Prudential 2011 Annual Report Download - page 225

PRUDENTIAL FINANCIAL, INC.
Notes to Consolidated Financial Statements
18. EMPLOYEE BENEFIT PLANS (continued)
As of December 31, 2010
Level 1 Level 2 Level 3 Total
(in millions)
U.S. Equities:
Variable Life Insurance Policies:
Pooled separate accounts(11) ............................................. $ 0 $ 449 $0 $ 449
Registered investment companies .......................................... 0 0 0 0
Common trusts(2) .......................................................... 0 88 0 88
Equities .................................................................. 102 0 0 102
Subtotal .............................................................. 639
International Equities:
Variable Life Insurance Policies
Pooled separate accounts(3) .............................................. 0 51 0 51
Common trusts(4) .......................................................... 0 17 0 17
Subtotal .............................................................. 68
Fixed Maturities:
Common trusts(5) .......................................................... 0 23 0 23
U.S. government securities (federal):
Mortgage-Backed ...................................................... 0 13 0 13
Other U.S. government securities .......................................... 0 157 0 157
U.S. government securities (state & other) ....................................... 0 2 0 2
Non-U.S. government securities ............................................... 0 3 0 3
Corporate Debt:
Corporate bonds(6) ..................................................... 0 281 2 283
Asset-Backed ......................................................... 0 73 0 73
Collateralized Mortgage Obligations (CMO)(7) ............................... 0 201 0 201
Interest rate swaps (Notional amount: $322) ..................................... 0 3 0 3
Other(8) .................................................................. 10 0 4 14
Unrealized gain (loss) on investment of securities lending collateral(10) ............... 0 0 0 0
Subtotal .............................................................. 772
Short-term Investments:
Variable Life Insurance Policies
Pooled separate accounts ................................................ 0 1 0 1
Registered investment companies .............................................. 15 0 0 15
Subtotal .............................................................. 16
Total ............................................................ $127 $1,362 $6 $1,495
(1) This category invests in U.S. equity funds, primarily large cap equities whose objective is to track an index via pooled separate accounts and registered
investment companies.
(2) This category invests in U.S. equity funds, primarily large cap equities.
(3) This category invests in international equity funds, primarily large cap international equities whose objective is to track an index.
(4) This category fund invests in large cap international equity fund whose objective is to outperform an index.
(5) This category invests in U.S. bonds funds.
(6) This category invests in highly rated corporate bonds.
(7) This category invests in highly rated Collateralized Mortgage Obligations.
(8) Cash and cash equivalents, short term investments, payables and receivables and open future contract positions (including fixed income collateral).
(9) In 2011 the contractual net value of the investment of securities lending collateral invested in primarily short-term bond funds is $78 million and the
liability for securities lending collateral is $78 million.
(10) In 2010 the contractual net value of the investment of securities lending collateral invested in primarily short-term bond funds is $30 million and the
liability for securities lending collateral is $30 million.
(11) This category invests in U.S. equity funds, primarily large cap equities whose objective is to track an index.
Prudential Financial, Inc. 2011 Annual Report 223