Segment Information (Tables)

6 Months Ended

Jun. 30, 2022

Summary of selected financial information by segment and reconciliation to consolidated

The following tables summarize selected financial information by segment and reconcile segment totals to those reported on the consolidated financial statements:


	June 30, 2022		December 31, 2021
	(in millions)
Advice & Wealth Management	$	29,881	$	24,986
Asset Management	10,740		10,990
Retirement & Protection Solutions	100,471		119,469
Corporate & Other	17,405		20,534
Total assets	$	158,497	$	175,979


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
	(in millions)
Adjusted operating net revenues:
Advice & Wealth Management	$	2,056	$	1,980	$	4,098	$	3,859
Asset Management	881		879		1,898		1,707
Retirement & Protection Solutions	760		808		1,532		1,595
Corporate & Other	119		119		235		258
Elimination of segment revenues (1)(2)	(337)		(399)		(689)		(778)
Total segment adjusted operating net revenues	3,479		3,387		7,074		6,641
Net realized gains (losses)	(15)		10		2		67
Revenue attributable to consolidated investment entities	20		16		37		50
Market impact on non-traditional long-duration products, net	25		21		51		26
Mean reversion related impacts	(1)		1		(1)		1
Market impact of hedges on investments	—		(17)		—		(17)

Total net revenues per consolidated statements of operations	$	3,508	$	3,418	$	7,163	$	6,768

1) Represents the elimination of intersegment revenues recognized for the three months ended June 30, 2022 and 2021 in each segment as follows: Advice & Wealth Management ($221 million and $266 million, respectively); Asset Management ($11 million and $14 million, respectively); Retirement & Protection Solutions ($105 million and $118 million, respectively); and Corporate & Other (nil and $1 million, respectively).

(2) Represents the elimination of intersegment revenues recognized for the six months ended June 30, 2022 and 2021 in each segment as follows: Advice & Wealth Management ($449 million and $516 million, respectively); Asset Management ($23 million and $27 million, respectively); Retirement & Protection Solutions ($217 million and $234 million, respectively); and Corporate & Other (nil and $1 million, respectively).


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
	(in millions)
Adjusted operating earnings:
Advice & Wealth Management	$	492	$	423	$	932	$	812
Asset Management	222		253		507		481
Retirement & Protection Solutions	179		182		370		365
Corporate & Other	(53)		(77)		(129)		(98)
Total segment adjusted operating earnings	840		781		1,680		1,560
Net realized gains (losses)	(14)		11		2		66
Net income (loss) attributable to consolidated investment entities	(1)		(2)		1		(3)
Market impact on non-traditional long-duration products, net	305		(87)		439		(483)
Mean reversion related impacts	(161)		42		(220)		98
Market impact of hedges on investments	—		(17)		—		(17)

Integration and restructuring charges	(14)		(7)		(24)		(7)
Pretax income per consolidated statements of operations	$	955	$	721	$	1,878	$	1,214