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Selected Quarterly Financial Data | 12 Months Ended
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Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract] |
Selected Quarterly Financial Data |
21. | Selected Quarterly Financial Data—(unaudited)
Provided below are selected unaudited quarterly financial data for 2017 and 2016. The earnings per share information is calculated independently for each quarter based on the weighted average number of common stock and common stock equivalents outstanding, which may fluctuate, based on quarterly income levels and market prices. Therefore and due to the seasonality of the Company’s earnings, the sum of the quarters’ per share information may not equal the annual amount presented on the Consolidated Statements of Operations.
|  |  | 2017
|  |  | First |  | Second |  | Third |  | Fourth (a)
Net revenues | $ | 1,839 |  |  | $ | 2,238 |  |  | $ | 2,752 |  |  | $ | 2,019 |
Net income (loss) | (107 | ) |  | 3 |  |  | 245 |  |  | 220 |
Per share information: |  |  |  |  |  |  |
| Basic |  |  |  |  |  |  |
|  | Net income (loss) | $ | (1.25 | ) |  | $ | 0.04 |  |  | $ | 2.96 |  |  | $ | 2.70 |
|  | Weighted average shares | 85.7 |  |  | 84.0 |  |  | 82.6 |  |  | 81.3 |
| Diluted |  |  |  |  |  |  |
|  | Net income (loss) | $ | (1.25 | ) |  | $ | 0.04 |  |  | $ | 2.91 |  |  | $ | 2.65 |
|  | Weighted average shares | 85.7 |  |  | 85.2 |  |  | 84.0 |  |  | 82.7 |
|  |  | 2016
|  |  | First |  | Second |  | Third |  | Fourth
Net revenues | $ | 1,881 |  |  | $ | 2,243 |  |  | $ | 2,656 |  |  | $ | 1,879 |
Net income (loss) | (51 | ) |  | 36 |  |  | 209 |  |  | (31 | )
Per share information: |  |  |  |  |  |  |
| Basic |  |  |  |  |  |  |
|  | Net income (loss) | $ | (0.53 | ) |  | $ | 0.39 |  |  | $ | 2.32 |  |  | $ | (0.35 | )
|  | Weighted average shares | 96.3 |  |  | 93.9 |  |  | 90.4 |  |  | 87.4 |
| Diluted |  |  |  |  |  |  |
|  | Net income (loss) | $ | (0.53 | ) |  | $ | 0.38 |  |  | $ | 2.28 |  |  | $ | (0.35 | )
|  | Weighted average shares | 96.3 |  |  | 95.1 |  |  | 91.8 |  |  | 87.4 |
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(a) | Net income for fourth quarter 2017 includes provisional amounts for the Tax Act of (i) a tax benefit of $317 million resulting from the remeasurement of net deferred income tax liabilities as a result of the reduced corporate tax rate and (ii) a tax provision of $104 million for the one-time transition tax on the deemed repatriation of cumulative foreign subsidiary earnings. This estimate will be finalized in a subsequent measurement period during 2018.

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- References No definition available. + Details
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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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