Quarterly Financial Data

12 Months Ended

Dec. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Data (unaudited)

The following unaudited quarterly financial data is presented on a consolidated basis for each of the years ended December 31, 2018 and December 31, 2017. Quarterly financial results necessarily rely heavily on estimates. This and certain other factors, such as the seasonal nature of portions of the insurance business, suggest the need to exercise caution in drawing specific conclusions from quarterly consolidated results.

(In millions, except per share amounts)					Three Months Ended
	March 31,			June 30,			September 30,			December 31,
Consolidated Results
2018
Total revenues	$	11,413		$	11,480		$	11,457		$	14,300
Income before income taxes		1,218			1,102			1,033			228
Shareholders’ net income		915	⁽¹⁾		806	⁽¹⁾		772	⁽¹⁾		144	⁽¹⁾
Shareholders’ net income per share	1
Basic		3.78			3.32			3.18			0.56
Diluted		3.72			3.29			3.14			0.55
2017
Total revenues	$	10,428		$	10,374		$	10,372		$	10,632
Income before income taxes		890			1,134			824			758
Shareholders’ net income		598	⁽¹⁾		813	⁽¹⁾		560	⁽¹⁾		266	⁽¹⁾
Shareholders’ net income per share	1
Basic		2.34			3.20			2.25			1.09
Diluted		2.30			3.15			2.21			1.07
Stock and dividend data
2018
Price range of common stock — high	$	227.13		$	182.10		$	208.73		$	226.61
— low	$	163.02		$	163.80		$	166.88		$	176.52
Dividends declared per common share	$	0.04		$	-		$	-		$	-
2017
Price range of common stock — high	$	154.83		$	173.21		$	188.36		$	212.46
— low	$	133.52		$	146.70		$	166.81		$	183.08
Dividends declared per common share	$	0.04		$	-		$	-		$	-

(1) Shareholders’ net income includes the following after-tax charges (benefits), described in Note 21 to the Consolidated Financial Statements:
	March 31,			June 30,			September 30,			December 31,
2018 Transaction-related costs	$	50		$	109		$	108		$	402
2018 Charges associated with litigation matters		-			-			35			(16)
2018 U.S. tax reform		-			-			(5)			3

Total 2018 charges	$	50		$	109		$	138		$	389

	March 31,			June 30,			September 30,			December 31,
2017 U.S. tax reform	$	-		$	-		$	-		$	196
2017 Debt extinguishment costs		-			-			209			-
2017 Long-term care guaranty fund assessment		83			-			-			-
2017 Transaction-related costs		49			(47)			6			25
Total 2017 charges (benefits)	$	132		$	(47)		$	215		$	221