The following table presents the roll-forward of the DAC (in millions). The current period amortization is based on the end of the period estimates of mortality and persistency. The amortization pattern is revised on a prospective basis at the beginning of the period based on the period’s actual experience.
| | | | | | | | | | | | | Three Months Ended March 31, | | Year Ended December 31, | | 2026 | | 2025 | | Variable Annuities | | | | | Balance, beginning of period | $ | 10,810 | | | $ | 11,314 | | | | | | | Deferrals of acquisition costs | 141 | | | 526 | | | Amortization | (255) | | | (1,030) | | | Variable Annuities balance, end of period | $ | 10,696 | | $ | 10,810 | | | | | | | RILA | | | | | Balance, beginning of period | $ | 637 | | $ | 399 | | | Deferrals of acquisition costs | 82 | | 294 | | | Amortization | (20) | | (56) | | | RILA balance, end of period | $ | 699 | | $ | 637 | | | | | | | Reconciliation of total DAC | | | | | Variable Annuities balance, end of period | $ | 10,696 | | | $ | 10,810 | | | RILA balance, end of period | 699 | | | 637 | | | Other product lines, end of period | 239 | | | 213 | | | Total balance, end of period | $ | 11,634 | | | $ | 11,660 | |
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