As of September 30, 2026 and December 31, 2025, the total unearned revenue liabilities (“URL”) balance of $674 million and $551 million, respectively, is included in Accounts payable and accrued liabilities on the unaudited Condensed Consolidated Balance Sheets. The following table presents a reconciliation of Accounts payable and accrued liabilities to the unaudited Condensed Consolidated Balance Sheets as of September 30, 2026 and December 31, 2025 (in millions):


	September 30, 2026		December 31, 2025
Salaries and incentives	$	93	$	106
Accrued benefits	84		75
URL	674		551
Trade accounts payable	146		199
Liability for policy and contract claims	100		100
Retained asset account	41		48
Remittances and items not allocated	291		267
Option collateral liabilities	586		928
Lease liability	10		12
Investment purchases payable	379		102
Contingent consideration	63		72
Accrued interest on notes payable	42		34
Interest rate and foreign currency swaps	298		12
Other accrued liabilities	252		195
Accounts payable and accrued liabilities	$	3,059	$	2,701

The following table rolls forward URL for our universal life product for the nine months ended September 30, 2026 and 2025 (in millions):


	Nine months ended September 30,
	2026		2025
Balance at January 1,	$	551	$	401
Capitalization	151		131
Amortization	(28)		(20)
Balance at September 30,	$	674	$	512

For IUL the cash flow assumptions used to amortize URL reflect the Company’s best estimates for policyholder behavior. We review cash flow assumptions annually, generally in the third quarter. In 2026, F&G undertook a review of all significant assumptions which resulted in no significant assumption updates. In 2025, F&G undertook a review of all significant assumptions, resulting in updates for surrenders, lapses, and mortality.