The company said Asset Management segment revenues were $3,507 million in 2023, up $738 million from $2,769 million in 2022. Management fees rose $269 million to $1,772 million.

1. 01

   The company said Asset Management segment revenues were $3,507 million in 2023, up $738 million from $2,769 million in 2022. Management fees rose $269 million to $1,772 million.

2. 02

   The company said Asset Management investment income rose $236 million in 2023 to $1,032 million. Performance allocations increased $310 million, and Fund IX was $759 million among the major sources.

3. 03

   The company said Retirement Services revenues were $29.1 billion in 2023, up $20.9 billion from $8.2 billion in 2022. Investment related gains (losses) rose $14.1 billion to $1.4 billion.

4. 04

   The company said it held unrestricted cash and cash equivalents of $15.8 billion as of December 31, 2023, along with $4.9 billion of available capacity under the AMH credit facility, AHL credit facility and AHL liquidity facility as of 2022. The effective income tax rate for 2023 was (16.5)%, and the company cited a tax benefit from the Bermuda CIT as the main factor.

Key figures

Fiscal year ended December 31, 2023

Revenue

$32.6B

Net income

$5.0B

EPS

$8.28

Operating cash flow

$6.3B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.