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Equity (Tables)
12 Months Ended
Dec. 31, 2024
Stockholders' Equity Note [Abstract]  
Rollforward of Common Stock Outstanding
The following table presents a rollforward of outstanding shares:
Years Ended December 31,202420232022
(in millions)Common
Stock Issued
Treasury
Stock
Common Stock
Outstanding
Common
Stock Issued
Treasury
Stock
Common Stock
Outstanding
Common
Stock Issued
Treasury
Stock
Common Stock
Outstanding
Shares, beginning of year1,906.7 (1,217.9)688.8 1,906.7 (1,172.6)734.1 1,906.7 (1,088.0)818.7 
Shares issued 6.8 6.8 — 5.5 5.5 — 5.5 5.5 
Shares repurchased (89.5)(89.5)— (50.8)(50.8)— (90.1)(90.1)
Shares, end of year1,906.7 (1,300.6)606.1 1,906.7 (1,217.9)688.8 1,906.7 (1,172.6)734.1 
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
Fair Value of
Liabilities
Under Fair
Value Option
Attributable to
Changes in Our
Own Credit Risk
Total
Balance, January 1, 2022, net of tax$(48)$12,125 $(1,496)$(2,167)$(2,446)$(903)$$5,071 
Change in unrealized appreciation (depreciation) of investments(119)(47,647)— — — — — (47,766)
Change in other— (12)— — — — — (12)
Change in fair value of market risk benefits, net— — 1,635 — — — — 1,635 
Change in discount rates— — — 6,993 — — — 6,993 
Change in future policy benefits— 1,805 — — — — — 1,805 
Change in foreign currency translation adjustments— — — — (593)— — (593)
Change in net actuarial loss— — — — — (31)— (31)
Change in prior service cost— — — — — — 
Change in deferred tax asset (liability)25 7,446 (341)(1,449)(20)— 5,664 
Change in fair value of liabilities under fair value option attributable to changes in own credit risk— — — — — — (6)(6)
Total other comprehensive loss(94)(38,408)1,294 5,544 (613)(20)(6)(32,303)
Add: Corebridge noncontrolling interests— 2,485 11 (393)14 (1)— 2,116 
Less: Noncontrolling interests(6)(3,123)93 525 11 — — (2,500)
Balance, December 31, 2022, net of tax$(136)$(20,675)$(284)$2,459 $(3,056)$(924)$— $(22,616)
Change in unrealized appreciation (depreciation) of investments*30 8,410 — — — — — 8,440 
Change in other(10)52 — — — — — 42 
Change in fair value of market risk benefits, net— — (695)— — — — (695)
Change in discount rates— — — (1,045)— — — (1,045)
Change in future policy benefits— (254)— — — — — (254)
Change in foreign currency translation adjustments— — — — 137 — — 137 
Change in net actuarial loss— — — — — 143 — 143 
Change in prior service cost— — — — — — 
Change in deferred tax asset (liability)(6)(1,074)151 174 (35)(42)— (832)
Total other comprehensive income14 7,134 (544)(871)102 105 — 5,940 
Add: Corebridge noncontrolling interests13 4,524 153 (732)(18)(2)— 3,938 
Less: Noncontrolling interests(3)1,871 (199)(377)— — 1,299 
Balance, December 31, 2023, net of tax$(106)$(10,888)$(476)$1,233 $(2,979)$(821)$ $(14,037)
Change in unrealized appreciation (depreciation) of investments*
95 (1,551)     (1,456)
Change in other 18      18 
Change in fair value of market risk benefits, net  130     130 
Change in discount rates   946    946 
Change in future policy benefits (59)     (59)
Change in foreign currency translation adjustments    (407)  (407)
Change in net actuarial loss     63  63 
Change in prior service cost     2  2 
Change in deferred tax asset (liability)(20)(70)(28)(165)(45)(18) (346)
Corebridge deconsolidation, net of tax42 8,513 330 (1,583)(88)  7,214 
Total other comprehensive income (loss)117 6,851 432 (802)(540)47  6,105 
Add: Corebridge noncontrolling interests2 610 33 (105)(3)  537 
Less: Noncontrolling interests17 (559)(11)258 (1)  (296)
Balance, December 31, 2024, net of tax$(4)$(2,868)$ $68 $(3,521)$(774)$ $(7,099)
*Includes net unrealized gains and losses attributable to businesses held for sale or reclassified to discontinued operations at December 31, 2024 and 2023.
Schedule of Other Comprehensive Income (Loss) Reclassification Adjustments
The following table presents the other comprehensive income (loss) reclassification adjustments for the years ended December 31, 2024, 2023 and 2022, 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
Fair Value of
Liabilities
Under Fair
Value Option
Attributable to
Changes in Our
Own Credit Risk
Total
Year Ended December 31, 2024
Unrealized change arising during year$95 $(2,211)$130 $946 $(407)$34 $ $(1,413)
Less: Reclassification adjustments included in net income(42)(9,132)(330)1,583 88 (31) (7,864)
Total other comprehensive income (loss), before of income tax expense (benefit)137 6,921 460 (637)(495)65  6,451 
Less: Income tax expense (benefit)20 70 28 165 45 18  346 
Total other comprehensive income (loss), net of income tax expense (benefit)$117 $6,851 $432 $(802)$(540)$47 $ $6,105 
Year Ended December 31, 2023
Unrealized change arising during year$(6)$7,172 $(695)$(1,045)$137 $118 $— $5,681 
Less: Reclassification adjustments included in net income(26)(1,036)— — — (29)— (1,091)
Total other comprehensive income (loss), before income tax expense (benefit)20 8,208 (695)(1,045)137 147 — 6,772 
Less: Income tax expense (benefit)1,074 (151)(174)35 42 — 832 
Total other comprehensive income (loss), net of income tax expense (benefit)$14 $7,134 $(544)$(871)$102 $105 $— $5,940 
Year Ended December 31, 2022
Unrealized change arising during year$(112)$(47,043)$1,635 $6,993 $(593)$(53)$(6)$(39,179)
Less: Reclassification adjustments included in net income(1,189)— — — (30)— (1,212)
Total other comprehensive income (loss), before income tax expense (benefit)(119)(45,854)1,635 6,993 (593)(23)(6)(37,967)
Less: Income tax expense (benefit)(25)(7,446)341 1,449 20 (3)— (5,664)
Total other comprehensive income (loss), net of income tax expense (benefit)$(94)$(38,408)$1,294 $5,544 $(613)$(20)$(6)$(32,303)
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 Consolidated Statements of Income (Loss)(a):
Amount Reclassified from AOCIAffected Line Item in the
Years Ended December 31,Consolidated
(in millions)202420232022Statements of Income (Loss)
Unrealized appreciation (depreciation) of fixed maturity securities on which allowance for credit losses was taken
Investments$ $(26)$Net realized gains (losses)
Total (26)
Unrealized appreciation (depreciation) of all other investments
Investments(619)(1,036)(1,189)Net realized gains (losses)
Total(619)(1,036)(1,189)
Change in retirement plan liabilities adjustment
Prior-service credit(2)(2)(2)
(b)
Actuarial losses(29)(27)(28)
(b)
Total(31)(29)(30)
Corebridge deconsolidation, net of tax(7,214)— — 
(c)
Total reclassifications for the year$(7,864)$(1,091)$(1,212)
(a)The following items are not reclassified out of AOCI and included in the 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 and (b) Change in the discount rates used to measure traditional and limited-payment long-duration insurance contracts.
(b)These AOCI components are included in the computation of net periodic pension cost. For additional information, see Note 20.
(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.