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Non-U.S. Activities
 6 Months Ended
Jun. 30, 2024
Segments, Geographical Areas [Abstract]  
Non-U.S. Activities Non-U.S. Activities
We define our non-U.S. activities as those revenue-producing business activities that arise from clients which are generally serviced or managed outside the U.S. Due to the integrated nature of our business, precise segregation of our U.S. and non-U.S. activities is not possible.
Subjective estimates, assumptions and other judgments are applied to quantify the financial results and assets related to our non-U.S. activities, including our application of funds transfer pricing, our asset and liability management policies and our allocation of certain indirect corporate expenses. Management periodically reviews and updates its processes for quantifying the financial results and assets related to our non-U.S. activities.
The following table presents our U.S. and non-U.S. financial results for the periods indicated:
Three Months Ended June 30,
20242023
(In millions)
Non-U.S.(1)
U.S.Total
Non-U.S.(1)
U.S.Total
Total revenue$1,388 $1,803 $3,191 $1,400 $1,710 $3,110 
Income before income tax expense 351 561 912 433 483 916 
Six Months Ended June 30,
20242023
(In millions)
Non-U.S.(1)
U.S.Total
Non-U.S.(1)
U.S.Total
Total revenue$2,732 $3,597 $6,329 $2,696 $3,515 $6,211 
Income before income tax expense 642 868 1,510 692 912 1,604 
(1) Geographic mix is generally based on the domicile of the entity servicing the funds and is not necessarily representative of the underlying asset mix.
Management fees generated outside the U.S. were approximately 25% of total management fees in both the three and six months ended June 30, 2024, compared to approximately 26% in both the three and six months ended June 30, 2023.
Servicing fees generated outside the U.S. were approximately 47% of total servicing fees in both the three and six months ended June 30, 2024, compared to approximately 47% and 46% in the three and six months ended June 30, 2023, respectively.
Non-U.S. assets were $80.95 billion and $76.49 billion as of June 30, 2024 and 2023, respectively.