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Condensed Consolidated Statements of Operations (unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Revenues    
Net investment income $ 421 $ 648
Realized capital gains (losses) (462) 662
Total revenues 10,076 10,990
Costs and expenses    
Property and casualty insurance claims and claims expense 5,341 5,820
Shelter-in-Place Payback expense 210 0
Life contract benefits 501 497
Interest credited to contractholder funds 132 162
Amortization of deferred policy acquisition costs 1,401 1,364
Operating costs and expenses 1,399 1,380
Pension and other postretirement remeasurement (gains) losses 318 15
Restructuring and related charges 5 18
Amortization of purchased intangibles 28 32
Interest expense 81 83
Total costs and expenses 9,416 9,371
Gain on disposition of operations 1 1
Income from operations before income tax expense 661 1,620
Income tax expense 112 328
Net income 549 1,292
Preferred stock dividends 36 31
Net income applicable to common shareholders $ 513 $ 1,261
Earnings per common share    
Net income available to common shareholders per common share - Basic (in dollars per share) $ 1.62 $ 3.79
Weighted average common shares - Basic (in shares) 317.4 332.6
Net income available to common shareholders per common share - Diluted (in dollars per share) $ 1.59 $ 3.74
Weighted average common shares - Diluted (in shares) 322.4 337.5
Property and casualty insurance premiums    
Revenues    
Premiums Earned, Net $ 9,235 $ 8,802
Life premiums and contract charges    
Revenues    
Insurance premiums, commissions and fees 617 628
Other revenue    
Revenues    
Insurance premiums, commissions and fees $ 265 $ 250