Quarterly Supplementary Data

12 Months Ended

Dec. 31, 2015

Quarterly Financial Information Disclosure [Abstract]

Quarterly Supplementary Data

Quarterly Supplementary Data

This table includes unaudited quarterly financial information for the years ended December 31, 2015 and 2014:

(Dollars in millions except per share data)	Quarter
	1st		2nd		3rd		4th		Full year
2015
Revenues	$	1,285	$	1,316	$	1,278	$	1,263	$	5,142
Income before income taxes	174		248		243		216		881
Net income	128		176		174		156		634
Net income per common share—basic	0.78		1.07		1.06		0.95		3.87
Net income per common share—diluted	0.77		1.06		1.05		0.94		3.83
2014
Revenues	$	1,189	$	1,214	$	1,280	$	1,262	$	4,945
Income before income taxes	119		107		259		236		721
Net income	91		84		183		167		525
Net income per common share—basic	0.56		0.51		1.12		1.03		3.21
Net income per common share—diluted	0.55		0.51		1.11		1.02		3.18

Note: The sum of the quarterly reported per share amounts may not equal the full year as each is computed independently. Revenues including realized investment gains and losses, which are integral to our financial results over the long term, may cause this value to fluctuate substantially because we have substantial discretion in the timing of investment sales. Also, applicable accounting standards require us to recognize gains and losses from certain changes in fair values of securities and embedded derivatives without actual realization of those gains and losses.