Prudential 2002 Annual Report Download - page 6
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Financial Services Businesses
In millions, except per share amounts
For the years ended D ecember 31, 2002 2001 2000
RESULTS BASED O N AD JUSTED O PERATIN G IN CO ME (A)
Revenues $ 20,436 $ 19,519 $ 17,713
Benefits and expenses 18,656 18,170 15,996
Adjusted operating income before income taxes $ 1,780 $ 1,349 $ 1,717
GAAP RESULTS
Revenues $ 19,554 $ 19,343 $ 17,603
Benefits and expenses 18,733 18,865 17,073
Income from continuing operations before income taxes $ 821 $ 478 $ 530
PER SH ARE O F CO MMO N STO CK – diluted (B)
Adjusted operating income $ 2.12 $ 1.42 $ 1.92
Reconciling items:
Realized investment losses, net of related adjustments (1.49) (0.23) (0.70)
O ther reconciling items (0.17) (1.26) (1.33)
Tax benefit on above 0.90 0.67 0.52
Income from continuing operations $ 1.36 $ 0.60 $ 0.41
Consolidated Information
In millions, unless otherwise noted
As of or for the years ended D ecember 31, 2002 2001 2000
GAAP RESULTS
Total revenues $ 26,675 $ 27,071 $ 26,332
Income (loss) after income taxes:
Continuing operations $ 256 $ (107) $ 325
D iscontinued operations $ (62) $ (47) $ 73
N et income (loss):
Financial Services Businesses $ 679 $ 302 $ 311
Closed Block Business (485) (456) 87
Consolidated net income (loss) $ 194 $ (154) $ 398
FIN AN CIAL PO SITIO N
Invested assets $ 183,094 $ 165,834 $ 148,515
Total assets $ 292,746 $ 293,030 $ 272,753
Attributed equity (C):
Financial Services Businesses $ 20,562 $ 19,646
Closed Block Business 768 807
Total equity $ 21,330 $ 20,453
Assets under management (in billions) $ 373 $ 388 $ 371
Assets under management & administration (in billions) $ 556 $ 590 $ 593
4Growing and Protecting Your W ealth
Financial highlights