| Summary of Quarterly Financial Data |
The following table summarizes our quarterly financial data which,
in the opinion of management, reflects all adjustments, consisting
only of normal recurring adjustments, necessary for a fair
presentation of our results of operations (Amounts for the
individual quarters when aggregated may not agree to the full year
due to rounding):
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For the Three-Months Ended |
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(in millions, except for
per share data)
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March 31, 2017 |
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June 30, 2017 |
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Sept. 30, 2017 |
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Dec. 31, 2017 |
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Total revenue
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$ |
23,800 |
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$ |
28,275 |
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$ |
26,402 |
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$ |
27,095 |
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Total expenses
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20,697 |
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24,159 |
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25,298 |
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25,788 |
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Income before equity method investments
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3,103 |
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4,116 |
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1,104 |
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1,307 |
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Income (loss) from equity method investments
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4,171 |
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8,377 |
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6,876 |
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2,866 |
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Income before income taxes
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7,274 |
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12,493 |
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7,980 |
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4,173 |
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Income tax (expense) benefit
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(32 |
) |
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(83 |
) |
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(5 |
) |
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(766 |
) |
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Net income (loss)
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7,242 |
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|
12,410 |
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|
7,975 |
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|
3,407 |
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Net income (loss) attributable to controlling
stockholders
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$ |
7,199 |
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$ |
12,340 |
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$ |
7,933 |
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$ |
3,383 |
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Basic and diluted earnings per common share
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$ |
0.14 |
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$ |
0.23 |
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$ |
0.14 |
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$ |
0.06 |
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For the Three-Months Ended |
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(in millions, except for
per share data)
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March 31, 2016 |
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June 30, 2016 |
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Sept. 30, 2016 |
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Dec. 31, 2016 |
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Total revenue
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$ |
20,483 |
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$ |
21,845 |
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$ |
19,008 |
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$ |
19,862 |
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Total expenses
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17,509 |
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19,110 |
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16,951 |
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18,840 |
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Income before equity method investments
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2,974 |
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2,735 |
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|
2,057 |
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|
1,022 |
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Income (loss) from equity method investments
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|
270 |
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|
1,076 |
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|
1,331 |
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|
3,433 |
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Income before income taxes
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3,244 |
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|
3,811 |
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|
3,388 |
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|
4,455 |
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Income tax (expense) benefit
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(47 |
) |
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(36 |
) |
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(41 |
) |
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(18 |
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Net income (loss)
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3,197 |
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|
3,775 |
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|
3,347 |
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4,437 |
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Net income (loss) attributable to controlling
stockholders
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$ |
3,169 |
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$ |
3,747 |
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$ |
3,329 |
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$ |
4,408 |
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Basic and diluted earnings per common share
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$ |
0.07 |
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$ |
0.09 |
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$ |
0.07 |
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$ |
0.09 |
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