Prudential 2002 Annual Report Download - page 151
Download and view the complete annual report
Please find page 151 of the 2002 Prudential annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.PRUDENTIAL FINANCIAL, INC.
Notes to Consolidated Financial Statements
21. SEGMENT INFORMATION (continued)
The summary below presents total assets for the Company’s reportable segments at December 31,
Assets
2002 2001 2000
(in millions)
Individual Life and Annuities ................................................... $ 44,485 $ 47,358 $ 49,633
GroupInsurance ............................................................. 18,549 17,026 15,891
Property and Casualty Insurance ................................................ 4,691 4,323 4,763
Total Insurance Division .................................................. 67,725 68,707 70,287
Investment Management ...................................................... 20,271 21,236 20,630
Financial Advisory ........................................................... 16,588 20,181 18,622
Retirement ................................................................. 56,018 54,580 59,203
Other Asset Management ...................................................... 4,227 6,521 10,085
Total Investment Division ................................................. 97,104 102,518 108,540
International Insurance ........................................................ 40,741 38,239 6,726
International Investments ...................................................... 2,814 1,824 2,595
Total International Insurance and Investments Division .......................... 43,555 40,063 9,321
Corporate and Other .......................................................... 14,916 20,017 14,678
Total Financial Services Businesses .......................................... 223,300 231,305 202,826
ClosedBlockBusiness ........................................................ 69,446 61,725 69,927
Total .................................................................. $292,746 $293,030 $272,753
22. COMMITMENTS AND GUARANTEES, CONTINGENCIES AND LITIGATION
Commitments and Guarantees
The following table presents, as of December 31, 2002, the Company’s future commitments on short-term
and long-term debt and the Units, as more fully described in Notes 12 and 13, and future minimum lease
payments under non-cancelable operating leases:
Short-term
and Long-
term Debt
Equity
Security Units
Operating
Leases
(in millions)
2003 .............................................................. $3,469 $ — $ 281
2004 .............................................................. 473 — 245
2005 .............................................................. 64 — 219
2006 .............................................................. 70 690 189
2007 .............................................................. 256 — 159
Beyond 2007 ........................................................ 3,894 — 594
Total .............................................................. $8,226 $ 690 $1,687
The Company occupies leased office space in many locations under various long-term leases and has entered
into numerous leases covering the long-term use of computers and other equipment. Rental expense incurred for
the years ended December 31, 2002, 2001 and 2000 was $449 million, $520 million and $498 million,
respectively, excluding expenses relating to the Company’s healthcare business.
Growing and Protecting Your Wealth150