v3.26.1
EQUITY (Tables)
 6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Schedule of Stock by Class
Preferred stock authorized, issued and outstanding was as follows:
June 30, 2026December 31, 2025
SeriesShares AuthorizedShares
 Issued		Shares OutstandingShares AuthorizedShares
 Issued		Shares Outstanding
Series A 32,000 32,000 32,000 32,000 32,000 32,000 
Series B 20,000 — — 20,000 — — 
Series C12,000 12,000 12,000 12,000 12,000 12,000 
Total64,000 44,000 44,000 64,000 44,000 44,000 
Schedule of Dividends Declared
Dividends declared per share were as follows:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Series A dividends declared $328 $328 $656 $656 
Series B dividends declared$— $619 $— $619 
Series C dividends declared$269 $269 $538 $538 
Common Stock
Dividends declared per share of common stock were as follows:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Dividends declared$0.30 $0.27 $0.57 $0.51 
Schedule of Accumulated Other Comprehensive Income (Loss) The balances as of June 30, 2026 and December 31, 2025, follow:
June 30, 2026December 31, 2025
(in millions)
Unrealized gains (losses) on investments$(5,472)$(4,722)
Market risk benefits - instrument-specific credit risk component(722)(1,166)
Liability for future policy benefits - current discount rate component279 204 
Defined benefit pension plans(514)(563)
Foreign currency translation adjustments(63)(58)
Total accumulated other comprehensive income (loss)(6,492)(6,305)
Less: Accumulated other comprehensive income (loss) attributable to noncontrolling interest(27)(25)
Accumulated other comprehensive income (loss) attributable to Holdings$(6,465)$(6,280)
Schedule of Components of Accumulated Other Comprehensive Income (Loss), Net of Taxes
The components of OCI, net of taxes for the three and six months ended June 30, 2026 and 2025 are as follows:
Three Months Ended June 30,

Six Months Ended June 30,
2026202520262025
(in millions)
Change in net unrealized gains (losses) on investments:
Net unrealized gains (losses) arising during the period$(9)$335 $(722)$993 
(Gains) losses reclassified into net income (loss) during the period (1)18 28 34 34 
Net unrealized gains (losses) on investments9 363 (688)1,027 
Adjustments for policyholders’ liabilities, DAC, insurance liability loss recognition and other(15)(54)47 (109)
Change in unrealized gains (losses), net of adjustments (net of deferred income tax expense (benefit) of $4, $124, $(160) and $297)
(6)309 (641)918 
Change in LFPB discount rate and MRB credit risk, net of tax
Market risk benefits - changes in instrument-specific credit risk (net of deferred income tax expense (benefit) of $(45), $(45), $93 and $110)
(170)(170)351 414 
Liability for future policy benefits - changes in current discount rate (net of deferred income tax expense (benefit) of $0, $(8) $16 and $(25))
(1)(29)59 (92)
Change in defined benefit plans:
Reclassification to Net income (loss) of amortization of net prior service credit included in net periodic cost11 9 49 26 
Change in defined benefit plans (net of deferred income tax expense (benefit) of $(3), $(3), $(13) and $(1))
11 9 49 26 
Foreign currency translation adjustments:
Foreign currency translation gains (losses) arising during the period1 26 (5)37 
Foreign currency translation adjustment1 26 (5)37 
Total other comprehensive income (loss), net of income taxes(165)145 (187)1,303 
Less: Other comprehensive income (loss) attributable to noncontrolling interest— 10 (2)23 
Other comprehensive income (loss) attributable to Holdings$(165)$135 $(185)$1,280 
______________
(1)See “Reclassification adjustment” in Note 3 of the Notes to these Consolidated Financial Statements. Reclassification amounts presented net of income tax expense (benefit) of $(5) million, $(7) million, $(9) million and $(9) million for the three and six months ended June 30, 2026 and 2025, respectively.