v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash Flows from Operating Activities    
Net income (loss) $ (172) $ (722)
Adjustments to reconile net income (loss) to net cash provided by (used in) operating activities:    
Realized (gain) loss (466) (11)
Market risk benefit (gain) loss 987 1,293
Sales and maturities (purchases) of trading securities, net 103 71
Change in:    
Deferred acquisition costs, value of business acquired, deferred ales inducements and deferred front-end loads 163 156
Accrued investment income (33) (16)
Insurance liabilities and reinsurance-related balances (307) (449)
Accrued expenses (98) (227)
Federal income tax accruals (74) (227)
Other 35 (140)
Net cash provided by (used in) operating activities 138 (272)
Cash Flows from Investing Activities    
Purchases of available-for-sale securities and equity securities (4,847) (3,513)
Sales of available-for-sale securities and equity securities 424 300
Maturities of available-for-sale securities 2,595 2,689
Purchases of other investments (417) (397)
Sales and repayments of other investments 350 222
Issuance of mortgage loans on real estate (1,384) (919)
Repayment and maturities of mortgage loans on real estate 811 502
Repayment (issuance) of policy loans, net 20 (54)
Net change in collateral on investments, certain derivatives and related settlements (971) (799)
Other (35) (77)
Net cash provided by (used in) investing activities (3,454) (2,046)
Cash Flows from Financing Activities    
Payment of long-term debt, including current maturities (150) (300)
Issuance of long-term debt, net of issuance costs 250 0
Payment related to sale-leaseback transactions (1) (2)
Payment related to certain financing arrangements (15) (14)
Policyholder Account Balance [Abstract]    
Deposits 4,947 4,434
Withdrawals (3,232) (3,129)
Transfers from (to) separate accounts, net (497) (73)
Common stock issued for benefit plans (23) (4)
Dividends paid to preferred stockholders (34) (34)
Dividends paid to common stockholders (86) (77)
Net cash provided by (used in) financing activities 1,159 801
Net increase (decrease) in cash and invested cash (2,157) (1,517)
Cash and invested cash as of beginning-of-year 9,502 5,801
Cash and invested cash as of end-of-period $ 7,345 $ 4,284