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Condensed Consolidated Statements of Operations (unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Revenues    
Net investment income $ 648 $ 786
Realized capital gains and losses:    
Total other-than-temporary impairment (“OTTI”) losses (16) 0
OTTI losses reclassified to (from) other comprehensive income (OCI) 2 (1)
Net OTTI losses recognized in earnings (14) (1)
Sales and valuation changes on equity investments and derivatives 676 (133)
Total realized capital gains and losses 662 (134)
Total revenues 10,990 9,770
Costs and expenses    
Property and casualty insurance claims and claims expense 5,820 5,129
Life contract benefits 497 504
Interest credited to contractholder funds 162 161
Amortization of deferred policy acquisition costs 1,364 1,273
Operating costs and expenses 1,380 1,303
Pension and other postretirement remeasurement gains and losses 15 14
Amortization of purchased intangibles 32 22
Restructuring and related charges 18 19
Interest expense 83 83
Total costs and expenses 9,371 8,508
Gain on disposition of operations 1 1
Income from operations before income tax expense 1,620 1,263
Income tax expense 328 257
Net income 1,292 1,006
Preferred stock dividends 31 29
Net income applicable to common shareholders $ 1,261 $ 977
Earnings per common share    
Net income available to common shareholders per common share - Basic (in dollars per share) $ 3.79 $ 2.76
Weighted average common shares - Basic (in shares) 332.6 354.1
Net income available to common shareholders per common share - Diluted (in dollars per share) $ 3.74 $ 2.71
Weighted average common shares - Diluted (in shares) 337.5 359.9
Property and casualty insurance premiums    
Revenues    
Other revenue $ 8,802 $ 8,286
Life premiums and contract charges    
Revenues    
Other revenue 628 616
Other revenue    
Revenues    
Other revenue $ 250 $ 216