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Consolidated Statement of Earnings (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenues:        
Property and casualty insurance net earned premiums $ 1,159 $ 1,173 $ 3,184 $ 3,104
Life, accident and health net earned premiums 6 28 18 80
Net investment income 433 425 1,267 1,217
Realized gains (losses) on:        
Securities 2 (16) (32) 2
Subsidiaries 0 5 2 (157)
Income (loss) of managed investment entities:        
Investment income 48 40 141 112
Gain (loss) on change in fair value of assets/liabilities 11 (11) 9 (16)
Other income 46 43 172 185
Total revenues 1,705 1,687 4,761 4,527
Costs and Expenses:        
Property and casualty insurance: Losses and loss adjustment expenses 765 825 2,033 2,002
Property and casualty insurance: Commissions and other underwriting expenses 356 336 1,038 987
Annuity benefits 189 208 640 543
Life, accident and health benefits 8 31 26 96
Annuity and supplemental insurance acquisition expenses 54 49 131 156
Interest charges on borrowed money 19 18 56 58
Expenses of managed investment entities 38 28 109 80
Other expenses 98 93 258 250
Total costs and expenses 1,527 1,588 4,291 4,172
Earnings before income taxes 178 99 470 355
Provision for income taxes 65 33 190 115
Net earnings, including noncontrolling interests 113 66 280 240
Less: Net earnings attributable to noncontrolling interests 4 3 16 17
Net Earnings Attributable to Shareholders $ 109 $ 63 $ 264 $ 223
Earnings Attributable to Shareholders per Common Share:        
Basic (USD per share) $ 1.25 $ 0.72 $ 3.04 $ 2.54
Diluted (USD per share) $ 1.23 $ 0.71 $ 2.98 $ 2.49
Average number of Common Shares:        
Basic (shares) 86.9 87.5 86.8 87.6
Diluted (shares) 88.5 89.3 88.4 89.4
Cash dividends per Common Share (USD per share) $ 0.28 $ 0.25 $ 0.84 $ 0.75
Supplemental disclosure of Realized gains on securities:        
Realized gains before impairments $ 18 $ 19 $ 75 $ 71
Losses on securities with impairment (16) (35) (106) (69)
Non-credit portion recognized in other comprehensive income (loss) 0 0 (1) 0
Impairment charges recognized in earnings (16) (35) (107) (69)
Total realized gains (losses) on securities $ 2 $ (16) $ (32) $ 2