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CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Revenues    
Net investment income $ 901 $ 698
Premiums, policy and contract charges 390 362
Other revenues 129 131
Total revenues 4,325 3,845
Banking and deposit interest expense 179 103
Total net revenues 4,146 3,742
Benefits and expenses    
Distribution expenses 1,419 1,226
Interest credited to fixed accounts 132 164
Benefits, claims, losses and settlement expenses 295 301
Remeasurement (gains) losses of future policy benefit reserves (4) (5)
Change in fair value of market risk benefits (18) 489
Amortization of deferred acquisition costs 61 62
Interest and debt expense 82 72
General and administrative expense 960 937
Total benefits and expenses 2,927 3,246
Pretax income 1,219 496
Income tax provision 229 79
Net income $ 990 $ 417
Earnings per share    
Basic (in dollars per share) $ 9.63 $ 3.86
Diluted (in dollars per share) $ 9.46 $ 3.79
Management and financial advice fees    
Revenues    
Revenue from contracts with customers $ 2,399 $ 2,137
Distribution fees    
Revenues    
Revenue from contracts with customers $ 506 $ 517