v3.25.4
Equity (Tables)
 12 Months Ended
Dec. 31, 2025
Stockholders' Equity Note [Abstract]  
Rollforward of Common Stock Outstanding
The following table presents a rollforward of outstanding shares:
Years Ended December 31,202520242023
(in millions)Common
Stock Issued		Treasury
Stock
Common Stock
Outstanding
Common
Stock Issued		Treasury
Stock		Common Stock
Outstanding		Common
Stock Issued		Treasury
Stock		Common Stock
Outstanding
Shares, beginning of year
1,906.7 (1,300.6)606.1 1,906.7 (1,217.9)688.8 1,906.7 (1,172.6)734.1 
Shares issued— 5.0 5.0 — 6.8 6.8 — 5.5 5.5 
Shares repurchased— (72.9)(72.9)— (89.5)(89.5)— (50.8)(50.8)
Shares, end of year1,906.7 (1,368.5)538.2 1,906.7 (1,300.6)606.1 1,906.7 (1,217.9)688.8 
Schedule of Accumulated Other Comprehensive Income (Loss)
The following table presents a rollforward of Accumulated other comprehensive income (loss):
(in millions)
Unrealized
Appreciation
(Depreciation)
of Fixed Maturity
Securities on Which
Allowance for Credit
Losses Was Taken
Unrealized
Appreciation
(Depreciation)
of All Other
Investments		Change in Fair
Value of Market
Risk Benefits
Attributable to
Changes in
Our Own
Credit Risk		Change in the
discount rates
used to measure
traditional and
limited payment
long-duration
insurance contracts		Foreign
Currency
Translation
Adjustments		Retirement
Plan
Liabilities
Adjustment		Total
Balance, January 1, 2023, net of tax$(136)$(20,675)$(284)$2,459 $(3,056)$(924)$(22,616)
Change in unrealized appreciation (depreciation) of investments*30 8,410 — — — — 8,440 
Change in other(10)52 — — — — 42 
Change in fair value of market risk benefits, net— — (695)— — — (695)
Change in discount rates— — — (1,045)— — (1,045)
Change in future policy benefits— (254)— — — — (254)
Change in foreign currency translation adjustments— — — — 137 — 137 
Change in net actuarial loss— — — — — 143 143 
Change in prior service cost— — — — — 4 4 
Change in deferred tax asset (liability)(6)(1,074)151 174 (35)(42)(832)
Total other comprehensive income14 7,134 (544)(871)102 105 5,940 
Add: Corebridge noncontrolling interests13 4,524 153 (732)(18)(2)3,938 
Less: Noncontrolling interests(3)1,871 (199)(377)7 — 1,299 
Balance, December 31, 2023, net of tax$(106)$(10,888)$(476)$1,233 $(2,979)$(821)$(14,037)
Change in unrealized appreciation (depreciation) of investments*95 (1,551)— — — — (1,456)
Change in other— 18 — — — — 18 
Change in fair value of market risk benefits, net— — 130 — — — 130 
Change in discount rates— — — 946 — — 946 
Change in future policy benefits— (59)— — — — (59)
Change in foreign currency translation adjustments— — — — (407)— (407)
Change in net actuarial loss— — — — — 63 63 
Change in prior service cost— — — — — 2 2 
Change in deferred tax asset (liability)
(20)(70)(28)(165)(45)(18)(346)
Corebridge deconsolidation, net of tax42 8,513 330 (1,583)(88)— 7,214 
Total other comprehensive income (loss)117 6,851 432 (802)(540)47 6,105 
Add: Corebridge noncontrolling interests2 610 33 (105)(3)— 537 
Less: Noncontrolling interests17 (559)(11)258 (1)— (296)
Balance, December 31, 2024, net of tax$(4)$(2,868)$— $68 $(3,521)$(774)$(7,099)
Change in unrealized appreciation (depreciation) of investments
— 1,448 — — — — 1,448 
Change in other— (1)— — — — (1)
Change in discount rates— — — 28 — — 28 
Change in future policy benefits— — — — — — — 
Change in foreign currency translation adjustments— — — — 518 — 518 
Change in net actuarial loss— — — — — 78 78 
Change in prior service cost
— — — — — 1 1 
Change in deferred tax asset (liability)1 48 — (9)22 (22)40 
Total other comprehensive income1 1,495 — 19 540 57 2,112 
Less: Noncontrolling interests— — — — — — — 
Balance, December 31, 2025, net of tax$(3)$(1,373)$— $87 $(2,981)$(717)$(4,987)
*Includes net unrealized gains and losses attributable to businesses held for sale or reclassified to discontinued operations at December 31, 2024 and 2023.
Schedule of Other Comprehensive Income (Loss) Reclassification Adjustments
The following table presents the other comprehensive income (loss) reclassification adjustments for the years ended December 31, 2025, 2024 and 2023, respectively:
(in millions)Unrealized
Appreciation
(Depreciation)
of Fixed Maturity
Securities on Which
Allowance for Credit
Losses Was Taken		Unrealized
Appreciation
(Depreciation)
of All Other
Investments		Change in Fair
Value of Market
Risk Benefits
Attributable to
Changes in Our
Own Credit Risk		Change in the
discount rates
used to measure
traditional and
limited payment
long-duration
insurance contracts		Foreign
Currency
Translation
Adjustments		Retirement
Plan
Liabilities
Adjustment		Total
Year Ended December 31, 2025
Unrealized change arising during year$— $854 $— $28 $518 $49 $1,449 
Less: Reclassification adjustments included in net income— (593)— — — (30)(623)
Total other comprehensive income (loss), before of income tax expense (benefit)— 1,447 — 28 518 79 2,072 
Less: Income tax expense (benefit)(1)(48)— 9 (22)22 (40)
Total other comprehensive income (loss), net of income tax expense (benefit)$1 $1,495 $— $19 $540 $57 $2,112 
Year Ended December 31, 2024
Unrealized change arising during year$95 $(2,211)$130 $946 $(407)$34 $(1,413)
Less: Reclassification adjustments included in net income(42)(9,132)(330)1,583 88 (31)(7,864)
Total other comprehensive income (loss), before income tax expense (benefit)137 6,921 460 (637)(495)65 6,451 
Less: Income tax expense (benefit)20 70 28 165 45 18 346 
Total other comprehensive income (loss), net of income tax expense (benefit)$117 $6,851 $432 $(802)$(540)$47 $6,105 
Year Ended December 31, 2023
Unrealized change arising during year$(6)$7,172 $(695)$(1,045)$137 $118 $5,681 
Less: Reclassification adjustments included in net income(26)(1,036)— — — (29)(1,091)
Total other comprehensive income (loss), before income tax expense (benefit)20 8,208 (695)(1,045)137 147 6,772 
Less: Income tax expense (benefit)6 1,074 (151)(174)35 42 832 
Total other comprehensive income (loss), net of income tax expense (benefit)$14 $7,134 $(544)$(871)$102 $105 $5,940 
Schedule of Effect of the Reclassification of Significant Items out of Accumulated Other Comprehensive Income on the Respective Line Items in the Consolidated Statements of Income
The following table presents the effect of the reclassification of significant items out of AOCI on the respective line items in the Consolidated Statements of Income (Loss)(a):
Amount Reclassified from AOCIAffected Line Item in the
Years Ended December 31,Consolidated
(in millions)202520242023Statements of Income (Loss)
Unrealized appreciation (depreciation) of fixed maturity securities on which allowance for credit losses was taken
Investments$— $— $(26)Net realized gains (losses)
Total— — (26)
Unrealized appreciation (depreciation) of all other investments
Investments(593)(619)(1,036)Net realized gains (losses)
Total(593)(619)(1,036)
Change in retirement plan liabilities adjustment
Prior-service credit(2)(2)(2)
(b)
Actuarial losses(28)(29)(27)
(b)
Total(30)(31)(29)
Corebridge deconsolidation, net of tax— (7,214)— 
(c)
Total reclassifications for the year$(623)$(7,864)$(1,091)
(a)The following items are not reclassified out of AOCI and included in the Consolidated Statements of Income (Loss) and thus have been excluded from the table: (i) Change in fair value of market risk benefits attributable to changes in our own credit risk and (ii) Change in the discount rates used to measure traditional and limited-payment long-duration insurance contracts.
(b)These AOCI components are included in the computation of net periodic pension cost. For additional information, see Note 20.
(c)Represents adjustments related to the deconsolidation of Corebridge which is reflected in Income (loss) from discontinued operations, net of taxes. See the rollforward of Accumulated other comprehensive income (loss) above for further details.