Allstate 2013 Annual Report Download - page 287

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Summarized financial performance data for each of the Company’s reportable segments for the years ended
December 31 are as follows:
($ in millions) 2012 2011 2010
Net income
Property-Liability
Underwriting income (loss)
Allstate Protection $ 1,253 $ (857) $ 525
Discontinued Lines and Coverages (53) (25) (31)
Total underwriting income (loss) 1,200 (882) 494
Net investment income 1,326 1,201 1,189
Income tax (expense) benefit on operations (779) 30 (426)
Realized capital gains and losses, after-tax 221 54 (207)
Gain on disposition of operations, after-tax — — 3
Property-Liability net income 1,968 403 1,053
Allstate Financial
Life and annuity premiums and contract
charges 2,241 2,238 2,168
Net investment income 2,647 2,716 2,853
Periodic settlements and accruals on non-hedge
derivative instruments 55 70 51
Contract benefits and interest credited to
contractholder funds (3,252) (3,378) (3,613)
Operating costs and expenses and amortization
of deferred policy acquisition costs (926) (898) (804)
Restructuring and related charges — (1) 3
Income tax expense on operations (236) (240) (214)
Operating income 529 507 444
Realized capital gains and losses, after-tax (8) 250 (337)
Valuation changes on embedded derivatives
that are not hedged, after-tax 82 (12) —
DAC and DSI amortization related to realized
capital gains and losses and valuation
changes on embedded derivatives that are
not hedged, after-tax (42) (108) (29)
DAC and DSI unlocking related to realized
capital gains and losses, after-tax 4 3 (12)
Reclassification of periodic settlements and
accruals on non-hedge derivative
instruments, after-tax (36) (45) (33)
Gain (loss) on disposition of operations,
after-tax 12 (5) 9
Allstate Financial net income 541 590 42
Corporate and Other
Service fees (1) 4711
Net investment income 37 54 60
Operating costs and expenses (1) (383) (403) (390)
Income tax benefit on operations 136 126 128
Operating loss (206) (216) (191)
Realized capital gains and losses, after-tax 3 20 7
Business combination expenses, after-tax — (10) —
Corporate and Other net loss (203) (206) (184)
Consolidated net income $ 2,306 $ 787 $ 911
(1) For presentation in the Consolidated Statements of Operations, service fees of the Corporate and Other segment are
reclassified to operating costs and expenses.
171