v3.26.3
Equity (Tables)
 9 Months Ended
Sep. 30, 2026
Stockholders' Equity Note [Abstract]  
Rollforward of Common Stock Outstanding
The following table presents a rollforward of outstanding shares:
Nine Months Ended September 30, 2026
Common
Stock Issued		Treasury
Stock		Common Stock
Outstanding
(in millions)
Shares, beginning of year1,906.7 (1,368.5)538.2 
Shares issued— 2.5 2.5 
Shares repurchased— (22.0)(22.0)
Shares, end of period1,906.7 (1,388.0)518.7 
Schedule of Accumulated Other Comprehensive Income (Loss)
The following table presents a rollforward of Accumulated other comprehensive income (loss):
(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 the
discount rates
used to measure
traditional and
limited payment
long-duration
insurance contracts		Foreign
Currency
Translation
Adjustments		Retirement
Plan
Liabilities
Adjustment		Total
Balance, June 30, 2026, net of tax$(3)$(1,881)$96 $(3,113)$(705)$(5,606)
Change in unrealized appreciation (depreciation) of investments
5 (2,051)— — — (2,046)
Change in other— 5 — — — 5 
Change in discount rates— — 15 — — 15 
Change in foreign currency translation adjustments
— — — 78 — 78 
Change in net actuarial loss
— — — — 7 7 
Change in prior service cost
— — — — 1 1 
Change in deferred tax asset (liability)
(1)86 (3)12 (2)92 
Total other comprehensive income (loss)4 (1,960)12 90 6 (1,848)
Balance, September 30, 2026, net of tax$1 $(3,841)$108 $(3,023)$(699)$(7,454)
Balance, June 30, 2025, net of tax$(6)$(1,951)$75 $(2,899)$(767)$(5,548)
Change in unrealized appreciation (depreciation) of investments
— 543 — — — 543 
Change in other— 20 — — — 20 
Change in discount rates— — 7 — — 7 
Change in foreign currency translation adjustments
— — — (52)— (52)
Change in net actuarial loss
— — — — 8 8 
Change in prior service cost
— — — — 1 1 
Change in deferred tax asset (liability)
— (16)(2)(4)(3)(25)
Total other comprehensive income (loss)— 547 5 (56)6 502 
Balance, September 30, 2025, net of tax$(6)$(1,404)$80 $(2,955)$(761)$(5,046)
Balance, December 31, 2025, net of tax$(3)$(1,373)$87 $(2,981)$(717)$(4,987)
Change in unrealized appreciation (depreciation) of investments
5 (2,615)— — — (2,610)
Change in other— (15)— — — (15)
Change in discount rates— — 28 — — 28 
Change in foreign currency translation adjustments— — — (45)— (45)
Change in net actuarial loss— — — — 21 21 
Change in prior service cost
— — — — 3 3 
Change in deferred tax asset (liability)(1)162 (7)3 (6)151 
Total other comprehensive income (loss)4 (2,468)21 (42)18 (2,467)
Balance, September 30, 2026, net of tax$1 $(3,841)$108 $(3,023)$(699)$(7,454)
Balance, December 31, 2024, net of tax$(4)$(2,868)$68 $(3,521)$(774)$(7,099)
Change in unrealized appreciation (depreciation) of investments(3)1,373 — — — 1,370 
Change in other— 17 — — — 17 
Change in discount rates— — 16 — — 16 
Change in foreign currency translation adjustments— — — 537 — 537 
Change in net actuarial loss— — — — 18 18 
Change in prior service cost— — — — 1 1 
Change in deferred tax asset (liability)
1 74 (4)30 (6)95 
Total other comprehensive income (loss)(2)1,464 12 567 13 2,054 
Less: Noncontrolling interests— — — 1 — 1 
Balance, September 30, 2025, net of tax$(6)$(1,404)$80 $(2,955)$(761)$(5,046)
Schedule of Other Comprehensive Income (Loss) Reclassification Adjustments
The following table presents the other comprehensive income (loss) reclassification adjustments for the three and nine months ended September 30, 2026 and 2025, respectively:
(in millions)Unrealized
Appreciation
(Depreciation)
of Fixed Maturity
Securities on Which
Allowance for Credit
Losses Was Taken		Unrealized
Appreciation
(Depreciation)
of All Other
Investments		Change in the
discount rates
used to measure
traditional and
limited payment
long-duration
insurance contracts		Foreign
Currency
Translation
Adjustments		Retirement
Plan
Liabilities
Adjustment		Total
Three Months Ended September 30, 2026
Unrealized change arising during period$— $(2,220)$15 $78 $(3)$(2,130)
Less: Reclassification adjustments included in net income(5)(174)— — (11)(190)
Total other comprehensive income (loss), before income tax expense (benefit)5 (2,046)15 78 8 (1,940)
Less: Income tax expense (benefit)1 (86)3 (12)2 (92)
Total other comprehensive income (loss), net of income tax expense (benefit)$4 $(1,960)$12 $90 $6 $(1,848)
Three Months Ended September 30, 2025
Unrealized change arising during period$— $461 $7 $(52)$— $416 
Less: Reclassification adjustments included in net income
— (102)— — (9)(111)
Total other comprehensive income (loss), before income tax expense (benefit)— 563 7 (52)9 527 
Less: Income tax expense (benefit)— 16 2 4 3 25 
Total other comprehensive income (loss), net of income tax expense (benefit)$— $547 $5 $(56)$6 $502 
Nine Months Ended September 30, 2026
Unrealized change arising during period$— $(2,997)$28 $(45)$(2)$(3,016)
Less: Reclassification adjustments included in net income(5)(367)— — (26)(398)
Total other comprehensive income (loss), before income tax expense (benefit)5 (2,630)28 (45)24 (2,618)
Less: Income tax expense (benefit)1 (162)7 (3)6 (151)
Total other comprehensive income (loss), net of income tax expense (benefit)$4 $(2,468)$21 $(42)$18 $(2,467)
Nine Months Ended September 30, 2025
Unrealized change arising during period$(3)$875 $16 $537 $(5)$1,420 
Less: Reclassification adjustments included in net income— (515)— — (24)(539)
Total other comprehensive income (loss), before income tax expense (benefit)(3)1,390 16 537 19 1,959 
Less: Income tax expense (benefit)(1)(74)4 (30)6 (95)
Total other comprehensive income (loss), net of income tax expense (benefit)$(2)$1,464 $12 $567 $13 $2,054 
Schedule of Effect of the Reclassification of Significant Items out of Accumulated Other Comprehensive Income on the Respective Line Items in the Consolidated Statements of Income
The following table presents the effect of the reclassification of significant items out of AOCI on the respective line items in the Condensed Consolidated Statements of Income (Loss)(a):
Amount Reclassified from AOCIAffected Line Item in the
Three Months Ended September 30,Nine Months Ended September 30,Condensed Consolidated
(in millions)2026202520262025Statements of Income (Loss)
Unrealized appreciation (depreciation) of fixed maturity securities on which allowance for credit losses was taken
Investments$(5)$— $(5)$— Net realized gains (losses)
Total(5)— (5)— 
Unrealized appreciation (depreciation) of all other investments
Investments$(174)$(102)$(367)$(515)Net realized gains (losses)
Total(174)(102)(367)(515)
Change in retirement plan liabilities adjustment
Prior-service credit(1)(1)(3)(2)
(b)
Actuarial losses(10)(8)(23)(22)
(b)
Total(11)(9)(26)(24)
Total reclassifications for the period$(190)$(111)$(398)$(539)
(a)Change in the discount rates used to measure traditional and limited-payment long-duration insurance contracts is not reclassified out of AOCI and included in the Condensed Consolidated Statements of Income (Loss) and thus have been excluded from the table.
(b)These AOCI components are included in the computation of net periodic pension cost.