QUARTERLY FINANCIAL DATA

12 Months Ended

Dec. 31, 2020

(unaudited)


	Three months ended
(in millions except per share amounts)	March 31		June 30		Sept. 30		Dec. 31
2020
Operating revenues	$	4,234	$	1,008	$	1,793	$	2,013
Operating income (loss)	(110)		(1,127)		(1,411)		(1,169)
Income (loss) before income taxes	(144)		(1,239)		(1,542)		(1,331)
Net income (loss)	(94)		(915)		(1,157)		(908)
Net income (loss) per share, basic	(0.18)		(1.63)		(1.96)		(1.54)
Net income (loss) per share, diluted	(0.18)		(1.63)		(1.96)		(1.54)

	March 31		June 30		Sept. 30		Dec. 31
2019
Operating revenues	$	5,149	$	5,909	$	5,639	$	5,729
Operating income	505		968		819		665
Income before income taxes	504		968		819		666
Net income	387		741		659		514		(a)
Net income per share, basic	0.70		1.37		1.24		0.98		(a)
Net income per share, diluted	0.70		1.37		1.23		0.98		(a)

(a) In addition to the ongoing impact of the Boeing 737 MAX aircraft ("MAX") grounding that impacted all four quarters of 2019, fourth quarter 2019 also included the impact of the pre-tax $124 million discretionary, special profitsharing award accrual authorized by the Company's Board of Directors during fourth quarter 2019 for compensation received from Boeing related to the Company's estimated 2019 financial damages related to the grounding of the Boeing 737 MAX. See Note 17 to the Consolidated Financial Statements for further information on the MAX groundings. The impact of this accrual resulted in a decrease to Net income of approximately $97 million and reduced Basic and Diluted net income per share by approximately $.18 for the fourth quarter 2019.