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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Revenues        
Net earned premiums $ 1,853 $ 1,806 $ 5,453 $ 5,185
Net investment income 487 509 1,483 1,529
Net realized investment gains (losses):        
Other-than-temporary impairment losses (3) (5) (9) (9)
Other net realized investment gains (losses) 17 (19) 34 71
Net realized investment gains (losses) 14 (24) 25 62
Non-insurance warranty revenue (Note J) 258 99 744 290
Other revenues 10 8 26 28
Total revenues 2,622 2,398 7,731 7,094
Claims, Benefits and Expenses        
Insurance claims and policyholders’ benefits 1,312 1,480 3,978 4,053
Amortization of deferred acquisition costs 337 309 992 926
Non-insurance warranty expense (Note J) 235 74 676 216
Other operating expenses 302 307 903 875
Interest 34 41 104 124
Total claims, benefits and expenses 2,220 2,211 6,653 6,194
Income before income tax 402 187 1,078 900
Income tax expense (66) (43) (181) (224)
Net income $ 336 $ 144 $ 897 $ 676
Basic earnings per share (in usd per share) $ 1.24 $ 0.53 $ 3.30 $ 2.49
Diluted earnings per share (in usd per share) 1.23 0.53 3.29 2.48
Dividends declared per share (in usd per share) $ 0.35 $ 0.3 $ 2.95 $ 2.8
Weighted Average Outstanding Common Stock and Common Stock Equivalents        
Basic (in shares) 271.6 271.2 271.5 271.1
Diluted (in shares) 272.5 272.1 272.4 272.0