Quarterly Financial Information (Unaudited)

12 Months Ended

Dec. 31, 2017

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information (Unaudited)



	For the Quarters Ended
	December 31, 2017			September 30, 2017		June 30, 2017		March 31, 2017
	(Amounts in millions, except per share data)
Net revenues	$	2,043		$	1,618	$	1,631	$	1,726
Cost of revenues	803			552		561		585
Operating income	221			257		339		493
Net income (loss)	(584		)	188		243		426
Basic earnings (loss) per common share	(0.77		)	0.25		0.32		0.57
Diluted earnings (loss) per common share	(0.77		)	0.25		0.32		0.56



	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 common share (1)	0.34		0.27		0.20		0.49
Diluted earnings per common 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. 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 common share, and diluted earnings per common 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.