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Offsetting Assets and Liabilities (Tables)

9 Months Ended

Sep. 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:


	September 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	$	12,491	$	—	$	12,491	$	(7,965)	$	(1,772)	$	(2,692)	$	62
OTC cleared	10		—		10		(10)		—		—		—
Exchange-traded	213		—		213		(51)		—		—		162
Total derivatives	12,714		—		12,714		(8,026)		(1,772)		(2,692)		224
Securities borrowed	279		—		279		(92)		(183)		—		4
Total	$	12,993	$	—	$	12,993	$	(8,118)	$	(1,955)	$	(2,692)	$	228


	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:


	September 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	$	8,078	$	—	$	8,078	$	(7,965)	$	(1)	$	(110)	$	2
OTC cleared	23		—		23		(10)		—		—		13
Exchange-traded	53		—		53		(51)		—		—		2
Total derivatives	8,154		—		8,154		(8,026)		(1)		(110)		17
Securities loaned	327		—		327		(92)		—		(229)		6
Total	$	8,481	$	—	$	8,481	$	(8,118)	$	(1)	$	(339)	$	23


	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.