v3.26.1
Operating Costs and Other Expenses
 3 Months Ended
Mar. 31, 2026
Operating Costs And Other Expenses [Abstract]  
Operating Costs and Other Expenses Operating Costs and Other Expenses
        
The following table summarizes the Company’s operating costs and other expenses (in millions):

Three Months Ended March 31,
20262025
Asset-based commission expenses$295 $284 
Other commission expenses 322 215 
Sub-advisor expenses 74 78 
General and administrative expenses (1)
299 259 
Deferral of acquisition costs(255)(159)
     Total operating costs and other expenses$735 $677 
(1)Includes gains (losses) on derivative instruments economically hedging liabilities related to the non-qualified voluntary deferred compensation plan beginning in the third quarter 2025.