170 / 188
(In millions, except for per-share amounts)
March 31,
2016
June 30,
2016
September 30,
2016
December 31,
2016
Net premium income
$4,602
$4,823
$5,022
$4,778
Net investment income
801
822
842
813
Realized investment gains (losses)
73
(187)
(146)
137
Other income (loss)
(25)
(21)
(2)
227
Total revenues
5,451
5,437
5,716
5,955
Total benefits and expenses
4,334
4,603
4,753
4,802
Earnings before income taxes
1,117
834
963
1,153
Total income tax
386
286
334
402
Net earnings
$ 731
$ 548
$ 629
$ 751
Net earnings per basic share
$ 1.75
$ 1.33
$ 1.54
$ 1.85
Net earnings per diluted share
1.74
1.32
1.53
1.84
Quarterly amounts may not agree in total to the corresponding annual amounts due to rounding.
(In millions, except for per-share amounts)
March 31,
2015
June 30,
2015
September 30,
2015
December 31,
2015
Net premium income
$4,432
$4,364
$4,380
$4,394
Net investment income
782
777
784
792
Realized investment gains (losses)
13
127
(114)
114
Other income (loss)
(1)
19
(10)
19
Total revenues
5,226
5,287
5,040
5,319
Total benefits and expenses
4,213
4,413
4,176
4,209
Earnings before income taxes
1,013
874
864
1,110
Total income tax
350
301
297
380
Net earnings
$ 663
$ 573
$ 567
$ 730
Net earnings per basic share
$ 1.52
$ 1.33
$ 1.32
$ 1.72
Net earnings per diluted share
1.51
1.32
1.32
1.71
Quarterly amounts may not agree in total to the corresponding annual amounts due to rounding.
163
17. SUBSEQUENT EVENTS
In January 2017, the Parent Company issued 60.0 billion yen of senior notes through a U.S. public debt offering. The
notes bear interest at a fixed rate of .932% per annum, payable semi-annually, and have a 10-year maturity. These notes
may only be redeemed before maturity, in whole but not in part, upon the occurrence of certain changes affecting U.S.
taxation, as specified in the indenture governing the terms of the issuance.