Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Data (Unaudited)

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)

The unaudited quarterly financial data included as supplementary data reflects all adjustments that are, in the opinion of management, necessary for a fair statement of the results for the interim periods presented.

	Three Months Ended
	March 31				June 30				September 30				December 31
In millions except per share amounts	2018		2017		2018		2017		2018		2017		2018		2017
Operating revenue	$	3,744	$	3,471	$	3,831	$	3,599	$	3,613	$	3,615	$	3,580	$	3,629
Cost of revenue	2,181		2,003		2,231		2,087		2,096		2,092		2,096		2,124
Operating income	903		807		932		872		889		960		860		846
Net income (loss)	652		536		666		587		638		640		607		(76		)
Net income (loss) per share:
Basic	1.92		1.55		1.98		1.70		1.91		1.86		1.84		(0.22		)
Diluted	1.90		1.54		1.97		1.69		1.90		1.85		1.83		(0.22		)

In the fourth quarter of 2017, the Company recorded a one-time additional income tax expense of $658 million, or $1.92 per diluted share, related to the enactment of the United States "Tax Cuts and Jobs Act." Refer to Note 6. Income Taxes for further information.

In the second quarter of 2017, the Company entered into a $95 million confidential settlement agreement to resolve a litigation matter. Based on the terms of the agreement, the Company received the settlement within 120 days of the execution of the agreement. The receipt of the settlement resulted in a favorable pre-tax impact of $15 million in the second quarter of 2017 and $80 million in the third quarter of 2017, which was included in operating income.