Prudential 2002 Annual Report Download - page 88
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Consolidated Statements of Financial Position
December 31, 2002 and 2001 (in millions, except share amounts)
2002 2001
ASSETS
Fixed maturities:
Available for sale, at fair value (amortized cost: 2002—$117,869; 2001—$107,464) ....................... $125,463 $109,942
Held to maturity, at amortized cost (fair value: 2002—$2,673; 2001—$395) ............................. 2,612 374
Trading account assets, at fair value .................................................................. 3,449 5,043
Equity securities, available for sale, at fair value (cost: 2002—$2,849; 2001—$2,252) .......................... 2,807 2,272
Commercial loans ................................................................................ 19,287 19,729
Policy loans .................................................................................... 8,827 8,570
Securities purchased under agreements to resell ........................................................ 4,844 4,421
Cash collateral for borrowed securities ............................................................... 4,978 5,210
Other long-term investments ....................................................................... 5,408 5,418
Short-term investments ............................................................................ 5,419 4,855
Total investments ........................................................................ 183,094 165,834
Cash and cash equivalents ......................................................................... 9,898 18,536
Accrued investment income ........................................................................ 1,790 1,828
Broker-dealer related receivables .................................................................... 5,631 7,802
Deferred policy acquisition costs .................................................................... 7,031 6,868
Other assets ..................................................................................... 14,747 15,004
Separate account assets ............................................................................ 70,555 77,158
TOTAL ASSETS ....................................................................... $292,746 $293,030
LIABILITIES AND STOCKHOLDERS’ EQUITY
LIABILITIES
Future policy benefits ............................................................................. $ 90,460 $ 86,991
Policyholders’ account balances ..................................................................... 46,280 43,333
Unpaid claims and claim adjustment expenses ......................................................... 3,428 3,408
Policyholders’ dividends .......................................................................... 3,675 2,096
Securities sold under agreements to repurchase ......................................................... 14,902 12,385
Cash collateral for loaned securities .................................................................. 10,231 9,427
Incometaxespayable ............................................................................. 1,933 1,332
Broker-dealer related payables ...................................................................... 4,838 6,445
Securities sold but not yet purchased ................................................................. 1,996 2,791
Short-term debt .................................................................................. 3,469 5,405
Long-term debt .................................................................................. 4,757 5,304
Other liabilities .................................................................................. 14,202 15,812
Separate account liabilities ......................................................................... 70,555 77,158
Total liabilities .......................................................................... 270,726 271,887
Guaranteed beneficial interest in Trust holding solely debentures of Parent ................................... 690 690
COMMITMENTS AND CONTINGENCIES (See Note 22)
STOCKHOLDERS’ EQUITY
Preferred Stock ($.01 par value; 10,000,000 shares authorized; none issued) .................................. — —
Common Stock ($.01 par value; 1,500,000,000 shares authorized; 584,511,144 and 583,582,767 shares issued at
December 31, 2002 and 2001, respectively) ......................................................... 6 6
Class B Stock ($.01 par value; 10,000,000 shares authorized; 2,000,000 shares issued and outstanding at
December 31, 2002 and 2001) .................................................................... — —
Additional paid-in capital .......................................................................... 19,513 19,462
Common stock held in treasury, at cost (24,283,271 shares at December 31, 2002) ............................. (743) —
Deferred compensation ............................................................................ (21) —
Accumulated other comprehensive income ............................................................ 2,585 944
Retained earnings (deficit) ......................................................................... (10) 41
Total stockholders’ equity ................................................................. 21,330 20,453
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY ................................... $292,746 $293,030
See Notes to Consolidated Financial Statements
Prudential Financial 2002 Annual Report 87