CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2025	Dec. 31, 2024
Investments:
Fixed maturity securities available for sale, at fair value, at September 30, 2025 and December 31, 2024, at an amortized cost of $54,005 and $49,729, respectively, net of allowance for credit losses of $96 and $62, respectively	$ 51,601	$ 46,317
Derivative investments	1,222	792
Mortgage loans, net of allowance for credit losses of $77 and $70, at September 30, 2025 and December 31, 2024, respectively	7,391	5,926
Investments in unconsolidated affiliates (certain investments at fair value of $270 and $$272, at September 30, 2025 and December 31, 2024, respectively)	4,731	3,565
Other long-term investments	1,022	580
Policy loans	136	104
Short-term investments	910	2,410
Total investments	67,365	60,109
Cash and cash equivalents	2,189	2,264
Reinsurance recoverable, net of allowance for credit losses of $18 and $20, at September 30, 2025 and December 31, 2024, respectively	16,843	13,369
Goodwill	2,180	2,179
Prepaid expenses and other assets (certain assets held at fair value of $18 and $$11, at September 30, 2025 and December 31, 2024, respectively)	1,042	950
Other intangible assets, net	6,097	5,572
Market risk benefits asset	242	189
Income taxes receivable	67	0
Deferred tax asset, net	112	299
Total assets	96,137	84,931
Liabilities:
Contractholder funds	61,798	56,404
Future policy benefits	10,055	8,749
Market risk benefits liability	830	549
Accounts payable and accrued liabilities	2,696	2,219
Income taxes payable	0	5
Notes payable	2,236	2,171
Funds withheld for reinsurance liabilities	13,582	10,758
Total liabilities	91,197	80,855
Equity:
Preferred stock $0.001 par value; authorized 25,000,000 shares and outstanding and issued 5,000,000 shares as of September 30, 2025 and December 31, 2024	0	0
Common stock, $0.001 par value; authorized 500,000,000 shares as of September 30, 2025 and December 31, 2024; outstanding of 134,625,415 and 126,792,844, respectively; and issued of 135,835,404 and 127,952,143, respectively	0	0
Additional paid-in-capital	3,755	3,464
Retained earnings	2,478	2,440
Accumulated other comprehensive (loss) income ("AOCI")	(1,376)	(1,923)
Treasury stock, at cost (1,209,989 and 1,159,299 shares, as of September 30, 2025 and December 31, 2024, respectively)	(33)	(30)
Total F&G Annuities & Life, Inc. shareholders' equity	4,824	3,951
Non-controlling interests	116	125
Total equity	4,940	4,076
Total liabilities and equity	96,137	84,931
Preferred Stock
Investments:
Preferred and equity securities, at fair value	248	270
Equity securities
Investments:
Preferred and equity securities, at fair value	$ 104	$ 145

F&G Annuities & Life, Inc. 10-Q