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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues        
Net earned premiums $ 2,155 $ 2,035 $ 4,214 $ 3,997
Net investment income 432 591 880 1,095
Net investment (losses) gains (59) 38 (70) 95
Non-insurance warranty revenue 392 359 774 697
Other revenues 6 6 13 11
Total revenues 2,926 3,029 5,811 5,895
Claims, Benefits and Expenses        
Insurance claims and policyholders’ benefits 1,583 1,546 3,038 3,052
Amortization of deferred acquisition costs 374 357 718 716
Non-insurance warranty expense 367 332 721 643
Other operating expenses 329 303 655 587
Interest 28 29 56 57
Total claims, benefits and expenses 2,681 2,567 5,188 5,055
Income before income tax 245 462 623 840
Income tax expense (40) (94) (105) (160)
Net income $ 205 $ 368 $ 518 $ 680
Basic earnings per share (in usd per share) $ 0.75 $ 1.35 $ 1.91 $ 2.50
Diluted earnings per share (in usd per share) $ 0.75 $ 1.35 $ 1.90 $ 2.49
Weighted Average Outstanding Common Stock and Common Stock Equivalents        
Basic (in shares) 271.7 271.9 271.8 271.9
Diluted (in shares) 272.6 272.8 272.7 272.9