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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues        
Insurance premiums $ 1,559 $ 1,514 $ 322 $ 4,581
Fee income 1,118 1,305 3,347 3,934
Net investment income 1,304 1,466 3,761 4,351
Realized gain (loss) (571) (867) (345) (4,513)
Other revenues 72 159 497 488
Total revenues 3,482 3,577 7,582 8,841
Expenses        
Benefits 1,572 1,895 583 5,766
Interest credited 808 827 2,341 2,412
Market risk benefit (gain) loss 676 (1,014) (190) (1,182)
Policyholder liability remeasurement (gain) loss (63) 157 (182) (70)
Commissions and other expenses 1,238 1,311 3,932 3,906
Interest and debt expense 46 49 142 142
Total expenses 4,277 3,225 6,626 10,974
Income (loss) before taxes (795) 352 956 (2,133)
Federal income tax expense (benefit) (195) 37 138 (564)
Net income (loss) (600) 315 818 (1,569)
Other comprehensive income (loss), net of tax:        
Unrealized investment gain (loss) 320 (2,807) 989 1,088
Market risk benefit non-performance risk gain (loss) 373 (844) (288) (742)
Policyholder liability discount rate remeasurement gain (loss) (226) 345 (36) 257
Foreign currency translation adjustment (1) 0 (1) 0
Total other comprehensive income (loss), net of tax 466 (3,306) 664 603
Comprehensive income (loss) $ (134) $ (2,991) $ 1,482 $ (966)