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 September 30, 2026 and December 31, 2025:
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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 September 30, 2026 and 2025 include $17 million and $81 million of losses, respectively, on futures used in a macro hedging strategy of seed investments, and $1 million of losses and $13 million of gains, respectively, on futures used to economically hedge certain deferred cash compensation plans. Amounts for the nine months ended September 30, 2026 and 2025 include $117 million and $196 million of losses, respectively, on futures used in a macro hedging strategy of seed investments, and $20 million and $26 million of gains, respectively, on futures used to economically hedge certain deferred cash compensation plans. |
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