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Consolidated Statements of Operations - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Revenues      
Earned premiums $ 15,869 $ 14,141 $ 13,697
Fee income 1,313 1,168 1,041
Net investment income 1,780 1,603 1,577
Net realized capital gains (losses):      
Total other-than-temporary impairment (“OTTI”) losses (7) (15) (35)
OTTI losses recognized in other comprehensive income 6 7 8
Net OTTI losses recognized in earnings (1) (8) (27)
Other net realized capital gains (losses) (111) 173 (83)
Total net realized capital gains (losses) (112) 165 (110)
Other revenues 105 85 86
Total revenues 18,955 17,162 16,291
Benefits, losses and expenses      
Benefits, losses and loss adjustment expenses 11,165 10,174 9,961
Amortization of deferred policy acquisition costs (DAC) 1,384 1,372 1,377
Insurance operating costs and other expenses 4,281 4,563 3,525
Loss on extinguishment of debt (6) 0 0
Loss on reinsurance transaction 0 0 650
Interest expense 298 316 327
Amortization of other intangible assets 68 14 4
Total benefits, losses and expenses 17,202 16,439 15,844
Income from continuing operations before income taxes 1,753 723 447
Income tax expense (benefit) 268 985 (166)
Income (loss) from continuing operations, net of tax 1,485 (262) 613
Income (loss) from discontinued operations, net of tax 322 (2,869) 283
Net income (loss) 1,807 (3,131) 896
Preferred stock dividends 6 0 0
Net income (loss) available to common stockholders $ 1,801 $ (3,131) $ 896
Earnings per common share      
Income (loss) from continuing operations Basic $ 4.13 $ (0.72) $ 1.58
Income (loss) from continuing operations Diluted 4.06 (0.72) 1.55
Net income (loss) Basic 5.03 (8.61) 2.31
Net income (loss) Diluted $ 4.95 $ (8.61) $ 2.27