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


	March 31, 2026		December 31, 2025
	(in millions)
Advice & Wealth Management	$	40,171	$	40,038
Asset Management	6,548		6,723
Retirement & Protection Solutions	122,100		127,778
Corporate & Other	15,629		16,365
Total assets	$	184,448	$	190,904


	Three Months Ended March 31,
		2026			2025
			(in millions)
Adjusted operating net revenues:
Advice & Wealth Management			$	3,175		$	2,782
Asset Management			910			846
Retirement & Protection Solutions			952			926
Corporate & Other			103			104
Elimination of segment revenues (1)			(366)			(349)
Total segment adjusted operating net revenues			4,774			4,309
Adjustments:
Net realized investment gains (losses)			(5)			(2)
Market impact on non-traditional long-duration products			2			5

Revenue attributable to consolidated investment entities			41			42


Total net revenues per consolidated statements of operations			$	4,812		$	4,354

(1) Represents the elimination of intersegment revenues recognized for the three months ended March 31, 2026 and 2025 in each segment as follows: Advice & Wealth Management ($239 million and $222 million, respectively); Asset Management ($23 million and $26 million, respectively); Retirement & Protection Solutions ($108 million and $109 million, respectively); and Corporate & Other ($(4) million and $(8) million, respectively).


	Three Months Ended March 31,
		2026			2025
			(in millions)
Adjusted operating earnings:
Advice & Wealth Management			$	951		$	792
Asset Management			273			241
Retirement & Protection Solutions			190			215
Corporate & Other			(81)			(97)
Total segment adjusted operating earnings			1,333			1,151
Adjustments:
Net realized investment gains (losses)			(5)			(2)
Market impact on non-traditional long-duration products			(184)			(460)


Net income (loss) attributable to consolidated investment entities			—			(2)


Pretax income per consolidated statements of operations			$	1,144		$	687


	Three Months Ended March 31, 2026
	Advice & Wealth Management		Asset Management		Retirement & Protection Solutions		Corporate & Other
	(in millions)
Expenses:
Distribution expenses	$	1,770	$	262	$	132	$	(2)
Interest credited to fixed accounts	—		—		93		50
Benefits, claims, losses and settlement expenses	—		—		235		53
Remeasurement (gains) losses of future policy benefit reserves	—		—		(2)		1
Change in fair value of market risk benefits	—		—		155		—
Amortization of deferred acquisition costs	—		2		58		1
Interest and debt expense	15		4		10		24
General and administrative expense	439		369		81		57
Total expenses	$	2,224	$	637	$	762	$	184


	Three Months Ended March 31, 2025
	Advice & Wealth Management		Asset Management		Retirement & Protection Solutions		Corporate & Other
	(in millions)
Expenses:
Distribution expenses	$	1,554	$	246	$	123	$	(2)
Interest credited to fixed accounts	—		—		92		51
Benefits, claims, losses and settlement expenses	—		—		211		56
Remeasurement (gains) losses of future policy benefit reserves	—		—		(3)		(7)
Change in fair value of market risk benefits	—		—		143		—
Amortization of deferred acquisition costs	—		2		57		2
Interest and debt expense	12		3		8		28
General and administrative expense	424		354		80		73
Total expenses	$	1,990	$	605	$	711	$	201