Prudential 2012 Annual Report Download - page 226

PRUDENTIAL FINANCIAL, INC.
Supplemental Combining Statements of Operations
Years Ended December 31, 2012 and 2011 (in millions)
2012 2011
Financial
Services
Businesses
Closed Block
Business Consolidated
Financial
Services
Businesses
Closed Block
Business Consolidated
REVENUES
Premiums ................................................. $62,537 $2,817 $65,354 $21,383 $2,918 $24,301
Policy charges and fee income ................................ 4,489 0 4,489 3,924 0 3,924
Net investment income ...................................... 10,508 3,153 13,661 9,910 3,214 13,124
Asset management fees and other income ........................ 2,708 44 2,752 4,812 38 4,850
Realized investment gains (losses), net
Other-than-temporary impairments on fixed maturity securities . . (939) (672) (1,611) (1,390) (812) (2,202)
Other-than-temporary impairments on fixed maturity securities
transferred to Other Comprehensive Income ................ 676 598 1,274 959 708 1,667
Other realized investment gains (losses), net ................. (1,421) 317 (1,104) 2,417 949 3,366
Total realized investment gains (losses), net .......... (1,684) 243 (1,441) 1,986 845 2,831
Total revenues ......................................... 78,558 6,257 84,815 42,015 7,015 49,030
BENEFITS AND EXPENSES
Policyholders’ benefits ...................................... 61,686 3,445 65,131 20,132 3,482 23,614
Interest credited to policyholders’ account balances ................ 4,097 137 4,234 4,345 139 4,484
Dividends to policyholders ................................... 155 2,021 2,176 152 2,571 2,723
Amortization of deferred policy acquisition costs .................. 1,466 38 1,504 2,658 37 2,695
General and administrative expenses ........................... 10,542 552 11,094 10,033 572 10,605
Total benefits and expenses ........................... 77,946 6,193 84,139 37,320 6,801 44,121
INCOME FROM CONTINUING OPERATIONS BEFORE
INCOME TAXES AND EQUITY IN EARNINGS OF
OPERATING JOINT VENTURES ......................... 612 64 676 4,695 214 4,909
Income tax expense ................................. 183 21 204 1,420 68 1,488
INCOME FROM CONTINUING OPERATIONS BEFORE
EQUITY IN EARNINGS OF OPERATING JOINT
VENTURES ............................................ 429 43 472 3,275 146 3,421
Equity in earnings of operating joint ventures, net of taxes .......... 60 0 60 182 0 182
INCOME FROM CONTINUING OPERATIONS .............. 489 43 532 3,457 146 3,603
Income (loss) from discontinued operations, net of taxes ............ 17 (2) 15 35 0 35
NET INCOME ............................................ 506 41 547 3,492 146 3,638
Less: Income attributable to noncontrolling interests ............... 78 0 78 72 0 72
NET INCOME ATTRIBUTABLE TO PRUDENTIAL
FINANCIAL, INC. ...................................... $ 428 $ 41 $ 469 $ 3,420 $ 146 $ 3,566
See Notes to Supplemental Combining Financial Information
224 Prudential Financial, Inc. 2012 Annual Report