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Quarterly Supplementary Data (Tables)
12 Months Ended
Dec. 31, 2012
Notes To Financial Statements [Abstract]  
Unaudited Quarterly Financial Information

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Dollars in millions except per share data)

 

Quarter

 

 

 

 

1st

 

2nd 

 

3rd 

 

4th 

 

Full year

2012

 

 

 

 

 

 

 

 

 

 

Revenues *

$

986 

$

1,020 

$

1,035 

$

1,070 

$

4,111 

Income before income taxes

 

112 

 

29 

 

152 

 

273 

 

566 

Net income

 

86 

 

32 

 

111 

 

192 

 

421 

Net income per common share—basic

 

0.53 

 

0.20 

 

0.69 

 

1.18 

 

2.59 

Net income per common share—diluted

 

0.53 

 

0.20 

 

0.68 

 

1.17 

 

2.57 

 

 

 

 

 

 

 

 

 

 

 

2011

 

 

 

 

 

 

 

 

 

 

Revenues *

$

929 

$

975 

$

944 

$

955 

$

3,803 

Income (loss) before income taxes

 

75 

 

(99)

 

11 

 

186 

 

173 

Net income (loss)

 

61 

 

(50)

 

19 

 

134 

 

164 

Net income (loss) per common share—basic

 

0.38 

 

(0.31)

 

0.12 

 

0.82 

 

1.01 

Net income (loss) per common share—diluted

 

0.38 

 

(0.31)

 

0.12 

 

0.82 

 

1.01 

 

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. We discuss realized investment gains for the past three years in Item 7, Investments Results of Operations, Page .