XML 12 R2.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenues        
Property-liability insurance premiums $ 7,869 $ 7,650 $ 23,406 $ 22,625
Life and annuity premiums and contract charges 571 538 1,701 1,611
Net investment income 748 807 2,241 2,446
Realized capital gains and losses:        
Total other-than-temporary impairment (“OTTI”) losses (73) (186) (241) (286)
OTTI losses reclassified to (from) other comprehensive income 0 12 8 20
Net OTTI losses recognized in earnings (73) (174) (233) (266)
Sales and other realized capital gains and losses 106 207 141 546
Total realized capital gains and losses 33 33 (92) 280
Total revenues 9,221 9,028 27,256 26,962
Costs and expenses        
Property-liability insurance claims and claims expense 5,553 5,255 17,138 15,835
Life and annuity contract benefits 484 460 1,393 1,347
Interest credited to contractholder funds 183 194 558 578
Amortization of deferred policy acquisition costs 1,138 1,092 3,393 3,248
Operating costs and expenses 1,021 992 3,043 3,143
Restructuring and related charges 5 9 21 32
Interest expense 73 73 218 219
Costs and expenses 8,457 8,075 25,764 24,402
Gain on disposition of operations 1 2 4 2
Income from operations before income tax expense 765 955 1,496 2,562
Income tax expense 245 305 459 880
Net income 520 650 1,037 1,682
Preferred stock dividends 29 29 87 87
Net income applicable to common shareholders $ 491 $ 621 $ 950 $ 1,595
Earnings per common share:        
Net income available to common shareholders per common share - Basic (in dollars per share) $ 1.32 $ 1.56 $ 2.54 $ 3.92
Weighted average common shares - Basic (in shares) 371.5 397.0 374.4 406.5
Net income available to common shareholders per common share - Diluted (in dollars per share) $ 1.31 $ 1.54 $ 2.51 $ 3.87
Weighted average common shares - Diluted (in shares) 375.9 402.1 378.9 412.4
Cash dividends declared per common share (in dollars per share) $ 0.33 $ 0.30 $ 0.99 $ 0.9