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Quarterly Financial Information (Unaudited) (Tables)
12 Months Ended
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]  
Schedule of quarterly financial information
 
For the Quarters Ended
 
December 31, 2016
 
September 30, 2016
 
June 30, 2016
 
March 31, 2016
 
(Amounts in millions, except per share data)
Net revenues
$
2,014

 
$
1,568

 
$
1,570

 
$
1,455

Cost of revenues
776

 
529

 
598

 
491

Operating income
425

 
294

 
232

 
461

Net income (1)
254

 
199

 
151

 
363

Basic earnings per share (1)
0.34

 
0.27

 
0.20

 
0.49

Diluted earnings per share (1)
0.33

 
0.26

 
0.20

 
0.48


(1) During the third quarter of 2016, we early adopted an accounting standard which simplifies the accounting for share-based payments. The standard, among other things, requires all excess tax benefits and tax deficiencies to be recorded as an income tax expense or benefit in the consolidated statement of operations (see Note 22). The adoption of the standard impacted our previously reported results for the quarters ended June 30, 2016 and March 31, 2016. As a result of the adoption of this standard, our net income, basic earnings per share, and diluted earnings per share increased by $24 million, $0.03, and $0.03, respectively, for the quarter ended June 30, 2016, and $27 million, $0.04, and $0.03, respectively, for the quarter ended March 31, 2016.

 
For the Quarters Ended
 
December 31, 2015
 
September 30, 2015
 
June 30, 2015
 
March 31, 2015
 
(Amounts in millions, except per share data)
Net revenues
$
1,353

 
$
990

 
$
1,044

 
$
1,278

Cost of revenues
538

 
337

 
297

 
413

Operating income
250

 
196

 
332

 
542

Net income
159

 
127

 
212

 
394

Basic earnings per share
0.22

 
0.17

 
0.29

 
0.54

Diluted earnings per share
0.21

 
0.17

 
0.29

 
0.53