v3.25.4
Shares and Stockholder's Equity (Tables)
 12 Months Ended
Dec. 31, 2025
Stockholders' Equity Note [Abstract]  
Components and Changes in AOCI
The following summarizes the components and changes in AOCI (in millions):

For the Years Ended December 31,
202520242023
Unrealized Gain (Loss) on Fixed Maturity AFS Securities and Certain
Other Investments
Balance as of beginning-of-year$(3,655)$(3,532)$(8,526)
Unrealized holding gains (losses)1,827 (1,294)2,122 
Change in foreign currency exchange rate adjustment417 (219)178 
Change in future contract benefits and policyholder account balances, net of reinsurance(814)1,189 638 
Income tax benefit (expense) (303)64 (650)
Less:
Reclassification adjustment for gains (losses) included in net income (loss)(58)(173)(3,425)
Income tax benefit (expense) 12 36 719 
Balance as of end-of-year$(2,482)$(3,655)$(3,532)
Unrealized Gain (Loss) on Derivative Instruments
Balance as of beginning-of-year$402 $249 $301 
Unrealized holding gains (losses)225 38 162 
Change in foreign currency exchange rate adjustment(411)220 (169)
Income tax benefit (expense) 40 (54)2 
Less:
Reclassification adjustment for gains (losses) included in net income (loss)54 64 60 
Income tax benefit (expense) (11)(13)(13)
Balance as of end-of-year$213 $402 $249 
Market Risk Benefit Non-Performance Risk Gain (Loss)
Balance as of beginning-of-year$145 $1,069 $1,739 
OCI before reclassification(517)(1,175)(854)
Income tax benefit (expense) 111 251 184 
Balance as of end-of-year$(261)$145 $1,069 
Policyholder Liability Discount Rate Remeasurement Gain (Loss)
Balance as of beginning-of-year$795 $645 $790 
OCI before reclassification(261)189 (187)
Income tax benefit (expense) 55 (39)42 
Balance as of end-of-year$589 $795 $645 
Funded Status of Employee Benefit Plans
Balance as of beginning-of-year$(17)$(16)$(17)
OCI before reclassification4 (1)1 
Income tax benefit (expense) (1)– – 
Balance as of end-of-year$(14)$(17)$(16)
Schedule of Reclassifications Out of AOCI
The following summarizes the reclassifications out of AOCI (in millions) and the associated line item on the Consolidated Statements of Comprehensive Income (Loss):
For the Years Ended December 31,
202520242023
Unrealized Gain (Loss) on Fixed Maturity AFS
Securities and Certain Other Investments
Reclassification$(71)$(182)$(4,014)Realized gain (loss)
Associated change in future contract benefits13 9 589 Benefits
Reclassification before income
tax benefit (expense)(58)(173)(3,425)Income (loss) before taxes
Income tax benefit (expense)12 36 719 Federal income tax expense (benefit)
Reclassification, net of income tax$(46)$(137)$(2,706)Net income (loss)
Unrealized Gain (Loss) on Derivative Instruments
Interest rate contracts$– $(3)$(1)Net investment income
Foreign currency contracts57 59 54 Net investment income
Foreign currency contracts(3)8 7 Realized gain (loss)
Reclassification before income
tax benefit (expense)54 64 60 Income (loss) before taxes
Income tax benefit (expense)(11)(13)(13)Federal income tax expense (benefit)
Reclassification, net of income tax$43 $51 $47 Net income (loss)