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CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)
$ in Millions
Total
Preferred stock
Additional Paid-In Capital
Accumulated Other Comprehensive Income (Loss)
Retained Earnings
Noncontrolling Interest
Beginning balance at Dec. 31, 2023 $ 5,899 $ 0 $ 5,185 $ (109) $ 716 $ 107
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income (loss) for period 361       368 (7)
Other comprehensive income (loss) 554     554    
Contributions from (distributions to) shareholders, net of tax 87         87
Dividends (79)       (79)  
Impact of common control acquisition 2,435 685 1,750      
Ending balance at Jun. 30, 2024 9,257 685 6,935 445 1,005 187
Beginning balance at Mar. 31, 2024 6,067 0 5,185 (59) 829 112
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income (loss) for period 247       255 (8)
Other comprehensive income (loss) 503     504   (1)
Contributions from (distributions to) shareholders, net of tax 84         84
Dividends (79)       (79)  
Impact of common control acquisition 2,435 685 1,750      
Ending balance at Jun. 30, 2024 9,257 685 6,935 445 1,005 187
Beginning balance at Dec. 31, 2024 10,028 685 7,569 340 1,356 78
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income (loss) for period (49)       (54) 5
Other comprehensive income (loss) 324     324    
Consolidations (deconsolidations) of noncontrolling interests 58         58
Contributions from (distributions to) noncontrolling interests (6)         (6)
Dividends (30)       (30)  
Preferred stock issuance 292 292        
Preferred stock redemption (400) (389)     (11)  
Other 0   (22)   22  
Ending balance at Jun. 30, 2025 10,217 588 7,547 664 1,283 135
Beginning balance at Mar. 31, 2025 10,045 588 7,571 670 1,133 83
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income (loss) for period 154       152 2
Other comprehensive income (loss) (6)     (6)    
Consolidations (deconsolidations) of noncontrolling interests 58         58
Contributions from (distributions to) noncontrolling interests (8)         (8)
Dividends (11)       (11)  
Other (15)   (24)   9  
Ending balance at Jun. 30, 2025 $ 10,217 $ 588 $ 7,547 $ 664 $ 1,283 $ 135