Selected Quarterly Financial Information (unaudited)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Information

Note 25: Selected Quarterly Financial Information (unaudited)

The following table sets forth the historical unaudited quarterly financial data for the periods indicated. The information for each of these periods has been prepared on the same basis as the audited consolidated financial statements and, in our opinion, reflects all adjustments necessary to present fairly our financial results. Operating results for previous periods do not necessarily indicate results that may be achieved in any future period.

	2019(1)
	First		Second		Third		Fourth
	Quarter		Quarter		Quarter		Quarter		Year
($ in millions, except per share data)
Total revenues	$	450	$	454	$	466	$	468	$	1,838
Total operating expenses		365		390		384		384		1,523
Income before income taxes		75		54		70		74		273
Net income		55		39		50		72		216
Basic earnings per share	$	0.59	$	0.43	$	0.59	$	0.83	$	2.43
Diluted earnings per share	$	0.58	$	0.43	$	0.59	$	0.83	$	2.42

⁽¹⁾ The sum of the earnings per share for the four quarters may differ from annual earnings per share due to the required method of computing the weighted average shares in interim periods.

	2018(1)
	First		Second		Third		Fourth
	Quarter		Quarter		Quarter		Quarter		Year
($ in millions, except per share data)
Total revenues	$	367	$	563	$	427	$	642	$	1,999
Total operating expenses		320		408		364		473		1,565
Income before income taxes		40		146		56		161		403
Net income		30		107		41		120		298
Basic earnings per share	$	0.31	$	1.10	$	0.42	$	1.25	$	3.07
Diluted earnings per share	$	0.30	$	1.10	$	0.42	$	1.24	$	3.05

⁽¹⁾ The sum of the earnings per share for the four quarters may differ from annual earnings per share due to the required method of computing the weighted average shares in interim periods.