Derivative and Hedging (Tables)

3 Months Ended

Mar. 31, 2022

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Summary of Fair Values of Derivatives Instruments Recognized in Condensed Consolidated Statements of Financial Condition

The following table presents the fair values of derivative instruments recognized in the condensed consolidated statements of financial condition at March 31, 2022 and December 31, 2021:

(in millions)	Assets										Liabilities
Derivative instruments	Statement of Financial Condition Classification		March 31, 2022				December 31, 2021				Statement of Financial Condition Classification		March 31, 2022				December 31, 2021
Total return swaps	Other assets		$	16			$	5			Other liabilities		$	22			$	14
Forward foreign currency exchange contracts	Other assets			3				34			Other liabilities			1				—
Total			$	19			$	39					$	23			$	14

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

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

				Three Months Ended
				March 31,
(in millions)				2022				2021
Derivative Instruments		Statement of Income Classification		Gains (Losses)
Total return swaps		Nonoperating income (expense)		$	41			$	(34	)
Forward foreign currency exchange contracts		General and administration expense			(42	)			7
Total gain (loss) from derivative instruments				$	(1	)		$	(27	)