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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

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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
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-Name Accounting Standards Codification
-Paragraph 1
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