XML 29 R11.htm IDEA: XBRL DOCUMENT v3.24.2
Reportable Segments
6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Reportable Segments
Note 3Reportable 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 segments and adjusted net income for the Protection Services, Allstate Health and Benefits and Corporate and Other segments.
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.
Underwriting income is calculated as premiums earned and other revenue, less claims and claims expenses (“losses”), amortization of deferred policy
acquisition costs (“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
Amortization or impairment of purchased intangibles
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
Three months ended June 30,Six months ended June 30,
($ in millions)2024202320242023
Underwriting income (loss) by segment
Allstate Protection$(142)$(2,092)$761 $(3,090)
Run-off Property-Liability
(3)(2)(8)(5)
Total Property-Liability (145)(2,094)753 (3,095)
Adjusted net income (loss) by segment, after-tax
Protection Services55 41 109 75 
Allstate Health and Benefits
58 57 114 113 
Corporate and Other(104)(111)(210)(200)
Reconciling items
Allstate Protection and Run-off Property-Liability net investment income
643 544 1,345 1,053 
Net gains (losses) on investments and derivatives(103)(151)(267)(137)
Pension and other postretirement remeasurement gains (losses)40 11 93 
Amortization of purchased intangibles (1)
(19)(24)(37)(48)
Gain (loss) on disposition (8)
Non-recurring costs (2)
— (90)— (90)
Income tax (expense) benefit on Property-Liability and reconciling items (3)
(78)384 (337)476 
Total reconciling items453 695 720 1,348 
Less: Net income (loss) attributable to noncontrolling interest (4)
16 (23)(4)(24)
Net income (loss) applicable to common shareholders$301 $(1,389)$1,490 $(1,735)
(1)Excludes amortization of purchased intangibles in Property-Liability, which is already included above in underwriting income.
(2)Relates to settlement costs for non-recurring litigation that is outside of the ordinary course of business.
(3)The tax computation of the reporting segments and income tax benefit (expense) on reconciling items to net income (loss) are computed discretely based on the tax law of the jurisdictions applicable to the reporting entities.
(4)Reflects net income (loss) attributable to noncontrolling interest in Property-Liability.
Reportable segments revenue information
($ in millions)Three months ended June 30,Six months ended June 30,
2024202320242023
Property-Liability    
Insurance premiums    
Auto$9,079 $8,121 $17,857 $16,029 
Homeowners3,255 2,883 6,409 5,693 
Other personal lines701 587 1,360 1,149 
Commercial lines158 202 327 434 
Other business lines146 128 286 251 
Allstate Protection13,339 11,921 26,239 23,556 
Run-off Property-Liability
— — — — 
Total Property-Liability insurance premiums13,339 11,921 26,239 23,556 
Other revenue441 389 871 742 
Net investment income643 544 1,345 1,053 
Net gains (losses) on investments and derivatives(103)(135)(265)(123)
Total Property-Liability14,320 12,719 28,190 25,228 
Protection Services  
Protection plans453 373 892 734 
Roadside assistance34 48 81 97 
Protection and insurance products
126 128 252 256 
Intersegment premiums and service fees (1)
39 35 74 68 
Other revenue98 84 183 168 
Net investment income23 18 44 34 
Net gains (losses) on investments and derivatives(1)(4)(6)(5)
Total Protection Services772 682 1,520 1,352 
Allstate Health and Benefits
Employer voluntary benefits246 245 494 500 
Group health120 110 238 217 
Individual health108 98 220 199 
Other revenue121 101 255 202 
Net investment income25 21 48 40 
Net gains (losses) on investments and derivatives— 
Total Allstate Health and Benefits
620 576 1,257 1,161 
Corporate and Other    
Other revenue19 23 39 46 
Net investment income21 27 39 58 
Net gains (losses) on investments and derivatives(13)(12)
Total Corporate and Other41 37 80 92 
Intersegment eliminations (1)
(39)(35)(74)(68)
Consolidated revenues$15,714 $13,979 $30,973 $27,765 
(1)Intersegment insurance premiums and service fees are primarily related to Arity and Allstate Roadside and are eliminated in the condensed consolidated financial statements.