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Consolidated Statement of Earnings (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues:        
Property and casualty insurance net earned premiums $ 1,767 $ 1,529 $ 4,462 $ 3,952
Net investment income 151 169 549 521
Realized gains (losses) on:        
Securities (35) (17) (143) 103
Subsidiaries 0 0 0 4
Income of managed investment entities:        
Investment income 75 45 175 135
Gain (loss) on change in fair value of assets/liabilities (5) 1 (25) 9
Other income 31 27 93 70
Total revenues 1,984 1,754 5,111 4,794
Property and casualty insurance:        
Losses and loss adjustment expenses 1,176 954 2,643 2,335
Commissions and other underwriting expenses 445 417 1,291 1,187
Interest charges on borrowed money 19 24 65 71
Expenses of managed investment entities 62 37 148 115
Other expenses 72 55 187 196
Total costs and expenses 1,774 1,487 4,334 3,904
Earnings from continuing operations before income taxes 210 267 777 890
Provision for income taxes 45 48 155 164
Net earnings from continuing operations 165 219 622 726
Net earnings from discontinued operations 0 0 0 914
Net Earnings $ 165 $ 219 $ 622 $ 1,640
Earnings per Basic Common Share:        
Basic (USD per share) from continuing operations $ 1.93 $ 2.57 $ 7.30 $ 8.52
Basic (USD per share) from discontinued operations 0 0 0 10.72
Basic (USD per share) 1.93 2.57 7.30 19.24
Earnings per Diluted Common Share:        
Diluted (USD per share) from continuing operations 1.93 2.56 7.29 8.45
Diluted (USD per share) from discontinued operations 0 0 0 10.66
Diluted (USD per share) $ 1.93 $ 2.56 $ 7.29 $ 19.11
Average number of Common Shares:        
Basic (shares) 85.2 84.8 85.1 85.2
Diluted (shares) 85.4 85.2 85.3 85.8