v3.25.4
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenues      
Net investment income $ 3,570 $ 3,648 $ 3,206
Premiums, policy and contract charges 1,587 1,559 1,539
Other revenues 528 516 513
Total revenues 18,911 17,926 16,096
Banking and deposit interest expense 431 662 561
Total net revenues 18,480 17,264 15,535
Benefits and expenses      
Distribution expenses 6,741 6,024 5,078
Interest credited to fixed accounts 475 616 654
Benefits, claims, losses and settlement expenses 1,303 1,299 1,350
Remeasurement (gains) losses of future policy benefit reserves 10 (44) (20)
Change in fair value of market risk benefits 1,004 628 798
Amortization of deferred acquisition costs 242 242 246
Interest and debt expense 326 329 324
General and administrative expense 3,875 3,903 3,871
Total benefits and expenses 13,976 12,997 12,301
Pretax income 4,504 4,267 3,234
Income tax provision 941 866 678
Net income $ 3,563 $ 3,401 $ 2,556
Earnings per share      
Basic (in dollars per share) $ 36.85 $ 33.67 $ 24.18
Diluted (in dollars per share) $ 36.28 $ 33.05 $ 23.71
Management and financial advice fees      
Revenues      
Revenue from contracts with customers $ 11,109 $ 10,143 $ 8,907
Distribution fees      
Revenues      
Revenue from contracts with customers $ 2,117 $ 2,060 $ 1,931