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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 (in shares) at Dec. 31, 2021     325,000,000              
Beginning balance at Dec. 31, 2021 $ 10,004   $ 0 $ 5,810   $ 4,818 $ 878 $ (1,545) $ 43  
Beginning 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 acquisition 46               46  
Treasury stock repurchased (in shares)               13,000,000    
Treasury stock repurchased (549)             $ (549)    
Issuance of restricted stock (in shares)     1,000,000              
Purchase of incremental share in consolidated subsidiaries / F&G purchases of treasury stock (14)     (3)         (11)  
Other comprehensive earnings - unrealized (loss) gain on investments and other financial instruments (4,783)           (4,783)      
Other comprehensive earnings — unrealized gain on investments in unconsolidated affiliates 9 [1]           9      
Other comprehensive earnings - unrealized (loss) gain on foreign currency translation (18) [2]           (18)      
Other comprehensive earnings - minimum pension liability adjustment 5           5      
Reclassification adjustments for unrealized gains and losses included in net earnings 173 [3]           173      
Other comprehensive earnings attributable to non-controlling interest (9)           35   (35)  
Stock-based compensation 49     48         1  
Dividends declared (490)         (490)        
Shares withheld for taxes and in treasury (15)             (15)    
Change in current discount rate — liability for future policy benefits 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               55,000,000    
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)    
Issuance of restricted stock (in shares)     1,000,000              
Purchase of incremental share in consolidated subsidiaries / F&G purchases of treasury stock (19) $ (19)   (11) $ (1)       (8) $ (18)
Other comprehensive earnings - unrealized (loss) gain on investments and other financial instruments 961           961      
Other comprehensive earnings — unrealized gain on investments in unconsolidated affiliates 12 [1]           12      
Other comprehensive earnings - unrealized (loss) gain on foreign currency translation 6 [2]           6      
Other comprehensive earnings - minimum pension liability adjustment 3           3      
Reclassification adjustments for unrealized gains and losses included in net earnings 126 [3]           126      
Other comprehensive earnings attributable to non-controlling interest 35     (2)     (134)   136  
Stock-based compensation 59     55         4  
Dilution from share issuance by consolidated subsidiary       (13)         13  
Dividends declared (498)         (498)        
Shares withheld for taxes and in treasury (in shares)               (1,000,000)    
Shares withheld for taxes and in treasury (17)             $ (17)    
Change in current discount rate — liability for future policy benefits (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 56,000,000             56,000,000    
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Exercise of stock options (in shares)     1,000,000              
Exercise of stock options $ 21     21            
Non-controlling interest associated with current period acquisition 139               139  
Issuance of restricted stock (in shares)     1,000,000              
Purchase of incremental share in consolidated subsidiaries / F&G purchases of treasury stock (21)     (13)         (8)  
Other comprehensive earnings - unrealized (loss) gain on investments and other financial instruments (157)           (157)      
Other comprehensive earnings — unrealized gain on investments in unconsolidated affiliates 32 [1]           32      
Other comprehensive earnings - unrealized (loss) gain on foreign currency translation (22) [2]           (22)      
Reclassification adjustments for unrealized gains and losses included in net earnings (8) [3]           (8)      
Other comprehensive earnings attributable to non-controlling interest 3     (1)     (7)   8  
Stock-based compensation 82     80         2  
Dilution from share issuance by consolidated subsidiary       (24)         $ 24  
Dividends declared (532)         (532)        
Shares withheld for taxes and in treasury (in shares)                 (12,000,000)  
Shares withheld for taxes and in treasury (34)             $ (22)    
Change in current discount rate — liability for future policy benefits 224 [4]           224      
Changes in instrument-specific credit risk - market risk benefits 5 [5]           5      
Subsidiary dividends declared to non-controlling interests (48)               $ (48)  
Net earnings 1,391         1,270     121  
Ending balance (in shares) at Dec. 31, 2024     331,000,000              
Ending balance at Dec. 31, 2024 $ 8,532   $ 0 $ 5,976   $ 5,982 $ (2,052) $ (2,152) $ 778  
Ending balance, Treasury stock (in shares) at Dec. 31, 2024 56,000,000             56,000,000    
[1] Net of income tax expense of $9 million, $3 million, and $3 million for the years ended December 31, 2024, 2023, and 2022, respectively.
[2] Net of income tax (benefit) expense of $(6) million and $2 million, and $(4) million for the years ended December 31, 2024 and 2023, and 2022, respectively.
[3] Net of income tax (benefit) expense of $(1) million, $34 million and $45 million for the years ended December 31, 2024, 2023 and 2022, respectively.
[4] Net of income tax expense (benefit) of $59 million, $(50) million and $203 million for the years ended December 31, 2024, 2023 and 2022, respectively
[5] Net of income tax expense (benefit) of $1 million, $(9) million and $18 million for the years ended December 31, 2024, 2023 and 2022, respectively.