Prudential 2001 Annual Report Download - page 158

Prudential Financial, Inc.
Notes to Consolidated Financial Statements
20. Segment Information (continued)
The summary below presents total assets for the Company’s reportable segments at December 31,
Assets
2001 2000 1999
(In Millions)
Individual Life Insurance .................................................................. $ 23,488 $ 22,992 $ 22,040
Private Client Group ...................................................................... 19,195 18,426 23,157
Retail Investments ........................................................................ 24,225 27,042 28,658
Property and Casualty Insurance ............................................................ 4,323 4,763 4,380
Total U.S. Consumer Division .......................................................... 71,231 73,223 78,235
Group Insurance ......................................................................... 17,026 15,891 13,850
Other Employee Benefits .................................................................. 55,741 59,926 60,105
Total Employee Benefits Division ....................................................... 72,767 75,817 73,955
International Insurance .................................................................... 38,239 6,726 5,804
International Securities and Investments ...................................................... 3,162 3,644 3,471
Total International Division ............................................................ 41,401 10,370 9,275
Investment Management and Advisory Services ................................................ 21,097 20,251 18,174
Other Asset Management .................................................................. 7,260 10,351 7,384
Total Asset Management Division ....................................................... 28,357 30,602 25,558
Corporate and Other ...................................................................... 17,549 12,814 29,498
Total Financial Services Businesses ...................................................... 231,305 202,826 216,521
Closed Block Business .................................................................... 61,725 69,927 68,573
Total Assets ......................................................................... $293,030 $272,753 $285,094
21. Commitments and Guarantees, Contingencies and Litigation
Commitments and Guarantees
The following table presents, as of December 31, 2001, the Company’s future commitments on short-term and long-
term debt and the Units, as more fully described in Notes 11 and 12, and future minimum lease payments under non-
cancelable operating leases:
Short-term
and
Long-term
Debt Equity Security Units Operating Leases
(In Millions)
2002 ........................................................................... $ 5,405 $ — $ 311
2003 ........................................................................... 662 — 262
2004 ........................................................................... 461 — 218
2005 ........................................................................... 64 — 191
2006 ........................................................................... 69 690 172
Beyond 2006 .................................................................... 4,048 — 761
Total .......................................................................... $10,709 $ 690 $1,915
The Company occupies leased office space in many locations under various long-term leases and has entered into
numerous leases covering the long-term use of computers and other equipment. Rental expense incurred for the
years ended December 31, 2001, 2000 and 1999 was $520 million, $498 million and $456 million, respectively,
excluding expenses relating to the Company’s healthcare business.
During the normal course of its business, the Company utilizes financial instruments with off-balance sheet credit
risk such as commitments, financial guarantees and letters of credit. Commitments include commitments to
Growing and Protecting Your Wealth156