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CONDENSED CONSOLIDATED STATEMENTS OF EQUITY - USD ($)
$ in Millions
Total
F&G
Common Stock
Additional Paid-in Capital
Additional Paid-in Capital
F&G
Retained Earnings
Accumulated Other Comprehensive Earnings (Loss)
Treasury Stock
Non-controlling Interests
Non-controlling Interests
F&G
Beginning balance (in shares) at Dec. 31, 2021     325,000,000              
Beginning balance, Treasury stock (in shares) at Dec. 31, 2021               42,000,000    
Beginning balance at Dec. 31, 2021 $ 10,006   $ 0 $ 5,811   $ 4,818 $ 879 $ (1,545) $ 43  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Exercise of stock options (in shares)     1,000,000              
Exercise of stock options 8     8            
Treasury stock repurchased (in shares)               7,000,000    
Treasury stock repurchased (306)             $ (306)    
Other comprehensive loss - unrealized loss on investments and other financial instruments (3,809)           (3,809)      
Other comprehensive earnings - unrealized gain (loss) on investments in unconsolidated affiliates 7 [1]           7      
Other comprehensive loss - unrealized loss on foreign currency translation (11) [2]           (11)      
Reclassification adjustments for change in unrealized gains and losses included in net earnings 53 [3]           53      
Changes in current discount rate - future policy benefits 602 [4]           602      
Change in instrument-specific credit risk - market risk benefits 83 [5]           83      
Other comprehensive income associated with noncontrolling interests [6] 0                  
Stock-based compensation 24     24         0  
Dividends declared, per common share (246)         (246)        
Subsidiary dividends declared to non-controlling interests (8)               (8)  
Net earnings 945         937     8  
Ending balance (in shares) at Jun. 30, 2022     326,000,000              
Ending balance, Treasury stock (in shares) at Jun. 30, 2022               49,000,000    
Ending balance at Jun. 30, 2022 7,348   $ 0 5,843   5,509 (2,196) $ (1,851) 43  
Beginning balance (in shares) at Mar. 31, 2022     326,000,000              
Beginning balance, Treasury stock (in shares) at Mar. 31, 2022               45,000,000    
Beginning balance at Mar. 31, 2022 8,612   $ 0 5,826   5,094 (670) $ (1,679) 41  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Exercise of stock options (in shares)     0              
Exercise of stock options 5     5            
Treasury stock repurchased (in shares)               4,000,000    
Treasury stock repurchased (172)             $ (172)    
Other comprehensive loss - unrealized loss on investments and other financial instruments (1,905)           (1,905)      
Other comprehensive earnings - unrealized gain (loss) on investments in unconsolidated affiliates 1 [1]           1      
Other comprehensive loss - unrealized loss on foreign currency translation (9) [2]           (9)      
Reclassification adjustments for change in unrealized gains and losses included in net earnings 27 [3]           27      
Changes in current discount rate - future policy benefits 310 [4]           310      
Change in instrument-specific credit risk - market risk benefits 50 [5]           50      
Other comprehensive income associated with noncontrolling interests [6] 0                  
Stock-based compensation 12     12         0  
Dividends declared, per common share (122)         (122)        
Subsidiary dividends declared to non-controlling interests (4)               (4)  
Net earnings 543         537     6  
Ending balance (in shares) at Jun. 30, 2022     326,000,000              
Ending balance, Treasury stock (in shares) at Jun. 30, 2022               49,000,000    
Ending balance at Jun. 30, 2022 $ 7,348   $ 0 5,843   5,509 (2,196) $ (1,851) 43  
Beginning balance (in shares) at Dec. 31, 2022     328,000,000              
Beginning balance, Treasury stock (in shares) at Dec. 31, 2022 55,447,459             55,000,000    
Beginning balance at Dec. 31, 2022 $ 6,569   $ 0 5,870   5,225 (2,870) $ (2,109) 453  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Treasury stock repurchased (4) $ (16)     $ (1)     $ (4)   $ (15)
Other comprehensive loss - unrealized loss on investments and other financial instruments 172           172      
Other comprehensive earnings - unrealized gain (loss) on investments in unconsolidated affiliates 6 [1]           6      
Other comprehensive loss - unrealized loss on foreign currency translation 6 [2]           6      
Reclassification adjustments for change in unrealized gains and losses included in net earnings 78 [3]           78      
Changes in current discount rate - future policy benefits (43) [4]           (43)      
Change in instrument-specific credit risk - market risk benefits 3 [5]           3      
Other comprehensive income associated with noncontrolling interests (33) [6]     (1)     (33)   34  
Stock-based compensation 28     27         1  
Purchase of incremental share in consolidated subsidiaries (20)     (12)         (8)  
Dividends declared, per common share (245)         (245)        
Subsidiary dividends declared to non-controlling interests (12)               (12)  
Net earnings $ 155         160     (5)  
Ending balance (in shares) at Jun. 30, 2023     328,000,000              
Ending balance, Treasury stock (in shares) at Jun. 30, 2023 55,553,182             55,000,000    
Ending balance at Jun. 30, 2023 $ 6,677   $ 0 5,883   5,140 (2,681) $ (2,113) 448  
Beginning balance (in shares) at Mar. 31, 2023     328,000,000              
Beginning balance, Treasury stock (in shares) at Mar. 31, 2023               55,000,000    
Beginning balance at Mar. 31, 2023 6,648   $ 0 5,871   5,044 (2,610) $ (2,113) 456  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Other comprehensive loss - unrealized loss on investments and other financial instruments (175)           (175)      
Other comprehensive earnings - unrealized gain (loss) on investments in unconsolidated affiliates (5) [1]           (5)      
Other comprehensive loss - unrealized loss on foreign currency translation 4 [2]           4      
Reclassification adjustments for change in unrealized gains and losses included in net earnings 42 [3]           42      
Changes in current discount rate - future policy benefits 57 [4]           57      
Change in instrument-specific credit risk - market risk benefits (4) [5]           (4)      
Other comprehensive income associated with noncontrolling interests 10 [6]     (1)     10   (9)  
Stock-based compensation 14     14            
Purchase of incremental share in consolidated subsidiaries   $ 16     $ 1         $ 15
Dividends declared, per common share (123)         (123)        
Subsidiary dividends declared to non-controlling interests (8)               (8)  
Net earnings $ 243         219     24  
Ending balance (in shares) at Jun. 30, 2023     328,000,000              
Ending balance, Treasury stock (in shares) at Jun. 30, 2023 55,553,182             55,000,000    
Ending balance at Jun. 30, 2023 $ 6,677   $ 0 $ 5,883   $ 5,140 $ (2,681) $ (2,113) $ 448  
[1] Net of income tax (benefit) expense of $(1) million and for the three months ended June 30, 2023 and $2 million for the six months ended June 30, 2023 and 2022.
[2] Net of income tax expense (benefit) of less than $1 million and $(3) million for the three months ended June 30, 2023 and 2022, respectively, and $1 million and $(3) million for the six months ended June 30, 2023 and 2022, respectively.
[3] Net of income tax expense of $11 million and $7 million for the three months ended June 30, 2023 and 2022, respectively, and $21 million and $14 million for the six months ended June 30, 2023 and 2022, respectively.
(5)Net of income tax expense (benefit) of $15 million and $82 million for the three months ended June 30, 2023 and 2022, respectively, and $(12) million and $160 million for the six months ended June 30, 2023 and 2022, respectively.
(6)Net of income tax (benefit) expense of $(1) million and $13 million for the three months ended June 30, 2023 and 2022, respectively, and $1 million and $22 million for the six months ended June 30, 2023 and 2022, respectively.
(7)Net of income tax expense (benefit) of $3 million and $(9) million for the three and six months ended June 30, 2023, respectively.
[4] Net of income tax expense (benefit) of $15 million and $82 million for the three months ended June 30, 2023 and 2022, respectively, and $(12) million and $160 million for the six months ended June 30, 2023 and 2022, respectively.
[5] Net of income tax (benefit) expense of $(1) million and $13 million for the three months ended June 30, 2023 and 2022, respectively, and $1 million and $22 million for the six months ended June 30, 2023 and 2022, respectively.
[6] Net of income tax expense (benefit) of $3 million and $(9) million for the three and six months ended June 30, 2023, respectively.