FG Annuities Life Inc
For the period ended Mar 31, 2024. Filed May 10, 2024.
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.
Mar 31, 2024 · Filed May 10, 2024
FG$25.00-2.2%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 Operations (unaudited)
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Dollars and shares millions, except per share data)
| Three months ended | ||
|---|---|---|
| March 31, 2024 | March 31, 2023 | |
| (Unaudited) | ||
| Revenues: | ||
| Life insurance premiums and other fees | $718 | $365 |
| Interest and investment income | 616 | 519 |
| Owned distribution revenues | 23 | — |
| Recognized gains and (losses), net | 212 | (15) |
| Total revenues | 1,569 | 869 |
| Benefits and expenses: | ||
| Benefits and other changes in policy reserves (remeasurement gains (losses) (a)) | 1,161 | 812 |
| Market risk benefit (gains) losses | (11) | 59 |
| Depreciation and amortization | 123 | 90 |
| Personnel costs | 66 | 53 |
| Other operating expenses | 58 | 36 |
| Interest expense | 30 | 22 |
| Total benefits and expenses | 1,427 | 1,072 |
| Earnings (loss) before income taxes | 142 | (203) |
| Income tax expense (benefit) | 26 | (8) |
| Net earnings (loss) | 116 | (195) |
| Less: Noncontrolling interests | 1 | — |
| Net earnings (loss) attributable to F&G | 115 | (195) |
| Less: Preferred stock dividend | 4 | — |
| Net earnings (loss) attributable to F&G common shareholders | $111 | $(195) |
| Earnings per share | ||
| Basic | ||
| Net earnings (loss) per share attributable to F&G common shareholders, basic | $0.90 | $(1.56) |
| Diluted | ||
| Net earnings (loss) per share attributable to F&G common shareholders, diluted | $0.88 | $(1.56) |
| Weighted average shares outstanding F&G common stock, basic basis | 124 | 125 |
| Weighted average shares outstanding F&G common stock, diluted basis | 130 | 125 |
(a)The remeasurement gains (losses) for the three months ended March 31, 2024 and March 31, 2023 were $7 million and $(4) million, respectively.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.