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QUARTERLY FINANCIAL DATA | 12 Months Ended
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Dec. 31, 2019
Quarterly Financial Data [Abstract] |
QUARTERLY FINANCIAL DATA | QUARTERLY FINANCIAL DATA (unaudited)
|  | Three months ended |
(in millions except per share amounts) |  | March 31 |  | June 30 |  | Sept. 30 |  | Dec. 31 |
2019 |  |  |  |  |  |  |  |  |
Operating revenues |  | $ | 5,149 |  |  | $ | 5,909 |  |  | $ | 5,639 |  |  | $ | 5,729 |  |
Operating income |  | 505 |  |  | 968 |  |  | 819 |  |  | 665 |  |
Income before income taxes |  | 504 |  |  | 968 |  |  | 819 |  |  | 666 |  |
Net income |  | 387 |  |  | 741 |  |  | 659 |  |  | 514 |  | (a)
Net income per share, basic |  | 0.70 |  |  | 1.37 |  |  | 1.24 |  |  | 0.98 |  | (a)
Net income per share, diluted |  | 0.70 |  |  | 1.37 |  |  | 1.23 |  |  | 0.98 |  | (a)
|  | March 31 |  | June 30 |  | Sept. 30 |  | Dec. 31 |
2018 |  |  |  |  |  |  |  |  |
Operating revenues |  | $ | 4,944 |  |  | $ | 5,742 |  |  | $ | 5,575 |  |  | $ | 5,704 |  |
Operating income |  | 616 |  |  | 972 |  |  | 798 |  |  | 820 |  |
Income before income taxes |  | 602 |  |  | 960 |  |  | 786 |  |  | 817 |  |
Net income |  | 463 |  |  | 733 |  |  | 615 |  |  | 654 |  |
Net income per share, basic |  | 0.79 |  |  | 1.27 |  |  | 1.08 |  |  | 1.17 |  |
Net income per share, diluted |  | 0.79 |  |  | 1.27 |  |  | 1.08 |  |  | 1.17 |  |
(a) In addition to the ongoing impact of the Boeing 737 MAX aircraft ("MAX") grounding that impacted all four quarters of 2019, fourth quarter 2019 also included the impact of the pre-tax $124 million discretionary, special profitsharing award accrual authorized by the Company's Board of Directors during fourth quarter 2019 for compensation received from Boeing related to the Company's estimated 2019 financial damages related to the grounding of the Boeing 737 MAX. See Note 16 to the Consolidated Financial Statements for further information on the MAX groundings. The impact of this accrual resulted in a decrease to Net income of approximately $97 million and reduced Basic and Diluted net income per share by approximately $.18 for the fourth quarter 2019.

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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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