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Segment Information (Tables) | 9 Months Ended
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Sep. 30, 2021
Segment Reporting [Abstract] |
Summary of selected financial information by segment and reconciliation to consolidated |
| September 30, 2021 |  | December 31, 2020
(in millions)
Advice & Wealth Management | $ | 22,849 |  |  | $ | 21,266 |
Asset Management | 9,213 |  |  | 8,406 |
Retirement & Protection Solutions | 116,986 |  |  | 114,850 |
Corporate & Other | 21,678 |  |  | 21,361 |
Total assets | $ | 170,726 |  |  | $ | 165,883 |
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2021 |  | 2020 | 2021 |  | 2020
| (in millions)
Adjusted operating net revenues: |  |  |  |  |  |  |
Advice & Wealth Management | $ | 2,048 |  |  | $ | 1,667 |  |  | $ | 5,907 |  |  | $ | 4,899 |
Asset Management | 915 |  |  | 739 |  |  | 2,622 |  |  | 2,093 |
Retirement & Protection Solutions | 834 |  |  | 781 |  |  | 2,429 |  |  | 2,295 |
Corporate & Other | 113 |  |  | 132 |  |  | 371 |  |  | 412 |
Eliminations (1)(2) | (395) |  |  | (342) |  |  | (1,173) |  |  | (1,006) |
Total segment adjusted operating net revenues | 3,515 |  |  | 2,977 |  |  | 10,156 |  |  | 8,693 |
Net realized gains (losses) | 14 |  |  | 4 |  |  | 81 |  |  | (19) |
Revenue attributable to consolidated investment entities | 42 |  |  | 21 |  |  | 92 |  |  | 52 |
Market impact on non-traditional long-duration products, net | (1) |  |  | 1 |  |  | 25 |  |  | (10) |
Mean reversion related impacts | — |  |  | — |  |  | 1 |  |  | — |
Market impact of hedges on investments | (23) |  |  | — |  |  | (40) |  |  | — |
Block transfer reinsurance transaction impacts | (644) |  |  | — |  |  | (644) |  |  | — |
Total net revenues per Consolidated Statements of Operations | $ | 2,903 |  |  | $ | 3,003 |  |  | $ | 9,671 |  |  | $ | 8,716 |
(1) Represents the elimination of intersegment revenues recognized for the three months ended September 30, 2021 and 2020 in each segment as follows: Advice & Wealth Management ($261 million and $219 million, respectively); Asset Management ($12 million and $13 million, respectively); Retirement & Protection Solutions ($122 million and $110 million, respectively); and Corporate & Other (nil and nil, respectively). (2) Represents the elimination of intersegment revenues recognized for the nine months ended September 30, 2021 and 2020 in each segment as follows: Advice & Wealth Management ($777 million and $649 million, respectively); Asset Management ($39 million and $39 million, respectively); Retirement & Protection Solutions ($356 million and $319 million, respectively); and Corporate & Other ($1 million and $(1) million, respectively).
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2021 |  | 2020 | 2021 |  | 2020
| (in millions)
Adjusted operating earnings: |  |  |  |  |  |  |
Advice & Wealth Management | $ | 459 |  |  | $ | 320 |  |  | $ | 1,271 |  |  | $ | 969 |
Asset Management | 285 |  |  | 198 |  |  | 766 |  |  | 496 |
Retirement & Protection Solutions | 187 |  |  | (89) |  |  | 552 |  |  | 300 |
Corporate & Other | (81) |  |  | (202) |  |  | (179) |  |  | (309) |
Total segment adjusted operating earnings | 850 |  |  | 227 |  |  | 2,410 |  |  | 1,456 |
Net realized gains (losses) | 12 |  |  | 4 |  |  | 78 |  |  | (18) |
Net income (loss) attributable to consolidated investment entities | 2 |  |  | — |  |  | (1) |  |  | (2) |
Market impact on non-traditional long-duration products, net | (94) |  |  | (431) |  |  | (577) |  |  | 239 |
Mean reversion related impacts | 9 |  |  | 17 |  |  | 107 |  |  | (30) |
Market impact of hedges on investments | (23) |  |  | — |  |  | (40) |  |  | — |
Block transfer reinsurance transaction impacts | 521 |  |  | — |  |  | 521 |  |  | — |
Integration and restructuring charges | (7) |  |  | (1) |  |  | (14) |  |  | (4) |
Pretax income per Consolidated Statements of Operations | $ | 1,270 |  |  | $ | (184) |  |  | $ | 2,484 |  |  | $ | 1,641 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599 + Details
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