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CONDENSED CONSOLIDATED STATEMENTS OF EQUITY - USD ($)
$ in Millions
Total
Common Stock
Additional Paid-in Capital
Retained Earnings
Accumulated Other Comprehensive Earnings (Loss)
Treasury Stock
Non-controlling Interests
Beginning balance (in shares) at Dec. 31, 2022   328,000,000          
Beginning balance, Treasury stock (in shares) at Dec. 31, 2022           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)         $ (4)  
Purchase of incremental share in consolidated subsidiaries (20)   (12)       (8)
Other comprehensive loss - unrealized loss on investments and other financial instruments 349       349    
Other comprehensive earnings — unrealized gain on investments in unconsolidated affiliates 11 [1]       11    
Other comprehensive loss - unrealized loss on foreign currency translation 1 [2]       1    
Reclassification adjustments for change in unrealized gains and losses included in net earnings 35 [3]       35    
Change in instrument-specific credit risk - market risk benefits 7 [4]       7    
Change in current discount rate — liability for future policy benefits (100) [5]       (100)    
Other comprehensive income (loss) associated with noncontrolling interests (43) [6]       (43)   43
Stock-based compensation 13   13        
Dividends declared, per common share (122)     (122)      
Subsidiary dividends declared to non-controlling interests (3)           (3)
Net earnings (loss) (88)     (59)     (29)
Ending balance (in shares) at Mar. 31, 2023   328,000,000          
Ending balance, Treasury stock (in shares) at Mar. 31, 2023           55,000,000  
Ending balance at Mar. 31, 2023 $ 6,648 $ 0 5,871 5,044 (2,610) $ (2,113) 456
Beginning balance (in shares) at Dec. 31, 2023   329,000,000          
Beginning balance, Treasury stock (in shares) at Dec. 31, 2023 55,934,467         56,000,000  
Beginning balance at Dec. 31, 2023 $ 7,460 $ 0 5,913 5,244 (2,119) $ (2,130) 552
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
NCI associated with current period acquisitions 136           136
Purchase of incremental share in consolidated subsidiaries (7)   (4)       (3)
Exercise of stock options 1   1        
Other comprehensive loss - unrealized loss on investments and other financial instruments (5)       (5)    
Other comprehensive earnings — unrealized gain on investments in unconsolidated affiliates 13 [1]       13    
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 13 [3]       13    
Change in instrument-specific credit risk - market risk benefits 1 [4]       1    
Change in current discount rate — liability for future policy benefits 91 [5]       91    
Other comprehensive income (loss) associated with noncontrolling interests (17) [6]   (1)   (17)   18
Stock-based compensation 16   15       1
Shares withheld for taxes and in treasury (7)         $ (1) (6)
Dividends declared, per common share (131)     (131)      
Subsidiary dividends declared to non-controlling interests (7)           (7)
Net earnings (loss) $ 269     248     21
Ending balance (in shares) at Mar. 31, 2024   329,000,000          
Ending balance, Treasury stock (in shares) at Mar. 31, 2024 55,968,232         56,000,000  
Ending balance at Mar. 31, 2024 $ 7,837 $ 0 $ 5,924 $ 5,361 $ (2,029) $ (2,131) $ 712
[1] Net of income tax expense of $4 million and $3 million for the three months ended March 31, 2024 and 2023, respectively.
[2] Net of income tax (benefit) expense of $(1) million and less than $1 million for the three months ended March 31, 2024 and 2023, respectively.
[3] Net of income tax expense of $4 million and $9 million for the three months ended March 31, 2024 and 2023, respectively.
[4] Net of income tax expense of less than $1 million and $2 million for the three months ended March 31, 2024 and 2023, respectively.
[5] Net of income tax expense (benefit) of $24 million and $(27) million for the three months ended March 31, 2024 and 2023, respectively.
[6] Net of income tax benefit of $5 million and $11 million for the three months ended March 31, 2024 and 2023, respectively.