Quarterly Results of Operations (Unaudited)

12 Months Ended

Dec. 31, 2016

Quarterly Results of Operations (Unaudited) [Abstract]

Quarterly Results of Operations (Unaudited)

23.  Quarterly Results of Operations (Unaudited)

The unaudited quarterly results of operations (in millions, except per share data) were as follows:

	For the Three Months Ended
	March 31,		June 30,		September 30,			December 31,
2016
Total revenues	$	3,243	$	3,307		$	3,525		$	3,255
Total expenses		3,008		2,893			2,913			3,058
Net income (loss) (1)		211		325			467			189
Earnings (loss) per common share – basic:
Net income (loss) (1)		0.87		1.37			2.02			0.83
Earnings (loss) per common share – diluted:
Net income (loss) (1)		0.83		1.35			2.00			0.82
2015
Total revenues	$	3,304	$	3,381		$	3,716		$	3,171
Total expenses		2,942		2,932			3,448			2,820
Net income (loss)		300		344			227			283
Earnings (loss) per common share – basic:
Net income (loss)		1.17		1.37			0.91			1.15
Earnings (loss) per common share – diluted:
Net income (loss)		1.15		1.35			0.87			1.14

(1)Effective October 1, 2016, we early adopted ASU 2016-09, Improvements to Employee Share-Based Payment Accounting.  We have updated certain previously reported interim results and metrics as of January 1, 2016, in accordance with the new guidance.  For more information, see Note 2.