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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenues        
Net investment income $ 368 $ 419 $ 765 $ 815
Premiums 376 357 747 700
Other revenues 316 284 594 592
Total revenues 3,282 3,216 6,435 6,400
Banking and deposit interest expense 37 20 72 36
Total net revenues 3,245 3,196 6,363 6,364
Expenses        
Distribution expenses 948 902 1,848 1,807
Interest credited to fixed accounts 186 180 390 321
Benefits, claims, losses and settlement expenses 584 635 1,254 1,129
Amortization of deferred acquisition costs 58 63 74 155
Interest and debt expense 59 80 112 131
General and administrative expense 823 788 1,628 1,577
Total expenses 2,658 2,648 5,306 5,120
Pretax income 587 548 1,057 1,244
Income tax provision 95 86 170 188
Net income $ 492 $ 462 $ 887 $ 1,056
Basic        
Net income (in dollars per share) $ 3.61 $ 3.14 $ 6.46 $ 7.13
Diluted        
Net income (in dollars per share) $ 3.57 $ 3.10 $ 6.38 $ 7.02
Supplemental Disclosures        
Total other-than-temporary impairment losses on securities $ 0 $ 0 $ (12) $ 0
Portion of loss recognized in other comprehensive income (before taxes) 0 0 7 0
Net impairment losses recognized in net investment income 0 0 (5) 0
Management and financial advice fees [Member]        
Revenues        
Revenue from Contract with Customer, Including Assessed Tax 1,732 1,691 3,359 3,360
Distribution fees [Member]        
Revenues        
Revenue from Contract with Customer, Including Assessed Tax $ 490 $ 465 $ 970 $ 933