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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 at Dec. 31, 2020 $ 8,493   $ 0 $ 5,720   $ 2,468 $ 1,331 $ (1,067) $ 41  
Beginning balance (in shares) at Dec. 31, 2020     322,000,000              
Beginning balance, Treasury stock (in shares) at Dec. 31, 2020               31,000,000    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Exercise of stock options (in shares)     2,000,000              
Exercise of stock options 48     48            
Treasury stock repurchased (461)             $ (461)    
Treasury stock repurchased (in shares)               10,000,000    
Issuance of restricted stock (in shares)     1,000,000              
Purchase of incremental share in consolidated subsidiaries/F&G purchase of F&G stock 1     0         1  
Other comprehensive earnings - unrealized gain (loss) on investments and other financial instruments (499)           (499)      
Unrealized gain on investments in unconsolidated affiliates 23 [1]           23      
Other comprehensive earnings - unrealized gain (loss) on foreign currency translation (6) [2]           (6)      
Other comprehensive earnings - minimum pension liability adjustment (7)           (7)      
Reclassification adjustments for change in unrealized gains and losses included in net earnings (101) [3]           (101)      
Stock-based compensation 42     42            
Dividends declared (447)         (447)        
Shares withheld for taxes and in treasury (17)             $ (17)    
Change in reinsurance liabilities held at fair value resulting from a change in the instrument-specific credit risk 3           3      
Other comprehensive earnings attributable to non-controlling interest 0                  
Changes in current discount rate - future policy benefit 124 [4]           124      
Changes in instrument-specific credit risk - market risk benefits 10 [5]           10      
Subsidiary dividends declared to non-controlling interests (19)               (19)  
Net earnings 2,817         2,797     20  
Ending balance (in shares) at Dec. 31, 2021     325,000,000              
Ending balance at Dec. 31, 2021 10,004   $ 0 5,810   4,818 878 $ (1,545) 43  
Ending balance, Treasury stock (in shares) at Dec. 31, 2021               42,000,000    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Exercise of stock options (in shares)     2,000,000              
Exercise of stock options 39     39            
Non-controlling interest associated with current period acquisitions 46               46  
Treasury stock repurchased (549)             $ (549)    
Treasury stock repurchased (in shares)               13,000,000    
Issuance of restricted stock (in shares)     1,000,000              
Purchase of incremental share in consolidated subsidiaries/F&G purchase of F&G stock (14)     (3)         (11)  
Other comprehensive earnings - unrealized gain (loss) on investments and other financial instruments (4,783)           (4,783)      
Unrealized gain on investments in unconsolidated affiliates 9 [1]           9      
Other comprehensive earnings - unrealized gain (loss) on foreign currency translation (18) [2]           (18)      
Other comprehensive earnings - minimum pension liability adjustment 5           5      
Reclassification adjustments for change in unrealized gains and losses included in net earnings 173 [3]           173      
Stock-based compensation 49     48         1  
Dividends declared (490)         (490)        
Shares withheld for taxes and in treasury (15)             $ (15)    
Shares withheld for taxes and in treasury (in shares)               0    
Change in reinsurance liabilities held at fair value resulting from a change in the instrument-specific credit risk 0                  
Other comprehensive earnings attributable to non-controlling interest (9)           35   (35)  
Changes in current discount rate - future policy benefit 764 [4]           764      
Changes in instrument-specific credit risk - market risk benefits 67 [5]           67      
Distribution of 15% of the common stock of F&G       (24)   (397)     421  
Subsidiary dividends declared to non-controlling interests (24)               (24)  
Net earnings 1,306         1,294     12  
Ending balance (in shares) at Dec. 31, 2022     328,000,000              
Ending balance at Dec. 31, 2022 $ 6,569   $ 0 5,870   5,225 (2,870) $ (2,109) 453  
Ending balance, Treasury stock (in shares) at Dec. 31, 2022 55,447,459             55,000,000    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Exercise of stock options (in shares)     0              
Exercise of stock options $ 15     15            
Treasury stock repurchased (4)             $ (4)    
Treasury stock repurchased (in shares)               0    
Issuance of restricted stock (in shares)     1,000,000              
Purchase of incremental share in consolidated subsidiaries/F&G purchase of F&G stock (19) $ (19)   (11) $ (1)       (8) $ (18)
Other comprehensive earnings - unrealized gain (loss) on investments and other financial instruments 961           961      
Unrealized gain on investments in unconsolidated affiliates 12 [1]           12      
Other comprehensive earnings - unrealized gain (loss) on foreign currency translation 6 [2]           6      
Other comprehensive earnings - minimum pension liability adjustment 3           3      
Reclassification adjustments for change in unrealized gains and losses included in net earnings 126 [3]           126      
Stock-based compensation 59     55         4  
Dividends declared (498)         (498)        
Shares withheld for taxes and in treasury (17)             $ (17)    
Shares withheld for taxes and in treasury (in shares)               1,000,000    
Change in reinsurance liabilities held at fair value resulting from a change in the instrument-specific credit risk 0                  
Other comprehensive earnings attributable to non-controlling interest 35       $ (15)   (134)   149  
Changes in current discount rate - future policy benefit (189) [4]           (189)      
Changes in instrument-specific credit risk - market risk benefits (34) [5]           (34)      
Subsidiary dividends declared to non-controlling interests (29)               (29)  
Net earnings 518         517     1  
Ending balance (in shares) at Dec. 31, 2023     329,000,000              
Ending balance at Dec. 31, 2023 $ 7,460   $ 0 $ 5,913   $ 5,244 $ (2,119) $ (2,130) $ 552  
Ending balance, Treasury stock (in shares) at Dec. 31, 2023 55,934,467             56,000,000    
[1] Net of income tax expense of $3 million, $3 million, and $7 million for the years ended December 31, 2023, 2022, and 2021, respectively.
[2] Net of income tax expense (benefit) of $2 million and $(4) million, for the years ended December 31, 2023 and 2022, respectively.
[3] Net of income tax expense (benefit) of $34 million, $45 million and $(26) million for the years ended December 31, 2023, 2021 and 2021, respectively.
[4] Net of income tax (benefit) expense of $(50) million, $203 million and $33 million for the years ended December 31, 2023, 2021 and 2021, respectively
[5] Net of income tax (benefit) expense of $(9) million, $18 million and $3 million for the years ended December 31, 2023, 2021 and 2021, respectively.