Derivative and Hedging (Tables) |
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| Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Fair Values of Derivatives Instruments Recognized in Condensed Consolidated Statements of Financial Condition | The following table presents the fair values of derivative instruments recognized in the condensed consolidated statements of financial condition at June 30, 2025 and December 31, 2024:
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| Summary of Realized and Unrealized Gains (Losses) Recognized in Condensed Consolidated Statements of Income on Derivative Instruments | The following table presents realized and unrealized gains (losses) recognized in the condensed consolidated statements of income on derivative instruments:
(1)
Amounts for the three months ended June 30, 2025 and 2024 include $125 million and $6 million of losses on futures used in a macro hedging strategy of seed investments, respectively, and $19 million and $3 million of gains on futures used to economically hedge certain deferred cash compensation plans, respectively. Amounts for the six months ended June 30, 2025 and 2024 include $115 million and $49 million of losses on futures used in a macro hedging strategy of seed investments, respectively, and $13 million and $14 million of gains on futures used to economically hedge certain deferred cash compensation plans, respectively. |
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