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Quarterly Financial Data
 12 Months Ended
Dec. 31, 2012
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Data
16.         Quarterly Financial Data (Unaudited)
Unaudited summarized financial data by quarter for 2012 and 2011 (in millions, except per share amounts):


 
 
First
    Quarter     
 
Second
    Quarter    
 
Third
    Quarter    
 
Fourth
    Quarter    
2012
 
 
 
 
 
 
 
 
Operating revenues
 
$
6,031

 
$
6,447

 
$
6,422

 
$
5,925

Operating income (loss)
 
(101
)
 
122

 
27

 
(7
)
Net earnings (loss)
 
(1,676
)
 
(264
)
 
(257
)
 
271

2011
 
 
 
 
 
 
 
 
Operating revenues
 
$
5,527

 
$
6,109

 
$
6,371

 
$
5,950

Operating income (loss)
 
(266
)
 
(116
)
 
10

 
(798
)
Net earnings (loss)
 
(431
)
 
(284
)
 
(153
)
 
(1,097
)
The Company's fourth quarter 2012 performance reflects restructuring charges and special items consisting of $360 million of severance related charges and write off of lease hold improvements on aircraft and at airport facilities that were rejected during the Chapter 11 process and a $280 million benefit from a settlement of a commercial dispute. The second and third quarters of 2012 reflect $106 million and $211 million of such items, respectively.
The Company’s fourth quarter 2011 performance reflects restructuring charges and special items consisting of $768 million, including $725 million related to the impairment of certain aircraft and gates and a $43 million revenue reduction as a result of a decrease in the breakage assumption related to the AAdvantage frequent flier liability.
The first quarter 2011 results include a loss of $31 million in non-recurring non-cash charges related to certain sale/leaseback transactions.