v3.26.1
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Revenues    
Net investment income $ 872 $ 868
Premiums, policy and contract charges 341 360
Other revenues 166 129
Total revenues 4,886 4,481
Banking and deposit interest expense 74 127
Total net revenues 4,812 4,354
Benefits and expenses    
Distribution expenses 1,773 1,612
Interest credited to fixed accounts 142 130
Benefits, claims, losses and settlement expenses 317 381
Remeasurement (gains) losses of future policy benefit reserves (1) (10)
Change in fair value of market risk benefits 378 497
Amortization of deferred acquisition costs 61 61
Interest and debt expense 80 80
General and administrative expense 918 916
Total benefits and expenses 3,668 3,667
Pretax income 1,144 687
Income tax provision 229 104
Net income $ 915 $ 583
Earnings per share    
Basic (in dollars per share) $ 9.81 $ 5.92
Diluted (in dollars per share) $ 9.68 $ 5.83
Management and financial advice fees    
Revenues    
Revenue from contracts with customers $ 2,944 $ 2,602
Distribution fees    
Revenues    
Revenue from contracts with customers $ 563 $ 522