XML 13 R1.htm IDEA: XBRL DOCUMENT  v2.3.0.11
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Millions, except Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Revenues        
Premiums earned $ 1,047 $ 989 $ 2,077 $ 1,967
Net investment income 113 108 218 212
Net realized investment gains (losses) 39 (213) 188 (88)
Net impairment losses recognized in earnings 0 (4) 0 (6)
Equity in earnings of limited partnerships 38 27 110 30
Other income 8 9 17 17
Total revenues 1,245 916 2,610 2,132
Benefits and expenses        
Insurance losses and loss expenses 1,170 737 1,876 1,498
Policy acquisition and underwriting expenses 249 230 496 457
Total benefits and expenses 1,419 967 2,372 1,955
(Loss) income from operations before income taxes and noncontrolling interest (174) (51) 238 177
Provision for income taxes (67) (20) 71 46
Net (loss) income (107) (31) 167 131
Less: Net (loss) income attributable to noncontrolling interest in consolidated entity - Exchange (159) (80) 71 35
Net income attributable to Indemnity 52 49 96 96
Class A | Indemnity
       
Net income attributable to Indemnity per share        
Common stock - basic (in dollars per share) $ 1.05 $ 0.96 $ 1.93 $ 1.87
Common stock - diluted (in dollars per share) $ 0.94 $ 0.86 $ 1.72 $ 1.68
Weighted average shares outstanding attributable to Indemnity - Basic        
Common stock - basic (in shares) 49,250,061 51,013,358 49,518,069 51,099,071
Weighted average shares outstanding attributable to Indemnity - Diluted        
Common stock - diluted (in shares) 55,436,976 57,197,603 55,704,984 57,282,684
Dividends declared per share        
Common stock (in dollars per share) $ 0.515 $ 0.48 $ 1.03 $ 0.96
Class B | Indemnity
       
Net income attributable to Indemnity per share        
Common stock - basic (in dollars per share) $ 158.33 $ 138.21 $ 291.07 $ 271.03
Common stock - diluted (in dollars per share) $ 158.33 $ 138.21 $ 291.07 $ 271.03
Weighted average shares outstanding attributable to Indemnity - Basic        
Common stock - basic (in shares) 2,546 2,546 2,546 2,546
Weighted average shares outstanding attributable to Indemnity - Diluted        
Common stock - diluted (in shares) 2,546 2,546 2,546 2,546
Dividends declared per share        
Common stock (in dollars per share) $ 77.25 $ 72.00 $ 154.500 $ 144.000
Indemnity
       
Revenues        
Net investment income 4 9 8 18
Net realized investment gains (losses) 6 (3) 7 2
Net impairment losses recognized in earnings 0 (1) 0 (1)
Benefits and expenses        
(Loss) income from operations before income taxes and noncontrolling interest 81 74 148 141
Provision for income taxes 29 25 52 45
Net (loss) income 52 49 96 96
Exchange
       
Revenues        
Net investment income 109 99 210 194
Net realized investment gains (losses) 33 (210) 181 (90)
Net impairment losses recognized in earnings 0 (3) 0 (5)
Benefits and expenses        
Net (loss) income     $ 71