Annual report pursuant to Section 13 and 15(d)

Selected Quarterly Financial Data

v3.8.0.1
Selected Quarterly Financial Data
12 Months Ended
Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]  
Selected Quarterly Financial Data

15. Selected Quarterly Financial Data (Unaudited)

The following table summarizes our quarterly financial data which, in the opinion of management, reflects all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of our results of operations (Amounts for the individual quarters when aggregated may not agree to the full year due to rounding):

 

     For the Three-Months Ended  
     (in millions, except for  per share data)  
     March 31, 2017     June 30, 2017     Sept. 30, 2017     Dec. 31, 2017  

Total revenue

   $ 23,800     $ 28,275     $ 26,402     $ 27,095  

Total expenses

     20,697       24,159       25,298       25,788  
  

 

 

   

 

 

   

 

 

   

 

 

 

Income before equity method investments

     3,103       4,116       1,104       1,307  

Income (loss) from equity method investments

     4,171       8,377       6,876       2,866  
  

 

 

   

 

 

   

 

 

   

 

 

 

Income before income taxes

     7,274       12,493       7,980       4,173  

Income tax (expense) benefit

     (32     (83     (5     (766
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income (loss)

     7,242       12,410       7,975       3,407  
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income (loss) attributable to controlling stockholders

   $ 7,199     $ 12,340     $ 7,933     $ 3,383  
  

 

 

   

 

 

   

 

 

   

 

 

 

Basic and diluted earnings per common share

   $ 0.14     $ 0.23     $ 0.14     $ 0.06  
  

 

 

   

 

 

   

 

 

   

 

 

 
     For the Three-Months Ended  
     (in millions, except for  per share data)  
     March 31, 2016     June 30, 2016     Sept. 30, 2016     Dec. 31, 2016  

Total revenue

   $ 20,483     $ 21,845     $ 19,008     $ 19,862  

Total expenses

     17,509       19,110       16,951       18,840  
  

 

 

   

 

 

   

 

 

   

 

 

 

Income before equity method investments

     2,974       2,735       2,057       1,022  

Income (loss) from equity method investments

     270       1,076       1,331       3,433  
  

 

 

   

 

 

   

 

 

   

 

 

 

Income before income taxes

     3,244       3,811       3,388       4,455  

Income tax (expense) benefit

     (47     (36     (41     (18
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income (loss)

     3,197       3,775       3,347       4,437  
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income (loss) attributable to controlling stockholders

   $ 3,169     $ 3,747     $ 3,329     $ 4,408  
  

 

 

   

 

 

   

 

 

   

 

 

 

Basic and diluted earnings per common share

   $ 0.07     $ 0.09     $ 0.07     $ 0.09