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SCHEDULE II - PARENT COMPANY - Statements of Income (Loss) and Comprehensive Income (Loss) (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
REVENUES      
Net investment income (loss) $ 4,896 $ 4,320 $ 3,315
Investment gains (losses), net (51) (493) (631)
Other income 1,305 1,014 1,028
Total revenues 12,437 10,528 12,644
EXPENSES      
Interest expense 226 228 201
Other operating costs and expenses 1,822 1,898 2,185
Total benefits and other deductions 10,326 9,790 9,652
Income (loss) from continuing operations, before income taxes 2,111 738 2,992
Income tax (expense) benefit (288) 905 (598)
Net income (loss) attributable to Holdings 1,307 1,302 2,153
Net income (loss) 1,823 1,643 2,394
Less: Preferred stock dividends 80 80 80
Net income (loss) available to Holdings’ common shareholders, basic 1,227 1,222 2,073
Net income (loss) available to Holdings’ common shareholders, diluted 1,227 1,222 2,073
Net income (loss) 1,823 1,643 2,394
Change in net unrealized gains (losses) on investments 760 (2,377) 12,606
Change in defined benefit plans 73 (3) 18
Total other comprehensive income (loss), net of income taxes (937) 1,225 (10,311)
Comprehensive income (loss) 886 2,868 (7,917)
Parent      
REVENUES      
Equity in income (losses) from continuing operations of consolidated subsidiaries 1,439 1,355 2,282
Net investment income (loss) 120 106 66
Investment gains (losses), net 3 0 0
Other income 1 0 0
Total revenues 1,563 1,461 2,348
EXPENSES      
Interest expense 298 291 248
Other operating costs and expenses 43 37 33
Total benefits and other deductions 341 328 281
Income (loss) from continuing operations, before income taxes 1,222 1,133 2,067
Income tax (expense) benefit 85 169 86
Net income (loss) attributable to Holdings 1,307 1,302 2,153
Net income (loss) 1,307 1,302 2,153
Less: Preferred stock dividends 80 80 80
Net income (loss) available to Holdings’ common shareholders, basic 1,227 1,222 2,073
Net income (loss) available to Holdings’ common shareholders, diluted 1,227 1,222 2,073
Net income (loss) 1,307 1,302 2,153
Change in net unrealized gains (losses) on investments 368 24 (6)
Change in defined benefit plans 60 (10) 10
Equity in net other comprehensive income (loss) from continuing operations of consolidated subsidiaries (1,363) 1,201 (10,299)
Total other comprehensive income (loss), net of income taxes (935) 1,215 (10,295)
Comprehensive income (loss) $ 372 $ 2,517 $ (8,142)