v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash Flows from Operating Activities    
Net income (loss) $ 1,160 $ (23)
Adjustments to reconile net income (loss) to net cash provided by (used in) operating activities:    
Realized (gain) loss (60) 631
Market risk benefit (gain) loss (473) 353
Sales and maturities (purchases) of trading securities, net 128 583
Early extinguishment of debt (gain) loss 0 (94)
Change in:    
Deferred acquisition costs, value of business acquired, deferred ales inducements and deferred front-end loads 386 326
Accrued investment income (47) (36)
Insurance liabilities and reinsurance-related balances (1,259) (559)
Accrued expenses (174) (156)
Federal income tax accruals 221 (123)
Other (302) (161)
Net cash provided by (used in) operating activities (420) 741
Cash Flows from Investing Activities    
Purchases of available-for-sale securities and equity securities (9,401) (6,793)
Sales and maturities of available-for-sale securities and equity securities 7,483 5,795
Purchases of other investments (918) (686)
Sales and repayments of other investments 536 584
Issuance of mortgage loans on real estate (2,834) (1,933)
Repayment and maturities of mortgage loans on real estate 1,647 1,075
Repayment (issuance) of policy loans, net 30 (76)
Net change in collateral on investments, certain derivatives and related settlements 2,684 (306)
Other (103) 28
Net cash provided by (used in) investing activities (876) (2,312)
Cash Flows from Financing Activities    
Payment of long-term debt, including current maturities (150) (300)
Issuance of long-term debt, net of issuance costs 744 0
Payment related to early extinguishment of debt 0 (421)
Payment related to sale-leaseback transactions (2) (4)
Proceeds from certain financing arrangements 0 33
Payment related to certain financing arrangements (75) (84)
Policyholder Account Balance [Abstract]    
Deposits 9,695 9,623
Withdrawals (7,023) (6,250)
Transfers from (to) separate accounts, net (985) (303)
Issuance of common stock 0 825
Common stock issued for benefit plans (27) (7)
Dividends paid to preferred stockholders (46) (46)
Dividends paid to common stockholders (172) (153)
Net cash provided by (used in) financing activities 1,959 2,913
Net increase (decrease) in cash and invested cash 663 1,342
Cash and invested cash as of beginning-of-year 9,502 5,801
Cash and invested cash as of end-of-period $ 10,165 $ 7,143