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BUSINESS SEGMENT INFORMATION - Operating Earning (Loss) By Segment (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2025 | Jun. 30, 2024 | Jun. 30, 2025 | Jun. 30, 2024
Segment Reporting Information [Line Items] |  |  |  |
Segment revenues | $ 3,801 | $ 3,618 | $ 7,585 | $ 7,257
Benefits and other deductions |  |  |  |
Policyholders’ benefits | 787 | 667 | 1,546 | 1,344
Interest credited to policyholders’ account balances | 805 | 598 | 1,468 | 1,177
Commissions and distribution-related payments | 488 | 463 | 989 | 900
Amortization of deferred policy acquisition costs | 193 | 169 | 381 | 341
Compensation and benefits | 569 | 563 | 1,161 | 1,162
Interest expense and financing fees | 72 | 63 | 130 | 126
Total benefits and other deductions | 2,914 | 2,523 | 5,675 | 5,050
Other segment items | 358 | 375 | 749 | 792
Income taxes | (92) | (119) | (194) | (229)
Less: Operating (earnings) loss attributable to the noncontrolling interest | 85 | 106 | 194 | 214
Operating earnings (loss) | 352 | 495 | 773 | 972
Operating Segments | Individual Retirement |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Segment revenues | 1,006 | 888 | 2,003 | 1,728
Benefits and other deductions |  |  |  |
Policyholders’ benefits | 76 | 78 | 168 | 155
Interest credited to policyholders’ account balances | 408 | 281 | 773 | 529
Commissions and distribution-related payments | 101 | 80 | 199 | 157
Amortization of deferred policy acquisition costs | 127 | 111 | 251 | 220
Compensation and benefits | 6 | 14 | 24 | 31
Interest expense and financing fees | 0 | 0 | 0 | 0
Total benefits and other deductions | 718 | 564 | 1,415 | 1,092
Other segment items | 31 | 38 | 76 | 72
Income taxes | (42) | (40) | (81) | (80)
Less: Operating (earnings) loss attributable to the noncontrolling interest | 0 | 0 | 0 | 0
Operating earnings (loss) | 215 | 246 | 431 | 484
Operating Segments | Group Retirement |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Segment revenues | 309 | 283 | 625 | 574
Benefits and other deductions |  |  |  |
Policyholders’ benefits | 0 | 0 | 0 | 0
Interest credited to policyholders’ account balances | 68 | 56 | 131 | 108
Commissions and distribution-related payments | 44 | 45 | 87 | 89
Amortization of deferred policy acquisition costs | 16 | 8 | 31 | 23
Compensation and benefits | 9 | 8 | 21 | 18
Interest expense and financing fees | 0 | 0 | 0 | 0
Total benefits and other deductions | 137 | 117 | 270 | 238
Other segment items | 23 | 21 | 53 | 46
Income taxes | (25) | (20) | (48) | (41)
Less: Operating (earnings) loss attributable to the noncontrolling interest | 0 | 0 | 0 | 0
Operating earnings (loss) | 124 | 125 | 254 | 249
Operating Segments | Asset Management |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Segment revenues | 1,094 | 1,051 | 2,182 | 2,144
Benefits and other deductions |  |  |  |
Policyholders’ benefits | 0 | 0 | 0 | 0
Interest credited to policyholders’ account balances | 0 | 0 | 0 | 0
Commissions and distribution-related payments | 197 | 180 | 398 | 353
Amortization of deferred policy acquisition costs | 0 | 0 | 0 | 0
Compensation and benefits | 429 | 420 | 851 | 867
Interest expense and financing fees | 9 | 12 | 16 | 29
Total benefits and other deductions | 635 | 612 | 1,265 | 1,249
Other segment items | 196 | 201 | 381 | 409
Income taxes | (48) | (42) | (89) | (86)
Less: Operating (earnings) loss attributable to the noncontrolling interest | 84 | 95 | 190 | 193
Operating earnings (loss) | 131 | 101 | 257 | 207
Operating Segments | Protection Solutions |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Segment revenues | 825 | 834 | 1,651 | 1,658
Benefits and other deductions |  |  |  |
Policyholders’ benefits | 603 | 473 | 1,159 | 960
Interest credited to policyholders’ account balances | 145 | 128 | 266 | 256
Commissions and distribution-related payments | 41 | 43 | 83 | 83
Amortization of deferred policy acquisition costs | 32 | 32 | 64 | 62
Compensation and benefits | 27 | 37 | 65 | 73
Interest expense and financing fees | 0 | 0 | 2 | 0
Total benefits and other deductions | 848 | 713 | 1,639 | 1,434
Other segment items | 46 | 38 | 100 | 90
Income taxes | 11 | (12) | 14 | (19)
Less: Operating (earnings) loss attributable to the noncontrolling interest | 0 | (1) | 1 | (1)
Operating earnings (loss) | (58) | 72 | (75) | 116
Operating Segments | Wealth Management |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Segment revenues | 471 | 442 | 934 | 865
Benefits and other deductions |  |  |  |
Policyholders’ benefits | 0 | 0 | 0 | 0
Interest credited to policyholders’ account balances | 0 | 0 | 0 | 0
Commissions and distribution-related payments | 296 | 282 | 589 | 542
Amortization of deferred policy acquisition costs | 0 | 0 | 0 | 0
Compensation and benefits | 82 | 78 | 164 | 156
Interest expense and financing fees | 0 | 0 | 0 | 0
Total benefits and other deductions | 378 | 360 | 753 | 698
Other segment items | 24 | 21 | 51 | 48
Income taxes | (18) | (17) | (33) | (32)
Less: Operating (earnings) loss attributable to the noncontrolling interest | 0 | 0 | 0 | 0
Operating earnings (loss) | 51 | 44 | 97 | 87
Operating Segments | Legacy |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Segment revenues | 100 | 117 | 220 | 246
Benefits and other deductions |  |  |  |
Policyholders’ benefits | 0 | 0 | 0 | 0
Interest credited to policyholders’ account balances | 9 | 8 | 16 | 17
Commissions and distribution-related payments | 29 | 40 | 65 | 80
Amortization of deferred policy acquisition costs | 15 | 15 | 30 | 31
Compensation and benefits | 5 | 7 | 12 | 16
Interest expense and financing fees | 0 | 0 | 0 | 0
Total benefits and other deductions | 58 | 70 | 123 | 144
Other segment items | 8 | 15 | 35 | 31
Income taxes | (6) | (4) | (10) | (10)
Less: Operating (earnings) loss attributable to the noncontrolling interest | 0 | 0 | 0 | 0
Operating earnings (loss) | 28 | 28 | 52 | 61
Corporate and Other |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Segment revenues | 226 | 230 | 430 | 485
Benefits and other deductions |  |  |  |
Policyholders’ benefits | 108 | 116 | 219 | 229
Interest credited to policyholders’ account balances | 175 | 125 | 282 | 267
Commissions and distribution-related payments | 2 | 7 | 8 | 10
Amortization of deferred policy acquisition costs | 3 | 3 | 5 | 5
Compensation and benefits | 11 | (1) | 24 | 1
Interest expense and financing fees | 69 | 58 | 122 | 114
Total benefits and other deductions | 368 | 308 | 660 | 626
Other segment items | 32 | 47 | 63 | 108
Income taxes | 36 | 16 | 53 | 39
Less: Operating (earnings) loss attributable to the noncontrolling interest | 1 | 12 | 3 | 22
Operating earnings (loss) | (139) | (121) | (243) | (232)
Eliminations |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Segment revenues | (230) | (227) | (460) | (443)
Benefits and other deductions |  |  |  |
Policyholders’ benefits | 0 | 0 | 0 | 0
Interest credited to policyholders’ account balances | 0 | 0 | 0 | 0
Commissions and distribution-related payments | (222) | (214) | (440) | (414)
Amortization of deferred policy acquisition costs | 0 | 0 | 0 | 0
Compensation and benefits | 0 | 0 | 0 | 0
Interest expense and financing fees | (6) | (7) | (10) | (17)
Total benefits and other deductions | (228) | (221) | (450) | (431)
Other segment items | (2) | (6) | (10) | (12)
Income taxes | 0 | 0 | 0 | 0
Less: Operating (earnings) loss attributable to the noncontrolling interest | 0 | 0 | 0 | 0
Operating earnings (loss) | $ 0 | $ 0 | $ 0 | $ 0

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