| Equity |
9. Equity
Accumulated Other Comprehensive Income (Loss)—The following provides the details and changes in AOCI: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (In millions) | Unrealized investment gains (losses) on AFS securities without a credit allowance | | Unrealized investment gains (losses) on AFS securities with a credit allowance | | Unrealized gains (losses) on hedging instruments | | Remeasurement gains (losses) on future policy benefits related to discount rate | | Remeasurement gains (losses) on market risk benefits related to credit risk | | Foreign currency translation and other adjustments | | Accumulated other comprehensive income (loss) | | Balance at March 31, 2026 | $ | (7,579) | | | $ | (249) | | | $ | 80 | | | $ | 4,631 | | | $ | (28) | | | $ | 25 | | | $ | (3,120) | | | | | | | | | | | | | | | | Other comprehensive income (loss) before reclassifications | 784 | | | 61 | | | (228) | | | (199) | | | (180) | | | (10) | | | 228 | | Less: Reclassification adjustments for gains (losses) realized in net income1 | 542 | | | (4) | | | 8 | | | — | | | — | | | — | | | 546 | | Less: Income tax expense (benefit) | 46 | | | 13 | | | (50) | | | (38) | | | (37) | | | (2) | | | (68) | | | Less: Other comprehensive income (loss) attributable to noncontrolling interests, net of tax | 7 | | | — | | | (76) | | | (63) | | | (26) | | | 1 | | | (157) | | | Balance at June 30, 2026 | $ | (7,390) | | | $ | (197) | | | $ | (30) | | | $ | 4,533 | | | $ | (145) | | | $ | 16 | | | $ | (3,213) | | | | | | | | | | | | | | | | 1 Recognized in investment related gains (losses) on the condensed consolidated statements of income (loss). |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (In millions) | Unrealized investment gains (losses) on AFS securities without a credit allowance | | Unrealized investment gains (losses) on AFS securities with a credit allowance | | Unrealized gains (losses) on hedging instruments | | Remeasurement gains (losses) on future policy benefits related to discount rate | | Remeasurement gains (losses) on market risk benefits related to credit risk | | Foreign currency translation and other adjustments | | Accumulated other comprehensive income (loss) | | Balance at March 31, 2025 | $ | (8,214) | | | $ | (313) | | | $ | (1) | | | $ | 3,986 | | | $ | (23) | | | $ | 4 | | | $ | (4,561) | | | | | | | | | | | | | | | | Other comprehensive income (loss) before reclassifications | 1,258 | | | 58 | | | 1 | | | (45) | | | (135) | | | 78 | | | 1,215 | | Less: Reclassification adjustments for gains (losses) realized in net income1 | (77) | | | (3) | | | 9 | | | — | | | — | | | — | | | (71) | | Less: Income tax expense (benefit) | 268 | | | 13 | | | (2) | | | (6) | | | (28) | | | 15 | | | 260 | | | Less: Other comprehensive income (loss) attributable to noncontrolling interests, net of tax | 234 | | | 5 | | | 20 | | | (96) | | | (15) | | | 5 | | | 153 | | | Balance at June 30, 2025 | $ | (7,381) | | | $ | (270) | | | $ | (27) | | | $ | 4,043 | | | $ | (115) | | | $ | 62 | | | $ | (3,688) | | | | | | | | | | | | | | | | 1 Recognized in investment related gains (losses) on the condensed consolidated statements of income (loss). |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (In millions) | Unrealized investment gains (losses) on AFS securities without a credit allowance | | Unrealized investment gains (losses) on AFS securities with a credit allowance | | Unrealized gains (losses) on hedging instruments | | Remeasurement gains (losses) on future policy benefits related to discount rate | | Remeasurement gains (losses) on market risk benefits related to credit risk | | Foreign currency translation and other adjustments | | Accumulated other comprehensive income (loss) | | Balance at December 31, 2025 | $ | (6,372) | | | $ | (252) | | | $ | (18) | | | $ | 4,137 | | | $ | (169) | | | $ | 33 | | | $ | (2,641) | | | | | | | | | | | | | | | | Other comprehensive income (loss) before reclassifications | (1,305) | | | 48 | | | (91) | | | 710 | | | 36 | | | (23) | | | (625) | | Less: Reclassification adjustments for gains (losses) realized in net income1 | 481 | | | (13) | | | 15 | | | — | | | — | | | — | | | 483 | | Less: Income tax expense (benefit) | (360) | | | 12 | | | (22) | | | 148 | | | 8 | | | (4) | | | (218) | | | Less: Other comprehensive income (loss) attributable to noncontrolling interests, net of tax | (408) | | | (6) | | | (72) | | | 166 | | | 4 | | | (2) | | | (318) | | | Balance at June 30, 2026 | $ | (7,390) | | | $ | (197) | | | $ | (30) | | | $ | 4,533 | | | $ | (145) | | | $ | 16 | | | $ | (3,213) | | | | | | | | | | | | | | | | 1 Recognized in investment related gains (losses) on the condensed consolidated statements of income (loss). |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (In millions) | Unrealized investment gains (losses) on AFS securities without a credit allowance | | Unrealized investment gains (losses) on AFS securities with a credit allowance | | Unrealized gains (losses) on hedging instruments | | Remeasurement gains (losses) on future policy benefits related to discount rate | | Remeasurement gains (losses) on market risk benefits related to credit risk | | Foreign currency translation and other adjustments | | Accumulated other comprehensive income (loss) | | Balance at December 31, 2024 | $ | (9,171) | | | $ | (284) | | | $ | (120) | | | $ | 4,235 | | | $ | (103) | | | $ | (22) | | | $ | (5,465) | | | | | | | | | | | | | | | | | Other comprehensive income (loss) before reclassifications | 2,596 | | | 21 | | | 240 | | | (573) | | | (19) | | | 114 | | | 2,379 | | Less: Reclassification adjustments for gains (losses) realized in net income1 | (268) | | | (3) | | | 19 | | | — | | | — | | | — | | | (252) | | Less: Income tax expense (benefit) | 580 | | | 5 | | | 46 | | | (116) | | | (4) | | | 22 | | | 533 | | | Less: Other comprehensive income (loss) attributable to noncontrolling interests, net of tax | 494 | | | 5 | | | 82 | | | (265) | | | (3) | | | 8 | | | 321 | | | Balance at June 30, 2025 | $ | (7,381) | | | $ | (270) | | | $ | (27) | | | $ | 4,043 | | | $ | (115) | | | $ | 62 | | | $ | (3,688) | | | | | | | | | | | | | | | | 1 Recognized in investment related gains (losses) on the condensed consolidated statements of income (loss). |
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