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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Revenues        
Management and financial advice fees $ 1,739 $ 1,639 $ 5,099 $ 4,694
Distribution fees 470 435 1,403 1,301
Net investment income 386 372 1,201 1,154
Premiums 363 348 1,063 1,035
Other revenues 358 232 950 802
Total revenues 3,316 3,026 9,716 8,986
Banking and deposit interest expense 24 12 60 34
Total net revenues 3,292 3,014 9,656 8,952
Expenses        
Distribution expenses 920 850 2,727 2,504
Interest credited to fixed accounts 178 176 499 509
Benefits, claims, losses and settlement expenses 729 474 1,858 1,652
Amortization of deferred acquisition costs 25 48 180 189
Interest and debt expense 50 52 181 154
General and administrative expense 802 781 2,379 2,325
Total expenses 2,704 2,381 7,824 7,333
Pretax income 588 633 1,832 1,619
Income tax provision 85 126 273 316
Net income $ 503 $ 507 $ 1,559 $ 1,303
Basic        
Net income (in dollars per share) $ 3.48 $ 3.31 $ 10.61 $ 8.40
Diluted        
Net income (in dollars per share) $ 3.43 $ 3.26 $ 10.45 $ 8.27
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)