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Revenue from Contracts with Customers (Tables)

9 Months Ended

Sep. 30, 2025

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 September 30, 2025
			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			$	—					$	557					$	—					$	—					$	557					$	—					$	557
Institutional			—						140						—						—						140						—						140
Model delivery			—						24						—						—						24						—						24
Advisory fees			1,664						—						—						—						1,664						—						1,664
Financial planning fees			120						—						—						—						120						—						120
Transaction and other fees			102						52						17						—						171						—						171
Total management and financial advice fees			1,886						773						17						—						2,676						—						2,676
Distribution fees:
Mutual funds			227						58						—						—						285						—						285
Insurance and annuity			268						40						87						—						395						—						395
Off-balance sheet brokerage cash			21						—						—						—						21						—						21
Other products			126						—						—						—						126						—						126
Total distribution fees			642						98						87						—						827						—						827
Other revenues			67						3						—						—						70						—						70
Total revenue from contracts with customers			2,595						874						104						—						3,573						—						3,573
Revenue from other sources (1)			497						32						998						113						1,640						61						1,701
Total segment gross revenues			3,092						906						1,102						113						5,213						61						5,274
Banking and deposit interest expense			(102)						—						—						(9)						(111)						—						(111)
Total segment net revenues			2,990						906						1,102						104						5,102						61						5,163
Elimination of intersegment revenues			(239)						(27)						(113)						10						(369)						(3)						(372)
Total net revenues			$	2,751					$	879					$	989					$	114					$	4,733					$	58					$	4,791

			Three Months Ended September 30, 2024
			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			$	—					$	540					$	—					$	—					$	540					$	—					$	540
Institutional			—						143						—						—						143						—						143
Model delivery			—						21						—						—						21						—						21
Advisory fees			1,451						—						—						—						1,451						—						1,451
Financial planning fees			111						—						—						—						111						—						111
Transaction and other fees			97						52						14						—						163						—						163
Total management and financial advice fees			1,659						756						14						—						2,429						—						2,429
Distribution fees:
Mutual funds			209						57						—						—						266						—						266
Insurance and annuity			266						41						87						—						394						—						394
Off-balance sheet brokerage cash			32						—						—						—						32						—						32
Other products			107						—						—						—						107						—						107
Total distribution fees			614						98						87						—						799						—						799
Other revenues			66						5						—						(1)						70						—						70
Total revenue from contracts with customers			2,339						859						101						(1)						3,298						—						3,298
Revenue from other sources (1)			566						23						872						123						1,584						56						1,640
Total segment gross revenues			2,905						882						973						122						4,882						56						4,938
Banking and deposit interest expense			(163)						—						—						(7)						(170)						—						(170)
Total segment net revenues			2,742						882						973						115						4,712						56						4,768
Elimination of intersegment revenues			(237)						(24)						(113)						7						(367)						(4)						(371)
Total net revenues			$	2,505					$	858					$	860					$	122					$	4,345					$	52					$	4,397

			Nine Months Ended September 30, 2025
			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			$	—					$	1,602					$	—					$	—					$	1,602					$	—					$	1,602
Institutional			—						405						—						—						405						—						405
Model delivery			—						69						—						—						69						—						69
Advisory fees			4,696						—						—						—						4,696						—						4,696
Financial planning fees			350						—						—						—						350						—						350
Transaction and other fees			296						152						44						—						492						—						492
Total management and financial advice fees			5,342						2,228						44						—						7,614						—						7,614
Distribution fees:
Mutual funds			653						166						—						—						819						—						819
Insurance and annuity			769						117						250						—						1,136						—						1,136
Off-balance sheet brokerage cash			82						—						—						—						82						—						82
Other products			354						—						—						—						354						—						354
Total distribution fees			1,858						283						250						—						2,391						—						2,391
Other revenues			207						11						—						1						219						—						219
Total revenue from contracts with customers			7,407						2,522						294						1						10,224						—						10,224
Revenue from other sources (1)			1,516						60						2,670						348						4,594						154						4,748
Total segment gross revenues			8,923						2,582						2,964						349						14,818						154						14,972
Banking and deposit interest expense			(344)						—						—						(25)						(369)						—						(369)
Total segment net revenues			8,579						2,582						2,964						324						14,449						154						14,603
Elimination of intersegment revenues			(689)						(78)						(330)						25						(1,072)						(11)						(1,083)
Total net revenues			$	7,890					$	2,504					$	2,634					$	349					$	13,377					$	143					$	13,520

			Nine Months Ended September 30, 2024
			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			$	—					$	1,592					$	—					$	—					$	1,592					$	—					$	1,592
Institutional			—						424						—						—						424						—						424
Model delivery			—						60						—						—						60						—						60
Advisory fees			4,115						—						—						—						4,115						—						4,115
Financial planning fees			333						—						—						—						333						—						333
Transaction and other fees			291						154						44						—						489						—						489
Total management and financial advice fees			4,739						2,230						44						—						7,013						—						7,013
Distribution fees:
Mutual funds			604						169						—						—						773						—						773
Insurance and annuity			773						120						255						—						1,148						—						1,148
Off-balance sheet brokerage cash			122						—						—						—						122						—						122
Other products			321						—						—						—						321						—						321
Total distribution fees			1,820						289						255						—						2,364						—						2,364
Other revenues			192						10						—						—						202						—						202
Total revenue from contracts with customers			6,751						2,529						299						—						9,579						—						9,579
Revenue from other sources (1)			1,709						56						2,514						369						4,648						156						4,804
Total segment gross revenues			8,460						2,585						2,813						369						14,227						156						14,383
Banking and deposit interest expense			(514)						—						—						(22)						(536)						—						(536)
Total segment net revenues			7,946						2,585						2,813						347						13,691						156						13,847
Elimination of intersegment revenues			(698)						(71)						(327)						21						(1,075)						(9)						(1,084)
Total net revenues			$	7,248					$	2,514					$	2,486					$	368					$	12,616					$	147					$	12,763

(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 and investment income from 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
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-5

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- References

No definition available.

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