2024 Q2 Form 10-Q Financial Statement

#000082002724000055 Filed on May 06, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $4.392B $4.325B
YoY Change 9.61% 12.48%
Cost Of Revenue $2.138B $2.025B
YoY Change 14.52% 12.88%
Gross Profit $2.254B $2.300B
YoY Change 5.33% 12.14%
Gross Profit Margin 51.32% 53.18%
Selling, General & Admin $957.0M $960.0M
YoY Change -1.03% 2.45%
% of Gross Profit 42.46% 41.74%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $1.010B $1.017B
YoY Change -1.75% 2.31%
Operating Profit $1.244B $1.283B
YoY Change 11.87% 21.38%
Interest Expense -$193.0M -$64.00M
YoY Change -1386.67% -88.59%
% of Operating Profit -15.51% -4.99%
Other Income/Expense, Net
YoY Change
Pretax Income $1.051B $1.219B
YoY Change -6.74% 145.77%
Income Tax $222.0M $229.0M
% Of Pretax Income 21.12% 18.79%
Net Earnings $829.0M $990.0M
YoY Change -6.85% 137.41%
Net Earnings / Revenue 18.88% 22.89%
Basic Earnings Per Share $8.16 $9.63
Diluted Earnings Per Share $8.02 $9.47
COMMON SHARES
Basic Shares Outstanding 99.32M shares 100.3M shares
Diluted Shares Outstanding 103.4M shares 104.6M shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.868B $7.206B
YoY Change 5.22% -15.7%
Cash & Equivalents $7.517B $7.071B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $14.82B $14.91B
Other Receivables $30.00M $25.00M
Total Short-Term Assets $22.72B $22.14B
YoY Change 0.67% -7.55%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $58.14B $58.28B
YoY Change 8.54% 14.49%
Other Assets $4.067B $4.292B
YoY Change -6.48% -9.41%
Total Long-Term Assets $157.0B $157.7B
YoY Change 6.63% 10.51%
TOTAL ASSETS
Total Short-Term Assets $22.72B $22.14B
Total Long-Term Assets $157.0B $157.7B
Total Assets $179.7B $179.8B
YoY Change 5.84% 7.92%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.386B $2.166B
YoY Change 8.7% 6.86%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $36.44B $37.18B
YoY Change 1.84% 8.9%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $38.82B $39.35B
YoY Change 2.24% 8.78%
LONG-TERM LIABILITIES
Long-Term Debt $5.782B $5.517B
YoY Change -0.67% -6.92%
Other Long-Term Liabilities $130.1B $130.1B
YoY Change 6.72% 8.05%
Total Long-Term Liabilities $135.9B $135.6B
YoY Change 6.39% 7.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $38.82B $39.35B
Total Long-Term Liabilities $135.9B $135.6B
Total Liabilities $174.7B $175.0B
YoY Change 5.44% 7.67%
SHAREHOLDERS EQUITY
Retained Earnings $23.43B $22.75B
YoY Change 11.89% 12.65%
Common Stock $9.990B $9.927B
YoY Change 3.28% 3.24%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.993B $4.879B
YoY Change
Total Liabilities & Shareholders Equity $179.7B $179.8B
YoY Change 5.84% 7.92%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $829.0M $990.0M
YoY Change -6.85% 137.41%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $1.720B $1.444B
YoY Change 206.6% 36.74%
INVESTING ACTIVITIES
Capital Expenditures $17.00M $52.00M
YoY Change -60.47% 26.83%
Acquisitions
YoY Change
Other Investing Activities $183.0M $9.000M
YoY Change -106.46% 80.0%
Cash From Investing Activities $166.0M -$569.0M
YoY Change -105.78% -81.91%
FINANCING ACTIVITIES
Cash Dividend Paid $138.0M
YoY Change 2.99%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $3.000M
YoY Change 50.0%
Cash From Financing Activities -1.103B -$1.431B
YoY Change -192.69% -145.26%
NET CHANGE
Cash From Operating Activities 1.720B $1.444B
Cash From Investing Activities 166.0M -$569.0M
Cash From Financing Activities -1.103B -$1.431B
Net Change In Cash 783.0M -$561.0M
YoY Change -169.72% -151.8%
FREE CASH FLOW
Cash From Operating Activities $1.720B $1.444B
Capital Expenditures $17.00M $52.00M
Free Cash Flow $1.703B $1.392B
YoY Change 228.76% 37.14%

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PaymentsToAcquireOtherInvestments
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CY2024Q1 amp Payment To Acquire Investments By Consolidated Investment Entities
PaymentToAcquireInvestmentsByConsolidatedInvestmentEntities
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CY2024Q1 amp Proceeds From Sales And Maturities Of Investments By Consolidated Investment Entities
ProceedsFromSalesAndMaturitiesOfInvestmentsByConsolidatedInvestmentEntities
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CY2023Q1 amp Proceeds From Sales And Maturities Of Investments By Consolidated Investment Entities
ProceedsFromSalesAndMaturitiesOfInvestmentsByConsolidatedInvestmentEntities
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CY2024Q1 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
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PaymentsToAcquireProductiveAssets
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PaymentsForDerivativeInstrumentInvestingActivities
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CY2024Q1 us-gaap Proceeds From Other Deposits
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CY2023Q1 amp Investment Certificates And Banking Time Deposits Proceeds From Additions
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CY2024Q1 amp Investment Certificates And Banking Time Deposits Maturities Withdrawals And Cash Surrenders
InvestmentCertificatesAndBankingTimeDepositsMaturitiesWithdrawalsAndCashSurrenders
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CY2024Q1 amp Policyholder And Contractholder Account Values Net Transfer From To Separate Accounts
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CY2024Q1 us-gaap Withdrawal From Contract Holders Funds
WithdrawalFromContractHoldersFunds
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CY2024Q1 us-gaap Proceeds From Derivative Instrument Financing Activities
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CY2023Q1 us-gaap Proceeds From Derivative Instrument Financing Activities
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CY2024Q1 us-gaap Proceeds From Issuance Of Long Term Debt And Capital Securities Net
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CY2023Q1 us-gaap Proceeds From Issuance Of Long Term Debt And Capital Securities Net
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CY2024Q1 us-gaap Repayments Of Long Term Debt
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CY2024Q1 us-gaap Payments Of Dividends
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CY2023Q1 us-gaap Payments Of Dividends
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CY2024Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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PaymentsForRepurchaseOfCommonStock
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CY2024Q1 amp Borrowings Of Consolidated Investment Entities
BorrowingsOfConsolidatedInvestmentEntities
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CY2023Q1 amp Borrowings Of Consolidated Investment Entities
BorrowingsOfConsolidatedInvestmentEntities
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CY2024Q1 amp Repayments Of Debt Of Consolidated Investment Entities
RepaymentsOfDebtOfConsolidatedInvestmentEntities
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CY2023Q1 amp Repayments Of Debt Of Consolidated Investment Entities
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CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2024Q1 us-gaap Income Taxes Paid Net
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CY2023Q1 us-gaap Income Taxes Paid Net
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CY2024Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2024Q1 us-gaap Cash And Securities Segregated Under Federal And Other Regulations
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CY2024Q1 us-gaap Restricted Investments
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CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2024Q1 us-gaap Revenues Net Of Interest Expense
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CY2023Q1 us-gaap Revenues Net Of Interest Expense
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CY2024Q1 us-gaap Contract With Customer Receivable After Allowance For Credit Loss
ContractWithCustomerReceivableAfterAllowanceForCreditLoss
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CY2023Q4 us-gaap Contract With Customer Receivable After Allowance For Credit Loss
ContractWithCustomerReceivableAfterAllowanceForCreditLoss
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CY2024Q1 amp Net Investment Income And Gain Loss On Investments
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CY2023Q1 amp Net Investment Income And Gain Loss On Investments
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CY2024Q1 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
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CY2023Q4 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
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CY2024Q1 us-gaap Financing Receivable Excluding Accrued Interest Credit Loss Expense Reversal
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CY2024Q1 us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Writeoff
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CY2024Q1 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
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CY2022Q4 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
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CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest Credit Loss Expense Reversal
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CY2023Q1 us-gaap Financing Receivable Excluding Accrued Interest Allowance For Credit Loss Writeoff
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CY2023Q1 us-gaap Financing Receivable Allowance For Credit Loss Excluding Accrued Interest
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CY2024Q1 us-gaap Funds Held Under Reinsurance Agreements Asset
FundsHeldUnderReinsuranceAgreementsAsset
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CY2023Q4 us-gaap Funds Held Under Reinsurance Agreements Asset
FundsHeldUnderReinsuranceAgreementsAsset
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CY2024Q1 us-gaap Financing Receivable Troubled Debt Restructuring Increase Decrease From Modification
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CY2023Q1 us-gaap Financing Receivable Troubled Debt Restructuring Increase Decrease From Modification
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CY2024Q1 us-gaap Deferred Sales Inducements Net
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PolicyholderFunds
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PolicyholderFunds
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LiabilityForFuturePolicyBenefitBeforeReinsuranceReserve
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CY2023Q4 amp Liability For Future Policy Benefit Before Reinsurance Reserve
LiabilityForFuturePolicyBenefitBeforeReinsuranceReserve
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CY2024Q1 amp Liability For Future Policy Benefit Before Reinsurance Deferred Profit Liability
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CY2023Q4 amp Liability For Future Policy Benefit Before Reinsurance Deferred Profit Liability
LiabilityForFuturePolicyBenefitBeforeReinsuranceDeferredProfitLiability
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CY2024Q1 amp Liability For Future Policy Benefit Before Reinsurance Additional Liabilities For Insurance Guarantees
LiabilityForFuturePolicyBenefitBeforeReinsuranceAdditionalLiabilitiesForInsuranceGuarantees
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CY2023Q4 amp Liability For Future Policy Benefit Before Reinsurance Additional Liabilities For Insurance Guarantees
LiabilityForFuturePolicyBenefitBeforeReinsuranceAdditionalLiabilitiesForInsuranceGuarantees
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CY2024Q1 amp Liability For Future Policy Benefit Before Reinsurance Other Insurance And Annuity Liabilities
LiabilityForFuturePolicyBenefitBeforeReinsuranceOtherInsuranceAndAnnuityLiabilities
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CY2023Q4 amp Liability For Future Policy Benefit Before Reinsurance Other Insurance And Annuity Liabilities
LiabilityForFuturePolicyBenefitBeforeReinsuranceOtherInsuranceAndAnnuityLiabilities
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CY2024Q1 us-gaap Liability For Future Policy Benefits
LiabilityForFuturePolicyBenefits
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CY2023Q4 us-gaap Liability For Future Policy Benefits
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CY2024Q1 us-gaap Liability For Claims And Claims Adjustment Expense
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LiabilityForClaimsAndClaimsAdjustmentExpense
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CY2024Q1 amp Policyholder Account Balance Liability For Future Policy Benefits And Unpaid Claims And Claims Adjustment Expense
PolicyholderAccountBalanceLiabilityForFuturePolicyBenefitsAndUnpaidClaimsAndClaimsAdjustmentExpense
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CY2023Q4 amp Policyholder Account Balance Liability For Future Policy Benefits And Unpaid Claims And Claims Adjustment Expense
PolicyholderAccountBalanceLiabilityForFuturePolicyBenefitsAndUnpaidClaimsAndClaimsAdjustmentExpense
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CY2023Q4 us-gaap Policyholder Funds
PolicyholderFunds
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CY2024Q1 us-gaap Policyholder Account Balance Policy Charge
PolicyholderAccountBalancePolicyCharge
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CY2024Q1 amp Policyholder Account Balance Surrender And Withdrawal Net Of Benefit Payment
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CY2024Q1 us-gaap Transfer To From Policyholder Account Balance To From Separate Account
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CY2024Q1 amp Policyholder Account Balance Other Variable Account Adjustments
PolicyholderAccountBalanceOtherVariableAccountAdjustments
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CY2024Q1 amp Policyholder Account Balance Interest Credited
PolicyholderAccountBalanceInterestCredited
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CY2024Q1 us-gaap Policyholder Funds
PolicyholderFunds
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PolicyholderFunds
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CY2023 us-gaap Policyholder Account Balance Issuance
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CY2023 us-gaap Policyholder Account Balance Policy Charge
PolicyholderAccountBalancePolicyCharge
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CY2023 amp Policyholder Account Balance Surrender And Withdrawal Net Of Benefit Payment
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CY2023 us-gaap Transfer To From Policyholder Account Balance To From Separate Account
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CY2023 amp Policyholder Account Balance Other Variable Account Adjustments
PolicyholderAccountBalanceOtherVariableAccountAdjustments
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CY2023 amp Policyholder Account Balance Interest Credited
PolicyholderAccountBalanceInterestCredited
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CY2023Q4 us-gaap Policyholder Funds
PolicyholderFunds
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CY2024Q1 amp Policyholder Account Balance Percentage Reset In Next12 Months
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1.000
CY2024Q1 amp Policyholder Account Balance Percentage Reset In12 Months To24 Months
PolicyholderAccountBalancePercentageResetIn12MonthsTo24Months
0
CY2024Q1 amp Policyholder Account Balance Percentage Reset In Greater Than24 Months
PolicyholderAccountBalancePercentageResetInGreaterThan24Months
0
CY2024Q1 amp Policyholder Account Balance Percentage
PolicyholderAccountBalancePercentage
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CY2023Q4 amp Policyholder Account Balance Percentage Reset In Next12 Months
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CY2023Q4 amp Policyholder Account Balance Percentage Reset In12 Months To24 Months
PolicyholderAccountBalancePercentageResetIn12MonthsTo24Months
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CY2023Q4 amp Policyholder Account Balance Percentage Reset In Greater Than24 Months
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CY2023Q4 amp Policyholder Account Balance Percentage
PolicyholderAccountBalancePercentage
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CY2023Q4 us-gaap Liability For Future Policy Benefit Expected Net Premium Before Reinsurance After Discount Rate Change
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CY2023Q4 us-gaap Liability For Future Policy Benefit Expected Net Premium Original Discount Rate Before Cash Flow And Reinsurance
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CY2023Q4 us-gaap Liability For Future Policy Benefit Expected Net Premium Cumulative Increase Decrease From Cash Flow Change
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CY2023Q4 us-gaap Liability For Future Policy Benefit Expected Net Premium Cumulative Increase Decrease Of Actual Variance From Expected Experience
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CY2024Q1 us-gaap Liability For Future Policy Benefit Expected Net Premium Issuance
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CY2024Q1 us-gaap Liability For Future Policy Benefit Expected Net Premium Interest Income
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CY2024Q1 us-gaap Liability For Future Policy Benefit Expected Net Premium Net Premium Collected
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CY2024Q1 us-gaap Liability For Future Policy Benefit Expected Net Premium Derecognition
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CY2024Q1 us-gaap Liability For Future Policy Benefit Expected Net Premium Original Discount Rate Before Cash Flow And Reinsurance
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CY2024Q1 us-gaap Aoci Liability For Future Policy Benefit Expected Net Premium Before Tax
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CY2024Q1 us-gaap Liability For Future Policy Benefit Expected Net Premium Before Reinsurance After Discount Rate Change
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CY2023Q4 us-gaap Liability For Future Policy Benefit Expected Future Policy Benefit Original Discount Rate Before Cash Flow And Reinsurance
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CY2023Q4 us-gaap Liability For Future Policy Benefit Expected Future Policy Benefit Cumulative Increase Decrease Of Actual Variance From Expected Experience
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CY2023Q4 us-gaap Liability For Future Policy Benefit Expected Future Benefit Original Discount Rate Before Reinsurance After Cash Flow Change
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CY2024Q1 us-gaap Liability For Future Policy Benefit Expected Future Policy Benefit Issuance
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CY2024Q1 us-gaap Liability For Future Policy Benefit Expected Future Policy Benefit Interest Expense
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CY2024Q1 us-gaap Liability For Future Policy Benefits Payment For Benefits
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CY2024Q1 us-gaap Liability For Future Policy Benefit Expected Future Policy Benefit Derecognition
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CY2024Q1 us-gaap Liability For Future Policy Benefit Expected Future Policy Benefit Original Discount Rate Before Cash Flow And Reinsurance
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CY2024Q1 us-gaap Aoci Liability For Future Policy Benefit Expected Future Policy Benefit Before Tax
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CY2024Q1 us-gaap Liability For Future Policy Benefit Expected Future Policy Benefit Before Reinsurance After Discount Rate Change
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CY2024Q1 amp Liability For Future Policy Benefit Adjustment Due To Reserve Flooring
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CY2024Q1 amp Liability For Future Policy Benefit Before Reinsurance Reserve
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CY2024Q1 us-gaap Liability For Future Policy Benefit Reinsurance Recoverable After Allowance
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CY2024Q1 us-gaap Liability For Future Policy Benefit After Reinsurance
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CY2024Q1 us-gaap Liability For Future Policy Benefit Expected Future Gross Premium Discounted Before Reinsurance
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CY2023 us-gaap Liability For Future Policy Benefit Expected Net Premium Interest Income
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CY2023 us-gaap Liability For Future Policy Benefit Expected Net Premium Net Premium Collected
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CY2023 us-gaap Liability For Future Policy Benefit Expected Net Premium Derecognition
LiabilityForFuturePolicyBenefitExpectedNetPremiumDerecognition
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CY2023Q4 us-gaap Liability For Future Policy Benefit Expected Net Premium Original Discount Rate Before Cash Flow And Reinsurance
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CY2023 us-gaap Additional Liability Long Duration Insurance Benefit Payment
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CY2023Q1 amp Market Risk Benefit Change In Unrealized Gains Losses
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CY2024Q1 us-gaap Derivative Fair Value Of Derivative Liability Amount Not Offset Against Collateral
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CY2024Q1 us-gaap Derivative Collateral Right To Reclaim Cash
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CY2024Q1 us-gaap Derivative Collateral Right To Reclaim Securities
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CY2024Q1 us-gaap Derivative Liability Fair Value Offset Against Collateral Net Of Not Subject To Master Netting Arrangement Policy Election
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CY2024Q1 us-gaap Securities Loaned
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CY2024Q1 us-gaap Securities Loaned Collateral Right To Reclaim Cash
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CY2024Q1 us-gaap Securities Loaned Collateral Right To Reclaim Securities
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