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CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues        
Net investment income $ 287 $ 278 $ 548 $ 655
Premiums, policy and contract charges 365 364 733 711
Other revenues 124 75 247 146
Total revenues 3,511 3,420 7,168 6,775
Banking and deposit interest expense 3 2 5 7
Total net revenues 3,508 3,418 7,163 6,768
Expenses        
Distribution expenses 1,236 1,233 2,533 2,408
Interest credited to fixed accounts 145 124 286 283
Benefits, claims, losses and settlement expenses 82 404 293 1,057
Amortization of deferred acquisition costs 152 63 248 68
Interest and debt expense 44 43 84 85
General and administrative expense 894 830 1,841 1,653
Total expenses 2,553 2,697 5,285 5,554
Pretax income 955 721 1,878 1,214
Income tax provision 199 130 361 186
Net income $ 756 $ 591 $ 1,517 $ 1,028
Earnings per share        
Basic (in dollars per share) $ 6.73 $ 4.99 $ 13.42 $ 8.63
Diluted (in dollars per share) $ 6.61 $ 4.88 $ 13.16 $ 8.45
Management and financial advice fees        
Revenues        
Revenue from contracts with customers $ 2,277 $ 2,251 $ 4,736 $ 4,353
Distribution fees        
Revenues        
Revenue from contracts with customers $ 458 $ 452 $ 904 $ 910