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Reportable Segments | 9 Months Ended
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Sep. 30, 2017
Segment Reporting [Abstract] |
Reportable Segments | Reportable Segments Summarized revenue data for each of the Company’s reportable segments are as follows:
($ in millions) | Three months ended September 30, |  | Nine months ended September 30,
| 2017 |  | 2016 |  | 2017 |  | 2016
Property-Liability |  |  |  |  |  |  |  |  |  |  |
Property-liability insurance premiums |  |  |  |  |  |  |  |  |  |  |
Auto | $ | 5,502 |  |  | $ | 5,353 |  |  | $ | 16,327 |  |  | $ | 15,879 |
Homeowners | 1,832 |  |  | 1,813 |  |  | 5,462 |  |  | 5,438 |
Other personal lines | 439 |  |  | 426 |  |  | 1,306 |  |  | 1,271 |
Commercial lines | 124 |  |  | 127 |  |  | 367 |  |  | 383 |
Other business lines | 146 |  |  | 150 |  |  | 429 |  |  | 435 |
SquareTrade | 78 |  |  | — |  |  | 207 |  |  | — |
Allstate Protection | 8,121 |  |  | 7,869 |  |  | 24,098 |  |  | 23,406 |
Discontinued Lines and Coverages | — |  |  | — |  |  | — |  |  | — |
Total property-liability insurance premiums | 8,121 |  |  | 7,869 |  |  | 24,098 |  |  | 23,406 |
Net investment income | 372 |  |  | 310 |  |  | 1,074 |  |  | 928 |
Realized capital gains and losses | 82 |  |  | 53 |  |  | 302 |  |  | (20 | )
Total Property-Liability | 8,575 |  |  | 8,232 |  |  | 25,474 |  |  | 24,314 |
Allstate Financial |  |  |  |  |  |  |  |  |  |  |
Life and annuity premiums and contract charges |  |  |  |  |  |  |  |  |  |  |
Premiums |  |  |  |  |  |  |
Traditional life insurance | 153 |  |  | 145 |  |  | 450 |  |  | 422 |
Accident and health insurance | 232 |  |  | 216 |  |  | 697 |  |  | 646 |
Total premiums | 385 |  |  | 361 |  |  | 1,147 |  |  | 1,068 |
Contract charges |  |  |  |  |  |  |
Interest-sensitive life insurance | 204 |  |  | 206 |  |  | 620 |  |  | 623 |
Fixed annuities | 4 |  |  | 4 |  |  | 10 |  |  | 10 |
Total contract charges | 208 |  |  | 210 |  |  | 630 |  |  | 633 |
Total life and annuity premiums and contract charges | 593 |  |  | 571 |  |  | 1,777 |  |  | 1,701 |
Net investment income | 461 |  |  | 427 |  |  | 1,383 |  |  | 1,281 |
Realized capital gains and losses | 21 |  |  | (21 | ) |  | 16 |  |  | (70 | )
Total Allstate Financial | 1,075 |  |  | 977 |  |  | 3,176 |  |  | 2,912 |
Corporate and Other |  |  |  |  |  |  |  |  |  |  |
Net investment income | 10 |  |  | 11 |  |  | 31 |  |  | 32 |
Realized capital gains and losses | — |  |  | 1 |  |  | — |  |  | (2 | )
Total Corporate and Other | 10 |  |  | 12 |  |  | 31 |  |  | 30 |
Consolidated revenues | $ | 9,660 |  |  | $ | 9,221 |  |  | $ | 28,681 |  |  | $ | 27,256 |
Summarized financial performance data for each of the Company’s reportable segments are as follows:
($ in millions) | Three months ended September 30, |  | Nine months ended September 30,
| 2017 |  | 2016 |  | 2017 |  | 2016
Property-Liability |  |  |  |  |  |  |  |  |  |  |
Underwriting income |  |  |  |  |  |  |  |  |  |  |
Allstate Protection | $ | 517 |  |  | $ | 455 |  |  | $ | 1,258 |  |  | $ | 518 |
Discontinued Lines and Coverages | (88 | ) |  | (100 | ) |  | (95 | ) |  | (104 | )
Total underwriting income | 429 |  |  | 355 |  |  | 1,163 |  |  | 414 |
Net investment income | 372 |  |  | 310 |  |  | 1,074 |  |  | 928 |
Income tax expense on operations | (252 | ) |  | (218 | ) |  | (703 | ) |  | (429 | )
Realized capital gains and losses, after-tax | 54 |  |  | 36 |  |  | 199 |  |  | (10 | )
Gain on disposition of operations, after-tax | 1 |  |  | — |  |  | 7 |  |  | — |
Property-Liability net income applicable to common shareholders | 604 |  |  | 483 |  |  | 1,740 |  |  | 903 |
Allstate Financial |  |  |  |  |  |  |  |  |  |  |
Life and annuity premiums and contract charges | 593 |  |  | 571 |  |  | 1,777 |  |  | 1,701 |
Net investment income | 461 |  |  | 427 |  |  | 1,383 |  |  | 1,281 |
Contract benefits and interest credited to contractholder funds | (629 | ) |  | (667 | ) |  | (1,935 | ) |  | (1,939 | )
Operating costs and expenses and amortization of deferred policy acquisition costs | (188 | ) |  | (194 | ) |  | (597 | ) |  | (577 | )
Restructuring and related charges | (1 | ) |  | — |  |  | (2 | ) |  | (1 | )
Income tax expense on operations | (79 | ) |  | (43 | ) |  | (206 | ) |  | (147 | )
Operating income | 157 |  |  | 94 |  |  | 420 |  |  | 318 |
Realized capital gains and losses, after-tax | 13 |  |  | (14 | ) |  | 9 |  |  | (46 | )
Valuation changes on embedded derivatives that are not hedged, after-tax | (1 | ) |  | — |  |  | (2 | ) |  | (8 | )
DAC and DSI amortization related to realized capital gains and losses and valuation changes on embedded derivatives that are not hedged, after-tax | (2 | ) |  | (1 | ) |  | (8 | ) |  | (3 | )
Gain on disposition of operations, after-tax | 1 |  |  | 1 |  |  | 3 |  |  | 3 |
Allstate Financial net income applicable to common shareholders | 168 |  |  | 80 |  |  | 422 |  |  | 264 |
Corporate and Other |  |  |  |  |  |  |  |  |  |
Net investment income | 10 |  |  | 11 |  |  | 31 |  |  | 32 |
Operating costs and expenses | (175 | ) |  | (80 | ) |  | (360 | ) |  | (238 | )
Income tax benefit on operations | 60 |  |  | 26 |  |  | 121 |  |  | 77 |
Preferred stock dividends | (29 | ) |  | (29 | ) |  | (87 | ) |  | (87 | )
Operating loss | (134 | ) |  | (72 | ) |  | (295 | ) |  | (216 | )
Realized capital gains and losses, after-tax | — |  |  | — |  |  | — |  |  | (1 | )
Business combination expenses, after-tax | (1 | ) |  | — |  |  | (14 | ) |  | — |
Corporate and Other net loss applicable to common shareholders | (135 | ) |  | (72 | ) |  | (309 | ) |  | (217 | )
Consolidated net income applicable to common shareholders | $ | 637 |  |  | $ | 491 |  |  | $ | 1,853 |  |  | $ | 950 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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