Equity (Tables)

3 Months Ended

Mar. 31, 2025

Equity [Abstract]

Components of Accumulated Other Comprehensive Income (Loss)

Information regarding changes in the balances of each component of AOCI was as follows:

	Three Months Ended March 31, 2025
	Unrealized Investment Gains (Losses), Net of Related Offsets (1)		Unrealized Gains (Losses) on Derivatives		Changes in Nonperformance Risk on Market Risk Benefits		Changes in Discount Rates on the Liability for Future Policy Benefits		Foreign Currency Translation Adjustments		Total
	(In millions)
Balance at December 31, 2024	$	(5,046)	$	364	$	(1,602)	$	1,146	$	(25)	$	(5,163)
OCI before reclassifications	913		(16)		(27)		(155)		16		731
Deferred income tax benefit (expense) (2)	(191)		3		6		32		(3)		(153)
AOCI before reclassifications, net of income tax	(4,324)		351		(1,623)		1,023		(12)		(4,585)
Amounts reclassified from AOCI	28		(7)		—		—		—		21
Deferred income tax benefit (expense) (2)	(6)		1		—		—		—		(5)
Amounts reclassified from AOCI, net of income tax	22		(6)		—		—		—		16
Balance at March 31, 2025	$	(4,302)	$	345	$	(1,623)	$	1,023	$	(12)	$	(4,569)

	Three Months Ended March 31, 2024
	Unrealized Investment Gains (Losses), Net of Related Offsets (1)		Unrealized Gains (Losses) on Derivatives		Changes in Nonperformance Risk on Market Risk Benefits		Changes in Discount Rates on the Liability for Future Policy Benefits		Foreign Currency Translation Adjustments		Total
	(In millions)
Balance at December 31, 2023	$	(4,214)	$	272	$	(1,880)	$	719	$	(11)	$	(5,114)
OCI before reclassifications	(786)		52		215		313		(8)		(214)
Deferred income tax benefit (expense) (2)	165		(11)		(45)		(66)		2		45
AOCI before reclassifications, net of income tax	(4,835)		313		(1,710)		966		(17)		(5,283)
Amounts reclassified from AOCI	33		(3)		—		—		—		30
Deferred income tax benefit (expense) (2)	(7)		1		—		—		—		(6)
Amounts reclassified from AOCI, net of income tax	26		(2)		—		—		—		24
Balance at March 31, 2024	$	(4,809)	$	311	$	(1,710)	$	966	$	(17)	$	(5,259)

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(1)See Note 7 for information on offsets to investments related to future policy benefits.

(2)The effects of income taxes on amounts recorded to AOCI are also recognized in AOCI. These income tax effects are released from AOCI when the related activity is reclassified into results from operations.

Reclassification out of Accumulated Other Comprehensive Income (Loss)

Information regarding amounts reclassified out of each component of AOCI was as follows:

AOCI Components	Amounts Reclassified from AOCI				Consolidated Statements of Operations and Comprehensive Income (Loss) Locations
	Three Months Ended March 31,
	2025		2024
	(In millions)
Net unrealized investment gains (losses):
Net unrealized investment gains (losses)	$	(25)	$	(32)	Net investment gains (losses)
Net unrealized investment gains (losses)	(3)		(1)		Net derivative gains (losses)
Net unrealized investment gains (losses), before income tax	(28)		(33)
Income tax (expense) benefit	6		7
Net unrealized investment gains (losses), net of income tax	(22)		(26)
Unrealized gains (losses) on derivatives - cash flow hedges:
Interest rate swaps	3		—		Net derivative gains (losses)
Interest rate swaps	1		3		Net investment income
Foreign currency swaps	3		—		Net derivative gains (losses)
Gains (losses) on cash flow hedges, before income tax	7		3
Income tax (expense) benefit	(1)		(1)
Gains (losses) on cash flow hedges, net of income tax	6		2
Total reclassifications, net of income tax	$	(16)	$	(24)