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CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Total revenues $ 1,226 $ 1,209 $ 2,490 $ 2,455
Insurance costs 916 868 1,823 1,720
Cost of providing services 75 79 154 156
Sales and marketing 72 70 144 139
General and administrative 47 60 95 103
Systems development and programming 17 17 35 34
Depreciation and amortization of intangible assets 19 18 37 36
Total costs and operating expenses 1,146 1,112 2,288 2,188
Operating income 80 97 202 267
Other income (expense):        
Interest expense, bank fees and other (16) (6) (32) (13)
Interest income 17 20 35 38
Income before provision for income taxes 81 111 205 292
Income taxes 21 28 53 78
Net income 60 83 152 214
Other comprehensive income (loss), net of income taxes 0 (4) (3) (1)
Comprehensive income $ 60 $ 79 $ 149 $ 213
Net income per share:        
Basic (in dollars per share) $ 1.21 $ 1.40 $ 3.01 $ 3.58
Diluted (in dollars per share) $ 1.20 $ 1.38 $ 2.98 $ 3.56
Weighted average shares:        
Basic (in shares) 50 60 50 60
Diluted (in shares) 51 60 51 60
Professional service revenues        
Total revenues $ 186 $ 177 $ 400 $ 382
Insurance service revenues        
Total revenues $ 1,040 $ 1,032 $ 2,090 $ 2,073