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Quarterly Financial Data (Unaudited) | 12 Months Ended
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Dec. 31, 2019
Quarterly Financial Data (Unaudited) |
Quarterly Financial Data (Unaudited) | (15) Quarterly Financial Data (Unaudited) Unaudited summarized financial data by quarter for 2019 and 2018 is as follows (in thousands, except per share data):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended December 31, 2019 |
​ | ​ | First | ​ | Second | ​ | Third | ​ | Fourth | ​ | ​ | ​ |
​ | ​ | Quarter | ​ | Quarter | ​ | Quarter | ​ | Quarter | ​ | Year |
Operating revenues |  | $ | 723,694 |  | $ | 744,383 |  | $ | 760,295 |  | $ | 743,591 |  | $ | 2,971,963 | ​
Operating income | ​ |  | 96,419 | ​ |  | 144,093 | ​ |  | 146,441 | ​ |  | 125,305 | ​ |  | 512,258 | ​
Net income (1) | ​ |  | 88,181 | ​ |  | 88,052 | ​ |  | 91,339 | ​ |  | 72,527 | ​ |  | 340,099 | ​
Net income per common share: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic | ​ |  | 1.71 | ​ |  | 1.72 | ​ |  | 1.80 | ​ |  | 1.44 | ​ |  | 6.68 | ​
Diluted | ​ |  | 1.69 | ​ |  | 1.71 | ​ |  | 1.79 | ​ |  | 1.43 | ​ |  | 6.62 | ​
Weighted average common shares: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic: | ​ |  | 51,440 | ​ |  | 51,145 | ​ |  | 50,746 | ​ |  | 50,395 | ​ |  | 50,932 | ​
Diluted: | ​ |  | 52,098 | ​ |  | 51,477 | ​ |  | 51,129 | ​ |  | 50,796 | ​ |  | 51,375 | ​
| (1) | Net income for the first quarter of 2019 included a $46.5 million gain related to the sale of ExpressJet (see Note 13 Gain on Sale of ExpressJet for more details) and a $21.9 million special charge (see Note 8 Special Items for more details).
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​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended December 31, 2018 |
​ | ​ | First | ​ | Second | ​ | Third | ​ | Fourth | ​ | ​ | ​ |
​ | ​ | Quarter | ​ | Quarter | ​ | Quarter | ​ | Quarter | ​ | Year |
Operating revenues |  | $ | 783,400 |  | $ | 805,515 |  | $ | 829,275 |  | $ | 803,489 |  | $ | 3,221,679 | ​
Operating income | ​ |  | 88,175 | ​ |  | 126,678 | ​ |  | 137,925 | ​ |  | 121,502 | ​ |  | 474,280 | ​
Net income | ​ |  | 54,362 | ​ |  | 75,859 | ​ |  | 83,046 | ​ |  | 67,105 | ​ |  | 280,372 | ​
Net income per common share: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic | ​ |  | 1.05 | ​ |  | 1.46 | ​ |  | 1.60 | ​ |  | 1.30 | ​ |  | 5.40 | ​
Diluted | ​ |  | 1.03 | ​ |  | 1.43 | ​ |  | 1.57 | ​ |  | 1.28 | ​ |  | 5.30 | ​
Weighted average common shares: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic: | ​ |  | 51,921 | ​ |  | 52,046 | ​ |  | 52,039 | ​ |  | 51,650 | ​ |  | 51,914 | ​
Diluted: | ​ |  | 53,033 | ​ |  | 52,913 | ​ |  | 52,981 | ​ |  | 52,556 | ​ |  | 52,871 | ​
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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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