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Quarterly Financial Information (Tables)
 12 Months Ended
Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]  
Schedule of Quarterly Financial Information

The following table presents selected unaudited financial information for the eight quarters in the period ended December 31, 2019. The results for any quarter are not necessarily indicative of future quarterly results and, accordingly, period to period comparisons should not be relied upon as an indication of future performance.

 

 

 

Three Months Ended

 

 

 

March 31

 

 

June 30

 

 

September 30

 

 

December 31

 

 

 

(in millions, except per share data)

 

Year ended December 31, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$

376

 

 

$

422

 

 

$

428

 

 

$

335

 

Operating income

 

 

31

 

 

 

66

 

 

 

68

 

 

 

23

 

Net income

 

 

26

 

 

 

34

 

 

 

50

 

 

 

15

 

Basic earnings per share (1)

 

$

0.19

 

 

$

0.24

 

 

$

0.36

 

 

$

0.11

 

Diluted earnings per share (1)

 

$

0.18

 

 

$

0.24

 

 

$

0.36

 

 

$

0.11

 

Year ended December 31, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$

378

 

 

$

433

 

 

$

458

 

 

$

346

 

Operating income

 

 

23

 

 

 

49

 

 

 

89

 

 

 

23

 

Net income

 

 

5

 

 

 

32

 

 

 

69

 

 

 

7

 

Basic earnings per share (1)

 

$

0.04

 

 

$

0.23

 

 

$

0.50

 

 

$

0.05

 

Diluted earnings per share (1)

 

$

0.04

 

 

$

0.23

 

 

$

0.49

 

 

$

0.05

 

 

(1)

 

Earnings per share is computed independently for each of the quarters presented. Therefore, the sum of the quarterly earnings per share may not equal the total computed for the year.