Revenue from Contracts with Customers (Tables)

3 Months Ended

Mar. 31, 2026

Revenue from Contract with Customer [Abstract]

Schedule of disaggregated revenue by segment

The following tables present revenue disaggregated by segment on an adjusted operating basis with a reconciliation of segment revenues to those reported on the Consolidated Statements of Operations:


			Three Months Ended March 31, 2026
			Advice & Wealth Management						Asset Management						Retirement & Protection Solutions						Corporate & Other						Total Segments						Non-operating Revenue						Total
			(in millions)
Management and financial advice fees:
Asset management fees:
Retail			$	—					$	563					$	—					$	—					$	563					$	—					$	563
Institutional			—						145						—						—						145						—						145
Model delivery			—						27						—						—						27						—						27
Advisory fees			1,797						—						—						—						1,797						—						1,797
Financial planning fees			115						—						—						—						115						—						115
Transaction and other fees			99						53						15						—						167						—						167
Total management and financial advice fees			2,011						788						15						—						2,814						—						2,814
Distribution fees:
Mutual funds			237						61						—						—						298						—						298
Insurance and annuity			260						39						83						—						382						—						382
Off-balance sheet brokerage cash			26						—						—						—						26						—						26
Other products			141						—						—						—						141						—						141
Total distribution fees			664						100						83						—						847						—						847
Other revenues			78						5						—						—						83						—						83
Total revenue from contracts with customers			2,753						893						98						—						3,744						—						3,744
Revenue from other sources (1)			496						17						854						107						1,474						42						1,516
Total segment gross revenues			3,249						910						952						107						5,218						42						5,260
Banking and deposit interest expense			(74)						—						—						(4)						(78)						—						(78)
Total segment net revenues			3,175						910						952						103						5,140						42						5,182
Elimination of intersegment revenues			(239)						(23)						(108)						4						(366)						(4)						(370)
Total net revenues			$	2,936					$	887					$	844					$	107					$	4,774					$	38					$	4,812



			Three Months Ended March 31, 2025
			Advice & Wealth Management						Asset Management						Retirement & Protection Solutions						Corporate & Other						Total Segments						Non-operating Revenue						Total
			(in millions)
Management and financial advice fees:
Asset management fees:
Retail			$	—					$	530					$	—					$	—					$	530					$	—					$	530
Institutional			—						134						—						—						134						—						134
Model delivery			—						22						—						—						22						—						22
Advisory fees			1,515						—						—						—						1,515						—						1,515
Financial planning fees			110						—						—						—						110						—						110
Transaction and other fees			94						50						15						—						159						—						159
Total management and financial advice fees			1,719						736						15						—						2,470						—						2,470
Distribution fees:
Mutual funds			214						55						—						—						269						—						269
Insurance and annuity			243						39						82						—						364						—						364
Off-balance sheet brokerage cash			36						—						—						—						36						—						36
Other products			120						—						—						—						120						—						120
Total distribution fees			613						94						82						—						789						—						789
Other revenues			69						5						—						—						74						—						74
Total revenue from contracts with customers			2,401						835						97						—						3,333						—						3,333
Revenue from other sources (1)			508						11						829						112						1,460						49						1,509
Total segment gross revenues			2,909						846						926						112						4,793						49						4,842
Banking and deposit interest expense			(127)						—						—						(8)						(135)						—						(135)
Total segment net revenues			2,782						846						926						104						4,658						49						4,707
Elimination of intersegment revenues			(222)						(26)						(109)						8						(349)						(4)						(353)
Total net revenues			$	2,560					$	820					$	817					$	112					$	4,309					$	45					$	4,354

(1) Revenues not included in the scope of the revenue from contracts with customers standard. The amounts primarily consist of revenue associated with insurance and annuity products and investment income from financial instruments.