | (34 | ) |  | (21 | ) |  | (81 | )
Total special charges and unrealized (gains) losses on investments |  | 1 |  |  | 37 |  |  | 6 |  |  | 49 |
Income tax benefit related to special charges and unrealized (gains) losses on investments |  | — |  |  | (8 | ) |  | (2 | ) |  | (11 | )
Total special charges and unrealized (gains) losses on investments, net of income tax |  | 1 |  |  | 29 |  |  | 4 |  |  | 38 |
2018 |  |  |  |  |  |  |  |
Impairment of assets |  | $ | 23 |  |  | $ | 111 |  |  | $ | 11 |  |  | $ | 232 |
Termination of an engine maintenance service agreement |  | — |  |  | — |  |  | — |  |  | 64 |
Severance and benefit costs |  | 14 |  |  | 11 |  |  | 9 |  |  | 7 |
(Gains) losses on sale of assets and other special charges |  | 3 |  |  | 7 |  |  | (3 | ) |  | (2 | )
Total operating special charges |  | 40 |  |  | 129 |  |  | 17 |  |  | 301 |
Nonoperating unrealized (gains) losses on investments |  | (45 | ) |  | 135 |  |  | (29 | ) |  | (56 | )
Total special charges and unrealized (gains) losses on investments |  | (5 | ) |  | 264 |  |  | (12 | ) |  | 245 |
Income tax benefit related to special charges and unrealized (gains) losses on investments |  | 1 |  |  | (59 | ) |  | 3 |  |  | (55 | )
Income tax adjustments |  | — |  |  | — |  |  | — |  |  | (5 | )
Total special charges and unrealized (gains) losses on investments, net of income tax |  | $ | (4 | ) |  | $ | 205 |  |  | $ | (9 | ) |  | $ | 185 |
See Note 14 of this report for additional information related to these items.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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