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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues        
Net earned premiums $ 1,953 $ 1,890 $ 5,672 $ 5,517
Net investment income 517 487 1,380 1,573
Net investment gains (losses) 27 7 (120) 20
Non-insurance warranty revenue 317 292 926 858
Other revenues 6 9 19 22
Total revenues 2,820 2,685 7,877 7,990
Claims, Benefits and Expenses        
Insurance claims and policyholders’ benefits 1,616 1,614 4,683 4,323
Amortization of deferred acquisition costs 360 345 1,046 1,025
Non-insurance warranty expense 293 278 859 801
Other operating expenses 269 289 852 853
Interest 32 32 94 100
Total claims, benefits and expenses 2,570 2,558 7,534 7,102
Income before income tax 250 127 343 888
Income tax expense (37) (20) (40) (161)
Net income $ 213 $ 107 $ 303 $ 727
Basic earnings per share (in usd per share) $ 0.79 $ 0.39 $ 1.12 $ 2.68
Diluted earnings per share (in usd per share) $ 0.79 $ 0.39 $ 1.11 $ 2.67
Weighted Average Outstanding Common Stock and Common Stock Equivalents        
Basic (in shares) 271.7 271.6 271.6 271.6
Diluted (in shares) 272.3 272.6 272.3 272.5