SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)

12 Months Ended

Dec. 31, 2015

Quarterly Financial Information Disclosure [Abstract]

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)

	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
	(In thousands, except per share data)
2015
Total revenues(1)	$	1,840,694	$	2,280,397	$	3,102,901	$	1,999,995
Gross profit	1,672,236		2,092,906		2,947,282		1,879,383
Net income applicable to common stockholders	333,327		517,032		1,196,732		504,269
Net income applicable to common stockholders per basic common share	$	6.42	$	10.02	$	23.67	$	10.14
Net income applicable to common stockholders per diluted common share	$	6.36	$	9.94	$	23.41	$	10.00

	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
	(In thousands, except per share data)
2014
Total revenues(1)	$	1,641,802	$	2,123,575	$	2,836,497	$	1,840,097
Gross profit	1,406,471		1,882,996		2,619,978		1,674,685
Net income applicable to common stockholders	331,218		576,451		1,062,253		451,831
Net income applicable to common stockholders per basic common share	$	6.35	$	11.00	$	20.27	$	8.65
Net income applicable to common stockholders per diluted common share	$	6.25	$	10.89	$	20.03	$	8.56

(1) As the Company's retail accommodation business, which recognizes revenue at the completion of the stay, continues to expand, our quarterly results become increasingly impacted by seasonal factors.