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Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Investments and cash:    
Fixed maturity securities, available-for-sale $ 66,259 $ 73,290
Fixed maturity securities, held-to-maturity 15,685 [1] 17,819
Equity securities 728 1,088
Commercial mortgage and other loans 11,795 12,527
Other investments 7,102 4,530
Cash and cash equivalents 6,060 4,306
Total investments and cash 107,629 113,560
Receivables 880 848
Accrued investment income 726 731
Deferred policy acquisition costs 8,550 9,132
Property and equipment, at cost less accumulated depreciation 398 445
Other 1,985 2,008
Total assets 120,168 126,724 Close
Policy liabilities:    
Future policy benefits 70,339 83,718
Unpaid policy claims 359 261
Unearned premiums 1,216 1,451
Other policyholders’ funds 5,439 6,169
Total policy liabilities 77,353 91,599
Income taxes 752 154
Payables for return of cash collateral on loaned securities 4,493 1,503
Notes payable and lease obligations 7,430 7,364
Other 4,093 4,119
Total liabilities 94,121 104,739 Close
Commitments and contingent liabilities (Note 13)
Shareholders’ equity:    
Common stock of $.10 par value. In thousands: authorized 1,900,000 shares in 2024 and 2023; issued 1,356,618 shares in 2024 and 1,355,398 shares in 2023 136 136
Additional paid-in capital 2,835 2,771
Retained earnings 51,345 47,993
Accumulated other comprehensive income (loss):    
Unrealized foreign currency translation gains (losses) (5,091) (4,069)
Unrealized gains (losses) on fixed maturity securities 401 1,139
Unrealized gains (losses) on derivatives (22) (22)
Effect of changes in discount rate assumptions 1,425 (2,560)
Pension liability adjustment (5) (8)
Treasury stock, at average cost (24,977) (23,395)
Total shareholders’ equity 26,047 21,985 Close
Total liabilities and shareholders’ equity 120,168 126,724
Consolidated Entity Excluding Variable Interest Entities (VIE)    
Investments and cash:    
Fixed maturity securities, available-for-sale 62,582 69,578
Variable Interest Entity, Consolidated    
Investments and cash:    
Fixed maturity securities, available-for-sale 3,677 3,712
Commercial mortgage and other loans 9,454 10,150
Other investments [2] 2,571 2,381
Total assets 15,760 16,298
Policy liabilities:    
Total liabilities $ 700 $ 507
[1] Net of allowance for credit losses
[2] Consists entirely of alternative investments in limited partnerships