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Condensed Consolidated Statements of Income (Loss) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues        
Premiums Earned, Net $ 26 $ 3,045 $ 9,163 $ 10,769
Insurance Commissions and Fees 217 184 622 525
Net Investment Income 2,928 1,843 8,052 5,252
Investment related gains (losses) (2,624) (2,848) (1,193) (12,811)
Other Income 564 (26) 584 (38)
Total revenues 1,436 2,310 18,182 3,836
Benefits and expenses        
Interest sensitive contract benefits 333 171 3,634 (581)
Future policy and other policy benefits 368 3,270 10,346 11,230
Market risk benefits remeasurement (gains) losses (441) (458) (166) (1,689)
Amortization of deferred acquisition costs, deferred sales inducements and value of business acquired 211 112 502 318
Policy and other operating expenses 472 388 1,359 1,083
Total benefits and expenses 943 3,483 15,675 10,361
Income (loss) before income taxes 493 (1,173) 2,507 (6,525)
Income tax expense (benefit) 162 (121) 458 (783)
Net income (loss) 331 (1,052) 2,049 (5,742)
Less: Net income (loss) attributable to noncontrolling interests (155) (465) 354 (2,435)
Net income (loss) attributable to Athene Holding Ltd. shareholders 486 (587) 1,695 (3,307)
Less: Preferred stock dividends 44 35 136 105
Net income (loss) available to Athene Holding Ltd. common shareholder 442 (622) 1,559 (3,412)
Variable Interest Entities        
Revenues        
Net Investment Income 75 33 210 80
Investment related gains (losses) 250 79 744 59
Consolidated Entity Excluding Variable Interest Entities (VIE)        
Revenues        
Net Investment Income 2,928 1,843 8,052 5,252
Investment related gains (losses) $ (2,624) $ (2,848) $ (1,193) $ (12,811)