Prudential 2001 Annual Report Download - page 162

Download and view the complete annual report

Please find page 162 of the 2001 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 172

  • 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

Prudential Financial, Inc.
Notes to Consolidated Financial Statements
21. Commitments and Guarantees, Contingencies and Litigation (continued)
however, that the ultimate outcome of all pending litigation and regulatory matters, after consideration of applicable
reserves, should not have a material adverse effect on the Company’s financial position.
22. Quarterly Results of Operations (Unaudited)
The unaudited quarterly results of operations for the years ended December 31, 2001 and 2000 are summarized in
the table below:
For The Three Months Ended
March 31 June 30 September 30 December 31
(In Millions, Except Per Share Amounts)
2001
Total revenues ......................................................... $6,747 $7,168 $6,356 $6,906
Total benefits and expenses ............................................... 6,024 7,012 6,853 7,515
Income (loss) from continuing operations before income taxes ................... 723 156 (497) (609)(a)
Net income (loss) ....................................................... 437 195 (280) (506)(a)
Basic and diluted earnings per share — Common Stock ........................ $ 0.07 (b)
Basic and diluted earnings per share — Class B Stock .......................... $ 1.50 (b)
2000
Total revenues ......................................................... $6,838 $6,730 $6,311 $6,625
Total benefits and expenses ............................................... 6,146 6,273 6,115 7,243
Income (loss) from continuing operations before income taxes ................... 692 457 196 (618)
Net income (loss) ....................................................... 376 223 67 (268)
(a) Income from continuing operations and net income after the date of demutualization is $41 million.
(b) Earnings per share data reflects earnings for the period commencing with the date of demutualization only.
Growing and Protecting Your Wealth160