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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

Income tax expense (benefit) on continuing operations consists of the following:

			Year Ended December 31,
			2024						2023						2022
			(In millions)
Current			$	360					$	241					$	331
Deferred			7						(49)						108
			$	367					$	192					$	439

Schedule of Components of Income Tax Expense (Benefit)

Total income tax expense was allocated as follows:

			Year Ended December 31,
			2024						2023						2022
			(In millions)
Net earnings from continuing operations			$	367					$	192					$	439
Other comprehensive earnings (loss):
Unrealized (loss) gain on investments and other financial instruments			(35)						275						(1,198)
Unrealized (loss) gain on foreign currency translation and cash flow hedging			(6)						2						(4)
Changes in current discount rate - future policy benefits			59						(50)						203
Changes in instrument - specific credit risk - market risk benefits			1						(9)						18
F&G 15% Distribution			(3)						(35)						9
Minimum pension liability adjustment			—						—						2
Total income tax expense (benefit) allocated to other comprehensive earnings			16						183						(970)
Total income tax expense (benefit)			$	383					$	375					$	(531)

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the federal statutory rate to our effective tax rate is as follows:

			Year Ended December 31,
			2024						2023						2022
Federal statutory rate			21.0		%				21.0		%				21.0		%
State income taxes, net of federal benefit			1.8						2.4						2.0
Stock compensation			(0.5)						(0.2)						(0.1)
Tax credits			(0.7)						(1.8)						(0.7)
Valuation allowance for deferred tax assets			(1.0)						5.0						5.4
Benefit on Capital Loss Carryback			—						—						(1.3)
Officers Compensation			0.8						1.2						0.4
Non-deductible expenses and other, net			(0.3)						0.1						(1.3)
Effective tax rate			21.1		%				27.7		%				25.4		%

Schedule of Deferred Tax Assets and Liabilities

The significant components of deferred tax assets and liabilities consist of the following:

			December 31,
			2024						2023
			(In millions)
Deferred Tax Assets:
Employee benefit accruals			$	129					$	116
Net operating loss carryforwards			115						84
Tax credits			204						119
Investment securities			775						686
Capital loss carryover			19						38
Life insurance and claim related adjustments			451						547
Funds held under reinsurance agreements			822						500
Market Risk Benefits			56						61
Bermuda corporate income tax net operating loss carryforward			10						24
Other			42						26
Total gross deferred tax asset			2,623						2,201
Less: valuation allowance			164						197
Total deferred tax asset			$	2,459					$	2,004
Deferred Tax Liabilities:
Title plant			$	(53)					$	(53)
Amortization of goodwill and intangible assets			(71)						(98)
Other			(11)						(25)
Depreciation			(24)						(29)
Partnerships			(198)						(152)
Value of business acquired			(283)						(304)
Deferred acquisition costs			(543)						(361)
Funds held under reinsurance agreements			(945)						(621)
Title Insurance reserve discounting			(16)						(18)
Total deferred tax liability			$	(2,144)					$	(1,661)
Net deferred tax asset			$	315					$	343

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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