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Consolidated Statements of Comprehensive Income (Loss) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues        
Insurance premiums $ 1,637 $ 1,614 $ 4,995 $ 4,839
Fee income 1,384 1,352 4,089 4,015
Net investment income 1,544 1,416 4,478 4,104
Realized gain (loss) (216) (431) (847) (201)
Other revenues 206 160 575 623
Total revenues 4,555 4,111 13,290 13,380
Expenses        
Benefits 1,926 1,937 5,988 5,948
Policyholder liability remeasurement (gain) loss 1 (50) (146) (166)
Interest credited 954 880 2,759 2,555
Market risk benefit (gain) loss (343) 657 10 (1,386)
Commissions and other expenses 1,414 1,304 4,110 4,254
Interest and debt expense 79 86 146 253
Total expenses 4,031 4,814 12,867 11,458
Income (loss) before taxes 524 (703) 423 1,922
Federal income tax expense (benefit) 79 (175) 0 334
Net income (loss) 445 (528) 423 1,588
Other comprehensive income (loss), net of tax:        
Unrealized investment gain (loss) 820 1,688 1,671 1,248
Market risk benefit non-performance risk gain (loss) (172) 372 (204) (289)
Policyholder liability discount rate remeasurement gain (loss) (95) (373) (270) (165)
Foreign currency translation adjustment (3) 9 11 8
Funded status of employee benefit plans 3 (9) (11) (8)
Total other comprehensive income (loss), net of tax 553 1,687 1,197 794
Comprehensive income (loss) 998 1,159 1,620 2,382
Net Income (Loss) Available to Common Stockholders        
Net income (loss) 445 (528) 423 1,588
Preferred stock dividends declared (34) (34) (80) (80)
Net income (loss) available to common stockholders $ 411 $ (562) $ 343 $ 1,508
Net Income (Loss) Per Common Share        
Basic (in dollars per share) $ 2.15 $ (3.29) $ 1.90 $ 8.85
Diluted (in dollars per share) 2.12 (3.29) 1.87 8.75
Cash Dividends Declared Per Common Share (in dollars per share) $ 0.45 $ 0.45 $ 1.35 $ 1.35