| Accumulated Other Comprehensive Income |
The following provides the details and changes in AOCI: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (In millions) | Unrealized investment gains (losses) on AFS securities without a credit allowance | | Unrealized investment gains (losses) on AFS securities with a credit allowance | | Unrealized gains (losses) on hedging instruments | | Remeasurement gains (losses) on future policy benefits related to discount rate | | Remeasurement gains (losses) on market risk benefits related to credit risk | | Foreign currency translation and other adjustments | | Accumulated other comprehensive income (loss) | | Balance at June 30, 2024 | $ | (9,670) | | | $ | (277) | | | $ | (83) | | | $ | 4,218 | | | $ | 5 | | | $ | (2) | | | $ | (5,809) | | | | | | | | | | | | | | | | Other comprehensive income (loss) before reclassifications | 5,142 | | | (22) | | | 225 | | | (2,263) | | | (93) | | | 36 | | | 3,025 | | Less: Reclassification adjustments for gains (losses) realized in net income1 | (348) | | | (8) | | | 4 | | | — | | | — | | | — | | | (352) | | Less: Income tax expense (benefit) | 1,122 | | | (3) | | | 47 | | | (472) | | | (20) | | | 6 | | | 680 | | | Less: Other comprehensive income (loss) attributable to noncontrolling interests, net of tax | 886 | | | 7 | | | 60 | | | (596) | | | (9) | | | 7 | | | 355 | | | Balance at September 30, 2024 | $ | (6,188) | | | $ | (295) | | | $ | 31 | | | $ | 3,023 | | | $ | (59) | | | $ | 21 | | | $ | (3,467) | | | | | | | | | | | | | | | | 1 Recognized in investment related gains (losses) on the condensed consolidated statements of income. |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (In millions) | Unrealized investment gains (losses) on AFS securities without a credit allowance | | Unrealized investment gains (losses) on AFS securities with a credit allowance | | Unrealized gains (losses) on hedging instruments | | Remeasurement gains (losses) on future policy benefits related to discount rate | | Remeasurement gains (losses) on market risk benefits related to credit risk | | Foreign currency translation and other adjustments | | Accumulated other comprehensive income (loss) | | Balance at June 30, 2023 | $ | (11,049) | | | $ | (378) | | | $ | 26 | | | $ | 4,708 | | | $ | 312 | | | $ | 5 | | | $ | (6,376) | | | | | | | | | | | | | | | | | Other comprehensive income (loss) before reclassifications | (3,199) | | | 33 | | | (192) | | | 1,317 | | | (254) | | | (21) | | | (2,316) | | Less: Reclassification adjustments for gains (losses) realized in net income1 | (11) | | | — | | | 21 | | | — | | | — | | | — | | | 10 | | Less: Income tax expense (benefit) | (654) | | | 6 | | | (46) | | | 273 | | | (52) | | | (3) | | | (476) | | | Less: Other comprehensive income (loss) attributable to noncontrolling interests, net of subsidiary issuance of equity interests and tax | (577) | | | (3) | | | (26) | | | 471 | | | (8) | | | (4) | | | (147) | | | Balance at September 30, 2023 | $ | (13,006) | | | $ | (348) | | | $ | (115) | | | $ | 5,281 | | | $ | 118 | | | $ | (9) | | | $ | (8,079) | | | | | | | | | | | | | | | | 1 Recognized in investment related gains (losses) on the condensed consolidated statements of income. |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (In millions) | Unrealized investment gains (losses) on AFS securities without a credit allowance | | Unrealized investment gains (losses) on AFS securities with a credit allowance | | Unrealized gains (losses) on hedging instruments | | Remeasurement gains (losses) on future policy benefits related to discount rate | | Remeasurement gains (losses) on market risk benefits related to credit risk | | Foreign currency translation and other adjustments | | Accumulated other comprehensive income (loss) | | Balance at December 31, 2023 | $ | (8,672) | | | $ | (289) | | | $ | (82) | | | $ | 3,458 | | | $ | 3 | | | $ | 13 | | | $ | (5,569) | | | | | | | | | | | | | | | | Other comprehensive income (loss) before reclassifications | 3,528 | | | (19) | | | 264 | | | (832) | | | (87) | | | 15 | | | 2,869 | | Less: Reclassification adjustments for gains (losses) realized in net income1 | (237) | | | (14) | | | 35 | | | — | | | — | | | — | | | (216) | | Less: Income tax expense (benefit) | 776 | | | (1) | | | 49 | | | (176) | | | (18) | | | 2 | | | 632 | | | Less: Other comprehensive income (loss) attributable to noncontrolling interests, net of tax | 505 | | | 2 | | | 67 | | | (221) | | | (7) | | | 5 | | | 351 | | | Balance at September 30, 2024 | $ | (6,188) | | | $ | (295) | | | $ | 31 | | | $ | 3,023 | | | $ | (59) | | | $ | 21 | | | $ | (3,467) | | | | | | | | | | | | | | | | 1 Recognized in investment related gains (losses) on the condensed consolidated statements of income. |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (In millions) | Unrealized investment gains (losses) on AFS securities without a credit allowance | | Unrealized investment gains (losses) on AFS securities with a credit allowance | | Unrealized gains (losses) on hedging instruments | | Remeasurement gains (losses) on future policy benefits related to discount rate | | Remeasurement gains (losses) on market risk benefits related to credit risk | | Foreign currency translation and other adjustments | | Accumulated other comprehensive income (loss) | | Balance at December 31, 2022 | $ | (12,565) | | | $ | (334) | | | $ | 47 | | | $ | 5,256 | | | $ | 285 | | | $ | (10) | | | $ | (7,321) | | | | | | | | | | | | | | | | | Other comprehensive income (loss) before reclassifications | (1,841) | | | (31) | | | (214) | | | 1,328 | | | (220) | | | 6 | | | (972) | | Less: Reclassification adjustments for gains (losses) realized in net income1 | (105) | | | — | | | 66 | | | — | | | — | | | — | | | (39) | | Less: Income tax expense (benefit) | (828) | | | (12) | | | (68) | | | 777 | | | (46) | | | 2 | | | (175) | | | Less: Other comprehensive income (loss) attributable to noncontrolling interests, net of subsidiary issuance of equity interests and tax | (467) | | | (5) | | | (50) | | | 526 | | | (7) | | | 3 | | | — | | | Balance at September 30, 2023 | $ | (13,006) | | | $ | (348) | | | $ | (115) | | | $ | 5,281 | | | $ | 118 | | | $ | (9) | | | $ | (8,079) | | | | | | | | | | | | | | | | 1 Recognized in investment related gains (losses) on the condensed consolidated statements of income. |
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