Asset Management Fees (Tables)

9 Months Ended

Sep. 30, 2023

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following table presents the sources of asset management fees on a consolidated basis through the end of June 30, 2023. Upon closing of the Sound Point Transaction and the AHP Transaction, the Company deconsolidated the transferred AssuredIM subsidiaries and reports its investment in Sound Point as an equity method investment (on a one-quarter lag). As a result, the Company no longer has asset management fee revenues on its consolidated statement of operations.

Asset Management Fees

	Third Quarter				Nine Months
	2023		2022		2023		2022
	(in millions)
Management fees	$	—	$	11	$	21	$	41
Performance fees	—		2		18		17
Reimbursable fund expenses	—		3		14		13
Total asset management fees	$	—	$	16	$	53	$	71