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Consolidated Statement of Earnings (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Revenues:        
Property and casualty insurance net earned premiums $ 1,173 $ 1,132 $ 3,104 $ 2,817
Life, accident and health net earned premiums 28 27 80 82
Net investment income 425 377 1,217 1,117
Realized gains (losses) on:        
Securities (16) 13 2 44
Subsidiaries 5 0 (157) 0
Income (loss) of managed investment entities:        
Investment income 40 29 112 84
Loss on change in fair value of assets/liabilities (11) (25) (16) (35)
Other income 40 28 177 75
Total revenues 1,684 1,581 4,519 4,184
Costs and Expenses:        
Property and casualty insurance: Losses and loss adjustment expenses 825 784 2,002 1,815
Property and casualty insurance: Commissions and other underwriting expenses 336 302 987 869
Annuity benefits 208 157 543 491
Life, accident and health benefits 31 37 96 119
Annuity and supplemental insurance acquisition expenses 46 46 148 122
Interest charges on borrowed money 18 18 57 53
Expenses of managed investment entities 28 19 80 60
Other expenses 93 73 251 219
Total costs and expenses 1,585 1,436 4,164 3,748
Earnings before income taxes 99 145 355 436
Provision for income taxes 33 54 115 155
Net earnings, including noncontrolling interests 66 91 240 281
Less: Net earnings (loss) attributable to noncontrolling interests 3 (25) 17 (44)
Net Earnings Attributable to Shareholders $ 63 $ 116 $ 223 $ 325
Earnings Attributable to Shareholders per Common Share:        
Basic (USD per share) $ 0.72 $ 1.30 $ 2.54 $ 3.64
Diluted (USD per share) $ 0.71 $ 1.28 $ 2.49 $ 3.56
Average number of Common Shares:        
Basic (shares) 87.5 89.0 87.6 89.4
Diluted (shares) 89.3 90.9 89.4 91.4
Cash dividends per Common Share (USD per share) $ 0.250 $ 0.22 $ 0.75 $ 0.66
Supplemental disclosure of Realized gains on securities:        
Realized gains before impairments $ 19 $ 24 $ 71 $ 57
Losses on securities with impairment (35) (11) (69) (13)
Non-credit portion recognized in other comprehensive income (loss) 0 0 0 0
Impairment charges recognized in earnings (35) (11) (69) (13)
Total realized gains (losses) on securities $ (16) $ 13 $ 2 $ 44