The following table presents the amounts related to each component of OCI: | | | | | | | | | | | | | | | | | | | Year Ended December 31, 2025 | | Pretax | | Income Tax Benefit (Expense) | | Net of Tax | | (in millions) | Net unrealized gains (losses) on securities: | | | | | | Net unrealized gains (losses) on securities arising during the period (1) | $ | 1,230 | | | $ | (277) | | | $ | 953 | | Reclassification of net (gains) losses on securities included in net income (2) | (3) | | | 1 | | | (2) | | | Impact of benefit reserves and reinsurance recoverables | (9) | | | 2 | | | (7) | | Net unrealized gains (losses) on securities | 1,218 | | | (274) | | | 944 | | Net unrealized gains (losses) on derivatives: | | | | | | | Net unrealized gains (losses) on derivatives arising during the period | (11) | | | 2 | | | (9) | | | | | | | | Net unrealized gains (losses) on derivatives | (11) | | | 2 | | | (9) | | | Effect of changes in discount rate assumptions on certain long-duration contracts | (91) | | | 19 | | | (72) | | Effect of changes in instrument-specific credit risk on market risk benefits (“MRBs”) | 26 | | | (6) | | | 20 | | Defined benefit plans: | | | | | | | | | | | | | Net gains (losses) | 17 | | | (3) | | | 14 | | Defined benefit plans | 17 | | | (3) | | | 14 | | Foreign currency translation | 121 | | | (3) | | | 118 | | Other | 1 | | | — | | | 1 | | Total other comprehensive income (loss) | $ | 1,281 | | | $ | (265) | | | $ | 1,016 | |
| | | | | | | | | | | | | | | | | | | Year Ended December 31, 2024 | | Pretax | | Income Tax Benefit (Expense) | | Net of Tax | | (in millions) | Net unrealized gains (losses) on securities: | | | | | | Net unrealized gains (losses) on securities arising during the period (1) | $ | (303) | | | $ | 61 | | | $ | (242) | | Reclassification of net (gains) losses on securities included in net income (2) | 19 | | | (4) | | | 15 | | | Impact of benefit reserves and reinsurance recoverables | 20 | | | (4) | | | 16 | | Net unrealized gains (losses) on securities | (264) | | | 53 | | | (211) | | Net unrealized gains (losses) on derivatives: | | | | | | | | | | | | Reclassification of net (gains) losses on derivatives included in net income (3) | (1) | | | 1 | | | — | | Net unrealized gains (losses) on derivatives | (1) | | | 1 | | | — | | | Effect of changes in discount rate assumptions on certain long-duration contracts | 194 | | | (41) | | | 153 | | | Effect of changes in instrument-specific credit risk on MRBs | (79) | | | 17 | | | (62) | | Defined benefit plans: | | | | | | Prior service credits (costs) | (2) | | | 1 | | | (1) | | | Net gains (losses) | 19 | | | (3) | | | 16 | | Defined benefit plans | 17 | | | (2) | | | 15 | | Foreign currency translation | (37) | | | — | | | (37) | | | | | | | | Total other comprehensive income (loss) | $ | (170) | | | $ | 28 | | | $ | (142) | |
| | | | | | | | | | | | | | | | | | | Year Ended December 31, 2023 | | Pretax | | Income Tax Benefit (Expense) | | Net of Tax | | (in millions) | Net unrealized gains (losses) on securities: | | | | | | Net unrealized gains (losses) on securities arising during the period (1) | $ | 1,038 | | | $ | (240) | | | $ | 798 | | Reclassification of net (gains) losses on securities included in net income (2) | 29 | | | (6) | | | 23 | | | Impact of benefit reserves and reinsurance recoverables | (24) | | | 5 | | | (19) | | Net unrealized gains (losses) on securities | 1,043 | | | (241) | | | 802 | | Net unrealized gains (losses) on derivatives: | | | | | | | Net unrealized gains (losses) on derivatives arising during the period | 3 | | | (1) | | | 2 | | Reclassification of net (gains) losses on derivatives included in net income (3) | (1) | | | 1 | | | — | | Net unrealized gains (losses) on derivatives | 2 | | | — | | | 2 | | | Effect of changes in discount rate assumptions on certain long-duration contracts | (69) | | | 15 | | | (54) | | | Effect of changes in instrument-specific credit risk on MRBs | (83) | | | 18 | | | (65) | | Defined benefit plans: | | | | | | Prior service credits (costs) | (1) | | | — | | | (1) | | | Net gains (losses) | 20 | | | (4) | | | 16 | | Defined benefit plans | 19 | | | (4) | | | 15 | | Foreign currency translation | 79 | | | 1 | | | 80 | | | | | | | | Total other comprehensive income (loss) | $ | 991 | | | $ | (211) | | | $ | 780 | |
(1) Includes impairments on Available-for-Sale securities related to factors other than credit that were recognized in OCI during the period. (2) Reclassification amounts are recorded in Net investment income. (3) Includes a $1 million and $1 million pretax gain reclassified to Interest and debt expense.
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