$ALL-PI

ALLSTATE CORP

CIK:0000899051|SEC Filings

Condensed Consolidated Statements of Operations (unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues
Other revenue	$ 728	$ 747	$ 1,447	$ 1,509
Net investment income	1,009	754	1,947	1,608
Net gains (losses) on investments and derivatives	1,055	(144)	650	(493)
Total revenues	18,596	16,633	35,537	33,085
Costs and expenses
Accident, health and other policy benefits	72	188	148	521
Amortization of deferred policy acquisition costs	2,202	2,076	4,380	4,163
Operating costs and expenses	2,315	2,135	4,540	4,380
Pension and other postretirement remeasurement (gains) losses	(146)	0	(127)	78
Restructuring and related charges	7	15	12	31
Amortization of purchased intangibles	46	57	93	116
Interest expense	96	100	194	200
Total costs and expenses	14,454	14,820	28,287	30,553
Gain on disposition of operations	0	890	0	890
Income from operations before income tax expense	4,142	2,703	7,250	3,422
Income tax expense	871	604	1,521	727
Net income	3,271	2,099	5,729	2,695
Less: Net income (loss) attributable to noncontrolling interest	0	(10)	1	(9)
Net income attributable to Allstate	3,271	2,109	5,728	2,704
Less: Preferred stock dividends	30	30	59	59
Net income applicable to common shareholders, basic	3,241	2,079	5,669	2,645
Net income applicable to common shareholders, diluted	$ 3,241	$ 2,079	$ 5,669	$ 2,645
Earnings per common share:
Net income applicable to common shareholders per common share - Basic (in dollars per share)	$ 12.66	$ 7.86	$ 22.00	$ 9.98
Weighted average common shares - Basic (in shares)	256.0	264.6	257.7	264.9
Net income applicable to common shareholders per common share - Diluted (in dollars per share)	$ 12.51	$ 7.76	$ 21.73	$ 9.85
Weighted average common shares - Diluted (in shares)	259.1	267.9	260.9	268.4
Property and casualty insurance premiums
Revenues
Insurance premiums and contract charges	$ 15,670	$ 15,041	$ 31,223	$ 29,739
Costs and expenses
Property and casualty insurance claims and claims expense	9,862	10,249	19,047	21,064
Accident and health insurance premiums and contract charges
Revenues
Insurance premiums and contract charges	$ 134	$ 235	$ 270	$ 722

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net income	$ 5,729	$ 2,695
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and other non-cash items	187	259
Net (gains) losses on investments and derivatives	(650)	493
Pension and other postretirement remeasurement (gains) losses	(127)	78
Gain on disposition of operations	0	(890)
Changes in:
Claims and claims expense and other insurance reserves	(22)	2,139
Unearned premiums	350	1,040
Deferred policy acquisition costs	12	(132)
Premium installment receivables, net	(417)	(625)
Reinsurance and indemnification recoverables, net	619	(708)
Income taxes	355	(437)
Other operating assets and liabilities	160	(75)
Net cash provided by operating activities	6,196	3,837
Proceeds from sales
Fixed income securities	41,555	32,392
Equity securities	9,412	4,608
Limited partnership interests	702	607
Other investments	75	1
Investment collections
Fixed income securities	436	355
Mortgage loans	82	53
Other investments	46	15
Investment purchases
Fixed income securities	(43,019)	(33,166)
Equity securities	(11,632)	(2,660)
Limited partnership interests	(743)	(690)
Mortgage loans	(47)	(75)
Other investments	(152)	(180)
Change in short-term and other investments, net	(420)	(5,555)
Purchases of property and equipment, net	(83)	(91)
Proceeds from disposition of operations, net of cash transferred	0	1,885
Net cash used in investing activities	(3,788)	(2,501)
Cash flows from financing activities
Contractholder fund deposits	0	30
Contractholder fund withdrawals	0	(15)
Dividends paid on common stock	(541)	(509)
Dividends paid on preferred stock	(59)	(59)
Treasury stock purchases	(1,665)	(439)
Shares reissued under equity incentive plans, net	41	26
Other	(22)	12
Net cash used in financing activities	(2,246)	(954)
Net increase in cash	162	382
Cash at beginning of period	678	704
Less: Cash classified as assets held for sale at end of period	0	91
Cash at end of period	$ 840	$ 995

Condensed Consolidated Statements of Financial Position (unaudited) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Investments
Fixed income securities, at fair value (amortized cost, net $60,902 and $58,730)	$ 60,809	$ 59,115
Equity securities, at fair value (cost $10,071 and $8,026)	11,159	8,398
Mortgage loans, net	842	879
Limited partnership interests	8,967	8,844
Short-term, at fair value (amortized cost $4,874 and $4,888)	4,872	4,887
Other investments, net	1,153	1,114
Total investments	87,802	83,237
Cash	840	678
Premium installment receivables, net	11,864	11,474
Deferred policy acquisition costs	6,139	6,163
Reinsurance and indemnification recoverables, net	7,880	8,501
Accrued investment income	730	708
Property and equipment, net	591	627
Goodwill	3,118	3,118
Other assets, net	5,792	5,252
Total assets	124,756	119,758
Liabilities
Reserve for property and casualty insurance claims and claims expense	40,979	41,079
Unearned premiums	29,388	29,080
Claim payments outstanding	1,552	1,419
Deferred income taxes	172	227
Other liabilities and accrued expenses	11,495	9,874
Debt	7,492	7,490
Total liabilities	91,078	89,169
Commitments and Contingent Liabilities (Note 11)
Equity
Preferred stock and additional capital paid-in, $1 par value, 25 million shares authorized, 82.0 thousand shares issued and outstanding, $2,050 aggregate liquidation preference	2,001	2,001
Common stock, $.01 par value, 2.0 billion shares authorized and 900 million issued, 254 million and 260 million shares outstanding	9	9
Additional capital paid-in	4,219	4,158
Retained income	67,504	62,393
Treasury stock, at cost (646 million and 640 million shares)	(39,842)	(38,206)
Accumulated other comprehensive income (loss):
Unrealized net capital gains and losses	(79)	297
Unrealized foreign currency translation adjustments	(126)	(55)
Unamortized pension and other postretirement prior service credit	10	11
Discount rate for reserve for future policy benefits	2	2
Total accumulated other comprehensive (loss) income	(193)	255
Total Allstate shareholders’ equity	33,698	30,610
Noncontrolling interest	(20)	(21)
Total equity	33,678	30,589
Total liabilities and equity	$ 124,756	$ 119,758