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Condensed Consolidated Statements of Income - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues        
Earned premiums $ 1,593 $ 1,482 $ 3,137 $ 2,938
Investment income, net of expenses 175 166 349 331
Investment gains and losses, net 520 1,060 1,024 (665)
Fee revenues 4 3 7 6
Other revenues 3 3 5 5
Total revenues 2,295 2,714 4,522 2,615
Benefits and Expenses        
Insurance losses and contract holders' benefits 915 1,086 1,918 2,089
Underwriting, acquisition and insurance expenses 490 464 929 920
Interest expense 13 14 26 27
Other operating expenses 5 5 9 10
Total benefits and expenses 1,423 1,569 2,882 3,046
Income (Loss) Before Income Taxes 872 1,145 1,640 (431)
Provision (Benefit) for Income Taxes        
Current 75 23 111 26
Deferred 94 213 206 (140)
Total provision (benefit) for income taxes 169 236 317 (114)
Net Income (Loss) $ 703 $ 909 $ 1,323 $ (317)
Per Common Share        
Net income (loss)—basic $ 4.36 $ 5.65 $ 8.21 $ (1.96)
Net income (loss)—diluted $ 4.31 $ 5.63 $ 8.13 $ (1.96)