v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net earnings $ 597 $ 376
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 434 396
Equity in earnings of unconsolidated affiliates 1 (10)
Loss on sales of investments and other assets and asset impairments, net 48 35
Gain on the sale of businesses (14) 0
Interest credited/index credits to contractholder account balances 907 608
Change in market risk benefits, net 105 105
Deferred policy acquisition costs and deferred sales inducements (576) (645)
Charges assessed to contractholders for mortality and admin (161) (165)
Non-cash lease costs 64 65
Operating lease payments (68) (69)
Distributions from unconsolidated affiliates, return on investment 81 104
Stock-based compensation cost 46 41
Change in NAV of limited partnerships, net (194) (126)
Change in valuation of derivatives, equity securities, preferred securities, and other assets, net (288) 154
Changes in assets and liabilities, net of effects from acquisitions:    
Change in derivative collateral liabilities (77) 95
Change in reinsurance recoverable 22 2
Change in future policy benefits 295 548
Change in funds withheld from reinsurers 1,624 1,607
Net increase in trade receivables (91) (16)
Net increase (decrease) in reserve for title claim losses 15 (17)
Net change in income taxes 108 (52)
Net change in other assets and other liabilities (132) (25)
Net cash provided by operating activities 2,746 3,011
Cash flows from investing activities:    
Proceeds from sales, calls and maturities of investment securities 10,469 6,451
Additions to property and equipment, capitalized software and title plants (63) (75)
Purchases of investment securities (12,086) (11,471)
Net proceeds from sales and maturities of short-term investment securities 940 1,750
Acquisitions and dispositions 34 (9)
Additional investments in unconsolidated affiliates (532) (1,087)
Distributions from unconsolidated affiliates, return of investment 343 180
Net other investing activities (21) (7)
Net cash used in investing activities (916) (4,268)
Cash flows from financing activities:    
Borrowings 0 10
Debt offering 0 375
Debt service payments 0 (300)
Dividends paid (278) (271)
Subsidiary dividends paid to non-controlling interest shareholders (39) (26)
Subsidiary repurchases of own equity (123) 0
Net change in secured trust deposits 284 294
Payment of contingent consideration for prior period acquisitions (21) (22)
Contractholder account deposits 4,437 5,500
Contractholder account withdrawals (5,004) (4,430)
Purchases of treasury stock (138) (178)
F&G common stock offering 0 117
Other financing activities (2) (19)
Net cash (used in) provided by financing activities (884) 1,050
Net increase (decrease) in cash and cash equivalents 946 (207)
Cash and cash equivalents at beginning of period 2,636 3,479
Cash and cash equivalents at end of period $ 3,582 $ 3,272