| Selected Quarterly Financial Data (Unaudited) |
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):
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For the Three-Months Ended |
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(in millions, except for per share data) |
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March 31, 2018 |
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June 30, 2018 |
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Sept. 30, 2018 |
|
Dec. 31, 2018 |
Total revenue |
$ |
27,908 |
|
|
$ |
35,826 |
|
|
$ |
34,883 |
|
|
$ |
39,192 |
|
Total expenses |
26,833 |
|
|
28,903 |
|
|
29,041 |
|
|
31,251 |
|
Income before equity method investments |
1,075 |
|
|
6,923 |
|
|
5,842 |
|
|
7,941 |
|
Income (loss) from equity method investments |
(2,285 |
) |
|
10,583 |
|
|
11,671 |
|
|
2,192 |
|
Income (loss) before income taxes |
(1,210 |
) |
|
17,506 |
|
|
17,513 |
|
|
10,133 |
|
Income tax (expense) benefit |
(18 |
) |
|
(153 |
) |
|
(939 |
) |
|
(1,034 |
) |
Net income (loss) |
(1,228 |
) |
|
17,353 |
|
|
16,574 |
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|
9,099 |
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Net income (loss) attributable to controlling stockholders |
$ |
(1,223 |
) |
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$ |
17,262 |
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$ |
16,483 |
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$ |
9,055 |
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Basic and diluted earnings (loss) per common share |
$ |
(0.03 |
) |
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$ |
0.32 |
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$ |
0.30 |
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$ |
0.16 |
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For the Three-Months Ended |
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(in millions, except for per share data) |
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March 31, 2017 |
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June 30, 2017 |
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Sept. 30, 2017 |
|
Dec. 31, 2017 |
Total revenue |
$ |
23,800 |
|
|
$ |
28,275 |
|
|
$ |
26,402 |
|
|
$ |
27,095 |
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Total expenses |
20,697 |
|
|
24,159 |
|
|
25,298 |
|
|
25,788 |
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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 |
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Income (loss) 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 |
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|
3,407 |
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Net income (loss) attributable to controlling stockholders |
$ |
7,199 |
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$ |
12,340 |
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$ |
7,933 |
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$ |
3,383 |
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Basic and diluted earnings (loss) per common share |
$ |
0.14 |
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$ |
0.23 |
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$ |
0.14 |
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$ |
0.06 |
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