Revenue from Contracts with Customers (Tables)

3 Months Ended

Mar. 31, 2022

Revenue from Contract with Customer [Abstract]

Schedule of disaggregated revenue by segment

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 March 31, 2022
	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	$	—	$	644	$	—	$	—	$	644	$	—	$	644
Institutional	—		195		—		—		195		—		195
Advisory fees	1,191		—		—		—		1,191		—		1,191
Financial planning fees	97		—		—		—		97		—		97
Transaction and other fees	92		55		16		—		163		—		163
Total management and financial advice fees	1,380		894		16		—		2,290		—		2,290
Distribution fees:
Mutual funds	204		65		—		—		269		—		269
Insurance and annuity	221		46		95		—		362		—		362
Other products	104		—		—		—		104		—		104
Total distribution fees	529		111		95		—		735		—		735
Other revenues	53		5		—		—		58		—		58
Total revenue from contracts with customers	1,962		1,010		111		—		3,083		—		3,083
Revenue from other sources (1)	82		7		661		116		866		63		929
Total segment gross revenues	2,044		1,017		772		116		3,949		63		4,012
Banking and deposit interest expense	(2)		—		—		—		(2)		—		(2)
Total segment net revenues	2,042		1,017		772		116		3,947		63		4,010
Elimination of intersegment revenues	(228)		(12)		(112)		—		(352)		(3)		(355)
Total net revenues	$	1,814	$	1,005	$	660	$	116	$	3,595	$	60	$	3,655

	Three Months Ended March 31, 2021
	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	$	—	$	531	$	—	$	—	$	531	$	—	$	531
Institutional	—		123		—		—		123		—		123
Advisory fees	1,028		—		—		—		1,028		—		1,028
Financial planning fees	88		—		—		—		88		—		88
Transaction and other fees	89		52		16		—		157		—		157
Total management and financial advice fees	1,205		706		16		—		1,927		—		1,927
Distribution fees:
Mutual funds	207		67		—		—		274		—		274
Insurance and annuity	240		47		99		—		386		—		386
Other products	112		—		—		—		112		—		112
Total distribution fees	559		114		99		—		772		—		772
Other revenues	49		1		—		—		50		—		50
Total revenue from contracts with customers	1,813		821		115		—		2,749		—		2,749
Revenue from other sources (1)	71		7		672		139		889		99		988
Total segment gross revenues	1,884		828		787		139		3,638		99		3,737
Banking and deposit interest expense	(5)		—		—		—		(5)		—		(5)
Total segment net revenues	1,879		828		787		139		3,633		99		3,732
Elimination of intersegment revenues	(250)		(13)		(116)		—		(379)		(3)		(382)
Total net revenues	$	1,629	$	815	$	671	$	139	$	3,254	$	96	$	3,350

(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.