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Consolidated Statement of Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Revenues        
Premiums $ 6,032 $ 5,983 $ 17,851 $ 17,734
Net investment income 614 719 1,838 2,150
Fee income 112 110 334 329
Net realized investment gains [1] 15 40 35 57
Other revenues 21 34 68 109
Total revenues 6,794 6,886 20,126 20,379
Claims and expenses        
Claims and claim adjustment expenses 3,382 3,520 10,360 10,661
Amortization of deferred acquisition costs 987 984 2,913 2,899
General and administrative expenses 1,024 1,031 3,044 2,913
Interest expense 94 93 278 277
Total claims and expenses 5,487 5,628 16,595 16,750
Income before income taxes 1,307 1,258 3,531 3,629
Income tax expense 379 339 958 975
Net income $ 928 $ 919 $ 2,573 $ 2,654
Net income per share        
Basic $ 3.00 $ 2.72 $ 8.13 $ 7.68
Diluted $ 2.97 $ 2.69 $ 8.04 $ 7.60
Weighted average number of common shares outstanding        
Basic 307.6 335.1 314.3 342.9
Diluted 311.0 338.9 317.7 346.5
Cash dividends declared per common share $ 0.61 $ 0.55 $ 1.77 $ 1.60
[1] Total other-than-temporary impairment (OTTI) losses were $(14) million and $(8) million for the three months ended September 30, 2015 and 2014, respectively, and $(26) million and $(16) million for the nine months ended September 30, 2015 and 2014, respectively. Of total OTTI, credit losses of $(14) million and $(10) million for the three months ended September 30, 2015 and 2014, respectively, and $(23) million and $(20) million for the nine months ended September 30, 2015 and 2014, respectively, were recognized in net realized investment gains. In addition, unrealized gains (losses) from other changes in total OTTI of $0 million and $2 million for the three months ended September 30, 2015 and 2014, respectively, and $(3) million and $4 million for the nine months ended September 30, 2015 and 2014, respectively, were recognized in other comprehensive income (loss) as part of changes in net unrealized gains on investment securities having credit losses recognized in the consolidated statement of income.