Prudential 2012 Annual Report Download - page 191

Download and view the complete annual report

Please find page 191 of the 2012 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.

Page out of 232

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194
  • 195
  • 196
  • 197
  • 198
  • 199
  • 200
  • 201
  • 202
  • 203
  • 204
  • 205
  • 206
  • 207
  • 208
  • 209
  • 210
  • 211
  • 212
  • 213
  • 214
  • 215
  • 216
  • 217
  • 218
  • 219
  • 220
  • 221
  • 222
  • 223
  • 224
  • 225
  • 226
  • 227
  • 228
  • 229
  • 230
  • 231
  • 232

PRUDENTIAL FINANCIAL, INC.
Notes to Consolidated Financial Statements
20. FAIR VALUE OF ASSETS AND LIABILITIES (continued)
Changes in Level 3 assets and liabilities—The following tables provide summaries of the changes in fair values of Level 3 assets
and liabilities as of the dates indicated, as well as the portion of gains or losses included in income attributable to unrealized gains or losses
related to those assets and liabilities still held at the end of their respective periods.
Year Ended December 31, 2012
Fixed Maturities Available-For-Sale
U.S.
Government
U.S.
States
Foreign
Government Corporate
Asset-
Backed
Commercial
Mortgage-
Backed
Residential
Mortgage-
Backed
(in millions)
Fair Value, beginning of period ................................. $66 $ 0 $25 $1,450 $2,528 $145 $16
Total gains (losses) (realized/unrealized):
Included in earnings:
Realized investment gains (losses), net ............... 0 0 0 (35) 21 25 0
Included in other comprehensive income (loss) ............. 0 0 0 195 102 11 0
Net investment income .................................... 0 0 0 8 30 (1) 1
Purchases .............................................. 0 10 0 375 2,640 44 0
Sales .................................................. 0 0 0 (165) (426) (28) 0
Issuances ............................................... 0 0 0 0 0 0 0
Settlements ............................................. (2) 0 0 (325) (673) (14) (6)
Foreign currency translation ................................ 0 0 0 (38) (41) (5) 0
Other(1) ............................................... (64) 0 (8) 71 0 0 0
Transfers into Level 3(2) .................................. 0 0 8 306 60 37 0
Transfers out of Level 3(2) ................................. 0 (10) (25) (212) (538) (90) 0
Fair Value, end of period ...................................... $ 0 $ 0 $ 0 $1,630 $3,703 $124 $11
Unrealized gains (losses) for assets still held(3):
Included in earnings:
Realized investment gains (losses), net ............... $ 0 $ 0 $ 0 $ (1) $ 9 $ 0 $ 0
Year Ended December 31, 2012
Trading Account Assets
U.S
Government Corporate
Asset-
Backed
Commercial
Mortgage-
Backed
Residential
Mortgage-
Backed Equity
All
Other
Activity
(in millions)
Fair Value, beginning of period .................................... $9 $148 $ 416 $ 35 $ 4 $1,296 $ 93
Total gains (losses) (realized/unrealized):
Included in earnings:
Realized investment gains (losses), net ................... 0 0 0 0 0 0 (73)
Asset management fees and other income ................ 0 (7) 17 2 1 88 2
Net investment income ....................................... 0 0 6 1 0 0 0
Purchases .................................................. 0 22 182 16 2 21 0
Sales ..................................................... 0 (12) (12) (5) (3) (170) 0
Issuances .................................................. 0 0 0 0 0 0 0
Settlements ................................................ (2) (25) (112) (4) (1) (89) 6
Foreign currency translation ................................... 0 0 (4) (1) 0 (70) 0
Other(1) ................................................... (7) 7 1 0 (1) 3 (3)
Transfers into Level 3(2) ...................................... 0 5 4 82 0 20 0
Transfers out of Level 3(2) .................................... 0 (4) (67) (118) 0 (1) 0
Fair Value, end of period .......................................... $0 $134 $ 431 $ 8 $ 2 $1,098 $ 25
Unrealized gains (losses) for assets still held(3):
Included in earnings:
Realized investment gains (losses), net ................... $0 $ 0 $ 0 $ 0 $0 $ (1) $(73)
Asset management fees and other income ................ $0 $(10) $ 14 $ 2 $ 0 $ 78 $ 2
Prudential Financial, Inc. 2012 Annual Report 189