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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Revenues    
Management and financial advice fees $ 1,482 $ 1,386
Distribution fees 443 435
Net investment income 391 331
Premiums 339 368
Other revenues 256 254
Total revenues 2,911 2,774
Banking and deposit interest expense 10 9
Total net revenues [1] 2,901 2,765
Expenses    
Distribution expenses 823 770
Interest credited to fixed accounts 162 146
Benefits, claims, losses and settlement expenses 567 482
Amortization of deferred acquisition costs 72 110
Interest and debt expense 50 55
General and administrative expense 752 727
Total expenses 2,426 2,290
Pretax income 475 475
Income tax provision 72 111
Net income (loss) $ 403 $ 364
Basic    
Net income (in dollars per share) $ 2.56 $ 2.11
Diluted    
Net income (in dollars per share) 2.52 2.09
Cash dividends declared per common share (in dollars per share) $ 0.75 $ 0.67
Supplemental Disclosures    
Total other-than-temporary impairment losses on securities $ (1) $ (2)
Portion of loss recognized in other comprehensive income (before taxes) 0 1
Net impairment losses recognized in net investment income $ (1) $ (1)
[1] Includes foreign net revenues of $156 million and $172 million for the three months ended March 31, 2017 and 2016, respectively.