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CONSOLIDATED STATEMENTS OF OPERATIONS Consolidated Statement of Operations - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Revenues      
Net investment income $ 1,251 $ 1,463 $ 1,596
Premiums 1,395 2,224 2,467
Other revenues 283 269 208
Gain on disposal of business 0 213 0
Total revenues 11,958 13,103 12,924
Banking and deposit interest expense 59 136 89
Total net revenues 11,899 12,967 12,835
Expenses      
Distribution expenses 4,059 3,810 3,637
Interest credited to fixed accounts 644 669 674
Benefits, claims, losses and settlement expenses 1,806 2,576 2,302
Amortization of deferred acquisition costs 277 179 322
Interest and debt expense 162 214 245
General and administrative expense 3,120 3,287 3,171
Total expenses 10,068 10,735 10,351
Pretax income 1,831 2,232 2,484
Income tax provision 297 339 386
Net income $ 1,534 $ 1,893 $ 2,098
Earnings Per Share, Basic:      
Net income (in dollars per basic share) $ 12.39 $ 14.12 $ 14.41
Earnings Per Share, Diluted:      
Net income (in dollars per diluted share) $ 12.20 $ 13.92 $ 14.20
Management and financial advice fees [Member]      
Revenues      
Revenue from Contract with Customer, Including Assessed Tax $ 7,368 $ 7,015 $ 6,776
Distribution fees [Member]      
Revenues      
Revenue from Contract with Customer, Including Assessed Tax $ 1,661 $ 1,919 $ 1,877