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 85.4% of Allstate’s 2022 consolidated revenues. Allstate Protection primarily operates in the U.S. (all 50 states and the District of Columbia (“D.C.”)) and Canada. For 2022, the top geographic locations for statutory direct premiums for the Allstate Protection segment were Texas, California, New York and Florida. No other jurisdiction accounted for more than 5% of statutory direct premiums for Allstate Protection. Revenues from external customers generated outside the United States were $1.94 billion, $1.86 billion and $1.57 billion in 2022, 2021 and 2020, 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 operates 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 $258 million, $232 million and $188 million in 2022, 2021 and 2020, 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 2022, the top geographic locations for statutory direct accident, health and life insurance premiums were Florida, Texas, Georgia and Ohio. No other jurisdiction accounted for more than 5% of statutory direct accident, health and life 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.

Beginning in the first quarter of 2021, 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
•			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
•			Gain or loss on disposition
•			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)	2022		2021		2020
Underwriting income (loss) by segment
Allstate Protection	$	(2,782)	$	1,785	$	4,569
Run-off Property-Liability	(129)		(120)		(144)
Total Property-Liability	(2,911)		1,665		4,425

Adjusted net income (loss) by segment, after-tax
Protection Services	169		179		153
Allstate Health and Benefits	222		208		96
Corporate and Other	(422)		(433)		(428)

Reconciling items
Property-Liability net investment income	2,190		3,118		1,421
Net gains (losses) on investments and derivatives	(1,072)		1,084		1,087
Pension and other postretirement remeasurement gains (losses)	(116)		644		51

Curtailment gains (losses)	—		—		8
Business combination expenses and amortization of purchased intangibles (1)	(113)		(157)		(106)
Business combination fair value adjustment	—		6		—
Gain (loss) on disposition (2)	89		—		—

Income tax benefit (expense) on reconciling items and other	496		(1,270)		(1,393)
Total reconciling items	1,474		3,425		1,068

Income (loss) from discontinued operations	—		(3,612)		157
Income tax benefit (expense) from discontinued operations	—		19		(10)
Total from discontinued operations	$	—	$	(3,593)	$	147

Less: Net loss attributable to noncontrolling interest (3)	(52)		(34)		—

Net (loss) income applicable to common shareholders	$	(1,416)	$	1,485	$	5,461

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

(2)Includes $83 million related to the gain on sale of headquarters in the fourth quarter of 2022 reported as other revenue in Corporate and Other segment.

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


Reportable segments revenue information
	For the years ended December 31,
($ in millions)	2022		2021		2020
Property-Liability
Insurance premiums
Auto	$	29,715	$	27,623	$	24,640
Homeowners	10,912		9,927		8,254
Other personal lines	2,159		2,077		1,919
Commercial lines	1,123		827		767
Allstate Protection	43,909		40,454		35,580
Run-off Property-Liability	—		—		—
Total Property-Liability insurance premiums	43,909		40,454		35,580
Other revenue	1,416		1,437		857
Net investment income	2,190		3,118		1,421
Net gains (losses) on investments and derivatives	(877)		1,021		990
Total Property-Liability	46,638		46,030		38,848

Protection Services
Protection Plans	1,307		1,132		909
Roadside assistance	202		192		188
Finance and insurance products	486		440		396
Intersegment premiums and service fees (1)	149		175		147
Other revenue	347		354		208
Net investment income	48		43		44
Net gains (losses) on investments and derivatives	(52)		25		30
Total Protection Services	2,487		2,361		1,922

Allstate Health and Benefits
Employer voluntary benefits	1,036		1,031		1,094
Group health	385		350		—
Individual health	412		440		—
Other revenue	402		359		—
Net investment income	69		74		78
Net gains (losses) on investments and derivatives	(44)		7		8
Total Allstate Health and Benefits	2,260		2,261		1,180

Corporate and Other
Other revenue	179		22		—
Net investment income	96		58		47
Net gains (losses) on investments and derivatives	(99)		31		59
Total Corporate and Other	176		111		106

Intersegment eliminations (1)	(149)		(175)		(147)
Consolidated revenues	$	51,412	$	50,588	$	41,909

(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)	2022		2021		2020
Amortization of DAC
Property-Liability	$	5,570	$	5,313	$	4,642
Protection Services	928		795		658
Allstate Health and Benefits	146		144		177
Consolidated	$	6,644	$	6,252	$	5,477

Income tax expense (benefit)
Property-Liability	$	(427)	$	1,151	$	1,382
Protection Services	5		39		26
Allstate Health and Benefits	39		50		28
Corporate and Other	(111)		49		(63)
Consolidated	$	(494)	$	1,289	$	1,373

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)	2022		2021
Assets
Property-Liability	$	82,744	$	84,846
Protection Services	6,922		6,909
Allstate Health and Benefits	3,720		4,015
Corporate and Other	4,571		3,670
Consolidated	$	97,957	$	99,440

Investments (1)
Property-Liability	$	54,011	$	57,258
Protection Services	1,917		1,890
Allstate Health and Benefits	1,872		2,191
Corporate and Other	4,029		3,362
Consolidated	$	61,829	$	64,701

Deferred policy acquisition costs
Property-Liability	$	2,146	$	1,951
Protection Services	2,768		2,294
Allstate Health and Benefits	504		477
Consolidated	$	5,418	$	4,722

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