Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2012

Selected Quarterly Financial Data (Unaudited) disclosure

Selected Quarterly Financial Data (Unaudited) disclosure [Text Block]

19. SELECTED QUARTERLY FINANCIAL DATA (Unaudited)

2012 (in millions, except per share amounts)	First Quarter		Second Quarter		Third Quarter		Fourth Quarter		Total
Total revenues	$	6,392	$	6,359	$	6,512	$	6,477	$	25,740
Total expenses		5,315		5,751		5,342		6,166		22,574
Income before income taxes		1,077		608		1,170		311		3,166
Income tax expense		271		109		306		7		693
Net income	$	806	$	499	$	864	$	304	$	2,473
Net income per share(1):
Basic	$	2.04	$	1.27	$	2.23	$	0.79	$	6.35
Diluted		2.02		1.26		2.21		0.78		6.30

2011 (in millions, except per share amounts)	First Quarter		Second Quarter			Third Quarter			Fourth Quarter		Total
Total revenues	$	6,278	$	6,388		$	6,407		$	6,373	$	25,446
Total expenses		5,309		7,115			6,075			5,595		24,094
Income (loss) before income taxes		969		(727	)		332			778		1,352
Income tax expense (benefit)		130		(363	)		(1	)		160		(74	)
Net income (loss)	$	839	$	(364	)	$	333		$	618	$	1,426
Net income (loss) per share(1):
Basic	$	1.94	$	(0.88	)	$	0.80		$	1.52	$	3.40
Diluted		1.92		(0.88	)		0.79			1.51		3.36

(1)

Due to the averaging of shares, quarterly earnings per share may not add to the total for the full year.