v3.26.1
Consolidated Statements of Comprehensive Income (Loss) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenues        
Insurance premiums $ 1,715 $ 1,682 $ 3,388 $ 3,358
Fee income 1,406 1,348 2,783 2,721
Net investment income 1,625 1,471 3,230 2,934
Realized gain (loss) (406) (641) 60 (631)
Other revenues 202 184 387 353
Total revenues 4,542 4,044 9,848 8,735
Expenses        
Benefits 1,920 1,994 3,975 4,062
Policyholder liability remeasurement (gain) loss (54) (88) (100) (146)
Interest credited 1,024 916 2,023 1,805
Market risk benefit (gain) loss (1,460) (940) (473) 353
Commissions and other expenses 1,387 1,327 2,862 2,695
Interest and debt expense 82 (13) 164 67
Total expenses 2,899 3,196 8,451 8,836
Income (loss) before taxes 1,643 848 1,397 (101)
Federal income tax expense (benefit) 311 149 237 (78)
Net income (loss) 1,332 699 1,160 (23)
Other comprehensive income (loss), net of tax:        
Unrealized investment gain (loss) 279 328 (658) 851
Market risk benefit non-performance risk gain (loss) (404) (350) 38 (32)
Policyholder liability discount rate remeasurement gain (loss) 14 (64) 100 (175)
Foreign currency translation adjustment 0 10 (2) 15
Funded status of employee benefit plans 0 (10) 2 (15)
Total other comprehensive income (loss), net of tax (111) (86) (520) 644
Comprehensive income (loss) 1,221 613 640 621
Net Income (Loss) Available to Common Stockholders        
Net income (loss) 1,332 699 1,160 (23)
Preferred stock dividends declared (11) (11) (46) (46)
Net income (loss) available to common stockholders $ 1,321 $ 688 $ 1,114 $ (69)
Net Income (Loss) Per Common Share        
Basic (in dollars per share) $ 6.85 $ 3.88 $ 5.79 $ (0.39)
Diluted (in dollars per share) 6.72 3.80 5.65 (0.39)
Cash Dividends Declared Per Common Share (in dollars per share) $ 0.45 $ 0.45 $ 0.90 $ 0.90