I'll new LDTI Today, details more financial the proven provide results track and accounting capital, leverage fourth and about financial builds liquidity and quarter record. the on performance standard key was Thanks, F&G's position. metrics, Overall, in and strong on our our perspective Chris. performance
flexibility with adjusted strong our Starting have financial net capitalization and strategy. We execute successfully to earnings. growth
from was a reported or long-term million quarter, of gain million other fourth alternative approximately actuarial net updates expected $XX investments' carryback alternative adjusted management's from investment capital the and investments, income on $XX million For The share. of tax benefit net This recognized from per items. a onetime million. income we $XX $XX XX% losses, assumption million $X.XX based included $XXX return earnings of
management's a loss For updates, update, $X million from gains of had the net adjustments, net alternative share. benefits full non-GAAP by The reflecting of that per This million net quarter a economic reserve and review return $XXX largely of tax year income current driven included million million I'll million movement was gain $XX investment investments, in income, income note earnings million of $X expenses. mark-to-market net or based $XX from a on million $XX other million. and investments' XXXX, assumption of CLO other expected on and to $XXX conditions. income redemption we reported $XXX prior income and actuarial assumption alternative recognized approximately basis, macroeconomic adjusted $XXX XX% long-term we
generate reflected cumulative quarters FNF for results, approximately merger original in X exceeded F&G continues over F&G to Despite far net XX has our Since $X.X a the delivered and of economics expectation on consistent over over growth volatility years basis. adjusted with the billion earnings our short-term time. last quarterly ago,
Our quarterly basis are sales. assets over details as release continues well adjusted and XXX provided website. trend net presentation moderated to points, time our our on target earnings in having investor above supplements while our our return available even financial on Further retained of as
prudent given value, look based improvements we business, a Overall, date. liability liabilities. acquisition, an effective assets X view accounting value mix assumptions which accounting standard targeted marked geared XXXX, fair liabilities and we impacted as as with Also, associated purchase value reminder, forward to our or reserves our not June is indexed adoption certain the as the insignificant for total and long-duration and LDTI annuity LDTI long-dated as the value of LDTI. FNF becomes merger to recent to already our Next, XXXX, book and by are at of fair to new fair of X,
the line Our previous estimate with transition our of in disclosed January remains impact XXXX X, range.
by by GAAP to We measurement the after-tax million reflecting of offset LDTI equity removal shareholders' drivers actuarial are expecting shadow intangible of an effect the accounting net increase for the to new $XXX balances. up
or the we at a greater LDTI favorable process. impact, relation market although the support the of to ongoing XXXX, impact transition to in XX, current our December expect to than to shareholders' implementation total conditions As equity subject impact
Of sources of company's rates. changes of business during on from LDTI including earnings to forward likely performance ultimate our new further differ on based first differences conditions, January X, of look XXXX emerge. when include in recasted timing XXXX which upon results, materially basis. XXXX, impact actual and with providing be may the There We details on results interest adoption quarter the LDTI course, will the the estimates the macroeconomic will of
the perspective, economic product profitability an from underlying Although is unchanged.
statutory accounting reminder, a standard or to with capital. cash this GAAP only results, no company flows impact U.S. insurance regulatory is As a
position XX, the of AOCI, leverage December balance $X.X XXX quarter our value, to excluding We million shares with common per share, capital, with sheet, and of or a book our $XX.XX strong. is GAAP XXXX. ended billion outstanding liquidity Turning as
noneconomic Our actions before in delivered growth investor fundamentals our GAAP this year-over-year is analysis and presentation book per page There detailing underlying book excluding value movements. share. AOCI, of X% in solid business capital a of mark-to-market value,
GAAP standard our shareholders' restated for mentioned, in accounting be adoption As first just equity LDTI, the of quarter will XXXX. of
growth strong and Our capitalization distributable supports cash.
translates of underlying Our Directors of based shareholders. of approximately year. recent well aggregate business approved value strength in $X.X Board into approximately our at our million for X.X% and on program billion This capitalization commitment amount of per initial has demonstrates to market our initiation the dividend as F&G's a an approximately creating of a the as $XXX dividend yield
quarterly We of paid January $X.XX the common our first or $XX dividend amount XXXX stocks public company of per in in million. share
expect for fiscal date next the announce to the following subsequent payment record with Director relevant of to dividend, quarter Board each and Going subject forward, quarter, in and we third quarter. the each starting payment of month date completion of approval,
Next, leverage. F&G's senior including proceeds XX, AOCI, credit closed excluding facility as December turning million to unsecured fourth revolving quarter. ratio, XX% third-party was in debt-to-capitalization new that from the $XXX a of
enhance in as due notes on issuance XXXX. complete XX, are approximately pay down from credit our $XX to credit X.X% of the more have shareholders. future to January as strong XXXX, capacity is is undrawn. additional as to pro to and the with the million. availability net We also pleased undrawn and ratio, senior support $XX January growth note our million December growth F&G on our Based with proceeds outstanding senior reflected flexibility partial intend annual debt February we and revolver the the revolving on are our successfully our the plan for public liquidity an This deployment in We its $XXX a XX, million target well the expense AOCI, note current to issuance work of from group and On as XXXX, to million strategy bank of received remains on to excluding us needs. additional although unsecured capital first company to executed support return senior a the interest business debt capital capitalization issuing in our financial million, as revolving issuance of position debt and forma not from execute amendment increase provides facility XX% use facility for in long-term outstanding, XX. $XXX we debt line [indiscernible] revolver
capital significant came business. a while to statutory the which our strong us to period sheet, into balance effectively market on position. moving with volatility, weather Now We growing a XXXX allowed of
the buffer position, operating XXX% year risk-based ended we ratio strong expected, capital action above a approximately estimated our our primary As subsidiary, an with level providing for stable having or capital RBC company a well of and target. XXX%
had and planned well opportunity and the up, reinsurance our we with book our successfully positioned F&G our sheet to capacity as continued with positive is book generation, XXXX, debt value executed positive year debt from available full to on For fund capital time. its growth initiatives and reinsurance generation in-force support growing wrap growth balance in-force over future capital of business. for and capacity growth ample delevers programs To
have sheet that pleased on on placed from the that On This revised we continue as are the to financial commitment ratings the A.M. positive upgrades back we final we to front, outlook I with track that, over into we and our proven reflects outlook balance provide hand time. and comments focus transparency has to Moody's. Chris some agencies interactions well with will in a head Best record, strength, Q&A. as our now December With positive before to stable our achieving rating
