QUARTERLY FINANCIAL INFORMATION (Unaudited)

12 Months Ended

Dec. 31, 2014

Quarterly Financial Information Disclosure [Abstract]

QUARTERLY FINANCIAL INFORMATION (Unaudited)

QUARTERLY FINANCIAL INFORMATION

(Unaudited)

A summary of our quarterly unaudited results of operations for the years ended December 31, 2014 and 2013 follows:

	2014
	First		Second		Third		Fourth
	(in millions, except per share results)
Total revenues	$	11,712	$	12,222	$	12,238	$	12,328
Income before income taxes	686		646		551		287
Net income	368		344		290		145
Basic earnings per common share	$	2.37	$	2.22	$	1.87	$	0.96
Diluted earnings per common share (1)	$	2.35	$	2.19	$	1.85	$	0.94

	2013
	First		Second		Third		Fourth
	(in millions, except per share results)
Total revenues	$	10,486	$	10,321	$	10,319	$	10,187
Income (loss) before income taxes	730		654		586		(49		)
Net income (loss)	473		420		368		(30		)
Basic earnings (loss) per common share	$	2.97	$	2.66	$	2.34	$	(0.19	)
Diluted earnings (loss) per common share (1)	$	2.95	$	2.63	$	2.31	$	(0.19	)

(1) The calculation of diluted earnings per common share is based on the weighted average shares outstanding during each quarter and, accordingly, the sum may not equal the total for the year. In addition, for 2013, the sum of quarterly amounts does not equal full year results due to the anti-dilutive impact of a loss in the fourth quarter. The fourth quarter of 2013 includes an expense of $243 million ($154 million after tax, or $0.99 per diluted common share) for reserve strengthening associated with our closed block of long-term care insurance policies.