Equity (Tables)

9 Months Ended

Sep. 30, 2024

Equity [Abstract]

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.