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Quarterly Financial Data (Unaudited) (Tables)
 12 Months Ended
Dec. 31, 2020
Quarterly Financial Data [Abstract]  
Schedule of quarterly financial information
The following tables present unaudited quarterly financial data.
2020
(In millions, except per share data)FirstSecondThirdFourthFull Year
Revenues$2,291 $2,766 $2,820 $2,931 $10,808 
Net income (loss) (1)(2)(3)
(61)151 213 387 690 
Basic earnings (loss) per share (5)
(0.23)0.56 0.79 1.42 2.54 
Diluted earnings (loss) per share (5)
$(0.23)$0.55 $0.79 $1.42 $2.53 
2019
(In millions, except per share data)FirstSecondThirdFourthFull Year
Revenues$2,695 $2,610 $2,685 $2,777 $10,767 
Net income (loss) (4)
342 278 107 273 1,000 
Basic earnings (loss) per share (5)
1.26 1.03 0.39 1.00 3.68 
Diluted earnings (loss) per share (5)
$1.25 $1.02 $0.39 $1.00 $3.67 
(1)    Net income (loss) in the first quarter of 2020 included pretax net investment losses of $216 million and a pretax loss on limited partnership and common stock investments of $125 million.
(2)    Net income (loss) in the second quarter of 2020 included pretax net catastrophe losses of $301 million, including $182 million related to the COVID-19 pandemic.
(3)    Net income (loss) in the third quarter of 2020 included pretax net catastrophe losses of $160 million and a $74 million pretax charge related to recognition of an active life reserve premium deficiency as a result of the third quarter 2020 GPV. Catastrophe losses were driven by severe weather related events, primarily Hurricanes Laura, Isaias and Sally, and the Midwest derecho.
(4)    Net income (loss) in the third quarter of 2019 included a $216 million pretax charge related to recognition of an active life reserve premium deficiency as a result of the third quarter 2019 GPV.
(5)    Earnings (loss) per share (EPS) in each quarter is computed using the weighted average number of shares outstanding during that quarter, while EPS for the full year is computed using the weighted average number of shares outstanding during the year. Thus, the sum of the four quarters EPS may not equal the full year EPS.