XML 15 R4.htm IDEA: XBRL DOCUMENT v3.21.1
Consolidated Statements Of Operations and Comprehensive Income - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Revenues    
Net premiums written $ 8,662 $ 7,977
Increase in unearned premiums (441) (183)
Net premiums earned 8,221 7,794
Net investment income 863 861
Realized Investment Gains (Losses) 887 (958)
Total revenues 9,971 7,697
Expenses    
Losses and loss expenses 5,053 4,485
Policy benefits 167 129
Policy acquisition costs 1,665 1,615
Administrative expenses 744 741
Interest expense 122 132
Other (income) expense (490) 55
Amortization of purchased intangibles 72 73
Total expenses 7,333 7,230
Income before income tax 2,638 467
Income tax expense (benefit) (includes $4 and $(40) on unrealized gains and losses reclassified from AOCI) 338 215
Net income 2,300 252
Other comprehensive income (loss)    
Unrealized depreciation (2,293) (2,479)
Reclassification adjustment for net realized (gains) losses included in net income (24) 319
Unrealized appreciation (Depreciation) after reclassification adjustment (2,317) (2,160)
Change in:    
Cumulative foreign currency translation adjustment 22 (859)
Postretirement benefit liability adjustment (28) (14)
Other comprehensive loss, before income tax (2,323) (3,033)
Income tax benefit related to OCI items 412 321
Other comprehensive loss (1,911) (2,712)
Comprehensive income (loss) $ 389 $ (2,460)
Earnings per share    
Basic earnings per share $ 5.10 $ 0.56
Diluted earnings per share $ 5.07 $ 0.55