| Schedule of Changes in Accumulated Other Comprehensive Income (Loss), Net of Taxes |
The following tables show the changes in accumulated other comprehensive income (loss), net of taxes, by component as of and for the periods indicated: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (Amounts in millions) | Net
unrealized
investment
gains
(losses) | | Derivatives qualifying as hedges (1) | | Change in the
discount rate
used to
measure
future policy
benefits | | Change in
instrument-
specific
credit risk
of market
risk benefits | | Foreign
currency
translation
and other
adjustments | | Total | | Balances as of April 1, 2026 | $ | (2,526) | | | $ | 180 | | | $ | 1,112 | | | $ | (4) | | | $ | 14 | | | $ | (1,224) | | | OCI before reclassifications | 96 | | | 13 | | | (167) | | | 1 | | | 1 | | | (56) | | | Amounts reclassified from OCI | 4 | | | (31) | | | — | | | — | | | — | | | (27) | | | Current period OCI | 100 | | | (18) | | | (167) | | | 1 | | | 1 | | | (83) | | | Balances as of June 30, 2026 before noncontrolling interests | (2,426) | | | 162 | | | 945 | | | (3) | | | 15 | | | (1,307) | | | Less: change in OCI attributable to noncontrolling interests | — | | | — | | | — | | | — | | | — | | | — | | | Balances as of June 30, 2026 | $ | (2,426) | | | $ | 162 | | | $ | 945 | | | $ | (3) | | | $ | 15 | | | $ | (1,307) | |
______________ (1)See note 5 for additional information. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (Amounts in millions) | Net
unrealized
investment
gains
(losses) | | Derivatives qualifying as hedges (1) | | Change in the
discount rate
used to
measure
future policy
benefits | | Change in
instrument-
specific
credit risk
of market
risk benefits | | Foreign
currency
translation
and other
adjustments | | Total | | Balances as of April 1, 2025 | $ | (2,660) | | | $ | 535 | | | $ | 703 | | | $ | (6) | | | $ | 6 | | | $ | (1,422) | | | OCI before reclassifications | 120 | | | (124) | | | 66 | | | 1 | | | 12 | | | 75 | | | Amounts reclassified from OCI | 14 | | | (31) | | | — | | | — | | | — | | | (17) | | | Current period OCI | 134 | | | (155) | | | 66 | | | 1 | | | 12 | | | 58 | | | Balances as of June 30, 2025 before noncontrolling interests | (2,526) | | | 380 | | | 769 | | | (5) | | | 18 | | | (1,364) | | | Less: change in OCI attributable to noncontrolling interests | 10 | | | — | | | — | | | — | | | (1) | | | 9 | | | Balances as of June 30, 2025 | $ | (2,536) | | | $ | 380 | | | $ | 769 | | | $ | (5) | | | $ | 19 | | | $ | (1,373) | |
______________ (1)See note 5 for additional information. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (Amounts in millions) | Net
unrealized
investment
gains (losses) | | Derivatives qualifying as hedges (1) | | Change in the
discount rate
used to
measure
future policy
benefits | | Change in
instrument-
specific
credit risk
of market
risk benefits | | Foreign
currency
translation
and other
adjustments | | Total | | Balances as of January 1, 2026 | $ | (1,987) | | | $ | 187 | | | $ | 463 | | | $ | (4) | | | $ | 17 | | | $ | (1,324) | | | OCI before reclassifications | (470) | | | 36 | | | 482 | | | 1 | | | (2) | | | 47 | | | Amounts reclassified from OCI | 21 | | | (61) | | | — | | | — | | | — | | | (40) | | | Current period OCI | (449) | | | (25) | | | 482 | | | 1 | | | (2) | | | 7 | | | Balances as of June 30, 2026 before noncontrolling interests | (2,436) | | | 162 | | | 945 | | | (3) | | | 15 | | | (1,317) | | | Less: change in OCI attributable to noncontrolling interests | (10) | | | — | | | — | | | — | | | — | | | (10) | | | Balances as of June 30, 2026 | $ | (2,426) | | | $ | 162 | | | $ | 945 | | | $ | (3) | | | $ | 15 | | | $ | (1,307) | |
______________ (1)See note 5 for additional information. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (Amounts in millions) | Net
unrealized
investment
gains (losses) | | Derivatives qualifying as hedges (1) | | Change in the
discount rate
used to
measure
future policy
benefits | | Change in
instrument-
specific
credit risk
of market
risk benefits | | Foreign
currency
translation
and other
adjustments | | Total | | Balances as of January 1, 2025 | $ | (3,156) | | | $ | 492 | | | $ | 1,022 | | | $ | (5) | | | $ | 4 | | | $ | (1,643) | | | OCI before reclassifications | 623 | | | (50) | | | (253) | | | — | | | 14 | | | 334 | | | Amounts reclassified from OCI | 17 | | | (62) | | | — | | | — | | | — | | | (45) | | | Current period OCI | 640 | | | (112) | | | (253) | | | — | | | 14 | | | 289 | | | Balances as of June 30, 2025 before noncontrolling interests | (2,516) | | | 380 | | | 769 | | | (5) | | | 18 | | | (1,354) | | | Less: change in OCI attributable to noncontrolling interests | 20 | | | — | | | — | | | — | | | (1) | | | 19 | | | Balances as of June 30, 2025 | $ | (2,536) | | | $ | 380 | | | $ | 769 | | | $ | (5) | | | $ | 19 | | | $ | (1,373) | |
______________ (1)See note 5 for additional information.
|
| Schedule of Reclassifications in (out) of Accumulated Other Comprehensive Income (Loss), Net of Taxes |
The following table shows reclassifications from accumulated other comprehensive income (loss), net of taxes, for the periods indicated: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended
June 30, | | Six months ended
June 30, | | Affected line item in the condensed consolidated statements of operations | | (Amounts in millions) | 2026 | | 2025 | | 2026 | | 2025 | | | | Net unrealized investment (gains) losses: | | | | | | | | | | | | | Unrealized (gains) losses on investments | $ | 5 | | | $ | 18 | | | $ | 26 | | | $ | 22 | | | | | Net investment (gains) losses | | Income taxes | (1) | | | (4) | | | (5) | | | (5) | | | | | Provision (benefit) for income taxes | | Total | $ | 4 | | | $ | 14 | | | $ | 21 | | | $ | 17 | | | | | | | Derivatives qualifying as hedges: | | | | | | | | | | | | | Interest rate swaps hedging assets | $ | (42) | | | $ | (47) | | | $ | (86) | | | $ | (95) | | | | | Net investment income | | Interest rate swaps hedging assets | (5) | | | (1) | | | (8) | | | (2) | | | | | Net investment (gains) losses | | Interest rate swaps hedging liabilities | — | | | 1 | | | 1 | | | 1 | | | | | Interest expense | | | | | | | | | | | | | | | | | | | | | | | | | | Forward bond purchase commitments | (1) | | | — | | | (1) | | | — | | | | | Net investment (gains) losses | | Income taxes | 17 | | | 16 | | | 33 | | | 34 | | | | | Provision (benefit) for income taxes | | Total | $ | (31) | | | $ | (31) | | | $ | (61) | | | $ | (62) | | | | | |
|