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Financing Receivables (Tables)
 9 Months Ended
Sep. 30, 2021
Financing Receivables  
Rollforward of allowance for loan losses
 Commercial LoansConsumer LoansTotal
(in millions)
Balance, January 1, 2021
$66 $2 $68 
Provisions(14)1 (13)
Charge-offs(6)(1)(7)
Recoveries— 1 1 
Other2 — 2 
Balance, September 30, 2021
$48 $3 $51 
 Commercial LoansConsumer LoansTotal
(in millions)
Balance, December 31, 2019 (1)
$51 $— $51 
Cumulative effect of adoption of current expected credit losses guidance2 3 5 
Balance, January 1, 2020
53 3 56 
Provisions16 3 19 
Charge-offs(2)(2)(4)
Balance, September 30, 2020
$67 $4 $71 
(1) Prior to January 1, 2020, the allowance for credit losses was based on an incurred loss model that did not require estimating expected credit losses over the expected life of the asset.
Schedule of concentrations of credit risk of loans by region and property type Concentrations of credit risk of commercial mortgage loans by U.S. region were as follows:
 LoansPercentage
September 30, 2021
December 31, 2020
September 30, 2021
December 31, 2020
(in millions)  
East North Central$187 $259 10 %10 %
East South Central69 115 4 4 
Middle Atlantic125 178 7 7 
Mountain124 247 6 9 
New England29 54 2 2 
Pacific608 825 32 30 
South Atlantic496 681 26 25 
West North Central140 198 7 7 
West South Central123 168 6 6 
 1,901 2,725 100 %100 %
Less: allowance for credit losses14 29   
Total$1,887 $2,696   
Concentrations of credit risk of commercial mortgage loans by property type were as follows:
 LoansPercentage
September 30, 2021
December 31, 2020
September 30, 2021
December 31, 2020
(in millions)  
Apartments$499 $713 26 %26 %
Hotel15 50 1 2 
Industrial306 427 16 16 
Mixed use68 87 4 3 
Office272 372 14 14 
Retail625 881 33 32 
Other116 195 6 7 
 1,901 2,725 100 %100 %
Less: allowance for credit losses14 29   
Total
$1,887 $2,696   
Commercial Loans | Commercial mortgage loans  
Financing Receivables  
Schedule of amortized cost basis of loans and credit quality information
September 30, 2021
Loan-to-Value Ratio
2021
2020201920182017PriorTotal
(in millions)
> 100%$— $— $20 $10 $— $30 $60 
80% - 100%9 14 9 6 — 37 75 
60% - 80%95 69 68 29 61 133 455 
40% - 60%23 34 95 69 60 420 701 
< 40%9 7 41 3 56 494 610 
Total$136 $124 $233 $117 $177 $1,114 $1,901 
December 31, 2020
Loan-to-Value Ratio20202019201820172016PriorTotal
(in millions)
> 100%$— $— $2 $— $— $10 $12 
80% - 100%15 16 12 3 7 15 68 
60% - 80%89 166 27 32 46 144 504 
40% - 60%23 57 74 155 113 551 973 
< 40%7 23 80 99 64 895 1,168 
Total$134 $262 $195 $289 $230 $1,615 $2,725 
Commercial Loans | Syndicated loans  
Financing Receivables  
Schedule of amortized cost basis of loans and credit quality information
September 30, 2021
Internal Risk Rating20212020201920182017PriorTotal
(in millions)
Risk 5$— $— $— $— $— $— $— 
Risk 4— — 1 1 1 1 4 
Risk 3— — 4 4 5 9 22 
Risk 216 5 9 11 16 9 66 
Risk 19 3 7 9 16 16 60 
Total$25 $8 $21 $25 $38 $35 $152 
December 31, 2020
Internal Risk Rating20202019201820172016PriorTotal
(in millions)
Risk 5$— $— $— $— $— $3 $3 
Risk 4— — 4 9 — 10 23 
Risk 3— 9 8 25 13 25 80 
Risk 230 57 62 69 14 41 273 
Risk 117 32 47 58 22 40 216 
Total$47 $98 $121 $161 $49 $119 $595 
Commercial Loans | Loans to financial advisors  
Financing Receivables  
Schedule of amortized cost basis of loans and credit quality information
September 30, 2021
Termination Status20212020201920182017PriorTotal
(in millions)
Active$104 $155 $124 $91 $119 $128 $721 
Terminated2 — — — 1 7 10 
Total$106 $155 $124 $91 $120 $135 $731 
December 31, 2020
Termination Status20202019201820172016PriorTotal
(in millions)
Active$171 $137 $101 $127 $83 $86 $705 
Terminated— — — 1 1 8 10 
Total$171 $137 $101 $128 $84 $94 $715 
Consumer Loans | Credit card receivables  
Financing Receivables  
Schedule of amortized cost basis of loans and credit quality information
September 30, 2021
December 31, 2020
(in millions)
> 800$27 $28 
750 - 79923 23 
700 - 74924 25 
650 - 69914 15 
< 6505 5 
Total$93 $96