Quarterly Supplementary Data

12 Months Ended

Dec. 31, 2017

Quarterly Financial Information Disclosure [Abstract]

Quarterly Supplementary Data

Quarterly Supplementary Data

This table includes unaudited quarterly financial information for the years ended December 31, 2017 and 2016:

(Dollars in millions, except per share data)	Quarter
	1st		2nd		3rd		4th		Full year
2017
Revenues	$	1,523	$	1,386	$	1,412	$	1,411	$	5,732
Income before income taxes	276		128		129		197		730
Net income	201		100		102		642		1,045
Net income per common share—basic	1.22		0.61		0.62		3.92		6.36
Net income per common share—diluted	1.21		0.60		0.61		3.88		6.29
2016
Revenues	$	1,364	$	1,371	$	1,402	$	1,312	$	5,449
Income before income taxes	265		166		253		128		812
Net income	188		123		180		100		591
Net income per common share—basic	1.14		0.75		1.09		0.61		3.59
Net income per common share—diluted	1.13		0.74		1.08		0.60		3.55

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.