XML 115 R91.htm IDEA: XBRL DOCUMENT v3.3.1.900
Income Taxes (details) - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
Dec. 31, 2014
Sep. 30, 2014
Jun. 30, 2014
Mar. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Income Taxes disclosure                      
Current income tax expense included in consolidated statement of income, federal                 $ 1,144 $ 1,216 $ 1,059
Current income tax expense included in consolidated statement of income, foreign                 29 28 30
Current income tax expense included in consolidated statement of income, state                 9 10 6
Total current tax expense                 1,182 1,254 1,095
Deferred income tax expense included in consolidated statement of income, federal                 117 121 167
Deferred income tax expense included in consolidated statement of income, foreign                 2 22 10
Total deferred tax expense                 119 143 177
Total income tax expense included in consolidated statement of income $ 343 $ 379 $ 264 $ 315 $ 422 $ 339 $ 218 $ 418 1,301 1,397 1,272
Expense (benefit) relating to share-based compensation, the changes in unrealized gain on investments, unrealized loss on foreign exchange and other items in other comprehensive income                 (448) 68 (822)
Total income tax expense included in consolidated financial statements                 853 1,465 450
U.S. income before income taxes                 4,621 4,899 4,804
Foreign income before income taxes                 119 190 141
Income before income taxes 1,209 $ 1,307 $ 1,076 $ 1,148 1,460 $ 1,258 $ 901 $ 1,470 $ 4,740 $ 5,089 $ 4,945
Statutory tax rate (percent)                 35.00% 35.00% 35.00%
Expected federal income tax expense                 $ 1,659 $ 1,781 $ 1,731
Tax effect of nontaxable investment income                 (345) (379) (409)
Tax effect of other, net                 $ (13) $ (5) $ (50)
Effective tax rate (percent)                 27.00% 27.00% 26.00%
Income taxes paid                 $ 1,207 $ 1,147 $ 1,057
Current income tax payable 50       139       50 139  
Deferred tax assets, claims and claim adjustment expense reserves 691       768       691 768  
Deferred tax assets, unearned premium reserves 731       709       731 709  
Deferred tax assets, compensation-related liabilities 326       345       326 345  
Deferred tax assets, other 320       346       320 346  
Total gross deferred tax assets 2,068       2,168       2,068 2,168  
Deferred tax liabilities, deferred acquisition costs 580       565       580 565  
Deferred tax liabilities, investments 867       1,267       867 1,267  
Deferred tax liabilities, internally-developed software 134       130       134 130  
Deferred tax liabilities, other 191       173       191 173  
Total gross deferred tax liabilities 1,772       2,135       1,772 2,135  
Net deferred tax asset 296       $ 33       296 $ 33  
Amount of the Company's foreign operations' undistributed earnings for which U.S. income taxes have not been recognized $ 383               $ 383