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Consolidated Statement of Earnings - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenues:      
Property and casualty insurance net earned premiums $ 5,404 $ 5,099 $ 5,185
Net investment income 730 461 532
Realized gains (losses) on:      
Securities 110 (75) 155
Subsidiaries 4 23 0
Income of managed investment entities:      
Investment income 181 201 269
Gain (loss) on change in fair value of assets/liabilities 10 (20) (14)
Other income 113 80 86
Total revenues 6,552 5,769 6,213
Costs and Expenses:      
Losses and loss adjustment expenses 3,157 3,271 3,271
Commissions and other underwriting expenses 1,547 1,625 1,725
Interest charges on borrowed money 94 88 68
Expenses of managed investment entities 155 167 239
Other expenses 264 279 276
Total costs and expenses 5,217 5,430 5,579
Earnings from continuing operations before income taxes 1,335 339 634
Provision for income taxes 254 25 143
Net earnings from continuing operations, including noncontrolling interests 1,081 314 491
Net earnings from discontinued operations 914 407 378
Net earnings, including noncontrolling interests 1,995 721 869
Less: Net earnings (loss) from continuing operations attributable to noncontrolling interests 0 (11) (28)
Net Earnings Attributable to Shareholders $ 1,995 $ 732 $ 897
Earnings Attributable to Shareholders per Basic Common Share from:      
Basic (USD per share) from continuing operations $ 12.70 $ 3.66 $ 5.77
Basic (USD per share) from discontinued operations 10.74 4.59 4.21
Basic (USD per share) 23.44 8.25 9.98
Earnings Attributable to Shareholders per Diluted Common Share:      
Diluted (USD per share) from continuing operations 12.62 3.63 5.70
Diluted (USD per share) from discontinued operations 10.68 4.57 4.15
Diluted (USD per share) $ 23.30 $ 8.20 $ 9.85
Average number of Common Shares:      
Basic (shares) 85.1 88.7 89.9
Diluted (shares) 85.6 89.2 91.0