v3.25.3
Segments - Schedule of Financial Data for Reportable Segments (Details) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Segment Reporting Information [Line Items]          
Total Segment Revenue $ 9,823 $ 7,773 $ 22,185 $ 20,831  
Total Assets 449,543   449,543   $ 377,895
Asset Management          
Segment Reporting Information [Line Items]          
Interest and other financing costs 33 21 103 51  
Total Segment Revenue 1,487 922 3,640 3,011  
Total Assets 20,469   20,469   15,256
Retirement Services          
Segment Reporting Information [Line Items]          
Other operating expenses (573) (670) (1,665) (1,601)  
Total Segment Revenue 8,336 6,851 18,545 17,820  
Total Assets 429,074   429,074   362,639
Management fees          
Segment Reporting Information [Line Items]          
Revenues 606 476 1,697 1,376  
Capital solutions fees and other, net          
Segment Reporting Information [Line Items]          
Revenues 378 181 850 617  
Operating Segments          
Segment Reporting Information [Line Items]          
Segment Income 1,573 1,465 4,445 4,024  
Total Segment Revenue 5,146 4,343 14,457 11,978  
Total Assets 436,637   436,637   368,442
Operating Segments | Asset Management          
Segment Reporting Information [Line Items]          
Fee-related performance fee 73 57 190 155  
Fee-related compensation (304) (238) (842) (698)  
Other operating expenses (192) (157) (541) (490)  
Segment Income 652 531 1,838 1,509  
Total Segment Revenue 1,148 926 3,221 2,697  
Total Assets 5,004   5,004   2,286
Operating Segments | Retirement Services          
Segment Reporting Information [Line Items]          
Other operating expenses (107) (112) (328) (342)  
Fixed income and other net investment income 3,423 2,806 9,516 7,893  
Alternative net investment income 321 236 955 670  
Strategic capital management fees 35 27 96 76  
Cost of funds (2,661) (1,983) (7,341) (5,586)  
Interest and other financing costs (140) (118) (402) (328)  
Segment Income 871 856 2,496 2,383  
Total Segment Revenue 3,779 3,069 10,567 8,639  
Total Assets 420,289   420,289   355,683
Operating Segments | Principal Investing          
Segment Reporting Information [Line Items]          
Other operating expenses (14) (17) (47) (46)  
Realized performance fees 201 331 610 600  
Realized investment income 18 17 59 42  
Principal investing compensation (155) (253) (511) (464)  
Segment Income 50 78 111 132  
Total Segment Revenue 219 348 669 642  
Total Assets 11,344   11,344   10,473
Operating Segments | Management fees | Asset Management          
Segment Reporting Information [Line Items]          
Revenues 863 710 2,449 2,034  
Operating Segments | Capital solutions fees and other, net | Asset Management          
Segment Reporting Information [Line Items]          
Revenues 212 159 582 508  
Segment Reconciling Items          
Segment Reporting Information [Line Items]          
Total Assets 12,906   12,906   $ 9,453
Segment Reconciling Items | Management fees | Retirement Services          
Segment Reporting Information [Line Items]          
Revenues $ 351 $ 320 $ 1,070 $ 890