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Consolidated Statement of Earnings (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues:        
Property and casualty insurance net earned premiums $ 1,393 $ 1,250 $ 2,695 $ 2,423
Net investment income 168 164 398 352
Realized gains (losses) on securities (93) 43 (108) 120
Realized gain on subsidiaries 0 4 0 4
Income of managed investment entities:        
Investment income 54 44 100 90
Gain (loss) on change in fair value of assets/liabilities (15) 6 (20) 8
Other income 32 20 62 43
Total revenues 1,539 1,531 3,127 3,040
Costs and Expenses:        
Losses and loss adjustment expenses 774 714 1,467 1,381
Commissions and other underwriting expenses 432 390 846 770
Interest charges on borrowed money 23 23 46 47
Expenses of managed investment entities 47 39 86 78
Other expenses 57 77 115 141
Total costs and expenses 1,333 1,243 2,560 2,417
Earnings from continuing operations before income taxes 206 288 567 623
Provision for income taxes 39 48 110 116
Net earnings from continuing operations 167 240 457 507
Net earnings from discontinued operations 0 762 0 914
Net Earnings $ 167 $ 1,002 $ 457 $ 1,421
Earnings per Basic Common Share:        
Basic (USD per share) from continuing operations $ 1.97 $ 2.83 $ 5.37 $ 5.94
Basic (USD per share) from discontinued operations 0 8.95 0 10.69
Basic (USD per share) 1.97 11.78 5.37 16.63
Earnings per Diluted Common Share:        
Diluted (USD per share) from continuing operations 1.96 2.81 5.36 5.90
Diluted (USD per share) from discontinued operations 0 8.89 0 10.61
Diluted (USD per share) $ 1.96 $ 11.70 $ 5.36 $ 16.51
Average number of Common Shares:        
Basic (shares) 85.1 85.0 85.1 85.5
Diluted (shares) 85.3 85.6 85.3 86.1