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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Revenues    
Net investment income $ 377 $ 328
Premiums, policy and contract charges 347 395
Other revenues 71 69
Total revenues 3,355 3,026
Banking and deposit interest expense 5 25
Total net revenues 3,350 3,001
Expenses    
Distribution expenses 1,175 995
Interest credited to fixed accounts 159 91
Benefits, claims, losses and settlement expenses 653 (1,747)
Amortization of deferred acquisition costs 5 512
Interest and debt expense 42 46
General and administrative expense 823 753
Total expenses 2,857 650
Pretax income 493 2,351
Income tax provision 56 315
Net income $ 437 $ 2,036
Basic    
Net income (in dollars per share) $ 3.65 $ 16.11
Diluted    
Net income (in dollars per share) $ 3.58 $ 15.88
Management and financial advice fees [Member]    
Revenues    
Revenue from contracts with customers $ 2,102 $ 1,770
Distribution fees [Member]    
Revenues    
Revenue from contracts with customers $ 458 $ 464