2024 Q1 Form 10-K Financial Statement

#000168504024000007 Filed on February 22, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $74.00M $1.400B $4.117B
YoY Change -94.24% 208.37% -51.41%
Cost Of Revenue $968.0M $2.676B
YoY Change 40.9% -35.75%
Gross Profit -$894.0M $1.441B
YoY Change -249.75% -66.55%
Gross Profit Margin -1208.11% 35.0%
Selling, General & Admin -$938.0M $1.188B $318.0M
YoY Change -252.27% 132.94% -82.75%
% of Gross Profit 22.07%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $507.0M $2.535B $5.438B
YoY Change 6.07% 45.77% 160.82%
Operating Profit -$1.401B -$3.997B
YoY Change -1277.31% -279.8%
Interest Expense -$38.00M -$39.00M -$153.0M
YoY Change 0.0% 0.0% 0.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$614.0M -$1.174B -$1.474B
YoY Change -5.97% -11.33% 756.98%
Income Tax -$123.0M -$258.0M -$367.0M
% Of Pretax Income
Net Earnings -$493.0M -$942.0M -$1.214B
YoY Change -1.2% -2.59% -24380.0%
Net Earnings / Revenue -666.22% -67.29% -29.49%
Basic Earnings Per Share -$8.22 -$14.70 -$18.39
Diluted Earnings Per Share -$8.22 -$14.53 -$17.96
COMMON SHARES
Basic Shares Outstanding 62.88M shares 64.20M shares 66.01M shares
Diluted Shares Outstanding 63.04M shares 66.01M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $3.823B $3.851B $3.851B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $4.920B $4.946B $4.946B
YoY Change 2.44% 3.58% 3.58%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $111.8B $111.2B $111.2B
YoY Change 5.0% 2215.96% 7.08%
Other Assets $2.063B $1.893B $1.893B
YoY Change 23.31% 17.0% 17.0%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $239.7B $236.3B $236.3B
YoY Change 4.21% 4.77% 4.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $3.155B $3.156B $3.156B
YoY Change -0.06% 0.0% 0.0%
Other Long-Term Liabilities $18.09B $18.76B $18.76B
YoY Change 6.62% 165.9% 165.9%
Total Long-Term Liabilities $21.24B $21.92B $21.92B
YoY Change 5.57% 114.63% 114.63%
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities $21.24B $21.92B $21.92B
Total Liabilities $235.4B $231.4B $231.4B
YoY Change 5.02% 5.4% 5.37%
SHAREHOLDERS EQUITY
Retained Earnings -$2.000B -$1.507B
YoY Change 123.71% 136.58%
Common Stock $1.000M $1.000M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.382B $2.309B
YoY Change 12.41% 13.08%
Treasury Stock Shares
Shareholders Equity $4.195B $4.943B $4.943B
YoY Change
Total Liabilities & Shareholders Equity $239.7B $236.3B $236.3B
YoY Change 4.21% 4.77% 4.77%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$493.0M -$942.0M -$1.214B
YoY Change -1.2% -2.59% -24380.0%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$530.0M $152.0M -$137.0M
YoY Change 6.0% -171.7% -88.1%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$625.0M -$552.0M -$3.196B
YoY Change -52.83% -18.82% -61.38%
Cash From Investing Activities -$625.0M -$552.0M -$3.196B
YoY Change -52.83% -18.82% -61.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $2.000M
YoY Change -33.33%
Cash From Financing Activities $1.127B 412.0M $3.069B
YoY Change -19.21% 92.52% -66.16%
NET CHANGE
Cash From Operating Activities -$530.0M 152.0M -$137.0M
Cash From Investing Activities -$625.0M -552.0M -$3.196B
Cash From Financing Activities $1.127B 412.0M $3.069B
Net Change In Cash -$28.00M 12.00M -$264.0M
YoY Change -93.49% -101.77% -26.46%
FREE CASH FLOW
Cash From Operating Activities -$530.0M $152.0M -$137.0M
Capital Expenditures
Free Cash Flow
YoY Change

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CY2023 us-gaap Use Of Estimates
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<div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Basis of Presentation</span></div><div style="margin-top:6pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to adopt accounting policies and make estimates and assumptions that affect amounts reported on the consolidated financial statements. In applying these policies and estimates, management makes subjective and complex judgments that frequently require assumptions about matters that are inherently uncertain. Many of these policies, estimates and related judgments are common in the insurance and financial services industries; others are specific to the Company’s business and operations. Actual results could differ from these estimates.</span></div>
CY2023 us-gaap Derivatives Embedded Derivatives
DerivativesEmbeddedDerivatives
<div style="margin-top:6pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;text-decoration:underline">Embedded Derivatives on Index-Linked Annuities</span></div><div style="margin-top:6pt;padding-left:18pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company issues, and assumes through reinsurance, index-linked annuities which allow the policyholder to participate in returns from certain specified equity indices. The crediting rates associated with these features are classified as embedded derivatives and measured at estimated fair value, with changes in estimated fair value reported in net derivative gains (losses). These embedded derivatives are classified within policyholder account balances on the consolidated balance sheets.</span></div><div style="margin-top:6pt;padding-left:18pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Embedded derivative liabilities are required to be separated from the deferred annuity host contract and measured at fair value. The estimated fair value is determined using a combination of an option pricing model and an option-budget approach. Under this approach, the Company estimates the cost of funding the crediting rate using option pricing and establishes that cost on the balance sheet as a reduction to the initial deposit amount. The estimate of fair value includes an adjustment for nonperformance risk, as well as a risk margin.</span></div><div style="margin-top:6pt;padding-left:18pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Actuarial assumptions are reviewed at least annually, and if they change significantly, the estimated fair value is adjusted through net income. Capital market inputs used in the measurement of index-linked crediting rate embedded derivatives are updated quarterly through net income. The reduction to the initial deposit is accreted back up to the initial deposit over the estimated life of the contract. Embedded derivatives related to index-linked annuities are presented within policyholder account balances while changes in the estimated fair value are reported in net derivative gains (losses).</span></div><div style="margin-top:6pt;padding-left:18pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For more information on the determination of estimated fair value of embedded derivatives, see Note 11.</span></div>
CY2023 us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
4200000000 usd
CY2022 us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
4900000000 usd
CY2021 us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
6300000000 usd
CY2023 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
4200000000 usd
CY2022 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
4100000000 usd
CY2021 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
4900000000 usd
CY2022Q4 us-gaap Assets
Assets
224847000000 usd
CY2021Q4 us-gaap Assets
Assets
262257000000 usd
CY2022Q4 us-gaap Liability For Future Policy Benefit After Reinsurance
LiabilityForFuturePolicyBenefitAfterReinsurance
31497000000 usd
CY2021Q4 us-gaap Liability For Future Policy Benefit After Reinsurance
LiabilityForFuturePolicyBenefitAfterReinsurance
39990000000 usd
CY2022Q4 us-gaap Policyholder Contract Deposits
PolicyholderContractDeposits
73527000000 usd
CY2021Q4 us-gaap Policyholder Contract Deposits
PolicyholderContractDeposits
65249000000 usd
CY2022Q4 us-gaap Market Risk Benefit Liability Amount
MarketRiskBenefitLiabilityAmount
10389000000 usd
CY2021Q4 us-gaap Market Risk Benefit Liability Amount
MarketRiskBenefitLiabilityAmount
16034000000 usd
CY2022Q4 us-gaap Liabilities
Liabilities
219249000000 usd
CY2021Q4 us-gaap Liabilities
Liabilities
253807000000 usd
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-395000000 usd
CY2021Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-4274000000 usd
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
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CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
47000000 usd
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
5598000000 usd
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
8450000000 usd
CY2022Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
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CY2021Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
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CY2022 us-gaap Insurance Commissions And Fees
InsuranceCommissionsAndFees
2435000000 usd
CY2021 us-gaap Insurance Commissions And Fees
InsuranceCommissionsAndFees
2980000000 usd
CY2022 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-592000000 usd
CY2021 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
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CY2022 us-gaap Revenues
Revenues
6873000000 usd
CY2021 us-gaap Revenues
Revenues
4976000000 usd
CY2022 us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
2193000000 usd
CY2021 us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
2746000000 usd
CY2022 us-gaap Market Risk Benefit Change In Fair Value Gain Loss
MarketRiskBenefitChangeInFairValueGainLoss
4104000000 usd
CY2021 us-gaap Market Risk Benefit Change In Fair Value Gain Loss
MarketRiskBenefitChangeInFairValueGainLoss
4134000000 usd
CY2022 us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
2141000000 usd
CY2021 us-gaap Benefits Losses And Expenses
BenefitsLossesAndExpenses
2967000000 usd
CY2022 us-gaap Profit Loss
ProfitLoss
3884000000 usd
CY2021 us-gaap Profit Loss
ProfitLoss
1648000000 usd
CY2023 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segment
CY2023 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1214000000 usd
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
3775000000 usd
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1554000000 usd
CY2023 us-gaap Revenues
Revenues
4117000000 usd
CY2022 us-gaap Revenues
Revenues
6873000000 usd
CY2021 us-gaap Revenues
Revenues
4976000000 usd
CY2023Q4 us-gaap Assets
Assets
236340000000 usd
CY2022Q4 us-gaap Assets
Assets
224847000000 usd
CY2023 us-gaap Insurance Services Revenue
InsuranceServicesRevenue
3606000000 usd
CY2022 us-gaap Insurance Services Revenue
InsuranceServicesRevenue
3575000000 usd
CY2021 us-gaap Insurance Services Revenue
InsuranceServicesRevenue
4137000000 usd
CY2022 bhf Mean Reversion Rate
MeanReversionRate
0.0350
CY2023 bhf Mean Reversion Rate
MeanReversionRate
0.0375
CY2021 bhf Mean Reversion Rate
MeanReversionRate
0.0300
CY2022 bhf Mean Reversion Rate
MeanReversionRate
0.0350
CY2023Q4 us-gaap Liability For Future Policy Benefits
LiabilityForFuturePolicyBenefits
32569000000 usd
CY2022Q4 us-gaap Liability For Future Policy Benefits
LiabilityForFuturePolicyBenefits
31497000000 usd
CY2023Q4 us-gaap Policyholder Funds
PolicyholderFunds
81068000000 usd
CY2022Q4 us-gaap Policyholder Funds
PolicyholderFunds
73527000000 usd
CY2022Q4 bhf Outstanding Funding Agreements To Certain Special Purpose Entities
OutstandingFundingAgreementsToCertainSpecialPurposeEntities
5500000000 usd
CY2023Q4 bhf Outstanding Funding Agreements To Certain Special Purpose Entities
OutstandingFundingAgreementsToCertainSpecialPurposeEntities
5500000000 usd
CY2022Q4 bhf Outstanding Funding Agreements To Certain Special Purpose Entities Inactive Plan
OutstandingFundingAgreementsToCertainSpecialPurposeEntitiesInactivePlan
525000000 usd
CY2023Q4 bhf Outstanding Funding Agreements To Certain Special Purpose Entities Inactive Plan
OutstandingFundingAgreementsToCertainSpecialPurposeEntitiesInactivePlan
525000000 usd
CY2023Q4 bhf Variable Income Annuities
VariableIncomeAnnuities
179000000 usd
CY2022Q4 bhf Variable Income Annuities
VariableIncomeAnnuities
145000000 usd
CY2023Q4 bhf Pension Risk Transfer Annuities
PensionRiskTransferAnnuities
19000000 usd
CY2022Q4 bhf Pension Risk Transfer Annuities
PensionRiskTransferAnnuities
17000000 usd
CY2023Q4 us-gaap Separate Accounts Liability
SeparateAccountsLiability
88271000000 usd
CY2022Q4 us-gaap Separate Accounts Liability
SeparateAccountsLiability
84965000000 usd
CY2023Q4 us-gaap Separate Account Assets
SeparateAccountAssets
88271000000 usd
CY2022Q4 us-gaap Separate Account Assets
SeparateAccountAssets
84965000000 usd
CY2023 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
CY2023 us-gaap Reinsurance Retention Policy Excess Retention Percentage
ReinsuranceRetentionPolicyExcessRetentionPercentage
1
CY2023Q4 us-gaap Reinsurance Recoverables Allowance
ReinsuranceRecoverablesAllowance
3000000 usd
CY2022Q4 us-gaap Reinsurance Recoverables Allowance
ReinsuranceRecoverablesAllowance
10000000 usd
CY2023Q4 us-gaap Reinsurance Recoverables On Unpaid Losses Allowance
ReinsuranceRecoverablesOnUnpaidLossesAllowance
3000000 usd
CY2023 us-gaap Reinsurance Loss On Uncollectible Accounts In Period Amount
ReinsuranceLossOnUncollectibleAccountsInPeriodAmount
10000000 usd
CY2023Q4 bhf Reinsurance Recoverables Ceded
ReinsuranceRecoverablesCeded
18900000000 usd
CY2022Q4 bhf Reinsurance Recoverables Ceded
ReinsuranceRecoverablesCeded
17600000000 usd
CY2023 us-gaap Direct Premiums Earned
DirectPremiumsEarned
1499000000 usd
CY2022 us-gaap Direct Premiums Earned
DirectPremiumsEarned
1359000000 usd
CY2021 us-gaap Direct Premiums Earned
DirectPremiumsEarned
1440000000 usd
CY2023 us-gaap Assumed Premiums Earned
AssumedPremiumsEarned
14000000 usd
CY2022 us-gaap Assumed Premiums Earned
AssumedPremiumsEarned
6000000 usd
CY2021 us-gaap Assumed Premiums Earned
AssumedPremiumsEarned
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CY2023 us-gaap Ceded Premiums Earned
CededPremiumsEarned
685000000 usd
CY2022 us-gaap Ceded Premiums Earned
CededPremiumsEarned
703000000 usd
CY2021 us-gaap Ceded Premiums Earned
CededPremiumsEarned
721000000 usd
CY2023 us-gaap Premiums Earned Net
PremiumsEarnedNet
828000000 usd
CY2022 us-gaap Premiums Earned Net
PremiumsEarnedNet
662000000 usd
CY2021 us-gaap Premiums Earned Net
PremiumsEarnedNet
707000000 usd
CY2023 bhf Direct Insurance Commissions And Fees
DirectInsuranceCommissionsAndFees
2941000000 usd
CY2022 bhf Direct Insurance Commissions And Fees
DirectInsuranceCommissionsAndFees
3107000000 usd
CY2021 bhf Direct Insurance Commissions And Fees
DirectInsuranceCommissionsAndFees
3554000000 usd
CY2023 bhf Assumed Insurance Commissions And Fees
AssumedInsuranceCommissionsAndFees
49000000 usd
CY2022 bhf Assumed Insurance Commissions And Fees
AssumedInsuranceCommissionsAndFees
45000000 usd
CY2021 bhf Assumed Insurance Commissions And Fees
AssumedInsuranceCommissionsAndFees
41000000 usd
CY2023 bhf Ceded Insurance Commissions And Fees
CededInsuranceCommissionsAndFees
695000000 usd
CY2022 bhf Ceded Insurance Commissions And Fees
CededInsuranceCommissionsAndFees
717000000 usd
CY2021 bhf Ceded Insurance Commissions And Fees
CededInsuranceCommissionsAndFees
615000000 usd
CY2023 us-gaap Insurance Commissions And Fees
InsuranceCommissionsAndFees
2295000000 usd
CY2022 us-gaap Insurance Commissions And Fees
InsuranceCommissionsAndFees
2435000000 usd
CY2021 us-gaap Insurance Commissions And Fees
InsuranceCommissionsAndFees
2980000000 usd
CY2023 bhf Other Income Direct
OtherIncomeDirect
269000000 usd
CY2022 bhf Other Income Direct
OtherIncomeDirect
292000000 usd
CY2021 bhf Other Income Direct
OtherIncomeDirect
373000000 usd
CY2023 bhf Commissions Fees And Other Income Assumed
CommissionsFeesAndOtherIncomeAssumed
2000000 usd
CY2022 bhf Commissions Fees And Other Income Assumed
CommissionsFeesAndOtherIncomeAssumed
2000000 usd
CY2021 bhf Commissions Fees And Other Income Assumed
CommissionsFeesAndOtherIncomeAssumed
4000000 usd
CY2023 bhf Other Income Ceded
OtherIncomeCeded
212000000 usd
CY2022 bhf Other Income Ceded
OtherIncomeCeded
184000000 usd
CY2021 bhf Other Income Ceded
OtherIncomeCeded
73000000 usd
CY2023 us-gaap Other Income
OtherIncome
483000000 usd
CY2022 us-gaap Other Income
OtherIncome
478000000 usd
CY2021 us-gaap Other Income
OtherIncome
450000000 usd
CY2023 us-gaap Policyholder Benefits And Claims Incurred Gross
PolicyholderBenefitsAndClaimsIncurredGross
3946000000 usd
CY2022 us-gaap Policyholder Benefits And Claims Incurred Gross
PolicyholderBenefitsAndClaimsIncurredGross
3863000000 usd
CY2021 us-gaap Policyholder Benefits And Claims Incurred Gross
PolicyholderBenefitsAndClaimsIncurredGross
4197000000 usd
CY2023 us-gaap Reinsurance Effect On Claims And Benefits Incurred Amount Assumed
ReinsuranceEffectOnClaimsAndBenefitsIncurredAmountAssumed
84000000 usd
CY2022 us-gaap Reinsurance Effect On Claims And Benefits Incurred Amount Assumed
ReinsuranceEffectOnClaimsAndBenefitsIncurredAmountAssumed
112000000 usd
CY2021 us-gaap Reinsurance Effect On Claims And Benefits Incurred Amount Assumed
ReinsuranceEffectOnClaimsAndBenefitsIncurredAmountAssumed
85000000 usd
CY2023 us-gaap Reinsurance Effect On Claims And Benefits Incurred Amount Ceded
ReinsuranceEffectOnClaimsAndBenefitsIncurredAmountCeded
1354000000 usd
CY2022 us-gaap Reinsurance Effect On Claims And Benefits Incurred Amount Ceded
ReinsuranceEffectOnClaimsAndBenefitsIncurredAmountCeded
1782000000 usd
CY2021 us-gaap Reinsurance Effect On Claims And Benefits Incurred Amount Ceded
ReinsuranceEffectOnClaimsAndBenefitsIncurredAmountCeded
1536000000 usd
CY2023 us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
2676000000 usd
CY2022 us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
2193000000 usd
CY2021 us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
2746000000 usd
CY2023 bhf Market Risk Benefit Change In Fair Value Gain Loss Direct
MarketRiskBenefitChangeInFairValueGainLossDirect
1537000000 usd
CY2022 bhf Market Risk Benefit Change In Fair Value Gain Loss Direct
MarketRiskBenefitChangeInFairValueGainLossDirect
4154000000 usd
CY2021 bhf Market Risk Benefit Change In Fair Value Gain Loss Direct
MarketRiskBenefitChangeInFairValueGainLossDirect
4192000000 usd
CY2023 bhf Market Risk Benefit Change In Fair Value Gain Loss Assumed
MarketRiskBenefitChangeInFairValueGainLossAssumed
1000000 usd
CY2022 bhf Market Risk Benefit Change In Fair Value Gain Loss Assumed
MarketRiskBenefitChangeInFairValueGainLossAssumed
1000000 usd
CY2021 bhf Market Risk Benefit Change In Fair Value Gain Loss Assumed
MarketRiskBenefitChangeInFairValueGainLossAssumed
-1000000 usd
CY2023 bhf Market Risk Benefit Change In Fair Value Gain Loss Ceded
MarketRiskBenefitChangeInFairValueGainLossCeded
-31000000 usd
CY2022 bhf Market Risk Benefit Change In Fair Value Gain Loss Ceded
MarketRiskBenefitChangeInFairValueGainLossCeded
-51000000 usd
CY2021 bhf Market Risk Benefit Change In Fair Value Gain Loss Ceded
MarketRiskBenefitChangeInFairValueGainLossCeded
-57000000 usd
CY2023 us-gaap Market Risk Benefit Change In Fair Value Gain Loss
MarketRiskBenefitChangeInFairValueGainLoss
1507000000 usd
CY2022 us-gaap Market Risk Benefit Change In Fair Value Gain Loss
MarketRiskBenefitChangeInFairValueGainLoss
4104000000 usd
CY2021 us-gaap Market Risk Benefit Change In Fair Value Gain Loss
MarketRiskBenefitChangeInFairValueGainLoss
4134000000 usd
CY2023Q4 us-gaap Premiums And Other Receivables Net
PremiumsAndOtherReceivablesNet
19761000000 usd
CY2022Q4 us-gaap Premiums And Other Receivables Net
PremiumsAndOtherReceivablesNet
18548000000 usd
CY2023Q4 us-gaap Market Risk Benefit Asset Amount
MarketRiskBenefitAssetAmount
656000000 usd
CY2022Q4 us-gaap Market Risk Benefit Asset Amount
MarketRiskBenefitAssetAmount
483000000 usd
CY2023Q4 us-gaap Liability For Future Policy Benefit After Reinsurance
LiabilityForFuturePolicyBenefitAfterReinsurance
32569000000 usd
CY2022Q4 us-gaap Liability For Future Policy Benefit After Reinsurance
LiabilityForFuturePolicyBenefitAfterReinsurance
31497000000 usd
CY2023Q4 us-gaap Policyholder Contract Deposits
PolicyholderContractDeposits
81068000000 usd
CY2022Q4 us-gaap Policyholder Contract Deposits
PolicyholderContractDeposits
73527000000 usd
CY2023Q4 us-gaap Market Risk Benefit Liability Amount
MarketRiskBenefitLiabilityAmount
10323000000 usd
CY2022Q4 us-gaap Market Risk Benefit Liability Amount
MarketRiskBenefitLiabilityAmount
10389000000 usd
CY2023Q4 us-gaap Other Policyholder Funds
OtherPolicyholderFunds
3836000000 usd
CY2022Q4 us-gaap Other Policyholder Funds
OtherPolicyholderFunds
4098000000 usd
CY2023Q4 us-gaap Other Liabilities
OtherLiabilities
8439000000 usd
CY2022Q4 us-gaap Other Liabilities
OtherLiabilities
7057000000 usd
CY2023Q4 us-gaap Deposit Contracts Assets
DepositContractsAssets
7500000000 usd
CY2022Q4 us-gaap Deposit Contracts Assets
DepositContractsAssets
6000000000 usd
CY2023Q4 us-gaap Deposit Contracts Liabilities
DepositContractsLiabilities
3900000000 usd
CY2022Q4 us-gaap Deposit Contracts Liabilities
DepositContractsLiabilities
3800000000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
87131000000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
21000000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
1037000000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
7156000000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
80991000000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
84344000000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
7000000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
752000000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
9512000000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
75577000000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
2861000000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
17277000000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost
15153000000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities After Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost
30104000000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities Without Single Maturity Date Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateAmortizedCost
21736000000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
87131000000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
2826000000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
16809000000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
13910000000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue
27200000000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities Without Single Maturity Date Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateFairValue
20246000000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
80991000000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
8061000000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
585000000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
51758000000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
6571000000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
52375000000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
6644000000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
11944000000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
2868000000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsNumberOfPositions
1347
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
7038
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsNumberOfPositions
7309
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
2049
CY2023Q4 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
21000000 usd
CY2023Q4 bhf Debt Securities Available For Sale With Allowance For Credit Loss Number Of Positions
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CY2021Q4 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
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CY2023Q4 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
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CY2023 bhf Debt Securities Available For Sale Writeoff
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CY2022 bhf Debt Securities Available For Sale Writeoff
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CY2023 dei Document Fiscal Year Focus
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CY2023Q4 bhf Net Unrealized Investment Gains Losses Included In Accumulated Other Comprehensive Income Loss
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CY2022Q4 bhf Net Unrealized Investment Gains Losses Included In Accumulated Other Comprehensive Income Loss
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CY2021Q4 bhf Net Unrealized Investment Gains Losses Included In Accumulated Other Comprehensive Income Loss
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CY2021Q4 bhf Net Unrealized Investment Gains Losses Included In Accumulated Other Comprehensive Income Loss Attributable To Company
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CY2023 bhf Changes In Net Unrealized Investment Gains Losses Related To Insurance Liability Gain Loss Recognition
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CY2023 bhf Income Tax Expense On Change In Unrealized Gain Or Loss
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CY2022 bhf Income Tax Expense On Change In Unrealized Gain Or Loss
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CY2021 bhf Income Tax Expense On Change In Unrealized Gain Or Loss
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CY2023Q4 bhf Net Unrealized Investment Gains Losses Included In Accumulated Other Comprehensive Income Loss Attributable To Company
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CY2022Q4 bhf Net Unrealized Investment Gains Losses Included In Accumulated Other Comprehensive Income Loss Attributable To Company
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CY2022 bhf Changes In Net Unrealized Investment Gains Losses Attributable To Company
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CY2021 bhf Changes In Net Unrealized Investment Gains Losses Attributable To Company
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CY2022Q4 us-gaap Transfers Accounted For As Secured Borrowings Associated Liabilities Carrying Amount
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CY2023Q4 bhf Securities Lending Reinvestment Portfolio Estimated Fair Value
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CY2022Q4 bhf Securities Lending Reinvestment Portfolio Estimated Fair Value
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CY2023Q4 us-gaap Transfers Accounted For As Secured Borrowings Associated Liabilities Carrying Amount
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CY2022Q4 us-gaap Transfers Accounted For As Secured Borrowings Associated Liabilities Carrying Amount
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CY2023Q4 us-gaap Securities Loaned Not Subject To Master Netting Arrangement
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CY2023Q4 bhf Percentageof Reinvestment Portfolio Invested In Liquid Assets
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CY2023Q4 us-gaap Deposit Assets
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CY2022Q4 us-gaap Deposit Assets
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CY2023Q4 us-gaap Assets Held In Trust
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CY2022Q4 us-gaap Assets Held In Trust
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CY2023Q4 bhf Invested Assets Pledged As Collateral
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CY2022Q4 bhf Invested Assets Pledged As Collateral
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CY2023Q4 bhf Invested Assets On Deposit Held In Trust And Pledged As Collateral
InvestedAssetsOnDepositHeldInTrustAndPledgedAsCollateral
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CY2022Q4 bhf Invested Assets On Deposit Held In Trust And Pledged As Collateral
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CY2023Q4 us-gaap Equity Method Investments
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CY2023 us-gaap Gross Investment Income Operating
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CY2022 us-gaap Gross Investment Income Operating
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CY2021 us-gaap Gross Investment Income Operating
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CY2023 us-gaap Investment Income Investment Expense
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CY2022 us-gaap Investment Income Investment Expense
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252000000 usd
CY2021 us-gaap Investment Income Investment Expense
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CY2023 us-gaap Net Investment Income
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CY2022 us-gaap Net Investment Income
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CY2021 us-gaap Net Investment Income
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CY2023 us-gaap Realized Investment Gains Losses
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CY2022 us-gaap Realized Investment Gains Losses
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CY2021 us-gaap Realized Investment Gains Losses
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CY2021 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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CY2023 us-gaap Debt Securities Available For Sale Realized Loss
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CY2022Q4 bhf Derivative Aoci Associated With Cash Flow Hedges Pre Tax
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CY2023Q4 bhf Derivative Asset Collateral Obligation To Return Securities Offset
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CY2022Q4 us-gaap Derivative Fair Value Of Derivative Asset Amount Not Offset Against Collateral
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CY2022Q4 us-gaap Derivative Asset Not Offset Policy Election Deduction
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CY2022Q4 bhf Derivative Asset Collateral Obligation To Return Securities Offset
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CY2022Q4 us-gaap Derivative Liability Collateral Right To Reclaim Cash Offset
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CY2022Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
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CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
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CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
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CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
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CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
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CY2023 us-gaap Interest Expense Debt
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CY2022 us-gaap Interest Expense Debt
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CY2021 us-gaap Interest Expense Debt
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CY2021Q4 bhf Gain Loss On Repurchase Of Debt Instrument Principal
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CY2021Q4 us-gaap Write Off Of Deferred Debt Issuance Cost
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CY2023Q4 us-gaap Preferred Stock Shares Authorized
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CY2023Q4 us-gaap Preferred Stock Shares Issued
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CY2023Q4 us-gaap Preferred Stock Shares Outstanding
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CY2022Q4 us-gaap Preferred Stock Shares Authorized
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CY2022Q4 us-gaap Preferred Stock Shares Issued
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CY2022Q4 us-gaap Preferred Stock Shares Outstanding
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CY2023Q4 us-gaap Preferred Stock Liquidation Preference
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CY2023Q4 us-gaap Preferred Stock Liquidation Preference
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