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Quarterly Results of Operations (Unaudited) | 12 Months Ended
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Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Results of Operations (Unaudited) | Quarterly Results of Operations (Unaudited) The following table sets forth a summary of the Company’s consolidated unaudited quarterly results of operations for the years ended December 31, in thousands of dollars, except per share amounts.
| Quarters
| First |  | Second |  | Third |  | Fourth
Revenue: |  |  |  |  |  |  |
2018 | $ | 326,968 |  |  | $ | 379,743 |  |  | $ | 375,830 |  |  | $ | 393,662 |
2017 | $ | 344,700 |  |  | $ | 390,532 |  |  | $ | 375,800 |  |  | $ | 402,747 |
Cost of services sold: |  |  |  |  |  |  |
2018 | $ | 243,030 |  |  | $ | 253,390 |  |  | $ | 238,690 |  |  | $ | 256,088 |
2017 | $ | 237,563 |  |  | $ | 267,822 |  |  | $ | 249,418 |  |  | $ | 268,673 |
Net Income (loss): |  |  |  |  |  |  |
2018 | $ | (28,519 | ) |  | $ | 5,951 |  |  | $ | (13,667 | ) |  | $ | (75,713 | )
2017 | $ | (9,683 | ) |  | $ | 13,467 |  |  | $ | 21,984 |  |  | $ | 231,455 |
Net income (loss) attributable to MDC Partners Inc.: |  |  |  |  |  |  |
2018 | $ | (29,416 | ) |  | $ | 3,406 |  |  | $ | (16,125 | ) |  | $ | (81,598 | )
2017 | $ | (10,566 | ) |  | $ | 11,253 |  |  | $ | 18,493 |  |  | $ | 222,668 |
Income (loss) per common share: |  |  |  |  |  |  |
Basic |  |  |  |  |  |  |
2018 | $ | (0.56 | ) |  | $ | 0.02 |  |  | $ | (0.32 | ) |  | $ | (1.46 | )
2017 | $ | (0.21 | ) |  | $ | 0.14 |  |  | $ | 0.25 |  |  | $ | 3.33 |
Diluted |  |  |  |  |  |  |
2018 | $ | (0.56 | ) |  | $ | 0.02 |  |  | $ | (0.32 | ) |  | $ | (1.46 | )
2017 | $ | (0.21 | ) |  | $ | 0.14 |  |  | $ | 0.24 |  |  | $ | 3.30 |
The above revenue, cost of services sold, and income (loss) have primarily been affected by acquisitions and divestitures. Historically, with some exceptions, the Company’s fourth quarter generates the highest quarterly revenues in a year. The fourth quarter has historically been the period in the year in which the highest volumes of media placements and retail related consumer marketing occur. Income (loss) have been affected as follows:
• | The fourth quarter of 2018 and 2017 included a foreign exchange loss of $13,324 and $660, respectively.
• | The fourth quarter of 2018 and 2017 included stock-based compensation charges of $1,534 and $7,480, respectively.
• | The fourth quarter of 2018 and 2017 included changes in deferred acquisition resulting in income of $8,979 and $18,173, respectively.
• | The fourth quarter of 2018 included goodwill and other asset impairment charges of $56,732 and the third and fourth quarter of 2017 included goodwill impairment charges of $29,631 and $18,893, respectively.
• | The fourth quarter of 2018 included income tax expense related to the establishment of the Company’s valuation allowance of $49,447. The fourth quarter of 2017 included income tax benefit of $226,466 relating to the decrease to the valuation allowance.

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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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