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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenues        
Net earned premiums $ 1,824 $ 1,815 $ 3,627 $ 3,600
Net investment income 515 506 1,086 996
Net investment (losses) gains:        
Other-than-temporary impairment losses (6) 0 (20) (6)
Other net investment (losses) gains (12) (1) 33 17
Net investment (losses) gains (18) (1) 13 11
Non-insurance warranty revenue 285 248 566 486
Other revenues 4 6 13 16
Total revenues 2,610 2,574 5,305 5,109
Claims, Benefits and Expenses        
Insurance claims and policyholders’ benefits 1,352 1,327 2,709 2,666
Amortization of deferred acquisition costs 338 359 680 655
Non-insurance warranty expense 263 225 523 441
Other operating expenses 281 298 564 601
Interest 34 35 68 70
Total claims, benefits and expenses 2,268 2,244 4,544 4,433
Income before income tax 342 330 761 676
Income tax expense (64) (60) (141) (115)
Net income $ 278 $ 270 $ 620 $ 561
Basic earnings per share        
Basic earnings per share (in usd per share) $ 1.03 $ 0.99 $ 2.28 $ 2.07
Diluted earnings per share        
Diluted earnings per share (in usd per share) $ 1.02 $ 0.99 $ 2.28 $ 2.06
Weighted Average Outstanding Common Stock and Common Stock Equivalents        
Basic (in shares) 271.6 271.5 271.6 271.5
Diluted (in shares) 272.4 272.4 272.5 272.4