| Summary of Quarterly Financial Data |
Summarized quarterly financial data: | | | | | | | | | | | | | | | | | | | | Three Months Ended | (In thousands) | | December 31, 2017 | | September 30, 2017 | | June 30, 2017 | | March 31, 2017 | | | (Successor) | | (Successor) | | (Successor) | | (Successor) | Net revenue | | $ | 196,221 |
| | $ | 192,250 |
| | $ | 203,178 |
| | $ | 184,538 |
| Operating income | | 100,762 |
| | 38,716 |
| | 49,792 |
| | 44,723 |
| Net income | | 189,574 |
| | 16,130 |
| | 28,207 |
| | 24,199 |
| Net income (loss) attributable to Class A shareholders/partners | | 179,686 |
| | 9,549 |
| | 18,830 |
| | 15,832 |
| Earnings (loss) per Class A share: | | | | | | | | | Basic | | $ | 1.80 |
| | .10 | | .19 | | .16 | Diluted | | $ | 1.74 |
| | .09 | | .18 | | .15 |
As a result of Tax Reform, the Company remeasured its net deferred tax liabilities and recognized a $111.3 million non-cash tax benefit and also recognized a gain on the remeasurement of the tax receivable arrangement of $51.8 million during the three months ended December 31, 2017.
| | | | | | | | | | | | | | | | | | | | | | | (In thousands) | | From November 4, 2016 through December 31, 2016 | | | From October 1, 2016 through November 3, 2016 | | Three Months Ended September 30, 2016 | | Three Months Ended June 30, 2016 | | Three Months Ended March 31, 2016 | | | (Successor) | | | (Predecessor) | | (Predecessor) | | (Predecessor) | | (Predecessor) | Net revenue | | $ | 111,998 |
| | | $ | 66,831 |
| | $ | 196,197 |
| | $ | 192,343 |
| | $ | 160,217 |
| Operating income | | (9,607 | ) | | | (15,022 | ) | | 51,667 |
| | 48,600 |
| | 37,640 |
| Net income (loss) | | (8,485 | ) | | | (21,084 | ) | | 33,513 |
| | 29,472 |
| | 18,537 |
| Income (Loss) per Class A share: | |
| | |
| |
| |
| |
| Basic | | $ | (0.05 | ) | | |
| |
| |
| |
| Diluted | | $ | (0.05 | ) | | |
| |
| |
| |
|
The following table sets forth the high and low sales prices for shares of our Class A common stock and warrants for the quarterly periods indicated, as reported on NASDAQ: | | | | | | | | | | | | | | | | | | Class A Common Stock | | Warrants | Year Ended December 31, 2017 | High | | Low | | High | | Low | First Quarter | $ | 16.48 |
| | $ | 12.75 |
| | $ | 3.00 |
| | $ | 1.73 |
| Second Quarter | 17.18 |
| | 14.93 |
| | 3.57 |
| | 2.43 |
| Third Quarter | 16.55 |
| | 13.00 |
| | 3.04 |
| | 1.69 |
| Fourth Quarter | 15.40 |
| | 11.00 |
| | 2.49 |
| | 1.23 |
| Year Ended December 31, 2016 | | | | | | | | First Quarter | $ | 10.00 |
| | $ | 9.50 |
| | $ | 0.40 |
| | $ | 0.21 |
| Second Quarter | 9.80 |
| | 9.50 |
| | 0.36 |
| | 0.16 |
| Third Quarter | 11.16 |
| | 9.72 |
| | 1.38 |
| | 0.25 |
| Fourth Quarter | 13.50 |
| | 10.67 |
| | 1.98 |
| | 1.13 |
|
|