The Company has entered into contracts with mutual funds, fund managers, and their affiliates (collectively, the “Funds”) whereby the Company is paid monthly or quarterly fees (“12b-1 fees”) for providing certain services to customers and distributors of the Funds. The 12b-1 fees, which are included in other revenues, are generally equal to a fixed percentage of the average daily balance of the customer’s investment in a fund. The percentage is specified in the contract between the Company and the Funds. Payments are generally collected when due and are neither refundable nor able to offset future fees.

To earn these fees, the Company performs services such as responding to phone inquiries, maintaining records, providing information to distributors and shareholders about fund performance and providing training to account managers and sales agents. The passage of time reflects the satisfaction of the Company’s performance obligations to the Funds and is used to recognize revenue associated with 12b-1 fees.

Other revenues included 12b-1 fees of $61 million and $125 million for the three months and six months ended June 30, 2026, respectively, and $64 million and $129 million for the three months and six months ended June 30, 2025, respectively, of which substantially all were reported in the Annuities segment.


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
	(In millions)
Compensation	$	111	$	103	$	225	$	233
Contracted services and other labor costs	79		76		156		148
Transition services agreements	4		4		7		7
Premium and other taxes, licenses and fees	2		10		17		26
Separate account fees	80		80		160		163
Volume related costs, excluding compensation, net of DAC capitalization	161		153		293		285
Interest expense on debt	38		38		76		76
Other	12		18		30		37
Total other expenses	$	487	$	482	$	964	$	975