Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2026

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets

2. Goodwill and Other Intangible Assets

The changes in the carrying amount of goodwill reported in our segments were as follows:


		Retirement			Principal
		and Income			Asset			Benefits and
		Solutions			Management			Protection			Corporate			Consolidated

		(in millions)
Balance as of January 1, 2025		$	687.2		$	833.0		$	29.5		$	—		$	1,549.7
Foreign currency			—			50.8			—			—			50.8
Balance as of December 31, 2025			687.2			883.8			29.5			—			1,600.5
Goodwill from acquisitions (1)			—			—			325.4			—			325.4
Goodwill disposed (2)			—			(41.0)			—			—			(41.0)
Foreign currency			—			(24.3)			—			—			(24.3)
Balance as of September 30, 2026		$	687.2		$	818.5		$	354.9		$	—		$	1,860.6

(1)Relates to the acquisition of Beam Benefits (“Beam”).

(2)Relates to the disposition of our Chilean annuities business.

On September 1, 2026, we completed the purchase of Beam, which includes dental, vision and ancillary benefits supported by a cloud-native technology stack with artificial intelligence at its core. The purchase price consisted of $403.6 million cash paid at closing, net of cash acquired. The fair value of the net assets acquired primarily relates to intangible assets. Of the acquired intangible assets, $325.4 million was assigned to goodwill and is not subject to amortization. The goodwill is largely related to the opportunities to realize substantial revenue and cost synergies while achieving scale in operations. Of the remaining acquired intangible assets, $30.0 million was assigned to customer relationships, which are subject to amortization over a 10-year useful life, and $20.0 million was assigned to technology, which is subject to amortization over a 4-year useful life.