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Consolidated Statement of Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenues        
Premiums $ 6,695 $ 6,351 $ 13,232 $ 12,534
Net investment income 595 598 1,198 1,208
Fee income 112 116 215 229
Net realized investment gains [1] 36 80 25 85
Other revenues 39 39 93 70
Total revenues 7,477 7,184 14,763 14,126
Claims and expenses        
Claims and claim adjustment expenses 4,562 4,225 8,858 8,319
Amortization of deferred acquisition costs 1,081 1,032 2,142 2,035
General and administrative expenses 1,113 1,045 2,175 2,041
Interest expense 90 92 179 181
Total claims and expenses 6,846 6,394 13,354 12,576
Income before income taxes 631 790 1,409 1,550
Income tax expense 107 195 216 338
Net income $ 524 $ 595 $ 1,193 $ 1,212
Net income per share        
Basic (in dollars per share) $ 1.93 $ 2.13 $ 4.39 $ 4.32
Diluted (in dollars per share) $ 1.92 $ 2.11 $ 4.35 $ 4.28
Weighted average number of common shares outstanding        
Basic (in shares) 268.7 277.5 269.8 278.6
Diluted (in shares) 271.1 280.0 272.5 281.2
Cash dividends declared per common share (in dollars per share) $ 0.77 $ 0.72 $ 1.49 $ 1.39
[1] Total other-than-temporary impairment (OTTI) losses were $(1) million and $(5) million for the three months ended June 30, 2018 and 2017, respectively, and $(1) million and $(6) million for the six months ended June 30, 2018 and 2017, respectively. Of total OTTI, credit losses of $(1) million and $(5) million for the three months ended June 30, 2018 and 2017, respectively, and $(1) million and $(7) million for the six months ended June 30, 2018 and 2017, respectively, were recognized in net realized investment gains. In addition, unrealized gains (losses) from other changes in total OTTI of $0 million for each of the three months ended June 30, 2018 and 2017, respectively, and $0 million and $1 million for the six months ended June 30, 2018 and 2017, respectively, were recognized in other comprehensive income (loss) as part of changes in net unrealized gains (losses) on investment securities having credit losses recognized in the consolidated statement of income.