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Equity (Tables)
6 Months Ended
Jun. 30, 2024
Stockholders' Equity Note [Abstract]  
Rollforward of Common Stock Outstanding
The following table presents a rollforward of outstanding shares:
Six Months Ended June 30, 2024
Common
Stock Issued
Treasury
Stock
Common Stock
Outstanding
(in millions)
Shares, beginning of year1,906.7 (1,217.9)688.8 
Shares issued 6.1 6.1 
Shares repurchased (45.1)(45.1)
Shares, end of period1,906.7 (1,256.9)649.8 
Schedule of Accumulated Other Comprehensive Income (Loss)
The following table presents a rollforward of Accumulated other comprehensive income (loss):
(in millions)Unrealized
Appreciation
(Depreciation)
of Fixed Maturity
Securities on Which
Allowance for Credit
Losses Was Taken
Unrealized
Appreciation
(Depreciation)
of All Other
Investments
Change in Fair
Value of Market
Risk Benefits
Attributable to
Changes in
Our Own
Credit Risk
Change in the
discount rates
used to measure
traditional and
limited payment
long-duration
insurance contracts
Foreign
Currency
Translation
Adjustments
Retirement
Plan
Liabilities
Adjustment
Total
Balance, March 31, 2024, net of tax$(66)$(11,702)$(493)$1,535 $(3,329)$(814)$(14,869)
Change in unrealized appreciation (depreciation) of investments*
(19)(1,036)    (1,055)
Change in other (9)    (9)
Change in fair value of market risk benefits, net  159    159 
Change in discount rates   262   262 
Change in future policy benefits
 67     67 
Change in foreign currency translation adjustments
    85  85 
Change in net actuarial loss
     10 10 
Change in prior service cost
     1 1 
Change in deferred tax asset (liability)
3 52 (34)(72)13 (2)(40)
Corebridge deconsolidation, net of tax42 8,513 330 (1,583)(88) 7,214 
Total other comprehensive income26 7,587 455 (1,393)10 9 6,694 
Corebridge noncontrolling interests2 693 38 (120)(3) 610 
Balance, June 30, 2024, net of tax$(38)$(3,422)$ $22 $(3,322)$(805)$(7,565)
Balance, March 31, 2023, net of tax$(134)$(17,129)$(226)$2,150 $(3,094)$(896)$(19,329)
Change in unrealized appreciation (depreciation) of investments*
104 (2,383)— — — — (2,279)
Change in other— (159)— — — — (159)
Change in fair value of market risk benefits, net— — (241)— — — (241)
Change in discount rates— — — 531 — — 531 
Change in future policy benefits
— 137 — — — — 137 
Change in foreign currency translation adjustments
— — — — (25)— (25)
Change in net actuarial loss
— — — — — 78 78 
Change in prior service cost
— — — — — 
Change in deferred tax asset (liability)
(20)407 51 (158)(34)(28)218 
Total other comprehensive income (loss)84 (1,998)(190)373 (59)52 (1,738)
Corebridge noncontrolling interests2,125 54 (345)(10)(1)1,827 
Noncontrolling interests14 (347)(47)111 11 — (258)
Balance, June 30, 2023, net of tax$(60)$(16,655)$(315)$2,067 $(3,174)$(845)$(18,982)
(in millions)Unrealized
Appreciation
(Depreciation)
of Fixed Maturity
Securities on Which
Allowance for Credit
Losses Was Taken
Unrealized
Appreciation
(Depreciation)
of All Other
Investments
Change in Fair
Value of Market
Risk Benefits
Attributable to
Changes in
Our Own
Credit Risk
Change in the
discount rates
used to measure
traditional and
limited payment
long-duration
insurance contracts
Foreign
Currency
Translation
Adjustments
Retirement
Plan
Liabilities
Adjustment
Total
Balance, December 31, 2023, net of tax$(106)$(10,888)$(476)$1,233 $(2,979)$(821)$(14,037)
Change in unrealized appreciation (depreciation) of investments*
53 (2,310)    (2,257)
Change in other (4)    (4)
Change in fair value of market risk benefits, net  130    130 
Change in discount rates   959   959 
Change in future policy benefits (59)    (59)
Change in foreign currency translation adjustments    (254) (254)
Change in net actuarial loss     17 17 
Change in prior service cost     3 3 
Change in deferred tax asset (liability)(12)157 (28)(224)(1)(4)(112)
Corebridge deconsolidation, net of tax42 8,513 330 (1,583)(88) 7,214 
Total other comprehensive income (loss)83 6,297 432 (848)(343)16 5,637 
Corebridge noncontrolling interests2 610 33 (105)(3) 537 
Noncontrolling interests17 (559)(11)258 (3) (298)
Balance, June 30, 2024, net of tax$(38)$(3,422)$ $22 $(3,322)$(805)$(7,565)
(in millions)Unrealized
Appreciation
(Depreciation)
of Fixed Maturity
Securities on Which
Allowance for Credit
Losses Was Taken
Unrealized
Appreciation
(Depreciation)
of All Other
Investments
Change in Fair
Value of Market
Risk Benefits
Attributable to
Changes in
Our Own
Credit Risk
Change in the
discount rates
used to measure
traditional and
limited payment
long-duration
insurance contracts
Foreign
Currency
Translation
Adjustments
Retirement
Plan
Liabilities
Adjustment
Total
Balance, December 31, 2022, net of tax$(136)$(20,675)$(284)$2,459 $(3,056)$(924)$(22,616)
Change in unrealized appreciation (depreciation) of investments*113 2,613 — — — — 2,726 
Change in other— (53)— — — — (53)
Change in fair value of market risk benefits, net— — (146)— — — (146)
Change in discount rates— — — — — 
Change in future policy benefits— 37 — — — — 37 
Change in foreign currency translation adjustments— — — — (44)— (44)
Change in net actuarial loss— — — — — 105 105 
Change in prior service cost— — — — — 
Change in deferred tax asset (liability)(23)(343)31 (51)(43)(27)(456)
Total other comprehensive income (loss)90 2,254 (115)(47)(87)80 2,175 
Corebridge noncontrolling interests2,125 54 (345)(10)(1)1,827 
Noncontrolling interests18 359 (30)— 21 — 368 
Balance, June 30, 2023, net of tax$(60)$(16,655)$(315)$2,067 $(3,174)$(845)$(18,982)
*Includes net unrealized gains and losses attributable to businesses held for sale or reclassified to discontinued operations at June 30, 2024 and 2023.
Schedule of Other Comprehensive Income (Loss) Reclassification Adjustments
The following table presents the other comprehensive income (loss) reclassification adjustments for the three and six months ended June 30, 2024 and 2023, respectively:
(in millions)Unrealized
Appreciation
(Depreciation)
of Fixed Maturity
Securities on Which
Allowance for Credit
Losses Was Taken
Unrealized
Appreciation
(Depreciation)
of All Other
Investments
Change in Fair
Value of Market
Risk Benefits
Attributable to
Changes in Our
Own Credit Risk
Change in the
discount rates
used to measure
traditional and
limited payment
long-duration
insurance contracts
Foreign
Currency
Translation
Adjustments
Retirement
Plan
Liabilities
Adjustment
Total
Three Months Ended June 30, 2024
Unrealized change arising during period$(13)$(811)$159 $262 $85 $3 $(315)
Less: Reclassification adjustments included in net income(36)(8,346)(330)1,583 88 (8)(7,049)
Total other comprehensive income (loss), before income tax expense (benefit)23 7,535 489 (1,321)(3)11 6,734 
Less: Income tax expense (benefit)(3)(52)34 72 (13)2 40 
Total other comprehensive income (loss), net of income tax expense (benefit)$26 $7,587 $455 $(1,393)$10 $9 $6,694 
Three Months Ended June 30, 2023
Unrealized change arising during period$97 $(2,739)$(241)$531 $(25)$72 $(2,305)
Less: Reclassification adjustments included in net income(7)(334)— — — (8)(349)
Total other comprehensive income (loss), before income tax expense (benefit)104 (2,405)(241)531 (25)80 (1,956)
Less: Income tax expense (benefit)20 (407)(51)158 34 28 (218)
Total other comprehensive income (loss), net of income tax expense (benefit)$84 $(1,998)$(190)$373 $(59)$52 $(1,738)

(in millions)Unrealized
Appreciation
(Depreciation)
of Fixed Maturity
Securities on Which
Allowance for Credit
Losses Was Taken
Unrealized
Appreciation
(Depreciation)
of All Other
Investments
Change in Fair
Value of Market
Risk Benefits
Attributable to
Changes in Our
Own Credit Risk
Change in the
discount rates
used to measure
traditional and
limited payment
long-duration
insurance contracts
Foreign
Currency
Translation
Adjustments
Retirement
Plan
Liabilities
Adjustment
Total
Six Months Ended June 30, 2024
Unrealized change arising during period$53 $(2,643)$130 $959 $(254)$5 $(1,750)
Less: Reclassification adjustments included in net income(42)(8,783)(330)1,583 88 (15)(7,499)
Total other comprehensive income (loss), before of income tax expense (benefit)95 6,140 460 (624)(342)20 5,749 
Less: Income tax expense (benefit)12 (157)28 224 1 4 112 
Total other comprehensive income (loss), net of income tax expense (benefit)$83 $6,297 $432 $(848)$(343)$16 $5,637 
Six Months Ended June 30, 2023
Unrealized change arising during period$90 $1,827 $(146)$$(44)$90 $1,821 
Less: Reclassification adjustments included in net income(23)(770)— — — (17)(810)
Total other comprehensive income (loss), before income tax expense (benefit)113 2,597 (146)(44)107 2,631 
(in millions)Unrealized
Appreciation
(Depreciation)
of Fixed Maturity
Securities on Which
Allowance for Credit
Losses Was Taken
Unrealized
Appreciation
(Depreciation)
of All Other
Investments
Change in Fair
Value of Market
Risk Benefits
Attributable to
Changes in Our
Own Credit Risk
Change in the
discount rates
used to measure
traditional and
limited payment
long-duration
insurance contracts
Foreign
Currency
Translation
Adjustments
Retirement
Plan
Liabilities
Adjustment
Total
Less: Income tax expense (benefit)23 343 (31)51 43 27 456 
Total other comprehensive income (loss), net of income tax expense (benefit)$90 $2,254 $(115)$(47)$(87)$80 $2,175 
Schedule of Effect of the Reclassification of Significant Items out of Accumulated Other Comprehensive Income on the Respective Line Items in the Consolidated Statements of Income
The following table presents the effect of the reclassification of significant items out of AOCI on the respective line items in the Condensed Consolidated Statements of Income (Loss)(a):
Amount Reclassified from AOCIAffected Line Item in the
Three Months Ended June 30,Condensed Consolidated
(in millions)20242023Statements of Income (Loss)
Unrealized appreciation (depreciation) of fixed maturity securities on which allowance for credit losses was taken
Investments$6 $(7)Net realized gains (losses)
Total6 (7)
Unrealized appreciation (depreciation) of all other investments
Investments167 (334)Net realized gains (losses)
Total167 (334)
Change in retirement plan liabilities adjustment
Prior-service credit(1)— 
(b)
Actuarial losses(7)(8)
(b)
Total(8)(8)
Corebridge deconsolidation, net of tax(7,214)— 
(c)
Total reclassifications for the period$(7,049)$(349)
Amount Reclassified from AOCIAffected Line Item in the
Six Months Ended June 30,Condensed Consolidated
(in millions)20242023Statements of Income (Loss)
Unrealized appreciation (depreciation) of fixed maturity securities on which allowance for credit losses was taken
Investments$ $(23)Net realized gains (losses)
Total (23)
Unrealized appreciation (depreciation) of all other investments
Investments(270)(770)Net realized gains (losses)
Total(270)(770)
Change in retirement plan liabilities adjustment
Prior-service credit(1)(1)
(b)
Actuarial losses(14)(16)
(b)
Total(15)(17)
Corebridge deconsolidation, net of tax(7,214)— 
(c)
Total reclassifications for the period$(7,499)$(810)
(a)The following items are not reclassified out of AOCI and included in the Condensed Consolidated Statements of Income (Loss) and thus have been excluded from the table: (a) Change in fair value of market risk benefits attributable to changes in our own credit risk (b) Change in the discount rates used to measure traditional and limited-payment long-duration insurance contracts, and (c) Fair value of liabilities under fair value option attributable to changes in own credit risk.
(b)These AOCI components are included in the computation of net periodic pension cost.
(c)Represents adjustments related to the deconsolidation of Corebridge which is reflected in Income (loss) from discontinued operations, net of taxes. See the rollforward of Accumulated other comprehensive income (loss) above for further details.