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Reporting Segments
 9 Months Ended
Sep. 30, 2016
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 September 30,
 
Nine months ended September 30,
 
2016
 
2015
 
2016
 
2015
Property-Liability
 

 
 

 
 

 
 

Property-liability insurance premiums
 

 
 

 
 

 
 

Auto
$
5,353

 
$
5,154

 
$
15,879

 
$
15,219

Homeowners
1,813

 
1,795

 
5,438

 
5,331

Other personal lines
426

 
425

 
1,271

 
1,268

Commercial lines
127

 
128

 
383

 
381

Other business lines
150

 
148

 
435

 
426

Allstate Protection
7,869

 
7,650

 
23,406

 
22,625

Discontinued Lines and Coverages
—

 
—

 
—

 
—

Total property-liability insurance premiums
7,869

 
7,650

 
23,406

 
22,625

Net investment income
310

 
307

 
928

 
957

Realized capital gains and losses
53

 
(161
)
 
(20
)
 
(84
)
Total Property-Liability
8,232

 
7,796

 
24,314

 
23,498

Allstate Financial
 

 
 

 
 

 
 

Life and annuity premiums and contract charges
 

 
 

 
 

 
 

Life and annuity premiums
 
 
 
 
 
 
 
Traditional life insurance
145

 
135

 
422

 
398

Accident and health insurance
216

 
194

 
646

 
585

Total life and annuity premiums
361

 
329

 
1,068

 
983

Contract charges
 
 
 
 
 
 
 
Interest-sensitive life insurance
206

 
205

 
623

 
618

Fixed annuities
4

 
4

 
10

 
10

Total contract charges
210

 
209

 
633

 
628

Total life and annuity premiums and contract charges
571

 
538

 
1,701

 
1,611

Net investment income
427

 
491

 
1,281

 
1,464

Realized capital gains and losses
(21
)
 
194

 
(70
)
 
364

Total Allstate Financial
977

 
1,223

 
2,912

 
3,439

Corporate and Other
 

 
 

 
 

 
 

Service fees
1

 
—

 
3

 
2

Net investment income
11

 
9

 
32

 
25

Realized capital gains and losses
1

 
—

 
(2
)
 
—

Total Corporate and Other before reclassification of service fees
13

 
9

 
33

 
27

Reclassification of service fees (1)
(1
)
 
—

 
(3
)
 
(2
)
Total Corporate and Other
12

 
9

 
30

 
25

Consolidated revenues
$
9,221

 
$
9,028

 
$
27,256

 
$
26,962

_______________
(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 September 30,
 
Nine months ended September 30,
 
2016
 
2015
 
2016
 
2015
Property-Liability
 

 
 

 
 

 
 

Underwriting income
 

 
 

 
 

 
 

Allstate Protection
$
455

 
$
540

 
$
518

 
$
1,001

Discontinued Lines and Coverages
(100
)
 
(49
)
 
(104
)
 
(53
)
Total underwriting income
355

 
491

 
414

 
948

Net investment income
310

 
307

 
928

 
957

Income tax expense on operations (1)
(218
)
 
(256
)
 
(429
)
 
(653
)
Realized capital gains and losses, after-tax
36

 
(104
)
 
(10
)
 
(55
)
Loss on disposition of operations, after-tax
—

 
(1
)
 
—

 
—

Property-Liability net income applicable to common shareholders
483

 
437

 
903

 
1,197

Allstate Financial
 

 
 

 
 

 
 

Life and annuity premiums and contract charges
571

 
538

 
1,701

 
1,611

Net investment income
427

 
491

 
1,281

 
1,464

Contract benefits and interest credited to contractholder funds
(667
)
 
(651
)
 
(1,939
)
 
(1,921
)
Operating costs and expenses and amortization of deferred policy acquisition costs
(194
)
 
(173
)
 
(577
)
 
(545
)
Restructuring and related charges
—

 
(1
)
 
(1
)
 
(3
)
Income tax expense on operations
(43
)
 
(66
)
 
(147
)
 
(195
)
Operating income
94

 
138

 
318

 
411

Realized capital gains and losses, after-tax
(14
)
 
125

 
(46
)
 
235

Valuation changes on embedded derivatives that are not hedged, after-tax
—

 
(2
)
 
(8
)
 
(3
)
DAC and DSI amortization related to realized capital gains and losses and valuation changes on embedded derivatives that are not hedged, after-tax
(1
)
 
(1
)
 
(3
)
 
(3
)
Gain on disposition of operations, after-tax
1

 
2

 
3

 
1

Change in accounting for investments in qualified affordable housing projects, after-tax
—

 
—

 
—

 
(17
)
Allstate Financial net income applicable to common shareholders
80

 
262

 
264

 
624

Corporate and Other
 

 
 

 
 

 
 
Service fees (2)
1

 
—

 
3

 
2

Net investment income
11

 
9

 
32

 
25

Operating costs and expenses (2)
(81
)
 
(86
)
 
(241
)
 
(248
)
Income tax benefit on operations
26

 
28

 
77

 
82

Preferred stock dividends
(29
)
 
(29
)
 
(87
)
 
(87
)
Operating loss
(72
)
 
(78
)
 
(216
)
 
(226
)
Realized capital gains and losses, after-tax
—

 
—

 
(1
)
 
—

Corporate and Other net loss applicable to common shareholders
(72
)
 
(78
)
 
(217
)
 
(226
)
Consolidated net income applicable to common shareholders
$
491

 
$
621

 
$
950

 
$
1,595

_______________
(1) 
Income tax on operations for the Property-Liability segment includes $28 million of expense for the nine months ended September 30, 2015 related to the change in accounting guidance for investments in qualified affordable housing projects.
(2) 
For presentation in the Condensed Consolidated Statements of Operations, service fees of the Corporate and Other segment are reclassified to operating costs and expenses.