Prudential 2012 Annual Report Download - page 212

PRUDENTIAL FINANCIAL, INC.
Notes to Consolidated Financial Statements
22. SEGMENT INFORMATION (continued)
The U.S. Retirement Solutions and Investment Management Division and U.S. Individual Life and Group Insurance Division results
reflect deferred policy acquisition costs as if the individual annuity business and group insurance business were stand-alone operations. The
elimination of intersegment costs capitalized in accordance with this policy is included in consolidating adjustments within Corporate and
Other operations.
The summary below presents certain financial information for the Company’s reportable segments:
As Of or Year Ended December 31, 2012
Revenues
Net
Investment
Income
Policyholders’
Benefits
Interest
Credited to
Policyholders’
Account
Balances
Dividends to
Policyholders
Interest
Expense
Amortization of
Deferred Policy
Acquisition
Costs
Total
Assets
(in millions)
Financial Services Businesses:
Individual Annuities .................... $ 3,983 $ 770 $ 573 $ 452 $ 0 $ 109 $ 338 $146,893
Retirement(1) ........................ 36,595 3,203 33,317 1,695 0 20 49 168,262
Asset Management .................... 2,398 107 0 0 0 15 24 41,909
Total U.S. Retirement Solutions and
InvestmentManagementDivision.... 42,976 4,080 33,890 2,147 0 144 411 357,064
Individual Life ....................... 3,367 1,033 1,210 329 31 316 419 47,371
Group Insurance ...................... 5,601 586 4,528 228 0 7 5 38,754
Total U.S. Individual Life and Group
InsuranceDivision ............... 8,968 1,619 5,738 557 31 323 424 86,125
International Insurance ................. 29,586 4,268 20,981 1,122 124 3 1,173 183,794
Total International Insurance Division . . . 29,586 4,268 20,981 1,122 124 3 1,173 183,794
Corporate Operations .................. (397) 403 136 (22) 0 773 (42) 12,325
Total Corporate and Other .......... (397) 403 136 (22) 0 773 (42) 12,325
Total ....................... 81,133 10,370 60,745 3,804 155 1,243 1,966 639,308
Reconciling items:
Realized investment gains (losses), net, and
related adjustments .................. (3,671) (24) 0 0 0 0 0
Charges related to realized investment gains
(losses), net ........................ (108) 0 (2) (247) 0 0 (716)
Investment gains (losses) on trading account
assets supporting insurance liabilities,
net ............................... 610 0 0 0 0 0 0
Change in experience-rated contractholder
liabilities due to assets value changes . . . 0 0 0 540 0 0 0
Divested businesses ................... 673 162 943 0 0 0 216
Equity in earnings of operating joint
ventures and earnings attributable to
noncontrolling interests .............. (79) 0 0 0 0 0 0
Total Financial Services
Businesses ................ 78,558 10,508 61,686 4,097 155 1,243 1,466 639,308
Closed Block Business ..................... 6,257 3,153 3,445 137 2,021 148 38 69,990
Total per Consolidated Financial Statements .... $84,815 $13,661 $65,131 $4,234 $2,176 $1,391 $1,504 $709,298
(1) In 2012, the Company completed significant non-participating group annuity pension risk transfer transactions with two unaffiliated pension plan
sponsors. The premiums from these transactions contributed approximately $31.8 billion to revenue in the Retirement segment. These premiums were
largely offset by a corresponding increase in policyholders’ benefits.
210 Prudential Financial, Inc. 2012 Annual Report