v3.25.2
CONSOLIDATED STATEMENT OF STOCKHOLDERS’ EQUITY - USD ($)
$ in Millions
Total
Common Stock
Capital in Excess of Par Value
Accumulated Undistributed (Overdistributed) Earnings
Beginning balance (in shares) at Dec. 31, 2023   582,000,000    
Beginning balance at Dec. 31, 2023 $ 11,201 $ 1 $ 10,738 $ 462
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Issuances of common stock (net of offering and underwriting costs) (in shares)   5,000,000    
Issuances of common stock (net of offering and underwriting costs) 85   85  
Shares issued in connection with dividend reinvestment plan (in shares)   1,000,000    
Shares issued in connection with dividend reinvestment plan 21   21  
Net investment income 326     326
Net realized gains (losses) on investments, foreign currency, extinguishment of debt and other transactions (33)     (33)
Net unrealized (losses) gains on investments, foreign currency and other transactions 156     156
Conversion of 2024 Convertible Notes (in shares)   20,000,000    
Conversion of 2024 Convertible Notes 407   407  
Dividends declared and payable (291)     (291)
Ending balance (in shares) at Mar. 31, 2024   608,000,000    
Ending balance at Mar. 31, 2024 11,872 $ 1 11,251 620
Beginning balance (in shares) at Dec. 31, 2023   582,000,000    
Beginning balance at Dec. 31, 2023 $ 11,201 $ 1 10,738 462
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Shares issued in connection with dividend reinvestment plan (in shares) 2,000,000.0      
Net investment income $ 712      
Ending balance (in shares) at Jun. 30, 2024   630,000,000    
Ending balance at Jun. 30, 2024 12,364 $ 1 11,721 642
Beginning balance (in shares) at Mar. 31, 2024   608,000,000    
Beginning balance at Mar. 31, 2024 11,872 $ 1 11,251 620
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Issuances of common stock (net of offering and underwriting costs) (in shares)   21,000,000    
Issuances of common stock (net of offering and underwriting costs) 449   449  
Shares issued in connection with dividend reinvestment plan (in shares)   1,000,000    
Shares issued in connection with dividend reinvestment plan 21   21  
Net investment income 386     386
Net realized gains (losses) on investments, foreign currency, extinguishment of debt and other transactions (16)     (16)
Net unrealized (losses) gains on investments, foreign currency and other transactions (48)     (48)
Dividends declared and payable (300)     (300)
Ending balance (in shares) at Jun. 30, 2024   630,000,000    
Ending balance at Jun. 30, 2024 12,364 $ 1 11,721 642
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Issuances of common stock (net of offering and underwriting costs) (in shares)   15,000,000    
Issuances of common stock (net of offering and underwriting costs) 302   302  
Shares issued in connection with dividend reinvestment plan (in shares)   1,000,000    
Shares issued in connection with dividend reinvestment plan 21   21  
Net investment income 361     361
Net realized gains (losses) on investments, foreign currency, extinguishment of debt and other transactions (24)     (24)
Net unrealized (losses) gains on investments, foreign currency and other transactions 57     57
Dividends declared and payable (308)     (308)
Ending balance (in shares) at Sep. 30, 2024   646,000,000    
Ending balance at Sep. 30, 2024 12,773 $ 1 12,044 728
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Issuances of common stock (net of offering and underwriting costs) (in shares)   25,000,000    
Issuances of common stock (net of offering and underwriting costs) 528   528  
Shares issued in connection with dividend reinvestment plan (in shares)   1,000,000    
Shares issued in connection with dividend reinvestment plan 17   17  
Net investment income 363     363
Net realized gains (losses) on investments, foreign currency, extinguishment of debt and other transactions (29)     (29)
Net unrealized (losses) gains on investments, foreign currency and other transactions 23     23
Dividends declared and payable (320)     (320)
Tax reclassification of stockholders’ equity in accordance with GAAP $ 0   (87) 87
Ending balance (in shares) at Dec. 31, 2024 672,000,000 672,000,000    
Ending balance at Dec. 31, 2024 $ 13,355 $ 1 12,502 852
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Issuances of common stock (net of offering and underwriting costs) (in shares)   17,000,000    
Issuances of common stock (net of offering and underwriting costs) 384   384  
Shares issued in connection with dividend reinvestment plan (in shares)   1,000,000    
Shares issued in connection with dividend reinvestment plan 20   20  
Net investment income 365     365
Net realized gains (losses) on investments, foreign currency, extinguishment of debt and other transactions (61)     (61)
Net unrealized (losses) gains on investments, foreign currency and other transactions (63)     (63)
Dividends declared and payable (328)     (328)
Ending balance (in shares) at Mar. 31, 2025   690,000,000    
Ending balance at Mar. 31, 2025 $ 13,672 $ 1 12,906 765
Beginning balance (in shares) at Dec. 31, 2024 672,000,000 672,000,000    
Beginning balance at Dec. 31, 2024 $ 13,355 $ 1 12,502 852
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Shares issued in connection with dividend reinvestment plan (in shares) 1,800,000      
Net investment income $ 707      
Ending balance (in shares) at Jun. 30, 2025 706,000,000 706,000,000    
Ending balance at Jun. 30, 2025 $ 14,034 $ 1 13,244 789
Beginning balance (in shares) at Mar. 31, 2025   690,000,000    
Beginning balance at Mar. 31, 2025 13,672 $ 1 12,906 765
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Issuances of common stock (net of offering and underwriting costs) (in shares)   15,000,000    
Issuances of common stock (net of offering and underwriting costs) 318   318  
Shares issued in connection with dividend reinvestment plan (in shares)   1,000,000    
Shares issued in connection with dividend reinvestment plan 20   20  
Net investment income 342     342
Net realized gains (losses) on investments, foreign currency, extinguishment of debt and other transactions 34     34
Net unrealized (losses) gains on investments, foreign currency and other transactions (15)     (15)
Dividends declared and payable $ (337)     (337)
Ending balance (in shares) at Jun. 30, 2025 706,000,000 706,000,000    
Ending balance at Jun. 30, 2025 $ 14,034 $ 1 $ 13,244 $ 789