Consolidated Statement of Income (Loss) (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 |
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| Revenues | |||||
| Premiums | $ 10,243 | $ 9,216 | $ 20,369 | $ 18,070 | |
| Net investment income | 885 | 712 | 1,731 | 1,375 | |
| Fee income | 115 | 106 | 224 | 212 | |
| Net realized investment losses | (65) | (35) | (30) | (29) | |
| Other revenues | 105 | 99 | 217 | 174 | |
| Total revenues | 11,283 | 10,098 | 22,511 | 19,802 | |
| Claims and expenses | |||||
| Claims and claim adjustment expenses | 7,373 | 7,227 | 14,029 | 13,186 | |
| Amortization of deferred acquisition costs | 1,678 | 1,519 | 3,376 | 2,981 | |
| General and administrative expenses | 1,478 | 1,308 | 2,884 | 2,575 | |
| Interest expense | 98 | 92 | 196 | 180 | |
| Total claims and expenses | 10,627 | 10,146 | 20,485 | 18,922 | |
| Income (loss) before income taxes | 656 | (48) | 2,026 | 880 | |
| Income tax expense (benefit) | 122 | (34) | 369 | (81) | |
| Net income (loss) | $ 534 | $ (14) | $ 1,657 | $ 961 | |
| Net income (loss) per share | |||||
| Basic (in dollars per share) | $ 2.32 | $ (0.07) | $ 7.19 | $ 4.14 | |
| Diluted (in dollars per share) | $ 2.29 | $ (0.07) | $ 7.09 | $ 4.09 | |
| Weighted average number of common shares outstanding | |||||
| Basic (in shares) | 228.6 | 229.7 | 228.8 | 230.6 | |
| Diluted (in shares) | 231.5 | 229.7 | 231.8 | 233.3 | |
| Cash dividends declared per common share (in dollars per share) | $ 1.05 | $ 1.00 | $ 2.05 | $ 1.93 | |
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- Definition Fee income includes servicing carrier fees and revenues from large deductible policies and service contracts. No definition available.
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- Definition The total amount of expense recognized during the period for future policy benefits, claims and claims adjustment costs, and for selling, general and administrative costs. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of amortization expense (reversal of expense) for deferred policy acquisition costs. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of interest expense classified as operating and nonoperating. Includes, but is not limited to, cost of borrowing accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, after investment expense, of income earned from investments in securities and real estate. Includes, but is not limited to, real estate investment, policy loans, dividends, and interest. Excludes realized gain (loss) on investments. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of revenue and income classified as other. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, after effects of policies assumed or ceded, of expense related to the provision for policy benefits and costs incurred. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount, after premiums ceded to other entities and premiums assumed by the entity, of premiums earned. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of realized gain (loss) on investment. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- References No definition available.
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- Definition The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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