Prudential 2001 Annual Report Download - page 103

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Prudential Financial, Inc.
Consolidated Statements of Stockholders’ Equity
Years Ended December 31, 2001, 2000 and 1999 (in Millions)
Accumulated Other Comprehensive Income (Loss)
Common
Stock Class B
Stock
Additional
Paid-in
Capital Retained
Earnings
Foreign
Currency
Translation
Adjustments
Net
Unrealized
Investment
Gains
(Losses)
Pension
Liability
Adjustment
Total
Accumulated
Other
Comprehensive
Income (Loss)
Total
Stockholders’
Equity
Balance, December 31, 1998 . . $ — $ — $ — $ 19,163 $ (31) $ 1,272 $ (9) $1,232 $20,395
Comprehensive income:
Net income ............... — — — 813 — — — — 813
Other comprehensive loss, net
of tax:
Change in foreign currency
translation adjustments . .
— — — — 13 — — 13 13
Change in net unrealized
investment gains ....... — — — — — (1,932) — (1,932) (1,932)
Additional pension liability
adjustment ........... — — — — — — 2 2 2
Other comprehensive
loss ................... (1,917)
Total comprehensive loss ...... (1,104)
Balance, December 31, 1999 . . — — — 19,976 (18) (660) (7) (685) 19,291
Comprehensive income:
Net income ............... — — — 398 — — — — 398
Other comprehensive income,
net of tax:
Change in foreign currency
translation adjustments . .
— — — — (89) — — (89) (89)
Change in net unrealized
investment gains ....... — — — — — 1,019 — 1,019 1,019
Additional pension liability
adjustment ........... — — — — — — (11) (11) (11)
Other comprehensive income . .
919
Total comprehensive
income .................. 1,317
Balance, December 31, 2000 . . — — — 20,374 (107) 359 (18) 234 20,608
Common Stock issued in
demutualization ........... 5 — 15,985 (15,990) — — — — —
Policy credits issued and cash
payments to be made to
eligible policyholders ....... — — — (4,189) — — — — (4,189)
Initial public offering of
Common Stock ............ 1 — 3,336 — — — — — 3,337
Private placement of Class B
Stock .................... — — 167 — — — — — 167
Equity security units .......... — — (26) — — — — — (26)
Comprehensive income:
Net loss before the date of
demutualization ......... — — — (195) — — — — (195)
Net income after the date of
demutualization ......... — — — 41 — — — — 41
Other comprehensive income,
net of tax:
Change in foreign currency
translation adjustments . .
— — — — (130) — — (130) (130)
Change in net unrealized
investment gains ....... — — — — — 869 — 869 869
Additional pension liability
adjustment ........... — — — — — — (29) (29) (29)
Other comprehensive income . .
710
Total comprehensive
income .................. 556
Balance, December 31, 2001 . . $ 6 $ — $19,462 $ 41 $(237) $ 1,228 $(47) $ 944 $20,453
See Notes to Consolidated Financial Statements
Prudential Financial 2001 Annual Report 101