Revenue from Contract with Customer (Tables)

9 Months Ended

Sep. 30, 2020

Revenue from Contract with Customer [Abstract]

Schedule of disaggregation of revenues [Table Text Block]

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 September 30, 2020
	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	$	—	$	466	$	—	$	—	$	466	$	—	$	466
Institutional	—		122		—		—		122		—		122
Advisory fees	907		—		—		—		907		—		907
Financial planning fees	81		—		—		—		81		—		81
Transaction and other fees	89		47		14		—		150		—		150
Total management and financial advice fees	1,077		635		14		—		1,726		—		1,726
Distribution fees:
Mutual funds	186		59		—		—		245		—		245
Insurance and annuity	202		45		75		—		322		—		322
Other products	91		—		—		—		91		—		91
Total distribution fees	479		104		75		—		658		—		658
Other revenues	44		—		5		—		49		—		49
Total revenue from contracts with customers	1,600		739		94		—		2,433		—		2,433
Revenue from other sources (1)	77		—		687		132		896		27		923
Total segment gross revenues	1,677		739		781		132		3,329		27		3,356
Less: Banking and deposit interest expense	10		—		—		—		10		—		10
Total segment net revenues	1,667		739		781		132		3,319		27		3,346
Less: Intersegment revenues	219		13		110		—		342		1		343
Total net revenues	$	1,448	$	726	$	671	$	132	$	2,977	$	26	$	3,003

	Three Months Ended September 30, 2019
	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	$	—	$	448	$	—	$	—	$	448	$	—	$	448
Institutional	—		135		—		—		135		—		135
Advisory fees	813		—		—		—		813		—		813
Financial planning fees	80		—		—		—		80		—		80
Transaction and other fees	91		48		16		—		155		—		155
Total management and financial advice fees	984		631		16		—		1,631		—		1,631
Distribution fees:
Mutual funds	183		59		—		—		242		—		242
Insurance and annuity	226		43		91		1		361		—		361
Other products	169		—		—		—		169		—		169
Total distribution fees	578		102		91		1		772		—		772
Other revenues	40		—		—		—		40		—		40
Total revenue from contracts with customers	1,602		733		107		1		2,443		—		2,443
Revenue from other sources (1)	115		8		681		450		1,254		19		1,273
Total segment gross revenues	1,717		741		788		451		3,697		19		3,716
Less: Banking and deposit interest expense	35		(1)		—		1		35		—		35
Total segment net revenues	1,682		742		788		450		3,662		19		3,681
Less: Intersegment revenues	240		13		110		(1)		362		2		364
Total net revenues	$	1,442	$	729	$	678	$	451	$	3,300	$	17	$	3,317

	Nine Months Ended September 30, 2020
	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	$	—	$	1,330	$	—	$	—	$	1,330	$	—	$	1,330
Institutional	—		308		—		—		308		—		308
Advisory fees	2,558		—		—		—		2,558		—		2,558
Financial planning fees	248		—		—		—		248		—		248
Transaction and other fees	264		139		45		—		448		—		448
Total management and financial advice fees	3,070		1,777		45		—		4,892		—		4,892
Distribution fees:
Mutual funds	540		174		—		—		714		—		714
Insurance and annuity	606		129		266		—		1,001		—		1,001
Other products	334		—		—		—		334		—		334
Total distribution fees	1,480		303		266		—		2,049		—		2,049
Other revenues	138		2		5		3		148		—		148
Total revenue from contracts with customers	4,688		2,082		316		3		7,089		—		7,089
Revenue from other sources (1)	264		11		1,979		411		2,665		28		2,693
Total segment gross revenues	4,952		2,093		2,295		414		9,754		28		9,782
Less: Banking and deposit interest expense	53		—		—		2		55		—		55
Total segment net revenues	4,899		2,093		2,295		412		9,699		28		9,727
Less: Intersegment revenues	649		39		319		(1)		1,006		5		1,011
Total net revenues	$	4,250	$	2,054	$	1,976	$	413	$	8,693	$	23	$	8,716

	Nine Months Ended September 30, 2019
	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	$	—	$	1,319	$	—	$	—	$	1,319	$	—	$	1,319
Institutional	—		350		—		—		350		—		350
Advisory fees	2,317		—		—		—		2,317		—		2,317
Financial planning fees	233		—		—		—		233		—		233
Transaction and other fees	266		141		47		—		454		—		454
Total management and financial advice fees	2,816		1,810		47		—		4,673		—		4,673
Distribution fees:
Mutual funds	536		176		—		—		712		—		712
Insurance and annuity	649		127		265		5		1,046		—		1,046
Other products	534		—		—		—		534		—		534
Total distribution fees	1,719		303		265		5		2,292		—		2,292
Other revenues	134		4		—		—		138		—		138
Total revenue from contracts with customers	4,669		2,117		312		5		7,103		—		7,103
Revenue from other sources (1)	326		26		2,025		1,340		3,717		21		3,738
Total segment gross revenues	4,995		2,143		2,337		1,345		10,820		21		10,841
Less: Banking and deposit interest expense	106		—		—		5		111		—		111
Total segment net revenues	4,889		2,143		2,337		1,340		10,709		21		10,730
Less: Intersegment revenues	689		40		319		(4)		1,044		6		1,050
Total net revenues	$	4,200	$	2,103	$	2,018	$	1,344	$	9,665	$	15	$	9,680

(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 or financial instruments.