F&G Annuities & Life, Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), F&G Annuities & Life, Inc. reported revenue of $5.7B (-0.2% year on year) and net income of $271.0M (-57.8% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Life insurance premiums and other fees | $2.8B | $2.9B | $2.4B | $1.7B |
| Interest and investment income | $2.8B | $2.7B | $2.2B | $1.7B |
| Owned distribution revenues | $89.0M | $81.0M | — | — |
| Recognized gains and (losses), net | $10.0M | $84.0M | ($124.0M) | ($1.0B) |
| Total revenues | $5.7B | $5.7B | $4.5B | $2.3B |
| Benefits and other changes in policy reserves | $4.0B | $3.8B | $3.6B | $1.1B |
| Market risk benefit losses (gains) | $167.0M | ($25.0M) | $95.0M | — |
| Depreciation and amortization | $665.0M | $569.0M | $412.0M | $329.0M |
| Personnel costs | $293.0M | $296.0M | $232.0M | $157.0M |
| Other operating expenses | $156.0M | $203.0M | $146.0M | $102.0M |
| Interest expense | $164.0M | $132.0M | $97.0M | $29.0M |
| Total benefits and expenses | $5.4B | $5.0B | $4.5B | — |
| Earnings (loss) before income taxes | $323.0M | $778.0M | ($35.0M) | $481.0M |
| Income tax expense | $52.0M | $136.0M | $23.0M | $117.0M |
| Net earnings (loss) | $271.0M | $642.0M | — | — |
| Less: Non-controlling interests | $6.0M | $3.0M | — | — |
| Net earnings (loss) | $265.0M | $639.0M | ($58.0M) | $481.0M |
| Less: Preferred stock dividend | $17.0M | $17.0M | — | $0 |
| Net earnings (loss) attributable to F&G common shareholders | $248.0M | $622.0M | — | $481.0M |
| Net earnings (loss) per share attributable to F&G common shareholders, basic (in usd per share) | $1.89 | $4.98 | -$0.47 | $4.18 |
| Net earnings (loss) per share attributable to F&G common shareholders, diluted (in usd per share) | $1.88 | $4.88 | -$0.47 | $4.18 |
| Weighted average shares outstanding F&G common stock, basic basis (in shares) | 131.0M | 125.0M | 124.0M | 115.0M |
| Weighted average shares outstanding F&G common stock, diluted basis (in shares) | 132.0M | 131.0M | 124.0M | 115.0M |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Life insurance premiums and other fees | $394.0M | $479.0M | $711.0M | $608.0M |
| Interest and investment income | $718.0M | $723.0M | $748.0M | $682.0M |
| Owned distribution revenues | $19.0M | $17.0M | $24.0M | $23.0M |
| Recognized gains and (losses), net | $290.0M | ($32.0M) | $211.0M | $51.0M |
| Total revenues | $1.4B | $1.2B | $1.7B | $1.4B |
| Benefits and other changes in policy reserves remeasurement (losses) gains | $1.1B | $484.0M | $1.2B | $993.0M |
| Market risk benefit losses (gains) | $32.0M | $73.0M | $43.0M | ($4.0M) |
| Depreciation and amortization | $175.0M | $173.0M | $180.0M | $158.0M |
| Personnel costs | $77.0M | $60.0M | $79.0M | $77.0M |
| Other operating expenses | $41.0M | $33.0M | $38.0M | $42.0M |
| Interest expense | $41.0M | $41.0M | $42.0M | $41.0M |
| Total benefits and expenses | $1.5B | $864.0M | $1.6B | $1.3B |
| Earnings (loss) before income taxes | ($94.0M) | $323.0M | $131.0M | $57.0M |
| Income tax (benefit) expense | ($19.0M) | $74.0M | $11.0M | $15.0M |
| Net earnings (loss) | ($75.0M) | $249.0M | $120.0M | $42.0M |
| Less: Non-controlling interests | $1.0M | $1.0M | $2.0M | $2.0M |
| Net earnings (loss) attributable to F&G | ($76.0M) | $248.0M | $118.0M | $40.0M |
| Less: Preferred stock dividend | $5.0M | $4.0M | $4.0M | $5.0M |
| Net earnings (loss) attributable to F&G common shareholders | ($81.0M) | $244.0M | $114.0M | $35.0M |
| Net earnings (loss) per share attributable to F&G common shareholders, basic (in usd per share) | -$0.62 | $1.83 | $0.86 | $0.26 |
| Net earnings (loss) per share attributable to F&G common shareholders, diluted (in usd per share) | -$0.62 | $1.78 | $0.85 | $0.26 |
| Weighted average shares outstanding F&G common stock, basic basis (in shares) | 130.0M | 133.0M | 133.0M | 133.0M |
| Weighted average shares outstanding F&G common stock, diluted basis (in shares) | 130.0M | 139.0M | 139.0M | 134.0M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Fixed maturity securities available for sale, at fair value, at December 31, 2025 and 2024, at an amortized cost of $55,292 and $49,729, respectively, net of allowance for credit losses of $104 and $62, respectively | $52.7B | $46.3B | $40.4B | $31.2B |
| Equity securities, at fair value | $341.0M | $415.0M | $606.0M | $823.0M |
| Derivative investments | $1.1B | $792.0M | $797.0M | $244.0M |
| Mortgage loans, net of allowance for credit losses of $86 and $70 at December 31, 2025 and 2024, respectively | $7.9B | $5.9B | $5.3B | — |
| Investments in unconsolidated affiliates (2025 includes $262 related to investments held by consolidated variable interest entities (“VIEs”) and 2025 and 2024 include certain investments at fair value of $270 and $272, respectively) | $4.9B | $3.6B | $3.1B | $2.4B |
| Other long-term investments (2025 includes $248 related to investments held by consolidated VIEs) | $1.3B | $580.0M | $608.0M | $565.0M |
| Policy loans | $147.0M | $104.0M | — | — |
| Short-term investments (2025 includes $116 related to investments held by consolidated VIEs) | $1.0B | $2.4B | $1.5B | $1.6B |
| Total investments | $69.4B | $60.1B | $52.3B | $41.4B |
| Cash and cash equivalents (2025 includes $2 related to investments held by consolidated VIEs) | $1.5B | $2.3B | $1.6B | $960.0M |
| Reinsurance recoverable, net of allowance for credit losses of $18 and $20 at December 31, 2025 and 2024, respectively | $17.5B | $13.4B | $9.0B | $5.6B |
| Goodwill | $2.2B | $2.2B | $1.7B | $1.8B |
| Prepaid expenses and other assets (certain assets held at fair value of $24 and $11 at December 31, 2025 and 2024, respectively) | $1.1B | $1.1B | $931.0M | $917.0M |
| Other intangible assets, net | $6.3B | $5.6B | $4.2B | $3.7B |
| Market risk benefits asset | $285.0M | $189.0M | $88.0M | — |
| Income taxes receivable | $83.0M | $0 | $27.0M | $28.0M |
| Deferred tax asset, net | $82.0M | $299.0M | $388.0M | $764.0M |
| Total assets | $98.4B | $85.0B | $70.2B | $55.1B |
| Contractholder funds | $62.7B | $56.4B | $48.8B | $41.2B |
| Future policy benefits | $10.8B | $8.7B | $7.0B | $5.9B |
| Market risk benefits liability | $903.0M | $549.0M | $403.0M | — |
| Accounts payable and accrued liabilities | $2.7B | $2.2B | $2.0B | $1.3B |
| Income taxes payable | $0 | $5.0M | — | — |
| Notes payable | $2.2B | $2.2B | $1.8B | $1.1B |
| Funds withheld for reinsurance liabilities | $14.2B | $10.9B | $7.1B | $3.7B |
| Total liabilities | $93.5B | $81.0B | $67.1B | $53.3B |
| Preferred stock $0.001 par value; authorized 25,000,000 shares; outstanding and issued 5,000,000 as of December 31, 2025 and 2024 | 0 | 0 | — | — |
| F&G common stock, $0.001 par value; authorized 500,000,000 shares as of December 31, 2025 and 2024; outstanding of 135,610,292 and 126,792,844, respectively, and issued of 137,056,106 and 127,952,143, respectively | 0 | 0 | 0 | 0 |
| Additional paid-in-capital | $3.8B | $3.5B | $3.2B | $3.2B |
| Retained earnings | $2.6B | $2.4B | $1.9B | $1.5B |
| Accumulated other comprehensive income (loss) ("AOCI") | ($1.5B) | ($1.9B) | ($2.0B) | ($2.8B) |
| Treasury stock, at cost (1,445,814 shares and 1,159,299 shares as of December 31, 2025 and 2024, respectively) | -40.0M | -30.0M | -18.0M | — |
| Total F&G Annuities & Life, Inc. shareholders' equity | $4.8B | $4.0B | $3.1B | $1.8B |
| Non-controlling interests | $113.0M | $125.0M | — | — |
| Total equity | $4.9B | $4.1B | — | — |
| Total liabilities and equity | $98.4B | $85.0B | $70.2B | $55.1B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Fixed maturity securities available for sale, at fair value, net of allowance for credit losses of $71 in 2026 and $104 in 2025 (amortized cost: $55,206 in 2026 and $55,292 in 2025) | $52.2B | $52.4B | $51.6B | $50.2B |
| Fixed maturity securities, at fair value under fair value option (related to investments held by consolidated variable interest entities (“VIEs”)) | $94.0M | $93.0M | — | — |
| Equity securities, at fair value | $293.0M | $336.0M | $352.0M | $341.0M |
| Derivative investments | $1.3B | $889.0M | $1.2B | $931.0M |
| Mortgage loans, net of allowance for credit losses of $108 in 2026 and $86 in 2025 | $9.3B | $8.5B | $7.4B | $6.9B |
| Investments in unconsolidated affiliates (2026 and 2025 include $277 and $262 related to investments held by consolidated VIEs and 2026 and 2025 include certain investments at fair value of $267 and $270) | $5.1B | $5.0B | $4.7B | $4.3B |
| Other long-term investments (2026 and 2025 include $264 and $248 related to investments held by consolidated VIEs) | $1.3B | $1.3B | $1.0B | $998.0M |
| Policy loans | $171.0M | $157.0M | $136.0M | $125.0M |
| Short-term investments (2026 and 2025 include $34 and $116 related to investments held by consolidated VIEs) | $545.0M | $992.0M | $910.0M | $760.0M |
| Total investments | $70.3B | $69.6B | $67.4B | $64.6B |
| Cash and cash equivalents (2026 and 2025 include $0 and $2 related to investments held by consolidated VIEs) | $2.1B | $1.3B | $2.2B | $1.9B |
| Reinsurance recoverable, net of allowance for credit losses of $19 in 2026 and $18 in 2025 | $20.9B | $20.0B | $16.8B | $15.8B |
| Goodwill | $2.1B | $2.1B | $2.2B | $2.2B |
| Prepaid expenses and other assets (certain assets held at fair value of $0 in 2026 and $24 in 2025) | $1.1B | $1.1B | $1.0B | $967.0M |
| Other intangible assets, net | $6.5B | $6.4B | $6.1B | $5.9B |
| Market risk benefits asset | $364.0M | $308.0M | $242.0M | $213.0M |
| Income taxes receivable | $81.0M | $78.0M | $67.0M | $6.0M |
| Deferred tax asset, net | $85.0M | $97.0M | $112.0M | $258.0M |
| Total assets | $103.6B | $101.0B | $96.1B | $91.8B |
| Contractholder funds | $64.4B | $63.5B | $61.8B | $59.8B |
| Future policy benefits | $10.9B | $10.7B | $10.1B | $9.5B |
| Market risk benefits liability | $1.1B | $968.0M | $830.0M | $711.0M |
| Accounts payable and accrued liabilities | $2.8B | $2.4B | $2.7B | $2.6B |
| Notes payable | $2.2B | $2.2B | $2.2B | $2.2B |
| Funds withheld for reinsurance liabilities | $17.5B | $16.5B | $13.6B | $12.5B |
| Total liabilities | $98.9B | $96.3B | $91.2B | $87.3B |
| Preferred stock $0.001 par value; 2026 and 2025 shares authorized 25,000,000: outstanding and issued 5,000,000 | 0 | 0 | 0 | 0 |
| Common stock, $0.001 par value; 2026 and 2025 shares authorized 500,000,000; outstanding of 130,940,695 and 135,610,292; and issued of 137,004,894 and 137,056,106 | 0 | 0 | 0 | 0 |
| Additional paid-in-capital | $3.8B | $3.8B | $3.8B | $3.7B |
| Retained earnings | $2.7B | $2.8B | $2.5B | $2.4B |
| Accumulated other comprehensive income (loss) ("AOCI") | ($1.7B) | ($1.8B) | ($1.4B) | ($1.7B) |
| Treasury stock, at cost (6,064,199 shares and 1,445,814 shares as of June 30, 2026 and December 31, 2025, respectively) | -163.0M | -69.0M | -33.0M | -33.0M |
| Total F&G Annuities & Life, Inc. shareholders' equity | $4.6B | $4.6B | $4.8B | $4.4B |
| Non-controlling interests | $85.0M | $110.0M | $116.0M | $119.0M |
| Total equity | $4.7B | $4.7B | $4.9B | $4.6B |
| Total liabilities and equity | $103.6B | $101.0B | $96.1B | $91.8B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net earnings (loss) | $271.0M | $642.0M | ($58.0M) | $481.0M |
| Depreciation and amortization | $665.0M | $569.0M | $412.0M | $329.0M |
| (Gain) loss on sales of investments and other assets and asset impairments, net | $128.0M | ($210.0M) | $461.0M | $436.0M |
| Interest credited/index credits to contractholder account balances | $202.0M | $1.3B | $1.4B | ($542.0M) |
| Change in market risk benefits, net | $167.0M | ($25.0M) | $95.0M | — |
| Deferred policy acquisition costs and deferred sales inducements | ($1.3B) | ($1.4B) | ($1.1B) | ($814.0M) |
| Charges assessed to contractholders for mortality and administration | ($330.0M) | ($291.0M) | ($255.0M) | ($212.0M) |
| Distributions from unconsolidated affiliates, return on investment | $176.0M | $108.0M | $104.0M | $119.0M |
| Stock-based compensation cost | $31.0M | $29.0M | $23.0M | $12.0M |
| Change in NAV of limited partnerships, net | ($349.0M) | ($350.0M) | ($220.0M) | ($109.0M) |
| Change in valuation of derivatives, equity and preferred securities and other assets, net | ($144.0M) | $60.0M | ($347.0M) | $561.0M |
| Change in reinsurance recoverable | ($5.0M) | ($19.0M) | $94.0M | $21.0M |
| Change in derivative collateral liabilities | $249.0M | $91.0M | — | — |
| Change in future policy benefits | $1.7B | $1.9B | $1.3B | $1.2B |
| Change in funds withheld from reinsurers | $3.3B | $3.8B | $3.4B | $2.1B |
| Net change in income taxes | $22.0M | $103.0M | ($4.0M) | $170.0M |
| Net change in other assets and other liabilities | ($103.0M) | ($264.0M) | $491.0M | ($528.0M) |
| Net cash provided by operating activities | $4.7B | $6.0B | $5.8B | $3.2B |
| Proceeds from sales, calls and maturities of investments | $14.3B | $11.3B | $5.3B | $5.4B |
| Additions to property and equipment and capitalized software | ($15.0M) | ($24.0M) | ($27.0M) | ($32.0M) |
| Purchases of investment securities | ($22.5B) | ($16.9B) | ($13.3B) | ($12.4B) |
| Net proceeds from sales, maturities and purchases of short-term investment securities | $1.5B | ($1.1B) | ($28.0M) | ($1.7B) |
| Other acquisitions/disposals, net of cash acquired | $0 | ($482.0M) | $0 | $0 |
| Additional investments in unconsolidated affiliates | ($2.4B) | ($1.1B) | ($1.1B) | ($982.0M) |
| Net increase in policy loans | ($43.0M) | ($33.0M) | — | — |
| Distributions from unconsolidated affiliates, return of investment | $694.0M | $478.0M | $340.0M | $313.0M |
| Net change in notes receivable | ($10.0M) | ($13.0M) | — | — |
| Net cash used in investing activities | ($8.4B) | ($8.0B) | ($8.9B) | ($9.4B) |
| Borrowings | $375.0M | $1.1B | $845.0M | $550.0M |
| Debt issuance costs | ($11.0M) | ($20.0M) | ($16.0M) | ($4.0M) |
| Payment of contingent consideration for acquisitions | ($10.0M) | — | — | — |
| Net revolving credit facility (repayments) borrowings | $0 | ($365.0M) | ($185.0M) | — |
| Repayments of outstanding debt | ($300.0M) | ($250.0M) | — | — |
| Dividends paid | ($137.0M) | ($121.0M) | ($101.0M) | — |
| Dividends and distributions paid to non-controlling interest shareholders | ($18.0M) | ($14.0M) | — | — |
| Purchases of treasury stock | ($10.0M) | ($12.0M) | ($18.0M) | — |
| Issuance of preferred stock | $0 | $250.0M | — | — |
| Issuance of common stock | $269.0M | — | — | — |
| Contractholder account deposits | $11.6B | $10.1B | $7.8B | $8.5B |
| Contractholder account withdrawals | ($8.8B) | ($8.0B) | ($4.6B) | ($3.5B) |
| Net cash provided by (used in) financing activities | $3.0B | $2.7B | $3.7B | $5.6B |
| Net (decrease) increase in cash and cash equivalents | ($778.0M) | $701.0M | $603.0M | ($573.0M) |
| Cash and cash equivalents at beginning of period | $2.3B | $1.6B | $960.0M | $1.5B |
| Cash and cash equivalents at end of period | $1.5B | $2.3B | $1.6B | $960.0M |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net earnings | $174.0M | $249.0M | $141.0M | $21.0M |
| Depreciation and amortization | $348.0M | $173.0M | $491.0M | $311.0M |
| (Gain) loss on sales of investments and other assets and asset impairments, net | $42.0M | $30.0M | $176.0M | $117.0M |
| (Gain) on sale of F&G Life Re | ($14.0M) | ($14.0M) | — | — |
| Interest credited/index credits to contractholder account balances | $907.0M | $49.0M | $337.0M | $608.0M |
| Change in market risk benefits, net | $105.0M | $73.0M | $148.0M | $105.0M |
| Deferred policy acquisition costs and deferred sales inducements | ($576.0M) | ($284.0M) | ($956.0M) | ($645.0M) |
| Charges assessed to contractholders for mortality and administration | ($161.0M) | ($115.0M) | ($248.0M) | ($165.0M) |
| Distributions from unconsolidated affiliates, return on investment | $66.0M | $31.0M | $120.0M | $85.0M |
| Stock-based compensation cost | $17.0M | $9.0M | $22.0M | $14.0M |
| Change in NAV of limited partnerships, net | ($194.0M) | ($106.0M) | ($231.0M) | ($126.0M) |
| Change in valuation of derivatives, equity and preferred securities and other assets, net | ($286.0M) | $16.0M | ($179.0M) | $95.0M |
| Change in reinsurance recoverable | $18.0M | $11.0M | $3.0M | ($5.0M) |
| Change in derivative collateral liabilities | ($77.0M) | ($396.0M) | $144.0M | $95.0M |
| Change in future policy benefits | $295.0M | $197.0M | $978.0M | $548.0M |
| Change in funds withheld from reinsurers | $1.6B | $787.0M | $2.6B | $1.6B |
| Net change in income taxes | $31.0M | $68.0M | ($21.0M) | ($33.0M) |
| Net change in other assets and other liabilities | ($89.0M) | ($35.0M) | ($60.0M) | ($56.0M) |
| Net cash provided by operating activities | $2.2B | $743.0M | $3.5B | $2.6B |
| Proceeds from sales, calls and maturities of investments | $10.3B | $2.8B | $9.6B | $6.1B |
| Additions to property and equipment and capitalized software | ($4.0M) | ($2.0M) | ($12.0M) | ($9.0M) |
| Purchases of investment securities | ($11.5B) | ($3.8B) | ($16.1B) | ($11.3B) |
| Net proceeds from sales, maturities and purchases of short-term investment securities | $499.0M | $52.0M | $1.7B | $1.8B |
| Other acquisitions/disposals, net of cash acquired | $88.0M | $88.0M | $0 | $0 |
| Additional investments in unconsolidated affiliates | ($527.0M) | ($263.0M) | ($1.6B) | ($1.1B) |
| Net increase in policy loans | ($24.0M) | ($10.0M) | ($32.0M) | ($21.0M) |
| Distributions from unconsolidated affiliates, return of investment | $343.0M | $122.0M | $330.0M | $180.0M |
| Net change in notes receivable | ($12.0M) | $0 | ($6.0M) | ($6.0M) |
| Net cash used in investing activities | ($831.0M) | ($939.0M) | ($6.1B) | ($4.3B) |
| Borrowings | $0 | $0 | $375.0M | $375.0M |
| Debt issuance costs | $0 | $0 | ($11.0M) | ($11.0M) |
| Payment of contingent consideration for acquisitions | ($7.0M) | ($7.0M) | ($10.0M) | ($10.0M) |
| Repayments of outstanding debt | $0 | $0 | ($300.0M) | ($300.0M) |
| Dividends paid | ($75.0M) | ($38.0M) | ($98.0M) | ($65.0M) |
| Dividends and distributions paid to non-controlling interest shareholders | ($10.0M) | ($4.0M) | ($13.0M) | ($8.0M) |
| Purchases of treasury stock | ($123.0M) | ($29.0M) | ($3.0M) | ($3.0M) |
| Issuance of common stock | $0 | $0 | $269.0M | $269.0M |
| Contractholder account deposits | $4.4B | $2.7B | $9.0B | $5.5B |
| Contractholder account withdrawals | ($5.0B) | ($2.6B) | ($6.6B) | ($4.4B) |
| Net cash (used in) provided by financing activities | ($782.0M) | $34.0M | $2.6B | $1.3B |
| Net increase (decrease) in cash and cash equivalents | $617.0M | ($162.0M) | ($75.0M) | ($380.0M) |
| Cash and cash equivalents at beginning of period | $1.5B | $1.5B | $2.3B | $2.3B |
| Cash and cash equivalents at end of period | $2.1B | $1.3B | $2.2B | $1.9B |
F&G Annuities & Life, Inc. score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.