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Corebridge Financial, Inc. Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net income (loss) $ (390) $ 2,203 $ 1,036
Non-cash revenues, expenses, gains and losses included in income (loss):      
Net losses (gains) on sales of securities available-for-sale and other assets 1,051 1,049 304
Net (gain) loss on divestitures 0 (245) (676)
Unrealized (gains) losses in earnings - net 1,169 870 1,797
Change in the fair value of market risk benefits in earnings, net 636 (831) (348)
Equity in income from equity method investments, net of dividends or distributions 10 65 8
Depreciation and other amortization 556 193 366
Impairments of assets 52 69 69
Changes in operating assets and liabilities:      
Insurance liabilities 630 980 770
Premiums and other receivables and payables - net 174 (167) (265)
Funds held relating to Fortitude Re Reinsurance contracts (644) (1,420) (137)
Reinsurance assets and funds held under reinsurance treaties 1,024 825 675
Capitalization of deferred policy acquisition costs (1,381) (1,377) (1,260)
Current and deferred income taxes - net (343) 349 (116)
Other, net (523) (412) 1,134
Total adjustments 2,411 (52) 2,321
Net cash provided by operating activities 2,021 2,151 3,357
Sales or distributions of:      
Available-for-sale securities 13,690 8,080 7,400
Other securities 3,888 1,113 988
Other invested assets 1,764 1,733 1,367
Divestitures, net 0 577 747
Maturities of fixed maturity securities available-for-sale 19,312 16,164 8,859
Principal payments received on mortgage and other loans receivable 9,021 5,509 6,164
Purchases of:      
Available-for-sale securities (44,452) (29,644) (18,321)
Other securities (3,867) (1,669) (1,379)
Other invested assets (1,496) (924) (1,172)
Mortgage and other loans receivable (9,985) (11,878) (9,168)
Acquisition of businesses, net of cash and restricted cash acquired 0 0 (5)
Net change in short-term investments (404) (560) (334)
Net change in derivative assets and liabilities (820) 119 (884)
Other, net 17 (156) 262
Net cash used in investing activities (13,332) (11,536) (5,476)
Proceeds from (payments for):      
Policyholder contract deposits 40,455 39,552 33,015
Policyholder contract withdrawals (26,652) (28,136) (27,957)
Repayments of short-term debt (1,101) (250) (1,250)
Dividends paid on common stock (511) (544) (1,722)
Distributions to noncontrolling interests (132) (199) (91)
Contributions from noncontrolling interests 51 70 96
Net change in securities lending and repurchase agreements 1,466 567 (544)
Issuance of preferred stock 493 0 0
Issuance of common stock 0 1 0
Repurchase of common stock (2,118) (1,792) (498)
Other, net [1] (599) (267) 139
Net cash provided by (used in) financing activities 10,939 9,580 2,114
Effect of exchange rate changes on cash and restricted cash 1 1 3
Net increase (decrease) in cash and restricted cash (371) 196 (2)
Cash and restricted cash at beginning of year 824 628 633
Change in cash of businesses held for sale 0 0 (3)
Cash and restricted cash at end of year 453 824 628
Cash Equivalents, Restricted Cash and Restricted Cash Equivalents:      
Cash 447 [2] 806 [2] 612
Restricted cash included in short-term investments 4 4 3
Restricted cash included in other assets 2 14 13
Total cash and restricted cash shown in the Consolidated Statements of Cash Flows 453 824 628
Cash (received) paid during the period for:      
Interest 584 538 583
Taxes 192 252 20
Non-cash investing activities:      
Fixed maturity securities, designated available-for-sale, received in connection with pension risk transfer transactions (2,782) (1,316) (4,317)
Fixed maturity securities, designated fair value option, received in connection with reinsurance transactions 0 (232) (93)
Fixed maturity securities, designated available-for-sale, transferred in connection with reinsurance transactions 1,312 210 439
Fixed maturity securities, designated fair value option, transferred in connection with reinsurance transactions 0 194 0
Other invested assets securities, transferred in connection with reinsurance transactions 0 43 111
Non-cash financing activities:      
Interest credited to policyholder contract deposits included in financing activities 6,156 5,141 4,501
Fee income debited to policyholder contract deposits included in financing activities (2,987) (2,879) (2,122)
Non-cash capital contributions 2 18 16
Consolidated Entity, Excluding VIE      
Proceeds from (payments for):      
Issuance of long-term debt 0 1,329 1,240
Consolidated VIE      
Proceeds from (payments for):      
Issuance of long-term debt 153 231 221
Maturities and repayments of debt of consolidated investment entities (566) (982) $ (535)
Cash Equivalents, Restricted Cash and Restricted Cash Equivalents:      
Cash $ 38 $ 75  
[1] 2025 includes an outflow of $0.6 billion of cash related to the individual variable annuity business reinsured to Corporate Solutions Life Reinsurance Company.
[2] See Note 8 for details of balances associated with variable interest entities