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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenues        
Net investment income $ 356 $ 386 $ 1,121 $ 1,201
Premiums 374 363 1,121 1,063
Other revenues 347 358 941 950
Total revenues 3,351 3,316 9,786 9,716
Banking and deposit interest expense 34 24 106 60
Total net revenues 3,317 3,292 9,680 9,656
Expenses        
Distribution expenses 971 920 2,819 2,727
Interest credited to fixed accounts 127 178 517 499
Benefits, claims, losses and settlement expenses 594 729 1,848 1,858
Amortization of deferred acquisition costs 112 25 186 180
Interest and debt expense 52 50 164 181
General and administrative expense 820 802 2,448 2,379
Total expenses 2,676 2,704 7,982 7,824
Pretax income 641 588 1,698 1,832
Income tax provision 98 85 268 273
Net income $ 543 $ 503 $ 1,430 $ 1,559
Basic        
Net income (in dollars per share) $ 4.09 $ 3.48 $ 10.53 $ 10.61
Diluted        
Net income (in dollars per share) $ 4.04 $ 3.43 $ 10.40 $ 10.45
Supplemental Disclosures        
Total other-than-temporary impairment losses on securities $ (15) $ 0 $ (27) $ 0
Portion of loss recognized in other comprehensive income (before taxes) 0 0 7 0
Net impairment losses recognized in net investment income (15) 0 (20) 0
Management and financial advice fees [Member]        
Revenues        
Revenue from Contract with Customer, Including Assessed Tax 1,794 1,739 5,153 5,099
Distribution fees [Member]        
Revenues        
Revenue from Contract with Customer, Including Assessed Tax $ 480 $ 470 $ 1,450 $ 1,403