Quarterly Financial Data (unaudited) (Tables)

12 Months Ended

Dec. 31, 2017

Quarterly Financial Information Disclosure [Abstract]

Schedule of quarterly financial data

Quarterly financial data for 2017 and 2016 was as follows:

(In millions, except per share data)
	First Quarter		Second Quarter			Third Quarter		Fourth Quarter		Full Year
2017
Total revenue	$	1,394	$	1,386		$	1,400	$	1,516	$	5,696
Cost of processing and services	570		573			572		576		2,291
Cost of product	182		175			174		202		733
Selling, general and administrative expenses	277		276			284		313		1,150
Gain on sale of business	—		(10		)	—		—		(10		)
Total expenses	1,029		1,014			1,030		1,091		4,164
Operating income	365		372			370		425		1,532
Income from continuing operations (1)	247		221			232		532		1,232
Net income (1)	247		221			232		546		1,246
Comprehensive income	256		229			236		547		1,268
Net income per share - continuing operations: (2)
Basic	$	1.15	$	1.05		$	1.10	$	2.56	$	5.84
Diluted	$	1.13	$	1.02		$	1.08	$	2.50	$	5.71
2016
Total revenue	$	1,331	$	1,363		$	1,380	$	1,431	$	5,505
Cost of processing and services	553		547			551		561		2,212
Cost of product	181		180			186		200		747
Selling, general and administrative expenses	258		274			274		295		1,101
Total expenses	992		1,001			1,011		1,056		4,060
Operating income	339		362			369		375		1,445
Income from continuing operations (3)	289		212			214		215		930
Net income (3)	289		212			214		215		930
Comprehensive income	294		207			219		208		928
Net income per share - continuing operations: (2)
Basic	$	1.30	$	0.95		$	0.98	$	0.99	$	4.22
Diluted	$	1.27	$	0.94		$	0.96	$	0.98	$	4.15

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(1) During the fourth quarter of 2017, the Company recognized discrete income tax benefits of $275 million associated with the Tax Cuts and Jobs Act enacted in December 2017. Refer to Note 6 for more information regarding the Company’s income taxes.

(2) Net income per share - continuing operations in each period is calculated using actual, unrounded amounts.

(3) During the first quarter of 2016, the Company recognized $146 million associated with its pre-tax share of a net gain on the sale of a business interest by StoneRiver, with related tax expense of $54 million. Refer to Note 4 for more information regarding the Company’s investment in StoneRiver.