REVENUE RECOGNITION

9 Months Ended

Sep. 30, 2018

Revenue from Contract with Customer [Abstract]

REVENUE RECOGNITION

See “Revenue Recognition” in Note 2 for descriptions of revenues presented in the table below. The adoption of ASC 606 had no significant impact on revenue recognition during the first nine months of 2018, except for the recognition of $49 million of performance fees from two hedge funds in liquidation that is not probable of significant reversal, that under the previous revenue accounting standard would not be recognized until final liquidation.

The table below presents the revenues recognized during the three and nine months ended September 30, 2018 and 2017, disaggregated by category:



	Three Months Ended September 30,					Nine Months Ended September 30,
	2018		2017		2017	2018		2017
	(in millions)
Investment management, advisory and service fees:
Base fees	$	740	$	701		$	2,188	$	2,018
Performance-based fees	42		4			83		25
Research services	103		109			324		331
Distribution services	183		175			545		511
Other revenues:
Shareholder services	20		19			58		56
Other	4		5			16		13
Total investment management and service fees	$	1,092	$	1,013		$	3,214	$	2,954

Other income	$	7	$	9		$	24	$	25