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Consolidated Statements of Comprehensive Income (Loss) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues        
Insurance premiums $ 1,682 $ 1,625 $ 3,358 $ 3,226
Fee income 1,340 1,339 2,706 2,662
Net investment income 1,466 1,332 2,924 2,679
Realized gain (loss) (641) 663 (631) 230
Other revenues 197 194 378 472
Total revenues 4,044 5,153 8,735 9,269
Expenses        
Benefits 1,994 2,008 4,062 4,011
Interest credited 916 853 1,805 1,675
Market risk benefit (gain) loss (940) (136) 353 (2,043)
Policyholder liability remeasurement (gain) loss (88) (105) (146) (117)
Commissions and other expenses 1,327 1,351 2,695 2,951
Interest and debt expense (13) 86 67 167
Total expenses 3,196 4,057 8,836 6,644
Income (loss) before taxes 848 1,096 (101) 2,625
Federal income tax expense (benefit) 149 201 (78) 509
Net income (loss) 699 895 (23) 2,116
Other comprehensive income (loss), net of tax:        
Unrealized investment gain (loss) 328 (313) 851 (440)
Market risk benefit non-performance risk gain (loss) (350) (197) (32) (661)
Policyholder liability discount rate remeasurement gain (loss) (64) 92 (175) 208
Foreign currency translation adjustment 10 0 15 (1)
Funded status of employee benefit plans (10) 0 (15) 1
Total other comprehensive income (loss), net of tax (86) (418) 644 (893)
Comprehensive income (loss) 613 477 621 1,223
Net Income (Loss) Available to Common Stockholders        
Net income (loss) 699 895 (23) 2,116
Preferred stock dividends declared (11) (11) (46) (46)
Net income (loss) available to common stockholders $ 688 $ 884 $ (69) $ 2,070
Net Income (Loss) Per Common Share        
Basic (in dollars per share) $ 3.88 $ 5.18 $ (0.39) $ 12.16
Diluted (in dollars per share) 3.80 5.11 (0.39) 12.03
Cash Dividends Declared Per Common Share (in dollars per share) $ 0.45 $ 0.45 $ 0.90 $ 0.90