XML 108 R27.htm IDEA: XBRL DOCUMENT v3.20.1
Quarterly Financial Data
12 Months Ended
Dec. 31, 2019
Quarterly Financial Data [Abstract]  
Quarterly Financial Data
(19)
Quarterly Financial Data (Unaudited):

2019
                             
($ in millions, except per share amounts)
 
First
Quarter
   
Second
Quarter
   
Third
Quarter
   
Fourth
Quarter
   
Total
Year
 
                               
Revenue
 
$
2,101
   
$
2,067
   
$
1,997
   
$
1,942
   
$
8,107
 
                                         
Operating income (loss )(2)(3)
 
$
339
   
$
(5,459
)
 
$
26
   
$
220
   
$
(4,873
)
                                         
Net loss attributable to Frontier common shareholders (2)(3)
 
$
(87
)
 
$
(5,317
)
 
$
(345
)
 
$
(162
)
 
$
(5,911
)
                                         
Basic and diluted net loss per share attributable to Frontier common shareholders (1)(2)(3)
 
$
(0.84
)
 
$
(51.07
)
 
$
(3.31
)
 
$
(1.55
)
 
$
(56.80
)


(1)
The quarterly net loss per share amounts are rounded to the nearest cent.  Annual net loss per share may vary depending on the effect of such rounding and our preferred stock conversion during 2019.
(2)
During 2019, we recorded aggregate goodwill impairment charges of $5,725 million ($5,201 million after-tax). Refer to Note 8 for further details.
(3)
During 2019, we recorded aggregate losses on the disposal of our Northwest Operations of $446 million ($446 million after-tax). Refer to Note 7 for further details.

2018
                             
($ in millions, except per share amounts)
 
First
Quarter
   
Second
Quarter
   
Third
Quarter
   
Fourth
Quarter
   
Total
Year
 
                               
Revenue (3)
 
$
2,199
   
$
2,162
   
$
2,126
   
$
2,124
   
$
8,611
 
                                         
Operating income (loss) (2)(3)
 
$
366
   
$
367
   
$
(33
)
 
$
127
   
$
827
 
                                         
Net loss attributable to Frontier common shareholders (2)(3)
 
$
(33
)
 
$
(72
)
 
$
(426
)
 
$
(219
)
 
$
(750
)
                                         
Basic and diluted net loss per share attributable to Frontier common shareholders (1)(2)(3)
 
$
(0.44
)
 
$
(0.92
)
 
$
(4.11
)
 
$
(2.12
)
 
$
(8.37
)

(1)
The quarterly net loss per share amounts are rounded to the nearest cent.  Annual net loss per share may vary depending on the effect of such rounding and our preferred stock conversion during 2018.
(2)
During 2018, we recorded aggregate goodwill impairment charges of $641 million ($572 million after-tax). Refer to Note 8 for further details.
(3)
Effective January 1, 2018, we adopted ASU 2014-09, “Revenue from Contracts with Customers,” as modified (ASC 606) using the modified retrospective method. Under this approach, prior period results were not restated to reflect the impact of ASC 606, resulting in limited comparability between 2018 and 2017 operating results.