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Equity
6 Months Ended
Jun. 30, 2024
Stockholders' Equity Note [Abstract]  
Stockholders' Equity Note Disclosure [Text Block] EQUITY
Common stock
The changes in number of common stock shares issued, held in treasury and outstanding are as follows for the periods indicated:
IssuedHeld In TreasuryOutstanding
Balance, December 31, 202385,310,598 19,689,885 65,620,713 
Common stock acquired— — — 
Equity based compensation (1)
— (203,683)203,683 
Balance, June 30, 202485,310,598 19,486,202 65,824,396 
IssuedHeld In TreasuryOutstanding
Balance, December 31, 202285,310,598 18,634,390 66,676,208 
Common stock acquired— 722,774 (722,774)
Equity based compensation (1)
— (258,365)258,365 
Balance, June 30, 202385,310,598 19,098,799 66,211,799 
(1)Represents net shares issued from treasury pursuant to the Company’s equity based compensation programs.
Common Stock Held in Treasury
Common stock held in treasury is accounted for at average cost. Gains resulting from the reissuance of common stock held in treasury are credited to additional paid-in capital. Losses resulting from the reissuance of common stock held in treasury are charged first to additional paid-in capital to the extent the Company has previously recorded gains on treasury share transactions, then to retained earnings.
On January 23, 2024, the Company’s board of directors authorized a share repurchase program for up to $500 million of its outstanding common stock. The authorization was effective immediately and does not have an expiration date. During the six months ended June 30, 2024, the Company did not repurchase any shares of common stock under this program.
Noncontrolling Interest
In 2022, Papara Financing LLC (“Papara”), a subsidiary of RGA Reinsurance Company, issued nonconvertible preferred interests to an unaffiliated third party. The membership interests in Papara consist of (1) common interests, which are held by RGA Reinsurance Company, and (2) preferred interests. The preferred interests, included in noncontrolling interest, total $90 million.
Accumulated Other Comprehensive Income (Loss)
The balance of and changes in each component of accumulated other comprehensive income (loss) (“AOCI”) for the six months ended June 30, 2024 and 2023 are as follows (dollars in millions):
 Accumulated Other Comprehensive Income (Loss), Net of Income Tax
 Foreign Currency Translation Adjustments
Net Unrealized Investment Gains
(Losses) (1)
Pension and
Postretirement
Benefits
Effect of Updating Discount Rates on Future Policy BenefitsInstrument-Specific Credit Risk for Market Risk BenefitsTotal
Balance, December 31, 2023$69 $(3,668)$(29)$3,256 $$(369)
Other comprehensive income (loss) before reclassifications39 (1,625)— 1,737 155 
Amounts reclassified to (from) AOCI— 304 — — — 304 
Deferred income tax benefit (expense)(21)294 — (382)(1)(110)
Balance, June 30, 2024$87 $(4,695)$(29)$4,611 $$(20)
 Accumulated Other Comprehensive Income (Loss), Net of Income Tax
 Foreign Currency Translation Adjustments
Net Unrealized Investment Gains
(Losses) (1)
Pension and
Postretirement
Benefits
Effect of Updating Discount Rates on Future Policy BenefitsInstrument-Specific Credit Risk for Market Risk BenefitsTotal
Balance, December 31, 2022$(116)$(5,496)$(27)$3,755 $13 $(1,871)
Other comprehensive income (loss) before reclassifications169 687 11 (377)— 490 
Amounts reclassified to (from) AOCI— 99 — — — 99 
Deferred income tax benefit (expense)(27)(169)(2)82 — (116)
Balance, June 30, 2023$26 $(4,879)$(18)$3,460 $13 $(1,398)
(1)Includes cash flow hedges of $(413) and $(218) as of June 30, 2024 and December 31, 2023, respectively, and $(228) and $(205) as of June 30, 2023 and December 31, 2022, respectively. See Note 11 – “Derivative Instruments” for additional information on cash flow hedges.
The following table presents the amounts of AOCI reclassifications for the three and six months ended June 30, 2024 and 2023 (dollars in millions):
Amount Reclassified from AOCI
Three months ended June 30,Six months ended June 30,Affected Line Item in 
Statements of Income
Details about AOCI Components2024202320242023
Net unrealized investment gains (losses):
Net unrealized gains (losses) on available-for-sale securities$(170)$(9)$(288)$(96)Investment related gains (losses), net
Cash flow hedges – Interest rate(1)
Cash flow hedges – Currency/Interest rate(14)(4)(22)(7)(1)
Total(181)(11)(304)(99)
Provision for income taxes37 61 23 
Net unrealized gains (losses), net of tax$(144)$(6)$(243)$(76)
Amortization of defined benefit plan items:
Prior service cost (credit)
$$$$(2)
Actuarial gains (losses)— — (1)(1)(2)
Total— — 
Provision for income taxes— — — — 
Amortization of defined benefit plans, net of tax$$$— $— 
Total reclassifications for the period$(143)$(5)$(243)$(76)
(1)See Note 11 – “Derivative Instruments” for additional information on cash flow hedges.
(2)This AOCI component is included in the computation of the net periodic pension cost. See Note 14 – “Employee Benefit Plans” for additional details.