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Consolidated Statements Of Operations and Comprehensive Income (Unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues        
Net premiums written $ 10,302 $ 9,546 $ 19,501 $ 18,208
Increase in unearned premiums (745) (733) (1,198) (1,174)
Net premiums earned 9,557 8,813 18,303 17,034
Net investment income 888 884 1,710 1,747
Net realized gains (losses) (includes $(442), $12, $(578), and $36 reclassified from AOCI) (504) (33) (403) 854
Total revenues 9,941 9,664 19,610 19,635
Expenses        
Losses and loss expenses 5,408 5,006 10,195 10,059
Policy benefits 159 185 304 352
Policy acquisition costs 1,739 1,698 3,476 3,363
Administrative expenses 818 775 1,596 1,519
Interest expense 134 122 266 244
Other (income) expense 101 (777) (209) (1,267)
Amortization of purchased intangibles 71 73 142 145
Cigna integration expenses 3 0 3 0
Total expenses 8,433 7,082 15,773 14,415
Income before income tax 1,508 2,582 3,837 5,220
Income tax expense (includes $(77), $(6), $(99), and $(2) on unrealized gains and losses reclassified from AOCI) 293 317 648 655
Net income 1,215 2,265 3,189 4,565
Other comprehensive income (loss)        
Unrealized appreciation (depreciation) (4,786) 706 (9,574) (1,587)
Reclassification adjustment for net realized (gains) losses included in net income 442 (12) 578 (36)
Unrealized appreciation (depreciation) after reclassification adjustment (4,344) 694 (8,996) (1,623)
Change in:        
Cumulative foreign currency translation adjustment (777) 308 (710) 330
Postretirement benefit liability adjustment 5 (9) 24 (37)
Other comprehensive income (loss), before income tax (5,116) 993 (9,682) (1,330)
Income tax (expense) benefit related to OCI items 245 (129) 1,057 283
Other comprehensive income (loss) (4,871) 864 (8,625) (1,047)
Comprehensive income (loss) $ (3,656) $ 3,129 $ (5,436) $ 3,518
Earnings per share        
Basic earnings per share $ 2.88 $ 5.09 $ 7.53 $ 10.20
Diluted earnings per share $ 2.86 $ 5.06 $ 7.46 $ 10.13