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Quarterly Financial Summary (Unaudited) | 12 Months Ended
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Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Financial Summary (Unaudited) | 18. QUARTERLY FINANCIAL SUMMARY (UNAUDITED) Summary financial information by quarter is as follows (dollars in thousands, except per share data):
|  | Quarter |  |  | Total |
2019 |  | First |  |  | Second (2) |  |  | Third (3) |  |  | Fourth |  |  | Year |
Revenue |  | $ | 157,853 |  |  | $ | 156,441 |  |  | $ | 154,959 |  |  | $ | 158,451 |  |  | $ | 627,704 |
Operating income |  |  | 29,971 |  |  |  | 184 |  |  |  | 24,294 |  |  |  | 32,013 |  |  | $ | 86,462 |
Net income (loss) |  |  | 24,791 |  |  |  | (559 | ) |  |  | 18,234 |  |  |  | 27,516 |  |  | $ | 69,982 |
Net income (loss) per share (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.35 |  |  | $ | (0.01 | ) |  | $ | 0.26 |  |  | $ | 0.39 |  |  | $ | 1.00 |
Diluted |  | $ | 0.35 |  |  | $ | (0.01 | ) |  | $ | 0.25 |  |  | $ | 0.38 |  |  | $ | 0.97 |
|  | Quarter |  |  | Total |
2018 |  | First (4) |  |  | Second (5) |  |  | Third |  |  | Fourth (6) |  |  | Year |
Revenue |  | $ | 148,065 |  |  | $ | 142,036 |  |  | $ | 145,690 |  |  | $ | 145,505 |  |  | $ | 581,296 |
Operating income |  |  | 20,529 |  |  |  | 11,303 |  |  |  | 19,283 |  |  |  | 20,183 |  |  | $ | 71,298 |
Net income |  |  | 17,502 |  |  |  | 8,751 |  |  |  | 14,857 |  |  |  | 14,071 |  |  | $ | 55,181 |
Net income per share (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.25 |  |  | $ | 0.13 |  |  | $ | 0.21 |  |  | $ | 0.20 |  |  | $ | 0.79 |
Diluted |  | $ | 0.25 |  |  | $ | 0.12 |  |  | $ | 0.21 |  |  | $ | 0.20 |  |  | $ | 0.77 |
(1) | Basic and diluted earnings per share are calculated independently for each of the quarters presented. Accordingly, the sum of the quarterly earnings per share amounts may not agree with the annual earnings per share amount for the corresponding year.
For the year ended December 31, 2019, quarterly results included:
(2) | Second quarter of 2019 net income included a $30.0 million significant legal settlement for the FTC matter, of which $23.3 million was non-deductible for income tax purposes during the second quarter of 2019.
(3) | Third quarter of 2019 net income included a $7.1 million significant legal settlement for the Oregon arbitrations matter.
For the year ended December 31, 2018, quarterly results included:
(4) | First quarter of 2018 net income included a $3.5 million significant legal settlement for the Surrett matter.
(5) | Second quarter of 2018 net income included a $6.0 million significant legal settlement for the Surrett matter.
(6) | Fourth quarter of 2018 net income included a $5.0 million significant legal settlement for the multi-state AG matter.

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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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