Prudential 2012 Annual Report Download - page 108

PRUDENTIAL FINANCIAL, INC.
Consolidated Statements of Financial Position
December 31, 2012 and 2011 (in millions, except share amounts)
2012 2011
ASSETS
Fixed maturities, available-for-sale, at fair value (amortized cost: 2012 – $277,654; 2011 – $240,424)(1) ..................$301,336 $254,648
Fixed maturities, held-to-maturity, at amortized cost (fair value: 2012 – $4,511; 2011 – $5,354)(1) ....................... 4,268 5,107
Trading account assets supporting insurance liabilities, at fair value(1) ............................................. 20,590 19,481
Other trading account assets, at fair value .................................................................... 6,328 5,545
Equity securities, available-for-sale, at fair value (cost: 2012 – $6,759; 2011 – $6,922) ................................ 8,277 7,535
Commercial mortgage and other loans (includes $162 and $603 measured at fair value under the fair value option at
December 31, 2012 and 2011, respectively)(1) .............................................................. 36,733 35,431
Policy loans ............................................................................................ 11,575 11,559
Other long-term investments (includes $465 and $366 measured at fair value under the fair value option at December 31, 2012
and 2011, respectively)(1) .............................................................................. 10,028 7,820
Short-term investments ................................................................................... 6,447 9,121
Total investments ................................................................................... 405,582 356,247
Cash and cash equivalents(1) .............................................................................. 18,100 14,251
Accrued investment income(1) ............................................................................. 3,127 2,793
Deferred policy acquisition costs ........................................................................... 14,100 12,517
Value of business acquired ................................................................................ 3,248 3,845
Other assets(1) ......................................................................................... 11,887 12,211
Separate account assets(1) ................................................................................ 253,254 218,380
TOTAL ASSETS ..................................................................................$709,298 $620,244
LIABILITIES AND EQUITY
LIABILITIES
Future policy benefits .................................................................................... $216,050 $170,671
Policyholders’ account balances ............................................................................ 134,413 134,558
Policyholders’ dividends .................................................................................. 7,507 5,797
Securities sold under agreements to repurchase ................................................................ 5,818 6,218
Cash collateral for loaned securities ......................................................................... 3,941 2,973
Income taxes ........................................................................................... 8,551 6,558
Short-term debt ......................................................................................... 2,484 2,336
Long-term debt ......................................................................................... 24,729 24,622
Other liabilities ......................................................................................... 11,683 12,766
Notes issued by consolidated variable interest entities (includes $1,406 and $282 measured at fair value under the fair value
option at December 31, 2012 and 2011, respectively)(1) ....................................................... 1,577 524
Separate account liabilities(1) .............................................................................. 253,254 218,380
Total liabilities ..................................................................................... 670,007 585,403
COMMITMENTS AND CONTINGENT LIABILITIES (See Note 23)
EQUITY
Preferred Stock ($.01 par value; 10,000,000 shares authorized; none issued) ......................................... 0 0
Common Stock ($.01 par value; 1,500,000,000 shares authorized; 660,111,307 and 660,111,264 shares issued at December 31,
2012 and 2011, respectively) ............................................................................ 6 6
Class B Stock ($.01 par value; 10,000,000 shares authorized; 2,000,000 shares issued and outstanding at December 31, 2012
and 2011, respectively) ................................................................................. 0 0
Additional paid-in capital ................................................................................. 24,380 24,293
Common Stock held in treasury, at cost (197,077,940 and 192,072,613 shares at December 31, 2012 and 2011,
respectively) ......................................................................................... (12,163) (11,920)
Accumulated other comprehensive income (loss) .............................................................. 10,214 5,245
Retained earnings ....................................................................................... 16,138 16,629
Total Prudential Financial, Inc. equity ................................................................... 38,575 34,253
Noncontrolling interests .................................................................................. 716 588
Total equity ........................................................................................ 39,291 34,841
TOTAL LIABILITIES AND EQUITY ................................................................ $709,298 $620,244
(1) See Note 5 for details of balances associated with variable interest entities.
See Notes to Consolidated Financial Statements
106 Prudential Financial, Inc. 2012 Annual Report