The Company’s chief operating decision maker reviews financial performance and makes decisions about the allocation of resources for the five reportable segments. These segments are described below and align with the Company’s key product and service offerings.

Allstate Protection principally offers private passenger auto and homeowners insurance in the United States and Canada, with earned premiums accounting for 80.0% of Allstate’s 2021 consolidated revenues. Allstate Protection primarily operates in the U.S. (all 50 states and the District of Columbia (“D.C.”)) and Canada. For 2021, the top U.S. geographic locations for premiums earned by the Allstate Protection segment were Texas, California, New York and Florida. No other jurisdiction accounted for more than 5% of premium earned for Allstate Protection. Revenues from external customers generated outside the United States were $1.86 billion, $1.57 billion and $1.37 billion in 2021, 2020 and 2019, respectively.

Run-off Property-Liability includes property and casualty insurance coverage that primarily relates to policies written during the 1960s through the mid-1980s. Our exposure to asbestos, environmental and other run-off lines claims arises principally from direct excess commercial insurance, assumed reinsurance coverage, direct primary commercial insurance and other businesses in run-off.

Protection Services comprise Allstate Protection Plans, Allstate Dealer Services, Allstate Roadside, Arity and Allstate Identity Protection. Protection Services offer consumer product protection plans, finance and insurance products (including vehicle service contracts, guaranteed asset protection waivers, road hazard tire and wheel and paintless dent repair protection), roadside assistance, device and mobile data collection services and analytic solutions using automotive telematics information and identity protection. Protection Services primarily operate in the U.S. and Canada, with Allstate Protection Plans also offering services in Europe, Australia and Asia. Revenues from external customers generated outside the United States relate to consumer product protection plans sold primarily in the European Union and were $232 million, $188 million and $95 million in 2021, 2020 and 2019, respectively.

Allstate Health and Benefits offers employer voluntary benefits, group health and individual health products, including life, accident, critical illness, hospital, short-term disability and other health products. Allstate Health and Benefits primarily operates in the U.S. (all 50 states and D.C.) and Canada. For 2021, the top geographic locations for statutory direct accident and health insurance premiums were Florida, Texas, Georgia, Ohio and North Carolina. No other jurisdiction accounted for more than 5% of statutory direct accident and health insurance premiums. Revenues from external customers generated outside the United States relate to voluntary accident and health insurance sold in Canada and were not material.

Corporate and Other comprises holding company activities and certain non-insurance operations, including expenses associated with strategic initiatives.

National General results are included in the following segments:

•Property and casualty - Allstate Protection

•Accident and health - Allstate Health and Benefits

•Technology solutions - Protection Services

Allstate Protection and Run-off Property Liability segments comprise Property-Liability. The Company does not allocate investment income, net gains and losses on investments and derivatives, or assets to the Allstate Protection and Run-off Property Liability segments. Management reviews assets at the Property-Liability, Protection Services, Allstate Health and Benefits, and Corporate and Other levels for decision-making purposes.

The accounting policies of the reportable segments are the same as those described in Note 2. The effects of intersegment transactions are eliminated in the consolidated results. For segment results, services provided by Protection Services to Allstate Protection are not eliminated as management considers those transactions in assessing the results of the respective segments.

Measuring segment profit or loss

The measure of segment profit or loss used in evaluating performance is underwriting income for the Allstate Protection and Run-off Property-Liability and adjusted net income for the Protection Services, Allstate Health and Benefits and Corporate and Other segments.

Underwriting income is calculated as premiums earned and other revenue, less claims and claims expenses (“losses”), Shelter-in-Place Payback expense, amortization of DAC, operating costs and expenses, amortization or impairment of purchased intangibles and restructuring and related charges as determined using GAAP.

Adjusted net income is net income (loss) applicable to common shareholders, excluding:


•			Net gains and losses on investments and derivatives except for periodic settlements and accruals on non-hedge derivative instruments, which are reported with net gains and losses on investments and derivatives but included in adjusted net income
•			Pension and other postretirement remeasurement gains and losses
•			Business combination expenses and the amortization or impairment of purchased intangibles
•			Income or loss from discontinued operations
•			Adjustments for other significant non-recurring, infrequent or unusual items, when (a) the nature of the charge or gain is such that it is reasonably unlikely to recur within two years, or (b) there has been no similar charge or gain within the prior two years
•			Income tax expense or benefit on reconciling items

A reconciliation of these measures to net income (loss) applicable to common shareholders is provided below.


Reportable segments financial performance
	For the years ended December 31,
($ in millions)	2021		2020		2019
Underwriting income (loss) by segment
Allstate Protection	$	1,785	$	4,569	$	2,921
Run-off Property-Liability	(120)		(144)		(108)
Total Property-Liability	1,665		4,425		2,813

Adjusted net income (loss) by segment, after-tax
Protection Services	179		153		38
Allstate Health and Benefits	208		96		115
Corporate and Other	(433)		(428)		(438)

Reconciling items
Property-Liability net investment income	3,118		1,421		1,533
Net gains (losses) on investments and derivatives	1,084		1,087		1,538
Pension and other postretirement remeasurement gains (losses)	644		51		(114)
Curtailment gains (losses)	—		8		—
Business combination expenses and amortization of purchased intangibles (1)	(157)		(106)		(122)
Business combination fair value adjustment	6		—		—
Impairment of purchased intangibles (1)	—		—		(55)
Income tax (expense) benefit on reconciling items	(1,270)		(1,393)		(1,150)
Total reconciling items	3,425		1,068		1,630

(Loss) income from discontinued operations	(3,612)		157		646
Income tax benefit (expense) from discontinued operations	19		(10)		(126)
Total from discontinued operations	$	(3,593)	$	147	$	520

Less: Net loss attributable to noncontrolling interest (2)	(34)		—		—

Net income applicable to common shareholders	$	1,485	$	5,461	$	4,678

(1)Excludes amortization or impairment of purchased intangibles in Property-Liability, which is included above in underwriting income.

(2)Reflects net loss attributable to noncontrolling interest in Property-Liability.


Reportable segments revenue information
	For the years ended December 31,
($ in millions)	2021		2020		2019
Property-Liability
Insurance premiums
Auto	$	27,623	$	24,640	$	24,188
Homeowners	9,927		8,254		7,912
Other personal lines	2,077		1,919		1,861
Commercial lines	827		767		882

Allstate Protection	40,454		35,580		34,843
Run-off Property-Liability	—		—		—
Total Property-Liability insurance premiums	40,454		35,580		34,843
Other revenue	1,437		857		866
Net investment income	3,118		1,421		1,533
Net gains (losses) on investments and derivatives	1,021		990		1,470
Total Property-Liability	46,030		38,848		38,712

Protection Services
Protection Plans	1,132		909		633
Roadside assistance	192		188		238
Finance and insurance products	440		396		362
Intersegment premiums and service fees (1)	175		147		154
Other revenue	354		208		188
Net investment income	43		44		42
Net gains (losses) on investments and derivatives	25		30		32
Total Protection Services	2,361		1,922		1,649

Allstate Health and Benefits
Employer voluntary benefits	1,031		1,094		1,145
Group health	350		—		—
Individual health	440		—		—
Other revenue	359		—		—
Net investment income	74		78		83
Net gains (losses) on investments and derivatives	7		8		12
Total Allstate Health and Benefits	2,261		1,180		1,240

Corporate and Other
Other revenue	22		—		—
Net investment income	58		47		70
Net gains (losses) on investments and derivatives	31		59		24
Total Corporate and Other	111		106		94

Intersegment eliminations (1)	(175)		(147)		(154)
Consolidated revenues	$	50,588	$	41,909	$	41,541

(1)Intersegment insurance premiums and service fees are primarily related to Arity and Allstate Roadside and are eliminated in the consolidated financial statements.


Additional significant financial performance data
	For the years ended December 31,
($ in millions)	2021		2020		2019
Amortization of DAC
Property-Liability	$	5,313	$	4,642	$	4,649
Protection Services	795		658		543
Allstate Health and Benefits	144		177		161
Consolidated	$	6,252	$	5,477	$	5,353


Income tax expense (benefit)
Property-Liability	$	1,151	$	1,382	$	1,196
Protection Services	39		26		(18)
Allstate Health and Benefits	50		28		35
Corporate and Other	49		(63)		(97)
Consolidated	$	1,289	$	1,373	$	1,116

Interest expense is primarily incurred in the Corporate and Other segment. Capital expenditures for long-lived assets are generally made in Property-Liability as the Company does not allocate assets to the Allstate Protection and Run-off Property-Liability segments. A portion of these long-lived assets are used by entities included in the Protection Services, Allstate Health and Benefits and Corporate and Other segments and, accordingly, are charged to expenses in proportion to their use.


Reportable segment total assets, investments and deferred policy acquisition costs
	As of December 31,
($ in millions)	2021		2020
Assets
Property-Liability	$	84,846	$	69,171
Protection Services	6,909		6,177
Allstate Health and Benefits	4,015		2,905
Corporate and Other	3,670		5,603
Assets held for sale	—		42,131
Consolidated	$	99,440	$	125,987

Investments (1)
Property-Liability	$	57,258	$	50,134
Protection Services	1,890		1,822
Allstate Health and Benefits	2,191		2,012
Corporate and Other	3,362		5,572
Consolidated	$	64,701	$	59,540

Deferred policy acquisition costs
Property-Liability	$	1,951	$	1,608
Protection Services	2,294		1,696
Allstate Health and Benefits	477		470
Consolidated	$	4,722	$	3,774

(1)The balances reflect the elimination of related party investments between segments.