CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Cash flows from operating activities:
Net loss	$ (781)	$ (512)
Adjustments to reconcile net loss to net cash used in operating activities:
Net loss from securities transactions	172	322
Purchases of securities	(1,069)	(1,362)
Proceeds from sales of securities	1,310	926
Payments to cover securities sold, not yet purchased	(727)	(653)
Proceeds from securities sold, not yet purchased	268	124
Changes in receivables and payables relating to securities transactions	363	1,597
Changes in derivative assets and liabilities	320	(20)
(Gain) loss on disposition of assets, net	(44)	5
Depreciation and amortization	250	256
Impairment	10
Deferred taxes	(117)	(35)
Other, net	(14)	11
Changes in other operating assets and liabilities	152	(17)
Net cash provided by operating activities	93	642
Cash flows from investing activities:
Capital expenditures	(184)	(134)
Turnaround expenditures	(191)	(44)
Acquisition of businesses, net of cash acquired		(2)
Proceeds from disposition of businesses and assets	52	4
Proceeds from sale of equity method investment	9
Return of equity method investment	5	4
Other, net	5	5
Net cash used in investing activities	(304)	(167)
Cash flows from financing activities:
Investment segment contributions from non-controlling interests		1
Investment segment distributions to non-controlling interests	(216)	(5)
Partnership contributions	34	100
Partnership distributions	(154)	(207)
Purchase of additional interests in consolidated subsidiaries	(72)	(1)
Dividends and distributions to non-controlling interests in subsidiaries	(31)	(58)
Proceeds from Holding Company senior notes		766
Repayments of Holding Company senior notes		(750)
Repurchase of Holding Company senior notes	(32)
Proceeds from subsidiary borrowings	12	17
Repayments of subsidiary borrowings	(87)	(612)
Other, net	(4)	(9)
Net cash used in financing activities	(550)	(758)
Effect of exchange rate changes on cash and cash equivalents and restricted cash and restricted cash equivalents	(2)	(3)
Net decrease in cash and cash equivalents and restricted cash and restricted cash equivalents	(763)	(286)
Cash and cash equivalents and restricted cash and restricted cash equivalents, beginning of period	5,239	5,946
Cash and cash equivalents and restricted cash and restricted cash equivalents, end of period	$ 4,476	$ 5,660