v3.26.3
INVESTMENTS (Tables)
 9 Months Ended
Sep. 30, 2026
Schedule of Investments [Line Items]  
Available-for-Sale Securities
The amortized cost and allowance for credit losses for the Company's investments in fixed maturity securities and the fair values of these investments as well as the fair value of the Company's investments in equity securities are presented in the following tables.
  
September 30, 2026
(In millions)Amortized
Cost		Allowance
for Credit
Losses		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Securities available-for-sale, carried at fair
  value through other comprehensive income:
Fixed maturity securities:
  Yen-denominated:
Japan government and agencies$16,808 $0 $14 $3,634 $13,188 
Municipalities851 0 1 210 642 
Mortgage- and asset-backed securities461 0 0 62 399 
Public utilities2,411 0 43 279 2,175 
Sovereign and supranational326 0 5 31 300 
Banks/financial institutions5,404 0 111 704 4,811 
Other corporate5,549 0 172 835 4,886 
Total yen-denominated31,810 0 346 5,755 26,401 
  U.S. dollar-denominated:
U.S. government and agencies164 0 0 7 157 
Municipalities1,086 0 52 118 1,020 
Mortgage- and asset-backed securities5,657 0 136 166 5,627 
Public utilities4,370 0 254 268 4,356 
Sovereign and supranational58 0 14 0 72 
Banks/financial institutions4,055 0 279 118 4,216 
Other corporate18,502 0 1,531 1,144 18,889 
Total U.S. dollar-denominated33,892 0 2,266 1,821 34,337 
Other currencies:
Mortgage- and asset-backed securities103 0 2 3 102 
Public utilities52 0 0 1 51 
Other corporate
24 0 0 0 24 
Total other currencies
179 0 2 4 177 
Total securities available-for-sale$65,881 $0 $2,614 $7,580 $60,915 
  
December 31, 2025
(In millions)Amortized
Cost		Allowance
for Credit
Losses		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Securities available-for-sale, carried at fair
  value through other comprehensive income:
Fixed maturity securities:
  Yen-denominated:
Japan government and agencies$18,063 $0 $41 $3,727 $14,377 
Municipalities856 0 5 145 716 
Mortgage- and asset-backed securities297 0 1 38 260 
Public utilities2,519 0 123 174 2,468 
Sovereign and supranational330 0 7 13 324 
Banks/financial institutions5,382 0 170 477 5,075 
Other corporate5,438 0 357 534 5,261 
Total yen-denominated32,885 0 704 5,108 28,481 
  U.S. dollar-denominated:
U.S. government and agencies230 0 2 2 230 
Municipalities1,185 0 83 54 1,214 
Mortgage- and asset-backed securities3,854 0 239 35 4,058 
Public utilities4,292 0 465 107 4,650 
Sovereign and supranational57 0 21 0 78 
Banks/financial institutions3,672 0 518 21 4,169 
Other corporate18,967 0 2,740 597 21,110 
Total U.S. dollar-denominated32,257 0 4,068 816 35,509 
Other currencies:
Mortgage- and asset-backed securities44 0 4 0 48 
Public utilities52 0 4 0 56 
Other corporate25 0 2 0 27 
Total other currencies121 0 10 0 131 
Total securities available-for-sale$65,263 $0 $4,782 $5,924 $64,121 
Held-to-Maturity Securities
  
September 30, 2026
(In millions)Amortized
Cost		Allowance
for Credit
Losses		Net
Carrying
Amount		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Securities held-to-maturity, carried at
  amortized cost:
Fixed maturity securities:
  Yen-denominated:
Japan government and agencies$15,377 $1 $15,376 $0 $1,604 $13,772 
Municipalities232 0 232 0 27 205 
Public utilities32 0 32 0 6 26 
Sovereign and supranational346 3 343 0 31 312 
Other corporate16 0 16 0 2 14 
Total yen-denominated16,003 4 15,999 0 1,670 14,329 
Total securities held-to-maturity$16,003 $4 $15,999 $0 $1,670 $14,329 
  
December 31, 2025
(In millions)Amortized
Cost		Allowance
for Credit
Losses		Net
Carrying
Amount		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Securities held-to-maturity, carried at
  amortized cost:
Fixed maturity securities:
  Yen-denominated:
Japan government and agencies$15,461 $2 $15,459 $81 $713 $14,827 
Municipalities235 0 235 0 6 229 
Public utilities32 0 32 0 3 29 
Sovereign and supranational381 3 378 6 9 375 
Other corporate16 0 16 0 0 16 
Total yen-denominated16,125 5 16,120 87 731 15,476 
Total securities held-to-maturity$16,125 $5 $16,120 $87 $731 $15,476 
Equity Securities, FV-NI
September 30,
2026		December 31,
2025
(In millions)Fair ValueFair Value
Equity securities, carried at fair value through net earnings:
Equity securities:
Yen-denominated
$744 $609 
U.S. dollar-denominated242 278 
Total equity securities$986 $887 
Investments Classified by Contractual Maturity Date
The contractual and economic maturities of the Company's investments in fixed maturity securities at September 30, 2026, were as follows:
(In millions)
Amortized
Cost (1)
Fair
Value
Available-for-sale:
Due in one year or less$2,081 $2,193 
Due after one year through five years6,514 6,963 
Due after five years through 10 years17,017 16,838 
Due after 10 years34,048 28,793 
Mortgage- and asset-backed securities6,221 6,128 
Total fixed maturity securities available-for-sale$65,881 $60,915 
Held-to-maturity:
Due in one year or less$2 $2 
Due after one year through five years6,196 6,046 
Due after five years through 10 years2,543 2,444 
Due after 10 years7,258 5,837 
Total fixed maturity securities held-to-maturity$15,999 $14,329 
(1) Net of allowance for credit losses
Investment Exposures Exceeding Ten Percent Shareholders' Equity
Investment exposures that individually exceeded 10% of shareholders' equity were as follows:
September 30, 2026December 31, 2025
(In millions)Credit
Rating		Amortized
Cost		Fair
Value		Credit
Rating		Amortized
Cost		Fair
Value
Japan National Government(1)
A+$31,351$26,334A+$32,618$28,434
(1) Japan Government Bonds (JGBs) or JGB-backed securities
Gain (Loss) on Investments
Information regarding pretax net investment gains and losses was as follows:
  
Three Months Ended September 30,Nine Months Ended September 30,
(In millions)2026202520262025
Net investment gains (losses):
Sales and redemptions:
Fixed maturity securities available-for-sale:
Gross gains from sales$5 $29 $6 $148 
Gross losses from sales(925)(96)(1,903)(429)
Foreign currency gains (losses)79 99 804 339 
Other investments:
Gross gains (losses) from sales and redemptions(1)1 (3)13 
Total sales and redemptions(842)33 (1,096)71 
Equity securities19 

10 92 47 
Impairment losses(1)0 (36)(6)
Credit losses:
Fixed maturity securities held-to-maturity0 0 1 0 
Commercial mortgage and other loans(92)(51)(218)(165)
Loan commitments(11)(2)(10)(2)
Reinsurance recoverables and other1 0 (13)1 
Total credit losses(102)(53)(240)(166)
Derivatives and other:
Derivative gains (losses)199 (123)(30)(145)
Foreign currency gains (losses)(345)408 134 (910)
Total derivatives and other(146)285 104 (1,055)
Total net investment gains (losses)$(1,072)$275 $(1,176)$(1,109)
Net Effect on Shareholders' Equity of Unrealized Gains and Losses from Investment Securities
The net effect on shareholders’ equity of unrealized gains and losses from fixed maturity securities was as follows:
(In millions)September 30,
2026		December 31,
2025
Unrealized gains (losses) on securities available-for-sale$(4,966)$(1,142)
Deferred income taxes(29)(667)
Shareholders’ equity, unrealized gains (losses) on fixed maturity securities$(4,995)$(1,809)
Investments Gross Unrealized Loss Aging
The following tables present the fair values and gross unrealized losses of the Company's available-for-sale securities for the periods ended September 30, 2026 and December 31, 2025, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position.
  
September 30, 2026
  
TotalLess than 12 months12 months or longer
(In millions)Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
Fixed maturity securities available-
   for-sale:
U.S. government and
    agencies:
U.S. dollar-denominated$154 $7 $119 $3 $35 $4 
Japan government and
    agencies:
Yen-denominated13,022 3,634 6,242 271 6,780 3,363 
Municipalities:
U.S. dollar-denominated656 118 192 18 464 100 
Yen-denominated559 210 313 33 246 177 
Mortgage- and asset-
    backed securities:
U.S. dollar-denominated3,415 166 3,129 124 286 42 
Yen-denominated393 62 233 13 160 49 
Other currencies57 3 57 3 0 0 
Public utilities:
U.S. dollar-denominated2,520 268 1,894 114 626 154 
Yen-denominated1,433 279 675 30 758 249 
Other currencies51 1 51 1 0 0 
Sovereign and supranational:
Yen-denominated254 31 219 16 35 15 
Banks/financial institutions:
U.S. dollar-denominated2,117 118 1,979 85 138 33 
Yen-denominated3,540 704 662 36 2,878 668 
Other corporate:
U.S. dollar-denominated9,561 1,144 6,672 362 2,889 782 
Yen-denominated 3,020 835 1,074 86 1,946 749 
Total$40,752 $7,580 $23,511 $1,195 $17,241 $6,385 
  
December 31, 2025
  
TotalLess than 12 months12 months or longer
(In millions)Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
Fixed maturity securities available-
   for-sale:
U.S. government and
    agencies:
U.S. dollar-denominated$37 $2 $0 $0 $37 $2 
Japan government and
    agencies:
Yen-denominated13,521 3,727 7,966 692 5,555 3,035 
Municipalities:
U.S. dollar-denominated630 54 8 0 622 54 
Yen-denominated520 145 234 6 286 139 
Mortgage- and asset-
    backed securities:
U.S. dollar-denominated547 35 217 5 330 30 
Yen-denominated183 38 9 1 174 37 
Public utilities:
U.S. dollar-denominated1,055 107 169 2 886 105 
Yen-denominated838 174 0 0 838 174 
Sovereign and supranational:
Yen-denominated276 13 236 0 40 13 
Banks/financial institutions:
U.S. dollar-denominated252 21 62 0 190 21 
Yen-denominated3,467 477 495 26 2,972 451 
Other corporate:
U.S. dollar-denominated4,535 597 620 5 3,915 592 
Yen-denominated2,395 534 640 33 1,755 501 
Total$28,256 $5,924 $10,656 $770 $17,600 $5,154 
Commercial Mortgage and Other Loans by Property Type
The following table presents the composition of the carrying value for commercial mortgage and other loans by property type as of the periods presented.
September 30, 2026December 31, 2025
(In millions)Amortized
Cost		% of
Total		Amortized
Cost		% of
Total
Commercial mortgage and other loans:
Transitional real estate loans:
Office$1,311 13.9 %$1,229 12.1 %
Retail153 1.6 267 2.6 
Apartments/Multi-Family1,235 13.1 1,555 15.3 
Industrial47 .5 75 .7 
Hospitality382 4.0 522 5.1 
Other32 .3 240 2.4 
Total transitional real estate loans3,160 33.4 3,888 38.2 
Commercial mortgage loans:
Office227 2.4 255 2.5 
Retail183 1.9 217 2.1 
Apartments/Multi-Family453 4.8 539 5.3 
Industrial400 4.2 427 4.2 
Other14 .2 14 .1 
Total commercial mortgage loans1,277 13.5 1,452 14.2 
Middle market loans4,525 47.8 4,404 43.2 
Other loans502 5.3 447 4.4 
Total commercial mortgage and other loans$9,464 100.0 %$10,191 100.0 %
Allowance for credit losses(607)(426)
Total net commercial mortgage and other loans$8,857 $9,765 
Financing Receivable Nonaccrual
The following tables present an aging of past due and nonaccrual loans at amortized cost, before allowance for credit losses, as of the periods presented.
September 30, 2026
(In millions)Current Less Than
90 Days
Past Due
90 Days
or More
 Past Due(1)
Total Past
Due		Total
Loans		Nonaccrual
Status
Transitional real estate loans$2,559 $135 $466 $601 $3,160 $929 
Commercial mortgage loans1,277 0 0 0 1,277 0 
Middle market loans4,390 2 133 135 4,525 185 
Other loans502 0 0 0 502 0 
Total$8,728 $137 $599 $736 $9,464 $1,114 
(1) As of September 30, 2026, there were no loans that were 90 days or more past due that continued to accrue interest.

December 31, 2025
(In millions)Current Less Than
90 Days
Past Due
90 Days
or More
 Past Due(1)
Total Past
Due		Total
Loans		Nonaccrual
Status
Transitional real estate loans$3,418 $0 $470 $470 $3,888 $545 
Commercial mortgage loans1,452 0 0 0 1,452 0 
Middle market loans4,263 58 83 141 4,404 98 
Other loans447 0 0 0 447 0 
Total$9,580 $58 $553 $611 $10,191 $643 
(1) As of December 31, 2025, there were no loans that were 90 days or more past due that continued to accrue interest.
Effect of Loan Modifications
The following tables present the amortized cost basis of modified loans to borrowers experiencing financial difficulty and the financial effect of the modifications, disaggregated by loan classification and type of modification.
Three Months Ended
September 30, 2026
(In millions)
Amortized Cost (1)
% of TotalFinancial Effect
Transitional Real Estate Loans:
Term extension$131 4.7 %
Term extension of 2 months on average
Middle market loans:
Term extension$30 .7 %
Term extension of 45 months on average
Other-than-insignificant
  payment delays		41 1.0 
Delay in principal and interest payments of 7 months on average
Principal forgiveness and interest
  rate reduction		2 .0 
Reduction in the amortized cost basis of $1 million and reduction in the weighted-average contractual interest rate from 9.4% to 5.0%
Principal forgiveness and term extension32 .7 
Reduction in the amortized cost basis of $16 million and term extension of 41 months on average
(1) Net of allowance for credit losses
Three Months Ended
September 30, 2025
(In millions)
Amortized Cost (1)
% of TotalFinancial Effect
Middle market loans:
Term extension$13 .3 %
Term extension of 17 months on average
Principal forgiveness and term
  extension		9 .2 
Reduction in the amortized cost basis of $6 million and term extension of 43 months on average
Principal forgiveness, term
extension and interest rate reduction
13 .3 
Reduction in the amortized cost basis of $5 million, term extension of 45 months on average and reduction in the weighted-average contractual interest rate from 10.5% to 9.5%
(1) Net of allowance for credit losses
Nine Months Ended
September 30, 2026
(In millions)
Amortized Cost (1)
% of TotalFinancial Effect
Transitional real estate loans:
Term extension$131 4.7 %
Term extension of 2 months on average
Other-than-insignificant payment
  delays		107 3.8 
Delay in principal and interest payments of 3 months on average
Term extension and interest rate reduction149 5.3 
Term extension of 24 months on average and reduction in the weighted-average contractual interest rate from 6.6% to 2.2%
Middle market loans:
Term extension$57 1.3 %
Term extension of 26 months on average
Other-than-insignificant
  payment delays		41 1.0 
Delay in principal and interest payments of 7 months on average
Principal forgiveness and interest
  rate reduction		2 .0 
Reduction in the amortized cost basis of $1 million and reduction in the weighted-average contractual interest rate from 9.4% to 5.0%
Principal forgiveness and term
  extension		38 .9 
Reduction in the amortized cost basis of $27 million and term extension of 37 months on average
(1) Net of allowance for credit losses
Nine Months Ended
September 30, 2025
(In millions)
Amortized Cost (1)
% of TotalFinancial Effect
Transitional real estate loans:
Term extension$158 3.9 %
Term extension of 20 months on average
Term extension and interest rate reduction155 3.8 
Term extension of 26 months on average and reduction in the weighted-average contractual interest rate from 4.8% to 4.3%
Middle market loans:
Principal forgiveness$6 .1 %
Reduction in the amortized cost basis of $4 million
Term extension46 1.1 
Term extension of 9 months on average
Other-than-insignificant
  payment delays		28 .7 
Delay in principal and interest payments of 36 months on average
Principal forgiveness and term
  extension		35 .8 
Reduction in the amortized cost basis of $40 million and term extension of 33 months on average
Principal forgiveness, term
extension and interest rate reduction
13 .3 
Reduction in the amortized cost basis of $5 million, term extension of 45 months on average and reduction in the weighted-average contractual interest rate from 10.5% to 9.5%
(1) Net of allowance for credit losses
Loan Performance After Modifications
The following tables present an aging of loans that received modifications in the 12 months preceding the periods presented, at amortized cost.
September 30, 2026
(In millions)Current Less Than
90 Days
Past Due		90 Days
or More
Past Due		Nonaccrual
Status
Transitional real estate loans$308 $46 $60 $322 
Middle market loans97 0 9 26 
Total$405 $46 $69 $348 
September 30, 2025
(In millions)Current Less Than
90 Days
Past Due		90 Days
or More
Past Due		Nonaccrual
Status
Transitional real estate loans$501 $0 $61 $61 
Middle market loans131 11 0 0 
Total$632 $11 $61 $61 
Allowance for Loan Losses by Portfolio Segment
The following table presents the roll forward of the allowance for credit losses by portfolio segment for loans and by accounting classification for securities.
(In millions)Transitional
Real Estate
Loans		Commercial
Mortgage
Loans		Middle
Market
Loans		Other Loans
and Loan
Commitments		Held-to-
Maturity
Securities		Available-
for-Sale
Securities		Total
Three Months Ended
  September 30, 2026:
Balance at June 30, 2026
$(315)$(6)$(209)$(17)$(4)$0 $(551)
(Addition to) release of allowance for credit losses(27)1 (66)(11)0 0 (103)
Writeoffs, net of recoveries1 0 17 0 0 0 18 
Change in foreign exchange0 0 0 0 0 0 0 
Balance at September 30, 2026
$(341)$(5)$(258)$(28)$(4)$0 $(636)
Three Months Ended
  September 30, 2025:
Balance at June 30, 2025
$(243)$(12)$(127)$(17)$(5)$0 $(404)
(Addition to) release of allowance for credit losses(28)2 (25)(2)0 0 (53)
Writeoffs, net of recoveries0 0 13 0 0 0 13 
Change in foreign exchange0 0 0 0 0 0 0 
Balance at September 30, 2025
$(271)$(10)$(139)$(19)$(5)$0 $(444)
Nine Months Ended
  September 30, 2026:
Balance at December 31, 2025
$(277)$(9)$(138)$(17)$(5)$0 $(446)
(Addition to) release of allowance for credit losses(73)4 (148)(11)1 0 (227)
Writeoffs, net of recoveries9 0 28 0 0 0 37 
Change in foreign exchange0 0 0 0 0 0 0 
Balance at September 30, 2026
$(341)$(5)$(258)$(28)$(4)$0 $(636)
Nine Months Ended
  September 30, 2025:
Balance at December 31, 2024
$(199)$(14)$(140)$(17)$(5)$0 $(375)
(Addition to) release of allowance for credit losses(101)4 (68)(2)0 0 (167)
Writeoffs, net of recoveries29 0 69 0 0 0 98 
Change in foreign exchange0 0 0 0 0 0 0 
Balance at September 30, 2025
$(271)$(10)$(139)$(19)$(5)$0 $(444)
Other Investments
The table below presents the composition of the carrying value for other investments as of the periods presented.
(In millions)September 30,
2026		December 31,
2025
Other investments:
Policy loans$210 $210 
Short-term investments (1)
2,549 1,373 
Limited partnerships (2)
4,448 4,109 
Real estate owned820 902 
Other26 28 
Total other investments$8,053 $6,622 
(1) Includes securities lending collateral
(2) Includes tax credit investments and asset classes such as private equity and real estate funds
Securities lending transactions  
Schedule of Investments [Line Items]  
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Details of the cash collateral the Company received under securities lending transactions, by loaned security type and remaining contractual maturity of the agreements, were as follows:
Securities Lending Transactions Accounted for as Secured Borrowings
Remaining Contractual Maturity of the Agreements
September 30, 2026December 31, 2025
(In millions)
Overnight
and
Continuous(1)
Up to 30
days		30-90 daysTotal
Overnight
and
Continuous(1)
Up to 30
days		30-90 daysTotal
Securities lending
  transactions:
Fixed maturity securities:
Japan government and agencies$0 $2,454 $2,935 $5,389 $0 $1,591 $1,329 $2,920 
Public utilities50 0 0 50 54 0 0 54 
Banks/financial institutions203 0 0 203 150 0 0 150 
Other corporate992 0 0 992 865 0 0 865 
          Total borrowings$1,245 $2,454 $2,935 $6,634 $1,069 $1,591 $1,329 $3,989 
Gross amount of recognized liabilities for securities
   lending transactions		$6,634 $3,989 
(1) The related loaned security, under the Company's U.S. securities lending program, can be returned to the Company at the transferee's discretion; therefore, they are classified as Overnight and Continuous.
Repurchase agreements  
Schedule of Investments [Line Items]  
Transfer of Certain Financial Assets Accounted for as Secured Borrowings
Details of the cash proceeds the Company received under repurchase agreements, by transferred security type and remaining contractual maturity of the agreements, were as follows:
Repurchase Agreements Accounted for as Secured Borrowings
Remaining Contractual Maturity of the Agreements
September 30, 2026
(In millions)Four to Five
Years		Total
Repurchase agreements:
Fixed maturity securities:
Japan government and agencies$240 $240 
          Total borrowings$240 $240 
Gross amount of recognized liabilities for
   repurchase agreements		$240 
Variable Interest Entity, Consolidated  
Schedule of Investments [Line Items]  
Investments in Variable Interest Entities
The following table presents the carrying value and balance sheet caption in which the assets and liabilities of consolidated VIEs are reported.

Investments in Consolidated Variable Interest Entities
(In millions)September 30,
2026		December 31,
2025
Assets: (1)
Fixed maturity securities available-for-sale$3,966 $3,636 
Commercial mortgage and other loans7,123 7,896 
Other investments (2)
2,348 2,320 
Other assets (3)
36 45 
Total assets of consolidated VIEs$13,473 $13,897 
Liabilities:
Other liabilities (3)
$743 $765 
Total liabilities of consolidated VIEs$743 $765 
(1) As of September 30, 2026, the Company's investments in consolidated VIEs also held cash and cash equivalents of $326 million, of which $65 million was restricted.
(2) Consists entirely of alternative investments in limited partnerships, which represent VIEs where the Company is not the primary beneficiary and therefore are not consolidated
(3) Consists entirely of derivatives
Variable Interest Entity, Not Consolidated  
Schedule of Investments [Line Items]  
Investments in Variable Interest Entities
The table below presents the carrying value and balance sheet caption in which the Company's investments in VIEs that are not consolidated are reported.
Investments in Variable Interest Entities Not Consolidated
(In millions)September 30,
2026		December 31,
2025
Assets:
Fixed maturity securities available-for-sale$8,011 $6,750 
Other investments (1)
1,938 1,603 
Total investments in VIEs not consolidated$9,949 $8,353 
(1) Consists entirely of alternative investments in limited partnerships
Transitional real estate loans  
Schedule of Investments [Line Items]  
Financing Receivable Credit Quality Indicators
The following tables present as of September 30, 2026 the amortized cost basis of TREs, CMLs, MMLs, and other loans by year of origination and key credit quality indicator.
Transitional Real Estate Loans
(In millions)20262025202420232022PriorTotal
Loan-to-Value Ratio:
0%-59.99%$0 $0 $0 $0 $139 $157 $296 
60%-69.99%0 0 0 0 324 249 573 
70%-79.99%7 0 0 14 506 428 955 
80% or greater65 0 0 0 323 948 1,336 
Total$72 $0 $0 $14 $1,292 $1,782 $3,160 
Current-period gross
  writeoffs:		$0 $0 $0 $0 $9 $0 $9 
Commercial mortgage loans  
Schedule of Investments [Line Items]  
Financing Receivable Credit Quality Indicators
Commercial Mortgage Loans
(In millions)20262025202420232022PriorTotalWeighted-Average DSCR
Loan-to-Value Ratio:
0%-59.99%$35 $11 $0 $31 $0 $1,009 $1,086 2.73
60%-69.99%13 20 0 0 0 38 71 1.58
70%-79.99%0 0 0 0 0 48 48 1.61
80% or greater0 0 12 0 0 60 72 1.21
Total$48 $31 $12 $31 $0 $1,155 $1,277 2.54
Weighted Average DSCR1.881.861.092.870.002.59
Current-period gross
  writeoffs:		$0 $0 $0 $0 $0 $0 $0 
Middle market loans  
Schedule of Investments [Line Items]  
Financing Receivable Credit Quality Indicators
Middle Market Loans
(In millions)20262025202420232022PriorRevolving LoansTotal
Credit Ratings:
BBB$80 $44 $66 $37 $0 $88 $8 $323 
BB367 325 485 93 290 650 46 2,256 
B119 289 121 30 196 586 47 1,388 
CCC0 35 17 0 46 279 25 402 
CC6 5 0 0 9 66 8 94 
C and lower0 0 2 0 0 53 7 62 
Total$572 $698 $691 $160 $541 $1,722 $141 $4,525 
Current-period gross
  writeoffs:		$0 $0 $0 $0 $0 $28 $0 $28 
Other loans  
Schedule of Investments [Line Items]  
Financing Receivable Credit Quality Indicators
Other Loans
(In millions)20262025202420232022PriorRevolving LoansTotal
Credit Ratings:
A$26 $0 $0 $0 $55 $0 $0 $81 
AA0 0 0 0 8 3 0 11 
BBB86 39 172 0 23 24 0 344 
BB0 0 0 66 0 0 0 66 
Total$112 $39 $172 $66 $86 $27 $0 $502 
Current-period gross
  writeoffs:		$0 $0 $0 $0 $0 $0 $0 $0