XML 53 R43.htm IDEA: XBRL DOCUMENT
v3.24.3

Shareholders' Equity (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2024
Stockholders' Equity Note [Abstract] |
Schedule of amounts related to each component of OCI | The following table presents the amounts related to each component of OCI:
| Three Months Ended September 30,
| 2024 |  | 2023
| Pretax |  | Income Tax Benefit (Expense) |  | Net of Tax |  | Pretax |  | Income Tax Benefit (Expense) |  | Net of Tax
| (in millions)
Net unrealized gains (losses) on securities: |  |  |  |  |  |  |  |  |  |  |
Net unrealized gains (losses) on securities arising during the period (1) | $ | 1,312 |  |  | $ | (293) |  |  | $ | 1,019 |  |  | $ | (854) |  |  | $ | 190 |  |  | $ | (664) |
Reclassification of net (gains) losses on securities included in net income (2) | 2 |  |  | (2) |  |  | — |  |  | 38 |  |  | (8) |  |  | 30 |
Impact of benefit reserves and reinsurance recoverables | (18) |  |  | 4 |  |  | (14) |  |  | 14 |  |  | (3) |  |  | 11 |
Net unrealized gains (losses) on securities | 1,296 |  |  | (291) |  |  | 1,005 |  |  | (802) |  |  | 179 |  |  | (623) |
Net unrealized gains (losses) on derivatives: |  |  |  |  |  |  |  |  |  |  |
Reclassification of net (gains) losses on derivatives included in net income (3) | (1) |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | — |
Net unrealized gains (losses) on derivatives | (1) |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | — |
Effect of changes in discount rate assumptions on certain long-duration contracts | (188) |  |  | 41 |  |  | (147) |  |  | 221 |  |  | (47) |  |  | 174 |
Effect of changes in instrument-specific credit risk on MRBs | (63) |  |  | 14 |  |  | (49) |  |  | 23 |  |  | (5) |  |  | 18 |
Foreign currency translation | 85 |  |  | (2) |  |  | 83 |  |  | (76) |  |  | 16 |  |  | (60) |
Total other comprehensive income (loss) | $ | 1,129 |  |  | $ | (237) |  |  | $ | 892 |  |  | $ | (634) |  |  | $ | 143 |  |  | $ | (491) |
| Nine Months Ended September 30,
| 2024 |  | 2023
| Pretax |  | Income Tax Benefit (Expense) |  | Net of Tax |  | Pretax |  | Income Tax Benefit (Expense) |  | Net of Tax
| (in millions)
Net unrealized gains (losses) on securities: |  |  |  |  |  |  |  |  |  |  |
Net unrealized gains (losses) on securities arising during the period (1) | $ | 896 |  |  | $ | (203) |  |  | $ | 693 |  |  | $ | (727) |  |  | $ | 167 |  |  | $ | (560) |
Reclassification of net (gains) losses on securities included in net income (2) | 4 |  |  | (2) |  |  | 2 |  |  | 29 |  |  | (6) |  |  | 23 |
Impact of benefit reserves and reinsurance recoverables | (4) |  |  | 1 |  |  | (3) |  |  | 8 |  |  | (2) |  |  | 6 |
Net unrealized gains (losses) on securities | 896 |  |  | (204) |  |  | 692 |  |  | (690) |  |  | 159 |  |  | (531) |
Net unrealized gains (losses) on derivatives: |  |  |  |  |  |  |  |  |  |  |
Net unrealized gains (losses) on derivatives arising during the period | — |  |  | — |  |  | — |  |  | 3 |  |  | (1) |  |  | 2 |
Reclassification of net (gains) losses on derivatives included in net income(3) | (1) |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | — |
Net unrealized gains (losses) on derivatives | (1) |  |  | 1 |  |  | — |  |  | 3 |  |  | (1) |  |  | 2 |
Effect of changes in discount rate assumptions on certain long-duration contracts | (21) |  |  | 5 |  |  | (16) |  |  | 213 |  |  | (45) |  |  | 168 |
Effect of changes in instrument-specific credit risk on MRBs | (98) |  |  | 21 |  |  | (77) |  |  | 68 |  |  | (15) |  |  | 53 |
Foreign currency translation | 69 |  |  | (3) |  |  | 66 |  |  | 18 |  |  | (4) |  |  | 14 |
Total other comprehensive income (loss) | $ | 845 |  |  | $ | (180) |  |  | $ | 665 |  |  | $ | (388) |  |  | $ | 94 |  |  | $ | (294) |
(1) Includes impairments on Available-for-Sale securities related to factors other than credit that were recognized in OCI during the period. (2) Reclassification amounts are recorded in Net investment income. (3) Includes a $1 million and nil pretax gain reclassified to Interest and debt expense.
Schedule of changes in the balances of each component of AOCI | The following table presents the changes in the balances of each component of AOCI, net of tax:
| Net Unrealized Gains (Losses) on Securities |  | Net Unrealized Gains (Losses) on Derivatives |  | Effect of Changes in Discount Rate Assumptions on Certain Long-Duration Contracts |  | Effect of Changes in Instrument-Specific Credit Risk on MRBs |  | Defined Benefit Plans |  | Foreign Currency Translation |  | Other |  | Total
| (in millions)
Balance at July 1, 2024 | $ | (1,554) |  | $ | 5 |  | $ | 5 |  | $ | (113) |  | $ | (60) |  | $ | (275) |  | $ | (1) |  | $ | (1,993)
OCI before reclassifications | 1,005 |  | — |  | (147) |  | (49) |  | — |  | 83 |  | — |  | 892
Amounts reclassified from AOCI | — |  | — |  | — |  | — |  | — |  | — |  | — |  | —
Total OCI | 1,005 |  | — |  | (147) |  | (49) |  | — |  | 83 |  | — |  | 892
Balance at September 30, 2024 | $ | (549) |  | $ | 5 |  | $ | (142) |  | $ | (162) |  | $ | (60) |  | $ | (192) |  | $ | (1) |  | $ | (1,101)
Balance at July 1, 2023 | $ | (1,951) |  | $ | 5 |  | $ | (78) |  | $ | 15 |  | $ | (75) |  | $ | (264) |  | $ | (1) |  | $ | (2,349)
OCI before reclassifications | (653) |  | — |  | 174 |  | 18 |  | — |  | (60) |  | — |  | (521)
Amounts reclassified from AOCI | 30 |  | — |  | — |  | — |  | — |  | — |  | — |  | 30
Total OCI | (623) |  | — |  | 174 |  | 18 |  | — |  | (60) |  | — |  | (491)
Balance at September 30, 2023 | $ | (2,574) |  | $ | 5 |  | $ | 96 |  | $ | 33 |  | $ | (75) |  | $ | (324) |  | $ | (1) |  | $ | (2,840)
Balance at January 1, 2024 | $ | (1,241) |  | $ | 5 |  | $ | (126) |  | $ | (85) |  | $ | (60) |  | $ | (258) |  | $ | (1) |  | $ | (1,766)
OCI before reclassifications | 690 |  | — |  | (16) |  | (77) |  | — |  | 66 |  | — |  | 663
Amounts reclassified from AOCI | 2 |  | — |  | — |  | — |  | — |  | — |  | — |  | 2
Total OCI | 692 |  | — |  | (16) |  | (77) |  | — |  | 66 |  | — |  | 665
Balance at September 30, 2024 | $ | (549) |  | $ | 5 |  | $ | (142) |  | $ | (162) |  | $ | (60) |  | $ | (192) |  | $ | (1) |  | $ | (1,101)
Balance at January 1, 2023 | $ | (2,043) |  | $ | 3 |  | $ | (72) |  | $ | (20) |  | $ | (75) |  | $ | (338) |  | $ | (1) |  | $ | (2,546)
OCI before reclassifications | (554) |  | 2 |  | 168 |  | 53 |  | — |  | 14 |  | — |  | (317)
Amounts reclassified from AOCI | 23 |  | — |  | — |  | — |  | — |  | — |  | — |  | 23
Total OCI | (531) |  | 2 |  | 168 |  | 53 |  | — |  | 14 |  | — |  | (294)
Balance at September 30, 2023 | $ | (2,574) |  | $ | 5 |  | $ | 96 |  | $ | 33 |  | $ | (75) |  | $ | (324) |  | $ | (1) |  | $ | (2,840)

X
- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482790/220-10-45-14A Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481674/830-30-50-1 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 20 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481694/830-30-45-20 + Details
Name: | us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of components of comprehensive income (loss). Includes, but is not limited to, foreign currency translation adjustments, foreign currency transactions designated as economic hedges of a net investment in foreign entity, gain (loss) and prior service cost (credit) for pension plans and other postretirement benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 1 -Section 45 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482790/220-10-45-1 + Details
Name: | us-gaap_ScheduleOfComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_StockholdersEquityNoteAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration