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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
[1]
Dec. 31, 2021
[1]
Revenues      
Net investment income $ 3,206 $ 1,474 $ 1,683
Premiums, policy and contract charges 1,539 1,397 221
Other revenues 513 491 382
Total revenues 16,096 14,334 13,389
Banking and deposit interest expense 561 76 12
Total net revenues 15,535 14,258 13,377
Benefits and expenses      
Distribution expenses 5,078 4,935 5,028
Interest credited to fixed accounts 654 665 600
Benefits, claims, losses and settlement expenses 1,350 242 (156)
Remeasurement (gains) losses of future policy benefit reserves (20) 1 (52)
Change in fair value of market risk benefits 798 311 (113)
Amortization of deferred acquisition costs 246 252 259
Interest and debt expense 324 198 191
General and administrative expense 3,871 3,723 3,435
Total benefits and expenses 12,301 10,327 9,192
Pretax income 3,234 3,931 4,185
Income tax provision 678 782 768
Net income $ 2,556 $ 3,149 [2] $ 3,417 [2]
Earnings per share      
Basic (in dollars per share) $ 24.18 $ 28.29 $ 29.13
Diluted (in dollars per share) $ 23.71 $ 27.70 $ 28.48
Management and financial advice fees      
Revenues      
Revenue from contracts with customers $ 8,907 $ 9,033 $ 9,275
Distribution fees      
Revenues      
Revenue from contracts with customers $ 1,931 $ 1,939 $ 1,828
[1] Certain prior period amounts have been restated. See Note 3 for more information.
[2] Certain prior period amounts have been restated. See Note 3 for more information.