v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Statement of Cash Flows [Abstract]    
Net cash provided by (used in) operating activities $ (132) $ 143
Cash flows from investing activities    
Sales, maturities and repayments of fixed maturity securities 3,297 3,037
Sales, maturities and repayments of trading securities 22 6
Sales, maturities and repayments of equity securities 2 4
Sales, maturities and repayments of mortgage loans 821 447
Sales, maturities and repayments of limited partnerships and limited liability companies 79 87
Purchases of fixed maturity securities (3,278) (2,756)
Purchases of trading securities (68) (18)
Purchases of equity securities 0 (1)
Purchases of mortgage loans (664) (362)
Purchases of limited partnerships and limited liability companies (54) (65)
Cash received in connection with freestanding derivatives 4,752 3,343
Cash paid in connection with freestanding derivatives (5,312) (4,109)
Net change in policy loans (12) 588
Net change in short-term investments (108) 275
Net change in other invested assets 2 1
Net cash provided by (used in) investing activities (521) 477
Cash flows from financing activities    
Policyholder account balances: Deposits 6,878 5,018
Policyholder account balances: Withdrawals (6,668) (5,940)
Net change in payables for collateral under securities loaned and other transactions (44) 19
Long-term debt repaid (1) 0
Capital contribution 0 100
Financing element on certain derivative instruments and other derivative related transactions, net 24 (166)
Net cash provided by (used in) financing activities 189 (969)
Change in cash, cash equivalents and restricted cash (464) (349)
Cash, cash equivalents and restricted cash, beginning of period 5,057 4,592
Cash, cash equivalents and restricted cash, end of period 4,593 4,243
Supplemental disclosures of cash flow information    
Net cash paid (received) for interest 34 34
Net cash paid (received) for income tax $ 1 $ 0