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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues        
Net earned premiums $ 2,498 $ 2,347 $ 4,939 $ 4,595
Net investment income 618 575 1,227 1,100
Net investment losses (10) (32) (32) (67)
Non-insurance warranty revenue 404 407 811 814
Other revenues 9 7 18 14
Total revenues 3,519 3,304 6,963 6,456
Claims, Benefits and Expenses        
Insurance claims and policyholders’ benefits (re-measurement loss of $(25), $(33), $(40) and $(34)) 1,882 1,779 3,689 3,432
Amortization of deferred acquisition costs 435 403 879 782
Non-insurance warranty expense 388 384 782 768
Other operating expenses 378 346 715 683
Interest 34 31 69 59
Total claims, benefits and expenses 3,117 2,943 6,134 5,724
Income before income tax 402 361 829 732
Income tax expense (85) (78) (174) (152)
Net income $ 317 $ 283 $ 655 $ 580
Basic earnings per share        
Basic earnings per share (in usd per share) $ 1.17 $ 1.04 $ 2.41 $ 2.14
Diluted earnings per share        
Diluted earnings per share (in usd per share) $ 1.17 $ 1.04 $ 2.40 $ 2.13
Weighted Average Outstanding Common Stock and Common Stock Equivalents        
Basic (in shares) 271.6 271.2 271.6 271.2
Diluted (in shares) 272.6 272.0 272.6 272.1