Selected Quarterly Financial Data (Unaudited) (table)

12 Months Ended

Dec. 31, 2017

Selected Quarterly Financial Data (Unaudited) disclosure

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

2017 (in millions, except per share amounts)	First Quarter		Second Quarter		Third Quarter		Fourth Quarter		Total
Total revenues	$	6,942	$	7,184	$	7,325	$	7,451	$	28,902
Total expenses		6,182		6,394		7,005		6,591		26,172
Income before income taxes		760		790		320		860		2,730
Income tax expense(1):		143		195		27		309		674
Net income	$	617	$	595	$	293	$	551	$	2,056
Net income per share(2):
Basic	$	2.19	$	2.13	$	1.06	$	2.00	$	7.39
Diluted		2.17		2.11		1.05		1.98		7.33

2016 (in millions, except per share amounts)	First Quarter		Second Quarter		Third Quarter		Fourth Quarter		Total
Total revenues	$	6,686	$	6,785	$	6,961	$	7,193	$	27,625
Total expenses		5,769		5,898		6,014		5,891		23,572
Income before income taxes		917		887		947		1,302		4,053
Income tax expense		226		223		231		359		1,039
Net income	$	691	$	664	$	716	$	943	$	3,014
Net income per share(2):
Basic	$	2.33	$	2.27	$	2.48	$	3.32	$	10.39
Diluted		2.30		2.24		2.45		3.28		10.28

(1)

Income tax expense for the fourth quarter and full year of 2017 included a net charge of $129 million to reflect the change in tax laws and tax rates enacted in the U.S. on December 22, 2017 as part of the Tax Cuts and Jobs Act of 2017, resulting primarily from revaluing the Company's deferred tax assets and liabilities and the tax imposed on accumulated foreign earnings.

(2)

Due to the use of an average number of shares for each quarter, the sum of the quarterly earnings per share may not equal the total earnings per share for the full year.