XML 38 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Millions, except Share data, unless otherwise specified
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Dec. 31, 2011
Revenues          
Premiums earned $ 1,109 $ 1,047 $ 2,196 $ 2,077  
Net investment income 113 113 221 218  
Net realized investment (losses) gains (107) 39 189 188  
Net impairment losses recognized in earnings 0 0 0 0  
Equity in earnings of limited partnerships 37 38 58 110  
Other income 8 8 16 17  
Total revenues 1,160 1,245 2,680 2,610  
Benefits and expenses          
Insurance losses and loss expenses 943 1,170 1,659 1,876  
Policy acquisition and underwriting expenses 287 249 557 496  
Total benefits and expenses 1,230 1,419 2,216 2,372  
(Loss) income from operations before income taxes and noncontrolling interest (70) (174) 464 238  
Provision for income taxes (32) (67) 148 71  
Net (loss) income (38) (107) 316 167 268
Less: Net (loss) income attributable to noncontrolling interest in consolidated entity - Exchange (81) (159) 237 71  
Net income attributable to Indemnity 43 52 79 96  
Indemnity
         
Revenues          
Net investment income 4 4 8 8  
Net realized investment (losses) gains (1) 6 2 7  
Benefits and expenses          
(Loss) income from operations before income taxes and noncontrolling interest 65 81 119 148  
Provision for income taxes 22 29 40 52  
Net (loss) income     79   169
Net income attributable to Indemnity $ 43 $ 52 $ 79 $ 96  
Class A | Indemnity
         
Net income attributable to Indemnity per share          
Common stock - basic (in dollars per share) $ 0.90 $ 1.05 $ 1.65 $ 1.93  
Common stock - diluted (in dollars per share) $ 0.80 $ 0.94 $ 1.47 $ 1.72  
Weighted average shares outstanding attributable to Indemnity - Basic          
Common stock - basic (in shares) 47,492,305 49,250,061 47,619,852 49,518,069  
Weighted average shares outstanding attributable to Indemnity- Diluted          
Common stock - diluted (in shares) 53,677,848 55,436,976 53,807,795 55,704,984  
Dividends declared per share          
Common stock (in dollars per share) $ 0.5525 $ 0.515 $ 1.105 $ 1.03 $ 2.0975
Class B | Indemnity
         
Net income attributable to Indemnity per share          
Common stock - basic (in dollars per share) $ 134.78 $ 158.33 $ 248.55 $ 291.07  
Common stock - diluted (in dollars per share) $ 134.78 $ 158.33 $ 248.55 $ 291.07  
Weighted average shares outstanding attributable to Indemnity - Basic          
Common stock - basic (in shares) 2,544 2,546 2,545 2,546  
Weighted average shares outstanding attributable to Indemnity- Diluted          
Common stock - diluted (in shares) 2,544 2,546 2,545 2,546  
Dividends declared per share          
Common stock (in dollars per share) $ 82.8750 $ 77.250 $ 165.7500 $ 154.5000 $ 314.6250