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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - 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        
Property-liability insurance premiums $ 7,650 $ 7,307 $ 22,625 $ 21,575
Life and annuity premiums and contract charges 538 512 1,611 1,637
Net investment income 807 823 2,446 2,680
Realized capital gains and losses:        
Total other-than-temporary impairment (“OTTI”) losses (186) (53) (286) (177)
OTTI losses reclassified to (from) other comprehensive income 12 0 20 (2)
Net OTTI losses recognized in earnings (174) (53) (266) (179)
Sales and other realized capital gains and losses 207 347 546 767
Total realized capital gains and losses 33 294 280 588
Total revenues 9,028 8,936 26,962 26,480
Costs and expenses        
Property-liability insurance claims and claims expense 5,255 4,909 15,835 14,810
Life and annuity contract benefits 460 433 1,347 1,334
Interest credited to contractholder funds 194 198 578 717
Amortization of deferred policy acquisition costs 1,092 1,030 3,248 3,100
Operating costs and expenses 992 1,068 3,143 3,185
Restructuring and related charges 9 3 32 13
Loss on extinguishment of debt 0 0 0 1
Interest expense 73 78 219 249
Costs and expenses 8,075 7,719 24,402 23,409
Gain (loss) on disposition of operations 2 (27) 2 (77)
Income from operations before income tax expense 955 1,190 2,562 2,994
Income tax expense 305 409 880 968
Net income 650 781 1,682 2,026
Preferred stock dividends 29 31 87 75
Net income available to common shareholders $ 621 $ 750 $ 1,595 $ 1,951
Earnings per common share:        
Net income available to common shareholders per common share - Basic (in dollars per share) $ 1.56 $ 1.77 $ 3.92 $ 4.49
Weighted average common shares - Basic (in shares) 397.0 424.5 406.5 435.0
Net income available to common shareholders per common share - Diluted (in dollars per share) $ 1.54 $ 1.74 $ 3.87 $ 4.42
Weighted average common shares - Diluted (in shares) 402.1 431.2 412.4 441.6
Cash dividends declared per common share (in dollars per share) $ 0.30 $ 0.28 $ 0.9 $ 0.84