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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Investments:    
Fixed maturities available-for-sale, at fair value (amortized cost of $84,717 and $74,033) (allowance for credit losses of $2 and $4) $ 76,641 $ 67,030
Fixed maturities, at fair value using the fair value option [1] 2,053 1,654
Mortgage loans on real estate (net of allowance for credit losses of $278 and $279) [1] 20,072 18,171
Policy loans 4,330 4,158
Other equity investments [1] 3,719 3,384
Trading securities, at fair value 1,095 1,057
Other invested assets [1] 8,537 6,719
Total investments 116,447 102,173
Cash and cash equivalents [1] 6,964 8,239
Cash and securities segregated, at fair value 500 868
Broker-dealer related receivables 1,961 1,837
Deferred policy acquisition costs 7,170 6,705
Goodwill and other intangible assets, net 5,371 5,433
Amounts due from reinsurers (allowance for credit losses of $8 and $7) 8,044 8,352
Current and deferred income taxes 1,997 2,050
Purchased market risk benefits 7,376 9,427
Other assets [1] 4,462 3,323
Assets held-for-sale 0 565
Assets for market risk benefits 863 591
Separate Accounts assets 134,711 127,251
Total Assets 295,866 276,814
LIABILITIES    
Policyholders’ account balances 110,965 95,673
Liability for market risk benefits 11,810 14,612
Future policy benefits and other policyholders’ liabilities 17,613 17,363
Broker-dealer related payables 775 1,232
Customer related payables 1,933 2,201
Amounts due to reinsurers 1,407 1,450
Short-term debt 0 254
Long-term debt 3,833 3,820
Notes issued by consolidated variable interest entities, at fair value using the fair value option [1] 2,116 1,559
Other liabilities [1] 7,135 6,088
Liabilities held-for-sale 0 153
Separate Accounts liabilities 134,711 127,251
Total Liabilities 292,298 271,656
Redeemable noncontrolling interest [1],[2] 125 770
Commitments and contingent liabilities [3]
Equity attributable to Holdings:    
Preferred stock and additional paid-in capital, $1 par value and $25,000 liquidation preference 1,507 1,562
Common stock, $0.01 par value, 2,000,000,000 shares authorized; 477,801,636 and 491,003,966 shares issued, respectively; 309,900,248 and 333,877,990 shares outstanding, respectively 5 5
Additional paid-in capital 2,336 2,328
Treasury stock, at cost, $167,901,388 and 157,125,976 shares, respectively (4,198) (3,712)
Retained earnings 10,647 10,243
Accumulated other comprehensive income (loss) (8,712) (7,777)
Total equity attributable to Holdings 1,585 2,649
Noncontrolling interest 1,858 1,739
Total Equity 3,443 4,388
Total Liabilities, Redeemable Noncontrolling Interest and Equity $ 295,866 $ 276,814
[1] See Note 2 of the Notes to these Consolidated Financial Statements for details of balances with VIEs.
[2] See Note 24 of the Notes to these Consolidated Financial Statements for details of redeemable noncontrolling interest.
[3] See Note 19 of the Notes to these Consolidated Financial Statements for details of commitments and contingent liabilities.