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Reporting Segments
 6 Months Ended
Jun. 30, 2015
Segment Reporting [Abstract]  
Reporting Segments
Reporting Segments
Summarized revenue data for each of the Company’s reportable segments are as follows:
($ in millions)
Three months ended June 30,
 
Six months ended June 30,
 
2015
 
2014
 
2015
 
2014
Property-Liability
 

 
 

 
 

 
 

Property-liability insurance premiums
 

 
 

 
 

 
 

Auto
$
5,086

 
$
4,824

 
$
10,065

 
$
9,536

Homeowners
1,775

 
1,714

 
3,536

 
3,411

Other personal lines
423

 
414

 
843

 
826

Commercial lines
128

 
121

 
253

 
231

Other business lines
137

 
131

 
278

 
264

Allstate Protection
7,549

 
7,204

 
14,975

 
14,268

Discontinued Lines and Coverages
—

 
—

 
—

 
—

Total property-liability insurance premiums
7,549

 
7,204

 
14,975

 
14,268

Net investment income
292

 
351

 
650

 
663

Realized capital gains and losses
49

 
250

 
77

 
303

Total Property-Liability
7,890

 
7,805

 
15,702

 
15,234

Allstate Financial
 

 
 

 
 

 
 

Life and annuity premiums and contract charges
 

 
 

 
 

 
 

Traditional life insurance
131

 
125

 
263

 
252

Immediate annuities with life contingencies
—

 
—

 
—

 
5

Accident and health insurance
195

 
187

 
391

 
382

Total life and annuity premiums
326

 
312

 
654

 
639

Interest-sensitive life insurance
207

 
202

 
413

 
476

Fixed annuities
3

 
4

 
6

 
10

Total contract charges
210

 
206

 
419

 
486

Total life and annuity premiums and contract charges
536

 
518

 
1,073

 
1,125

Net investment income
489

 
538

 
973

 
1,178

Realized capital gains and losses
59

 
(10
)
 
170

 
(9
)
Total Allstate Financial
1,084

 
1,046

 
2,216

 
2,294

Corporate and Other
 

 
 

 
 

 
 

Service fees
1

 
1

 
2

 
3

Net investment income
8

 
9

 
16

 
16

Total Corporate and Other before reclassification of service fees
9

 
10

 
18

 
19

Reclassification of service fees (1)
(1
)
 
(1
)
 
(2
)
 
(3
)
Total Corporate and Other
8

 
9

 
16

 
16

Consolidated revenues
$
8,982

 
$
8,860

 
$
17,934

 
$
17,544

_______________
(1) 
For presentation in the Condensed Consolidated Statements of Operations, service fees of the Corporate and Other segment are reclassified to operating costs and expenses.











Summarized financial performance data for each of the Company’s reportable segments are as follows:
($ in millions)
Three months ended June 30,
 
Six months ended June 30,
 
2015
 
2014
 
2015
 
2014
Property-Liability
 

 
 

 
 

 
 

Underwriting income
 

 
 

 
 

 
 

Allstate Protection
$
(8
)
 
$
192

 
$
461

 
$
567

Discontinued Lines and Coverages
(2
)
 
(3
)
 
(4
)
 
(6
)
Total underwriting income
(10
)
 
189

 
457

 
561

Net investment income
292

 
351

 
650

 
663

Income tax expense on operations
(92
)
 
(185
)
 
(397
)
 
(410
)
Realized capital gains and losses, after-tax
31

 
161

 
49

 
195

Gain on disposition of operations, after-tax
1

 
38

 
1

 
38

Property-Liability net income available to common shareholders
222

 
554

 
760

 
1,047

Allstate Financial
 

 
 

 
 

 
 

Life and annuity premiums and contract charges
536

 
518

 
1,073

 
1,125

Net investment income
489

 
538

 
973

 
1,178

Periodic settlements and accruals on non-hedge derivative instruments
—

 
(1
)
 
—

 
(1
)
Contract benefits and interest credited to contractholder funds
(637
)
 
(621
)
 
(1,270
)
 
(1,400
)
Operating costs and expenses and amortization of deferred policy acquisition costs
(180
)
 
(177
)
 
(372
)
 
(369
)
Restructuring and related charges
(2
)
 
(1
)
 
(2
)
 
(3
)
Income tax expense on operations
(67
)
 
(91
)
 
(129
)
 
(176
)
Operating income
139

 
165

 
273

 
354

Realized capital gains and losses, after-tax
38

 
(6
)
 
110

 
(6
)
Valuation changes on embedded derivatives that are not hedged, after-tax
4

 
(3
)
 
(1
)
 
(14
)
DAC and DSI amortization related to realized capital gains and losses and valuation changes on embedded derivatives that are not hedged, after-tax
(2
)
 
—

 
(2
)
 
—

Reclassification of periodic settlements and accruals on non-hedge derivative instruments, after-tax
—

 
1

 
—

 
1

Loss on disposition of operations, after-tax
—

 
(12
)
 
(1
)
 
(28
)
Change in accounting for investments in qualified affordable housing projects, after-tax
—

 
—

 
(17
)
 
—

Allstate Financial net income available to common shareholders
179

 
145

 
362

 
307

Corporate and Other
 

 
 

 
 

 
 
Service fees (1)
1

 
1

 
2

 
3

Net investment income
8

 
9

 
16

 
16

Operating costs and expenses (1)
(83
)
 
(95
)
 
(162
)
 
(192
)
Income tax benefit on operations
28

 
32

 
54

 
64

Preferred stock dividends
(29
)
 
(31
)
 
(58
)
 
(44
)
Operating loss
(75
)
 
(84
)
 
(148
)
 
(153
)
Realized capital gains and losses, after-tax
—

 
(1
)
 
—

 
—

Corporate and Other net loss available to common shareholders
(75
)
 
(85
)
 
(148
)
 
(153
)
Consolidated net income available to common shareholders
$
326

 
$
614

 
$
974

 
$
1,201

_______________
(1) 
For presentation in the Condensed Consolidated Statements of Operations, service fees of the Corporate and Other segment are reclassified to operating costs and expenses.