XML 12 R2.htm IDEA: XBRL DOCUMENT v3.21.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues        
Net investment income $ 773 $ 300 $ 1,428 $ 933
Premiums, policy and contract charges (805) 352 (94) 1,019
Other revenues 113 68 259 213
Total revenues 2,906 3,013 9,681 8,769
Banking and deposit interest expense 3 10 10 53
Total net revenues 2,903 3,003 9,671 8,716
Expenses        
Distribution expenses 1,285 1,028 3,693 2,963
Interest credited to fixed accounts 172 170 455 523
Policyholder Benefits and Claims Incurred, Net (719) 1,104 338 824
Amortization of deferred acquisition costs 9 85 77 349
Interest and debt expense 64 37 149 124
General and administrative expense 822 763 2,475 2,292
Total expenses 1,633 3,187 7,187 7,075
Pretax income (loss) 1,270 (184) 2,484 1,641
Income tax provision (benefit) 239 (44) 425 284
Net income (loss) $ 1,031 $ (140) $ 2,059 $ 1,357
Basic        
Net income (in dollars per share) $ 8.86 $ (1.14) $ 17.42 $ 10.87
Diluted        
Net income (in dollars per share) $ 8.65 $ (1.14) [1] $ 17.03 $ 10.73
Management and financial advice fees        
Revenues        
Revenue from contracts with customers $ 2,367 $ 1,893 $ 6,720 $ 5,365
Distribution fees        
Revenues        
Revenue from contracts with customers $ 458 $ 400 $ 1,368 $ 1,239
[1] Diluted shares used in this calculation represent basic shares due to the net loss. Using actual diluted shares would result in anti-dilution.