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CONDENSED CONSOLIDATED STATEMENTS OF EQUITY - USD ($)
shares in Millions, $ 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              
Beginning balance at Dec. 31, 2022 $ 6,569   $ 0 $ 5,870   $ 5,225 $ (2,870) $ (2,109) $ 453  
Beginning balance, Treasury stock (in shares) at Dec. 31, 2022               55    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Treasury stock repurchased/F&G purchases of treasury stock (4) $ (19)     $ (1)     $ (4)   $ (18)
F&G purchase of FG stock/Purchase of incremental share in consolidated subsidiaries (21)     (12)         (9)  
Other comprehensive (loss) earnings- unrealized (loss) gain on investments and other financial instruments (505)           (505)      
Other comprehensive earnings — unrealized (loss) gain on investments in unconsolidated affiliates 9 [1]           9      
Other comprehensive earnings (loss) - unrealized gain (loss) on foreign currency translation (1) [2]           (1)      
Reclassification adjustments for change in unrealized gains and losses included in net earnings 90 [3]           90      
Change in instrument-specific credit risk - market risk benefits (7) [4]           (7)      
Change in current discount rate — liability for future policy benefits 186 [5]           186      
Other comprehensive income (loss) associated with noncontrolling interests 31 [6]     (1)     31   (30)  
Stock-based compensation 43     39         4  
Shares withheld for taxes and in treasury (1)             (1)    
Dividends declared, per common share (367)         (367)        
Subsidiary dividends declared to non-controlling interests (20)               (20)  
Net earnings 632         586     46  
Ending balance (in shares) at Sep. 30, 2023     328              
Ending balance at Sep. 30, 2023 6,584   $ 0 5,895   5,444 (3,067) $ (2,114) 426  
Ending balance, Treasury stock (in shares) at Sep. 30, 2023               55    
Beginning balance (in shares) at Jun. 30, 2023     328              
Beginning balance at Jun. 30, 2023 6,677   $ 0 5,883   5,140 (2,681) $ (2,113) 448  
Beginning balance, Treasury stock (in shares) at Jun. 30, 2023               55    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
F&G purchase of FG stock/Purchase of incremental share in consolidated subsidiaries   $ (3)               $ (3)
Other comprehensive (loss) earnings- unrealized (loss) gain on investments and other financial instruments (676)           (676)      
Other comprehensive earnings — unrealized (loss) gain on investments in unconsolidated affiliates 3 [1]           3      
Other comprehensive earnings (loss) - unrealized gain (loss) on foreign currency translation (7) [2]           (7)      
Reclassification adjustments for change in unrealized gains and losses included in net earnings 12 [3]           12      
Change in instrument-specific credit risk - market risk benefits (10) [4]           (10)      
Change in current discount rate — liability for future policy benefits 229 [5]           229      
Other comprehensive income (loss) associated with noncontrolling interests 63 [6]           63   (63)  
Stock-based compensation 14     12         2  
Shares withheld for taxes and in treasury (1)             $ (1)    
Dividends declared, per common share (122)         (122)        
Subsidiary dividends declared to non-controlling interests (9)               (9)  
Net earnings 477         426     51  
Ending balance (in shares) at Sep. 30, 2023     328              
Ending balance at Sep. 30, 2023 6,584   $ 0 5,895   5,444 (3,067) $ (2,114) 426  
Ending balance, Treasury stock (in shares) at Sep. 30, 2023               55    
Beginning balance (in shares) at Dec. 31, 2023     329              
Beginning balance at Dec. 31, 2023 $ 7,460   $ 0 5,913   5,244 (2,119) $ (2,130) 552  
Beginning balance, Treasury stock (in shares) at Dec. 31, 2023 56             56    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Exercise of stock options (in shares)     1              
Exercise of stock options $ 17     17            
F&G purchase of FG stock/Purchase of incremental share in consolidated subsidiaries (21)     (12)         (9)  
Other comprehensive (loss) earnings- unrealized (loss) gain on investments and other financial instruments 913           913      
Other comprehensive earnings — unrealized (loss) gain on investments in unconsolidated affiliates 23 [1]           23      
Other comprehensive earnings (loss) - unrealized gain (loss) on foreign currency translation (3) [2]           (3)      
Reclassification adjustments for change in unrealized gains and losses included in net earnings (4) [3]           (4)      
Change in instrument-specific credit risk - market risk benefits (5) [4]           (5)      
Change in current discount rate — liability for future policy benefits (110) [5]           (110)      
Other comprehensive income (loss) associated with noncontrolling interests (118) [6]     (1)     (118)   119  
Stock-based compensation 48     47         1  
Dilution from share issuance by consolidated sub 0     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 (393)         (393)        
Subsidiary dividends declared to non-controlling interests (35)               (35)  
Net earnings 883         820     63  
Ending balance (in shares) at Sep. 30, 2024     330              
Ending balance at Sep. 30, 2024 $ 8,902   $ 0 5,965   5,671 (1,423) $ (2,131) 820  
Ending balance, Treasury stock (in shares) at Sep. 30, 2024 56             56    
Beginning balance (in shares) at Jun. 30, 2024     329              
Beginning balance at Jun. 30, 2024 $ 7,981   $ 0 5,942   5,536 (2,087) $ (2,131) 721  
Beginning balance, Treasury stock (in shares) at Jun. 30, 2024               56    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Exercise of stock options (in shares)     1              
Exercise of stock options 7     7            
Other comprehensive (loss) earnings- unrealized (loss) gain on investments and other financial instruments 1,082           1,082      
Other comprehensive earnings — unrealized (loss) gain on investments in unconsolidated affiliates 5 [1]           5      
Other comprehensive earnings (loss) - unrealized gain (loss) on foreign currency translation 5 [2]           5      
Reclassification adjustments for change in unrealized gains and losses included in net earnings 2 [3]           2      
Change in instrument-specific credit risk - market risk benefits (25) [4]           (25)      
Change in current discount rate — liability for future policy benefits (293) [5]           (293)      
Other comprehensive income (loss) associated with noncontrolling interests (112) [6]           (112)   112  
Stock-based compensation 14     15         (1)  
Dilution from share issuance by consolidated sub 1     1            
Dividends declared, per common share (131)         (131)        
Subsidiary dividends declared to non-controlling interests (17)               (17)  
Net earnings 271         266     5  
Ending balance (in shares) at Sep. 30, 2024     330              
Ending balance at Sep. 30, 2024 $ 8,902   $ 0 $ 5,965   $ 5,671 $ (1,423) $ (2,131) $ 820  
Ending balance, Treasury stock (in shares) at Sep. 30, 2024 56             56    
[1] Net of income tax expense of $1 million and $1 million for the three months ended September 30, 2024 and 2023, respectively, and $6 million and $2 million for the nine months ended September 30, 2024 and 2023, respectively.
[2] Net of income tax expense (benefit) of $2 million and $(2) million for the three months ended September 30, 2024 and 2023, respectively, and $(9) million for the nine months ended September 30, 2023.
[3] Net of income tax expense (benefit) of $2 million for the three months ended September 30, 2023, and $(1) million and $22 million for the nine months ended September 30, 2024 and 2023, respectively.
[4] Net of income tax benefit of $6 million and $3 million for the three months ended September 30, 2024 and 2023, respectively, and $1 million and $2 million for the nine months ended September 30, 2024 and 2023, respectively.
[5] Net of income tax (benefit) expense of $(78) million and $61 million for the three months ended September 30, 2024 and 2023, respectively, and $(29) million and $49 million for the nine months ended September 30, 2024 and 2023, respectively.
[6] Net of income tax (benefit) expense of $(28) million and $17 million for the three months ended September 30, 2024 and 2023, respectively, and $(30) million and $9 million for the nine months ended September 30, 2024 and 2023, respectively.