v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Investments:    
Fixed maturities available-for-sale, at fair value (amortized cost of $84,644 and $82,106) (allowance for credit losses of $8 and $0) $ 78,808 $ 77,162
Fixed maturities, at fair value using the fair value option [1] 2,934 2,943
Mortgage loans on real estate (net of allowance for credit losses of $313 and $278) [1] 22,785 22,668
Mortgage loans, at fair value using the fair value option 72 50
Policy loans 1,845 1,862
Other Equity Investments [1] 3,670 3,779
Trading securities, at fair value 1,645 1,572
Other Invested assets [1] 9,920 10,968
Total investments 121,679 121,004
Cash and cash equivalents [1] 9,904 12,462
Cash and securities segregated, at fair value 351 499
Broker-dealer related receivables 2,183 2,162
Deferred policy acquisition costs 7,584 7,523
Goodwill and other intangible assets, net 5,350 5,309
Amounts due from reinsurers (allowance for credit losses of $7 and $7) 20,373 20,127
Current and deferred income taxes 2,611 2,577
Purchased market risk benefits 5,266 5,260
Other Assets [1] 3,936 3,771
Assets for market risk benefits 675 752
Separate Accounts assets 130,470 136,544
Total Assets 310,382 317,990
LIABILITIES    
Policyholders’ account balances 132,662 133,433
Liability for market risk benefits 9,825 10,153
Future policy benefits and other policyholders’ liabilities 17,441 17,660
Broker-dealer related payables 665 1,370
Customer related payables 1,988 1,937
Amounts due to reinsurers 1,306 1,542
Short-term debt 0 25
Long-term debt 3,837 3,835
Notes issued by consolidated variable interest entities, at fair value using the fair value option [1] 3,090 2,702
Other liabilities [1] 6,848 7,001
Separate Accounts liabilities 130,470 136,544
Total Liabilities 308,132 316,202
Redeemable noncontrolling interest [1],[2] 390 322
Commitments and contingent liabilities [3]
Equity attributable to Holdings:    
Preferred stock and additional paid-in capital, $1 par value and $25,000 liquidation preference 1,068 1,068
Common stock, $0.01 par value, 2,000,000,000 shares authorized; 466,227,784 and 468,341,734 shares issued, respectively; 281,499,559 and 283,358,187 shares outstanding, respectively 5 5
Additional paid-in capital 1,915 1,932
Treasury stock, at cost, 184,728,225 and 184,983,547 shares, respectively (5,190) (5,165)
Retained earnings 8,775 8,366
Accumulated other comprehensive income (loss) (6,300) (6,280)
Total equity attributable to Holdings 273 (74)
Noncontrolling interest 1,587 1,540
Total Equity 1,860 1,466
Total Liabilities, Redeemable Noncontrolling Interest and Equity 310,382 317,990
Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest $ (286) $ (313)
[1] See Note 2 of the Notes to these Consolidated Financial Statements for details of balances with VIEs.
[2] See Note 14 of the Notes to these Consolidated Financial Statements for details of redeemable noncontrolling interest.
[3] See Note 15 of the Notes to these Consolidated Financial Statements for details of commitments and contingent liabilities.