
Nine Months Ended September 30, 2026	Common Stock Issued	Treasury Stock	Common Stock Outstanding

Shares, beginning of year	650,189,849	(153,816,103)	496,373,746
Shares issued under long-term incentive compensation plans	—	1,414,116	1,414,116
Shares repurchased	—	(57,473,155)	(57,473,155)
Shares, end of period	650,189,849	(209,875,142)	440,314,707


September 30, 2026
Announcement date	Authorized amount	Authorization Remaining*
(in millions)

June 23, 2025	$2,000	$857
February 11, 2025	$2,000	$—
April 30, 2024	$2,000	$—
May 4, 2023	$1,000	$—

* The authorization remaining at September 30, 2026 does not reflect the applicable excise tax payable due to the Inflation Reduction Act of 2022.

Common Stock Dividends


Declaration Date	Record Date	Payment Date	Dividend Paid Per Common Share

August 4, 2026	September 16, 2026	September 30, 2026	$0.25
May 4, 2026	June 16, 2026	June 30, 2026	$0.25
February 9, 2026	March 17, 2026	March 31, 2026	$0.25

Preferred Stock Dividends


Declaration Date	Record Date	Payment Date	Dividend Paid Per Common Share

May 5, 2026	May 15, 2026	June 1, 2026	$36.86


(in millions)	Unrealized appreciation (depreciation) of Fixed maturity securities on which allowance for credit losses was taken	Unrealized appreciation (depreciation) of all Other Investments	Change in fair value of market risk benefits attributable to changes in our own credit risk	Change in the discount rates used to measure traditional and limited payment long-duration insurance contracts	Cash flow hedges	Foreign currency translation adjustments	Retirement plan liabilities adjustment	Total
Three Months Ended September 30, 2026
Balance, June 30, 2026, net of tax	$(37)	$(12,951)	$(853)	$3,704	$(59)	$27	$2	$(10,167)
Change in unrealized appreciation (depreciation) of investments	13	(8,559)	—	—	—	—	—	(8,546)
Change in fair value of market risk benefits attributable to changes in our own credit risk	—	—	347	—	—	—	—	347
Change in discount rates assumptions of certain liabilities	—	—	—	2,087	—	—	—	2,087
Change in future policy benefits and other	—	204	—	—	—	—	—	204
Change in cash flow hedges	—	—	—	—	(436)	—	—	(436)
Change in foreign currency translation adjustments	—	—	—	—	—	(4)	—	(4)
Change in deferred tax asset (liability)	(3)	1,705	(75)	(452)	95	1	—	1,271
Total other comprehensive income (loss)	10	(6,650)	272	1,635	(341)	(3)	—	(5,077)
Less: Noncontrolling interests	—	—	—	—	—	—	—	—
Balance, September 30, 2026, net of tax	$(27)	$(19,601)	$(581)	$5,339	$(400)	$24	$2	$(15,244)


(in millions)	Unrealized appreciation (depreciation) of Fixed maturity securities on which allowance for credit losses was taken	Unrealized appreciation (depreciation) of all Other Investments	Change in fair value of market risk benefits attributable to changes in our own credit risk	Change in the discount rates used to measure traditional and limited payment long-duration insurance contracts	Cash flow hedges	Foreign currency translation adjustments	Retirement plan liabilities adjustment	Total
Three Months Ended September 30, 2025
Balance, June 30, 2025, net of tax	$(17)	$(13,483)	$(724)	$3,429	$136	$24	$2	$(10,633)
Change in unrealized appreciation (depreciation) of investments	(8)	2,413	—	—	—	—	—	2,405
Change in fair value of market risk benefits attributable to changes in our own credit risk	—	—	(337)	—	—	—	—	(337)
Change in discount rates assumptions of certain liabilities	—	—	—	(196)	—	—	—	(196)
Change in future policy benefits and other	(1)	(68)	—	—	—	—	—	(69)
Change in cash flow hedges	—	—	—	—	6	—	—	6
Change in foreign currency translation adjustments	—	—	—	—	—	9	—	9
Change in deferred tax asset (liability)	2	(325)	73	42	(2)	(3)	—	(213)
Total other comprehensive income (loss)	(7)	2,020	(264)	(154)	4	6	—	1,605
Less: Noncontrolling interests	—	—	—	—	—	—	—	—
Balance, September 30, 2025, net of tax	$(24)	$(11,463)	$(988)	$3,275	$140	$30	$2	$(9,028)
Nine Months Ended September 30, 2026
Balance at December 31, 2025, net of tax	$(29)	$(11,656)	$(1,116)	$3,250	$66	$31	$2	$(9,452)
Change in unrealized appreciation (depreciation) of investments	3	(10,066)	—	—	—	—	—	(10,063)
Change in fair value of market risk benefits attributable to changes in our own credit risk	—	—	682	—	—	—	—	682
Change in discount rates assumptions of certain liabilities	—	—	—	2,668	—	—	—	2,668
Change in future policy benefits and other	—	233	—	—	—	—	—	233
Change in cash flow hedges	—	—	—	—	(596)	—	—	(596)
Change in foreign currency translation adjustments	—	—	—	—	—	(8)	—	(8)
Change in deferred tax asset (liability)	(1)	1,888	(147)	(579)	130	1	—	1,292
Total other comprehensive income (loss)	2	(7,945)	535	2,089	(466)	(7)	—	(5,792)
Less: Noncontrolling interests	—	—	—	—	—	—	—	—
Balance, September 30, 2026, net of tax	$(27)	$(19,601)	$(581)	$5,339	$(400)	$24	$2	$(15,244)
Nine Months Ended September 30, 2025
Balance, December 31, 2024, net of tax	$(43)	$(16,229)	$(690)	$3,342	$(46)	$(17)	$2	$(13,681)
Change in unrealized appreciation (depreciation) of investments	25	5,984	—	—	—	—	—	6,009
Change in fair value of market risk benefits attributable to changes in our own credit risk	—	—	(381)	—	—	—	—	(381)
Change in discount rates assumptions of certain liabilities	—	—	—	(86)	—	—	—	(86)
Change in future policy benefits and other	(1)	(101)	—	—	—	—	—	(102)
Change in cash flow hedges	—	—	—	—	238	—	—	238
Change in foreign currency translation adjustments	—	—	—	—	—	55	—	55
Change in deferred tax asset (liability)	(5)	(1,117)	83	19	(52)	(7)	—	(1,079)
Total other comprehensive income (loss)	19	4,766	(298)	(67)	186	48	—	4,654
Less: Noncontrolling interests	—	—	—	—	—	1	—	1
Balance, September 30, 2025, net of tax	$(24)	$(11,463)	$(988)	$3,275	$140	$30	$2	$(9,028)

and 2025, respectively:


(in millions)	Unrealized appreciation (depreciation) of Fixed maturity securities on which allowance for credit losses was taken	Unrealized appreciation (depreciation) of all Other Investments	Change in fair value of market risk benefits attributable to changes in our own credit risk	Change in the discount rates used to measure traditional and limited payment long-duration insurance contracts	Cash flow hedges	Foreign currency translation adjustments	Total
Three Months Ended September 30, 2026
Unrealized change arising during period	$9	$(8,328)	$347	$2,087	$(436)	$(4)	$(6,325)
Less: Reclassification adjustments included in net income	(4)	27	—	—	—	—	23
Total other comprehensive income (loss), before income tax expense (benefit)	13	(8,355)	347	2,087	(436)	(4)	(6,348)
Less: Income tax expense (benefit)	3	(1,705)	75	452	(95)	(1)	(1,271)
Total other comprehensive income (loss), net of income tax expense (benefit)	$10	$(6,650)	$272	$1,635	$(341)	$(3)	$(5,077)
Three Months Ended September 30, 2025
Unrealized change arising during period	$(9)	$2,316	$(337)	$(196)	$6	$9	$1,789
Less: Reclassification adjustments included in net income	—	(29)	—	—	—	—	(29)
Total other comprehensive income (loss), before income tax expense (benefit)	(9)	2,345	(337)	(196)	6	9	1,818
Less: Income tax expense (benefit)	(2)	325	(73)	(42)	2	3	213
Total other comprehensive income (loss), net of income tax expense (benefit)	$(7)	$2,020	$(264)	$(154)	$4	$6	$1,605
Nine Months Ended September 30, 2026
Unrealized change arising during period	$4	$(10,129)	$682	$2,668	$(596)	$(8)	$(7,379)
Less: Reclassification adjustments included in net income	1	(296)	—	—	—	—	(295)
Total other comprehensive income (loss), before income tax expense (benefit)	3	(9,833)	682	2,668	(596)	(8)	(7,084)
Less: Income tax expense (benefit)	1	(1,888)	147	579	(130)	(1)	(1,292)
Total other comprehensive income (loss), net of income tax expense (benefit)	$2	$(7,945)	$535	$2,089	$(466)	$(7)	$(5,792)
Nine Months Ended September 30, 2025
Unrealized change arising during period	$23	$4,931	$(381)	$(53)	$238	$55	$4,813
Less: Reclassification adjustments included in net income	(1)	(952)	—	33	—	—	(920)
Total other comprehensive income (loss), before income tax expense (benefit)	24	5,883	(381)	(86)	238	55	5,733
Less: Income tax expense (benefit)	5	1,117	(83)	(19)	52	7	1,079
Total other comprehensive income (loss), net of income tax expense (benefit)	$19	$4,766	$(298)	$(67)	$186	$48	$4,654

The following table presents the effect of the reclassification of significant items out of Accumulated other comprehensive

income on the respective line items in the Condensed Consolidated Statements of Income (Loss)*:


	Amount Reclassified from AOCI				Affected Line Item in the Condensed Consolidated Statements of Income (Loss)
	Three Months Ended September 30,		Nine Months Ended September 30,
(in millions)	2026	2025	2026	2025
Unrealized appreciation (depreciation) of fixed maturity securities on which allowance for credit losses was taken
Investments	$(4)	$—	$1	$(1)	Net realized gains (losses)
Total	$(4)	$—	$1	$(1)
Unrealized appreciation (depreciation) of all other investments
Investments	$27	$(29)	$(296)	$(952)	Net realized gains (losses)
Total	$27	$(29)	$(296)	$(952)
Effect of changes in the discount rates used to measure traditional and limited-payment long duration insurance contracts
Reinsurance recapture	$—	$—	$—	$33	Policyholder benefits
Total	$—	$—	$—	$33
Total reclassifications for the period	$23	$(29)	$(295)	$(920)

*The following items are not reclassified out of AOCI and included in the Condensed Consolidated Statements of Income (Loss) and thus have been excluded from the

table:(a) Change in fair value of MRBs attributable to changes in our own credit risk; and (b) Change in the discount rates used to measure traditional and limited-

payment long-duration insurance contracts.


	Three Months Ended September 30,		Nine Months Ended September 30,
(in millions)	2026	2025	2026	2025
Beginning balance	$722	$867	$759	$864
Net income (loss)	4	(7)	(4)	(8)
Other comprehensive income, net of tax	—	—	—	1
Changes in noncontrolling interests due to divestitures and acquisitions	2	—	2	—
Contributions from noncontrolling interests	—	13	8	51
Distributions to noncontrolling interests	(31)	(92)	(63)	(124)
Other	—	(1)	(5)	(4)
Ending balance	$697	$780	$697	$780