Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2014

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Data (Unaudited)

Quarterly Financial Data (Unaudited)

	First Quarter		Second Quarter	Third Quarter		Fourth Quarter	Total
	(Dollars in millions, except per share amounts)
2014
Operating revenues	$	4,538	4,541	4,514		4,438	18,031
Operating income	653		655	619		483	2,410
Net income	203		193	188		188	772
Basic earnings per common share	0.35		0.34	0.33		0.33	1.36
Diluted earnings per common share	0.35		0.34	0.33		0.33	1.36
2013
Operating revenues	$	4,513	4,525	4,515		4,542	18,095
Operating income (loss)	782		715	(685	)	641	1,453
Net income (loss)	298		269	(1,045	)	239	(239	)
Basic earnings (loss) per common share	0.48		0.45	(1.76	)	0.41	(0.40	)
Diluted earnings (loss) per common share	0.48		0.44	(1.76	)	0.41	(0.40	)

During the fourth quarter of 2014, we recognized a $60 million tax benefit associated with a worthless stock deduction for the tax basis in a wholly-owned foreign subsidiary as a result of developments in bankruptcy proceedings involving its sole asset that occurred in the first quarter of 2014. During the fourth quarter of 2014, we also recognized a pension settlement charge of $63 million. The net loss of $1.045 billion in the third quarter of 2013 is primarily due to a goodwill impairment charge of $1.1 billion and a charge of $233 million in connection with a then tentative settlement in a litigation matter.