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Condensed Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenues        
Property-liability insurance premiums $ 8,121 $ 7,869 $ 24,098 $ 23,406
Life and annuity premiums and contract charges 593 571 1,777 1,701
Net investment income 843 748 2,488 2,241
Realized capital gains and losses:        
Total other-than-temporary impairment (“OTTI”) losses (26) (73) (135) (241)
OTTI losses reclassified to (from) other comprehensive income (2) 0 (2) 8
Net OTTI losses recognized in earnings (28) (73) (137) (233)
Sales and other realized capital gains and losses 131 106 455 141
Total realized capital gains and losses 103 33 318 (92)
Total revenues 9,660 9,221 28,681 27,256
Costs and expenses        
Property-liability insurance claims and claims expense 5,545 5,553 16,650 17,138
Life and annuity contract benefits 456 484 1,416 1,393
Interest credited to contractholder funds 174 183 522 558
Amortization of deferred policy acquisition costs 1,200 1,138 3,545 3,393
Operating costs and expenses 1,218 1,021 3,401 3,043
Restructuring and related charges 14 5 77 21
Interest expense 83 73 251 218
Costs and expenses 8,690 8,457 25,862 25,764
Gain on disposition of operations 1 1 15 4
Income from operations before income tax expense 971 765 2,834 1,496
Income tax expense 305 245 894 459
Net income 666 520 1,940 1,037
Preferred stock dividends 29 29 87 87
Net income applicable to common shareholders $ 637 $ 491 $ 1,853 $ 950
Earnings per common share:        
Net income available to common shareholders per common share - Basic (in dollars per share) $ 1.76 $ 1.32 $ 5.10 $ 2.54
Weighted average common shares - Basic (in shares) 361.3 371.5 363.5 374.4
Net income available to common shareholders per common share - Diluted (in dollars per share) $ 1.74 $ 1.31 $ 5.02 $ 2.51
Weighted average common shares - Diluted (in shares) 367.1 375.9 369.1 378.9
Cash dividends declared per common share (in dollars per share) $ 0.37 $ 0.33 $ 1.11 $ 0.99