The following table presents the roll-forward of DAC (in millions). The current period amortization is based on the end of the period estimates of mortality and persistency. The amortization pattern is revised on a prospective basis at the beginning of the period based on the period’s actual experience.
| | | | | | | | | | | | | Nine Months Ended September 30, | | Year Ended December 31, | | 2026 | | 2025 | | Variable Annuities | | | | | Balance, beginning of period | $ | 10,810 | | | $ | 11,314 | | | | | | | Deferrals of acquisition costs | 480 | | | 526 | | | Amortization | (760) | | | (1,030) | | | Variable Annuities balance, end of period | $ | 10,530 | | $ | 10,810 | | | | | | | RILA | | | | | Balance, beginning of period | $ | 637 | | $ | 399 | | | Deferrals of acquisition costs | 307 | | 294 | | | Amortization | (68) | | (56) | | | RILA balance, end of period | $ | 876 | | $ | 637 | | | | | | | Reconciliation of total DAC | | | | | Variable Annuities balance, end of period | $ | 10,530 | | | $ | 10,810 | | | RILA balance, end of period | 876 | | | 637 | | | Other product lines, end of period | 294 | | | 213 | | | Total balance, end of period | $ | 11,700 | | | $ | 11,660 | |
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