XML 37 R20.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Property, Equipment and Intangible Assets | 12 Months Ended
--- | ---
Dec. 31, 2024
Property, Equipment and Intangible Assets [Abstract] |
Property, Equipment and Intangible Assets | 13. Property, Equipment and Intangible Assets Property, equipment and intangible assets, which are included in “Other assets” in the consolidated statements of financial condition, consist of leasehold improvements, computer equipment, software developed for the Company’s internal use, office furniture and equipment. The table below presents balances related to property, equipment and intangible assets for the periods indicated.
|  | December 31,
|  | 2024 |  | 2023
|  | (in millions)
Leasehold improvements |  | $ | 28 |  | $ | 56
Computer equipment |  |  | 67 |  |  | 90
Office furniture and equipment |  |  | 15 |  |  | 15
|  |  | 110 |  |  | 161
Less - accumulated depreciation and amortization |  |  | (51) |  |  | (80)
Property and equipment, net |  |  | 59 |  |  | 81
Internally developed software |  |  | 88 |  |  | 84
Other intangible assets |  |  | 4 |  |  | 4
Less - accumulated amortization |  |  | (44) |  |  | (45)
Intangible assets, net |  |  | 48 |  |  | 43
Total property, equipment, and intangible assets, net |  | $ | 107 |  | $ | 124
Depreciation and amortization of $67 million, $65 million and $58 million, for the three years ended December 31, 2024, 2023, and 2022, respectively, is included in “Occupancy, depreciation and amortization” expense in the consolidated statements of comprehensive income. Amortization expense related to the Company’s intangible assets as of December 31, 2024 is expected to be approximately $26 million, $16 million, and $6 million, for years ended December 31, 2025, 2026, and 2027, respectively.

X
- References No definition available. + Details
Name: | us-gaap_PropertyPlantAndEquipmentAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for intangible assets and long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent + Details
Name: | us-gaap_PropertyPlantAndEquipmentAndIntangibleAssetsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration