| 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 June 30, 2026 | $ | (7,390) | | | $ | (197) | | | $ | (30) | | | $ | 4,533 | | | $ | (145) | | | $ | 16 | | | $ | (3,213) | | | | | | | | | | | | | | | | Other comprehensive income (loss) before reclassifications | (8,102) | | | (73) | | | (506) | | | 2,518 | | | 69 | | | (11) | | | (6,105) | | Less: Reclassification adjustments for gains (losses) realized in net income1 | (13) | | | (1) | | | — | | | — | | | — | | | — | | | (14) | | Less: Income tax expense (benefit) | (1,640) | | | (14) | | | (107) | | | 521 | | | 14 | | | (2) | | | (1,228) | | | Less: Other comprehensive income (loss) attributable to noncontrolling interests, net of tax | (1,486) | | | (9) | | | (170) | | | 621 | | | 10 | | | (1) | | | (1,035) | | | Balance at September 30, 2026 | $ | (12,353) | | | $ | (246) | | | $ | (259) | | | $ | 5,909 | | | $ | (100) | | | $ | 8 | | | $ | (7,041) | | | | | | | | | | | | | | | | 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 June 30, 2025 | $ | (7,381) | | | $ | (270) | | | $ | (27) | | | $ | 4,043 | | | $ | (115) | | | $ | 62 | | | $ | (3,688) | | | | | | | | | | | | | | | | Other comprehensive income (loss) before reclassifications | 1,964 | | | 4 | | | 75 | | | (235) | | | (113) | | | (36) | | | 1,659 | | Less: Reclassification adjustments for gains (losses) realized in net income1 | (90) | | | (1) | | | 8 | | | — | | | — | | | — | | | (83) | | Less: Income tax expense (benefit) | 424 | | | 1 | | | 14 | | | (52) | | | (24) | | | (7) | | | 356 | | | Less: Other comprehensive income (loss) attributable to noncontrolling interests, net of tax | 329 | | | 1 | | | 16 | | | (144) | | | (17) | | | (1) | | | 184 | | | Balance at September 30, 2025 | $ | (6,080) | | | $ | (267) | | | $ | 10 | | | $ | 4,004 | | | $ | (187) | | | $ | 34 | | | $ | (2,486) | | | | | | | | | | | | | | | | 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 | (9,407) | | | (25) | | | (597) | | | 3,228 | | | 105 | | | (34) | | | (6,730) | | Less: Reclassification adjustments for gains (losses) realized in net income1 | 468 | | | (14) | | | 15 | | | — | | | — | | | — | | | 469 | | Less: Income tax expense (benefit) | (2,000) | | | (2) | | | (129) | | | 669 | | | 22 | | | (6) | | | (1,446) | | | Less: Other comprehensive income (loss) attributable to noncontrolling interests, net of tax | (1,894) | | | (15) | | | (242) | | | 787 | | | 14 | | | (3) | | | (1,353) | | | Balance at September 30, 2026 | $ | (12,353) | | | $ | (246) | | | $ | (259) | | | $ | 5,909 | | | $ | (100) | | | $ | 8 | | | $ | (7,041) | | | | | | | | | | | | | | | | 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 | 4,560 | | | 25 | | | 315 | | | (808) | | | (132) | | | 78 | | | 4,038 | | Less: Reclassification adjustments for gains (losses) realized in net income1 | (358) | | | (4) | | | 27 | | | — | | | — | | | — | | | (335) | | Less: Income tax expense (benefit) | 1,004 | | | 6 | | | 60 | | | (168) | | | (28) | | | 15 | | | 889 | | | Less: Other comprehensive income (loss) attributable to noncontrolling interests, net of tax | 823 | | | 6 | | | 98 | | | (409) | | | (20) | | | 7 | | | 505 | | | Balance at September 30, 2025 | $ | (6,080) | | | $ | (267) | | | $ | 10 | | | $ | 4,004 | | | $ | (187) | | | $ | 34 | | | $ | (2,486) | | | | | | | | | | | | | | | | 1 Recognized in investment related gains (losses) on the condensed consolidated statements of income (loss). |
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