SELECTED QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

12 Months Ended

Dec. 31, 2014

SELECTED QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

19. SELECTED QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

Selected quarterly financial information for each of the quarters in the years ended December 31, 2014 and 2013 is as follows (in thousands, except per share data):

	March 31, 2014			June 30, 2014			September 30, 2014			December 31, 2014
Revenue	$	404,222		$	410,694		$	408,474		$	423,477
Operating income		63,066			65,535			69,850			41,845	(1)
Net income		51,738			55,732			57,546			30,006	(1)
Basic earnings per share:
Net income	$	0.45		$	0.48		$	0.50		$	0.26	(1)
Diluted earnings per share:
Net income	$	0.44		$	0.48		$	0.49		$	0.25	(1)
	March 31, 2013			June 30, 2013			September 30, 2013			December 31, 2013
Revenue	$	416,723		$	425,005		$	421,466		$	431,103
Operating income		59,892			67,969			67,271			56,019
Loss from discontinued operations, net of taxes		(355	)		(2,739	)		(663	)		—
Net income		181,092	(2)		20,429	(3)		51,843			47,471
Basic earnings per share:
Net income	$	1.81	(2)	$	0.19	(3)	$	0.45		$	0.41
Diluted earnings per share:
Net income	$	1.78	(2)	$	0.19	(3)	$	0.44		$	0.41

⁽¹⁾  The earnings amounts in the fourth quarter of 2014 were unfavorably impacted by $27.8 million of non-cash impairments recorded to write down the book values of two of CCA’s non-core facilities to the estimated fair values, as discussed in Note 5.

⁽²⁾  The earnings amounts in the first quarter of 2013 were favorably impacted by the net tax benefit resulting from the revaluation of certain deferred tax assets and liabilities associated with the REIT conversion effective January 1, 2013.

⁽³⁾  The earnings amounts in the second quarter of 2013 were negatively impacted by $36.3 million of expenses associated with debt refinancing transactions.