Impacts to 2017 Results The effects of the adoption of the New Revenue Standard and New Retirement Standard to our consolidated statement of operations for the twelve months ended December 31, 2017 were as follows (in millions): (1) The adjustment to the 2017 income tax provision includes an $823 million special charge to reduce our deferred tax asset associated with loyalty program liabilities as a result of the 2017 Tax Act enacted in December 2017 that reduced the federal corporate income tax rate from 35% to 21%. The effects of the adoption of the New Revenue Standard to our December 31, 2017 consolidated balance sheet were as follows (in millions): 77 As Reported New Revenue Standard As Recast Deferred tax asset $ 427 $ 1,389 $ 1,816 Air traffic liability 3,978 64 4,042 Current loyalty program liability 2,791 330 3,121 Noncurrent loyalty program liability — 5,701 5,701 Total stockholders’ equity (deficit) 3,926 (4,706 ) (780 ) New Revenue Standard New Retirement Standard Year Ended December 31, 2017 As Reported Deferred Revenue Method Ancillary Revenue Reclassifications Gross Versus Net Presentation Reclassifications As Recast Operating revenues: Passenger $ 36,133 $ 311 $ 2,648 $ 39 $ — $ 39,131 Cargo 800 — 42 48 — 890 Other 5,274 — (2,690) 17 — 2,601 Total operating revenues 42,207 311 — 104 — 42,622 Total operating expenses 38,149 — — 104 138 38,391 Operating income 4,058 311 — — (138 ) 4,231 Total nonoperating expense, net (974) — — — 138 (836) Income before income taxes 3,084 311 — — — 3,395 Income tax provision  (1) 1,165 948 — — — 2,113 Net income $ 1,919 $ (637 ) $ — $ — $ — $ 1,282 Diluted earnings per common share $ 3.90 $ 2.61