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Equity (Tables)
3 Months Ended
Mar. 31, 2025
Stockholders' Equity Note [Abstract]  
Rollforward of Common Stock Outstanding
The following table presents a rollforward of outstanding shares:
Three Months Ended March 31, 2025
Common
Stock Issued
Treasury
Stock
Common Stock
Outstanding
(in millions)
Shares, beginning of year1,906.7 (1,300.6)606.1 
Shares issued 3.3 3.3 
Shares repurchased (29.0)(29.0)
Shares, end of period1,906.7 (1,326.3)580.4 
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, December 31, 2024, net of tax$(4)$(2,868)$ $68 $(3,521)$(774)$(7,099)
Change in unrealized appreciation (depreciation) of investments
4 318     322 
Change in other 6     6 
Change in discount rates   9   9 
Change in foreign currency translation adjustments    175  175 
Change in net actuarial loss     8 8 
Change in deferred tax asset (liability) 101  (3)19 (1)116 
Total other comprehensive income4 425  6 194 7 636 
Less: Noncontrolling interests    1  1 
Balance, March 31, 2025, net of tax$ $(2,443)$ $74 $(3,328)$(767)$(6,464)
Balance, December 31, 2023, net of tax$(106)$(10,888)$(476)$1,233 $(2,979)$(821)$(14,037)
Change in unrealized appreciation (depreciation) of investments*72 (1,274)— — — — (1,202)
Change in other— — — — — 
Change in fair value of market risk benefits, net— — (29)— — — (29)
Change in discount rates— — — 697 — — 697 
Change in future policy benefits— (126)— — — — (126)
Change in foreign currency translation adjustments— — — — (339)— (339)
Change in net actuarial loss— — — — — 
Change in prior service cost— — — — — 
Change in deferred tax asset (liability)(15)105 (152)(14)(2)(72)
Total other comprehensive income (loss)57 (1,290)(23)545 (353)(1,057)
Add: Corebridge noncontrolling interests— (83)(5)15 — — (73)
Less: Noncontrolling interests17 (559)(11)258 (3)— (298)
Balance, March 31, 2024, net of tax$(66)$(11,702)$(493)$1,535 $(3,329)$(814)$(14,869)
*Includes net unrealized gains and losses attributable to businesses held for sale or reclassified to discontinued operations at March 31, 2024.
Schedule of Other Comprehensive Income (Loss) Reclassification Adjustments
The following table presents the other comprehensive income (loss) reclassification adjustments for the three months ended March 31, 2025 and 2024, 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 March 31, 2025
Unrealized change arising during period$4 $62 $ $9 $175 $ $250 
Less: Reclassification adjustments included in net income (262)   (8)(270)
Total other comprehensive income (loss), before of income tax expense (benefit)4 324  9 175 8 520 
Less: Income tax expense (benefit) (101) 3 (19)1 (116)
Total other comprehensive income (loss), net of income tax expense (benefit)$4 $425 $ $6 $194 $7 $636 
Three Months Ended March 31, 2024
Unrealized change arising during period$66 $(1,832)$(29)$697 $(339)$$(1,435)
Less: Reclassification adjustments included in net income(6)(437)— — — (7)(450)
Total other comprehensive income (loss), before income tax expense (benefit)72 (1,395)(29)697 (339)(985)
Less: Income tax expense (benefit)15 (105)(6)152 14 72 
Total other comprehensive income (loss), net of income tax expense (benefit)$57 $(1,290)$(23)$545 $(353)$$(1,057)
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 March 31,Condensed Consolidated
(in millions)20252024Statements of Income (Loss)
Unrealized appreciation (depreciation) of fixed maturity securities on which allowance for credit losses was taken
Investments$ $(6)Net realized gains (losses)
Total (6)
Unrealized appreciation (depreciation) of all other investments
Investments(262)(437)Net realized gains (losses)
Total(262)(437)
Change in retirement plan liabilities adjustment
Prior-service credit(1)— 
(b)
Actuarial losses(7)(7)
(b)
Total(8)(7)
Total reclassifications for the period$(270)$(450)
(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 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.