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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, 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]                    
Other comprehensive (loss) earnings- unrealized (loss) gain on investments and other financial instruments 172           172      
F&G purchase of FG stock/Purchase of incremental share in consolidated subsidiaries (20)     (12)         (8)  
Treasury stock repurchased (4) $ (16)     $ (1)     $ (4)   $ (15)
Other comprehensive earnings — unrealized gain (loss) on investments in unconsolidated affiliates 6 [1]           6      
Other comprehensive earnings (loss) - unrealized gain (loss) on foreign currency translation 6 [2]           6      
Reclassification adjustments for change in unrealized gains and losses included in net earnings 78 [3]           78      
Change in instrument-specific credit risk - market risk benefits 3 [4]           3      
Change in current discount rate — liability for future policy benefits (43) [5]           (43)      
Other comprehensive income (loss) associated with noncontrolling interests (33) [6]     (1)     (33)   34  
Stock-based compensation 28     27         1  
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               55,000,000    
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) earnings- unrealized (loss) gain on investments and other financial instruments (175)           (175)      
F&G purchase of FG stock/Purchase of incremental share in consolidated subsidiaries   $ (16)     $ (1)         $ (15)
Other comprehensive earnings — unrealized gain (loss) on investments in unconsolidated affiliates (5) [1]           (5)      
Other comprehensive earnings (loss) - unrealized gain (loss) on foreign currency translation 4 [2]           4      
Reclassification adjustments for change in unrealized gains and losses included in net earnings 42 [3]           42      
Change in instrument-specific credit risk - market risk benefits (4) [4]           (4)      
Change in current discount rate — liability for future policy benefits 57 [5]           57      
Other comprehensive income (loss) associated with noncontrolling interests 10 [6]     (1)     10   (9)  
Stock-based compensation 14     14            
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               55,000,000    
Ending balance at Jun. 30, 2023 6,677   $ 0 5,883   5,140 (2,681) $ (2,113) 448  
Beginning balance (in shares) at Dec. 31, 2023     329,000,000              
Beginning balance, Treasury stock (in shares) at Dec. 31, 2023               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]                    
Other comprehensive (loss) earnings- unrealized (loss) gain on investments and other financial instruments (168)           (168)      
F&G purchase of FG stock/Purchase of incremental share in consolidated subsidiaries (21)     (12)         (9)  
Other comprehensive earnings — unrealized gain (loss) on investments in unconsolidated affiliates 18 [1]           18      
Other comprehensive earnings (loss) - unrealized gain (loss) on foreign currency translation (9) [2]           (9)      
Exercise of stock options 10     10            
Reclassification adjustments for change in unrealized gains and losses included in net earnings (6) [3]           (6)      
Change in instrument-specific credit risk - market risk benefits 20 [4]           20      
Change in current discount rate — liability for future policy benefits 183 [5]           183      
Other comprehensive income (loss) associated with noncontrolling interests (6) [6]     (1)     (6)   7  
Stock-based compensation 33     31         2  
Dilution from share issuance by consolidated sub       1         (1)  
Shares withheld for taxes and in treasury (7)             $ (1) (6)  
Noncontrolling interest associated with current period acquisitions 136               136  
Dividends declared, per common share (262)         (262)        
Subsidiary dividends declared to non-controlling interests (18)               (18)  
Net earnings $ 612         554     58  
Ending balance (in shares) at Jun. 30, 2024     329,000,000              
Ending balance, Treasury stock (in shares) at Jun. 30, 2024 56,000,000             56,000,000    
Ending balance at Jun. 30, 2024 $ 7,981   $ 0 5,942   5,536 (2,087) $ (2,131) 721  
Beginning balance (in shares) at Mar. 31, 2024     329,000,000              
Beginning balance, Treasury stock (in shares) at Mar. 31, 2024               56,000,000    
Beginning balance at Mar. 31, 2024 7,837   $ 0 5,924   5,361 (2,029) $ (2,131) 712  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Other comprehensive (loss) earnings- unrealized (loss) gain on investments and other financial instruments (163)           (163)      
F&G purchase of FG stock/Purchase of incremental share in consolidated subsidiaries (14)     (8)         (6)  
Other comprehensive earnings — unrealized gain (loss) on investments in unconsolidated affiliates 5 [1]           5      
Other comprehensive earnings (loss) - unrealized gain (loss) on foreign currency translation (3) [2]           (3)      
Exercise of stock options 9     9            
Reclassification adjustments for change in unrealized gains and losses included in net earnings (19) [3]           (19)      
Change in instrument-specific credit risk - market risk benefits 19 [4]           19      
Change in current discount rate — liability for future policy benefits 92 [5]           92      
Other comprehensive income (loss) associated with noncontrolling interests 11 [6]           11   (11)  
Stock-based compensation 16     16            
Dilution from share issuance by consolidated sub 1     1            
Dividends declared, per common share (131)         (131)        
Subsidiary dividends declared to non-controlling interests (11)               (11)  
Net earnings $ 343         306     37  
Ending balance (in shares) at Jun. 30, 2024     329,000,000              
Ending balance, Treasury stock (in shares) at Jun. 30, 2024 56,000,000             56,000,000    
Ending balance at Jun. 30, 2024 $ 7,981   $ 0 $ 5,942   $ 5,536 $ (2,087) $ (2,131) $ 721  
[1] Net of income tax expense (benefit) of $1 million and $(1) million for the three months ended June 30, 2024 and 2023, respectively, and $5 million and $2 million for the six months ended June 30, 2024 and 2023, respectively.
[2] Net of income tax (benefit) expense of $(1) million and less than $1 million for the three months ended June 30, 2024 and 2023, respectively, and $(2) million and $1 million for the six months ended June 30, 2024 and 2023, respectively.
[3] Net of income tax (benefit) expense of $(5) million and $11 million for the three months ended June 30, 2024 and 2023, respectively, and $(1) million and $21 million for the six months ended June 30, 2024 and 2023, respectively.
[4] Net of income tax expense (benefit) of less than $5 million and $(1) million for the three months ended June 30, 2024 and 2023, respectively, and $5 million and $1 million for the six months ended June 30, 2024 and 2023, respectively.
[5] Net of income tax expense (benefit) of $25 million and $15 million for the three months ended June 30, 2024 and 2023, respectively, and $49 million and $(12) million for the six months ended June 30, 2024 and 2023, respectively.
[6] Net of income tax expense (benefit) of $3 million and $3 million for the three months ended June 30, 2024 and 2023, respectively, and $(2) million and $(9) million for the six months ended June 30, 2024 and 2023, respectively.