XML 12 R2.htm IDEA: XBRL DOCUMENT v3.24.3
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues        
Net investment income $ 934 $ 809 $ 2,756 $ 2,318
Premiums, policy and contract charges 409 390 1,180 1,135
Other revenues 131 127 389 390
Total revenues 4,560 4,076 13,277 11,928
Banking and deposit interest expense 163 151 514 385
Total net revenues 4,397 3,925 12,763 11,543
Benefits and expenses        
Distribution expenses 1,539 1,297 4,408 3,771
Interest credited to fixed accounts 118 139 435 464
Benefits, claims, losses and settlement expenses 430 120 1,056 748
Remeasurement (gains) losses of future policy benefit reserves (22) (12) (34) (17)
Change in fair value of market risk benefits 566 168 658 558
Amortization of deferred acquisition costs 59 62 181 185
Interest and debt expense 87 84 252 240
General and administrative expense 975 950 2,892 2,854
Total benefits and expenses 3,752 2,808 9,848 8,803
Pretax income 645 1,117 2,915 2,740
Income tax provision 134 245 585 561
Net income $ 511 $ 872 $ 2,330 $ 2,179
Earnings per share        
Basic (in dollars per share) $ 5.09 $ 8.31 $ 22.93 $ 20.48
Diluted (in dollars per share) $ 5.00 $ 8.14 $ 22.53 $ 20.08
Management and financial advice fees        
Revenues        
Revenue from contracts with customers $ 2,573 $ 2,287 $ 7,428 $ 6,623
Distribution fees        
Revenues        
Revenue from contracts with customers $ 513 $ 463 $ 1,524 $ 1,462