| Changes in the Components of AOCI |
Changes in the components of AOCI were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | Six Months Ended June 30, | | | (In millions) | | | | | 2026 | 2025 | 2026 | 2025 | | | | Securities and derivatives | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Beginning balance | | | | | $ | 465 | | $ | 732 | | $ | 594 | | $ | 832 | | | | | Unrealized appreciation on securities and derivatives, before reclassification, net of tax (expense) of $(76), $(93), $(32) and $(44), respectively | | | | | 249 | | 303 | | 116 | | 169 | | | | | Amounts reclassified to Shareholders' net income, net of tax (benefit) of $—, $(4), $(1) and $(13), respectively | | | | | — | | 18 | | 4 | | 52 | | | | | Other comprehensive income, net of tax | | | | | 249 | | 321 | | 120 | | 221 | | | | | Ending balance | | | | | $ | 714 | | $ | 1,053 | | $ | 714 | | $ | 1,053 | | | | | Net long-duration insurance and contractholder liabilities measurement adjustments | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Beginning balance | | | | | $ | (2,964) | | $ | (2,206) | | $ | (2,329) | | $ | (2,038) | | | | | Net current period change in discount rate for certain long-duration liabilities, before reclassification, net of tax benefit of $336, $205, $550 and $238, respectively | | | | | (1,007) | | (615) | | (1,643) | | (723) | | | | | Amounts reclassified to Shareholders' net income, net of tax expense of $—, $—, $— and $16, respectively | | | | | — | | — | | — | | (56) | | | | | Net current period change in discount rate for certain long-duration liabilities, net of tax benefit of $336, $205, $550 and $254, respectively | | | | | (1,007) | | (615) | | (1,643) | | (779) | | | | | Net current period change in instrument-specific credit risk for market risk benefits, net of tax benefit (expense) of $2, $(2), $2 and $(1), respectively | | | | | (5) | | 6 | | (4) | | 2 | | | | | Other comprehensive (loss), net of tax | | | | | (1,012) | | (609) | | (1,647) | | (777) | | | | | Ending balance | | | | | $ | (3,976) | | $ | (2,815) | | $ | (3,976) | | $ | (2,815) | | | | | Translation of foreign currencies | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Beginning balance | | | | | $ | (162) | | $ | (185) | | $ | (127) | | $ | (198) | | | | | Net translation of foreign currencies, before reclassification, net of tax (expense) benefit of $—, $(2), $2 and $(8), respectively | | | | | (13) | | 65 | | (48) | | 78 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Ending balance | | | | | $ | (175) | | $ | (120) | | $ | (175) | | $ | (120) | | | | | Postretirement benefits liability | | | | | | | | | | | | Beginning balance | | | | | $ | (937) | | $ | (931) | | $ | (944) | | $ | (937) | | | | | Amounts reclassified to Shareholders' net income, net of tax (benefit) of $(2), $(2), $(4) and $(4), respectively | | | | | 6 | | 6 | | 13 | | 12 | | | | | Net change due to valuation update, before reclassification, net of tax (expense) benefit of $(3), $3, $(3) and $3, respectively | | | | | 7 | | (9) | | 7 | | (9) | | | | | Other comprehensive income (loss), net of tax | | | | | 13 | | (3) | | 20 | | 3 | | | | | Ending balance | | | | | $ | (924) | | $ | (934) | | $ | (924) | | $ | (934) | | | | | Total Accumulated other comprehensive loss | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Beginning balance | | | | | $ | (3,598) | | $ | (2,590) | | $ | (2,806) | | $ | (2,341) | | | | | Shareholders' other comprehensive (loss), net of tax benefit of $257, $105, $514 and $187, respectively | | | | | (763) | | (226) | | (1,555) | | (475) | | | | | Ending balance | | | | | $ | (4,361) | | $ | (2,816) | | $ | (4,361) | | $ | (2,816) | | |
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