v3.26.1
Deferred Policy Acquisition Costs and Value of Business Acquired
 3 Months Ended
Mar. 31, 2026
Deferred Policy Acquisition Costs and Present Value of Future Insurance Profits, Net [Abstract]  
Deferred Policy Acquisition Costs and Value of Business Acquired Deferred Policy Acquisition Costs and Value of Business Acquired
The following table presents a rollforward of DAC and VOBA for the periods indicated:
DAC
VOBA(1)
Retirement Deferred and Individual Annuities
Employee Benefits Voluntary
Businesses Exited
Balance as of January 1, 2025$701 $215 $838 $376 
Additions related to business acquisitions
— — — 390 
Deferrals of commissions and expenses59 46 — 4 
Amortization expense(54)(40)(94)(60)
Balance as of December 31, 2025$706 $221 $744 $710 
Deferrals of commissions and expenses16 10 — 1 
Amortization expense(14)(14)(22)(14)
Balance as of March 31, 2026$708 $217 $722 $697 
(1) Primarily related to the Retirement segment.

The following table shows a reconciliation of DAC and VOBA balances to the Condensed Consolidated Balance Sheets as of the periods indicated:
March 31, 2026December 31, 2025
DAC:
Retirement Deferred and Individual Annuities$708 $706 
Employee Benefits Voluntary217 221 
Businesses Exited 722 744 
Other20 20 
VOBA697 710 
Total$2,364 $2,401