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Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended
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Dec. 31, 2017
Quarterly Financial Data [Abstract] |
Schedule of quarterly financial information | The following tables present unaudited quarterly financial data.
2017 |  |  |  |  |  |  |  |  |
(In millions, except per share data) | First |  | Second |  | Third |  | Fourth |  | Full Year
Revenues | $ | 2,330 |  |  | $ | 2,366 |  |  | $ | 2,398 |  |  | $ | 2,448 |  |  | $ | 9,542 |
Net income (loss) (1)(2) | $ | 260 |  |  | $ | 272 |  |  | $ | 144 |  |  | $ | 223 |  |  | $ | 899 |
Basic earnings (loss) per share | $ | 0.96 |  |  | $ | 1.01 |  |  | $ | 0.53 |  |  | $ | 0.82 |  |  | $ | 3.32 |
Diluted earnings (loss) per share | $ | 0.96 |  |  | $ | 1.00 |  |  | $ | 0.53 |  |  | $ | 0.82 |  |  | $ | 3.30 |
2016 |  |  |  |  |  |  |  |  |
(In millions, except per share data) | First |  | Second |  | Third |  | Fourth |  | Full Year
Revenues | $ | 2,195 |  |  | $ | 2,348 |  |  | $ | 2,433 |  |  | $ | 2,390 |  |  | $ | 9,366 |
Net income (loss) (3) | $ | 66 |  |  | $ | 209 |  |  | $ | 343 |  |  | $ | 241 |  |  | $ | 859 |
Basic earnings (loss) per share | $ | 0.25 |  |  | $ | 0.77 |  |  | $ | 1.27 |  |  | $ | 0.89 |  |  | $ | 3.18 |
Diluted earnings (loss) per share | $ | 0.24 |  |  | $ | 0.77 |  |  | $ | 1.26 |  |  | $ | 0.89 |  |  | $ | 3.17 |
(1) | Net income (loss) in the third quarter of 2017 included catastrophe losses, net of reinsurance and including reinstatement premiums, of $188 million related to Hurricanes Harvey, Irma and Maria.
(2) Net income (loss) in the fourth quarter of 2017 included a one-time non-cash increase to Income tax expense of $83 million as a result of Tax Reform Legislation.
(3) | Net income (loss) in the first quarter of 2016 included a charge related to the application of retroactive reinsurance accounting to adverse reserve development ceded under the 2010 A&EP Loss Portfolio Transfer in our Corporate & Other segment.

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- Definition Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=84173487&loc=d3e1280-108306 + Details
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