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v3.22.1

Revenue from Contracts with Customers (Tables) | 3 Months Ended
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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.

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- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045 + Details
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