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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenues        
Management and financial advice fees $ 1,691 $ 1,568 $ 3,360 $ 3,055
Distribution fees 465 425 933 866
Net investment income 419 391 815 782
Premiums 357 348 700 687
Other revenues 284 292 592 570
Total revenues 3,216 3,024 6,400 5,960
Banking and deposit interest expense 20 12 36 22
Total net revenues 3,196 3,012 6,364 5,938
Expenses        
Distribution expenses 902 831 1,807 1,654
Interest credited to fixed accounts 180 171 321 333
Benefits, claims, losses and settlement expenses 635 611 1,129 1,178
Amortization of deferred acquisition costs 63 69 155 141
Interest and debt expense 80 52 131 102
General and administrative expense 788 767 1,577 1,544
Total expenses 2,648 2,501 5,120 4,952
Pretax income 548 511 1,244 986
Income tax provision 86 118 188 190
Net income $ 462 $ 393 $ 1,056 $ 796
Basic        
Net income (in dollars per share) $ 3.14 $ 2.53 $ 7.13 $ 5.09
Diluted        
Net income (in dollars per share) 3.10 2.50 7.02 5.01
Cash dividends declared per common share (in dollars per share) $ 0.90 $ 0.83 $ 1.73 $ 1.58
Supplemental Disclosures        
Total other-than-temporary impairment losses on securities $ 0 $ 0 $ 0 $ (1)
Portion of loss recognized in other comprehensive income (before taxes) 0 0 0 0
Net impairment losses recognized in net investment income $ 0 $ 0 $ 0 $ (1)