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Offsetting Assets and Liabilities (Tables)

6 Months Ended

Jun. 30, 2025

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:


	June 30, 2025
	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	$	10,197	$	—	$	10,197	$	(6,678)	$	(1,386)	$	(2,085)	$	48
OTC cleared	72		—		72		(24)		—		—		48
Exchange-traded	200		—		200		(48)		—		—		152
Total derivatives	10,469		—		10,469		(6,750)		(1,386)		(2,085)		248
Securities borrowed	206		—		206		(65)		—		(138)		3
Total	$	10,675	$	—	$	10,675	$	(6,815)	$	(1,386)	$	(2,223)	$	251


	December 31, 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	$	9,126	$	—	$	9,126	$	(5,566)	$	(1,554)	$	(1,970)	$	36
OTC cleared	10		—		10		(10)		—		—		—
Exchange-traded	103		—		103		(18)		—		—		85
Total derivatives	9,239		—		9,239		(5,594)		(1,554)		(1,970)		121
Securities borrowed	218		—		218		(71)		—		(142)		5
Total	$	9,457	$	—	$	9,457	$	(5,665)	$	(1,554)	$	(2,112)	$	126

(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:


	June 30, 2025
	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	$	6,772	$	—	$	6,772	$	(6,678)	$	—	$	(94)	$	—
OTC cleared	24		—		24		(24)		—		—		—
Exchange-traded	51		—		51		(48)		—		—		3
Total derivatives	6,847		—		6,847		(6,750)		—		(94)		3
Securities loaned	254		—		254		(65)		—		(184)		5
Total	$	7,101	$	—	$	7,101	$	(6,815)	$	—	$	(278)	$	8


	December 31, 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	$	5,662	$	—	$	5,662	$	(5,566)	$	(15)	$	(68)	$	13
OTC cleared	18		—		18		(10)		—		—		8
Exchange-traded	23		—		23		(18)		—		—		5
Total derivatives	5,703		—		5,703		(5,594)		(15)		(68)		26
Securities loaned	273		—		273		(71)		—		(195)		7
Total	$	5,976	$	—	$	5,976	$	(5,665)	$	(15)	$	(263)	$	33

(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.