v3.26.1
Corebridge Financial, Inc. Condensed Consolidated Statements of Income (Loss) (unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Revenues:    
Premiums $ 387 $ 871
Policy fees 610 720
Net investment income 3,197 3,189
Net realized losses:    
Total net realized losses (336) (1,414)
Advisory fee income 83 125
Other income 23 81
Total revenues 3,964 3,572
Benefits and expenses:    
Policyholder benefits (includes remeasurement losses of $77 and $146 for the three months ended March 31, 2026 and 2025, respectively) 974 1,457
Change in the fair value of market risk benefits, net 378 385
Interest credited to policyholder account balances 1,525 1,417
Amortization of deferred policy acquisition costs and value of business acquired 245 275
Non-deferrable insurance commissions 104 156
Advisory fee expenses 44 70
General operating expenses 468 526
Interest expense 131 148
Net (gain) on divestitures (2) 0
Total benefits and expenses 3,867 4,434
Income (loss) before income tax expense (benefit) 97 (862)
Income tax expense (benefit) 158 (205)
Net loss (61) (657)
Less: Net income (loss) attributable to noncontrolling interests (8) 7
Net loss attributable to Corebridge (53) (664)
Less: Preferred stock dividends 0 0
Net loss available to Corebridge common shareholders $ (53) $ (664)
Income (loss) per common share available to Corebridge common shareholders:    
Common stock - basic (in dollars per share) $ (0.11) $ (1.19)
Common stock - diluted (in dollars per share) $ (0.11) $ (1.19)
Weighted average shares outstanding:    
Common stock - basic (in shares) 473.5 558.0
Common stock - diluted (in shares) 473.5 558.0
Excluding Fortitude Re Funds Withheld Assets    
Revenues:    
Net investment income $ 2,937 $ 2,858
Net realized losses:    
Total net realized losses (329) (822)
Net realized gains on Fortitude Re funds withheld assets    
Revenues:    
Net investment income 260 331
Net realized losses:    
Total net realized losses (21) 4
Net realized gains (losses) on Fortitude Re funds withheld embedded derivatives    
Net realized losses:    
Total net realized losses $ 14 $ (596)