Offsetting Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2024

Schedule of gross and net information about assets subject to master netting arrangements

The following tables present the gross and net information about the Company’s assets subject to master netting arrangements:


	September 30, 2024
	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Consolidated Balance Sheets		Amounts of Assets Presented in the Consolidated Balance Sheets		Gross Amounts Not Offset in the Consolidated Balance Sheets						Net Amount
							Financial Instruments (1)		Cash Collateral		Securities Collateral
	(in millions)
Derivatives:
OTC	$	8,348	$	—	$	8,348	$	(5,537)	$	(1,271)	$	(1,483)	$	57
OTC cleared	38		—		38		(38)		—		—		—
Exchange-traded	122		—		122		(26)		—		—		96
Total derivatives	8,508		—		8,508		(5,601)		(1,271)		(1,483)		153
Securities borrowed	236		—		236		(53)		—		(179)		4
Total	$	8,744	$	—	$	8,744	$	(5,654)	$	(1,271)	$	(1,662)	$	157


	December 31, 2023
	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Consolidated Balance Sheets		Amounts of Assets Presented in the Consolidated Balance Sheets		Gross Amounts Not Offset in the Consolidated Balance Sheets						Net Amount
							Financial Instruments (1)		Cash Collateral		Securities Collateral
	(in millions)
Derivatives:
OTC	$	5,197	$	—	$	5,197	$	(3,707)	$	(1,114)	$	(357)	$	19
OTC cleared	9		—		9		(9)		—		—		—
Exchange-traded	39		—		39		(18)		—		—		21
Total derivatives	5,245		—		5,245		(3,734)		(1,114)		(357)		40
Securities borrowed	146		—		146		(32)		—		(111)		3
Total	$	5,391	$	—	$	5,391	$	(3,766)	$	(1,114)	$	(468)	$	43

(1) Represents the amount of assets that could be offset by liabilities with the same counterparty under master netting or similar arrangements that management elects not to offset on the Consolidated Balance Sheets.

Schedule of gross and net information about liabilities subject to master netting arrangements

The following tables present the gross and net information about the Company’s liabilities subject to master netting arrangements:


	September 30, 2024
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Consolidated Balance Sheets		Amounts of Liabilities Presented in the Consolidated Balance Sheets		Gross Amounts Not Offset in the Consolidated Balance Sheets						Net Amount
							Financial Instruments (1)		Cash Collateral		Securities Collateral
	(in millions)
Derivatives:
OTC	$	5,658	$	—	$	5,658	$	(5,537)	$	—	$	(119)	$	2
OTC cleared	74		—		74		(38)		—		—		36
Exchange-traded	26		—		26		(26)		—		—		—
Total derivatives	5,758		—		5,758		(5,601)		—		(119)		38
Securities loaned	254		—		254		(53)		—		(194)		7
Total	$	6,012	$	—	$	6,012	$	(5,654)	$	—	$	(313)	$	45


	December 31, 2023
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Consolidated Balance Sheets		Amounts of Liabilities Presented in the Consolidated Balance Sheets		Gross Amounts Not Offset in the Consolidated Balance Sheets						Net Amount
							Financial Instruments (1)		Cash Collateral		Securities Collateral
	(in millions)
Derivatives:
OTC	$	3,829	$	—	$	3,829	$	(3,707)	$	(36)	$	(78)	$	8
OTC cleared	35		—		35		(9)		—		—		26
Exchange-traded	19		—		19		(18)		—		—		1
Total derivatives	3,883		—		3,883		(3,734)		(36)		(78)		35
Securities loaned	163		—		163		(32)		—		(126)		5
Total	$	4,046	$	—	$	4,046	$	(3,766)	$	(36)	$	(204)	$	40

(1) Represents the amount of liabilities that could be offset by assets with the same counterparty under master netting or similar arrangements that management elects not to offset on the Consolidated Balance Sheets.