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EQUITY (Tables)
 3 Months Ended
Mar. 31, 2025
Equity [Abstract]  
Schedule of Stock by Class
Preferred stock authorized, issued and outstanding was as follows:
March 31, 2025December 31, 2024
SeriesShares AuthorizedShares
 Issued		Shares OutstandingShares AuthorizedShares
 Issued		Shares Outstanding
Series A 32,000 32,000 32,000 32,000 32,000 32,000 
Series B 20,000 17,773 17,773 20,000 17,773 17,773 
Series C12,000 12,000 12,000 12,000 12,000 12,000 
Total64,000 61,773 61,773 64,000 61,773 61,773 
Schedule of Dividends Declared
Dividends declared per share were as follows:
Three Months Ended March 31,
20252024
Series A dividends declared $328 $328 
Series B dividends declared$— $— 
Series C dividends declared$269 $269 
Common Stock
Dividends declared per share of common stock were as follows:
Three Months Ended March 31,
20252024
Dividends declared$0.24 $0.22 
Schedule of Accumulated Other Comprehensive Income (Loss)
AOCI represents cumulative gains (losses) on items that are not reflected in net income (loss). The balances are as follows:
 
March 31, 2025December 31, 2024
 
(in millions)
Unrealized gains (losses) on investments$(6,864)$(7,334)
Market risk benefits - instrument -specific credit risk component
(386)(1,125)
Liability for future policy benefits - current discount rate component
293 372 
Defined benefit pension plans(562)(579)
Foreign currency translation adjustments(77)(88)
Total accumulated other comprehensive income (loss)(7,596)(8,754)
Less: Accumulated other comprehensive income (loss) attributable to noncontrolling interest(29)(42)
Accumulated other comprehensive income (loss) attributable to Holdings$(7,567)$(8,712)
Schedule of Components of Accumulated Other Comprehensive Income (Loss), Net of Taxes
The components of OCI, net of taxes for follows:
Three Months Ended March 31,
 2025

2024
 
(in millions)
Change in net unrealized gains (losses) on investments:
Net unrealized gains (losses) arising during the period
$658 $(543)
(Gains) losses reclassified into net income (loss) during the period (1)
6 21 
Net unrealized gains (losses) on investments664 (522)
Adjustments for policyholders’ liabilities, DAC, insurance liability loss recognition and other(55)9 
Change in unrealized gains (losses), net of adjustments (net of deferred income tax expense (benefit) of $173 and $(133))
609 (513)
Change in LFPB discount rate and MRB credit risk, net of tax
Changes in instrument-specific credit risk - market risk benefits (net of deferred income tax expense (benefit) of $155 and $5)
584 20
Changes in current discount rate - liability for future policy benefits (net of deferred income tax expense (benefit) of $(17) and $26)
(63)98
Change in defined benefit plans:
Reclassification to Net income (loss) of amortization of net prior service credit included in net periodic cost)
17 8 
Change in defined benefit plans (net of deferred income tax expense (benefit) of $(2) and $(2))
17 8
Foreign currency translation adjustments:
Foreign currency translation gains (losses) arising during the period11 (11)
Foreign currency translation adjustment11 (11)
Total other comprehensive income (loss), net of income taxes1,158 (398)
Less: Other comprehensive income (loss) attributable to noncontrolling interest13 (4)
Other comprehensive income (loss) attributable to Holdings$1,145 $(394)
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(1)See “reclassification adjustments” in Note 3 of the Notes to these Consolidated Financial Statements. Reclassification amounts presented net of income tax expense (benefit) of $(2) million and $(5) million for the three months ended March 31, 2025 and 2024, respectively.