Segment Information (Tables)

12 Months Ended

Dec. 31, 2021

Summary of selected financial information by segment and reconciliation to consolidated


	December 31,
	2021		2020
	(in millions)
Advice & Wealth Management	$	24,986	$	21,266
Asset Management	10,990		8,406
Retirement & Protection Solutions	119,469		114,850
Corporate & Other	20,534		21,361
Total assets	$	175,979	$	165,883


	Years Ended December 31,
	2021		2020		2019
	(in millions)
Adjusted operating net revenues:
Advice & Wealth Management	$	8,021	$	6,675	$	6,599
Asset Management	3,682		2,891		2,913
Retirement & Protection Solutions	3,244		3,094		3,123
Corporate & Other	487		546		1,477
Elimination of intersegment revenues (1)	(1,573)		(1,377)		(1,402)
Total segment adjusted operating net revenues	13,861		11,829		12,710
Net realized gains (losses)	90		(11)		(14)
Revenue attributable to consolidated investment entities	107		71		88
Market impact on non-traditional long-duration products, net	38		10		—
Mean reversion related impacts	1		—		—
Market impact of hedges on investments	(22)		—		(35)
Block transfer reinsurance transaction impacts	(644)		—		8
Integration and restructuring charges	—		—		(3)
Gain on disposal of business	—		—		213
Total net revenues per consolidated statements of operations	$	13,431	$	11,899	$	12,967

(1) Represents the elimination of intersegment revenues recognized for the years ended December 31, 2021, 2020 and 2019 in each segment as follows: Advice and Wealth Management ($1,043, $893 and $924, respectively); Asset Management ($50, $53 and $55, respectively); Retirement & Protection Solutions ($478, $433 and $429, respectively); and Corporate & Other ($2, $(2) and $(6), respectively).


	Years Ended December 31,
	2021		2020		2019
	(in millions)
Adjusted operating earnings:
Advice & Wealth Management	$	1,743	$	1,321	$	1,509
Asset Management	1,096		697		661
Retirement & Protection Solutions	735		480		724
Corporate & Other	(270)		(369)		(286)
Total segment adjusted operating earnings	3,304		2,129		2,608
Net realized gains (losses)	87		(10)		(12)
Net income (loss) attributable to consolidated investment entities	(4)		4		1
Market impact on non-traditional long-duration products, net	(656)		(375)		(591)
Mean reversion related impacts	152		87		57
Market impact of hedges on investments	(22)		—		(35)
Block transfer reinsurance transaction impacts	521		—		8
Integration and restructuring charges	(32)		(4)		(17)
Gain on disposal of business	—		—		213
Pretax income per consolidated statements of operations	$	3,350	$	1,831	$	2,232