v3.26.1
Consolidated Statements of Income (Loss) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
REVENUES    
Policy charges and fee income $ 429 $ 636
Premiums 240 304
Net derivative gains (losses) 580 799
Net investment income (loss) 1,284 1,248
Investment gains (losses), net:    
Credit and intent to sell losses on available-for-sale debt securities and loans 7 0
Other investment gains (losses), net (36) (14)
Total investment gains (losses), net (29) (14)
Investment management and service fees 1,327 1,285
Other income 399 318
Total revenues 4,230 4,576
BENEFITS AND OTHER DEDUCTIONS    
Policyholders’ benefits 385 759
Remeasurement of liability for future policy benefits 9 (2)
Change in market risk benefits and purchased market risk benefits 325 672
Interest credited to policyholders’ account balances 770 678
Compensation and benefits 625 601
Commissions and distribution-related payments 556 501
Interest expense 62 55
Amortization of deferred policy acquisition costs 209 188
Other operating costs and expenses 402 950
Total benefits and other deductions 3,343 4,402
Income (loss) from continuing operations, before income taxes 887 174
Income tax (expense) benefit (156) (24)
Net income (loss) 731 150
Less: Net income (loss) attributable to the noncontrolling interest [1] 110 87
Net income (loss) attributable to Holdings 621 63
Less: Preferred stock dividends 14 14
Net income (loss) available to Holdings’ common shareholders, basic 607 49
Net income (loss) available to Holdings’ common shareholders, diluted $ 607 $ 49
Net income (loss) applicable to Holdings’ common shareholders per common share:    
Basic (in dollars per share) $ 2.16 $ 0.16
Diluted (in dollars per share) $ 2.14 $ 0.16
Weighted average common shares outstanding (in millions):    
Basic (in shares) 281.3 307.8
Diluted (in shares) 283.8 311.9
[1] Includes redeemable noncontrolling interest. See Note 14 of the Notes to these Consolidated Financial Statements for details of redeemable noncontrolling interest.