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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues        
Net earned premiums $ 1,850 $ 1,824 $ 3,719 $ 3,627
Net investment income 534 515 863 1,086
Net investment gains (losses) 69 (18) (147) 13
Non-insurance warranty revenue 308 285 609 566
Other revenues 5 4 13 13
Total revenues 2,766 2,610 5,057 5,305
Claims, Benefits and Expenses        
Insurance claims and policyholders’ benefits 1,642 1,352 3,067 2,709
Amortization of deferred acquisition costs 342 338 686 680
Non-insurance warranty expense 285 263 566 523
Other operating expenses 284 281 583 564
Interest 31 34 62 68
Total claims, benefits and expenses 2,584 2,268 4,964 4,544
Income before income tax 182 342 93 761
Income tax expense (31) (64) (3) (141)
Net income $ 151 $ 278 $ 90 $ 620
Basic earnings per share (in usd per share) $ 0.56 $ 1.03 $ 0.33 $ 2.28
Diluted earnings per share (in usd per share) $ 0.55 $ 1.02 $ 0.33 $ 2.28
Weighted Average Outstanding Common Stock and Common Stock Equivalents        
Basic (in shares) 271.5 271.6 271.5 271.6
Diluted (in shares) 272.0 272.4 272.3 272.5