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Quarterly Financial Data (Unaudited)
12 Months Ended
Dec. 31, 2021
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Data (Unaudited) Quarterly Financial Data (Unaudited)
Quarterly results of operations for the years ended December 31, 2021 and 2020 are summarized below (in millions, except per share amounts):
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
2021
Operating revenues$733 $1,499 $1,972 $1,834 
Operating income (loss)(1)
(294)147 186 (119)
Net income (loss)(1)(2)
(247)64 130 (129)
Basic earnings (loss) per share$(0.78)$0.20 $0.41 $(0.40)
Diluted earnings per share(1)(2)
N/A$0.20 $0.40 N/A
2020
Operating revenues$1,588 $215 $492 $661 
Operating (loss)(3)
(334)(410)(516)(454)
Net (loss)(3)
(268)(320)(393)(373)
(Loss) per share(3)
$(0.97)$(1.18)$(1.44)$(1.31)
Our 2021 and 2020 results include the effects of various special items. Refer to "Part II - Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations" within this Report for additional details.
The sum of the quarterly results may not equal the annual amount reported due to immaterial rounding differences.
The sum of the quarterly earnings per share amounts does not equal the annual amount reported since per share amounts are computed independently for each quarter and for the full year based on respective weighted average common shares outstanding and other dilutive potential common shares.