Athene Holding Ltd.
For the period ended Sep 30, 2026. Filed Nov 5, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Nov 5, 2026
ATHS$23.15-1.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Cash Flows (unaudited)
| Nine months ended September 30, | ||
|---|---|---|
| (In millions) | 2026 | 2025 |
| Cash flows from operating activities | ||
| Net income (loss) | $(1,115) | $3,323 |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
| Amortization of deferred acquisition costs, deferred sales inducements and value of business acquired | 1,163 | 914 |
| Net accretion of net investment premiums, discounts and other | (160) | (135) |
| Net investment income (related party: 2026 – $(14) and 2025 – $(231)) | (443) | (183) |
| Net recognized (gains) losses on investments and derivatives (related party: 2026 – $(1,506) and 2025 – $(2,066)) | 146 | (2,669) |
| Policy acquisition costs deferred | (1,446) | (1,493) |
| Changes in operating assets and liabilities: | ||
| Accrued investment income | (1,249) | (919) |
| Interest sensitive contract liabilities | 6,865 | 5,867 |
| Future policy benefits, market risk benefits and reinsurance recoverable (related party: 2026 – $(275) and 2025 – $(199)) | (1,970) | (1,520) |
| Funds withheld assets (related party: 2026 – $81 and 2025 – $(215)) | 86 | (1,346) |
| Other assets and liabilities | 1,581 | 279 |
| Net cash provided by operating activities | 3,458 | 2,118 |
| Cash flows from investing activities | ||
| Sales, maturities and repayments of: | ||
| Available-for-sale securities (related party: 2026 – $7,896 and 2025 – $4,251) | 46,713 | 43,678 |
| Trading securities (related party: 2026 – $758 and 2025 – $330) | 3,757 | 1,784 |
| Equity securities | 319 | 459 |
| Mortgage loans (related party: 2026 – $235 and 2025 – $484) | 14,881 | 9,882 |
| Investment funds (related party: 2026 – $6,091 and 2025 – $344) | 6,220 | 845 |
| Derivative instruments and other investments | 4,260 | 2,658 |
| Short-term investments (related party: 2026 – $31 and 2025 – $967) | 191 | 1,378 |
| Purchases of: | ||
| Available-for-sale securities (related party: 2026 – $(19,977) and 2025 – $(9,160)) | (77,173) | (71,351) |
| Trading securities (related party: 2026 – $(1,045) and 2025 – $(405)) | (3,281) | (5,389) |
| Equity securities | (109) | (376) |
| Mortgage loans (related party: 2026 – $(311) and 2025 – $(54)) | (25,846) | (25,977) |
| Investment funds (related party: 2026 – $(10,340) and 2025 – $(2,127)) | (10,627) | (2,137) |
| Derivative instruments and other investments | (3,173) | (4,973) |
| Short-term investments (related party: 2026 – $(13) and 2025 – $(241)) | (123) | (394) |
| Other investing activities, net | 4,862 | (391) |
| Net cash used in investing activities | (39,129) | (50,304) |
| (Continued) | ||
| See accompanying notes to the unaudited condensed consolidated financial statements | ||
Condensed Consolidated Statements of Cash Flows(Unaudited)
| Nine months ended September 30, | ||
|---|---|---|
| (In millions) | 2026 | 2025 |
| Cash flows from financing activities | ||
| Deposits on investment-type policies and contracts | 60,237 | 69,269 |
| Withdrawals on investment-type policies and contracts (related party: 2026 – $(154) and 2025 – $(206)) | (24,433) | (16,821) |
| Proceeds from debt | 992 | 1,591 |
| Capital contributions from parent | 56 | 211 |
| Capital contributions from noncontrolling interests | 416 | 284 |
| Capital contributions from noncontrolling interests of consolidated variable interest entities | 1,799 | 1,641 |
| Capital distributions to noncontrolling interests | (381) | (254) |
| Net change in cash collateral posted for derivative transactions and securities to repurchase | (10) | (2,586) |
| Preferred stock dividends | (106) | (126) |
| Common stock dividends | (563) | (563) |
| Redemption of preferred stock | — | (600) |
| Other financing activities, net | (638) | (166) |
| Net cash provided by financing activities | 37,369 | 51,880 |
| Effect of exchange rate changes on cash and cash equivalents | (2) | 13 |
| Net increase in cash and cash equivalents | 1,696 | 3,707 |
| Cash and cash equivalents at beginning of year1 | 16,895 | 14,259 |
| Cash and cash equivalents at end of period1 | $18,591 | $17,966 |
| Supplementary information | ||
| Cash paid for taxes | $54 | $382 |
| Non-cash transactions | ||
| Deposits on investment-type policies and contracts through reinsurance agreements, net assumed (ceded) (related party: 2026 – $(1,353) and 2025 – $(1,423)) | (1,323) | (1,388) |
| Withdrawals on investment-type policies and contracts through reinsurance agreements, net assumed (ceded) (related party: 2026 – $480 and 2025 – $752) | 3,493 | 4,402 |
| Exchange of interests in consolidated variable interest entities for related party investments | 450 | — |
| 1 Includes cash and cash equivalents, restricted cash, and cash and cash equivalents of consolidated variable interest entities. | ||
(Concluded)
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