Prudential 2003 Annual Report Download - page 168

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PRUDENTIAL FINANCIAL, INC.
Notes to Consolidated Financial Statements
19. SEGMENT INFORMATION (continued)
Year ended December 31, 2001
Revenues
Net
Investment
Income
Policyholders’
Benefits
Interest
Credited to
Policyholders’
Account
Balances
Dividends to
Policyholders
Interest
Expense
Amortization
of Deferred
Policy
Acquisition
Costs
(in millions)
Financial Services Businesses:
Individual Life and Annuities ........... $ 2,708 $ 831 $ 797 $ 396 $ 12 $ 3 $ 366
Group Insurance ...................... 3,248 547 2,490 224 — (2) 4
Total Insurance Division ........... 5,956 1,378 3,287 620 12 1 370
Investment Management ............... 1,357 42 — — — 11 76
Financial Advisory .................... 2,712 225 — — — — —
Retirement .......................... 2,394 2,148 913 977 — 13 10
Other Asset Management ............... 105 45 — — — 8 —
Total Investment Division .......... 6,568 2,460 913 977 — 32 86
International Insurance ................. 4,146 450 2,600 72 74 4 163
International Investments ............... 296 33 — — — — 1
Total International Insurance and
Investments Division ............ 4,442 483 2,600 72 74 4 164
Corporate and Other ................... 410 683 36 1 3 289 (82)
Total ........................... 17,376 5,004 6,836 1,670 89 326 538
Items excluded from adjusted operating income:
Realized investment losses, net of related
adjustments ............................ (165) — — — — — —
Related charges .......................... — — (6) — — — (20)
Total realized investment losses, net of
related charges and adjustments ........ (165) — (6) — — — (20)
Divested businesses ....................... 1,739 186 1,039 — — — 346
Total Financial Services Businesses . . 18,950 5,190 7,869 1,670 89 326 864
Closed Block Business ..................... 7,728 3,897 4,588 134 2,633 34 213
Total per Consolidated Financial Statements .... $26,678 $9,087 $12,457 $1,804 $2,722 $360 $1,077
The International Insurance and Investments division includes “Revenues” from Japan, on a GAAP basis, of
$4,824 million, $4,287 million and $3,602 million for the years ended December 31, 2003, 2002 and 2001,
respectively.
The Investment Management segment revenues include intersegment revenues of $352 million, $395 million and
$390 million for the years ended December 31, 2003, 2002 and 2001, respectively, primarily consisting of asset-based
management and administration fees. In addition, the Financial Advisory segment revenues include intersegment
revenues of $85 million, $194 million and $193 million for the years ended December 31, 2003, 2002 and 2001,
respectively, relating to the sale of proprietary investments products. Management has determined the intersegment
revenues with reference to market rates. Intersegment revenues are eliminated in consolidation.
Growing and Protecting Your Wealth166