Segment Information (Tables)

12 Months Ended

Dec. 31, 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:


	December 31,
	2022		2021
	(in millions)
Advice & Wealth Management	$	35,132	$	24,986
Asset Management	7,967		10,990
Retirement & Protection Solutions	98,530		119,400
Corporate & Other	16,839		20,534
Total assets	$	158,468	$	175,910


	Years Ended December 31,
	2022		2021		2020
	(in millions)
Adjusted operating net revenues:
Advice & Wealth Management	$	8,461	$	8,021	$	6,675
Asset Management	3,506		3,682		2,891
Retirement & Protection Solutions	3,134		3,244		3,094
Corporate & Other	479		487		546
Elimination of intersegment revenues (1)	(1,316)		(1,573)		(1,377)
Total segment adjusted operating net revenues	14,264		13,861		11,829
Net realized gains (losses)	(107)		90		(11)
Revenue attributable to consolidated investment entities	99		107		71
Market impact on non-traditional long-duration products, net	16		38		10
Mean reversion related impacts	(1)		1		—
Market impact of hedges on investments	—		(22)		—
Block transfer reinsurance transaction impacts	—		(644)		—


Total net revenues per consolidated statements of operations	$	14,271	$	13,431	$	11,899

(1) Represents the elimination of intersegment revenues recognized for the years ended December 31, 2022, 2021 and 2020 in each segment as follows: Advice and Wealth Management ($847, $1,043 and $893, respectively); Asset Management ($52, $50 and $53, respectively); Retirement & Protection Solutions ($420, $478 and $433, respectively); and Corporate & Other ($(3), $2 and $(2), respectively).


	Years Ended December 31,
	2022		2021		2020
	(in millions)
Adjusted operating earnings:
Advice & Wealth Management	$	2,192	$	1,743	$	1,321
Asset Management	844		1,096		697
Retirement & Protection Solutions	630		735		480
Corporate & Other	(275)		(270)		(369)
Total segment adjusted operating earnings	3,391		3,304		2,129
Net realized gains (losses)	(97)		87		(10)
Net income (loss) attributable to consolidated investment entities	(5)		(4)		4
Market impact on non-traditional long-duration products, net	211		(656)		(375)
Mean reversion related impacts	(268)		152		87
Market impact of hedges on investments	—		(22)		—
Block transfer reinsurance transaction impacts	—		521		—
Integration and restructuring charges	(50)		(32)		(4)

Pretax income per consolidated statements of operations	$	3,182	$	3,350	$	1,831