Prudential 2005 Annual Report Download - page 155

Download and view the complete annual report

Please find page 155 of the 2005 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
20. SEGMENT INFORMATION (continued)
The summary below reconciles adjusted operating income to income from continuing operations before income taxes,
extraordinary gain on acquisition and cumulative effect of accounting change:
Years Ended
December 31,
2005 2004 2003
(in millions)
Adjusted Operating Income before income taxes for Financial Services Businesses by Segment:
Individual Life and Annuities .......................................................................... $1,003 $ 817 $ 619
Group Insurance .................................................................................... 224 174 169
Total Insurance Division .......................................................................... 1,227 991 788
Asset Management .................................................................................. 464 266 208
Financial Advisory .................................................................................. (255) (245) (111)
Retirement ......................................................................................... 498 334 192
Total Investment Division ......................................................................... 707 355 289
International Insurance ............................................................................... 1,310 917 819
International Investments ............................................................................. 110 86 (10)
Total International Insurance and Investments Division ................................................. 1,420 1,003 809
Corporate Operations ................................................................................ 93 66 21
Real Estate and Relocation Services ..................................................................... 105 101 63
Total Corporate and Other ........................................................................ 198 167 84
Adjusted Operating Income before income taxes for Financial Services Businesses ............................... 3,552 2,516 1,970
Items excluded from Adjusted Operating Income:
Realized investment gains (losses), net, and related adjustments ............................................... 672 82 (156)
Charges related to realized investment gains (losses), net .................................................... (108) (58) (43)
Investment gains (losses) on trading account assets supporting insurance liabilities, net ............................ (33) (55) —
Change in experience-rated contractholder liabilities due to asset value changes .................................. (44) 1 —
Divested businesses ................................................................................. (50) (33) (158)
Income from continuing operations before income taxes, extraordinary gain on acquisition and cumulative effect of accounting
change for Financial Services Businesses ................................................................... 3,989 2,453 1,613
Income from continuing operations before income taxes, extraordinary gain on acquisition and cumulative effect of accounting
change for Closed Block Business ........................................................................ 482 915 370
Income from continuing operations before income taxes, extraordinary gain on acquisition and cumulative effect of accounting
change .............................................................................................. $4,471 $3,368 $1,983
The Individual Life and Annuities segment results reflect deferred policy acquisition costs as if the individual annuity business
were a stand-alone operation. The elimination of intersegment costs capitalized in accordance with this policy is included in
consolidating adjustments within Corporate and Other operations.
Prudential Financial 2005 Annual Report 153