v3.20.4
Derivative and Hedging (Tables)
 12 Months Ended
Dec. 31, 2020
Derivative Instruments And Hedging Activities Disclosure [Abstract]  
Summary of Fair Values of Derivatives Instruments Recognized in Consolidated Statements of Financial Condition

The following table presents the fair values of derivative instruments recognized in the consolidated statements of financial condition at December 31, 2020:

 

 

December 31, 2020

 

(in millions)

Assets

 

 

 

Liabilities

 

Derivative instruments

Statement of

Financial Condition

Classification

 

Fair Value

 

 

 

Statement of

Financial Condition

Classification

 

Fair Value

 

Total return swaps

Other assets

 

$

—

 

 

 

Other liabilities

 

$

50

 

Forward foreign currency exchange contracts

Other assets

 

 

13

 

 

 

Other liabilities

 

 

5

 

Total

 

 

$

13

 

 

 

 

 

$

55

 

 

 

 

 

 

 

 

 

 

 

 

 

 
Summary of Realized and Unrealized Gains (Losses) Recognized in Consolidated Statements of Income on Derivative Instruments

The following table presents realized and unrealized gains (losses) recognized in the consolidated statements of income on derivative instruments:

 

(in millions)

 

 

 

Gains (Losses)

 

Derivative Instruments

 

Statement of Income Classification

 

2020

 

 

2019

 

 

2018

 

Total return swaps

 

Nonoperating income (expense)

 

$

(93

)

 

$

(106

)

 

$

54

 

Forward foreign currency exchange contracts

 

General and administration expense

 

 

47

 

 

 

55

 

 

 

(124

)

Total gain (loss) from derivative instruments

 

$

(46

)

 

$

(51

)

 

$

(70

)