Quarterly Financial Data (Unaudited) FirstQuarter SecondQuarter ThirdQuarter FourthQuarter Total (Dollars in millions, except per share amounts)2015 Operating revenues$4,451 4,419 4,554 4,476 17,900Operating income649 549 656 751 2,605Net income192 143 205 338 878Basic earnings per common share0.34 0.26 0.37 0.62 1.58Diluted earnings per common share0.34 0.26 0.37 0.62 1.582014 Operating revenues$4,538 4,541 4,514 4,438 18,031Operating income653 655 619 483 2,410Net income203 193 188 188 772Basic earnings per common share0.35 0.34 0.33 0.33 1.36Diluted earnings per common share0.35 0.34 0.33 0.33 1.36During the third quarter of 2015, we recognized an incremental $158 million of revenue associated with the FCC's CAF Phase 2 support program, and an additional incremental $57 million in the fourth quarter of 2015. During the fourth quarter of 2015, we also recognized a tax benefit of approximately $34 million related to affiliate debt rationalization, research and development tax credits of $28 million for 2011 through 2015, and a $16 million tax decrease due to changes in state taxes caused by apportionment changes, state tax rate changes and the changes in the expected utilization of net operating losses ("NOLs").During the fourth quarter of 2014, we recognized a $60 million tax benefit associated with a deduction for the tax basis for worthless stock in a wholly-owned foreign subsidiary as a result of developments in bankruptcy proceedings involving its sole asset that occurred in the first quarter of 2014. During the fourth quarter of 2014, we also recognized a pension settlement charge of $63 million.
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