The following tables summarize selected financial information by segment and reconcile segment totals to those reported on the consolidated financial statements:


	December 31,
	2025		2024
	(in millions)
Advice & Wealth Management	$	40,038	$	41,514
Asset Management	6,723		7,350
Retirement & Protection Solutions	127,778		116,609
Corporate & Other	16,365		15,930
Total assets	$	190,904	$	181,403


	Years Ended December 31,
	2025		2024		2023
	(in millions)
Adjusted operating net revenues:
Advice & Wealth Management	$	11,741	$	10,780	$	9,418
Asset Management	3,621		3,515		3,278
Retirement & Protection Solutions	3,955		3,773		3,476
Corporate & Other	427		454		533
Elimination of segment revenues (1)	(1,451)		(1,443)		(1,318)
Total segment adjusted operating net revenues	18,293		17,079		15,387
Adjustments:
Net realized investment gains (losses)	(8)		(21)		(32)
Market impact on non-traditional long-duration products	12		3		2




Revenue attributable to consolidated investment entities	183		203		178

Total net revenues per consolidated statements of operations	$	18,480	$	17,264	$	15,535

(1) Represents the elimination of intersegment revenues recognized for the years ended December 31, 2025, 2024 and 2023 in each segment as follows: Advice & Wealth Management ($936, $935 and $847, respectively); Asset Management ($103, $96 and $79, respectively); Retirement & Protection Solutions ($443, $441 and $411, respectively); and Corporate & Other ($(31), $(29) and $(19), respectively).


	Years Ended December 31,
	2025		2024		2023
	(in millions)
Adjusted operating earnings:
Advice & Wealth Management	$	3,411	$	3,233	$	2,851
Asset Management	1,016		920		720
Retirement & Protection Solutions	846		726		685
Corporate & Other	(396)		(443)		(320)
Total segment adjusted operating earnings	4,877		4,436		3,936
Adjustments:
Net realized investment gains (losses)	(8)		(21)		(32)
Market impact on non-traditional long-duration products	(366)		(153)		(608)
Mean reversion related impacts	1		1		—


Integration/restructuring charges	—		—		(62)

Net income (loss) attributable to consolidated investment entities	—		4		—
Pretax income per consolidated statements of operations	$	4,504	$	4,267	$	3,234


	Year Ended December 31, 2025
	Advice & Wealth Management		Asset Management		Retirement & Protection Solutions		Corporate & Other
	(in millions)
Expenses:
Distribution expenses	$	6,513	$	1,005	$	520	$	(11)
Interest credited to fixed accounts	—		—		373		202
Benefits, claims, losses and settlement expenses	—		—		913		215
Remeasurement (gains) losses of future policy benefit reserves	—		—		(24)		34
Change in fair value of market risk benefits	—		—		726		—
Amortization of deferred acquisition costs	—		7		229		6
Interest and debt expense	55		12		40		105
General and administrative expense	1,762		1,581		332		272
Total expenses	$	8,330	$	2,605	$	3,109	$	823


	Year Ended December 31, 2024
	Advice & Wealth Management		Asset Management		Retirement & Protection Solutions		Corporate & Other
	(in millions)
Expenses:
Distribution expenses	$	5,823	$	989	$	515	$	(10)
Interest credited to fixed accounts	—		—		367		216
Benefits, claims, losses and settlement expenses	—		—		927		217
Remeasurement (gains) losses of future policy benefit reserves	—		—		(36)		(8)
Change in fair value of market risk benefits	—		—		684		—
Amortization of deferred acquisition costs	—		7		227		8
Interest and debt expense	38		7		45		108
General and administrative expense	1,686		1,592		318		366
Total expenses	$	7,547	$	2,595	$	3,047	$	897


	Year Ended December 31, 2023
	Advice & Wealth Management		Asset Management		Retirement & Protection Solutions		Corporate & Other
	(in millions)
Expenses:
Distribution expenses	$	4,888	$	925	$	464	$	(10)
Interest credited to fixed accounts	—		—		369		234
Benefits, claims, losses and settlement expenses	—		—		744		236
Remeasurement (gains) losses of future policy benefit reserves	—		—		(19)		(1)
Change in fair value of market risk benefits	—		—		628		—
Amortization of deferred acquisition costs	—		6		229		11
Interest and debt expense	27		7		51		97
General and administrative expense	1,652		1,620		325		286
Total expenses	$	6,567	$	2,558	$	2,791	$	853