N-VPFS 1 a2022-96006prucolifeflexib.htm 2022 PLAZ FLEX _N-VPFS Document

FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
PSF PGIM Government Money Market Portfolio (Class I)PSF PGIM Total Return Bond Portfolio (Class I)PSF PGIM Jennison Blend Portfolio (Class I)PSF PGIM Flexible Managed Portfolio (Class I)PSF PGIM 50/50 Balanced Portfolio (Class I)
ASSETS
    Investment in the portfolios, at fair value$72,768,717 $89,169,147 $114,632,599 $7,018,823 $7,609,330 
    Net Assets$72,768,717 $89,169,147 $114,632,599 $7,018,823 $7,609,330 
NET ASSETS, representing:
    Accumulation units$72,768,717 $89,169,147 $114,632,599 $7,018,823 $7,609,330 
$72,768,717 $89,169,147 $114,632,599 $7,018,823 $7,609,330 
     Units outstanding56,002,658 29,547,049 23,627,114 1,765,754 2,063,277 
     Portfolio shares held7,276,872 6,684,344 1,560,264 186,423 224,862 
     Portfolio net asset value per share$10.00 $13.34 $73.47 $37.65 $33.84 
     Investment in portfolio shares, at cost$72,768,717 $81,034,632 $44,662,026 $3,452,891 $4,167,319 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
PSF PGIM Government Money Market Portfolio (Class I)PSF PGIM Total Return Bond Portfolio (Class I)PSF PGIM Jennison Blend Portfolio (Class I)PSF PGIM Flexible Managed Portfolio (Class I)PSF PGIM 50/50 Balanced Portfolio (Class I)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
INVESTMENT INCOME
   Dividend income$1,009,991 $— $— $— $— 
EXPENSES
   Charges for mortality and expense risk, and
       for administration944,268 1,334,880 1,945,694 110,019 115,533 
NET INVESTMENT INCOME (LOSS)65,723 (1,334,880)(1,945,694)(110,019)(115,533)
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received— — — — — 
  Net realized gain (loss) on shares redeemed— 2,496,474 13,716,120 635,441 1,276,877 
  Net change in unrealized appreciation (depreciation) on investments— (19,042,531)(56,706,429)(1,963,376)(2,777,162)
NET GAIN (LOSS) ON INVESTMENTS— (16,546,057)(42,990,309)(1,327,935)(1,500,285)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$65,723 $(17,880,937)$(44,936,003)$(1,437,954)$(1,615,818)
The accompanying notes are an integral part of these financial statements.
A1


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
PSF PGIM Jennison Value Portfolio (Class I)PSF PGIM High Yield Bond Portfolio (Class I)PSF Natural Resources Portfolio (Class I)PSF Stock Index Portfolio (Class I)PSF Global Portfolio (Class I)
ASSETS
    Investment in the portfolios, at fair value$146,743,639 $80,619,417 $3,824,704 $348,013,500 $36,493,247 
    Net Assets$146,743,639 $80,619,417 $3,824,704 $348,013,500 $36,493,247 
NET ASSETS, representing:
    Accumulation units$146,743,639 $80,619,417 $3,824,704 $348,013,500 $36,493,247 
$146,743,639 $80,619,417 $3,824,704 $348,013,500 $36,493,247 
     Units outstanding33,399,551 14,955,762 411,162 48,605,834 10,017,118 
     Portfolio shares held3,344,203 13,618,145 91,369 3,789,758 790,924 
     Portfolio net asset value per share$43.88 $5.92 $41.86 $91.83 $46.14 
     Investment in portfolio shares, at cost$67,190,884 $72,481,149 $3,035,677 $205,948,933 $16,982,489 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
PSF PGIM Jennison Value Portfolio (Class I)PSF PGIM High Yield Bond Portfolio (Class I)PSF Natural Resources Portfolio (Class I)PSF Stock Index Portfolio (Class I)PSF Global Portfolio (Class I)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
INVESTMENT INCOME
   Dividend income$— $— $— $— $— 
EXPENSES
   Charges for mortality and expense risk, and
       for administration2,425,940 1,349,359 41,133 4,693,496 599,479 
NET INVESTMENT INCOME (LOSS)(2,425,940)(1,349,359)(41,133)(4,693,496)(599,479)
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received— — — — — 
  Net realized gain (loss) on shares redeemed16,914,225 2,127,889 120,567 27,075,370 3,527,045 
  Net change in unrealized appreciation (depreciation) on investments(31,667,165)(13,645,112)588,695 (112,347,049)(13,006,930)
NET GAIN (LOSS) ON INVESTMENTS(14,752,940)(11,517,223)709,262 (85,271,679)(9,479,885)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$(17,178,880)$(12,866,582)$668,129 $(89,965,175)$(10,079,364)
The accompanying notes are an integral part of these financial statements.
A2


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
PSF PGIM Jennison Growth Portfolio (Class I)PSF Small-Cap Stock Index Portfolio (Class I)T. Rowe Price International Stock PortfolioT. Rowe Price Equity Income Portfolio (Equity Income Portfolio Class)Invesco V.I. Core Equity Fund (Series I)
ASSETS
    Investment in the portfolios, at fair value$203,877,333 $57,835,063 $11,440,704 $41,775,431 $45,049,567 
    Net Assets$203,877,333 $57,835,063 $11,440,704 $41,775,431 $45,049,567 
NET ASSETS, representing:
    Accumulation units$203,877,333 $57,835,063 $11,440,704 $41,775,431 $45,049,567 
$203,877,333 $57,835,063 $11,440,704 $41,775,431 $45,049,567 
     Units outstanding34,683,313 6,559,972 5,771,273 7,927,250 11,898,413 
     Portfolio shares held2,209,095 1,146,157 877,355 1,546,665 1,835,013 
     Portfolio net asset value per share$92.29 $50.46 $13.04 $27.01 $24.55 
     Investment in portfolio shares, at cost$60,357,625 $33,843,290 $12,387,534 $36,977,076 $50,937,497 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
PSF PGIM Jennison Growth Portfolio (Class I)PSF Small-Cap Stock Index Portfolio (Class I)T. Rowe Price International Stock PortfolioT. Rowe Price Equity Income Portfolio (Equity Income Portfolio Class)Invesco V.I. Core Equity Fund (Series I)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
INVESTMENT INCOME
   Dividend income$— $— $92,623 $829,597 $461,487 
EXPENSES
   Charges for mortality and expense risk, and
       for administration3,668,687 754,413 172,889 628,026 722,242 
NET INVESTMENT INCOME (LOSS)(3,668,687)(754,413)(80,266)201,571 (260,755)
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received— — 279,827 2,168,538 7,842,813 
  Net realized gain (loss) on shares redeemed24,800,391 4,659,101 (52,403)1,527,736 747,407 
  Net change in unrealized appreciation (depreciation) on investments(158,160,103)(17,237,739)(2,712,549)(6,133,510)(22,072,934)
NET GAIN (LOSS) ON INVESTMENTS(133,359,712)(12,578,638)(2,485,125)(2,437,236)(13,482,714)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$(137,028,399)$(13,333,051)$(2,565,391)$(2,235,665)$(13,743,469)
The accompanying notes are an integral part of these financial statements.
A3


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
Janus Henderson VIT Research Portfolio (Institutional Shares)Janus Henderson VIT Overseas Portfolio (Institutional Shares)MFS® Research Series (Initial Class)MFS® Growth Series (Initial Class)American Century VP Value Fund (Class I)
ASSETS
    Investment in the portfolios, at fair value$38,148,762 $39,793,135 $12,614,160 $48,558,326 $18,312,633 
    Net Assets$38,148,762 $39,793,135 $12,614,160 $48,558,326 $18,312,633 
NET ASSETS, representing:
    Accumulation units$38,148,762 $39,793,135 $12,614,160 $48,558,326 $18,312,633 
$38,148,762 $39,793,135 $12,614,160 $48,558,326 $18,312,633 
     Units outstanding8,516,178 9,200,344 2,521,036 8,571,614 3,454,215 
     Portfolio shares held1,208,004 1,033,051 454,728 1,011,210 1,470,894 
     Portfolio net asset value per share$31.58 $38.52 $27.74 $48.02 $12.45 
     Investment in portfolio shares, at cost$37,808,449 $33,367,761 $11,304,927 $42,533,729 $13,169,567 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
Janus Henderson VIT Research Portfolio (Institutional Shares)Janus Henderson VIT Overseas Portfolio (Institutional Shares)MFS® Research Series (Initial Class)MFS® Growth Series (Initial Class)American Century VP Value Fund (Class I)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
INVESTMENT INCOME
   Dividend income$318,421 $727,848 $67,906 $— $395,192 
EXPENSES
   Charges for mortality and expense risk, and
       for administration633,864 582,364 193,856 798,070 265,417 
NET INVESTMENT INCOME (LOSS)(315,443)145,484 (125,950)(798,070)129,775 
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received7,885,932 — 1,772,314 6,497,598 1,524,087 
  Net realized gain (loss) on shares redeemed1,312,392 912,442 651,790 2,129,614 1,201,668 
  Net change in unrealized appreciation (depreciation) on investments(27,515,147)(6,046,761)(5,422,252)(32,824,547)(3,062,904)
NET GAIN (LOSS) ON INVESTMENTS(18,316,823)(5,134,319)(2,998,148)(24,197,335)(337,149)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$(18,632,266)$(4,988,835)$(3,124,098)$(24,995,405)$(207,374)
The accompanying notes are an integral part of these financial statements.
A4


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
Franklin Small-Mid Cap Growth VIP Fund (Class 2)PSF PGIM Jennison Focused Blend Portfolio (Class I)Davis Value PortfolioAB VPS Large Cap Growth Portfolio (Class B)PSF Small-Cap Value Portfolio (Class I)
ASSETS
    Investment in the portfolios, at fair value$15,437,937 $26,517,837 $13,971,156 $6,873,681 $50,718,190 
    Net Assets$15,437,937 $26,517,837 $13,971,156 $6,873,681 $50,718,190 
NET ASSETS, representing:
    Accumulation units$15,437,937 $26,517,837 $13,971,156 $6,873,681 $50,718,190 
$15,437,937 $26,517,837 $13,971,156 $6,873,681 $50,718,190 
     Units outstanding3,689,310 6,175,049 5,919,068 2,925,471 13,895,335 
     Portfolio shares held1,468,881 613,555 2,646,052 128,600 1,655,293 
     Portfolio net asset value per share$10.51 $43.22 $5.28 $53.45 $30.64 
     Investment in portfolio shares, at cost$24,627,908 $8,862,064 $22,128,127 $6,964,433 $24,097,494 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
Franklin Small-Mid Cap Growth VIP Fund (Class 2)PSF PGIM Jennison Focused Blend Portfolio (Class I)Davis Value PortfolioAB VPS Large Cap Growth Portfolio (Class B)PSF Small-Cap Value Portfolio (Class I)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
INVESTMENT INCOME
   Dividend income$— $— $194,969 $— $— 
EXPENSES
   Charges for mortality and expense risk, and
       for administration250,383 436,482 226,408 110,302 905,516 
NET INVESTMENT INCOME (LOSS)(250,383)(436,482)(31,439)(110,302)(905,516)
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received4,676,279 — 3,431,454 1,014,238 — 
  Net realized gain (loss) on shares redeemed(708,395)3,495,345 (666,775)344,380 5,710,249 
  Net change in unrealized appreciation (depreciation) on investments(12,441,947)(13,984,256)(6,910,552)(4,372,994)(15,335,112)
NET GAIN (LOSS) ON INVESTMENTS(8,474,063)(10,488,911)(4,145,873)(3,014,376)(9,624,863)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$(8,724,446)$(10,925,393)$(4,177,312)$(3,124,678)$(10,530,379)
The accompanying notes are an integral part of these financial statements.
A5


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
Janus Henderson VIT Research Portfolio (Service Shares)PSF Mid-Cap Growth Portfolio (Class I)PSF International Growth Portfolio (Class I)AST Cohen & Steers Realty PortfolioAST J.P. Morgan Tactical Preservation Portfolio
ASSETS
    Investment in the portfolios, at fair value$6,651,465 $65,860,758 $18,393,677 $154,141,795 $1,944,152,930 
    Net Assets$6,651,465 $65,860,758 $18,393,677 $154,141,795 $1,944,152,930 
NET ASSETS, representing:
    Accumulation units$6,651,465 $65,860,758 $18,393,677 $154,141,795 $1,944,152,930 
$6,651,465 $65,860,758 $18,393,677 $154,141,795 $1,944,152,930 
     Units outstanding2,439,142 13,945,809 8,585,837 6,865,263 137,607,546 
     Portfolio shares held220,466 2,942,840 1,876,906 10,289,839 92,314,954 
     Portfolio net asset value per share$30.17 $22.38 $9.80 $14.98 $21.06 
     Investment in portfolio shares, at cost$6,493,904 $24,659,555 $12,927,277 $129,622,881 $1,964,810,887 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
Janus Henderson VIT Research Portfolio (Service Shares)PSF Mid-Cap Growth Portfolio (Class I)PSF International Growth Portfolio (Class I)AST Cohen & Steers Realty PortfolioAST J.P. Morgan Tactical Preservation Portfolio
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
INVESTMENT INCOME
   Dividend income$43,784 $— $— $— $— 
EXPENSES
   Charges for mortality and expense risk, and
       for administration128,224 1,202,186 336,824 2,341,870 35,539,141 
NET INVESTMENT INCOME (LOSS)(84,440)(1,202,186)(336,824)(2,341,870)(35,539,141)
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received1,385,981 — — — — 
  Net realized gain (loss) on shares redeemed309,351 7,877,178 1,484,843 21,591,844 3,352,364 
  Net change in unrealized appreciation (depreciation) on investments(4,856,605)(34,983,394)(10,054,502)(83,408,074)(516,367,082)
NET GAIN (LOSS) ON INVESTMENTS(3,161,273)(27,106,216)(8,569,659)(61,816,230)(513,014,718)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$(3,245,713)$(28,308,402)$(8,906,483)$(64,158,100)$(548,553,859)


The accompanying notes are an integral part of these financial statements.
A6


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
AST T. Rowe Price Large-Cap Value Portfolio**AST High Yield PortfolioAST Small-Cap Growth Opportunities Portfolio**AST Small-Cap Value PortfolioAST Mid-Cap Growth Portfolio
ASSETS
    Investment in the portfolios, at fair value$— $148,100,443 $— $310,497,063 $399,145,280 
    Net Assets$— $148,100,443 $— $310,497,063 $399,145,280 
NET ASSETS, representing:
    Accumulation units$— $148,100,443 $— $310,497,063 $399,145,280 
$— $148,100,443 $— $310,497,063 $399,145,280 
     Units outstanding— 10,177,019 — 14,001,071 16,690,526 
     Portfolio shares held— 13,475,928 — 9,321,437 33,041,828 
     Portfolio net asset value per share$— $10.99 $— $33.31 $12.08 
     Investment in portfolio shares, at cost$— $139,652,056 $— $297,330,708 $351,910,993 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
AST T. Rowe Price Large-Cap Value PortfolioAST High Yield PortfolioAST Small-Cap Growth Opportunities PortfolioAST Small-Cap Value PortfolioAST Mid-Cap Growth Portfolio
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
2/11/2022**12/31/20229/9/2022**12/31/202212/31/2022
INVESTMENT INCOME
   Dividend income$— $— $— $— $— 
EXPENSES
   Charges for mortality and expense risk, and
       for administration1,055,729 1,949,831 1,293,144 2,992,206 6,074,468 
NET INVESTMENT INCOME (LOSS)(1,055,729)(1,949,831)(1,293,144)(2,992,206)(6,074,468)
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received— — — — — 
  Net realized gain (loss) on shares redeemed250,088,249 7,360,150 18,703,447 9,399,459 24,171,787 
  Net change in unrealized appreciation (depreciation) on investments(243,971,314)(31,598,223)(67,920,629)(37,900,787)(234,736,509)
NET GAIN (LOSS) ON INVESTMENTS6,116,935 (24,238,073)(49,217,182)(28,501,328)(210,564,722)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$5,061,206 $(26,187,904)$(50,510,326)$(31,493,534)$(216,639,190)

**Subaccount was no longer available for investment as of the date presented in the Statement of Operations.

The accompanying notes are an integral part of these financial statements.
A7


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
AST Large-Cap Value PortfolioAST Loomis Sayles Large-Cap Growth Portfolio**AST MFS Growth Portfolio**AST Mid-Cap Value PortfolioAST BlackRock Low Duration Bond Portfolio**
ASSETS
    Investment in the portfolios, at fair value$1,131,726,522 $— $— $325,022,693 $— 
    Net Assets$1,131,726,522 $— $— $325,022,693 $— 
NET ASSETS, representing:
    Accumulation units$1,131,726,522 $— $— $325,022,693 $— 
$1,131,726,522 $— $— $325,022,693 $— 
     Units outstanding40,855,519 — — 13,157,252 — 
     Portfolio shares held25,962,985 — — 7,606,429 — 
     Portfolio net asset value per share$43.59 $— $— $42.73 $— 
     Investment in portfolio shares, at cost$987,503,620 $— $— $244,783,268 $— 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
AST Large-Cap Value PortfolioAST Loomis Sayles Large-Cap Growth PortfolioAST MFS Growth PortfolioAST Mid-Cap Value PortfolioAST BlackRock Low Duration Bond Portfolio
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/20226/10/2022**6/10/2022**12/31/20222/11/2022**
INVESTMENT INCOME
   Dividend income$— $— $— $— $— 
EXPENSES
   Charges for mortality and expense risk, and
       for administration13,315,401 2,277,763 1,292,102 4,748,650 260,385 
NET INVESTMENT INCOME (LOSS)(13,315,401)(2,277,763)(1,292,102)(4,748,650)(260,385)
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received— — — — — 
  Net realized gain (loss) on shares redeemed38,576,593 106,027,192 55,981,317 45,358,266 3,540,826 
  Net change in unrealized appreciation (depreciation) on investments(74,216,143)(232,603,911)(141,567,331)(83,200,581)(6,372,732)
NET GAIN (LOSS) ON INVESTMENTS(35,639,550)(126,576,719)(85,586,014)(37,842,315)(2,831,906)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$(48,954,951)$(128,854,482)$(86,878,116)$(42,590,965)$(3,092,291)

**Subaccount was no longer available for investment as of the date presented in the Statement of Operations.

The accompanying notes are an integral part of these financial statements.
A8


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
AST T. Rowe Price Natural Resources PortfolioAST T. Rowe Price Asset Allocation PortfolioAST MFS Global Equity PortfolioAST J.P. Morgan International Equity PortfolioAST Wellington Management Hedged Equity Portfolio
ASSETS
    Investment in the portfolios, at fair value$158,783,813 $9,924,177,062 $295,683,495 $139,707,741 $1,118,026,278 
    Net Assets$158,783,813 $9,924,177,062 $295,683,495 $139,707,741 $1,118,026,278 
NET ASSETS, representing:
    Accumulation units$158,783,813 $9,924,177,062 $295,683,495 $139,707,741 $1,118,026,278 
$158,783,813 $9,924,177,062 $295,683,495 $139,707,741 $1,118,026,278 
     Units outstanding12,219,547 542,541,563 12,926,707 10,000,901 69,132,449 
     Portfolio shares held5,490,450 279,869,630 11,200,132 4,317,297 58,169,942 
     Portfolio net asset value per share$28.92 $35.46 $26.40 $32.36 $19.22 
     Investment in portfolio shares, at cost$119,774,744 $8,568,237,473 $223,170,348 $125,568,931 $883,901,952 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
AST T. Rowe Price Natural Resources PortfolioAST T. Rowe Price Asset Allocation PortfolioAST MFS Global Equity PortfolioAST J.P. Morgan International Equity PortfolioAST Wellington Management Hedged Equity Portfolio
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
INVESTMENT INCOME
   Dividend income$— $— $— $— $— 
EXPENSES
   Charges for mortality and expense risk, and
       for administration2,576,108 163,967,203 4,117,391 2,349,385 18,059,748 
NET INVESTMENT INCOME (LOSS)(2,576,108)(163,967,203)(4,117,391)(2,349,385)(18,059,748)
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received— — — — — 
  Net realized gain (loss) on shares redeemed41,298,428 628,464,724 27,910,189 6,637,760 99,400,771 
  Net change in unrealized appreciation (depreciation) on investments(32,586,031)(3,022,815,700)(108,555,051)(56,403,495)(225,985,067)
NET GAIN (LOSS) ON INVESTMENTS8,712,397 (2,394,350,976)(80,644,862)(49,765,735)(126,584,296)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$6,136,289 $(2,558,318,179)$(84,762,253)$(52,115,120)$(144,644,044)


The accompanying notes are an integral part of these financial statements.
A9


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
AST Capital Growth Asset Allocation PortfolioAST Academic Strategies Asset Allocation PortfolioAST Balanced Asset Allocation PortfolioAST Preservation Asset Allocation PortfolioAST Prudential Growth Allocation Portfolio
ASSETS
    Investment in the portfolios, at fair value$6,865,096,952 $1,480,246,245 $7,796,818,212 $2,379,360,910 $7,777,839,752 
    Net Assets$6,865,096,952 $1,480,246,245 $7,796,818,212 $2,379,360,910 $7,777,839,752 
NET ASSETS, representing:
    Accumulation units$6,865,096,952 $1,480,246,245 $7,796,818,212 $2,379,360,910 $7,777,839,752 
$6,865,096,952 $1,480,246,245 $7,796,818,212 $2,379,360,910 $7,777,839,752 
     Units outstanding347,065,124 108,587,271 444,810,017 167,992,362 448,826,975 
     Portfolio shares held286,164,942 90,534,939 360,463,163 134,731,648 421,791,744 
     Portfolio net asset value per share$23.99 $16.35 $21.63 $17.66 $18.44 
     Investment in portfolio shares, at cost$5,061,641,501 $1,309,317,765 $6,462,312,449 $2,102,138,157 $6,834,164,282 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
AST Capital Growth Asset Allocation PortfolioAST Academic Strategies Asset Allocation PortfolioAST Balanced Asset Allocation PortfolioAST Preservation Asset Allocation PortfolioAST Prudential Growth Allocation Portfolio
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
INVESTMENT INCOME
   Dividend income$— $— $— $— $— 
EXPENSES
   Charges for mortality and expense risk, and
       for administration117,698,203 29,570,279 91,544,966 44,531,374 136,054,599 
NET INVESTMENT INCOME (LOSS)(117,698,203)(29,570,279)(91,544,966)(44,531,374)(136,054,599)
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received— — — — — 
  Net realized gain (loss) on shares redeemed715,855,121 196,446,364 518,864,702 253,448,129 827,253,068 
  Net change in unrealized appreciation (depreciation) on investments(2,421,183,345)(532,956,528)(1,869,938,462)(867,020,425)(3,183,478,641)
NET GAIN (LOSS) ON INVESTMENTS(1,705,328,224)(336,510,164)(1,351,073,760)(613,572,296)(2,356,225,573)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$(1,823,026,427)$(366,080,443)$(1,442,618,726)$(658,103,670)$(2,492,280,172)


The accompanying notes are an integral part of these financial statements.
A10


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
AST Advanced Strategies PortfolioAST Large-Cap Growth PortfolioAST Government Money Market PortfolioAST Small-Cap Growth PortfolioAST BlackRock/Loomis Sayles Bond Portfolio**
ASSETS
    Investment in the portfolios, at fair value$4,342,413,883 $1,386,610,142 $383,307,462 $303,447,445 $— 
    Net Assets$4,342,413,883 $1,386,610,142 $383,307,462 $303,447,445 $— 
NET ASSETS, representing:
    Accumulation units$4,342,413,883 $1,386,610,142 $383,307,462 $303,447,445 $— 
$4,342,413,883 $1,386,610,142 $383,307,462 $303,447,445 $— 
     Units outstanding233,124,768 42,169,183 41,470,328 11,002,333 — 
     Portfolio shares held191,127,372 27,473,948 383,307,462 5,091,400 — 
     Portfolio net asset value per share$22.72 $50.47 $1.00 $59.60 $— 
     Investment in portfolio shares, at cost$3,297,602,357 $1,294,779,261 $383,307,462 $283,672,365 $— 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
AST Advanced Strategies PortfolioAST Large-Cap Growth PortfolioAST Government Money Market PortfolioAST Small-Cap Growth PortfolioAST BlackRock/Loomis Sayles Bond Portfolio
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/20222/11/2022**
INVESTMENT INCOME
   Dividend income$— $— $4,699,278 $— $— 
EXPENSES
   Charges for mortality and expense risk, and
       for administration72,170,801 16,071,759 4,172,343 3,492,840 2,427,776 
NET INVESTMENT INCOME (LOSS)(72,170,801)(16,071,759)526,935 (3,492,840)(2,427,776)
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received— — — — — 
  Net realized gain (loss) on shares redeemed440,582,526 71,943,846 — 15,009,532 94,579,192 
  Net change in unrealized appreciation (depreciation) on investments(1,487,234,541)(509,232,566)— (117,722,886)(145,523,574)
NET GAIN (LOSS) ON INVESTMENTS(1,046,652,015)(437,288,720)— (102,713,354)(50,944,382)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$(1,118,822,816)$(453,360,479)$526,935 $(106,206,194)$(53,372,158)

**Subaccount was no longer available for investment as of the date presented in the Statement of Operations.


The accompanying notes are an integral part of these financial statements.
A11


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
AST International Value PortfolioAST International Growth PortfolioAST Investment Grade Bond PortfolioAST Core Fixed Income PortfolioAST Cohen & Steers Global Realty Portfolio
ASSETS
    Investment in the portfolios, at fair value$95,001,672 $208,400,376 $10,864,614,887 $2,225,902,206 $42,666,410 
    Net Assets$95,001,672 $208,400,376 $10,864,614,887 $2,225,902,206 $42,666,410 
NET ASSETS, representing:
    Accumulation units$95,001,672 $208,400,376 $10,864,614,887 $2,225,902,206 $42,666,410 
$95,001,672 $208,400,376 $10,864,614,887 $2,225,902,206 $42,666,410 
     Units outstanding8,048,792 12,468,225 860,829,601 191,998,113 2,725,148 
     Portfolio shares held4,602,794 9,634,784 1,329,818,224 178,931,045 3,109,797 
     Portfolio net asset value per share$20.64 $21.63 $8.17 $12.44 $13.72 
     Investment in portfolio shares, at cost$87,003,725 $169,489,570 $10,915,436,221 $2,446,802,532 $40,664,700 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
AST International Value PortfolioAST International Growth PortfolioAST Investment Grade Bond PortfolioAST Core Fixed Income PortfolioAST Cohen & Steers Global Realty Portfolio
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
INVESTMENT INCOME
   Dividend income$— $— $— $— $— 
EXPENSES
   Charges for mortality and expense risk, and
       for administration1,318,977 2,467,900 89,394,332 31,047,144 675,985 
NET INVESTMENT INCOME (LOSS)(1,318,977)(2,467,900)(89,394,332)(31,047,144)(675,985)
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received— — — — — 
  Net realized gain (loss) on shares redeemed3,828,577 7,127,507 (102,376,014)(96,389,417)4,624,882 
  Net change in unrealized appreciation (depreciation) on investments(18,085,243)(102,272,653)(67,483,263)(346,274,979)(21,963,255)
NET GAIN (LOSS) ON INVESTMENTS(14,256,666)(95,145,146)(169,859,277)(442,664,396)(17,338,373)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$(15,575,643)$(97,613,046)$(259,253,609)$(473,711,540)$(18,014,358)
The accompanying notes are an integral part of these financial statements.
A12


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
AST Emerging Markets Equity PortfolioAST Goldman Sachs Small-Cap Value Portfolio**AST Moderate Multi-Asset Portfolio**AST J.P. Morgan Global Thematic PortfolioProFund VP Consumer Services
ASSETS
    Investment in the portfolios, at fair value$138,937,794 $— $— $1,648,037,631 $444,861 
    Net Assets$138,937,794 $— $— $1,648,037,631 $444,861 
NET ASSETS, representing:
    Accumulation units$138,937,794 $— $— $1,648,037,631 $444,861 
$138,937,794 $— $— $1,648,037,631 $444,861 
     Units outstanding16,586,968 — — 97,624,303 15,170 
     Portfolio shares held17,280,820 — — 86,647,615 8,493 
     Portfolio net asset value per share$8.04 $— $— $19.02 $52.38 
     Investment in portfolio shares, at cost$144,703,230 $— $— $1,353,342,943 $586,718 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
AST Emerging Markets Equity PortfolioAST Goldman Sachs Small-Cap Value PortfolioAST Moderate Multi-Asset PortfolioAST J.P. Morgan Global Thematic PortfolioProFund VP Consumer Services
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/20226/10/2022**12/2/2022**12/31/202212/31/2022
INVESTMENT INCOME
   Dividend income$— $— $— $— $— 
EXPENSES
   Charges for mortality and expense risk, and
       for administration2,279,432 1,655,754 39,020,009 28,125,027 5,911 
NET INVESTMENT INCOME (LOSS)(2,279,432)(1,655,754)(39,020,009)(28,125,027)(5,911)
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received— — — — 5,910 
  Net realized gain (loss) on shares redeemed1,207,109 95,932,824 738,171,045 179,348,769 (52,358)
  Net change in unrealized appreciation (depreciation) on investments(50,629,312)(133,059,591)(1,334,485,883)(614,128,745)(174,443)
NET GAIN (LOSS) ON INVESTMENTS(49,422,203)(37,126,767)(596,314,838)(434,779,976)(220,891)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$(51,701,635)$(38,782,521)$(635,334,847)$(462,905,003)$(226,802)

**Subaccount was no longer available for investment as of the date presented in the Statement of Operations.

The accompanying notes are an integral part of these financial statements.
A13


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
ProFund VP Consumer GoodsProFund VP FinancialsProFund VP Health CareProFund VP IndustrialsProFund VP Mid-Cap Growth
ASSETS
    Investment in the portfolios, at fair value$168,009 $414,994 $1,471,571 $418,718 $681,469 
    Net Assets$168,009 $414,994 $1,471,571 $418,718 $681,469 
NET ASSETS, representing:
    Accumulation units$168,009 $414,994 $1,471,571 $418,718 $681,469 
$168,009 $414,994 $1,471,571 $418,718 $681,469 
     Units outstanding7,290 23,116 42,168 16,434 29,019 
     Portfolio shares held3,345 9,827 19,769 5,044 21,464 
     Portfolio net asset value per share$50.22 $42.23 $74.44 $83.02 $31.75 
     Investment in portfolio shares, at cost$185,181 $396,543 $1,405,069 $367,998 $843,177 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
ProFund VP Consumer GoodsProFund VP FinancialsProFund VP Health CareProFund VP IndustrialsProFund VP Mid-Cap Growth
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
INVESTMENT INCOME
   Dividend income$116 $504 $— $— $— 
EXPENSES
   Charges for mortality and expense risk, and
       for administration2,906 7,472 21,464 5,068 8,085 
NET INVESTMENT INCOME (LOSS)(2,790)(6,968)(21,464)(5,068)(8,085)
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received9,163 6,590 101,420 6,981 165,297 
  Net realized gain (loss) on shares redeemed18,526 46,429 38,197 15,398 (56,422)
  Net change in unrealized appreciation (depreciation) on investments(101,769)(167,731)(322,561)(110,690)(324,308)
NET GAIN (LOSS) ON INVESTMENTS(74,080)(114,712)(182,944)(88,311)(215,433)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$(76,870)$(121,680)$(204,408)$(93,379)$(223,518)


The accompanying notes are an integral part of these financial statements.
A14


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
ProFund VP Mid-Cap ValueProFund VP Real EstateProFund VP Small-Cap GrowthProFund VP Small-Cap ValueProFund VP Telecommunications
ASSETS
    Investment in the portfolios, at fair value$505,679 $205,383 $535,826 $277,518 $67,822 
    Net Assets$505,679 $205,383 $535,826 $277,518 $67,822 
NET ASSETS, representing:
    Accumulation units$505,679 $205,383 $535,826 $277,518 $67,822 
$505,679 $205,383 $535,826 $277,518 $67,822 
     Units outstanding22,975 11,224 19,506 12,801 6,311 
     Portfolio shares held12,799 3,787 19,979 6,968 2,323 
     Portfolio net asset value per share$39.51 $54.23 $26.82 $39.83 $29.20 
     Investment in portfolio shares, at cost$502,420 $226,373 $641,174 $297,185 $70,791 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
ProFund VP Mid-Cap ValueProFund VP Real EstateProFund VP Small-Cap GrowthProFund VP Small-Cap ValueProFund VP Telecommunications
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
INVESTMENT INCOME
   Dividend income$921 $1,956 $— $— $1,538 
EXPENSES
   Charges for mortality and expense risk, and
       for administration7,545 2,995 6,181 4,156 1,134 
NET INVESTMENT INCOME (LOSS)(6,624)(1,039)(6,181)(4,156)404 
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received92,763 18,662 101,386 62,215 — 
  Net realized gain (loss) on shares redeemed14,773 3,339 (28,522)(22,448)199 
  Net change in unrealized appreciation (depreciation) on investments(182,184)(122,620)(259,782)(99,831)(26,291)
NET GAIN (LOSS) ON INVESTMENTS(74,648)(100,619)(186,918)(60,064)(26,092)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$(81,272)$(101,658)$(193,099)$(64,220)$(25,688)
The accompanying notes are an integral part of these financial statements.
A15


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
ProFund VP UtilitiesProFund VP Large-Cap GrowthProFund VP Large-Cap ValueAST Jennison Large-Cap Growth Portfolio**Allspring VT International Equity Fund (Class 1)
ASSETS
    Investment in the portfolios, at fair value$624,825 $605,321 $1,027,700 $— $106,402 
    Net Assets$624,825 $605,321 $1,027,700 $— $106,402 
NET ASSETS, representing:
    Accumulation units$624,825 $605,321 $1,027,700 $— $106,402 
$624,825 $605,321 $1,027,700 $— $106,402 
     Units outstanding27,286 20,620 47,014 — 6,216 
     Portfolio shares held15,056 12,703 22,782 — 64,098 
     Portfolio net asset value per share$41.50 $47.65 $45.11 $— $1.66 
     Investment in portfolio shares, at cost$626,349 $750,702 $929,882 $— $186,365 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
ProFund VP UtilitiesProFund VP Large-Cap GrowthProFund VP Large-Cap ValueAST Jennison Large-Cap Growth PortfolioAllspring VT International Equity Fund (Class 1)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/20226/10/2022**12/31/2022
INVESTMENT INCOME
   Dividend income$5,390 $— $6,212 $— $4,452 
EXPENSES
   Charges for mortality and expense risk, and
       for administration6,271 13,631 13,548 1,847,947 1,704 
NET INVESTMENT INCOME (LOSS)(881)(13,631)(7,336)(1,847,947)2,748 
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received5,877 234,022 17,247 — — 
  Net realized gain (loss) on shares redeemed322 (74,242)56,156 48,400,736 (3,443)
  Net change in unrealized appreciation (depreciation) on investments(14,049)(640,820)(196,425)(198,041,353)(15,251)
NET GAIN (LOSS) ON INVESTMENTS(7,850)(481,040)(123,022)(149,640,617)(18,694)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$(8,731)$(494,671)$(130,358)$(151,488,564)$(15,946)

**Subaccount was no longer available for investment as of the date presented in the Statement of Operations.

The accompanying notes are an integral part of these financial statements.
A16


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
Allspring VT Omega Growth Fund (Class 1)Allspring VT Small Cap Growth Fund (Class 1)AST Bond Portfolio 2022AST Quantitative Modeling PortfolioAST BlackRock Global Strategies Portfolio
ASSETS
    Investment in the portfolios, at fair value$343,125 $212,861 $360,243 $911,892,056 $1,172,122,345 
    Net Assets$343,125 $212,861 $360,243 $911,892,056 $1,172,122,345 
NET ASSETS, representing:
    Accumulation units$343,125 $212,861 $360,243 $911,892,056 $1,172,122,345 
$343,125 $212,861 $360,243 $911,892,056 $1,172,122,345 
     Units outstanding63,694 7,337 30,494 60,993,644 91,613,044 
     Portfolio shares held16,433 26,475 24,242 46,055,154 77,265,810 
     Portfolio net asset value per share$20.88 $8.04 $14.86 $19.80 $15.17 
     Investment in portfolio shares, at cost$427,790 $253,619 $359,764 $739,476,251 $1,010,399,233 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
Allspring VT Omega Growth Fund (Class 1)Allspring VT Small Cap Growth Fund (Class 1)AST Bond Portfolio 2022AST Quantitative Modeling PortfolioAST BlackRock Global Strategies Portfolio
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
INVESTMENT INCOME
   Dividend income$— $— $— $— $— 
EXPENSES
   Charges for mortality and expense risk, and
       for administration6,333 4,460 708,668 9,328,181 20,571,865 
NET INVESTMENT INCOME (LOSS)(6,333)(4,460)(708,668)(9,328,181)(20,571,865)
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received89,308 41,183 — — — 
  Net realized gain (loss) on shares redeemed270 14,310 (182,074)50,235,511 98,708,600 
  Net change in unrealized appreciation (depreciation) on investments(291,842)(184,454)(465,010)(289,254,391)(409,917,895)
NET GAIN (LOSS) ON INVESTMENTS(202,264)(128,961)(647,084)(239,018,880)(311,209,295)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$(208,597)$(133,421)$(1,355,752)$(248,347,061)$(331,781,160)
The accompanying notes are an integral part of these financial statements.
A17


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
Allspring VT Opportunity Fund (Class 1)AST Prudential Core Bond Portfolio**AST Bond Portfolio 2023AST MFS Growth Allocation PortfolioAST Western Asset Emerging Markets Debt Portfolio
ASSETS
    Investment in the portfolios, at fair value$501,380 $— $57,122,628 $561,007,607 $7,733,588 
    Net Assets$501,380 $— $57,122,628 $561,007,607 $7,733,588 
NET ASSETS, representing:
    Accumulation units$501,380 $— $57,122,628 $561,007,607 $7,733,588 
$501,380 $— $57,122,628 $561,007,607 $7,733,588 
     Units outstanding17,124 — 5,891,235 36,702,773 807,309 
     Portfolio shares held22,544 — 4,666,881 31,080,754 724,797 
     Portfolio net asset value per share$22.24 $— $12.24 $18.05 $10.67 
     Investment in portfolio shares, at cost$487,572 $— $57,100,905 $501,153,870 $8,319,580 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
Allspring VT Opportunity Fund (Class 1)AST Prudential Core Bond PortfolioAST Bond Portfolio 2023AST MFS Growth Allocation PortfolioAST Western Asset Emerging Markets Debt Portfolio
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/20222/11/2022**12/31/202212/31/202212/31/2022
INVESTMENT INCOME
   Dividend income$— $— $— $— $— 
EXPENSES
   Charges for mortality and expense risk, and
       for administration10,332 559,534 578,346 9,780,430 62,563 
NET INVESTMENT INCOME (LOSS)(10,332)(559,534)(578,346)(9,780,430)(62,563)
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received109,311 — — — — 
  Net realized gain (loss) on shares redeemed96,009 17,499,052 (25,416)68,771,291 (185,851)
  Net change in unrealized appreciation (depreciation) on investments(370,882)(33,182,378)(358,381)(251,226,658)(1,431,660)
NET GAIN (LOSS) ON INVESTMENTS(165,562)(15,683,326)(383,797)(182,455,367)(1,617,511)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$(175,894)$(16,242,860)$(962,143)$(192,235,797)$(1,680,074)

**Subaccount was no longer available for investment as of the date presented in the Statement of Operations.
.
The accompanying notes are an integral part of these financial statements.
A18


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
AST MFS Large-Cap Value Portfolio**AST Bond Portfolio 2024AST ClearBridge Dividend Growth PortfolioAST Multi-Sector Fixed Income PortfolioAST Large-Cap Core Portfolio
ASSETS
    Investment in the portfolios, at fair value$— $2,006,671 $163,810,437 $10,399,992,334 $210,976,091 
    Net Assets$— $2,006,671 $163,810,437 $10,399,992,334 $210,976,091 
NET ASSETS, representing:
    Accumulation units$— $2,006,671 $163,810,437 $10,399,992,334 $210,976,091 
$— $2,006,671 $163,810,437 $10,399,992,334 $210,976,091 
     Units outstanding— 210,103 7,272,497 1,026,297,962 10,603,953 
     Portfolio shares held— 173,587 6,078,309 849,672,576 8,273,572 
     Portfolio net asset value per share$— $11.56 $26.95 $12.24 $25.50 
     Investment in portfolio shares, at cost$— $2,004,692 $125,958,735 $9,710,599,672 $226,199,513 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
AST MFS Large-Cap Value PortfolioAST Bond Portfolio 2024AST ClearBridge Dividend Growth PortfolioAST Multi-Sector Fixed Income PortfolioAST Large-Cap Core Portfolio
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
2/11/2022**12/31/202212/31/202212/31/202212/31/2022
INVESTMENT INCOME
   Dividend income$— $— $— $— $— 
EXPENSES
   Charges for mortality and expense risk, and
       for administration346,453 28,189 2,131,740 225,047,299 2,738,321 
NET INVESTMENT INCOME (LOSS)(346,453)(28,189)(2,131,740)(225,047,299)(2,738,321)
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received— — — — — 
  Net realized gain (loss) on shares redeemed73,358,292 (24,132)17,023,524 154,845,336 (5,207,558)
  Net change in unrealized appreciation (depreciation) on investments(86,689,320)(28,274)(33,167,688)(3,176,488,851)(46,019,983)
NET GAIN (LOSS) ON INVESTMENTS(13,331,028)(52,406)(16,144,164)(3,021,643,515)(51,227,541)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$(13,677,481)$(80,595)$(18,275,904)$(3,246,690,814)$(53,965,862)

**Subaccount was no longer available for investment as of the date presented in the Statement of Operations.

The accompanying notes are an integral part of these financial statements.
A19


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
AST Bond Portfolio 2025AST T. Rowe Price Growth Opportunities PortfolioAST T. Rowe Price Diversified Real Growth PortfolioAST Prudential Flexible Multi-Strategy PortfolioAST Franklin 85/15 Diversified Allocation Portfolio
ASSETS
    Investment in the portfolios, at fair value$2,224,019 $1,652,153,001 $109,957,766 $82,983,190 $292,731,788 
    Net Assets$2,224,019 $1,652,153,001 $109,957,766 $82,983,190 $292,731,788 
NET ASSETS, representing:
    Accumulation units$2,224,019 $1,652,153,001 $109,957,766 $82,983,190 $292,731,788 
$2,224,019 $1,652,153,001 $109,957,766 $82,983,190 $292,731,788 
     Units outstanding206,542 109,362,121 7,543,659 6,242,817 23,246,586 
     Portfolio shares held170,423 96,560,666 6,700,656 5,652,806 20,790,610 
     Portfolio net asset value per share$13.05 $17.11 $16.41 $14.68 $14.08 
     Investment in portfolio shares, at cost$2,283,672 $1,486,630,776 $87,243,841 $69,637,909 $268,772,708 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
AST Bond Portfolio 2025AST T. Rowe Price Growth Opportunities PortfolioAST T. Rowe Price Diversified Real Growth PortfolioAST Prudential Flexible Multi-Strategy PortfolioAST Franklin 85/15 Diversified Allocation Portfolio
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
INVESTMENT INCOME
   Dividend income$— $— $— $— $— 
EXPENSES
   Charges for mortality and expense risk, and
       for administration42,440 32,921,835 755,750 561,772 5,706,796 
NET INVESTMENT INCOME (LOSS)(42,440)(32,921,835)(755,750)(561,772)(5,706,796)
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received— — — — — 
  Net realized gain (loss) on shares redeemed(61,653)354,541,623 5,467,256 2,794,767 46,833,782 
  Net change in unrealized appreciation (depreciation) on investments(90,710)(1,006,198,496)(29,533,253)(21,282,437)(172,867,099)
NET GAIN (LOSS) ON INVESTMENTS(152,363)(651,656,873)(24,065,997)(18,487,670)(126,033,317)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$(194,803)$(684,578,708)$(24,821,747)$(19,049,442)$(131,740,113)


The accompanying notes are an integral part of these financial statements.
A20


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
AST Bond Portfolio 2026AST Global Bond PortfolioAST QMA International Core Equity PortfolioBlackRock Global Allocation V.I. Fund (Class III)JPMorgan Insurance Trust Income Builder Portfolio (Class 2)
ASSETS
    Investment in the portfolios, at fair value$4,525,908 $144,184,224 $8,957,731 $53,947,551 $17,873,422 
    Net Assets$4,525,908 $144,184,224 $8,957,731 $53,947,551 $17,873,422 
NET ASSETS, representing:
    Accumulation units$4,525,908 $144,184,224 $8,957,731 $53,947,551 $17,873,422 
$4,525,908 $144,184,224 $8,957,731 $53,947,551 $17,873,422 
     Units outstanding487,828 15,712,193 794,901 4,240,443 1,510,487 
     Portfolio shares held413,325 13,525,725 693,323 4,544,865 1,840,723 
     Portfolio net asset value per share$10.95 $10.66 $12.92 $11.87 $9.71 
     Investment in portfolio shares, at cost$4,639,617 $162,417,071 $8,315,915 $65,191,436 $19,465,267 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
AST Bond Portfolio 2026AST Global Bond PortfolioAST QMA International Core Equity PortfolioBlackRock Global Allocation V.I. Fund (Class III)JPMorgan Insurance Trust Income Builder Portfolio (Class 2)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
INVESTMENT INCOME
   Dividend income$— $— $— $— $736,366 
EXPENSES
   Charges for mortality and expense risk, and
       for administration92,053 1,679,150 54,819 346,762 122,471 
NET INVESTMENT INCOME (LOSS)(92,053)(1,679,150)(54,819)(346,762)613,895 
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received— — — 896,047 597,679 
  Net realized gain (loss) on shares redeemed(165,732)(5,325,499)78,610 (1,162,914)(127,256)
  Net change in unrealized appreciation (depreciation) on investments(338,431)(17,503,690)(1,735,406)(10,705,475)(4,091,058)
NET GAIN (LOSS) ON INVESTMENTS(504,163)(22,829,189)(1,656,796)(10,972,342)(3,620,635)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$(596,216)$(24,508,339)$(1,711,615)$(11,319,104)$(3,006,740)



The accompanying notes are an integral part of these financial statements.
A21


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
AST Bond Portfolio 2027NVIT Emerging Markets Fund (Class D)AST Bond Portfolio 2028AST Bond Portfolio 2029AST American Funds Growth Allocation Portfolio
ASSETS
    Investment in the portfolios, at fair value$6,886,243 $3,183,671 $24,825,680 $2,083,244 $454,828,100 
    Net Assets$6,886,243 $3,183,671 $24,825,680 $2,083,244 $454,828,100 
NET ASSETS, representing:
    Accumulation units$6,886,243 $3,183,671 $24,825,680 $2,083,244 $454,828,100 
$6,886,243 $3,183,671 $24,825,680 $2,083,244 $454,828,100 
     Units outstanding754,978 324,534 2,656,298 224,430 36,510,096 
     Portfolio shares held654,586 315,215 2,359,856 202,061 34,378,541 
     Portfolio net asset value per share$10.52 $10.10 $10.52 $10.31 $13.23 
     Investment in portfolio shares, at cost$7,589,097 $3,606,691 $28,417,343 $2,191,526 $438,067,576 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
AST Bond Portfolio 2027NVIT Emerging Markets Fund (Class D)AST Bond Portfolio 2028AST Bond Portfolio 2029AST American Funds Growth Allocation Portfolio
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
INVESTMENT INCOME
   Dividend income$— $5,994 $— $— $— 
EXPENSES
   Charges for mortality and expense risk, and
       for administration156,679 60,460 514,815 32,845 10,952,084 
NET INVESTMENT INCOME (LOSS)(156,679)(54,466)(514,815)(32,845)(10,952,084)
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received— — — — — 
  Net realized gain (loss) on shares redeemed(280,532)(24,923)(444,340)(67,567)164,332,080 
  Net change in unrealized appreciation (depreciation) on investments(786,774)(1,116,101)(3,458,436)(109,569)(444,688,989)
NET GAIN (LOSS) ON INVESTMENTS(1,067,306)(1,141,024)(3,902,776)(177,136)(280,356,909)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$(1,223,985)$(1,195,490)$(4,417,591)$(209,981)$(291,308,993)
The accompanying notes are an integral part of these financial statements.
A22


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
AST Bond Portfolio 2030AST BlackRock 80/20 Target Allocation ETF PortfolioAST BlackRock 60/40 Target Allocation ETF PortfolioAST Western Asset Corporate Bond Portfolio**AST T. Rowe Price Corporate Bond Portfolio**
ASSETS
    Investment in the portfolios, at fair value$14,919,248 $119,457,304 $94,436,109 $— $— 
    Net Assets$14,919,248 $119,457,304 $94,436,109 $— $— 
NET ASSETS, representing:
    Accumulation units$14,919,248 $119,457,304 $94,436,109 $— $— 
$14,919,248 $119,457,304 $94,436,109 $— $— 
     Units outstanding1,549,414 8,818,741 7,630,294 — — 
     Portfolio shares held1,434,543 8,353,658 7,253,157 — — 
     Portfolio net asset value per share$10.40 $14.30 $13.02 $— $— 
     Investment in portfolio shares, at cost$17,435,324 $114,205,403 $90,285,092 $— $— 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
AST Bond Portfolio 2030AST BlackRock 80/20 Target Allocation ETF PortfolioAST BlackRock 60/40 Target Allocation ETF PortfolioAST Western Asset Corporate Bond PortfolioAST T. Rowe Price Corporate Bond Portfolio
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/20222/11/2022**2/11/2022**
INVESTMENT INCOME
   Dividend income$— $— $— $— $— 
EXPENSES
   Charges for mortality and expense risk, and
       for administration311,745 2,886,850 1,963,481 4,572 3,928 
NET INVESTMENT INCOME (LOSS)(311,745)(2,886,850)(1,963,481)(4,572)(3,928)
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received— — — — — 
  Net realized gain (loss) on shares redeemed(462,616)39,409,936 18,303,840 (85,467)(62,023)
  Net change in unrealized appreciation (depreciation) on investments(2,705,026)(97,031,591)(55,780,489)(51,477)(53,797)
NET GAIN (LOSS) ON INVESTMENTS(3,167,642)(57,621,655)(37,476,649)(136,944)(115,820)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$(3,479,387)$(60,508,505)$(39,440,130)$(141,516)$(119,748)

**Subaccount was no longer available for investment as of the date presented in the Statement of Operations.


The accompanying notes are an integral part of these financial statements.
A23


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
AST PIMCO Corporate Bond Portfolio**AST Prudential Corporate Bond Portfolio**AST BlackRock Corporate Bond Portfolio**AST Bond Portfolio 2031Fidelity® VIP Contrafund® Portfolio (Initial Class)
ASSETS
    Investment in the portfolios, at fair value$— $— $— $43,853,527 $684,547 
    Net Assets$— $— $— $43,853,527 $684,547 
NET ASSETS, representing:
    Accumulation units$— $— $— $43,853,527 $684,547 
$— $— $— $43,853,527 $684,547 
     Units outstanding— — — 5,314,655 60,430 
     Portfolio shares held— — — 5,006,110 18,071 
     Portfolio net asset value per share$— $— $— $8.76 $37.88 
     Investment in portfolio shares, at cost$— $— $— $52,789,168 $890,852 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
AST PIMCO Corporate Bond PortfolioAST Prudential Corporate Bond PortfolioAST BlackRock Corporate Bond PortfolioAST Bond Portfolio 2031Fidelity® VIP Contrafund® Portfolio (Initial Class)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
2/11/2022**2/11/2022**2/11/2022**12/31/202212/31/2022
INVESTMENT INCOME
   Dividend income$— $— $— $— $5,703 
EXPENSES
   Charges for mortality and expense risk, and
       for administration6,244 8,754 5,289 959,109 3,314 
NET INVESTMENT INCOME (LOSS)(6,244)(8,754)(5,289)(959,109)2,389 
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received— — — — 47,741 
  Net realized gain (loss) on shares redeemed(116,759)(111,339)(129,502)(1,728,376)(58,808)
  Net change in unrealized appreciation (depreciation) on investments(57,857)(154,753)(28,628)(8,395,155)(178,774)
NET GAIN (LOSS) ON INVESTMENTS(174,616)(266,092)(158,130)(10,123,531)(189,841)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$(180,860)$(274,846)$(163,419)$(11,082,640)$(187,452)

**Subaccount was no longer available for investment as of the date presented in the Statement of Operations.

The accompanying notes are an integral part of these financial statements.
A24


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
Fidelity® VIP Growth Opportunities Portfolio (Initial Class)Fidelity® VIP Growth Portfolio (Initial Class)Fidelity® VIP Investment Grade Bond Portfolio (Initial Class)MFS® New Discovery Series (Initial Class)MFS® Total Return Series (Initial Class)
ASSETS
    Investment in the portfolios, at fair value$532,409 $523,045 $302,255 $263,826 $1,129,677 
    Net Assets$532,409 $523,045 $302,255 $263,826 $1,129,677 
NET ASSETS, representing:
    Accumulation units$532,409 $523,045 $302,255 $263,826 $1,129,677 
$532,409 $523,045 $302,255 $263,826 $1,129,677 
     Units outstanding50,678 42,521 33,129 26,693 102,561 
     Portfolio shares held12,976 7,314 27,987 23,327 50,230 
     Portfolio net asset value per share$41.03 $71.51 $10.80 $11.31 $22.49 
     Investment in portfolio shares, at cost$879,989 $587,247 $374,960 $515,399 $1,283,074 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
Fidelity® VIP Growth Opportunities Portfolio (Initial Class)Fidelity® VIP Growth Portfolio (Initial Class)Fidelity® VIP Investment Grade Bond Portfolio (Initial Class)MFS® New Discovery Series (Initial Class)MFS® Total Return Series (Initial Class)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
INVESTMENT INCOME
   Dividend income$— $1,671 $7,237 $— $19,488 
EXPENSES
   Charges for mortality and expense risk, and
       for administration2,283 844 1,338 1,075 4,459 
NET INVESTMENT INCOME (LOSS)(2,283)827 5,899 (1,075)15,029 
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received100,696 18,961 21,183 84,970 97,474 
  Net realized gain (loss) on shares redeemed(47,432)(5,154)(20,336)(8,887)(4,635)
  Net change in unrealized appreciation (depreciation) on investments(341,734)(65,050)(57,676)(185,460)(231,674)
NET GAIN (LOSS) ON INVESTMENTS(288,470)(51,243)(56,829)(109,377)(138,835)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$(290,753)$(50,416)$(50,930)$(110,452)$(123,806)



The accompanying notes are an integral part of these financial statements.
A25


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
MFS® Total Return Bond Series (Initial Class)Vanguard Equity Index PortfolioVanguard Global Bond IndexVanguard Mid-Cap Index PortfolioVanguard Real Estate Index Portfolio
ASSETS
    Investment in the portfolios, at fair value$1,565,578 $776,584 $161,467 $1,212,029 $820,295 
    Net Assets$1,565,578 $776,584 $161,467 $1,212,029 $820,295 
NET ASSETS, representing:
    Accumulation units$1,565,578 $776,584 $161,467 $1,212,029 $820,295 
$1,565,578 $776,584 $161,467 $1,212,029 $820,295 
     Units outstanding175,938 66,154 18,600 107,386 91,373 
     Portfolio shares held139,039 15,305 9,056 56,690 71,144 
     Portfolio net asset value per share$11.26 $50.74 $17.83 $21.38 $11.53 
     Investment in portfolio shares, at cost$1,721,310 $885,035 $188,553 $1,425,603 $1,006,896 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
MFS® Total Return Bond Series (Initial Class)Vanguard Equity Index PortfolioVanguard Global Bond IndexVanguard Mid-Cap Index PortfolioVanguard Real Estate Index Portfolio
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
INVESTMENT INCOME
   Dividend income$39,741 $8,784 $4,029 $11,609 $15,960 
EXPENSES
   Charges for mortality and expense risk, and
       for administration3,980 5,534 1,414 9,653 6,338 
NET INVESTMENT INCOME (LOSS)35,761 3,250 2,615 1,956 9,622 
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received16,748 29,371 1,488 110,133 36,048 
  Net realized gain (loss) on shares redeemed(7,597)(7,812)(8,606)(108,331)(23,807)
  Net change in unrealized appreciation (depreciation) on investments(145,433)(162,094)(23,750)(301,620)(301,300)
NET GAIN (LOSS) ON INVESTMENTS(136,282)(140,535)(30,868)(299,818)(289,059)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$(100,521)$(137,285)$(28,253)$(297,862)$(279,437)


The accompanying notes are an integral part of these financial statements.
A26


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
Vanguard Total Bond Market Index PortfolioVanguard Total International Stock Market Index PortfolioVanguard Total Stock Market Index PortfolioVanguard Balanced PortfolioVanguard Conservative Allocation Portfolio
ASSETS
    Investment in the portfolios, at fair value$1,269,210 $1,660,686 $2,005,224 $1,989,681 $399,348 
    Net Assets$1,269,210 $1,660,686 $2,005,224 $1,989,681 $399,348 
NET ASSETS, representing:
    Accumulation units$1,269,210 $1,660,686 $2,005,224 $1,989,681 $399,348 
$1,269,210 $1,660,686 $2,005,224 $1,989,681 $399,348 
     Units outstanding145,050 164,111 174,336 184,558 41,395 
     Portfolio shares held122,985 87,175 47,405 91,606 17,554 
     Portfolio net asset value per share$10.32 $19.05 $42.30 $21.72 $22.75 
     Investment in portfolio shares, at cost$1,438,161 $1,870,398 $2,217,219 $2,394,925 $479,604 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
Vanguard Total Bond Market Index PortfolioVanguard Total International Stock Market Index PortfolioVanguard Total Stock Market Index PortfolioVanguard Balanced PortfolioVanguard Conservative Allocation Portfolio
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
INVESTMENT INCOME
   Dividend income$21,829 $35,339 $16,906 $38,968 $10,080 
EXPENSES
   Charges for mortality and expense risk, and
       for administration8,968 10,173 11,882 16,498 3,226 
NET INVESTMENT INCOME (LOSS)12,861 25,166 5,024 22,470 6,854 
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received7,746 36,994 90,558 195,196 17,704 
  Net realized gain (loss) on shares redeemed(14,816)(82,684)(11,797)(58,174)(2,725)
  Net change in unrealized appreciation (depreciation) on investments(169,364)(209,032)(375,694)(512,182)(91,786)
NET GAIN (LOSS) ON INVESTMENTS(176,434)(254,722)(296,933)(375,160)(76,807)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$(163,573)$(229,556)$(291,909)$(352,690)$(69,953)


The accompanying notes are an integral part of these financial statements.
A27


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
Vanguard Growth PortfolioVanguard High Yield Bond PortfolioVanguard Moderate Allocation PortfolioVanguard Short-Term Investment Grade PortfolioAmerican Funds IS Asset Allocation Fund (Class 1)
ASSETS
    Investment in the portfolios, at fair value$404,387 $215,637 $1,382,724 $1,899,903 $5,230,831 
    Net Assets$404,387 $215,637 $1,382,724 $1,899,903 $5,230,831 
NET ASSETS, representing:
    Accumulation units$404,387 $215,637 $1,382,724 $1,899,903 $5,230,831 
$404,387 $215,637 $1,382,724 $1,899,903 $5,230,831 
     Units outstanding39,977 22,459 136,370 198,341 484,386 
     Portfolio shares held22,305 31,027 51,885 191,522 235,623 
     Portfolio net asset value per share$18.13 $6.95 $26.65 $9.92 $22.20 
     Investment in portfolio shares, at cost$649,438 $228,978 $1,465,273 $1,990,922 $6,452,363 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
Vanguard Growth PortfolioVanguard High Yield Bond PortfolioVanguard Moderate Allocation PortfolioVanguard Short-Term Investment Grade PortfolioAmerican Funds IS Asset Allocation Fund (Class 1)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
INVESTMENT INCOME
   Dividend income$— $7,811 $9,519 $27,065 $114,927 
EXPENSES
   Charges for mortality and expense risk, and
       for administration3,201 1,727 3,787 13,912 38,726 
NET INVESTMENT INCOME (LOSS)(3,201)6,084 5,732 13,153 76,201 
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received126,956 — 17,736 12,918 518,898 
  Net realized gain (loss) on shares redeemed(10,455)841 (19,411)(50,874)(16,455)
  Net change in unrealized appreciation (depreciation) on investments(279,006)(16,417)(94,660)(83,123)(1,348,707)
NET GAIN (LOSS) ON INVESTMENTS(162,505)(15,576)(96,335)(121,079)(846,264)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$(165,706)$(9,492)$(90,603)$(107,926)$(770,063)




The accompanying notes are an integral part of these financial statements.
A28


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
American Funds IS Washington Mutual Investors Fund℠ (Class 1)American Funds IS The Bond Fund of America® (Class 1)American Funds IS Growth Fund (Class 1)American Funds IS Growth-Income Fund (Class 1)American Funds IS U.S. Government Securities Fund® (Class 1)
ASSETS
    Investment in the portfolios, at fair value$1,085,652 $758,394 $1,469,858 $1,937,269 $571,892 
    Net Assets$1,085,652 $758,394 $1,469,858 $1,937,269 $571,892 
NET ASSETS, representing:
    Accumulation units$1,085,652 $758,394 $1,469,858 $1,937,269 $571,892 
$1,085,652 $758,394 $1,469,858 $1,937,269 $571,892 
     Units outstanding87,363 82,410 125,349 171,208 60,557 
     Portfolio shares held85,552 80,594 19,267 38,583 57,246 
     Portfolio net asset value per share$12.69 $9.41 $76.29 $50.21 $9.99 
     Investment in portfolio shares, at cost$1,326,924 $878,629 $2,123,154 $2,256,776 $668,567 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
American Funds IS Washington Mutual Investors Fund℠ (Class 1)American Funds IS The Bond Fund of America® (Class 1)American Funds IS Growth Fund (Class 1)American Funds IS Growth-Income Fund (Class 1)American Funds IS U.S. Government Securities Fund® (Class 1)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
INVESTMENT INCOME
   Dividend income$23,487 $23,584 $9,749 $30,084 $22,785 
EXPENSES
   Charges for mortality and expense risk, and
       for administration7,494 4,614 13,325 14,039 3,081 
NET INVESTMENT INCOME (LOSS)15,993 18,970 (3,576)16,045 19,704 
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received222,484 7,798 240,549 156,603 — 
  Net realized gain (loss) on shares redeemed(15,444)(4,943)(149,832)(8,467)(3,463)
  Net change in unrealized appreciation (depreciation) on investments(300,556)(105,007)(766,080)(469,456)(68,214)
NET GAIN (LOSS) ON INVESTMENTS(93,516)(102,152)(675,363)(321,320)(71,677)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$(77,523)$(83,182)$(678,939)$(305,275)$(51,973)




The accompanying notes are an integral part of these financial statements.
A29


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
BlackRock Basic Value V.I. Fund (Class I)BlackRock Capital Appreciation V.I. Fund (Class I)BlackRock Equity Dividend V.I. Fund (Class I)BlackRock Global Allocation V.I. Fund (Class I)DFA VA Global Bond Portfolio
ASSETS
    Investment in the portfolios, at fair value$558,356 $623,584 $2,508,982 $1,526,705 $463,191 
    Net Assets$558,356 $623,584 $2,508,982 $1,526,705 $463,191 
NET ASSETS, representing:
    Accumulation units$558,356 $623,584 $2,508,982 $1,526,705 $463,191 
$558,356 $623,584 $2,508,982 $1,526,705 $463,191 
     Units outstanding46,588 64,096 209,891 144,948 50,484 
     Portfolio shares held47,520 103,585 247,190 103,365 48,149 
     Portfolio net asset value per share$11.75 $6.02 $10.15 $14.77 $9.62 
     Investment in portfolio shares, at cost$644,551 $932,778 $3,137,351 $1,864,266 $507,668 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
BlackRock Basic Value V.I. Fund (Class I)BlackRock Capital Appreciation V.I. Fund (Class I)BlackRock Equity Dividend V.I. Fund (Class I)BlackRock Global Allocation V.I. Fund (Class I)DFA VA Global Bond Portfolio
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
INVESTMENT INCOME
   Dividend income$8,423 $— $45,182 $— $7,540 
EXPENSES
   Charges for mortality and expense risk, and
       for administration1,629 2,082 9,593 5,373 3,293 
NET INVESTMENT INCOME (LOSS)6,794 (2,082)35,589 (5,373)4,247 
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received55,673 33,123 302,698 20,732 — 
  Net realized gain (loss) on shares redeemed(10,718)(7,237)(56,231)(51,589)(5,805)
  Net change in unrealized appreciation (depreciation) on investments(91,425)(263,686)(408,756)(174,540)(34,774)
NET GAIN (LOSS) ON INVESTMENTS(46,470)(237,800)(162,289)(205,397)(40,579)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$(39,676)$(239,882)$(126,700)$(210,770)$(36,332)



The accompanying notes are an integral part of these financial statements.
A30


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
DFA VA Short-Term Fixed PortfolioDFA VA U.S. Large Value PortfolioDFA VA U.S. Targeted Value PortfolioFidelity® VIP Balanced Portfolio (Initial Class)Fidelity® VIP Consumer Discretionary Portfolio (Initial Class)
ASSETS
    Investment in the portfolios, at fair value$884,866 $1,480,496 $962,061 $2,614,931 $306,688 
    Net Assets$884,866 $1,480,496 $962,061 $2,614,931 $306,688 
NET ASSETS, representing:
    Accumulation units$884,866 $1,480,496 $962,061 $2,614,931 $306,688 
$884,866 $1,480,496 $962,061 $2,614,931 $306,688 
     Units outstanding91,396 124,731 67,663 231,606 30,410 
     Portfolio shares held89,110 48,653 46,838 134,929 13,028 
     Portfolio net asset value per share$9.93 $30.43 $20.54 $19.38 $23.54 
     Investment in portfolio shares, at cost$904,696 $1,513,534 $1,049,256 $3,155,770 $491,808 
STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
DFA VA Short-Term Fixed PortfolioDFA VA U.S. Large Value PortfolioDFA VA U.S. Targeted Value PortfolioFidelity® VIP Balanced Portfolio (Initial Class)Fidelity® VIP Consumer Discretionary Portfolio (Initial Class)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
INVESTMENT INCOME
   Dividend income$11,808 $25,230 $12,782 $48,684 $— 
EXPENSES
   Charges for mortality and expense risk, and
       for administration6,624 7,214 5,283 15,466 1,118 
NET INVESTMENT INCOME (LOSS)5,184 18,016 7,499 33,218 (1,118)
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received— 13,637 75,713 223,282 38,038 
  Net realized gain (loss) on shares redeemed(2,941)(51,015)(36,909)(199,746)(14,846)
  Net change in unrealized appreciation (depreciation) on investments(18,231)(59,689)(89,673)(855,756)(189,908)
NET GAIN (LOSS) ON INVESTMENTS(21,172)(97,067)(50,869)(832,220)(166,716)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$(15,988)$(79,051)$(43,370)$(799,002)$(167,834)




The accompanying notes are an integral part of these financial statements.
A31


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
Fidelity® VIP Disciplined Small Cap Portfolio (Initial Class)Fidelity® VIP Emerging Markets Portfolio (Initial Class)Fidelity® VIP Financial Services Portfolio (Initial Class)Fidelity® VIP Floating Rate High Income Portfolio (Initial Class)Fidelity® VIP Health Care Portfolio (Initial Class)
ASSETS
    Investment in the portfolios, at fair value$615,771 $1,115,591 $424,186 $1,343,817 $588,144 
    Net Assets$615,771 $1,115,591 $424,186 $1,343,817 $588,144 
NET ASSETS, representing:
    Accumulation units$615,771 $1,115,591 $424,186 $1,343,817 $588,144 
$615,771 $1,115,591 $424,186 $1,343,817 $588,144 
     Units outstanding52,426 108,523 34,968 126,650 51,723 
     Portfolio shares held45,211 113,029 30,277 142,504 17,893 
     Portfolio net asset value per share$13.62 $9.87 $14.01 $9.43 $32.87 
     Investment in portfolio shares, at cost$707,866 $1,477,542 $493,129 $1,396,370 $659,853 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
Fidelity® VIP Disciplined Small Cap Portfolio (Initial Class)Fidelity® VIP Emerging Markets Portfolio (Initial Class)Fidelity® VIP Financial Services Portfolio (Initial Class)Fidelity® VIP Floating Rate High Income Portfolio (Initial Class)Fidelity® VIP Health Care Portfolio (Initial Class)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
INVESTMENT INCOME
   Dividend income$5,075 $19,942 $8,561 $55,358 $— 
EXPENSES
   Charges for mortality and expense risk, and
       for administration1,837 3,727 1,229 4,482 1,930 
NET INVESTMENT INCOME (LOSS)3,238 16,215 7,332 50,876 (1,930)
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received85,675 — 7,372 — 36,332 
  Net realized gain (loss) on shares redeemed(12,638)(37,144)(3,091)(6,181)(4,796)
  Net change in unrealized appreciation (depreciation) on investments(186,002)(198,991)(71,264)(50,976)(83,356)
NET GAIN (LOSS) ON INVESTMENTS(112,965)(236,135)(66,983)(57,157)(51,820)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$(109,727)$(219,920)$(59,651)$(6,281)$(53,750)




The accompanying notes are an integral part of these financial statements.
A32


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
Fidelity® VIP Industrials Portfolio (Initial Class)Fidelity® VIP International Capital Appreciation Portfolio (Initial Class)Fidelity® VIP Mid Cap Portfolio (Initial Class)Fidelity® VIP Strategic Income Portfolio (Initial Class)Fidelity® VIP Technology Portfolio (Initial Class)
ASSETS
    Investment in the portfolios, at fair value$387,011 $760,142 $931,908 $858,552 $615,672 
    Net Assets$387,011 $760,142 $931,908 $858,552 $615,672 
NET ASSETS, representing:
    Accumulation units$387,011 $760,142 $931,908 $858,552 $615,672 
$387,011 $760,142 $931,908 $858,552 $615,672 
     Units outstanding34,300 78,306 75,965 89,228 50,277 
     Portfolio shares held21,229 45,545 28,481 85,684 29,402 
     Portfolio net asset value per share$18.23 $16.69 $32.72 $10.02 $20.94 
     Investment in portfolio shares, at cost$475,481 $956,071 $1,035,903 $919,501 $924,205 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
Fidelity® VIP Industrials Portfolio (Initial Class)Fidelity® VIP International Capital Appreciation Portfolio (Initial Class)Fidelity® VIP Mid Cap Portfolio (Initial Class)Fidelity® VIP Strategic Income Portfolio (Initial Class)Fidelity® VIP Technology Portfolio (Initial Class)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
INVESTMENT INCOME
   Dividend income$659 $2,172 $3,218 $31,236 $— 
EXPENSES
   Charges for mortality and expense risk, and
       for administration999 2,611 1,934 1,731 2,366 
NET INVESTMENT INCOME (LOSS)(340)(439)1,284 29,505 (2,366)
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received51,339 44,504 38,532 161 66,022 
  Net realized gain (loss) on shares redeemed(1,636)(21,344)(10,992)(2,188)(7,002)
  Net change in unrealized appreciation (depreciation) on investments(88,996)(212,826)(134,836)(58,175)(361,513)
NET GAIN (LOSS) ON INVESTMENTS(39,293)(189,666)(107,296)(60,202)(302,493)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$(39,633)$(190,105)$(106,012)$(30,697)$(304,859)



The accompanying notes are an integral part of these financial statements.
A33


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
Fidelity® VIP Utilities Portfolio (Initial Class)ClearBridge Variable Mid Cap Portfolio (Class I)ClearBridge Variable Small Cap Growth Portfolio (Class I)Western Asset Core Plus VIT Portfolio (Class I)Western Asset Variable Global High Yield Bond Portfolio (Class I)
ASSETS
    Investment in the portfolios, at fair value$168,606 $269,217 $727,554 $2,050,124 $53,363 
    Net Assets$168,606 $269,217 $727,554 $2,050,124 $53,363 
NET ASSETS, representing:
    Accumulation units$168,606 $269,217 $727,554 $2,050,124 $53,363 
$168,606 $269,217 $727,554 $2,050,124 $53,363 
     Units outstanding14,843 25,310 67,075 239,616 5,844 
     Portfolio shares held7,835 13,223 28,837 425,337 9,232 
     Portfolio net asset value per share$21.52 $20.36 $25.23 $4.82 $5.78 
     Investment in portfolio shares, at cost$165,331 $348,870 $1,022,892 $2,564,922 $67,569 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
Fidelity® VIP Utilities Portfolio (Initial Class)ClearBridge Variable Mid Cap Portfolio (Class I)ClearBridge Variable Small Cap Growth Portfolio (Class I)Western Asset Core Plus VIT Portfolio (Class I)Western Asset Variable Global High Yield Bond Portfolio (Class I)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
INVESTMENT INCOME
   Dividend income$1,665 $1,032 $— $44,583 $3,719 
EXPENSES
   Charges for mortality and expense risk, and
       for administration354 1,135 2,468 7,807 265 
NET INVESTMENT INCOME (LOSS)1,311 (103)(2,468)36,776 3,454 
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received49 18,600 16,645 — — 
  Net realized gain (loss) on shares redeemed510 (9,836)(41,211)(13,337)(1,088)
  Net change in unrealized appreciation (depreciation) on investments1,441 (88,176)(250,608)(443,437)(11,735)
NET GAIN (LOSS) ON INVESTMENTS2,000 (79,412)(275,174)(456,774)(12,823)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$3,311 $(79,515)$(277,642)$(419,998)$(9,369)



The accompanying notes are an integral part of these financial statements.
A34


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
MFS® Mid Cap Growth Series (Initial Class)MFS® International Intrinsic Value Portfolio (Initial Class)MFS® Massachusetts Investors Growth Stock Portfolio (Initial Class)MFS® International Growth Portfolio (Service Class)MFS® Massachusetts Investors Growth Stock Portfolio (Service Class)
ASSETS
    Investment in the portfolios, at fair value$612,955 $325,082 $64,955 $4,574,554 $1,264,089 
    Net Assets$612,955 $325,082 $64,955 $4,574,554 $1,264,089 
NET ASSETS, representing:
    Accumulation units$612,955 $325,082 $64,955 $4,574,554 $1,264,089 
$612,955 $325,082 $64,955 $4,574,554 $1,264,089 
     Units outstanding59,541 32,555 5,463 374,736 93,187 
     Portfolio shares held85,608 11,934 3,367 347,875 67,025 
     Portfolio net asset value per share$7.16 $27.24 $19.29 $13.15 $18.86 
     Investment in portfolio shares, at cost$881,885 $385,647 $80,927 $4,988,056 $1,522,044 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
MFS® Mid Cap Growth Series (Initial Class)MFS® International Intrinsic Value Portfolio (Initial Class)MFS® Massachusetts Investors Growth Stock Portfolio (Initial Class)MFS® International Growth Portfolio (Service Class)MFS® Massachusetts Investors Growth Stock Portfolio (Service Class)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
INVESTMENT INCOME
   Dividend income$— $2,298 $73 $14,681 $— 
EXPENSES
   Charges for mortality and expense risk, and
       for administration2,974 1,143 238 22,736 6,326 
NET INVESTMENT INCOME (LOSS)(2,974)1,155 (165)(8,055)(6,326)
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received144,044 12,779 9,437 219,542 194,423 
  Net realized gain (loss) on shares redeemed(65,475)(13,457)(3,298)(32,312)(81,662)
  Net change in unrealized appreciation (depreciation) on investments(254,723)(72,085)(17,967)(515,531)(335,122)
NET GAIN (LOSS) ON INVESTMENTS(176,154)(72,763)(11,828)(328,301)(222,361)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$(179,128)$(71,608)$(11,993)$(336,356)$(228,687)



The accompanying notes are an integral part of these financial statements.
A35


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
MFS® Technology Portfolio (Service Class)MFS® Investors Trust Series (Service Class)MFS® Mid Cap Growth Series (Service Class)MFS® New Discovery Series (Service Class)MFS® Research Series (Service Class)
ASSETS
    Investment in the portfolios, at fair value$10,442,458 $402,487 $6,632,200 $2,707,812 $476,535 
    Net Assets$10,442,458 $402,487 $6,632,200 $2,707,812 $476,535 
NET ASSETS, representing:
    Accumulation units$10,442,458 $402,487 $6,632,200 $2,707,812 $476,535 
$10,442,458 $402,487 $6,632,200 $2,707,812 $476,535 
     Units outstanding992,719 29,676 559,325 229,978 36,116 
     Portfolio shares held573,446 12,709 1,064,559 306,314 17,520 
     Portfolio net asset value per share$18.21 $31.67 $6.23 $8.84 $27.20 
     Investment in portfolio shares, at cost$15,325,598 $462,725 $9,919,209 $5,012,927 $580,951 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
MFS® Technology Portfolio (Service Class)MFS® Investors Trust Series (Service Class)MFS® Mid Cap Growth Series (Service Class)MFS® New Discovery Series (Service Class)MFS® Research Series (Service Class)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
INVESTMENT INCOME
   Dividend income$— $1,839 $— $— $947 
EXPENSES
   Charges for mortality and expense risk, and
       for administration62,363 2,679 36,016 14,667 2,824 
NET INVESTMENT INCOME (LOSS)(62,363)(840)(36,016)(14,667)(1,877)
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received1,125,885 62,436 1,093,904 1,038,050 63,018 
  Net realized gain (loss) on shares redeemed(220,602)(20,863)(335,609)(177,717)(3,951)
  Net change in unrealized appreciation (depreciation) on investments(6,132,867)(131,165)(3,080,666)(1,907,746)(162,978)
NET GAIN (LOSS) ON INVESTMENTS(5,227,584)(89,592)(2,322,371)(1,047,413)(103,911)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$(5,289,947)$(90,432)$(2,358,387)$(1,062,080)$(105,788)




The accompanying notes are an integral part of these financial statements.
A36


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
MFS® Total Return Bond Series (Service Class)MFS® Total Return Series (Service Class)MFS® Utilities Series (Service Class)Fidelity® VIP Contrafund® Portfolio (Service Class 2)American Funds IS Asset Allocation Fund (Class 4)
ASSETS
    Investment in the portfolios, at fair value$18,161,160 $18,134,276 $8,253,639 $6,666,787 $22,654,670 
    Net Assets$18,161,160 $18,134,276 $8,253,639 $6,666,787 $22,654,670 
NET ASSETS, representing:
    Accumulation units$18,161,160 $18,134,276 $8,253,639 $6,666,787 $22,654,670 
$18,161,160 $18,134,276 $8,253,639 $6,666,787 $22,654,670 
     Units outstanding2,032,228 1,502,805 600,427 654,182 2,126,049 
     Portfolio shares held1,645,033 826,163 232,039 182,452 1,042,073 
     Portfolio net asset value per share$11.04 $21.95 $35.57 $36.54 $21.74 
     Investment in portfolio shares, at cost$20,443,166 $19,865,401 $8,268,742 $8,312,518 $27,042,968 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
MFS® Total Return Bond Series (Service Class)MFS® Total Return Series (Service Class)MFS® Utilities Series (Service Class)Fidelity® VIP Contrafund® Portfolio (Service Class 2)American Funds IS Asset Allocation Fund (Class 4)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
INVESTMENT INCOME
   Dividend income$358,985 $221,261 $155,522 $19,383 $393,360 
EXPENSES
   Charges for mortality and expense risk, and
       for administration92,484 109,552 35,385 31,977 143,756 
NET INVESTMENT INCOME (LOSS)266,501 111,709 120,137 (12,594)249,604 
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received169,936 1,315,882 273,444 340,316 2,458,311 
  Net realized gain (loss) on shares redeemed(398,418)(172,073)13,841 (234,350)(544,503)
  Net change in unrealized appreciation (depreciation) on investments(2,038,234)(2,188,250)(408,425)(1,923,813)(5,893,144)
NET GAIN (LOSS) ON INVESTMENTS(2,266,716)(1,044,441)(121,140)(1,817,847)(3,979,336)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$(2,000,215)$(932,732)$(1,003)$(1,830,441)$(3,729,732)




The accompanying notes are an integral part of these financial statements.
A37


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
American Funds IS Washington Mutual Investors Fund℠ (Class 4)American Funds IS The Bond Fund of America® (Class 4)American Funds IS Capital World Growth and Income Fund® (Class 4)American Funds IS Global Small Capitalization Fund (Class 4)American Funds IS Growth Fund (Class 4)
ASSETS
    Investment in the portfolios, at fair value$8,216,196 $7,862,395 $4,149,858 $1,658,125 $13,960,728 
    Net Assets$8,216,196 $7,862,395 $4,149,858 $1,658,125 $13,960,728 
NET ASSETS, representing:
    Accumulation units$8,216,196 $7,862,395 $4,149,858 $1,658,125 $13,960,728 
$8,216,196 $7,862,395 $4,149,858 $1,658,125 $13,960,728 
     Units outstanding641,300 904,670 391,830 179,863 1,355,541 
     Portfolio shares held665,818 851,830 365,626 108,516 189,581 
     Portfolio net asset value per share$12.34 $9.23 $11.35 $15.28 $73.64 
     Investment in portfolio shares, at cost$9,652,758 $9,101,507 $5,536,758 $2,790,630 $19,794,977 

STATEMENTS OF OPERATION
For the period ended December 31, 2022
SUBACCOUNTS
American Funds IS Washington Mutual Investors Fund℠ (Class 4)American Funds IS The Bond Fund of America® (Class 4)American Funds IS Capital World Growth and Income Fund® (Class 4)American Funds IS Global Small Capitalization Fund (Class 4)American Funds IS Growth Fund (Class 4)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
INVESTMENT INCOME
   Dividend income$136,099 $208,035 $91,317 $— $15,265 
EXPENSES
   Charges for mortality and expense risk, and
       for administration37,618 39,563 21,844 9,212 74,775 
NET INVESTMENT INCOME (LOSS)98,481 168,472 69,473 (9,212)(59,510)
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received1,600,680 86,423 895,539 592,631 2,018,007 
  Net realized gain (loss) on shares redeemed(74,768)(235,975)(142,428)(115,615)(334,828)
  Net change in unrealized appreciation (depreciation) on investments(2,182,009)(1,008,353)(1,599,708)(1,123,389)(6,539,711)
NET GAIN (LOSS) ON INVESTMENTS(656,097)(1,157,905)(846,597)(646,373)(4,856,532)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$(557,616)$(989,433)$(777,124)$(655,585)$(4,916,042)



The accompanying notes are an integral part of these financial statements.
A38


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
American Funds IS Growth-Income Fund (Class 4)American Funds IS International Fund (Class 4)American Funds IS New World Fund® (Class 4)BlackRock Advantage Large Cap Core V.I. Fund (Class III)BlackRock Advantage Large Cap Value V.I. Fund (Class III)
ASSETS
    Investment in the portfolios, at fair value$5,564,224 $2,089,032 $2,875,235 $4,031,742 $3,071,153 
    Net Assets$5,564,224 $2,089,032 $2,875,235 $4,031,742 $3,071,153 
NET ASSETS, representing:
    Accumulation units$5,564,224 $2,089,032 $2,875,235 $4,031,742 $3,071,153 
$5,564,224 $2,089,032 $2,875,235 $4,031,742 $3,071,153 
     Units outstanding493,127 226,849 299,691 355,202 238,293 
     Portfolio shares held114,208 139,362 131,650 227,911 343,529 
     Portfolio net asset value per share$48.72 $14.99 $21.84 $17.69 $8.94 
     Investment in portfolio shares, at cost$6,387,296 $2,808,663 $3,793,745 $5,881,825 $3,367,877 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
American Funds IS Growth-Income Fund (Class 4)American Funds IS International Fund (Class 4)American Funds IS New World Fund® (Class 4)BlackRock Advantage Large Cap Core V.I. Fund (Class III)BlackRock Advantage Large Cap Value V.I. Fund (Class III)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
INVESTMENT INCOME
   Dividend income$59,726 $32,628 $33,222 $30,342 $46,180 
EXPENSES
   Charges for mortality and expense risk, and
       for administration28,063 10,301 15,726 22,486 13,235 
NET INVESTMENT INCOME (LOSS)31,663 22,327 17,496 7,856 32,945 
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received474,300 278,001 274,837 56,144 65,987 
  Net realized gain (loss) on shares redeemed(82,145)(86,929)(110,414)(185,716)(29,027)
  Net change in unrealized appreciation (depreciation) on investments(1,324,979)(637,174)(906,704)(799,589)(236,990)
NET GAIN (LOSS) ON INVESTMENTS(932,824)(446,102)(742,281)(929,161)(200,030)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$(901,161)$(423,775)$(724,785)$(921,305)$(167,085)




The accompanying notes are an integral part of these financial statements.
A39


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
BlackRock Basic Value V.I. Fund (Class III)BlackRock Capital Appreciation V.I. Fund (Class III)BlackRock Equity Dividend V.I. Fund (Class III)BlackRock Large Cap Focus Growth V.I. Fund (Class III)Fidelity® VIP Balanced Portfolio (Service Class 2)
ASSETS
    Investment in the portfolios, at fair value$2,172,007 $1,552,580 $3,982,592 $1,898,303 $19,782,111 
    Net Assets$2,172,007 $1,552,580 $3,982,592 $1,898,303 $19,782,111 
NET ASSETS, representing:
    Accumulation units$2,172,007 $1,552,580 $3,982,592 $1,898,303 $19,782,111 
$2,172,007 $1,552,580 $3,982,592 $1,898,303 $19,782,111 
     Units outstanding165,889 179,905 309,869 231,326 1,855,408 
     Portfolio shares held187,081 269,545 393,537 154,964 1,055,609 
     Portfolio net asset value per share$11.61 $5.76 $10.12 $12.25 $18.74 
     Investment in portfolio shares, at cost$2,615,912 $2,639,953 $4,663,422 $3,001,815 $23,696,219 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
BlackRock Basic Value V.I. Fund (Class III)BlackRock Capital Appreciation V.I. Fund (Class III)BlackRock Equity Dividend V.I. Fund (Class III)BlackRock Large Cap Focus Growth V.I. Fund (Class III)Fidelity® VIP Balanced Portfolio (Service Class 2)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
INVESTMENT INCOME
   Dividend income$26,491 $— $54,711 $— $218,554 
EXPENSES
   Charges for mortality and expense risk, and
       for administration10,924 9,571 20,613 10,543 112,611 
NET INVESTMENT INCOME (LOSS)15,567 (9,571)34,098 (10,543)105,943 
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received225,515 92,857 461,874 123,213 1,155,323 
  Net realized gain (loss) on shares redeemed(42,100)(167,667)(107,520)(97,151)(582,525)
  Net change in unrealized appreciation (depreciation) on investments(339,762)(836,910)(585,143)(1,000,470)(4,946,589)
NET GAIN (LOSS) ON INVESTMENTS(156,347)(911,720)(230,789)(974,408)(4,373,791)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$(140,780)$(921,291)$(196,691)$(984,951)$(4,267,848)





The accompanying notes are an integral part of these financial statements.
A40


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
Fidelity® VIP Growth Opportunities Portfolio (Service Class 2)Fidelity® VIP Health Care Portfolio (Service Class 2)AST Bond Portfolio 2032PSF Global Portfolio (Class III)PSF Mid-Cap Growth Portfolio (Class III)
ASSETS
    Investment in the portfolios, at fair value$9,871,668 $8,730,283 $51,878,364 $568,120 $834,800 
    Net Assets$9,871,668 $8,730,283 $51,878,364 $568,120 $834,800 
NET ASSETS, representing:
    Accumulation units$9,871,668 $8,730,283 $51,878,364 $568,120 $834,800 
$9,871,668 $8,730,283 $51,878,364 $568,120 $834,800 
     Units outstanding1,170,198 832,007 7,149,303 66,288 112,498 
     Portfolio shares held247,348 267,390 6,862,218 12,367 37,452 
     Portfolio net asset value per share$39.91 $32.65 $7.56 $45.94 $22.29 
     Investment in portfolio shares, at cost$15,773,064 $9,581,114 $62,989,999 $651,197 $1,003,091 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
Fidelity® VIP Growth Opportunities Portfolio (Service Class 2)Fidelity® VIP Health Care Portfolio (Service Class 2)AST Bond Portfolio 2032PSF Global Portfolio (Class III)PSF Mid-Cap Growth Portfolio (Class III)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
INVESTMENT INCOME
   Dividend income$— $— $— $— $— 
EXPENSES
   Charges for mortality and expense risk, and
       for administration52,850 45,248 1,165,145 2,544 3,857 
NET INVESTMENT INCOME (LOSS)(52,850)(45,248)(1,165,145)(2,544)(3,857)
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received1,715,717 438,197 — — — 
  Net realized gain (loss) on shares redeemed(545,332)(155,361)(1,550,905)(3,337)(21,321)
  Net change in unrealized appreciation (depreciation) on investments(6,156,220)(1,194,728)(11,138,624)(88,351)(167,584)
NET GAIN (LOSS) ON INVESTMENTS(4,985,835)(911,892)(12,689,529)(91,688)(188,905)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$(5,038,685)$(957,140)$(13,854,674)$(94,232)$(192,762)




The accompanying notes are an integral part of these financial statements.
A41


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
PSF Natural Resources Portfolio (Class III)PSF PGIM 50/50 Balanced Portfolio (Class III)PSF PGIM Flexible Managed Portfolio (Class III)PSF PGIM Government Income Portfolio (Class III)PSF PGIM High Yield Bond Portfolio (Class III)
ASSETS
    Investment in the portfolios, at fair value$4,919,238 $5,030,585 $2,739,451 $1,442,104 $6,786,032 
    Net Assets$4,919,238 $5,030,585 $2,739,451 $1,442,104 $6,786,032 
NET ASSETS, representing:
    Accumulation units$4,919,238 $5,030,585 $2,739,451 $1,442,104 $6,786,032 
$4,919,238 $5,030,585 $2,739,451 $1,442,104 $6,786,032 
     Units outstanding369,183 553,718 300,408 170,431 744,009 
     Portfolio shares held117,883 149,276 73,072 119,084 1,150,175 
     Portfolio net asset value per share$41.73 $33.70 $37.49 $12.11 $5.90 
     Investment in portfolio shares, at cost$4,594,485 $5,397,532 $3,024,215 $1,527,322 $7,325,861 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
PSF Natural Resources Portfolio (Class III)PSF PGIM 50/50 Balanced Portfolio (Class III)PSF PGIM Flexible Managed Portfolio (Class III)PSF PGIM Government Income Portfolio (Class III)PSF PGIM High Yield Bond Portfolio (Class III)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
INVESTMENT INCOME
   Dividend income$— $— $— $— $— 
EXPENSES
   Charges for mortality and expense risk, and
       for administration16,858 21,070 13,024 6,766 31,957 
NET INVESTMENT INCOME (LOSS)(16,858)(21,070)(13,024)(6,766)(31,957)
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received— — — — — 
  Net realized gain (loss) on shares redeemed12,564 (56,982)(20,781)(75,962)(91,114)
  Net change in unrealized appreciation (depreciation) on investments315,153 (426,738)(340,445)(82,587)(594,012)
NET GAIN (LOSS) ON INVESTMENTS327,717 (483,720)(361,226)(158,549)(685,126)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$310,859 $(504,790)$(374,250)$(165,315)$(717,083)




The accompanying notes are an integral part of these financial statements.
A42


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
PSF PGIM Jennison Blend Portfolio (Class III)PSF PGIM Jennison Focused Blend Portfolio (Class III)PSF PGIM Jennison Growth Portfolio (Class III)PSF PGIM Jennison Value Portfolio (Class III)PSF PGIM Total Return Bond Portfolio (Class III)
ASSETS
    Investment in the portfolios, at fair value$631,103 $368,749 $4,366,158 $1,822,215 $6,203,660 
    Net Assets$631,103 $368,749 $4,366,158 $1,822,215 $6,203,660 
NET ASSETS, representing:
    Accumulation units$631,103 $368,749 $4,366,158 $1,822,215 $6,203,660 
$631,103 $368,749 $4,366,158 $1,822,215 $6,203,660 
     Units outstanding76,467 46,834 637,620 179,974 723,718 
     Portfolio shares held8,626 8,568 47,510 41,698 467,143 
     Portfolio net asset value per share$73.16 $43.04 $91.90 $43.70 $13.28 
     Investment in portfolio shares, at cost$790,700 $457,290 $5,975,762 $1,840,523 $6,930,585 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
PSF PGIM Jennison Blend Portfolio (Class III)PSF PGIM Jennison Focused Blend Portfolio (Class III)PSF PGIM Jennison Growth Portfolio (Class III)PSF PGIM Jennison Value Portfolio (Class III)PSF PGIM Total Return Bond Portfolio (Class III)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
INVESTMENT INCOME
   Dividend income$— $— $— $— $— 
EXPENSES
   Charges for mortality and expense risk, and
       for administration3,618 1,767 21,845 6,560 29,474 
NET INVESTMENT INCOME (LOSS)(3,618)(1,767)(21,845)(6,560)(29,474)
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received— — — — — 
  Net realized gain (loss) on shares redeemed(5,634)(4,769)(81,483)(8,486)(78,625)
  Net change in unrealized appreciation (depreciation) on investments(168,129)(97,767)(1,735,438)(51,830)(737,903)
NET GAIN (LOSS) ON INVESTMENTS(173,763)(102,536)(1,816,921)(60,316)(816,528)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$(177,381)$(104,303)$(1,838,766)$(66,876)$(846,002)




The accompanying notes are an integral part of these financial statements.
A43


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
PSF Small-Cap Stock Index Portfolio (Class III)PSF Stock Index Portfolio (Class III)PSF PGIM Government Income Portfolio (Class I)Fidelity® VIP High Income Portfolio (Initial Class)MFS® Investors Trust Series (Initial Class)
ASSETS
    Investment in the portfolios, at fair value$7,166,881 $19,160,476 $397,884 $81,374 $554,102 
    Net Assets$7,166,881 $19,160,476 $397,884 $81,374 $554,102 
NET ASSETS, representing:
    Accumulation units$7,166,881 $19,160,476 $397,884 $81,374 $554,102 
$7,166,881 $19,160,476 $397,884 $81,374 $554,102 
     Units outstanding830,671 2,069,617 45,999 8,711 47,833 
     Portfolio shares held142,625 209,519 32,721 18,452 17,171 
     Portfolio net asset value per share$50.25 $91.45 $12.16 $4.41 $32.27 
     Investment in portfolio shares, at cost$8,018,199 $21,239,127 $433,606 $95,936 $701,423 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
PSF Small-Cap Stock Index Portfolio (Class III)PSF Stock Index Portfolio (Class III)PSF PGIM Government Income Portfolio (Class I)Fidelity® VIP High Income Portfolio (Initial Class)MFS® Investors Trust Series (Initial Class)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
INVESTMENT INCOME
   Dividend income$— $— $— $4,374 $3,936 
EXPENSES
   Charges for mortality and expense risk, and
       for administration33,274 84,119 1,269 468 2,505 
NET INVESTMENT INCOME (LOSS)(33,274)(84,119)(1,269)3,906 1,431 
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received— — — — 75,440 
  Net realized gain (loss) on shares redeemed(42,447)(92,751)(1,791)(12,028)(842)
  Net change in unrealized appreciation (depreciation) on investments(987,836)(2,875,361)(33,741)(12,025)(180,744)
NET GAIN (LOSS) ON INVESTMENTS(1,030,283)(2,968,112)(35,532)(24,053)(106,146)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$(1,063,557)$(3,052,231)$(36,801)$(20,147)$(104,715)





The accompanying notes are an integral part of these financial statements.
A44


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
MFS® Utilities Series (Initial Class)MFS® Value Series (Initial Class)Vanguard Capital Growth PortfolioVanguard Diversified Value PortfolioVanguard Equity Income Portfolio
ASSETS
    Investment in the portfolios, at fair value$368,124 $691,454 $276,941 $1,313,194 $868,163 
    Net Assets$368,124 $691,454 $276,941 $1,313,194 $868,163 
NET ASSETS, representing:
    Accumulation units$368,124 $691,454 $276,941 $1,313,194 $868,163 
$368,124 $691,454 $276,941 $1,313,194 $868,163 
     Units outstanding32,744 57,964 24,011 105,293 69,525 
     Portfolio shares held10,136 32,086 7,136 93,733 36,008 
     Portfolio net asset value per share$36.32 $21.55 $38.81 $14.01 $24.11 
     Investment in portfolio shares, at cost$382,205 $716,670 $333,621 $1,492,199 $878,532 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
MFS® Utilities Series (Initial Class)MFS® Value Series (Initial Class)Vanguard Capital Growth PortfolioVanguard Diversified Value PortfolioVanguard Equity Income Portfolio
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
INVESTMENT INCOME
   Dividend income$8,977 $8,825 $2,475 $11,409 $9,914 
EXPENSES
   Charges for mortality and expense risk, and
       for administration752 2,345 1,999 8,390 4,453 
NET INVESTMENT INCOME (LOSS)8,225 6,480 476 3,019 5,461 
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received14,229 37,612 26,743 90,265 42,149 
  Net realized gain (loss) on shares redeemed(766)(2,950)(1,092)(7,621)(2,530)
  Net change in unrealized appreciation (depreciation) on investments(17,829)(100,993)(78,274)(241,134)(38,915)
NET GAIN (LOSS) ON INVESTMENTS(4,366)(66,331)(52,623)(158,490)704 
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$3,859 $(59,851)$(52,147)$(155,471)$6,165 



The accompanying notes are an integral part of these financial statements.
A45


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
Vanguard International PortfolioAmerican Funds IS Ultra-Short Bond Fund (Class 1)BlackRock Advantage Large Cap Core V.I. Fund (Class I)BlackRock Large Cap Focus Growth V.I. Fund (Class I)DFA VA Global Moderate Allocation Portfolio
ASSETS
    Investment in the portfolios, at fair value$866,440 $1,265,009 $411,600 $648,848 $1,769,510 
    Net Assets$866,440 $1,265,009 $411,600 $648,848 $1,769,510 
NET ASSETS, representing:
    Accumulation units$866,440 $1,265,009 $411,600 $648,848 $1,769,510 
$866,440 $1,265,009 $411,600 $648,848 $1,769,510 
     Units outstanding84,107 127,822 35,282 68,575 160,459 
     Portfolio shares held38,474 111,455 24,976 51,211 129,730 
     Portfolio net asset value per share$22.52 $11.35 $16.48 $12.67 $13.64 
     Investment in portfolio shares, at cost$1,364,687 $1,262,646 $520,664 $905,254 $1,999,641 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
Vanguard International PortfolioAmerican Funds IS Ultra-Short Bond Fund (Class 1)BlackRock Advantage Large Cap Core V.I. Fund (Class I)BlackRock Large Cap Focus Growth V.I. Fund (Class I)DFA VA Global Moderate Allocation Portfolio
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
INVESTMENT INCOME
   Dividend income$11,633 $8,688 $4,303 $— $26,704 
EXPENSES
   Charges for mortality and expense risk, and
       for administration6,478 4,632 1,049 2,196 12,915 
NET INVESTMENT INCOME (LOSS)5,155 4,056 3,254 (2,196)13,789 
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received172,458 — 3,948 35,217 26,061 
  Net realized gain (loss) on shares redeemed(75,507)(9)(48,404)(15,441)309 
  Net change in unrealized appreciation (depreciation) on investments(444,837)2,899 (21,744)(255,678)(230,295)
NET GAIN (LOSS) ON INVESTMENTS(347,886)2,890 (66,200)(235,902)(203,925)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$(342,731)$6,946 $(62,946)$(238,098)$(190,136)

The accompanying notes are an integral part of these financial statements.
A46


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
DFA VA International Small PortfolioDFA VA International Value PortfolioClearBridge Variable Aggressive Growth Portfolio (Class I)ClearBridge Variable Appreciation Portfolio (Class I)ClearBridge Variable Dividend Strategy Portfolio (Class I)
ASSETS
    Investment in the portfolios, at fair value$384,360 $300,324 $— $48,404 $752,076 
    Net Assets$384,360 $300,324 $— $48,404 $752,076 
NET ASSETS, representing:
    Accumulation units$384,360 $300,324 $— $48,404 $752,076 
$384,360 $300,324 $— $48,404 $752,076 
     Units outstanding36,639 26,131 — 4,039 61,572 
     Portfolio shares held35,754 24,536 — 962 35,509 
     Portfolio net asset value per share$10.75 $12.24 $15.28 $50.29 $21.18 
     Investment in portfolio shares, at cost$429,737 $318,364 $— $55,818 $857,586 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
DFA VA International Small PortfolioDFA VA International Value PortfolioClearBridge Variable Aggressive Growth Portfolio (Class I)ClearBridge Variable Appreciation Portfolio (Class I)ClearBridge Variable Dividend Strategy Portfolio (Class I)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
INVESTMENT INCOME
   Dividend income$10,158 $11,778 $— $531 $10,751 
EXPENSES
   Charges for mortality and expense risk, and
       for administration1,716 2,009 — 187 2,756 
NET INVESTMENT INCOME (LOSS)8,442 9,769 — 344 7,995 
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received6,916 3,273 — 2,402 64,363 
  Net realized gain (loss) on shares redeemed(6,080)(19,777)— (2,115)(2,122)
  Net change in unrealized appreciation (depreciation) on investments(35,235)(9,902)— (6,870)(117,082)
NET GAIN (LOSS) ON INVESTMENTS(34,399)(26,406)— (6,583)(54,841)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$(25,957)$(16,637)$— $(6,239)$(46,846)


The accompanying notes are an integral part of these financial statements.
A47


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
ClearBridge Variable Large Cap Growth Portfolio (Class I)Franklin Multi-Asset Variable Conservative Growth Fund (Class I)Franklin Multi-Asset Variable Growth Fund (Class I)MFS® Technology Portfolio (Initial Class)MFS® Value Series (Service Class)
ASSETS
    Investment in the portfolios, at fair value$74,479 $22,384 $75,326 $406,791 $13,227,576 
    Net Assets$74,479 $22,384 $75,326 $406,791 $13,227,576 
NET ASSETS, representing:
    Accumulation units$74,479 $22,384 $75,326 $406,791 $13,227,576 
$74,479 $22,384 $75,326 $406,791 $13,227,576 
     Units outstanding7,382 2,154 6,699 42,020 911,737 
     Portfolio shares held2,751 1,741 6,357 20,618 628,986 
     Portfolio net asset value per share$27.07 $12.86 $11.85 $19.73 $21.03 
     Investment in portfolio shares, at cost$110,328 $24,331 $102,075 $585,969 $13,394,891 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
ClearBridge Variable Large Cap Growth Portfolio (Class I)Franklin Multi-Asset Variable Conservative Growth Fund (Class I)Franklin Multi-Asset Variable Growth Fund (Class I)MFS® Technology Portfolio (Initial Class)MFS® Value Series (Service Class)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
INVESTMENT INCOME
   Dividend income$— $517 $2,488 $— $79,908 
EXPENSES
   Charges for mortality and expense risk, and
       for administration356 57 391 1,046 67,956 
NET INVESTMENT INCOME (LOSS)(356)460 2,097 (1,046)11,952 
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received5,706 1,227 6,677 41,571 420,643 
  Net realized gain (loss) on shares redeemed(207)(17)(299)(2,497)(38,037)
  Net change in unrealized appreciation (depreciation) on investments(40,237)(1,947)(22,018)(174,049)(169,108)
NET GAIN (LOSS) ON INVESTMENTS(34,738)(737)(15,640)(134,975)213,498 
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$(35,094)$(277)$(13,543)$(136,021)$225,450 


The accompanying notes are an integral part of these financial statements.
A48


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF NET ASSETS
December 31, 2022
SUBACCOUNTS
PSF PGIM Government Money Market Portfolio (Class III)AST Bond Portfolio 2033
ASSETS
    Investment in the portfolios, at fair value$118,510,407 $260,593 
    Net Assets$118,510,407 $260,593 
NET ASSETS, representing:
    Accumulation units$118,510,407 $260,593 
$118,510,407 $260,593 
     Units outstanding11,776,993 33,465 
     Portfolio shares held11,851,041 32,779 
     Portfolio net asset value per share$10.00 $7.95 
     Investment in portfolio shares, at cost$118,510,407 $264,274 

STATEMENTS OF OPERATIONS
For the period ended December 31, 2022
SUBACCOUNTS
PSF PGIM Government Money Market Portfolio (Class III)AST Bond Portfolio 2033
1/1/20221/3/2022*
toto
12/31/202212/31/2022
INVESTMENT INCOME
   Dividend income$1,218,056 $— 
EXPENSES
   Charges for mortality and expense risk, and
       for administration217,911 2,041 
NET INVESTMENT INCOME (LOSS)1,000,145 (2,041)
NET REALIZED AND UNREALIZED GAIN (LOSS)
   ON INVESTMENTS
  Capital gains distributions received— — 
  Net realized gain (loss) on shares redeemed— 2,689 
  Net change in unrealized appreciation (depreciation) on investments— (3,681)
NET GAIN (LOSS) ON INVESTMENTS— (992)
NET INCREASE (DECREASE) IN NET ASSETS
    RESULTING FROM OPERATIONS$1,000,145 $(3,033)
*Date subaccount became available for investment.


The accompanying notes are an integral part of these financial statements.
A49


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
PSF PGIM Government Money Market Portfolio (Class I)PSF PGIM Total Return Bond Portfolio (Class I)PSF PGIM Jennison Blend Portfolio (Class I)PSF PGIM Flexible Managed Portfolio (Class I)PSF PGIM 50/50 Balanced Portfolio (Class I)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
OPERATIONS
  Net investment income (loss)$65,723 $(1,334,880)$(1,945,694)$(110,019)$(115,533)
  Capital gains distributions received— — — — — 
  Net realized gain (loss) on shares redeemed— 2,496,474 13,716,120 635,441 1,276,877 
  Net change in unrealized appreciation (depreciation) on investments— (19,042,531)(56,706,429)(1,963,376)(2,777,162)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS65,723 (17,880,937)(44,936,003)(1,437,954)(1,615,818)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments9,333,188 642,794 306,357 — 638,645 
  Annuity payments(985,433)(1,282,882)(1,245,501)(105,706)(78,770)
  Surrenders, withdrawals and death benefits(11,933,152)(11,535,012)(16,797,533)(889,046)(2,328,837)
  Net transfers between other subaccounts
    or fixed rate option(652,021)19,758,721 (699,005)(27,607)(10,119)
  Miscellaneous transactions(6,632)2,575 16,896 1,103 3,593 
  Other charges(97,094)(26,998)(95,221)(168)(428)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS(4,341,144)7,559,198 (18,514,007)(1,021,424)(1,775,916)
TOTAL INCREASE (DECREASE) IN NET ASSETS(4,275,421)(10,321,739)(63,450,010)(2,459,378)(3,391,734)
NET ASSETS
  Beginning of period77,044,138 99,490,886 178,082,609 9,478,201 11,001,064 
  End of period$72,768,717 $89,169,147 $114,632,599 $7,018,823 $7,609,330 
  Beginning units59,499,412 32,077,128 27,054,267 2,012,143 2,618,806 
  Units issued14,043,207 2,603,619 177,578 3,224 61,737 
  Units redeemed(17,539,961)(5,133,698)(3,604,731)(249,613)(617,266)
  Ending units56,002,658 29,547,049 23,627,114 1,765,754 2,063,277 
The accompanying notes are an integral part of these financial statements.
A50


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
PSF PGIM Jennison Value Portfolio (Class I)PSF PGIM High Yield Bond Portfolio (Class I)PSF Natural Resources Portfolio (Class I)PSF Stock Index Portfolio (Class I)PSF Global Portfolio (Class I)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
OPERATIONS
  Net investment income (loss)$(2,425,940)$(1,349,359)$(41,133)$(4,693,496)$(599,479)
  Capital gains distributions received— — — — — 
  Net realized gain (loss) on shares redeemed16,914,225 2,127,889 120,567 27,075,370 3,527,045 
  Net change in unrealized appreciation (depreciation) on investments(31,667,165)(13,645,112)588,695 (112,347,049)(13,006,930)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(17,178,880)(12,866,582)668,129 (89,965,175)(10,079,364)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments458,290 264,515 199,392 4,688,804 192,496 
  Annuity payments(1,620,867)(534,747)(35,967)(2,774,472)(180,883)
  Surrenders, withdrawals and death benefits(19,092,152)(10,475,003)(379,775)(30,859,877)(4,681,652)
  Net transfers between other subaccounts
    or fixed rate option(6,185,038)(2,290,102)60,269 (13,233,821)(609,604)
  Miscellaneous transactions23,708 361 1,552 32,084 6,656 
  Other charges(215,616)(123,440)(667)(820,759)(45,893)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS(26,631,675)(13,158,416)(155,196)(42,968,041)(5,318,880)
TOTAL INCREASE (DECREASE) IN NET ASSETS(43,810,555)(26,024,998)512,933 (132,933,216)(15,398,244)
NET ASSETS
  Beginning of period190,554,194 106,644,415 3,311,771 480,946,716 51,891,491 
  End of period$146,743,639 $80,619,417 $3,824,704 $348,013,500 $36,493,247 
  Beginning units39,450,919 17,135,562 448,961 54,884,499 11,459,971 
  Units issued387,027 354,597 40,332 925,242 89,472 
  Units redeemed(6,438,395)(2,534,397)(78,131)(7,203,907)(1,532,325)
  Ending units33,399,551 14,955,762 411,162 48,605,834 10,017,118 
The accompanying notes are an integral part of these financial statements.
A51


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
PSF PGIM Jennison Growth Portfolio (Class I)PSF Small-Cap Stock Index Portfolio (Class I)T. Rowe Price International Stock PortfolioT. Rowe Price Equity Income Portfolio (Equity Income Portfolio Class)Invesco V.I. Core Equity Fund (Series I)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
OPERATIONS
  Net investment income (loss)$(3,668,687)$(754,413)$(80,266)$201,571 $(260,755)
  Capital gains distributions received— — 279,827 2,168,538 7,842,813 
  Net realized gain (loss) on shares redeemed24,800,391 4,659,101 (52,403)1,527,736 747,407 
  Net change in unrealized appreciation (depreciation) on investments(158,160,103)(17,237,739)(2,712,549)(6,133,510)(22,072,934)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(137,028,399)(13,333,051)(2,565,391)(2,235,665)(13,743,469)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments643,843 652,357 28,407 118,908 47,241 
  Annuity payments(2,401,678)(421,250)(86,476)(572,999)(743,791)
  Surrenders, withdrawals and death benefits(27,379,161)(5,009,852)(1,370,834)(5,319,721)(5,340,835)
  Net transfers between other subaccounts
    or fixed rate option4,062,797 (2,634,663)156,376 (870,793)(1,470,791)
  Miscellaneous transactions24,448 206 518 (3,783)1,199 
  Other charges(189,478)(107,140)(1,746)(7,775)(11,078)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS(25,239,229)(7,520,342)(1,273,755)(6,656,163)(7,518,055)
TOTAL INCREASE (DECREASE) IN NET ASSETS(162,267,628)(20,853,393)(3,839,146)(8,891,828)(21,261,524)
NET ASSETS
  Beginning of period366,144,961 78,688,456 15,279,850 50,667,259 66,311,091 
  End of period$203,877,333 $57,835,063 $11,440,704 $41,775,431 $45,049,567 
  Beginning units38,460,268 7,399,505 6,393,649 9,163,403 13,690,609 
  Units issued775,666 272,529 219,875 144,516 22,754 
  Units redeemed(4,552,621)(1,112,062)(842,251)(1,380,669)(1,814,950)
  Ending units34,683,313 6,559,972 5,771,273 7,927,250 11,898,413 
The accompanying notes are an integral part of these financial statements.
A52


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
Janus Henderson VIT Research Portfolio (Institutional Shares)Janus Henderson VIT Overseas Portfolio (Institutional Shares)MFS® Research Series (Initial Class)MFS® Growth Series (Initial Class)American Century VP Value Fund (Class I)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
OPERATIONS
  Net investment income (loss)$(315,443)$145,484 $(125,950)$(798,070)$129,775 
  Capital gains distributions received7,885,932 — 1,772,314 6,497,598 1,524,087 
  Net realized gain (loss) on shares redeemed1,312,392 912,442 651,790 2,129,614 1,201,668 
  Net change in unrealized appreciation (depreciation) on investments(27,515,147)(6,046,761)(5,422,252)(32,824,547)(3,062,904)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(18,632,266)(4,988,835)(3,124,098)(24,995,405)(207,374)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments42,634 53,454 9,342 46,779 37,385 
  Annuity payments(648,604)(223,301)(305,405)(411,524)(110,529)
  Surrenders, withdrawals and death benefits(5,264,196)(3,498,387)(1,663,298)(5,322,438)(2,120,556)
  Net transfers between other subaccounts
    or fixed rate option209,188 (727,110)160,239 59,126 713,658 
  Miscellaneous transactions3,070 8,820 5,638 6,075 1,386 
  Other charges(8,783)(7,014)(2,755)(9,449)(2,691)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS(5,666,691)(4,393,538)(1,796,239)(5,631,431)(1,481,347)
TOTAL INCREASE (DECREASE) IN NET ASSETS(24,298,957)(9,382,373)(4,920,337)(30,626,836)(1,688,721)
NET ASSETS
  Beginning of period62,447,719 49,175,508 17,534,497 79,185,162 20,001,354 
  End of period$38,148,762 $39,793,135 $12,614,160 $48,558,326 $18,312,633 
  Beginning units9,624,173 10,243,010 2,909,381 9,407,063 3,742,910 
  Units issued81,287 219,064 51,269 112,334 394,206 
  Units redeemed(1,189,282)(1,261,730)(439,614)(947,783)(682,901)
  Ending units8,516,178 9,200,344 2,521,036 8,571,614 3,454,215 
The accompanying notes are an integral part of these financial statements.
A53


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
Franklin Small-Mid Cap Growth VIP Fund (Class 2)PSF PGIM Jennison Focused Blend Portfolio (Class I)Davis Value PortfolioAB VPS Large Cap Growth Portfolio (Class B)PSF Small-Cap Value Portfolio (Class I)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
OPERATIONS
  Net investment income (loss)$(250,383)$(436,482)$(31,439)$(110,302)$(905,516)
  Capital gains distributions received4,676,279 — 3,431,454 1,014,238 — 
  Net realized gain (loss) on shares redeemed(708,395)3,495,345 (666,775)344,380 5,710,249 
  Net change in unrealized appreciation (depreciation) on investments(12,441,947)(13,984,256)(6,910,552)(4,372,994)(15,335,112)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(8,724,446)(10,925,393)(4,177,312)(3,124,678)(10,530,379)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments18,020 18,196 34,380 1,290 216,862 
  Annuity payments(127,337)(427,526)(189,505)(17,031)(267,866)
  Surrenders, withdrawals and death benefits(1,578,774)(3,897,209)(1,839,196)(769,659)(6,833,058)
  Net transfers between other subaccounts
    or fixed rate option413,149 (219,691)(98,883)(351,767)(1,196,198)
  Miscellaneous transactions1,371 (3,177)7,965 325 7,640 
  Other charges(3,384)(4,773)(2,517)(1,143)(139,775)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS(1,276,955)(4,534,180)(2,087,756)(1,137,985)(8,212,395)
TOTAL INCREASE (DECREASE) IN NET ASSETS(10,001,401)(15,459,573)(6,265,068)(4,262,663)(18,742,774)
NET ASSETS
  Beginning of period25,439,338 41,977,410 20,236,224 11,136,344 69,460,964 
  End of period$15,437,937 $26,517,837 $13,971,156 $6,873,681 $50,718,190 
  Beginning units3,959,175 7,158,854 6,752,123 3,332,837 16,061,979 
  Units issued111,012 22,263 121,852 265,134 200,103 
  Units redeemed(380,877)(1,006,068)(954,907)(672,500)(2,366,747)
  Ending units3,689,310 6,175,049 5,919,068 2,925,471 13,895,335 
The accompanying notes are an integral part of these financial statements.
A54


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
Janus Henderson VIT Research Portfolio (Service Shares)PSF Mid-Cap Growth Portfolio (Class I)PSF International Growth Portfolio (Class I)AST Cohen & Steers Realty PortfolioAST J.P. Morgan Tactical Preservation Portfolio
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
OPERATIONS
  Net investment income (loss)$(84,440)$(1,202,186)$(336,824)$(2,341,870)$(35,539,141)
  Capital gains distributions received1,385,981 — — — — 
  Net realized gain (loss) on shares redeemed309,351 7,877,178 1,484,843 21,591,844 3,352,364 
  Net change in unrealized appreciation (depreciation) on investments(4,856,605)(34,983,394)(10,054,502)(83,408,074)(516,367,082)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(3,245,713)(28,308,402)(8,906,483)(64,158,100)(548,553,859)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments1,985 96,203 53,825 1,488,303 1,211,185 
  Annuity payments(44,436)(359,050)(127,667)(190,334)(846,472)
  Surrenders, withdrawals and death benefits(860,822)(9,091,026)(2,728,571)(15,412,484)(182,926,599)
  Net transfers between other subaccounts
    or fixed rate option45,183 770,002 13,339 (32,535,835)(662,225,562)
  Miscellaneous transactions(255)(2,655)(3,661)(1,046)34,976 
  Other charges(20,924)(174,725)(51,597)(1,709,520)(31,503,304)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS(879,269)(8,761,251)(2,844,332)(48,360,916)(876,255,776)
TOTAL INCREASE (DECREASE) IN NET ASSETS(4,124,982)(37,069,653)(11,750,815)(112,519,016)(1,424,809,635)
NET ASSETS
  Beginning of period10,776,447 102,930,411 30,144,492 266,660,811 3,368,962,565 
  End of period$6,651,465 $65,860,758 $18,393,677 $154,141,795 $1,944,152,930 
  Beginning units2,699,710 15,674,179 9,781,701 8,614,880 197,465,395 
  Units issued84,004 432,246 486,114 1,392,703 46,477,443 
  Units redeemed(344,572)(2,160,616)(1,681,978)(3,142,320)(106,335,292)
  Ending units2,439,142 13,945,809 8,585,837 6,865,263 137,607,546 


The accompanying notes are an integral part of these financial statements.
A55


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
AST T. Rowe Price Large-Cap Value PortfolioAST High Yield PortfolioAST Small-Cap Growth Opportunities PortfolioAST Small-Cap Value PortfolioAST Mid-Cap Growth Portfolio
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
2/11/2022**12/31/20229/9/2022**12/31/202212/31/2022
OPERATIONS
  Net investment income (loss)$(1,055,729)$(1,949,831)$(1,293,144)$(2,992,206)$(6,074,468)
  Capital gains distributions received— — — — — 
  Net realized gain (loss) on shares redeemed250,088,249 7,360,150 18,703,447 9,399,459 24,171,787 
  Net change in unrealized appreciation (depreciation) on investments(243,971,314)(31,598,223)(67,920,629)(37,900,787)(234,736,509)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS5,061,206 (26,187,904)(50,510,326)(31,493,534)(216,639,190)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments620,634 1,030,041 890,222 2,051,489 3,122,247 
  Annuity payments(384,085)(72,327)(134,581)(221,282)(450,180)
  Surrenders, withdrawals and death benefits(6,917,566)(15,188,319)(7,791,847)(18,188,378)(36,362,734)
  Net transfers between other subaccounts
    or fixed rate option(750,721,669)(33,944,723)(134,630,806)217,453,548 (22,135,182)
  Miscellaneous transactions(13,315)1,140 15,895 (13,403)(22,749)
  Other charges(738,848)(1,326,475)(936,684)(2,266,619)(4,587,669)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS(758,154,849)(49,500,663)(142,587,801)198,815,355 (60,436,267)
TOTAL INCREASE (DECREASE) IN NET ASSETS(753,093,643)(75,688,567)(193,098,127)167,321,821 (277,075,457)
NET ASSETS
  Beginning of period753,093,643 223,789,010 193,098,127 143,175,242 676,220,737 
  End of period$— $148,100,443 $— $310,497,063 $399,145,280 
  Beginning units33,756,389 13,344,265 5,883,124 5,401,216 19,030,866 
  Units issued212,211 1,659,641 1,073,492 13,171,958 4,199,819 
  Units redeemed(33,968,600)(4,826,887)(6,956,616)(4,572,103)(6,540,159)
  Ending units— 10,177,019 — 14,001,071 16,690,526 

**Date subaccount was no longer available for investment.
The accompanying notes are an integral part of these financial statements.
A56


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
AST Large-Cap Value PortfolioAST Loomis Sayles Large-Cap Growth PortfolioAST MFS Growth PortfolioAST Mid-Cap Value PortfolioAST BlackRock Low Duration Bond Portfolio
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/20226/10/2022**6/10/2022**12/31/20222/11/2022**
OPERATIONS
  Net investment income (loss)$(13,315,401)$(2,277,763)$(1,292,102)$(4,748,650)$(260,385)
  Capital gains distributions received— — — — — 
  Net realized gain (loss) on shares redeemed38,576,593 106,027,192 55,981,317 45,358,266 3,540,826 
  Net change in unrealized appreciation (depreciation) on investments(74,216,143)(232,603,911)(141,567,331)(83,200,581)(6,372,732)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(48,954,951)(128,854,482)(86,878,116)(42,590,965)(3,092,291)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments9,577,276 1,380,080 2,351,318 3,293,448 417,654 
  Annuity payments(276,673)(193,892)(8,836)(188,783)(290,222)
  Surrenders, withdrawals and death benefits(81,566,402)(12,800,723)(6,733,781)(29,472,321)(2,282,176)
  Net transfers between other subaccounts
    or fixed rate option783,512,607 (329,832,200)(214,745,169)(77,782,682)(186,321,820)
  Miscellaneous transactions(45,333)(19,723)(1,128)(11,924)3,104 
  Other charges(10,800,049)(1,467,158)(858,574)(3,463,984)(151,100)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS700,401,426 (342,933,616)(219,996,170)(107,626,246)(188,624,560)
TOTAL INCREASE (DECREASE) IN NET ASSETS651,446,475 (471,788,098)(306,874,286)(150,217,211)(191,716,851)
NET ASSETS
  Beginning of period480,280,047 471,788,098 306,874,286 475,239,904 191,716,851 
  End of period$1,131,726,522 $— $— $325,022,693 $— 
  Beginning units17,212,328 10,312,078 7,012,684 17,183,477 18,363,494 
  Units issued38,325,411 562,615 477,187 2,267,135 220,245 
  Units redeemed(14,682,220)(10,874,693)(7,489,871)(6,293,360)(18,583,739)
  Ending units40,855,519 — — 13,157,252 — 

**Date subaccount was no longer available for investment.
The accompanying notes are an integral part of these financial statements.
A57


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
AST T. Rowe Price Natural Resources PortfolioAST T. Rowe Price Asset Allocation PortfolioAST MFS Global Equity PortfolioAST J.P. Morgan International Equity PortfolioAST Wellington Management Hedged Equity Portfolio
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
OPERATIONS
  Net investment income (loss)$(2,576,108)$(163,967,203)$(4,117,391)$(2,349,385)$(18,059,748)
  Capital gains distributions received— — — — — 
  Net realized gain (loss) on shares redeemed41,298,428 628,464,724 27,910,189 6,637,760 99,400,771 
  Net change in unrealized appreciation (depreciation) on investments(32,586,031)(3,022,815,700)(108,555,051)(56,403,495)(225,985,067)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS6,136,289 (2,558,318,179)(84,762,253)(52,115,120)(144,644,044)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments1,437,497 6,797,778 2,062,656 497,153 906,859 
  Annuity payments(251,162)(2,774,947)(216,549)(87,302)(883,950)
  Surrenders, withdrawals and death benefits(15,076,987)(818,070,991)(23,509,298)(9,943,012)(88,836,811)
  Net transfers between other subaccounts
    or fixed rate option(71,873,416)(1,260,915,475)(45,766,823)(31,540,786)(114,472,418)
  Miscellaneous transactions696 386,609 8,365 (5,202)(25,458)
  Other charges(1,923,036)(141,752,282)(3,207,631)(1,684,098)(15,635,218)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS(87,686,408)(2,216,329,308)(70,629,280)(42,763,247)(218,946,996)
TOTAL INCREASE (DECREASE) IN NET ASSETS(81,550,119)(4,774,647,487)(155,391,533)(94,878,367)(363,591,040)
NET ASSETS
  Beginning of period240,333,932 14,698,824,549 451,075,028 234,586,108 1,481,617,318 
  End of period$158,783,813 $9,924,177,062 $295,683,495 $139,707,741 $1,118,026,278 
  Beginning units19,538,045 663,851,155 15,827,534 13,167,006 83,618,502 
  Units issued4,897,063 89,993,898 1,840,957 3,179,166 15,687,103 
  Units redeemed(12,215,561)(211,303,490)(4,741,784)(6,345,271)(30,173,156)
  Ending units12,219,547 542,541,563 12,926,707 10,000,901 69,132,449 





The accompanying notes are an integral part of these financial statements.
A58


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
AST Capital Growth Asset Allocation PortfolioAST Academic Strategies Asset Allocation PortfolioAST Balanced Asset Allocation PortfolioAST Preservation Asset Allocation PortfolioAST Prudential Growth Allocation Portfolio
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
OPERATIONS
  Net investment income (loss)$(117,698,203)$(29,570,279)$(91,544,966)$(44,531,374)$(136,054,599)
  Capital gains distributions received— — — — — 
  Net realized gain (loss) on shares redeemed715,855,121 196,446,364 518,864,702 253,448,129 827,253,068 
  Net change in unrealized appreciation (depreciation) on investments(2,421,183,345)(532,956,528)(1,869,938,462)(867,020,425)(3,183,478,641)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(1,823,026,427)(366,080,443)(1,442,618,726)(658,103,670)(2,492,280,172)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments3,841,495 915,653 9,414,379 4,980,266 2,698,573 
  Annuity payments(2,052,935)(813,618)(4,284,526)(2,199,779)(1,397,057)
  Surrenders, withdrawals and death benefits(503,252,695)(139,607,334)(473,662,254)(303,844,614)(633,686,810)
  Net transfers between other subaccounts
    or fixed rate option(811,145,446)(669,055,992)1,967,267,877 (700,634,109)(2,012,991,961)
  Miscellaneous transactions264,163 36,615 120,783 92,943 280,519 
  Other charges(90,995,071)(20,816,700)(71,737,434)(33,980,281)(121,201,950)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS(1,403,340,489)(829,341,376)1,427,118,825 (1,035,585,574)(2,766,298,686)
TOTAL INCREASE (DECREASE) IN NET ASSETS(3,226,366,916)(1,195,421,819)(15,499,901)(1,693,689,244)(5,258,578,858)
NET ASSETS
  Beginning of period10,091,463,868 2,675,668,064 7,812,318,113 4,073,050,154 13,036,418,610 
  End of period$6,865,096,952 $1,480,246,245 $7,796,818,212 $2,379,360,910 $7,777,839,752 
  Beginning units419,221,772 166,410,129 367,938,201 239,413,526 606,989,560 
  Units issued60,886,321 39,696,064 186,207,165 47,613,486 131,910,883 
  Units redeemed(133,042,969)(97,518,922)(109,335,349)(119,034,650)(290,073,468)
  Ending units347,065,124 108,587,271 444,810,017 167,992,362 448,826,975 


The accompanying notes are an integral part of these financial statements.
A59


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
AST Advanced Strategies PortfolioAST Large-Cap Growth PortfolioAST Government Money Market PortfolioAST Small-Cap Growth PortfolioAST BlackRock/Loomis Sayles Bond Portfolio
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/20222/11/2022**
OPERATIONS
  Net investment income (loss)$(72,170,801)$(16,071,759)$526,935 $(3,492,840)$(2,427,776)
  Capital gains distributions received— — — — — 
  Net realized gain (loss) on shares redeemed440,582,526 71,943,846 — 15,009,532 94,579,192 
  Net change in unrealized appreciation (depreciation) on investments(1,487,234,541)(509,232,566)— (117,722,886)(145,523,574)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(1,118,822,816)(453,360,479)526,935 (106,206,194)(53,372,158)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments1,570,585 9,978,919 14,447,296 2,202,080 420,705 
  Annuity payments(781,985)(715,921)(1,283,331)(281,159)(368,918)
  Surrenders, withdrawals and death benefits(369,698,182)(96,231,754)(1,030,762,014)(21,900,000)(16,374,744)
  Net transfers between other subaccounts
    or fixed rate option(497,351,024)713,319,863 1,069,080,596 97,454,580 (1,519,724,048)
  Miscellaneous transactions113,157 47,752 (6,456)2,032 7,085 
  Other charges(61,121,766)(11,592,533)(2,128,581)(2,492,441)(1,644,711)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS(927,269,215)614,806,326 49,347,510 74,985,092 (1,537,684,631)
TOTAL INCREASE (DECREASE) IN NET ASSETS(2,046,092,031)161,445,847 49,874,445 (31,221,102)(1,591,056,789)
NET ASSETS
  Beginning of period6,388,505,914 1,225,164,295 333,433,017 334,668,547 1,591,056,789 
  End of period$4,342,413,883 $1,386,610,142 $383,307,462 $303,447,445 $— 
  Beginning units282,766,129 23,701,445 36,208,071 8,474,137 124,129,321 
  Units issued35,181,937 30,722,434 41,387,438 6,534,831 367,061 
  Units redeemed(84,823,298)(12,254,696)(36,125,181)(4,006,635)(124,496,382)
  Ending units233,124,768 42,169,183 41,470,328 11,002,333 — 

**Date subaccount was no longer available for investment.

The accompanying notes are an integral part of these financial statements.
A60


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
AST International Value PortfolioAST International Growth PortfolioAST Investment Grade Bond PortfolioAST Core Fixed Income PortfolioAST Cohen & Steers Global Realty Portfolio
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
OPERATIONS
  Net investment income (loss)$(1,318,977)$(2,467,900)$(89,394,332)$(31,047,144)$(675,985)
  Capital gains distributions received— — — — — 
  Net realized gain (loss) on shares redeemed3,828,577 7,127,507 (102,376,014)(96,389,417)4,624,882 
  Net change in unrealized appreciation (depreciation) on investments(18,085,243)(102,272,653)(67,483,263)(346,274,979)(21,963,255)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(15,575,643)(97,613,046)(259,253,609)(473,711,540)(18,014,358)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments901,173 2,253,667 1,827 8,268,845 771,954 
  Annuity payments(348,087)(69,367)(1,576,878)(1,639,370)(4,916)
  Surrenders, withdrawals and death benefits(7,666,293)(16,759,585)(362,488,857)(180,793,121)(3,850,943)
  Net transfers between other subaccounts
    or fixed rate option(15,854,722)(2,057,610)10,619,608,783 1,536,591,655 (11,235,902)
  Miscellaneous transactions3,521 (2,536)15,834 1,685 4,997 
  Other charges(889,134)(2,251,931)(96,755,940)(25,109,535)(514,470)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS(23,853,542)(18,887,362)10,158,804,769 1,337,320,159 (14,829,280)
TOTAL INCREASE (DECREASE) IN NET ASSETS(39,429,185)(116,500,408)9,899,551,160 863,608,619 (32,843,638)
NET ASSETS
  Beginning of period134,430,857 324,900,784 965,063,727 1,362,293,587 75,510,048 
  End of period$95,001,672 $208,400,376 $10,864,614,887 $2,225,902,206 $42,666,410 
  Beginning units10,044,984 13,568,408 58,907,610 96,331,712 3,490,533 
  Units issued1,979,364 2,899,806 2,013,887,584 192,564,356 863,394 
  Units redeemed(3,975,556)(3,999,989)(1,211,965,593)(96,897,955)(1,628,779)
  Ending units8,048,792 12,468,225 860,829,601 191,998,113 2,725,148 
The accompanying notes are an integral part of these financial statements.
A61


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
AST Emerging Markets Equity PortfolioAST Goldman Sachs Small-Cap Value PortfolioAST Moderate Multi-Asset PortfolioAST J.P. Morgan Global Thematic PortfolioProFund VP Consumer Services
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/20226/10/2022**12/2/2022**12/31/202212/31/2022
OPERATIONS
  Net investment income (loss)$(2,279,432)$(1,655,754)$(39,020,009)$(28,125,027)$(5,911)
  Capital gains distributions received— — — — 5,910 
  Net realized gain (loss) on shares redeemed1,207,109 95,932,824 738,171,045 179,348,769 (52,358)
  Net change in unrealized appreciation (depreciation) on investments(50,629,312)(133,059,591)(1,334,485,883)(614,128,745)(174,443)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(51,701,635)(38,782,521)(635,334,847)(462,905,003)(226,802)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments468,974 1,119,637 668,803 428,810 — 
  Annuity payments(159,659)(83,960)(342,221)(249,742)— 
  Surrenders, withdrawals and death benefits(11,265,745)(8,841,930)(208,252,119)(124,082,853)(19,568)
  Net transfers between other subaccounts
    or fixed rate option(51,271,828)(289,210,786)(3,040,796,943)(308,084,709)10,669 
  Miscellaneous transactions(3,538)2,606 40,182 10,021 — 
  Other charges(1,810,587)(1,213,374)(35,315,617)(25,059,814)(3,218)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS(64,042,383)(298,227,807)(3,283,997,915)(457,038,287)(12,117)
TOTAL INCREASE (DECREASE) IN NET ASSETS(115,744,018)(337,010,328)(3,919,332,762)(919,943,290)(238,919)
NET ASSETS
  Beginning of period254,681,812 337,010,328 3,919,332,762 2,567,980,921 683,780 
  End of period$138,937,794 $— $— $1,648,037,631 $444,861 
  Beginning units23,597,531 11,731,776 209,833,453 124,741,260 15,732 
  Units issued6,903,560 355,404 36,139,459 23,122,748 5,409 
  Units redeemed(13,914,123)(12,087,180)(245,972,912)(50,239,705)(5,971)
  Ending units16,586,968 — — 97,624,303 15,170 

**Date subaccount was no longer available for investment.
The accompanying notes are an integral part of these financial statements.
A62


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
ProFund VP Consumer GoodsProFund VP FinancialsProFund VP Health CareProFund VP IndustrialsProFund VP Mid-Cap Growth
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
OPERATIONS
  Net investment income (loss)$(2,790)$(6,968)$(21,464)$(5,068)$(8,085)
  Capital gains distributions received9,163 6,590 101,420 6,981 165,297 
  Net realized gain (loss) on shares redeemed18,526 46,429 38,197 15,398 (56,422)
  Net change in unrealized appreciation (depreciation) on investments(101,769)(167,731)(322,561)(110,690)(324,308)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(76,870)(121,680)(204,408)(93,379)(223,518)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments— — — — — 
  Annuity payments— (33,272)(17,098)(17,067)— 
  Surrenders, withdrawals and death benefits(7,518)(27,127)(191,427)(12,042)(12,815)
  Net transfers between other subaccounts
    or fixed rate option(81,199)(163,749)(490,776)(7,861)(104,881)
  Miscellaneous transactions(304)(13)524 1,409 
  Other charges(1,920)(4,763)(14,529)(3,104)(5,122)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS(90,941)(228,924)(713,306)(40,066)(121,409)
TOTAL INCREASE (DECREASE) IN NET ASSETS(167,811)(350,604)(917,714)(133,445)(344,927)
NET ASSETS
  Beginning of period335,820 765,598 2,389,285 552,163 1,026,396 
  End of period$168,009 $414,994 $1,471,571 $418,718 $681,469 
  Beginning units10,351 40,034 62,121 18,010 34,098 
  Units issued7,356 17,938 12,860 3,855 9,132 
  Units redeemed(10,417)(34,856)(32,813)(5,431)(14,211)
  Ending units7,290 23,116 42,168 16,434 29,019 





The accompanying notes are an integral part of these financial statements.
A63


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
ProFund VP Mid-Cap ValueProFund VP Real EstateProFund VP Small-Cap GrowthProFund VP Small-Cap ValueProFund VP Telecommunications
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
OPERATIONS
  Net investment income (loss)$(6,624)$(1,039)$(6,181)$(4,156)$404 
  Capital gains distributions received92,763 18,662 101,386 62,215 — 
  Net realized gain (loss) on shares redeemed14,773 3,339 (28,522)(22,448)199 
  Net change in unrealized appreciation (depreciation) on investments(182,184)(122,620)(259,782)(99,831)(26,291)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(81,272)(101,658)(193,099)(64,220)(25,688)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments— — — — — 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(20,355)(14,868)(14,734)(15,997)(2,788)
  Net transfers between other subaccounts
    or fixed rate option(187,991)(84,752)(61,640)(51,535)(39,805)
  Miscellaneous transactions794 (170)— — 
  Other charges(5,088)(2,566)(3,709)(3,096)(496)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS(212,640)(102,184)(80,253)(70,628)(43,089)
TOTAL INCREASE (DECREASE) IN NET ASSETS(293,912)(203,842)(273,352)(134,848)(68,777)
NET ASSETS
  Beginning of period799,591 409,225 809,178 412,366 136,599 
  End of period$505,679 $205,383 $535,826 $277,518 $67,822 
  Beginning units32,580 18,068 22,748 15,650 9,768 
  Units issued4,990 6,258 5,183 6,283 1,972 
  Units redeemed(14,595)(13,102)(8,425)(9,132)(5,429)
  Ending units22,975 11,224 19,506 12,801 6,311 
The accompanying notes are an integral part of these financial statements.
A64


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
ProFund VP UtilitiesProFund VP Large-Cap GrowthProFund VP Large-Cap ValueAST Jennison Large-Cap Growth PortfolioAllspring VT International Equity Fund (Class 1)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/20226/10/2022**12/31/2022
OPERATIONS
  Net investment income (loss)$(881)$(13,631)$(7,336)$(1,847,947)$2,748 
  Capital gains distributions received5,877 234,022 17,247 — — 
  Net realized gain (loss) on shares redeemed322 (74,242)56,156 48,400,736 (3,443)
  Net change in unrealized appreciation (depreciation) on investments(14,049)(640,820)(196,425)(198,041,353)(15,251)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(8,731)(494,671)(130,358)(151,488,564)(15,946)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments— — — 900,510 — 
  Annuity payments— — — (115,036)— 
  Surrenders, withdrawals and death benefits(23,027)(37,127)(37,061)(11,951,829)(2,972)
  Net transfers between other subaccounts
    or fixed rate option72,997 (494,776)(306,120)(288,409,522)511 
  Miscellaneous transactions7,606 1,684 12,983 — 
  Other charges(5,646)(7,234)(7,041)(1,247,929)(328)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS44,331 (531,531)(348,538)(300,810,823)(2,789)
TOTAL INCREASE (DECREASE) IN NET ASSETS35,600 (1,026,202)(478,896)(452,299,387)(18,735)
NET ASSETS
  Beginning of period589,225 1,631,523 1,506,596 452,299,387 125,137 
  End of period$624,825 $605,321 $1,027,700 $— $106,402 
  Beginning units26,226 38,652 65,234 9,413,631 6,370 
  Units issued13,323 8,404 10,127 730,527 34 
  Units redeemed(12,263)(26,436)(28,347)(10,144,158)(188)
  Ending units27,286 20,620 47,014 — 6,216 

**Date subaccount was no longer available for investment.
The accompanying notes are an integral part of these financial statements.
A65


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
Allspring VT Omega Growth Fund (Class 1)Allspring VT Small Cap Growth Fund (Class 1)AST Bond Portfolio 2022AST Quantitative Modeling PortfolioAST BlackRock Global Strategies Portfolio
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
OPERATIONS
  Net investment income (loss)$(6,333)$(4,460)$(708,668)$(9,328,181)$(20,571,865)
  Capital gains distributions received89,308 41,183 — — — 
  Net realized gain (loss) on shares redeemed270 14,310 (182,074)50,235,511 98,708,600 
  Net change in unrealized appreciation (depreciation) on investments(291,842)(184,454)(465,010)(289,254,391)(409,917,895)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(208,597)(133,421)(1,355,752)(248,347,061)(331,781,160)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments— — — 12,980,481 432,261 
  Annuity payments— — — (20,193)(2,329,550)
  Surrenders, withdrawals and death benefits(28,380)(102,830)(3,224,035)(139,042,018)(98,710,743)
  Net transfers between other subaccounts
    or fixed rate option30,311 32,055 (49,464,034)(23,349,169)(223,353,851)
  Miscellaneous transactions— — 846 20,386 16,351 
  Other charges(830)(410)(54,272)(3,977,865)(17,071,545)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS1,101 (71,185)(52,741,495)(153,388,378)(341,017,077)
TOTAL INCREASE (DECREASE) IN NET ASSETS(207,496)(204,606)(54,097,247)(401,735,439)(672,798,237)
NET ASSETS
  Beginning of period550,621 417,467 54,457,490 1,313,627,495 1,844,920,582 
  End of period$343,125 $212,861 $360,243 $911,892,056 $1,172,122,345 
  Beginning units63,391 9,327 4,589,319 69,769,471 118,258,265 
  Units issued5,122 986 483,326 1,477,210 23,177,004 
  Units redeemed(4,819)(2,976)(5,042,151)(10,253,037)(49,822,225)
  Ending units63,694 7,337 30,494 60,993,644 91,613,044 



The accompanying notes are an integral part of these financial statements.
A66


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
Allspring VT Opportunity Fund (Class 1)AST Prudential Core Bond PortfolioAST Bond Portfolio 2023AST MFS Growth Allocation PortfolioAST Western Asset Emerging Markets Debt Portfolio
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/20222/11/2022**12/31/202212/31/202212/31/2022
OPERATIONS
  Net investment income (loss)$(10,332)$(559,534)$(578,346)$(9,780,430)$(62,563)
  Capital gains distributions received109,311 — — — — 
  Net realized gain (loss) on shares redeemed96,009 17,499,052 (25,416)68,771,291 (185,851)
  Net change in unrealized appreciation (depreciation) on investments(370,882)(33,182,378)(358,381)(251,226,658)(1,431,660)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(175,894)(16,242,860)(962,143)(192,235,797)(1,680,074)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments— 83,975 — 2,419,004 129,121 
  Annuity payments— (357,578)(13,611)(58,551)— 
  Surrenders, withdrawals and death benefits(313,876)(4,034,829)(4,738,617)(41,522,918)(635,552)
  Net transfers between other subaccounts
    or fixed rate option(6,607)(415,439,168)58,198,640 (163,471,454)158,832 
  Miscellaneous transactions— 747 (2,405)16,141 (657)
  Other charges(1,147)(431,417)(8,167)(9,586,451)(35,150)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS(321,630)(420,178,270)53,435,840 (212,204,229)(383,406)
TOTAL INCREASE (DECREASE) IN NET ASSETS(497,524)(436,421,130)52,473,697 (404,440,026)(2,063,480)
NET ASSETS
  Beginning of period998,904 436,421,130 4,648,931 965,447,633 9,797,068 
  End of period$501,380 $— $57,122,628 $561,007,607 $7,733,588 
  Beginning units26,745 35,739,000 448,105 51,267,016 847,320 
  Units issued96 200,524 6,199,772 18,367,764 331,064 
  Units redeemed(9,717)(35,939,524)(756,642)(32,932,007)(371,075)
  Ending units17,124 — 5,891,235 36,702,773 807,309 

**Date subaccount was no longer available for investment.
The accompanying notes are an integral part of these financial statements.
A67


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
AST MFS Large-Cap Value PortfolioAST Bond Portfolio 2024AST ClearBridge Dividend Growth PortfolioAST Multi-Sector Fixed Income PortfolioAST Large-Cap Core Portfolio
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
2/11/2022**12/31/202212/31/202212/31/202212/31/2022
OPERATIONS
  Net investment income (loss)$(346,453)$(28,189)$(2,131,740)$(225,047,299)$(2,738,321)
  Capital gains distributions received— — — — — 
  Net realized gain (loss) on shares redeemed73,358,292 (24,132)17,023,524 154,845,336 (5,207,558)
  Net change in unrealized appreciation (depreciation) on investments(86,689,320)(28,274)(33,167,688)(3,176,488,851)(46,019,983)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(13,677,481)(80,595)(18,275,904)(3,246,690,814)(53,965,862)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments429,362 — 1,157,907 — 1,874,832 
  Annuity payments— — (226,496)(1,896,430)(269,007)
  Surrenders, withdrawals and death benefits(1,999,357)(292,736)(14,545,919)(1,024,668,934)(18,906,575)
  Net transfers between other subaccounts
    or fixed rate option(244,983,384)2,034,966 (3,919,170)— (29,910,235)
  Miscellaneous transactions7,464 — (4,270)308,326 (2,180)
  Other charges(236,461)(497)(1,538,278)(1,530,386)(1,936,195)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS(246,782,376)1,741,733 (19,076,226)(1,027,787,424)(49,149,360)
TOTAL INCREASE (DECREASE) IN NET ASSETS(260,459,857)1,661,138 (37,352,130)(4,274,478,238)(103,115,222)
NET ASSETS
  Beginning of period260,459,857 345,533 201,162,567 14,674,470,572 314,091,313 
  End of period$— $2,006,671 $163,810,437 $10,399,992,334 $210,976,091 
  Beginning units10,358,241 32,967 8,130,417 1,120,446,834 12,893,267 
  Units issued79,470 373,206 2,162,091 3,393,412 1,884,799 
  Units redeemed(10,437,711)(196,070)(3,020,011)(97,542,284)(4,174,113)
  Ending units— 210,103 7,272,497 1,026,297,962 10,603,953 

**Date subaccount was no longer available for investment.
The accompanying notes are an integral part of these financial statements.
A68


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
AST Bond Portfolio 2025AST T. Rowe Price Growth Opportunities PortfolioAST T. Rowe Price Diversified Real Growth PortfolioAST Prudential Flexible Multi-Strategy PortfolioAST Franklin 85/15 Diversified Allocation Portfolio
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
OPERATIONS
  Net investment income (loss)$(42,440)$(32,921,835)$(755,750)$(561,772)$(5,706,796)
  Capital gains distributions received— — — — — 
  Net realized gain (loss) on shares redeemed(61,653)354,541,623 5,467,256 2,794,767 46,833,782 
  Net change in unrealized appreciation (depreciation) on investments(90,710)(1,006,198,496)(29,533,253)(21,282,437)(172,867,099)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(194,803)(684,578,708)(24,821,747)(19,049,442)(131,740,113)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments— 233,359 3,658,426 627,043 23,941 
  Annuity payments— (523,906)— — (38,451)
  Surrenders, withdrawals and death benefits(368,736)(104,363,720)(13,579,043)(8,962,577)(19,544,748)
  Net transfers between other subaccounts
    or fixed rate option1,703,512 (855,896,961)(6,006,040)(3,081,813)(136,709,786)
  Miscellaneous transactions265 58,359 (1,144)5,606 6,961 
  Other charges(1,348)(34,030,254)(642,787)(513,216)(6,086,504)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS1,333,693 (994,523,123)(16,570,588)(11,924,957)(162,348,587)
TOTAL INCREASE (DECREASE) IN NET ASSETS1,138,890 (1,679,101,831)(41,392,335)(30,974,399)(294,088,700)
NET ASSETS
  Beginning of period1,085,129 3,331,254,832 151,350,101 113,957,589 586,820,488 
  End of period$2,224,019 $1,652,153,001 $109,957,766 $82,983,190 $292,731,788 
  Beginning units90,986 178,471,279 8,555,772 7,088,553 36,912,856 
  Units issued278,972 89,553,088 307,230 103,271 18,177,952 
  Units redeemed(163,416)(158,662,246)(1,319,343)(949,007)(31,844,222)
  Ending units206,542 109,362,121 7,543,659 6,242,817 23,246,586 


The accompanying notes are an integral part of these financial statements.
A69


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
AST Bond Portfolio 2026AST Global Bond PortfolioAST QMA International Core Equity PortfolioBlackRock Global Allocation V.I. Fund (Class III)JPMorgan Insurance Trust Income Builder Portfolio (Class 2)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
OPERATIONS
  Net investment income (loss)$(92,053)$(1,679,150)$(54,819)$(346,762)$613,895 
  Capital gains distributions received— — — 896,047 597,679 
  Net realized gain (loss) on shares redeemed(165,732)(5,325,499)78,610 (1,162,914)(127,256)
  Net change in unrealized appreciation (depreciation) on investments(338,431)(17,503,690)(1,735,406)(10,705,475)(4,091,058)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(596,216)(24,508,339)(1,711,615)(11,319,104)(3,006,740)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments— 848,758 136,065 2,193,546 325,142 
  Annuity payments— (321,792)(920)— — 
  Surrenders, withdrawals and death benefits(1,315,232)(12,450,921)(708,856)(4,605,295)(2,241,148)
  Net transfers between other subaccounts
    or fixed rate option2,438,250 (15,880,969)(137,392)(736,246)(25,353)
  Miscellaneous transactions(3,192)(686)(1,520)1,588 (4,235)
  Other charges(3,203)(1,510,541)(47,954)(309,847)(116,258)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS1,116,623 (29,316,151)(760,577)(3,456,254)(2,061,852)
TOTAL INCREASE (DECREASE) IN NET ASSETS520,407 (53,824,490)(2,472,192)(14,775,358)(5,068,592)
NET ASSETS
  Beginning of period4,005,501 198,008,714 11,429,923 68,722,909 22,942,014 
  End of period$4,525,908 $144,184,224 $8,957,731 $53,947,551 $17,873,422 
  Beginning units377,506 18,812,282 861,550 4,483,136 1,677,993 
  Units issued633,778 3,016,201 37,490 310,178 110,239 
  Units redeemed(523,456)(6,116,290)(104,139)(552,871)(277,745)
  Ending units487,828 15,712,193 794,901 4,240,443 1,510,487 









The accompanying notes are an integral part of these financial statements.
A70


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
AST Bond Portfolio 2027NVIT Emerging Markets Fund (Class D)AST Bond Portfolio 2028AST Bond Portfolio 2029AST American Funds Growth Allocation Portfolio
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
OPERATIONS
  Net investment income (loss)$(156,679)$(54,466)$(514,815)$(32,845)$(10,952,084)
  Capital gains distributions received— — — — — 
  Net realized gain (loss) on shares redeemed(280,532)(24,923)(444,340)(67,567)164,332,080 
  Net change in unrealized appreciation (depreciation) on investments(786,774)(1,116,101)(3,458,436)(109,569)(444,688,989)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(1,223,985)(1,195,490)(4,417,591)(209,981)(291,308,993)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments— 138 — — 317,854 
  Annuity payments— (27,044)— — (111,771)
  Surrenders, withdrawals and death benefits(2,457,651)(249,566)(2,277,346)(394,181)(22,114,319)
  Net transfers between other subaccounts
    or fixed rate option2,579,484 88,366 11,446,541 2,664,569 (568,629,443)
  Miscellaneous transactions(78)45 (5)477 22,783 
  Other charges(4,081)(13,866)(9,381)(208)(12,455,497)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS117,674 (201,927)9,159,809 2,270,657 (602,970,393)
TOTAL INCREASE (DECREASE) IN NET ASSETS(1,106,311)(1,397,417)4,742,218 2,060,676 (894,279,386)
NET ASSETS
  Beginning of period7,992,554 4,581,088 20,083,462 22,568 1,349,107,486 
  End of period$6,886,243 $3,183,671 $24,825,680 $2,083,244 $454,828,100 
  Beginning units749,050 344,614 1,810,444 2,003 86,526,369 
  Units issued474,360 20,806 1,533,984 440,902 64,617,127 
  Units redeemed(468,432)(40,886)(688,130)(218,475)(114,633,400)
  Ending units754,978 324,534 2,656,298 224,430 36,510,096 


The accompanying notes are an integral part of these financial statements.
A71


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
AST Bond Portfolio 2030AST BlackRock 80/20 Target Allocation ETF PortfolioAST BlackRock 60/40 Target Allocation ETF PortfolioAST Western Asset Corporate Bond PortfolioAST T. Rowe Price Corporate Bond Portfolio
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/20222/11/2022**2/11/2022**
OPERATIONS
  Net investment income (loss)$(311,745)$(2,886,850)$(1,963,481)$(4,572)$(3,928)
  Capital gains distributions received— — — — — 
  Net realized gain (loss) on shares redeemed(462,616)39,409,936 18,303,840 (85,467)(62,023)
  Net change in unrealized appreciation (depreciation) on investments(2,705,026)(97,031,591)(55,780,489)(51,477)(53,797)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(3,479,387)(60,508,505)(39,440,130)(141,516)(119,748)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments— 64,603 14,975 — — 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(2,733,235)(3,928,841)(4,858,096)(10,467)(144,756)
  Net transfers between other subaccounts
    or fixed rate option3,399,172 (132,304,065)(81,599,646)(3,274,582)(2,697,782)
  Miscellaneous transactions(313)5,697 7,423 (3)(21)
  Other charges(10,109)(3,017,773)(2,248,035)(33)(6)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS655,515 (139,180,379)(88,683,379)(3,285,085)(2,842,565)
TOTAL INCREASE (DECREASE) IN NET ASSETS(2,823,872)(199,688,884)(128,123,509)(3,426,601)(2,962,313)
NET ASSETS
  Beginning of period17,743,120 319,146,188 222,559,618 3,426,601 2,962,313 
  End of period$14,919,248 $119,457,304 $94,436,109 $— $— 
  Beginning units1,495,678 19,591,941 15,006,354 326,656 281,446 
  Units issued597,468 14,339,420 8,859,451 25 22 
  Units redeemed(543,732)(25,112,620)(16,235,511)(326,681)(281,468)
  Ending units1,549,414 8,818,741 7,630,294 — — 

**Date subaccount was no longer available for investment.
The accompanying notes are an integral part of these financial statements.
A72


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
AST PIMCO Corporate Bond PortfolioAST Prudential Corporate Bond PortfolioAST BlackRock Corporate Bond PortfolioAST Bond Portfolio 2031Fidelity® VIP Contrafund® Portfolio (Initial Class)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
2/11/2022**2/11/2022**2/11/2022**12/31/202212/31/2022
OPERATIONS
  Net investment income (loss)$(6,244)$(8,754)$(5,289)$(959,109)$2,389 
  Capital gains distributions received— — — — 47,741 
  Net realized gain (loss) on shares redeemed(116,759)(111,339)(129,502)(1,728,376)(58,808)
  Net change in unrealized appreciation (depreciation) on investments(57,857)(154,753)(28,628)(8,395,155)(178,774)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(180,860)(274,846)(163,419)(11,082,640)(187,452)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments8,800 9,075 9,075 — 3,920 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(55,391)(175,651)(114,569)(6,639,436)(44,695)
  Net transfers between other subaccounts
    or fixed rate option(4,444,047)(6,044,172)(3,731,202)23,166,051 177,386 
  Miscellaneous transactions(15)(4)14,751 — 
  Other charges— (99)(10)(27,945)(184)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS(4,490,653)(6,210,838)(3,836,710)16,513,421 136,427 
TOTAL INCREASE (DECREASE) IN NET ASSETS(4,671,513)(6,485,684)(4,000,129)5,430,781 (51,025)
NET ASSETS
  Beginning of period4,671,513 6,485,684 4,000,129 38,422,746 735,572 
  End of period$— $— $— $43,853,527 $684,547 
  Beginning units444,136 614,244 373,343 3,709,214 47,624 
  Units issued3,012 1,380 887 3,829,792 45,285 
  Units redeemed(447,148)(615,624)(374,230)(2,224,351)(32,479)
  Ending units— — — 5,314,655 60,430 

**Date subaccount was no longer available for investment.
The accompanying notes are an integral part of these financial statements.
A73


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
Fidelity® VIP Growth Opportunities Portfolio (Initial Class)Fidelity® VIP Growth Portfolio (Initial Class)Fidelity® VIP Investment Grade Bond Portfolio (Initial Class)MFS® New Discovery Series (Initial Class)MFS® Total Return Series (Initial Class)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
OPERATIONS
  Net investment income (loss)$(2,283)$827 $5,899 $(1,075)$15,029 
  Capital gains distributions received100,696 18,961 21,183 84,970 97,474 
  Net realized gain (loss) on shares redeemed(47,432)(5,154)(20,336)(8,887)(4,635)
  Net change in unrealized appreciation (depreciation) on investments(341,734)(65,050)(57,676)(185,460)(231,674)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(290,753)(50,416)(50,930)(110,452)(123,806)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments65,223 475,279 20,709 11,485 101,000 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(37,947)(5,633)(8,401)(6,941)(28,402)
  Net transfers between other subaccounts
    or fixed rate option122,657 27,002 (110,979)2,683 (39,629)
  Miscellaneous transactions306 — (16)(174)
  Other charges(899)(808)(434)(909)(4,372)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS149,340 495,840 (99,104)6,302 28,423 
TOTAL INCREASE (DECREASE) IN NET ASSETS(141,413)445,424 (150,034)(104,150)(95,383)
NET ASSETS
  Beginning of period673,822 77,621 452,289 367,976 1,225,060 
  End of period$532,409 $523,045 $302,255 $263,826 $1,129,677 
  Beginning units39,502 4,769 42,964 26,050 100,171 
  Units issued20,349 41,120 3,974 1,979 10,804 
  Units redeemed(9,173)(3,368)(13,809)(1,336)(8,414)
  Ending units50,678 42,521 33,129 26,693 102,561 






The accompanying notes are an integral part of these financial statements.
A74


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
MFS® Total Return Bond Series (Initial Class)Vanguard Equity Index PortfolioVanguard Global Bond IndexVanguard Mid-Cap Index PortfolioVanguard Real Estate Index Portfolio
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
OPERATIONS
  Net investment income (loss)$35,761 $3,250 $2,615 $1,956 $9,622 
  Capital gains distributions received16,748 29,371 1,488 110,133 36,048 
  Net realized gain (loss) on shares redeemed(7,597)(7,812)(8,606)(108,331)(23,807)
  Net change in unrealized appreciation (depreciation) on investments(145,433)(162,094)(23,750)(301,620)(301,300)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(100,521)(137,285)(28,253)(297,862)(279,437)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments402,777 194,312 22,648 472,984 257,014 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(27,534)(48,469)(1,885)(15,400)(39,700)
  Net transfers between other subaccounts
    or fixed rate option915,194 254,114 (154,955)(174,786)(92,028)
  Miscellaneous transactions259 (127)— 3,074 664 
  Other charges(576)(1,443)(475)(1,670)(1,656)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS1,290,120 398,387 (134,667)284,202 124,294 
TOTAL INCREASE (DECREASE) IN NET ASSETS1,189,599 261,102 (162,920)(13,660)(155,143)
NET ASSETS
  Beginning of period375,979 515,482 324,387 1,225,689 975,438 
  End of period$1,565,578 $776,584 $161,467 $1,212,029 $820,295 
  Beginning units36,166 35,631 32,226 87,426 79,465 
  Units issued144,307 42,375 5,902 100,183 37,507 
  Units redeemed(4,535)(11,852)(19,528)(80,223)(25,599)
  Ending units175,938 66,154 18,600 107,386 91,373 


The accompanying notes are an integral part of these financial statements.
A75


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
Vanguard Total Bond Market Index PortfolioVanguard Total International Stock Market Index PortfolioVanguard Total Stock Market Index PortfolioVanguard Balanced PortfolioVanguard Conservative Allocation Portfolio
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
OPERATIONS
  Net investment income (loss)$12,861 $25,166 $5,024 $22,470 $6,854 
  Capital gains distributions received7,746 36,994 90,558 195,196 17,704 
  Net realized gain (loss) on shares redeemed(14,816)(82,684)(11,797)(58,174)(2,725)
  Net change in unrealized appreciation (depreciation) on investments(169,364)(209,032)(375,694)(512,182)(91,786)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(163,573)(229,556)(291,909)(352,690)(69,953)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments338,811 671,290 554,144 14,003 5,880 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(40,567)(56,545)(32,992)(31,882)(12,993)
  Net transfers between other subaccounts
    or fixed rate option18,714 (19,381)333,220 162,783 21,689 
  Miscellaneous transactions(7)(18)3,496 — 
  Other charges(2,167)(2,496)(3,335)(5,307)(211)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS314,784 592,850 854,533 139,598 14,365 
TOTAL INCREASE (DECREASE) IN NET ASSETS151,211 363,294 562,624 (213,092)(55,588)
NET ASSETS
  Beginning of period1,117,999 1,297,392 1,442,600 2,202,773 454,936 
  End of period$1,269,210 $1,660,686 $2,005,224 $1,989,681 $399,348 
  Beginning units110,043 107,031 100,088 173,753 39,817 
  Units issued50,608 101,013 102,946 39,392 2,895 
  Units redeemed(15,601)(43,933)(28,698)(28,587)(1,317)
  Ending units145,050 164,111 174,336 184,558 41,395 
The accompanying notes are an integral part of these financial statements.
A76


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
Vanguard Growth PortfolioVanguard High Yield Bond PortfolioVanguard Moderate Allocation PortfolioVanguard Short-Term Investment Grade PortfolioAmerican Funds IS Asset Allocation Fund (Class 1)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
OPERATIONS
  Net investment income (loss)$(3,201)$6,084 $5,732 $13,153 $76,201 
  Capital gains distributions received126,956 — 17,736 12,918 518,898 
  Net realized gain (loss) on shares redeemed(10,455)841 (19,411)(50,874)(16,455)
  Net change in unrealized appreciation (depreciation) on investments(279,006)(16,417)(94,660)(83,123)(1,348,707)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(165,706)(9,492)(90,603)(107,926)(770,063)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments55,360 73,085 1,019,074 356,263 462,753 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(13,958)(3,129)(3,313)(59,413)(52,821)
  Net transfers between other subaccounts
    or fixed rate option57,188 (11,889)26,098 879,382 97,364 
  Miscellaneous transactions— 18 112 
  Other charges(545)(304)(1,397)(2,928)(10,933)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS98,046 57,765 1,040,462 1,173,322 496,475 
TOTAL INCREASE (DECREASE) IN NET ASSETS(67,660)48,273 949,859 1,065,396 (273,588)
NET ASSETS
  Beginning of period472,047 167,364 432,865 834,507 5,504,419 
  End of period$404,387 $215,637 $1,382,724 $1,899,903 $5,230,831 
  Beginning units30,854 15,684 35,762 81,592 439,144 
  Units issued11,103 25,546 126,565 225,557 59,239 
  Units redeemed(1,980)(18,771)(25,957)(108,808)(13,997)
  Ending units39,977 22,459 136,370 198,341 484,386 













The accompanying notes are an integral part of these financial statements.
A77


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
American Funds IS Washington Mutual Investors Fund℠ (Class 1)American Funds IS The Bond Fund of America® (Class 1)American Funds IS Growth Fund (Class 1)American Funds IS Growth-Income Fund (Class 1)American Funds IS U.S. Government Securities Fund® (Class 1)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
OPERATIONS
  Net investment income (loss)$15,993 $18,970 $(3,576)$16,045 $19,704 
  Capital gains distributions received222,484 7,798 240,549 156,603 — 
  Net realized gain (loss) on shares redeemed(15,444)(4,943)(149,832)(8,467)(3,463)
  Net change in unrealized appreciation (depreciation) on investments(300,556)(105,007)(766,080)(469,456)(68,214)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(77,523)(83,182)(678,939)(305,275)(51,973)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments452,490 144,208 239,307 561,604 258,016 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(75,935)(14,613)(20,876)(15,739)(5,803)
  Net transfers between other subaccounts
    or fixed rate option(97,276)196,834 (270,268)(166,904)14,937 
  Miscellaneous transactions— — (114)(14,187)(2)
  Other charges(381)(830)(2,565)(2,500)(829)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS278,898 325,599 (54,516)362,274 266,319 
TOTAL INCREASE (DECREASE) IN NET ASSETS201,375 242,417 (733,455)56,999 214,346 
NET ASSETS
  Beginning of period884,277 515,977 2,203,313 1,880,270 357,546 
  End of period$1,085,652 $758,394 $1,469,858 $1,937,269 $571,892 
  Beginning units64,835 48,816 130,896 137,978 33,599 
  Units issued37,409 37,398 45,016 56,766 29,494 
  Units redeemed(14,881)(3,804)(50,563)(23,536)(2,536)
  Ending units87,363 82,410 125,349 171,208 60,557 










The accompanying notes are an integral part of these financial statements.
A78


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
BlackRock Basic Value V.I. Fund (Class I)BlackRock Capital Appreciation V.I. Fund (Class I)BlackRock Equity Dividend V.I. Fund (Class I)BlackRock Global Allocation V.I. Fund (Class I)DFA VA Global Bond Portfolio
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
OPERATIONS
  Net investment income (loss)$6,794 $(2,082)$35,589 $(5,373)$4,247 
  Capital gains distributions received55,673 33,123 302,698 20,732 — 
  Net realized gain (loss) on shares redeemed(10,718)(7,237)(56,231)(51,589)(5,805)
  Net change in unrealized appreciation (depreciation) on investments(91,425)(263,686)(408,756)(174,540)(34,774)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(39,676)(239,882)(126,700)(210,770)(36,332)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments150,867 438,438 105,880 47,307 4,686 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(78,313)(12,175)(66,845)(17,038)(22,167)
  Net transfers between other subaccounts
    or fixed rate option(9,292)46,546 (240,198)452,821 17,192 
  Miscellaneous transactions— 147 38 (865)— 
  Other charges(399)(558)(878)(2,636)(418)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS62,863 472,398 (202,003)479,589 (707)
TOTAL INCREASE (DECREASE) IN NET ASSETS23,187 232,516 (328,703)268,819 (37,039)
NET ASSETS
  Beginning of period535,169 391,068 2,837,685 1,257,886 500,230 
  End of period$558,356 $623,584 $2,508,982 $1,526,705 $463,191 
  Beginning units42,297 25,027 227,482 100,137 50,707 
  Units issued13,674 40,957 13,425 72,697 8,192 
  Units redeemed(9,383)(1,888)(31,016)(27,886)(8,415)
  Ending units46,588 64,096 209,891 144,948 50,484 











The accompanying notes are an integral part of these financial statements.
A79


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
DFA VA Short-Term Fixed PortfolioDFA VA U.S. Large Value PortfolioDFA VA U.S. Targeted Value PortfolioFidelity® VIP Balanced Portfolio (Initial Class)Fidelity® VIP Consumer Discretionary Portfolio (Initial Class)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
OPERATIONS
  Net investment income (loss)$5,184 $18,016 $7,499 $33,218 $(1,118)
  Capital gains distributions received— 13,637 75,713 223,282 38,038 
  Net realized gain (loss) on shares redeemed(2,941)(51,015)(36,909)(199,746)(14,846)
  Net change in unrealized appreciation (depreciation) on investments(18,231)(59,689)(89,673)(855,756)(189,908)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(15,988)(79,051)(43,370)(799,002)(167,834)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments291,013 494,200 600,154 237,299 380,641 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(40,249)(40,918)(19,731)(1,012,518)(4,437)
  Net transfers between other subaccounts
    or fixed rate option(136,456)486,991 123,723 (115,850)(13,084)
  Miscellaneous transactions339 50 640 (155)
  Other charges(1,696)(1,155)(1,644)(2,738)(115)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS112,951 939,168 703,142 (893,962)363,008 
TOTAL INCREASE (DECREASE) IN NET ASSETS96,963 860,117 659,772 (1,692,964)195,174 
NET ASSETS
  Beginning of period787,903 620,379 302,289 4,307,895 111,514 
  End of period$884,866 $1,480,496 $962,061 $2,614,931 $306,688 
  Beginning units79,807 49,382 20,248 311,783 7,228 
  Units issued32,306 118,145 72,005 25,342 26,225 
  Units redeemed(20,717)(42,796)(24,590)(105,519)(3,043)
  Ending units91,396 124,731 67,663 231,606 30,410 












The accompanying notes are an integral part of these financial statements.
A80


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
Fidelity® VIP Disciplined Small Cap Portfolio (Initial Class)Fidelity® VIP Emerging Markets Portfolio (Initial Class)Fidelity® VIP Financial Services Portfolio (Initial Class)Fidelity® VIP Floating Rate High Income Portfolio (Initial Class)Fidelity® VIP Health Care Portfolio (Initial Class)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
OPERATIONS
  Net investment income (loss)$3,238 $16,215 $7,332 $50,876 $(1,930)
  Capital gains distributions received85,675 — 7,372 — 36,332 
  Net realized gain (loss) on shares redeemed(12,638)(37,144)(3,091)(6,181)(4,796)
  Net change in unrealized appreciation (depreciation) on investments(186,002)(198,991)(71,264)(50,976)(83,356)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(109,727)(219,920)(59,651)(6,281)(53,750)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments278,926 137,234 380,641 331,800 413,207 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(55,770)(22,298)(4,639)(26,163)(8,295)
  Net transfers between other subaccounts
    or fixed rate option82,823 234,054 7,413 630,842 (10,878)
  Miscellaneous transactions33 723 — 106 (5)
  Other charges(60)(1,835)(244)(1,285)(571)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS305,952 347,878 383,171 935,300 393,458 
TOTAL INCREASE (DECREASE) IN NET ASSETS196,225 127,958 323,520 929,019 339,708 
NET ASSETS
  Beginning of period419,546 987,633 100,666 414,798 248,436 
  End of period$615,771 $1,115,591 $424,186 $1,343,817 $588,144 
  Beginning units29,067 76,444 7,602 38,800 19,116 
  Units issued29,148 43,055 29,140 151,131 35,841 
  Units redeemed(5,789)(10,976)(1,774)(63,281)(3,234)
  Ending units52,426 108,523 34,968 126,650 51,723 












The accompanying notes are an integral part of these financial statements.
A81


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
Fidelity® VIP Industrials Portfolio (Initial Class)Fidelity® VIP International Capital Appreciation Portfolio (Initial Class)Fidelity® VIP Mid Cap Portfolio (Initial Class)Fidelity® VIP Strategic Income Portfolio (Initial Class)Fidelity® VIP Technology Portfolio (Initial Class)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
OPERATIONS
  Net investment income (loss)$(340)$(439)$1,284 $29,505 $(2,366)
  Capital gains distributions received51,339 44,504 38,532 161 66,022 
  Net realized gain (loss) on shares redeemed(1,636)(21,344)(10,992)(2,188)(7,002)
  Net change in unrealized appreciation (depreciation) on investments(88,996)(212,826)(134,836)(58,175)(361,513)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(39,633)(190,105)(106,012)(30,697)(304,859)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments380,641 301,651 195,472 363,757 466,354 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(3,631)(9,607)(57,782)(6,402)(12,923)
  Net transfers between other subaccounts
    or fixed rate option6,368 100,666 318,203 442,180 46,899 
  Miscellaneous transactions— 552 173 — 
  Other charges(111)(739)(266)(295)(924)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS383,267 392,523 455,800 799,240 499,407 
TOTAL INCREASE (DECREASE) IN NET ASSETS343,634 202,418 349,788 768,543 194,548 
NET ASSETS
  Beginning of period43,377 557,724 582,120 90,009 421,124 
  End of period$387,011 $760,142 $931,908 $858,552 $615,672 
  Beginning units3,450 42,091 40,222 8,280 22,002 
  Units issued31,305 46,409 41,759 84,057 30,037 
  Units redeemed(455)(10,194)(6,016)(3,109)(1,762)
  Ending units34,300 78,306 75,965 89,228 50,277 











The accompanying notes are an integral part of these financial statements.
A82


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
Fidelity® VIP Utilities Portfolio (Initial Class)ClearBridge Variable Mid Cap Portfolio (Class I)ClearBridge Variable Small Cap Growth Portfolio (Class I)Western Asset Core Plus VIT Portfolio (Class I)Western Asset Variable Global High Yield Bond Portfolio (Class I)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
OPERATIONS
  Net investment income (loss)$1,311 $(103)$(2,468)$36,776 $3,454 
  Capital gains distributions received49 18,600 16,645 — — 
  Net realized gain (loss) on shares redeemed510 (9,836)(41,211)(13,337)(1,088)
  Net change in unrealized appreciation (depreciation) on investments1,441 (88,176)(250,608)(443,437)(11,735)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS3,311 (79,515)(277,642)(419,998)(9,369)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments136,501 104,278 141,572 82,897 — 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(43,684)(7,592)(44,382)(31,604)(541)
  Net transfers between other subaccounts
    or fixed rate option54,954 13,731 (5,237)47,253 (9,434)
  Miscellaneous transactions21 (22)473 279 — 
  Other charges(73)(262)(306)(572)(102)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS147,719 110,133 92,120 98,253 (10,077)
TOTAL INCREASE (DECREASE) IN NET ASSETS151,030 30,618 (185,522)(321,745)(19,446)
NET ASSETS
  Beginning of period17,576 238,599 913,076 2,371,869 72,809 
  End of period$168,606 $269,217 $727,554 $2,050,124 $53,363 
  Beginning units1,622 16,687 59,681 228,607 6,847 
  Units issued17,627 13,241 16,506 18,310 102 
  Units redeemed(4,406)(4,618)(9,112)(7,301)(1,105)
  Ending units14,843 25,310 67,075 239,616 5,844 












The accompanying notes are an integral part of these financial statements.
A83


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
MFS® Mid Cap Growth Series (Initial Class)MFS® International Intrinsic Value Portfolio (Initial Class)MFS® Massachusetts Investors Growth Stock Portfolio (Initial Class)MFS® International Growth Portfolio (Service Class)MFS® Massachusetts Investors Growth Stock Portfolio (Service Class)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
OPERATIONS
  Net investment income (loss)$(2,974)$1,155 $(165)$(8,055)$(6,326)
  Capital gains distributions received144,044 12,779 9,437 219,542 194,423 
  Net realized gain (loss) on shares redeemed(65,475)(13,457)(3,298)(32,312)(81,662)
  Net change in unrealized appreciation (depreciation) on investments(254,723)(72,085)(17,967)(515,531)(335,122)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(179,128)(71,608)(11,993)(336,356)(228,687)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments138,554 104,291 40,000 2,424,396 512,888 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(25,981)(2,976)(1,148)(122,470)(92,497)
  Net transfers between other subaccounts
    or fixed rate option79,912 72,287 2,899 222,298 232,432 
  Miscellaneous transactions— 462 — 80 97 
  Other charges(389)(433)(113)(12,876)(6,508)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS192,096 173,631 41,638 2,511,428 646,412 
TOTAL INCREASE (DECREASE) IN NET ASSETS12,968 102,023 29,645 2,175,072 417,725 
NET ASSETS
  Beginning of period599,987 223,059 35,310 2,399,482 846,364 
  End of period$612,955 $325,082 $64,955 $4,574,554 $1,264,089 
  Beginning units41,421 17,009 2,392 164,292 50,017 
  Units issued53,148 24,248 6,570 233,252 72,641 
  Units redeemed(35,028)(8,702)(3,499)(22,808)(29,471)
  Ending units59,541 32,555 5,463 374,736 93,187 











The accompanying notes are an integral part of these financial statements.
A84


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
MFS® Technology Portfolio (Service Class)MFS® Investors Trust Series (Service Class)MFS® Mid Cap Growth Series (Service Class)MFS® New Discovery Series (Service Class)MFS® Research Series (Service Class)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
OPERATIONS
  Net investment income (loss)$(62,363)$(840)$(36,016)$(14,667)$(1,877)
  Capital gains distributions received1,125,885 62,436 1,093,904 1,038,050 63,018 
  Net realized gain (loss) on shares redeemed(220,602)(20,863)(335,609)(177,717)(3,951)
  Net change in unrealized appreciation (depreciation) on investments(6,132,867)(131,165)(3,080,666)(1,907,746)(162,978)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(5,289,947)(90,432)(2,358,387)(1,062,080)(105,788)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments1,852,577 79,153 1,012,058 374,144 91,155 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(470,370)(32,179)(334,876)(164,371)(70,625)
  Net transfers between other subaccounts
    or fixed rate option738,993 (71,935)532,698 66,690 70,818 
  Miscellaneous transactions2,686 838 1,391 (32)28 
  Other charges(64,186)(2,653)(38,092)(14,882)(2,901)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS2,059,700 (26,776)1,173,179 261,549 88,475 
TOTAL INCREASE (DECREASE) IN NET ASSETS(3,230,247)(117,208)(1,185,208)(800,531)(17,313)
NET ASSETS
  Beginning of period13,672,705 519,695 7,817,408 3,508,343 493,848 
  End of period$10,442,458 $402,487 $6,632,200 $2,707,812 $476,535 
  Beginning units829,409 31,734 466,857 207,518 30,747 
  Units issued279,651 10,525 169,352 55,852 14,289 
  Units redeemed(116,341)(12,583)(76,884)(33,392)(8,920)
  Ending units992,719 29,676 559,325 229,978 36,116 











The accompanying notes are an integral part of these financial statements.
A85


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
MFS® Total Return Bond Series (Service Class)MFS® Total Return Series (Service Class)MFS® Utilities Series (Service Class)Fidelity® VIP Contrafund® Portfolio (Service Class 2)American Funds IS Asset Allocation Fund (Class 4)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
OPERATIONS
  Net investment income (loss)$266,501 $111,709 $120,137 $(12,594)$249,604 
  Capital gains distributions received169,936 1,315,882 273,444 340,316 2,458,311 
  Net realized gain (loss) on shares redeemed(398,418)(172,073)13,841 (234,350)(544,503)
  Net change in unrealized appreciation (depreciation) on investments(2,038,234)(2,188,250)(408,425)(1,923,813)(5,893,144)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(2,000,215)(932,732)(1,003)(1,830,441)(3,729,732)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments8,392,215 11,296,972 1,422,656 1,721,384 2,814,270 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(978,630)(668,289)(446,945)(229,188)(2,662,673)
  Net transfers between other subaccounts
    or fixed rate option1,694,474 1,533,101 3,256,254 1,245,079 1,096,816 
  Miscellaneous transactions(1,350)1,381 2,968 15,162 (1,669)
  Other charges(57,164)(36,835)(34,367)(32,250)(145,257)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS9,049,545 12,126,330 4,200,566 2,720,187 1,101,487 
TOTAL INCREASE (DECREASE) IN NET ASSETS7,049,330 11,193,598 4,199,563 889,746 (2,628,245)
NET ASSETS
  Beginning of period11,111,830 6,940,678 4,054,076 5,777,041 25,282,915 
  End of period$18,161,160 $18,134,276 $8,253,639 $6,666,787 $22,654,670 
  Beginning units1,052,694 511,211 294,706 414,608 2,036,131 
  Units issued1,303,167 1,149,273 421,391 355,888 571,105 
  Units redeemed(323,633)(157,679)(115,670)(116,314)(481,187)
  Ending units2,032,228 1,502,805 600,427 654,182 2,126,049 












The accompanying notes are an integral part of these financial statements.
A86


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
American Funds IS Washington Mutual Investors Fund℠ (Class 4)American Funds IS The Bond Fund of America® (Class 4)American Funds IS Capital World Growth and Income Fund® (Class 4)American Funds IS Global Small Capitalization Fund (Class 4)American Funds IS Growth Fund (Class 4)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
OPERATIONS
  Net investment income (loss)$98,481 $168,472 $69,473 $(9,212)$(59,510)
  Capital gains distributions received1,600,680 86,423 895,539 592,631 2,018,007 
  Net realized gain (loss) on shares redeemed(74,768)(235,975)(142,428)(115,615)(334,828)
  Net change in unrealized appreciation (depreciation) on investments(2,182,009)(1,008,353)(1,599,708)(1,123,389)(6,539,711)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(557,616)(989,433)(777,124)(655,585)(4,916,042)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments852,434 1,802,228 689,210 184,112 4,060,100 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(400,892)(979,116)(174,778)(145,747)(725,859)
  Net transfers between other subaccounts
    or fixed rate option2,601,527 1,998,955 794,915 232,721 2,363,313 
  Miscellaneous transactions3,418 1,504 (687)49 2,214 
  Other charges(36,969)(38,508)(22,768)(9,654)(80,375)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS3,019,518 2,785,063 1,285,892 261,481 5,619,393 
TOTAL INCREASE (DECREASE) IN NET ASSETS2,461,902 1,795,630 508,768 (394,104)703,351 
NET ASSETS
  Beginning of period5,754,294 6,066,765 3,641,090 2,052,229 13,257,377 
  End of period$8,216,196 $7,862,395 $4,149,858 $1,658,125 $13,960,728 
  Beginning units407,780 605,851 281,856 155,681 894,838 
  Units issued280,044 500,439 159,375 44,686 584,580 
  Units redeemed(46,524)(201,620)(49,401)(20,504)(123,877)
  Ending units641,300 904,670 391,830 179,863 1,355,541 










The accompanying notes are an integral part of these financial statements.
A87


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
American Funds IS Growth-Income Fund (Class 4)American Funds IS International Fund (Class 4)American Funds IS New World Fund® (Class 4)BlackRock Advantage Large Cap Core V.I. Fund (Class III)BlackRock Advantage Large Cap Value V.I. Fund (Class III)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
OPERATIONS
  Net investment income (loss)$31,663 $22,327 $17,496 $7,856 $32,945 
  Capital gains distributions received474,300 278,001 274,837 56,144 65,987 
  Net realized gain (loss) on shares redeemed(82,145)(86,929)(110,414)(185,716)(29,027)
  Net change in unrealized appreciation (depreciation) on investments(1,324,979)(637,174)(906,704)(799,589)(236,990)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(901,161)(423,775)(724,785)(921,305)(167,085)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments1,217,917 566,460 488,787 433,029 1,058,933 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(230,366)(72,148)(114,902)(210,492)(121,855)
  Net transfers between other subaccounts
    or fixed rate option278,407 242,561 516,450 659,564 1,045,536 
  Miscellaneous transactions1,241 807 127 (96)(669)
  Other charges(29,423)(10,819)(15,729)(21,823)(13,227)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS1,237,776 726,861 874,733 860,182 1,968,718 
TOTAL INCREASE (DECREASE) IN NET ASSETS336,615 303,086 149,948 (61,123)1,801,633 
NET ASSETS
  Beginning of period5,227,609 1,785,946 2,725,287 4,092,865 1,269,520 
  End of period$5,564,224 $2,089,032 $2,875,235 $4,031,742 $3,071,153 
  Beginning units383,812 152,348 219,595 286,306 89,785 
  Units issued212,210 111,740 118,896 104,646 175,492 
  Units redeemed(102,895)(37,239)(38,800)(35,750)(26,984)
  Ending units493,127 226,849 299,691 355,202 238,293 












The accompanying notes are an integral part of these financial statements.
A88


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
BlackRock Basic Value V.I. Fund (Class III)BlackRock Capital Appreciation V.I. Fund (Class III)BlackRock Equity Dividend V.I. Fund (Class III)BlackRock Large Cap Focus Growth V.I. Fund (Class III)Fidelity® VIP Balanced Portfolio (Service Class 2)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
OPERATIONS
  Net investment income (loss)$15,567 $(9,571)$34,098 $(10,543)$105,943 
  Capital gains distributions received225,515 92,857 461,874 123,213 1,155,323 
  Net realized gain (loss) on shares redeemed(42,100)(167,667)(107,520)(97,151)(582,525)
  Net change in unrealized appreciation (depreciation) on investments(339,762)(836,910)(585,143)(1,000,470)(4,946,589)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(140,780)(921,291)(196,691)(984,951)(4,267,848)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments407,863 343,782 764,045 533,732 4,869,276 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(107,917)(213,854)(467,452)(94,847)(1,478,027)
  Net transfers between other subaccounts
    or fixed rate option909,404 126,090 1,096,249 335,040 1,981,685 
  Miscellaneous transactions(2,906)(134)(1,254)(575)(6,233)
  Other charges(9,879)(10,473)(19,589)(11,510)(112,289)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS1,196,565 245,411 1,371,999 761,840 5,254,412 
TOTAL INCREASE (DECREASE) IN NET ASSETS1,055,785 (675,880)1,175,308 (223,111)986,564 
NET ASSETS
  Beginning of period1,116,222 2,228,460 2,807,284 2,121,414 18,795,547 
  End of period$2,172,007 $1,552,580 $3,982,592 $1,898,303 $19,782,111 
  Beginning units80,451 159,754 208,337 158,783 1,434,524 
  Units issued120,893 56,178 183,132 95,288 811,508 
  Units redeemed(35,455)(36,027)(81,600)(22,745)(390,624)
  Ending units165,889 179,905 309,869 231,326 1,855,408 












The accompanying notes are an integral part of these financial statements.
A89


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
Fidelity® VIP Growth Opportunities Portfolio (Service Class 2)Fidelity® VIP Health Care Portfolio (Service Class 2)AST Bond Portfolio 2032PSF Global Portfolio (Class III)PSF Mid-Cap Growth Portfolio (Class III)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
OPERATIONS
  Net investment income (loss)$(52,850)$(45,248)$(1,165,145)$(2,544)$(3,857)
  Capital gains distributions received1,715,717 438,197 — — — 
  Net realized gain (loss) on shares redeemed(545,332)(155,361)(1,550,905)(3,337)(21,321)
  Net change in unrealized appreciation (depreciation) on investments(6,156,220)(1,194,728)(11,138,624)(88,351)(167,584)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(5,038,685)(957,140)(13,854,674)(94,232)(192,762)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments2,649,878 697,756 — 407,143 379,436 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(254,012)(272,448)(6,714,925)(540)(29,246)
  Net transfers between other subaccounts
    or fixed rate option743,652 1,782,521 32,081,081 97,792 183,214 
  Miscellaneous transactions(5,111)204 2,225 52 (71)
  Other charges(56,090)(44,417)(26,683)(2,553)(4,148)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS3,078,317 2,163,616 25,341,698 501,894 529,185 
TOTAL INCREASE (DECREASE) IN NET ASSETS(1,960,368)1,206,476 11,487,024 407,662 336,423 
NET ASSETS
  Beginning of period11,832,036 7,523,807 40,391,340 160,458 498,377 
  End of period$9,871,668 $8,730,283 $51,878,364 $568,120 $834,800 
  Beginning units860,817 623,090 4,353,333 15,088 48,667 
  Units issued449,181 314,244 5,751,458 54,675 79,231 
  Units redeemed(139,800)(105,327)(2,955,488)(3,475)(15,400)
  Ending units1,170,198 832,007 7,149,303 66,288 112,498 











The accompanying notes are an integral part of these financial statements.
A90


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
PSF Natural Resources Portfolio (Class III)PSF PGIM 50/50 Balanced Portfolio (Class III)PSF PGIM Flexible Managed Portfolio (Class III)PSF PGIM Government Income Portfolio (Class III)PSF PGIM High Yield Bond Portfolio (Class III)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
OPERATIONS
  Net investment income (loss)$(16,858)$(21,070)$(13,024)$(6,766)$(31,957)
  Capital gains distributions received— — — — — 
  Net realized gain (loss) on shares redeemed12,564 (56,982)(20,781)(75,962)(91,114)
  Net change in unrealized appreciation (depreciation) on investments315,153 (426,738)(340,445)(82,587)(594,012)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS310,859 (504,790)(374,250)(165,315)(717,083)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments388,323 2,051,926 1,166,075 537,180 2,653,923 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(415,388)(478,251)(143,630)(282,838)(515,888)
  Net transfers between other subaccounts
    or fixed rate option4,000,749 2,155,100 514,133 1,138,182 1,118,418 
  Miscellaneous transactions3,149 (1,116)32 (136)(495)
  Other charges(15,929)(21,573)(13,418)(6,947)(33,081)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS3,960,904 3,706,086 1,523,192 1,385,441 3,222,877 
TOTAL INCREASE (DECREASE) IN NET ASSETS4,271,763 3,201,296 1,148,942 1,220,126 2,505,794 
NET ASSETS
  Beginning of period647,475 1,829,289 1,590,509 221,978 4,280,238 
  End of period$4,919,238 $5,030,585 $2,739,451 $1,442,104 $6,786,032 
  Beginning units58,884 170,409 147,565 22,520 413,498 
  Units issued427,316 472,534 175,692 278,039 458,342 
  Units redeemed(117,017)(89,225)(22,849)(130,128)(127,831)
  Ending units369,183 553,718 300,408 170,431 744,009 











The accompanying notes are an integral part of these financial statements.
A91


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
PSF PGIM Jennison Blend Portfolio (Class III)PSF PGIM Jennison Focused Blend Portfolio (Class III)PSF PGIM Jennison Growth Portfolio (Class III)PSF PGIM Jennison Value Portfolio (Class III)PSF PGIM Total Return Bond Portfolio (Class III)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
OPERATIONS
  Net investment income (loss)$(3,618)$(1,767)$(21,845)$(6,560)$(29,474)
  Capital gains distributions received— — — — — 
  Net realized gain (loss) on shares redeemed(5,634)(4,769)(81,483)(8,486)(78,625)
  Net change in unrealized appreciation (depreciation) on investments(168,129)(97,767)(1,735,438)(51,830)(737,903)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(177,381)(104,303)(1,838,766)(66,876)(846,002)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments386,183 68,503 1,963,825 672,694 2,673,938 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(33,632)(504)(240,004)(59,933)(603,283)
  Net transfers between other subaccounts
    or fixed rate option6,136 10,187 790,328 511,609 1,093,190 
  Miscellaneous transactions14 (11)74 (3,122)(608)
  Other charges(4,128)(1,971)(23,974)(6,534)(30,319)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS354,573 76,204 2,490,249 1,114,714 3,132,918 
TOTAL INCREASE (DECREASE) IN NET ASSETS177,192 (28,099)651,483 1,047,838 2,286,916 
NET ASSETS
  Beginning of period453,911 396,848 3,714,675 774,377 3,916,744 
  End of period$631,103 $368,749 $4,366,158 $1,822,215 $6,203,660 
  Beginning units40,843 37,135 335,869 69,908 385,902 
  Units issued39,585 14,964 355,756 129,785 449,772 
  Units redeemed(3,961)(5,265)(54,005)(19,719)(111,956)
  Ending units76,467 46,834 637,620 179,974 723,718 











The accompanying notes are an integral part of these financial statements.
A92


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
PSF Small-Cap Stock Index Portfolio (Class III)PSF Stock Index Portfolio (Class III)PSF PGIM Government Income Portfolio (Class I)Fidelity® VIP High Income Portfolio (Initial Class)MFS® Investors Trust Series (Initial Class)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
OPERATIONS
  Net investment income (loss)$(33,274)$(84,119)$(1,269)$3,906 $1,431 
  Capital gains distributions received— — — — 75,440 
  Net realized gain (loss) on shares redeemed(42,447)(92,751)(1,791)(12,028)(842)
  Net change in unrealized appreciation (depreciation) on investments(987,836)(2,875,361)(33,741)(12,025)(180,744)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(1,063,557)(3,052,231)(36,801)(20,147)(104,715)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments2,572,534 8,921,144 83,396 — 47,306 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(393,746)(1,125,793)(10,765)(2,011)(39,244)
  Net transfers between other subaccounts
    or fixed rate option1,185,112 2,662,793 106,928 3,459 (48,863)
  Miscellaneous transactions(897)(2,059)206 (66)(130)
  Other charges(35,298)(89,007)(148)(230)(12)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS3,327,705 10,367,078 179,617 1,152 (40,943)
TOTAL INCREASE (DECREASE) IN NET ASSETS2,264,148 7,314,847 142,816 (18,995)(145,658)
NET ASSETS
  Beginning of period4,902,733 11,845,629 255,068 100,369 699,760 
  End of period$7,166,881 $19,160,476 $397,884 $81,374 $554,102 
  Beginning units471,531 1,036,768 25,400 9,483 50,231 
  Units issued417,020 1,159,151 22,388 43,501 5,085 
  Units redeemed(57,880)(126,302)(1,789)(44,273)(7,483)
  Ending units830,671 2,069,617 45,999 8,711 47,833 












The accompanying notes are an integral part of these financial statements.
A93


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
MFS® Utilities Series (Initial Class)MFS® Value Series (Initial Class)Vanguard Capital Growth PortfolioVanguard Diversified Value PortfolioVanguard Equity Income Portfolio
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
OPERATIONS
  Net investment income (loss)$8,225 $6,480 $476 $3,019 $5,461 
  Capital gains distributions received14,229 37,612 26,743 90,265 42,149 
  Net realized gain (loss) on shares redeemed(766)(2,950)(1,092)(7,621)(2,530)
  Net change in unrealized appreciation (depreciation) on investments(17,829)(100,993)(78,274)(241,134)(38,915)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS3,859 (59,851)(52,147)(155,471)6,165 
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments41,274 95,955 12,300 8,953 86,481 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(9,968)(9,568)(4,390)(9,306)(8,255)
  Net transfers between other subaccounts
    or fixed rate option256,989 (168,979)(38,227)705,379 353,952 
  Miscellaneous transactions— — — — (27)
  Other charges(162)(565)(527)(1,035)(865)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS288,133 (83,157)(30,844)703,991 431,286 
TOTAL INCREASE (DECREASE) IN NET ASSETS291,992 (143,008)(82,991)548,520 437,451 
NET ASSETS
  Beginning of period76,132 834,462 359,932 764,674 430,712 
  End of period$368,124 $691,454 $276,941 $1,313,194 $868,163 
  Beginning units6,814 65,567 26,165 53,856 34,050 
  Units issued27,983 9,146 10,953 59,237 43,499 
  Units redeemed(2,053)(16,749)(13,107)(7,800)(8,024)
  Ending units32,744 57,964 24,011 105,293 69,525 




The accompanying notes are an integral part of these financial statements.
A94


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022

SUBACCOUNTS
Vanguard International PortfolioAmerican Funds IS Ultra-Short Bond Fund (Class 1)BlackRock Advantage Large Cap Core V.I. Fund (Class I)BlackRock Large Cap Focus Growth V.I. Fund (Class I)DFA VA Global Moderate Allocation Portfolio
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
OPERATIONS
  Net investment income (loss)$5,155 $4,056 $3,254 $(2,196)$13,789 
  Capital gains distributions received172,458 — 3,948 35,217 26,061 
  Net realized gain (loss) on shares redeemed(75,507)(9)(48,404)(15,441)309 
  Net change in unrealized appreciation (depreciation) on investments(444,837)2,899 (21,744)(255,678)(230,295)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(342,731)6,946 (62,946)(238,098)(190,136)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments102,436 14,208 251,421 521,881 500,000 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(16,230)(7,733)(1,752)(1,294)(2,000)
  Net transfers between other subaccounts
    or fixed rate option216,279 931,308 (46,848)22,140 (125,041)
  Miscellaneous transactions122 25 — 2,621 — 
  Other charges(1,216)(1,287)(251)(254)(1,184)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS301,391 936,521 202,570 545,094 371,775 
TOTAL INCREASE (DECREASE) IN NET ASSETS(41,340)943,467 139,624 306,996 181,639 
NET ASSETS
  Beginning of period907,780 321,542 271,976 341,852 1,587,871 
  End of period$866,440 $1,265,009 $411,600 $648,848 $1,769,510 
  Beginning units61,141 32,717 18,582 22,281 127,183 
  Units issued33,356 105,538 24,615 53,676 46,771 
  Units redeemed(10,390)(10,433)(7,915)(7,382)(13,495)
  Ending units84,107 127,822 35,282 68,575 160,459 


The accompanying notes are an integral part of these financial statements.
A95


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
DFA VA International Small PortfolioDFA VA International Value PortfolioClearBridge Variable Aggressive Growth Portfolio (Class I)ClearBridge Variable Appreciation Portfolio (Class I)ClearBridge Variable Dividend Strategy Portfolio (Class I)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
OPERATIONS
  Net investment income (loss)$8,442 $9,769 $— $344 $7,995 
  Capital gains distributions received6,916 3,273 — 2,402 64,363 
  Net realized gain (loss) on shares redeemed(6,080)(19,777)— (2,115)(2,122)
  Net change in unrealized appreciation (depreciation) on investments(35,235)(9,902)— (6,870)(117,082)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(25,957)(16,637)— (6,239)(46,846)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments212,385 114,895 — 53,402 359,618 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(11,201)(34,124)— (444)(13,974)
  Net transfers between other subaccounts
    or fixed rate option55,685 (36,851)— (24,199)33,572 
  Miscellaneous transactions— 84 — — 531 
  Other charges(677)(490)— (25)(851)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS256,192 43,514 — 28,734 378,896 
TOTAL INCREASE (DECREASE) IN NET ASSETS230,235 26,877 — 22,495 332,050 
NET ASSETS
  Beginning of period154,125 273,447 — 25,909 420,026 
  End of period$384,360 $300,324 $— $48,404 $752,076 
  Beginning units12,035 22,789 — 1,880 31,464 
  Units issued28,494 24,676 — 4,123 43,645 
  Units redeemed(3,890)(21,334)— (1,964)(13,537)
  Ending units36,639 26,131 — 4,039 61,572 


The accompanying notes are an integral part of these financial statements.
A96


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
ClearBridge Variable Large Cap Growth Portfolio (Class I)Franklin Multi-Asset Variable Conservative Growth Fund (Class I)Franklin Multi-Asset Variable Growth Fund (Class I)MFS® Technology Portfolio (Initial Class)MFS® Value Series (Service Class)
1/1/20221/1/20221/1/20221/1/20221/1/2022
tototototo
12/31/202212/31/202212/31/202212/31/202212/31/2022
OPERATIONS
  Net investment income (loss)$(356)$460 $2,097 $(1,046)$11,952 
  Capital gains distributions received5,706 1,227 6,677 41,571 420,643 
  Net realized gain (loss) on shares redeemed(207)(17)(299)(2,497)(38,037)
  Net change in unrealized appreciation (depreciation) on investments(40,237)(1,947)(22,018)(174,049)(169,108)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(35,094)(277)(13,543)(136,021)225,450 
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments— — — 352,338 11,459,585 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits— (131)— (7,308)(172,940)
  Net transfers between other subaccounts
    or fixed rate option3,045 22,792 280 10,438 1,434,105 
  Miscellaneous transactions— — — (1)(22,402)
  Other charges(327)— (258)(447)— 
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS2,718 22,661 22 355,020 12,698,348 
TOTAL INCREASE (DECREASE) IN NET ASSETS(32,376)22,384 (13,521)218,999 12,923,798 
NET ASSETS
  Beginning of period106,855 — 88,847 187,792 303,778 
  End of period$74,479 $22,384 $75,326 $406,791 $13,227,576 
  Beginning units7,144 — 6,699 12,426 19,408 
  Units issued270 2,167 62 30,188 951,536 
  Units redeemed(32)(13)(62)(594)(59,207)
  Ending units7,382 2,154 6,699 42,020 911,737 


The accompanying notes are an integral part of these financial statements.
A97


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2022
SUBACCOUNTS
PSF PGIM Government Money Market Portfolio (Class III)AST Bond Portfolio 2033
1/1/20221/3/2022*
toto
12/31/202212/31/2022
OPERATIONS
  Net investment income (loss)$1,000,145 $(2,041)
  Capital gains distributions received— — 
  Net realized gain (loss) on shares redeemed— 2,689 
  Net change in unrealized appreciation (depreciation) on investments— (3,681)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS1,000,145 (3,033)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments332,180,260 — 
  Annuity payments— — 
  Surrenders, withdrawals and death benefits(26,330,515)(5,565)
  Net transfers between other subaccounts
    or fixed rate option(222,143,022)269,260 
  Miscellaneous transactions50,357 — 
  Other charges(15,020)(69)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS83,742,060 263,626 
TOTAL INCREASE (DECREASE) IN NET ASSETS84,742,205 260,593 
NET ASSETS
  Beginning of period33,768,202 — 
  End of period$118,510,407 $260,593 
  Beginning units3,375,315 — 
  Units issued22,547,423 77,258 
  Units redeemed(14,145,745)(43,793)
  Ending units11,776,993 33,465 
*Date subaccount became available for investment.


The accompanying notes are an integral part of these financial statements.
A98


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
PSF PGIM Government Money Market Portfolio (Class I)PSF PGIM Total Return Bond Portfolio (Class I)PSF PGIM Jennison Blend Portfolio (Class I)PSF PGIM Flexible Managed Portfolio (Class I)PSF PGIM 50/50 Balanced Portfolio (Class I)
1/1/20211/1/20211/1/20211/1/20211/1/2021
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$(971,431)$(1,451,415)$(2,575,327)$(128,411)$(150,768)
  Capital gains distributions received— — — — — 
  Net realized gain (loss) on shares redeemed— 3,689,441 20,746,422 742,110 958,632 
  Net change in unrealized appreciation (depreciation) on investments— (4,610,636)12,287,708 727,457 412,391 
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(971,431)(2,372,610)30,458,803 1,341,156 1,220,255 
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments20,127,375 1,155,328 464,766 106,973 133,558 
  Annuity payments(1,079,368)(1,570,736)(1,662,987)(370,279)(407,479)
  Surrenders, withdrawals and death benefits(19,744,229)(13,934,351)(21,282,812)(702,160)(1,205,307)
  Net transfers between other subaccounts
    or fixed rate option3,173,100 4,911,769 (3,717,460)47,085 180,358 
Miscellaneous transactions(25,810)(890)(46,831)(1,234)(945)
  Other charges(90,091)(18,429)(107,764)— (125)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS2,360,977 (9,457,309)(26,353,088)(919,615)(1,299,940)
TOTAL INCREASE (DECREASE) IN NET ASSETS1,389,546 (11,829,919)4,105,715 421,541 (79,685)
NET ASSETS
  Beginning of period75,654,592 111,320,805 173,976,894 9,056,660 11,080,749 
  End of period$77,044,138 $99,490,886 $178,082,609 $9,478,201 $11,001,064 
  Beginning units63,611,302 35,328,343 31,433,511 2,239,076 2,977,339 
  Units issued24,939,984 818,168 211,168 49,057 53,780 
  Units redeemed(29,051,874)(4,069,383)(4,590,412)(275,990)(412,313)
  Ending units59,499,412 32,077,128 27,054,267 2,012,143 2,618,806 
The accompanying notes are an integral part of these financial statements.
A99


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
PSF PGIM Jennison Value Portfolio (Class I)PSF PGIM High Yield Bond Portfolio (Class I)PSF Natural Resources Portfolio (Class I)PSF Stock Index Portfolio (Class I)PSF Global Portfolio (Class I)
1/1/20211/1/20211/1/20211/1/20211/1/2021
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$(2,850,855)$(1,662,059)$(38,405)$(5,594,608)$(781,014)
  Capital gains distributions received— — — — — 
  Net realized gain (loss) on shares redeemed18,686,565 3,312,912 (48)39,794,291 6,054,808 
  Net change in unrealized appreciation (depreciation) on investments27,285,380 5,207,941 709,581 73,036,240 2,825,101 
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS43,121,090 6,858,794 671,128 107,235,923 8,098,895 
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments469,655 658,084 151,114 14,789,894 263,578 
  Annuity payments(1,662,415)(822,107)(36,640)(2,012,262)(349,751)
  Surrenders, withdrawals and death benefits(24,576,013)(15,003,450)(281,368)(47,353,270)(7,291,095)
  Net transfers between other subaccounts
    or fixed rate option(3,316,013)2,415,231 35,031 (9,373,879)(917,485)
Miscellaneous transactions(41,175)(1,754)279 (68,008)(6,524)
  Other charges(223,035)(132,199)(154)(822,164)(52,201)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS(29,348,996)(12,886,195)(131,738)(44,839,689)(8,353,478)
TOTAL INCREASE (DECREASE) IN NET ASSETS13,772,094 (6,027,401)539,390 62,396,234 (254,583)
NET ASSETS
  Beginning of period176,782,100 112,671,816 2,772,381 418,550,482 52,146,074 
  End of period$190,554,194 $106,644,415 $3,311,771 $480,946,716 $51,891,491 
  Beginning units46,148,178 19,358,708 490,858 63,156,295 13,540,109 
  Units issued526,556 437,485 21,650 2,326,489 207,521 
  Units redeemed(7,223,815)(2,660,631)(63,547)(10,598,285)(2,287,659)
  Ending units39,450,919 17,135,562 448,961 54,884,499 11,459,971 
The accompanying notes are an integral part of these financial statements.
A100


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
PSF PGIM Jennison Growth Portfolio (Class I)PSF Small-Cap Stock Index Portfolio (Class I)T. Rowe Price International Stock PortfolioT. Rowe Price Equity Income Portfolio (Equity Income Portfolio Class)Invesco V.I. Core Equity Fund (Series I)
1/1/20211/1/20211/1/20211/1/20211/1/2021
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$(5,361,790)$(918,503)$(144,883)$79,803 $(483,200)
  Capital gains distributions received— — 1,044,240 3,557,467 1,427,044 
  Net realized gain (loss) on shares redeemed49,813,902 8,082,498 618,429 1,999,950 2,040,854 
  Net change in unrealized appreciation (depreciation) on investments4,936,131 9,406,743 (1,432,367)5,010,511 11,879,960 
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS49,388,243 16,570,738 85,419 10,647,731 14,864,658 
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments1,318,030 2,995,809 62,949 98,301 243,762 
  Annuity payments(4,276,824)(503,406)(418,519)(756,724)(773,991)
  Surrenders, withdrawals and death benefits(41,736,234)(7,284,858)(1,908,135)(5,697,481)(8,215,335)
  Net transfers between other subaccounts
    or fixed rate option(6,050,233)(788,963)(303,268)(883,248)(1,158,530)
Miscellaneous transactions(4,825)(8,468)3,522 2,231 (6,283)
  Other charges(229,033)(106,370)(1,775)(6,496)(9,782)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS(50,979,119)(5,696,256)(2,565,226)(7,243,417)(9,920,159)
TOTAL INCREASE (DECREASE) IN NET ASSETS(1,590,876)10,874,482 (2,479,807)3,404,314 4,944,499 
NET ASSETS
  Beginning of period367,735,837 67,813,974 17,759,657 47,262,945 61,366,592 
  End of period$366,144,961 $78,688,456 $15,279,850 $50,667,259 $66,311,091 
  Beginning units44,193,387 8,148,652 7,401,384 10,587,438 15,937,789 
  Units issued628,393 718,295 100,024 149,995 82,476 
  Units redeemed(6,361,512)(1,467,442)(1,107,759)(1,574,030)(2,329,656)
  Ending units38,460,268 7,399,505 6,393,649 9,163,403 13,690,609 
The accompanying notes are an integral part of these financial statements.
A101


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
Janus Henderson VIT Research Portfolio (Institutional Shares)Janus Henderson VIT Overseas Portfolio (Institutional Shares)MFS® Research Series (Initial Class)MFS® Growth Series (Initial Class)American Century VP Value Fund (Class I)
1/1/20211/1/20211/1/20211/1/20211/1/2021
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$(791,979)$(137,889)$(145,978)$(1,063,397)$66,868 
  Capital gains distributions received3,078,459 — 949,320 10,347,335 — 
  Net realized gain (loss) on shares redeemed3,738,489 1,875,435 875,280 6,436,279 1,664,184 
  Net change in unrealized appreciation (depreciation) on investments4,435,861 4,123,066 1,828,006 (668,909)2,394,368 
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS10,460,830 5,860,612 3,506,628 15,051,308 4,125,420 
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments158,236 208,304 39,403 474,099 70,434 
  Annuity payments(493,505)(451,168)(162,014)(397,719)(262,284)
  Surrenders, withdrawals and death benefits(6,666,897)(5,446,734)(1,542,228)(9,206,650)(2,463,466)
  Net transfers between other subaccounts
    or fixed rate option(1,003,981)(1,504,360)(264,824)(774,548)(393,076)
Miscellaneous transactions(5,686)2,353 (1,457)19,339 (4,397)
  Other charges(8,296)(6,882)(2,106)(8,715)(2,605)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS(8,020,129)(7,198,487)(1,933,226)(9,894,194)(3,055,394)
TOTAL INCREASE (DECREASE) IN NET ASSETS2,440,701 (1,337,875)1,573,402 5,157,114 1,070,026 
NET ASSETS
  Beginning of period60,007,018 50,513,383 15,961,095 74,028,048 18,931,328 
  End of period$62,447,719 $49,175,508 $17,534,497 $79,185,162 $20,001,354 
  Beginning units10,969,919 11,790,436 3,265,202 10,743,323 4,347,300 
  Units issued22,797 19,585 37,861 126,702 181,363 
  Units redeemed(1,368,543)(1,567,011)(393,682)(1,462,962)(785,753)
  Ending units9,624,173 10,243,010 2,909,381 9,407,063 3,742,910 
The accompanying notes are an integral part of these financial statements.
A102


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
Franklin Small-Mid Cap Growth VIP Fund (Class 2)PSF PGIM Jennison Focused Blend Portfolio (Class I)Davis Value PortfolioAB VPS Large Cap Growth Portfolio (Class B)PSF Small-Cap Value Portfolio (Class I)
1/1/20211/1/20211/1/20211/1/20211/1/2021
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$(383,013)$(597,538)$(184,383)$(143,543)$(1,146,349)
  Capital gains distributions received3,161,744 — 3,316,002 786,748 — 
  Net realized gain (loss) on shares redeemed1,176,374 5,607,881 379,663 1,022,014 9,884,880 
  Net change in unrealized appreciation (depreciation) on investments(1,722,085)1,071,647 (221,124)756,157 6,913,518 
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS2,233,020 6,081,990 3,290,158 2,421,376 15,652,049 
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments116,194 167,753 24,933 6,000 440,183 
  Annuity payments(267,288)(637,834)(289,657)(14,059)(186,337)
  Surrenders, withdrawals and death benefits(3,616,160)(5,121,469)(2,504,131)(1,242,622)(9,043,852)
  Net transfers between other subaccounts
    or fixed rate option(1,387,659)(1,056,940)(495,314)34,757 (4,280,252)
Miscellaneous transactions23,935 (9,571)(1,776)367 (7,100)
  Other charges(3,318)(5,755)(2,529)(883)(158,899)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS(5,134,296)(6,663,816)(3,268,474)(1,216,440)(13,236,257)
TOTAL INCREASE (DECREASE) IN NET ASSETS(2,901,276)(581,826)21,684 1,204,936 2,415,792 
NET ASSETS
  Beginning of period28,340,614 42,559,236 20,214,540 9,931,408 67,045,172 
  End of period$25,439,338 $41,977,410 $20,236,224 $11,136,344 $69,460,964 
  Beginning units4,762,142 8,380,460 7,836,973 3,770,791 19,333,299 
  Units issued228,541 48,072 26,968 462,642 644,200 
  Units redeemed(1,031,508)(1,269,678)(1,111,818)(900,596)(3,915,520)
  Ending units3,959,175 7,158,854 6,752,123 3,332,837 16,061,979 
The accompanying notes are an integral part of these financial statements.
A103


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
Janus Henderson VIT Research Portfolio (Service Shares)PSF Mid-Cap Growth Portfolio (Class I)PSF International Growth Portfolio (Class I)AST Cohen & Steers Realty PortfolioAST J.P. Morgan Tactical Preservation Portfolio
1/1/20211/1/20211/1/20211/1/20211/1/2021
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$(176,023)$(1,731,117)$(509,622)$(3,128,376)$(46,334,154)
  Capital gains distributions received559,075 — — — — 
  Net realized gain (loss) on shares redeemed894,117 16,640,291 3,552,036 23,086,629 89,459,816 
  Net change in unrealized appreciation (depreciation) on investments521,084 (5,318,427)327,025 64,789,623 121,050,809 
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS1,798,253 9,590,747 3,369,439 84,747,876 164,176,471 
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments2,362 232,945 66,191 2,976,152 1,235,614 
  Annuity payments(44,776)(275,594)(241,277)(220,549)(1,008,462)
  Surrenders, withdrawals and death benefits(1,553,146)(15,531,546)(4,946,335)(20,460,227)(265,638,216)
  Net transfers between other subaccounts
    or fixed rate option(48,213)(3,739,747)(221,291)(21,629,864)2,092,041,294 
Miscellaneous transactions(1,906)(2,737)1,703 (20,979)(25,300)
  Other charges(25,618)(218,995)(63,681)(2,031,494)(35,826,633)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS(1,671,297)(19,535,674)(5,404,690)(41,386,961)1,790,778,297 
TOTAL INCREASE (DECREASE) IN NET ASSETS126,956 (9,944,927)(2,035,251)43,360,915 1,954,954,768 
NET ASSETS
  Beginning of period10,649,491 112,875,338 32,179,743 223,299,896 1,414,007,797 
  End of period$10,776,447 $102,930,411 $30,144,492 $266,660,811 $3,368,962,565 
  Beginning units3,104,096 18,626,894 11,417,185 10,060,325 87,356,124 
  Units issued43,083 216,069 392,032 1,143,722 142,616,226 
  Units redeemed(447,469)(3,168,784)(2,027,516)(2,589,167)(32,506,955)
  Ending units2,699,710 15,674,179 9,781,701 8,614,880 197,465,395 
The accompanying notes are an integral part of these financial statements.
A104


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
AST T. Rowe Price Large-Cap Value PortfolioAST High Yield PortfolioAST Small-Cap Growth Opportunities PortfolioAST Small-Cap Value PortfolioAST Mid-Cap Growth Portfolio
1/1/20211/1/20211/1/20211/1/20211/1/2021
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$(9,414,333)$(2,642,779)$(2,697,964)$(1,878,963)$(9,053,626)
  Capital gains distributions received— — — — — 
  Net realized gain (loss) on shares redeemed58,193,305 10,323,806 24,164,188 18,070,961 75,098,863 
  Net change in unrealized appreciation (depreciation) on investments112,230,988 3,610,155 (25,706,734)19,659,929 (4,626,922)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS161,009,960 11,291,182 (4,240,510)35,851,927 61,418,315 
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments6,186,162 5,124,811 2,278,883 1,925,725 6,325,665 
  Annuity payments(316,476)(101,784)(81,080)(88,093)(279,939)
  Surrenders, withdrawals and death benefits(62,808,562)(21,673,958)(18,255,269)(13,299,353)(61,690,887)
  Net transfers between other subaccounts
    or fixed rate option(66,682,710)8,215,124 693,922 (6,069,052)(18,808,377)
Miscellaneous transactions16,167 2,282 3,371 1,513 (25,903)
  Other charges(6,419,214)(1,554,175)(1,665,175)(1,175,684)(5,679,603)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS(130,024,633)(9,987,700)(17,025,348)(18,704,944)(80,159,044)
TOTAL INCREASE (DECREASE) IN NET ASSETS30,985,327 1,303,482 (21,265,858)17,146,983 (18,740,729)
NET ASSETS
  Beginning of period722,108,316 222,485,528 214,363,985 126,028,259 694,961,466 
  End of period$753,093,643 $223,789,010 $193,098,127 $143,175,242 $676,220,737 
  Beginning units40,082,742 13,873,681 6,330,445 6,132,478 21,151,928 
  Units issued3,311,750 2,504,277 1,062,511 1,312,370 2,651,853 
  Units redeemed(9,638,103)(3,033,693)(1,509,832)(2,043,632)(4,772,915)
  Ending units33,756,389 13,344,265 5,883,124 5,401,216 19,030,866 
The accompanying notes are an integral part of these financial statements.
A105


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
AST Large-Cap Value PortfolioAST Loomis Sayles Large-Cap Growth PortfolioAST MFS Growth PortfolioAST Mid-Cap Value PortfolioAST BlackRock Low Duration Bond Portfolio
1/1/20211/1/20211/1/20211/1/20211/1/2021
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$(5,459,338)$(6,385,616)$(3,607,219)$(5,998,701)$(2,505,815)
  Capital gains distributions received— — — — — 
  Net realized gain (loss) on shares redeemed69,224,967 62,017,117 37,379,681 42,076,227 2,764,476 
  Net change in unrealized appreciation (depreciation) on investments54,748,139 18,911,214 25,940,011 82,042,473 (3,941,874)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS118,513,768 74,542,715 59,712,473 118,119,999 (3,683,213)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments5,356,965 4,052,966 6,649,289 5,009,595 8,047,095 
  Annuity payments(272,658)(89,989)(121,988)(232,391)(531,486)
  Surrenders, withdrawals and death benefits(43,856,729)(44,707,885)(27,065,396)(37,655,604)(27,162,200)
  Net transfers between other subaccounts
    or fixed rate option(52,238,087)(22,260,687)(23,703,056)53,364,553 12,626,323 
Miscellaneous transactions(17,252)(21,017)(3,110)(11,773)3,058 
  Other charges(4,076,775)(3,681,046)(2,167,068)(3,825,548)(1,396,933)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS(95,104,536)(66,707,658)(46,411,329)16,648,832 (8,414,143)
TOTAL INCREASE (DECREASE) IN NET ASSETS23,409,232 7,835,057 13,301,144 134,768,831 (12,097,356)
NET ASSETS
  Beginning of period456,870,815 463,953,041 293,573,142 340,471,073 203,814,207 
  End of period$480,280,047 $471,788,098 $306,874,286 $475,239,904 $191,716,851 
  Beginning units20,700,942 11,729,310 7,886,333 16,156,536 19,290,034 
  Units issued2,265,909 1,295,777 1,143,448 6,107,692 4,947,199 
  Units redeemed(5,754,523)(2,713,009)(2,017,097)(5,080,751)(5,873,739)
  Ending units17,212,328 10,312,078 7,012,684 17,183,477 18,363,494 



The accompanying notes are an integral part of these financial statements.
A106


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
AST T. Rowe Price Natural Resources PortfolioAST T. Rowe Price Asset Allocation PortfolioAST MFS Global Equity PortfolioAST J.P. Morgan International Equity PortfolioAST Wellington Management Hedged Equity Portfolio
1/1/20211/1/20211/1/20211/1/20211/1/2021
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$(3,398,468)$(175,948,010)$(5,595,243)$(3,410,172)$(22,390,508)
  Capital gains distributions received— — — — — 
  Net realized gain (loss) on shares redeemed19,593,694 847,619,016 36,239,281 16,265,512 91,546,925 
  Net change in unrealized appreciation (depreciation) on investments31,996,834 578,658,915 33,526,052 8,552,266 78,468,443 
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS48,192,060 1,250,329,921 64,170,090 21,407,606 147,624,860 
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments1,919,068 10,209,034 4,570,876 692,595 1,275,654 
  Annuity payments(279,895)(2,920,826)(362,289)(84,884)(246,628)
  Surrenders, withdrawals and death benefits(21,494,456)(1,025,684,215)(36,822,443)(22,320,650)(128,137,409)
  Net transfers between other subaccounts
    or fixed rate option(22,202,136)3,136,047,337 (16,976,596)1,114,690 (6,037,386)
Miscellaneous transactions8,592 65,714 (3,433)1,337 (13,742)
  Other charges(2,306,977)(131,170,081)(3,705,555)(2,110,654)(16,809,543)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS(44,355,804)1,986,546,963 (53,299,440)(22,707,566)(149,969,054)
TOTAL INCREASE (DECREASE) IN NET ASSETS3,836,256 3,236,876,884 10,870,650 (1,299,960)(2,344,194)
NET ASSETS
  Beginning of period236,497,676 11,461,947,665 440,204,378 235,886,068 1,483,961,512 
  End of period$240,333,932 $14,698,824,549 $451,075,028 $234,586,108 $1,481,617,318 
  Beginning units23,646,910 574,902,435 17,709,033 14,571,025 92,866,838 
  Units issued2,548,661 189,244,349 1,407,070 1,750,780 7,231,326 
  Units redeemed(6,657,526)(100,295,629)(3,288,569)(3,154,799)(16,479,662)
  Ending units19,538,045 663,851,155 15,827,534 13,167,006 83,618,502 
The accompanying notes are an integral part of these financial statements.
A107


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
AST Capital Growth Asset Allocation PortfolioAST Academic Strategies Asset Allocation PortfolioAST Balanced Asset Allocation PortfolioAST Preservation Asset Allocation PortfolioAST Prudential Growth Allocation Portfolio
1/1/20211/1/20211/1/20211/1/20211/1/2021
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$(148,906,440)$(41,854,756)$(113,265,832)$(63,412,998)$(186,118,193)
  Capital gains distributions received— — — — — 
  Net realized gain (loss) on shares redeemed666,758,157 131,024,992 512,715,529 264,394,365 668,420,475 
  Net change in unrealized appreciation (depreciation) on investments891,446,208 184,356,881 434,556,403 (7,693,217)1,327,419,681 
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS1,409,297,925 273,527,117 834,006,100 193,288,150 1,809,721,963 
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments8,017,952 2,016,834 16,364,833 7,705,652 6,989,920 
  Annuity payments(1,435,416)(338,120)(5,622,327)(8,208,766)(3,740,128)
  Surrenders, withdrawals and death benefits(757,998,315)(214,020,883)(627,524,896)(468,736,429)(1,005,572,852)
  Net transfers between other subaccounts
    or fixed rate option(108,538,271)(38,665,515)(80,143,384)(10,795,899)(230,836,828)
Miscellaneous transactions(33,058)(2,626)(182,570)(9,777)(186,641)
  Other charges(99,609,415)(27,011,391)(77,287,760)(42,787,395)(144,334,828)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS(959,596,523)(278,021,701)(774,396,104)(522,832,614)(1,377,681,357)
TOTAL INCREASE (DECREASE) IN NET ASSETS449,701,402 (4,494,584)59,609,996 (329,544,464)432,040,606 
NET ASSETS
  Beginning of period9,641,762,466 2,680,162,648 7,752,708,117 4,402,594,618 12,604,378,004 
  End of period$10,091,463,868 $2,675,668,064 $7,812,318,113 $4,073,050,154 $13,036,418,610 
  Beginning units462,882,896 185,426,353 406,938,794 272,148,920 677,603,408 
  Units issued20,179,854 15,066,599 16,024,533 19,211,501 34,234,196 
  Units redeemed(63,840,978)(34,082,823)(55,025,126)(51,946,895)(104,848,044)
  Ending units419,221,772 166,410,129 367,938,201 239,413,526 606,989,560 
The accompanying notes are an integral part of these financial statements.
A108


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
AST Advanced Strategies PortfolioAST Large-Cap Growth PortfolioAST Government Money Market PortfolioAST Small-Cap Growth PortfolioAST BlackRock/Loomis Sayles Bond Portfolio
1/1/20211/1/20211/1/20211/1/20211/1/2021
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$(94,371,399)$(16,177,278)$(4,195,670)$(4,647,355)$(22,815,868)
  Capital gains distributions received— — — — — 
  Net realized gain (loss) on shares redeemed523,639,232 156,447,688 — 46,434,112 36,578,504 
  Net change in unrealized appreciation (depreciation) on investments319,401,756 39,756,635 — (29,097,245)(54,717,210)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS748,669,589 180,027,045 (4,195,670)12,689,512 (40,954,574)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments2,808,920 17,114,182 11,183,570 5,317,585 9,061,063 
  Annuity payments(1,353,048)(426,688)(708,777)(157,469)(1,228,961)
  Surrenders, withdrawals and death benefits(581,564,693)(110,652,384)(1,205,122,362)(33,705,903)(166,128,940)
  Net transfers between other subaccounts
    or fixed rate option(132,887,493)(49,571,729)1,140,111,093 (4,084,555)176,407,367 
Miscellaneous transactions(21,165)(4,799)48,681 (2,861)8,032 
  Other charges(68,760,871)(9,430,599)(1,997,885)(2,682,437)(14,672,600)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS(781,778,350)(152,972,017)(56,485,680)(35,315,640)3,445,961 
TOTAL INCREASE (DECREASE) IN NET ASSETS(33,108,761)27,055,028 (60,681,350)(22,626,128)(37,508,613)
NET ASSETS
  Beginning of period6,421,614,675 1,198,109,267 394,114,367 357,294,675 1,628,565,402 
  End of period$6,388,505,914 $1,225,164,295 $333,433,017 $334,668,547 $1,591,056,789 
  Beginning units320,430,398 26,176,568 42,575,497 9,192,141 124,641,967 
  Units issued17,499,289 3,097,608 44,214,092 1,517,786 23,180,303 
  Units redeemed(55,163,558)(5,572,731)(50,581,518)(2,235,790)(23,692,949)
  Ending units282,766,129 23,701,445 36,208,071 8,474,137 124,129,321 
The accompanying notes are an integral part of these financial statements.
A109


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
AST International Value PortfolioAST International Growth PortfolioAST Investment Grade Bond PortfolioAST Core Fixed Income PortfolioAST Cohen & Steers Global Realty Portfolio
1/1/20211/1/20211/1/20211/1/20211/1/2021
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$(1,757,471)$(3,581,606)$(15,247,322)$(17,787,505)$(982,395)
  Capital gains distributions received— — — — — 
  Net realized gain (loss) on shares redeemed5,669,993 28,058,837 32,099,078 30,916,869 5,995,038 
  Net change in unrealized appreciation (depreciation) on investments4,338,306 11,079,988 (55,028,443)(61,431,891)11,679,541 
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS8,250,828 35,557,219 (38,176,687)(48,302,527)16,692,184 
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments1,929,274 4,114,279 28,053 6,905,228 1,204,804 
  Annuity payments(55,488)(61,946)(605,870)(850,772)(12,565)
  Surrenders, withdrawals and death benefits(11,084,886)(24,461,220)(75,658,552)(124,582,675)(6,153,283)
  Net transfers between other subaccounts
    or fixed rate option3,244,383 (7,051,145)(57,483,377)160,482,187 (6,177,971)
Miscellaneous transactions210 62,805 9,521 22,595 (1,874)
  Other charges(1,027,576)(2,768,330)(13,393,570)(12,524,434)(658,125)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS(6,994,083)(30,165,557)(147,103,795)29,452,129 (11,799,014)
TOTAL INCREASE (DECREASE) IN NET ASSETS1,256,745 5,391,662 (185,280,482)(18,850,398)4,893,170 
NET ASSETS
  Beginning of period133,174,112 319,509,122 1,150,344,209 1,381,143,985 70,616,878 
  End of period$134,430,857 $324,900,784 $965,063,727 $1,362,293,587 $75,510,048 
  Beginning units10,617,433 14,819,852 67,532,977 94,750,142 4,067,443 
  Units issued1,358,941 1,502,813 50,399,950 18,795,572 550,306 
  Units redeemed(1,931,390)(2,754,257)(59,025,317)(17,214,002)(1,127,216)
  Ending units10,044,984 13,568,408 58,907,610 96,331,712 3,490,533 
The accompanying notes are an integral part of these financial statements.
A110


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
AST Emerging Markets Equity PortfolioAST Goldman Sachs Small-Cap Value PortfolioAST Moderate Multi-Asset PortfolioAST J.P. Morgan Global Thematic PortfolioProFund VP Consumer Services
1/1/20211/1/20211/1/20211/1/20211/1/2021
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$(3,515,804)$(4,417,700)$(57,752,336)$(37,720,847)$(9,634)
  Capital gains distributions received— — — — 75,016 
  Net realized gain (loss) on shares redeemed13,435,067 41,987,516 250,199,505 164,759,198 52,525 
  Net change in unrealized appreciation (depreciation) on investments(12,527,557)38,787,069 176,142,366 138,251,140 (16,036)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(2,608,294)76,356,885 368,589,535 265,289,491 101,871 
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments1,770,102 3,821,282 1,634,870 1,490,793 — 
  Annuity payments(59,770)(184,130)(847,517)(840,565)— 
  Surrenders, withdrawals and death benefits(18,255,387)(25,775,033)(346,771,984)(187,836,120)(474,493)
  Net transfers between other subaccounts
    or fixed rate option14,142,616 (40,444,194)(61,949,508)(28,437,088)(143,005)
Miscellaneous transactions8,020 (1,602)(5,805)6,484 (302)
  Other charges(2,431,895)(2,952,691)(45,431,920)(28,895,486)(6,494)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS(4,826,314)(65,536,368)(453,371,864)(244,511,982)(624,294)
TOTAL INCREASE (DECREASE) IN NET ASSETS(7,434,608)10,820,517 (84,782,329)20,777,509 (522,423)
NET ASSETS
  Beginning of period262,116,420 326,189,811 4,004,115,091 2,547,203,412 1,206,203 
  End of period$254,681,812 $337,010,328 $3,919,332,762 $2,567,980,921 $683,780 
  Beginning units24,148,345 14,037,719 235,816,565 137,600,497 29,094 
  Units issued4,279,721 1,556,162 11,286,850 8,024,012 977 
  Units redeemed(4,830,535)(3,862,105)(37,269,962)(20,883,249)(14,339)
  Ending units23,597,531 11,731,776 209,833,453 124,741,260 15,732 
The accompanying notes are an integral part of these financial statements.
A111


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
ProFund VP Consumer GoodsProFund VP FinancialsProFund VP Health CareProFund VP IndustrialsProFund VP Mid-Cap Growth
1/1/20211/1/20211/1/20211/1/20211/1/2021
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$(2,905)$(8,572)$(29,164)$(6,482)$(10,626)
  Capital gains distributions received18,852 48,212 208,618 29,679 83,973 
  Net realized gain (loss) on shares redeemed76,634 42,160 95,243 35,036 43,737 
  Net change in unrealized appreciation (depreciation) on investments(31,478)101,843 190,705 23,319 28,120 
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS61,103 183,643 465,402 81,552 145,204 
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments— — — — — 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(18,932)(26,857)(399,698)(13,287)(54,616)
  Net transfers between other subaccounts
    or fixed rate option(209,627)(72,768)(129,889)(75,497)40,267 
Miscellaneous transactions(16)— 34 — (16)
  Other charges(2,689)(6,325)(17,221)(3,738)(5,458)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS(231,264)(105,950)(546,774)(92,522)(19,823)
TOTAL INCREASE (DECREASE) IN NET ASSETS(170,161)77,693 (81,372)(10,970)125,381 
NET ASSETS
  Beginning of period505,981 687,905 2,470,657 563,133 901,015 
  End of period$335,820 $765,598 $2,389,285 $552,163 $1,026,396 
  Beginning units18,556 46,066 76,774 20,849 35,524 
  Units issued2,730 4,595 6,435 738 5,320 
  Units redeemed(10,935)(10,627)(21,088)(3,577)(6,746)
  Ending units10,351 40,034 62,121 18,010 34,098 


The accompanying notes are an integral part of these financial statements.
A112


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
ProFund VP Mid-Cap ValueProFund VP Real EstateProFund VP Small-Cap GrowthProFund VP Small-Cap ValueProFund VP Telecommunications
1/1/20211/1/20211/1/20211/1/20211/1/2021
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$(7,198)$(4,372)$(7,854)$(4,059)$(431)
  Capital gains distributions received— — 51,917 — — 
  Net realized gain (loss) on shares redeemed38,451 17,039 28,800 21,912 2,185 
  Net change in unrealized appreciation (depreciation) on investments128,381 98,875 65,718 51,300 16,061 
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS159,634 111,542 138,581 69,153 17,815 
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments— — — — — 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(77,320)(21,652)(18,942)(15,640)(5,320)
  Net transfers between other subaccounts
    or fixed rate option111,507 (1,490)(23,371)123,848 21,215 
Miscellaneous transactions— (97)62 — 
  Other charges(4,830)(3,238)(4,223)(2,630)(770)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS29,357 (26,377)(46,633)105,640 15,125 
TOTAL INCREASE (DECREASE) IN NET ASSETS188,991 85,165 91,948 174,793 32,940 
NET ASSETS
  Beginning of period610,600 324,060 717,230 237,573 103,659 
  End of period$799,591 $409,225 $809,178 $412,366 $136,599 
  Beginning units31,311 19,400 24,296 11,820 8,491 
  Units issued9,322 5,972 2,771 7,887 2,688 
  Units redeemed(8,053)(7,304)(4,319)(4,057)(1,411)
  Ending units32,580 18,068 22,748 15,650 9,768 
The accompanying notes are an integral part of these financial statements.
A113


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
ProFund VP UtilitiesProFund VP Large-Cap GrowthProFund VP Large-Cap ValueAST Jennison Large-Cap Growth PortfolioAllspring VT International Equity Fund (Class 1)
1/1/20211/1/20211/1/20211/1/20211/1/2021
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$2,260 $(22,095)$(2,939)$(5,688,651)$(297)
  Capital gains distributions received— 212,243 — — — 
  Net realized gain (loss) on shares redeemed(7,338)64,353 23,502 61,735,316 (5,199)
  Net change in unrealized appreciation (depreciation) on investments82,136 138,263 253,734 7,149,215 12,850 
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS77,058 392,764 274,297 63,195,880 7,354 
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments— — — 6,828,897 — 
  Annuity payments— — — (73,808)— 
  Surrenders, withdrawals and death benefits(21,076)(52,960)(34,380)(42,232,173)(6,770)
  Net transfers between other subaccounts
    or fixed rate option(24,082)(184,392)(26,817)(23,604,749)(577)
Miscellaneous transactions57 (31)— (20,423)— 
  Other charges(5,369)(9,685)(7,265)(3,458,094)(318)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS(50,470)(247,068)(68,462)(62,560,350)(7,665)
TOTAL INCREASE (DECREASE) IN NET ASSETS26,588 145,696 205,835 635,530 (311)
NET ASSETS
  Beginning of period562,637 1,485,827 1,300,761 451,663,857 125,448 
  End of period$589,225 $1,631,523 $1,506,596 $452,299,387 $125,137 
  Beginning units28,794 45,010 68,611 10,531,917 6,751 
  Units issued2,883 921 4,001 1,700,724 50 
  Units redeemed(5,451)(7,279)(7,378)(2,819,010)(431)
  Ending units26,226 38,652 65,234 9,413,631 6,370 
The accompanying notes are an integral part of these financial statements.
A114


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
Allspring VT Omega Growth Fund (Class 1)Allspring VT Small Cap Growth Fund (Class 1)AST Bond Portfolio 2022AST Quantitative Modeling PortfolioAST BlackRock Global Strategies Portfolio
1/1/20211/1/20211/1/20211/1/20211/1/2021
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$(10,911)$(7,282)$(583,572)$(11,949,843)$(27,208,129)
  Capital gains distributions received70,522 44,475 — — — 
  Net realized gain (loss) on shares redeemed123,614 23,356 134,728 75,223,593 107,938,104 
  Net change in unrealized appreciation (depreciation) on investments(94,220)(34,102)(439,496)110,183,893 97,587,539 
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS89,005 26,447 (888,340)173,457,643 178,317,514 
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments— — — 30,066,003 1,567,994 
  Annuity payments— — (132,891)(77,872)(2,230,506)
  Surrenders, withdrawals and death benefits(163,599)(18,294)(5,178,676)(126,431,907)(148,213,056)
  Net transfers between other subaccounts
    or fixed rate option(125,778)(6,853)44,433,872 (8,638,337)(12,335,400)
Miscellaneous transactions(329)— 3,138 22,987 (6,327)
  Other charges(1,333)(520)(18,383)(4,107,941)(19,661,443)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS(291,039)(25,667)39,107,060 (109,167,067)(180,878,738)
TOTAL INCREASE (DECREASE) IN NET ASSETS(202,034)780 38,218,720 64,290,576 (2,561,224)
NET ASSETS
  Beginning of period752,655 416,687 16,238,770 1,249,336,919 1,847,481,806 
  End of period$550,621 $417,467 $54,457,490 $1,313,627,495 $1,844,920,582 
  Beginning units99,176 9,877 1,310,460 75,101,538 130,978,783 
  Units issued1,213 480 3,632,959 3,885,207 9,993,474 
  Units redeemed(36,998)(1,030)(354,100)(9,217,274)(22,713,992)
  Ending units63,391 9,327 4,589,319 69,769,471 118,258,265 
The accompanying notes are an integral part of these financial statements.
A115


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
Allspring VT Opportunity Fund (Class 1)AST Prudential Core Bond PortfolioAST Bond Portfolio 2023AST MFS Growth Allocation PortfolioAST Western Asset Emerging Markets Debt Portfolio
1/1/20211/1/20211/1/20211/1/20211/1/2021
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$(15,926)$(5,231,892)$(81,173)$(13,288,280)$(78,614)
  Capital gains distributions received59,033 — — — — 
  Net realized gain (loss) on shares redeemed130,501 7,905,241 205,885 44,616,529 227,549 
  Net change in unrealized appreciation (depreciation) on investments58,690 (13,896,346)(279,446)85,379,713 (532,815)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS232,298 (11,222,997)(154,734)116,707,962 (383,880)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments— 4,162,972 — 2,525,683 816,309 
  Annuity payments— (211,780)— (213,615)— 
  Surrenders, withdrawals and death benefits(303,149)(47,487,506)(945,077)(63,730,540)(943,073)
  Net transfers between other subaccounts
    or fixed rate option(42,739)46,401,923 1,242,878 19,311,314 392,570 
Miscellaneous transactions8,362 (412)(526)(310)
  Other charges(1,866)(3,779,173)(3,714)(11,284,718)(33,807)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS(347,751)(905,202)293,675 (53,392,402)231,689 
TOTAL INCREASE (DECREASE) IN NET ASSETS(115,453)(12,128,199)138,941 63,315,560 (152,191)
NET ASSETS
  Beginning of period1,114,357 448,549,329 4,509,990 902,132,073 9,949,259 
  End of period$998,904 $436,421,130 $4,648,931 $965,447,633 $9,797,068 
  Beginning units36,822 35,983,698 414,632 54,398,886 825,020 
  Units issued134 8,251,394 187,831 4,470,524 223,415 
  Units redeemed(10,211)(8,496,092)(154,358)(7,602,394)(201,115)
  Ending units26,745 35,739,000 448,105 51,267,016 847,320 
The accompanying notes are an integral part of these financial statements.
A116


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
AST MFS Large-Cap Value PortfolioAST Bond Portfolio 2024AST ClearBridge Dividend Growth PortfolioAST Multi-Sector Fixed Income PortfolioAST Large-Cap Core Portfolio
1/1/20211/1/20211/1/20211/1/20211/1/2021
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$(3,078,906)$(11,838)$(2,415,757)$(290,337,981)$(1,062,197)
  Capital gains distributions received— — — — — 
  Net realized gain (loss) on shares redeemed16,449,541 39,054 14,103,981 339,618,970 2,456,127 
  Net change in unrealized appreciation (depreciation) on investments39,106,123 (53,913)30,505,140 (420,130,547)23,064,601 
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS52,476,758 (26,697)42,193,364 (370,849,558)24,458,531 
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments4,910,351 — 1,441,176 2,427,026 1,940,527 
  Annuity payments(60,796)— (37,988)(532,188)— 
  Surrenders, withdrawals and death benefits(18,711,867)(103,814)(16,215,113)(1,042,583,670)(7,070,663)
  Net transfers between other subaccounts
    or fixed rate option(5,022,167)(952,113)(4,286,857)393,697 252,130,947 
Miscellaneous transactions(4,767)584 74,345 9,106 
  Other charges(1,964,430)(257)(1,507,458)(1,602,660)(613,727)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS(20,853,676)(1,056,183)(20,605,656)(1,041,823,450)246,396,190 
TOTAL INCREASE (DECREASE) IN NET ASSETS31,623,082 (1,082,880)21,587,708 (1,412,673,008)270,854,721 
NET ASSETS
  Beginning of period228,836,775 1,428,413 179,574,859 16,087,143,580 43,236,592 
  End of period$260,459,857 $345,533 $201,162,567 $14,674,470,572 $314,091,313 
  Beginning units11,094,781 131,693 9,007,153 1,200,377,231 2,174,725 
  Units issued1,633,922 28,399 1,272,943 3,642,991 11,543,505 
  Units redeemed(2,370,462)(127,125)(2,149,679)(83,573,388)(824,963)
  Ending units10,358,241 32,967 8,130,417 1,120,446,834 12,893,267 
The accompanying notes are an integral part of these financial statements.
A117


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
AST Bond Portfolio 2025AST T. Rowe Price Growth Opportunities PortfolioAST T. Rowe Price Diversified Real Growth PortfolioAST Prudential Flexible Multi-Strategy PortfolioAST Franklin 85/15 Diversified Allocation Portfolio
1/1/20211/1/20211/1/20211/1/20211/1/2021
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$(27,858)$(45,589,621)$(916,465)$(672,754)$(7,697,735)
  Capital gains distributions received— — — — — 
  Net realized gain (loss) on shares redeemed79,810 75,236,796 5,126,572 3,342,380 11,214,661 
  Net change in unrealized appreciation (depreciation) on investments(124,738)398,579,816 13,231,977 10,637,351 93,550,079 
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(72,786)428,226,991 17,442,084 13,306,977 97,067,005 
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments— 7,944,079 3,825,091 2,899,927 200,447 
  Annuity payments— (81,079)— — — 
  Surrenders, withdrawals and death benefits(83,752)(120,156,157)(7,291,190)(6,090,694)(16,155,032)
  Net transfers between other subaccounts
    or fixed rate option(1,566,442)(24,217,852)(4,677,453)(3,925,168)(263,816)
Miscellaneous transactions32 (12,932)1,655 1,998 1,719 
  Other charges(410)(40,921,608)(687,497)(546,388)(7,182,884)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS(1,650,572)(177,445,549)(8,829,394)(7,660,325)(23,399,566)
TOTAL INCREASE (DECREASE) IN NET ASSETS(1,723,358)250,781,442 8,612,690 5,646,652 73,667,439 
NET ASSETS
  Beginning of period2,808,487 3,080,473,390 142,737,411 108,310,937 513,153,049 
  End of period$1,085,129 $3,331,254,832 $151,350,101 $113,957,589 $586,820,488 
  Beginning units220,420 188,340,685 8,977,352 7,540,416 38,487,233 
  Units issued70,743 828,699 422,542 284,697 624,258 
  Units redeemed(200,177)(10,698,105)(844,122)(736,560)(2,198,635)
  Ending units90,986 178,471,279 8,555,772 7,088,553 36,912,856 
The accompanying notes are an integral part of these financial statements.
A118


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
AST Bond Portfolio 2026AST Global Bond PortfolioAST QMA International Core Equity PortfolioBlackRock Global Allocation V.I. Fund (Class III)JPMorgan Insurance Trust Income Builder Portfolio (Class 2)
1/1/20211/1/20211/1/20211/1/20211/1/2021
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$(124,366)$(2,148,730)$(63,156)$159,995 $449,361 
  Capital gains distributions received— — — 11,408,319 75,120 
  Net realized gain (loss) on shares redeemed372,051 (96,145)157,011 774,255 183,451 
  Net change in unrealized appreciation (depreciation) on investments(623,429)(2,754,127)1,073,808 (8,559,950)893,777 
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(375,744)(4,999,002)1,167,663 3,782,619 1,601,709 
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments— 3,527,297 503,724 2,756,751 760,155 
  Annuity payments— (198,718)— — — 
  Surrenders, withdrawals and death benefits(1,059,728)(14,611,835)(385,810)(1,928,192)(1,149,312)
  Net transfers between other subaccounts
    or fixed rate option(3,643,029)16,014,811 81,653 (599,019)670,828 
Miscellaneous transactions(1,924)2,139 729 3,829 664 
  Other charges(3,016)(1,648,099)(48,074)(314,720)(116,783)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS(4,707,697)3,085,595 152,222 (81,351)165,552 
TOTAL INCREASE (DECREASE) IN NET ASSETS(5,083,441)(1,913,407)1,319,885 3,701,268 1,767,261 
NET ASSETS
  Beginning of period9,088,942 199,922,121 10,110,038 65,021,641 21,174,753 
  End of period$4,005,501 $198,008,714 $11,429,923 $68,722,909 $22,942,014 
  Beginning units811,455 18,520,705 848,093 4,459,269 1,657,537 
  Units issued257,715 3,141,255 74,965 354,449 159,612 
  Units redeemed(691,664)(2,849,678)(61,508)(330,582)(139,156)
  Ending units377,506 18,812,282 861,550 4,483,136 1,677,993 
The accompanying notes are an integral part of these financial statements.
A119


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
AST Bond Portfolio 2027NVIT Emerging Markets Fund (Class D)AST Bond Portfolio 2028AST Bond Portfolio 2029AST American Funds Growth Allocation Portfolio
1/1/20211/1/20211/1/20211/1/20211/1/2021
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$(190,350)$(40,144)$(202,753)$(480)$(16,744,609)
  Capital gains distributions received— — — — — 
  Net realized gain (loss) on shares redeemed82,806 478,083 (15,760)(205)19,389,312 
  Net change in unrealized appreciation (depreciation) on investments(531,853)(832,029)(133,234)(820)158,693,987 
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(639,397)(394,090)(351,747)(1,505)161,338,690 
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments— 7,649 — — 4,094,080 
  Annuity payments— (164,557)— — — 
  Surrenders, withdrawals and death benefits(1,199,113)(644,705)(1,886,010)— (24,987,768)
  Net transfers between other subaccounts
    or fixed rate option(2,140,633)(320,173)22,322,118 (13,464)(2,735,103)
Miscellaneous transactions59 232 13 (4,046)
  Other charges(3,812)(17,164)(1,401)(35)(16,430,900)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS(3,343,499)(1,138,718)20,434,720 (13,496)(40,063,737)
TOTAL INCREASE (DECREASE) IN NET ASSETS(3,982,896)(1,532,808)20,082,973 (15,001)121,274,953 
NET ASSETS
  Beginning of period11,975,450 6,113,896 489 37,569 1,227,832,533 
  End of period$7,992,554 $4,581,088 $20,083,462 $22,568 $1,349,107,486 
  Beginning units1,049,495 418,305 41 3,155 89,194,772 
  Units issued404,640 41,518 2,237,551 613 603,493 
  Units redeemed(705,085)(115,209)(427,148)(1,765)(3,271,896)
  Ending units749,050 344,614 1,810,444 2,003 86,526,369 










The accompanying notes are an integral part of these financial statements.
A120


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
AST Bond Portfolio 2030AST BlackRock 80/20 Target Allocation ETF PortfolioAST BlackRock 60/40 Target Allocation ETF PortfolioAST Western Asset Corporate Bond PortfolioAST T. Rowe Price Corporate Bond Portfolio
1/1/20211/1/20211/1/20211/1/20211/1/2021
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$(568,844)$(4,087,242)$(2,746,076)$(41,960)$(36,142)
  Capital gains distributions received— — — — — 
  Net realized gain (loss) on shares redeemed211,475 3,033,611 2,551,898 3,813 1,667 
  Net change in unrealized appreciation (depreciation) on investments(1,988,770)41,681,336 21,143,218 (46,563)(31,292)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(2,346,139)40,627,705 20,949,040 (84,710)(65,767)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments41 2,459,533 1,067,912 371,147 257,319 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(6,061,880)(3,385,231)(4,434,093)(139,498)(175,053)
  Net transfers between other subaccounts
    or fixed rate option(17,164,324)3,697,213 526,420 (104,260)(914)
Miscellaneous transactions(1,124)(17,531)(8,628)195 18 
  Other charges(12,115)(3,754,292)(2,771,737)(497)(274)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS(23,239,402)(1,000,308)(5,620,126)127,087 81,096 
TOTAL INCREASE (DECREASE) IN NET ASSETS(25,585,541)39,627,397 15,328,914 42,377 15,329 
NET ASSETS
  Beginning of period43,328,661 279,518,791 207,230,704 3,384,224 2,946,984 
  End of period$17,743,120 $319,146,188 $222,559,618 $3,426,601 $2,962,313 
  Beginning units3,435,015 19,637,368 15,395,101 315,002 274,048 
  Units issued596,184 446,816 215,477 36,243 25,629 
  Units redeemed(2,535,521)(492,243)(604,224)(24,589)(18,231)
  Ending units1,495,678 19,591,941 15,006,354 326,656 281,446 
The accompanying notes are an integral part of these financial statements.
A121


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
AST PIMCO Corporate Bond PortfolioAST Prudential Corporate Bond PortfolioAST BlackRock Corporate Bond PortfolioAST Bond Portfolio 2031Fidelity® VIP Contrafund® Portfolio (Initial Class)
1/1/20211/1/20211/1/20211/1/20211/1/2021
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$(56,012)$(80,041)$(47,193)$(1,209,269)$(619)
  Capital gains distributions received— — — — 55,184 
  Net realized gain (loss) on shares redeemed1,531 5,888 (549)(2,282,025)339 
  Net change in unrealized appreciation (depreciation) on investments(40,867)(55,762)(57,462)71,697 (27,750)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(95,348)(129,915)(105,204)(3,419,597)27,154 
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments365,865 403,330 424,272 288 665,022 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(99,549)(149,679)(182,675)(9,391,017)(1,539)
  Net transfers between other subaccounts
    or fixed rate option139,726 135,224 15,818 (7,649,352)34,010 
Miscellaneous transactions21 103 28 (1,786)— 
  Other charges(235)(1,216)(495)(34,480)(132)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS405,828 387,762 256,948 (17,076,347)697,361 
TOTAL INCREASE (DECREASE) IN NET ASSETS310,480 257,847 151,744 (20,495,944)724,515 
NET ASSETS
  Beginning of period4,361,033 6,227,837 3,848,385 58,918,690 11,057 
  End of period$4,671,513 $6,485,684 $4,000,129 $38,422,746 $735,572 
  Beginning units405,948 578,164 350,158 5,311,877 912 
  Units issued50,005 52,477 40,432 5,647,103 47,009 
  Units redeemed(11,817)(16,397)(17,247)(7,249,766)(297)
  Ending units444,136 614,244 373,343 3,709,214 47,624 
The accompanying notes are an integral part of these financial statements.
A122


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
Fidelity® VIP Growth Opportunities Portfolio (Initial Class)Fidelity® VIP Growth Portfolio (Initial Class)Fidelity® VIP Investment Grade Bond Portfolio (Initial Class)MFS® New Discovery Series (Initial Class)MFS® Total Return Series (Initial Class)
1/1/20211/1/20211/1/20211/1/20211/1/2021
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$(1,542)$(221)$6,888 $(764)$16,846 
  Capital gains distributions received30,096 9,711 7,907 50,759 56,753 
  Net realized gain (loss) on shares redeemed1,372 (58)(600)2,092 
  Net change in unrealized appreciation (depreciation) on investments(12,494)(294)(14,877)(66,489)66,701 
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS17,432 9,205 (140)(17,094)142,392 
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments461,668 23,434 257,885 225,385 176,248 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(9,943)(286)(8,623)(4,272)(30,651)
  Net transfers between other subaccounts
    or fixed rate option96,858 18,256 152,654 157,464 6,175 
Miscellaneous transactions(2)— 16 15 33 
  Other charges(655)— (228)(644)(4,403)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS547,926 41,404 401,704 377,948 147,402 
TOTAL INCREASE (DECREASE) IN NET ASSETS565,358 50,609 401,564 360,854 289,794 
NET ASSETS
  Beginning of period108,464 27,012 50,725 7,122 935,266 
  End of period$673,822 $77,621 $452,289 $367,976 $1,225,060 
  Beginning units7,092 2,037 4,771 512 86,929 
  Units issued33,698 2,749 38,872 25,884 16,167 
  Units redeemed(1,288)(17)(679)(346)(2,925)
  Ending units39,502 4,769 42,964 26,050 100,171 
The accompanying notes are an integral part of these financial statements.
A123


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
MFS® Total Return Bond Series (Initial Class)Vanguard Equity Index PortfolioVanguard Global Bond IndexVanguard Mid-Cap Index PortfolioVanguard Real Estate Index Portfolio
1/1/20211/1/20211/1/20211/1/20211/1/2021
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$8,527 $(1,153)$155 $(3,116)$(1,636)
  Capital gains distributions received25 2,157 850 4,625 1,472 
  Net realized gain (loss) on shares redeemed(450)2,509 (63)1,030 1,699 
  Net change in unrealized appreciation (depreciation) on investments(11,092)50,245 (3,340)87,922 114,359 
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(2,990)53,758 (2,398)90,461 115,894 
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments313,496 198,240 177,740 737,581 458,346 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(26,202)(3,647)(2,514)(8,629)(7,884)
  Net transfers between other subaccounts
    or fixed rate option34,774 215,778 148,849 391,943 380,867 
Miscellaneous transactions(9)43 25 384 186 
  Other charges(285)(429)(269)(802)(632)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS321,774 409,985 323,831 1,120,477 830,883 
TOTAL INCREASE (DECREASE) IN NET ASSETS318,784 463,743 321,433 1,210,938 946,777 
NET ASSETS
  Beginning of period57,195 51,739 2,954 14,751 28,661 
  End of period$375,979 $515,482 $324,387 $1,225,689 $975,438 
  Beginning units5,429 4,566 286 1,299 3,253 
  Units issued32,340 32,934 32,296 87,574 78,276 
  Units redeemed(1,603)(1,869)(356)(1,447)-2064
  Ending units36,166 35,631 32,226 87,426 79,465 


The accompanying notes are an integral part of these financial statements.
A124


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
Vanguard Total Bond Market Index PortfolioVanguard Total International Stock Market Index PortfolioVanguard Total Stock Market Index PortfolioVanguard Balanced PortfolioVanguard Conservative Allocation Portfolio
1/1/20211/1/20211/1/20211/1/20211/1/2021
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$(1,700)$(1,189)$(2,971)$(5,073)$(638)
  Capital gains distributions received466 1,539 14,116 3,311 2,600 
  Net realized gain (loss) on shares redeemed57 47 2,541 501 150 
  Net change in unrealized appreciation (depreciation) on investments338 (3,767)153,926 105,062 7,588 
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(839)(3,370)167,612 103,801 9,700 
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments913,267 905,570 902,948 1,414,719 166,501 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(16,659)(22,985)(25,720)(7,769)(4,025)
  Net transfers between other subaccounts
    or fixed rate option197,337 347,577 268,232 631,583 207,486 
Miscellaneous transactions13 438 (26)36 — 
  Other charges(931)(1,204)(2,008)(1,410)(72)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS1,093,027 1,229,396 1,143,426 2,037,159 369,890 
TOTAL INCREASE (DECREASE) IN NET ASSETS1,092,188 1,226,026 1,311,038 2,140,960 379,590 
NET ASSETS
  Beginning of period25,811 71,366 131,562 61,813 75,346 
  End of period$1,117,999 $1,297,392 $1,442,600 $2,202,773 $454,936 
  Beginning units2,478 6,340 11,386 5,761 6,933 
  Units issued108,846 101,934 91,048 169,308 33,245 
  Units redeemed(1,281)(1,243)(2,346)-1316(361)
  Ending units110,043 107,031 100,088 173,753 39,817 


The accompanying notes are an integral part of these financial statements.
A125


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
Vanguard Growth PortfolioVanguard High Yield Bond PortfolioVanguard Moderate Allocation PortfolioVanguard Short-Term Investment Grade PortfolioAmerican Funds IS Asset Allocation Fund (Class 1)
1/1/20211/1/20211/1/20211/1/20211/1/2021
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$(2,267)$(335)$490 $(96)$60,640 
  Capital gains distributions received14,416 — 6,610 755 36,149 
  Net realized gain (loss) on shares redeemed663 47 10,321 (62)1,513 
  Net change in unrealized appreciation (depreciation) on investments32,393 3,024 9,730 (8,042)124,071 
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS45,205 2,736 27,151 (7,445)222,373 
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments328,874 104,786 595,729 437,361 4,924,888 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(3,592)(1,857)(30,553)(11,809)(52,485)
  Net transfers between other subaccounts
    or fixed rate option90,587 55,840 (210,467)386,179 127,279 
Miscellaneous transactions54 (6)50 
  Other charges(364)(185)(500)(571)(3,397)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS415,559 158,585 354,203 811,161 4,996,335 
TOTAL INCREASE (DECREASE) IN NET ASSETS460,764 161,321 381,354 803,716 5,218,708 
NET ASSETS
  Beginning of period11,283 6,043 51,511 30,791 285,711 
  End of period$472,047 $167,364 $432,865 $834,507 $5,504,419 
  Beginning units862 583 4,647 2,974 26,092 
  Units issued35,622 15,316 61,160 79,765 417,681 
  Units redeemed(5,630)(215)(30,045)(1,147)(4,629)
  Ending units30,854 15,684 35,762 81,592 439,144 
The accompanying notes are an integral part of these financial statements.
A126


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
American Funds IS Washington Mutual Investors Fund℠ (Class 1)American Funds IS The Bond Fund of America® (Class 1)American Funds IS Growth Fund (Class 1)American Funds IS Growth-Income Fund (Class 1)American Funds IS U.S. Government Securities Fund® (Class 1)
1/1/20211/1/20211/1/20211/1/20211/1/2021
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$3,289 $5,448 $(1,602)$13,303 $3,394 
  Capital gains distributions received— 11,498 112,174 10,461 26,776 
  Net realized gain (loss) on shares redeemed957 (112)4,541 72 (376)
  Net change in unrealized appreciation (depreciation) on investments59,150 (15,127)94,873 149,451 (28,283)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS63,396 1,707 209,986 173,287 1,511 
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments740,505 351,479 1,343,822 1,447,291 210,118 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(3,387)(4,054)(14,209)(6,935)(2,981)
  Net transfers between other subaccounts
    or fixed rate option3,647 123,754 329,794 242,933 127,641 
Miscellaneous transactions— 170 682 121 (5)
  Other charges(177)(214)(1,478)(1,135)(337)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS740,588 471,135 1,658,611 1,682,275 334,436 
TOTAL INCREASE (DECREASE) IN NET ASSETS803,984 472,842 1,868,597 1,855,562 335,947 
NET ASSETS
  Beginning of period80,293 43,135 334,716 24,708 21,599 
  End of period$884,277 $515,977 $2,203,313 $1,880,270 $357,546 
  Beginning units7,489 4,051 24,143 2,241 2,005 
  Units issued57,891 45,125 113,489 145,614 31,967 
  Units redeemed(545)(360)(6,736)(9,877)(373)
  Ending units64,835 48,816 130,896 137,978 33,599 
The accompanying notes are an integral part of these financial statements.
A127


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
BlackRock Basic Value V.I. Fund (Class I)BlackRock Capital Appreciation V.I. Fund (Class I)BlackRock Equity Dividend V.I. Fund (Class I)BlackRock Global Allocation V.I. Fund (Class I)DFA VA Global Bond Portfolio
1/1/20211/1/20211/1/20211/1/20211/1/2021
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$5,306 $(849)$24,809 $7,521 $1,679 
  Capital gains distributions received69,071 66,969 341,437 170,491 49 
  Net realized gain (loss) on shares redeemed896 404 1,233 (416)(6)
  Net change in unrealized appreciation (depreciation) on investments(6,777)(45,299)(228,922)(163,610)(9,726)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS68,496 21,225 138,557 13,986 (8,004)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments166,567 279,010 2,338,325 1,244,492 485,817 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(3,081)(5,127)(5,913)(40,018)(3,016)
  Net transfers between other subaccounts
    or fixed rate option3,820 47,148 57,941 17,466 1,692 
Miscellaneous transactions37 132 2,498 — 
  Other charges(165)(278)(299)(1,323)(122)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS167,178 320,762 2,390,186 1,223,115 484,371 
TOTAL INCREASE (DECREASE) IN NET ASSETS235,674 341,987 2,528,743 1,237,101 476,367 
NET ASSETS
  Beginning of period299,495 49,081 308,942 20,785 23,863 
  End of period$535,169 $391,068 $2,837,685 $1,257,886 $500,230 
  Beginning units28,703 3,788 29,722 1,759 2,379 
  Units issued16,007 23,357 202,379 115,497 48,646 
  Units redeemed(2,413)(2,118)(4,619)(17,119)(318)
  Ending units42,297 25,027 227,482 100,137 50,707 
The accompanying notes are an integral part of these financial statements.
A128


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
DFA VA Short-Term Fixed PortfolioDFA VA U.S. Large Value PortfolioDFA VA U.S. Targeted Value PortfolioFidelity® VIP Balanced Portfolio (Initial Class)Fidelity® VIP Consumer Discretionary Portfolio (Initial Class)
1/1/20211/1/20211/1/20211/1/20211/1/2021
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$(3,528)$7,126 $2,629 $18,146 $(147)
  Capital gains distributions received— — 17,145 96,490 1,126 
  Net realized gain (loss) on shares redeemed(6)40 147 1,717 48 
  Net change in unrealized appreciation (depreciation) on investments(1,549)26,976 2,465 309,586 4,789 
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(5,083)34,142 22,386 425,939 5,816 
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments380,933 523,844 152,599 872,127 85,550 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(7,953)(12,544)(1,525)(78,453)(908)
  Net transfers between other subaccounts
    or fixed rate option403,605 59,714 124,057 2,967,762 21,104 
Miscellaneous transactions(1)419 50 2,313 — 
  Other charges(967)(148)(156)(1,179)(48)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS775,617 571,285 275,025 3,762,570 105,698 
TOTAL INCREASE (DECREASE) IN NET ASSETS770,534 605,427 297,411 4,188,509 111,514 
NET ASSETS
  Beginning of period17,369 14,952 4,878 119,386 — 
  End of period$787,903 $620,379 $302,289 $4,307,895 $111,514 
  Beginning units1,744 1,501 453 10,163 — 
  Units issued79,040 48,911 20,090 321,221 7,359 
  Units redeemed(977)(1,030)(295)(19,601)(131)
  Ending units79,807 49,382 20,248 311,783 7,228 
The accompanying notes are an integral part of these financial statements.
A129


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
Fidelity® VIP Disciplined Small Cap Portfolio (Initial Class)Fidelity® VIP Emerging Markets Portfolio (Initial Class)Fidelity® VIP Financial Services Portfolio (Initial Class)Fidelity® VIP Floating Rate High Income Portfolio (Initial Class)Fidelity® VIP Health Care Portfolio (Initial Class)
1/1/20211/1/20211/1/20211/1/20211/1/2021
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$592 $18,399 $767 $8,626 $(596)
  Capital gains distributions received7,153 74,657 413 — 1,588 
  Net realized gain (loss) on shares redeemed964 (538)24 37 182 
  Net change in unrealized appreciation (depreciation) on investments56,353 (163,161)2,321 (1,351)11,666 
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS65,062 (70,643)3,525 7,312 12,840 
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments41,148 650,672 69,023 348,958 156,376 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(3,340)(7,650)(221)(5,254)(1,922)
  Net transfers between other subaccounts
    or fixed rate option(521)408,606 28,444 53,056 76,512 
Miscellaneous transactions313 511 — — 
  Other charges(15)(949)(106)(316)(406)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS37,585 1,051,190 97,141 396,444 230,560 
TOTAL INCREASE (DECREASE) IN NET ASSETS102,647 980,547 100,666 403,756 243,400 
NET ASSETS
  Beginning of period316,899 7,086 — 11,042 5,036 
  End of period$419,546 $987,633 $100,666 $414,798 $248,436 
  Beginning units26,416 534 — 1,082 431 
  Units issued2,929 76,631 7,661 38,323 18,981 
  Units redeemed(278)(721)(59)(605)(296)
  Ending units29,067 76,444 7,602 38,800 19,116 
The accompanying notes are an integral part of these financial statements.
A130


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
Fidelity® VIP Industrials Portfolio (Initial Class)Fidelity® VIP International Capital Appreciation Portfolio (Initial Class)Fidelity® VIP Mid Cap Portfolio (Initial Class)Fidelity® VIP Strategic Income Portfolio (Initial Class)Fidelity® VIP Technology Portfolio (Initial Class)
1/1/20211/1/20211/1/20211/1/20211/1/2021
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$(100)$(1,283)$2,039 $2,075 $(930)
  Capital gains distributions received3,059 17,269 86,489 1,236 16,153 
  Net realized gain (loss) on shares redeemed16 324 971 (5)3,084 
  Net change in unrealized appreciation (depreciation) on investments412 13,871 3,122 (2,565)52,423 
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS3,387 30,181 92,621 741 70,730 
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments7,500 460,518 141,404 30,224 200,498 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(136)(1,279)(3,754)(772)(4,561)
  Net transfers between other subaccounts
    or fixed rate option29,077 37,338 42,552 44,539 143,711 
Miscellaneous transactions— (46)(41)— (2)
  Other charges(43)(323)(131)(61)(661)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS36,398 496,208 180,030 73,930 338,985 
TOTAL INCREASE (DECREASE) IN NET ASSETS39,785 526,389 272,651 74,671 409,715 
NET ASSETS
  Beginning of period3,592 31,335 309,469 15,338 11,409 
  End of period$43,377 $557,724 $582,120 $90,009 $421,124 
  Beginning units333 2,649 26,762 1,458 761 
  Units issued3,164 39,780 13,989 6,901 22,660 
  Units redeemed(47)(338)-529(79)(1,419)
  Ending units3,450 42,091 40,222 8,280 22,002 

The accompanying notes are an integral part of these financial statements.
A131


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
Fidelity® VIP Utilities Portfolio (Initial Class)ClearBridge Variable Mid Cap Portfolio (Class I)ClearBridge Variable Small Cap Growth Portfolio (Class I)Western Asset Core Plus VIT Portfolio (Class I)Western Asset Variable Global High Yield Bond Portfolio (Class I)
1/1/20211/1/20211/1/20211/1/20211/1/2021
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$274 $(560)$(2,023)$56,301 $2,986 
  Capital gains distributions received— 24,044 100,312 — — 
  Net realized gain (loss) on shares redeemed35 158 122 (165)
  Net change in unrealized appreciation (depreciation) on investments1,834 7,520 (57,657)(70,996)(2,556)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS2,143 31,162 40,754 (14,860)435 
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments15,926 177,293 483,744 2,046,996 62,616 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(493)(1,807)(4,322)(7,939)(617)
  Net transfers between other subaccounts
    or fixed rate option— 26,512 77,980 214,911 1,183 
Miscellaneous transactions— (41)(11)— 
  Other charges— (79)(136)(264)(65)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS15,433 201,878 557,255 2,253,704 63,121 
TOTAL INCREASE (DECREASE) IN NET ASSETS17,576 233,040 598,009 2,238,844 63,556 
NET ASSETS
  Beginning of period— 5,559 315,067 133,025 9,253 
  End of period$17,576 $238,599 $913,076 $2,371,869 $72,809 
  Beginning units— 498 23,105 12,533 878 
  Units issued1,670 16,370 36,859 217,065 6,032 
  Units redeemed(48)(181)(283)(991)(63)
  Ending units1,622 16,687 59,681 228,607 6,847 
The accompanying notes are an integral part of these financial statements.
A132


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
MFS® Mid Cap Growth Series (Initial Class)MFS® International Intrinsic Value Portfolio (Initial Class)MFS® Massachusetts Investors Growth Stock Portfolio (Initial Class)MFS® International Growth Portfolio (Service Class)MFS® Massachusetts Investors Growth Stock Portfolio (Service Class)
1/1/20211/1/20211/1/20211/1/20211/1/2021
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$(704)$(47)$(56)$(2,126)$(3,385)
  Capital gains distributions received48,010 3,905 4,196 82,232 89,870 
  Net realized gain (loss) on shares redeemed(2,390)124 39 16,142 3,684 
  Net change in unrealized appreciation (depreciation) on investments(16,402)8,410 1,954 31,982 43,820 
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS28,514 12,392 6,133 128,230 133,989 
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments480,907 103,272 — 1,161,675 283,574 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(3,423)(1,062)(718)(109,044)(12,553)
  Net transfers between other subaccounts
    or fixed rate option79,648 44,346 24,939 439,198 93,091 
Miscellaneous transactions(477)113 — 531 380 
  Other charges(264)(131)(130)(7,941)(2,929)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS556,391 146,538 24,091 1,484,419 361,563 
TOTAL INCREASE (DECREASE) IN NET ASSETS584,905 158,930 30,224 1,612,649 495,552 
NET ASSETS
  Beginning of period15,082 64,129 5,086 786,833 350,812 
  End of period$599,987 $223,059 $35,310 $2,399,482 $846,364 
  Beginning units1,184 5,384 432 58,399 25,909 
  Units issued42,605 11,787 2,021 121,995 26,461 
  Units redeemed(2,368)(162)(61)(16,102)(2,353)
  Ending units41,421 17,009 2,392 164,292 50,017 
The accompanying notes are an integral part of these financial statements.
A133


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
MFS® Technology Portfolio (Service Class)MFS® Investors Trust Series (Service Class)MFS® Mid Cap Growth Series (Service Class)MFS® New Discovery Series (Service Class)MFS® Research Series (Service Class)
1/1/20211/1/20211/1/20211/1/20211/1/2021
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$(60,739)$(464)$(31,457)$(14,562)$(929)
  Capital gains distributions received634,300 12,034 1,346,701 530,339 23,106 
  Net realized gain (loss) on shares redeemed224,418 5,509 36,662 33,465 7,024 
  Net change in unrealized appreciation (depreciation) on investments406,155 52,543 (598,853)(611,088)43,915 
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS1,204,134 69,622 753,053 (61,846)73,116 
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments4,142,246 114,069 2,663,464 1,499,219 181,932 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(290,535)(1,642)(113,767)(61,001)(7,195)
  Net transfers between other subaccounts
    or fixed rate option1,093,746 190,099 1,117,703 693,621 (11,204)
Miscellaneous transactions4,432 — 2,884 1,617 (210)
  Other charges(49,064)(1,835)(25,564)(11,527)(1,975)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS4,900,825 300,691 3,644,720 2,121,929 161,348 
TOTAL INCREASE (DECREASE) IN NET ASSETS6,104,959 370,313 4,397,773 2,060,083 234,464 
NET ASSETS
  Beginning of period7,567,746 149,382 3,419,635 1,448,260 259,384 
  End of period$13,672,705 $519,695 $7,817,408 $3,508,343 $493,848 
  Beginning units517,864 11,475 231,293 86,554 19,993 
  Units issued424,891 22,273 272,918 143,334 17,212 
  Units redeemed(113,346)(2,014)(37,354)(22,370)(6,458)
  Ending units829,409 31,734 466,857 207,518 30,747 
The accompanying notes are an integral part of these financial statements.
A134


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
MFS® Total Return Bond Series (Service Class)MFS® Total Return Series (Service Class)MFS® Utilities Series (Service Class)Fidelity® VIP Contrafund® Portfolio (Service Class 2)American Funds IS Asset Allocation Fund (Class 4)
1/1/20211/1/20211/1/20211/1/20211/1/2021
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$195,798 $65,276 $31,221 $(18,013)$192,295 
  Capital gains distributions received740 292,722 107,349 517,324 530,355 
  Net realized gain (loss) on shares redeemed(27,216)51,620 29,836 38,977 129,141 
  Net change in unrealized appreciation (depreciation) on investments(305,862)200,212 245,721 211,870 1,267,454 
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(136,540)609,830 414,127 750,158 2,119,245 
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments3,796,594 1,141,922 1,265,599 2,358,859 11,929,977 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(514,698)(61,000)(85,871)(59,298)(564,423)
  Net transfers between other subaccounts
    or fixed rate option1,042,530 1,479,158 721,920 1,336,864 7,415,837 
Miscellaneous transactions478 (328)163 (531)(4,158)
  Other charges(44,676)(25,299)(13,585)(14,797)(92,361)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS4,280,228 2,534,453 1,888,226 3,621,097 18,684,872 
TOTAL INCREASE (DECREASE) IN NET ASSETS4,143,688 3,144,283 2,302,353 4,371,255 20,804,117 
NET ASSETS
  Beginning of period6,968,142 3,796,395 1,751,723 1,405,786 4,478,798 
  End of period$11,111,830 $6,940,678 $4,054,076 $5,777,041 $25,282,915 
  Beginning units649,092 316,405 144,129 127,950 411,801 
  Units issued631,790 238,987 177,557 330,240 1,867,079 
  Units redeemed(228,188)(44,181)(26,980)(43,582)(242,749)
  Ending units1,052,694 511,211 294,706 414,608 2,036,131 
The accompanying notes are an integral part of these financial statements.
A135


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
American Funds IS Washington Mutual Investors Fund℠ (Class 4)American Funds IS The Bond Fund of America® (Class 4)American Funds IS Capital World Growth and Income Fund® (Class 4)American Funds IS Global Small Capitalization Fund (Class 4)American Funds IS Growth Fund (Class 4)
1/1/20211/1/20211/1/20211/1/20211/1/2021
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$41,664 $45,424 $36,418 $(7,107)$(40,289)
  Capital gains distributions received— 184,142 42,867 29,166 950,104 
  Net realized gain (loss) on shares redeemed20,300 (15,119)5,615 4,755 29,636 
  Net change in unrealized appreciation (depreciation) on investments689,856 (231,961)148,097 (44,377)446,600 
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS751,820 (17,514)232,997 (17,563)1,386,051 
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments2,592,892 1,975,717 2,003,059 1,007,037 6,230,317 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(88,013)(101,358)(24,332)(13,636)(235,787)
  Net transfers between other subaccounts
    or fixed rate option1,569,753 3,276,936 788,215 791,025 3,661,891 
Miscellaneous transactions2,368 (7)445 468 1,719 
  Other charges(14,193)(20,053)(8,856)(5,578)(35,218)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS4,062,807 5,131,235 2,758,531 1,779,316 9,622,922 
TOTAL INCREASE (DECREASE) IN NET ASSETS4,814,627 5,113,721 2,991,528 1,761,753 11,008,973 
NET ASSETS
  Beginning of period939,667 953,044 649,562 290,476 2,248,404 
  End of period$5,754,294 $6,066,765 $3,641,090 $2,052,229 $13,257,377 
  Beginning units84,476 94,062 57,233 23,324 183,639 
  Units issued340,958 564,654 230,139 138,756 762,348 
  Units redeemed(17,654)(52,865)(5,516)(6,399)(51,149)
  Ending units407,780 605,851 281,856 155,681 894,838 
The accompanying notes are an integral part of these financial statements.
A136


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
American Funds IS Growth-Income Fund (Class 4)American Funds IS International Fund (Class 4)American Funds IS New World Fund® (Class 4)BlackRock Advantage Large Cap Core V.I. Fund (Class III)BlackRock Advantage Large Cap Value V.I. Fund (Class III)
1/1/20211/1/20211/1/20211/1/20211/1/2021
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$22,133 $36,049 $5,267 $(13,124)$11,651 
  Capital gains distributions received23,715 — 61,429 1,613,567 198,790 
  Net realized gain (loss) on shares redeemed35,278 (3,101)1,724 14,294 26,318 
  Net change in unrealized appreciation (depreciation) on investments432,276 (107,958)(54,706)(1,048,017)(75,275)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS513,402 (75,010)13,714 566,720 161,484 
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments2,493,768 1,130,497 1,019,499 1,475,688 623,139 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(106,532)(35,594)(48,358)(32,291)(11,166)
  Net transfers between other subaccounts
    or fixed rate option1,287,392 546,842 1,039,963 1,714,394 230,209 
Miscellaneous transactions(2,206)358 950 (1,368)(778)
  Other charges(12,366)(4,997)(8,327)(12,283)(3,600)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS3,660,056 1,637,106 2,003,727 3,144,140 837,804 
TOTAL INCREASE (DECREASE) IN NET ASSETS4,173,458 1,562,096 2,017,441 3,710,860 999,288 
NET ASSETS
  Beginning of period1,054,151 223,850 707,846 382,005 270,232 
  End of period$5,227,609 $1,785,946 $2,725,287 $4,092,865 $1,269,520 
  Beginning units95,286 18,669 59,346 34,015 23,989 
  Units issued327,954 144,163 165,727 270,307 85,741 
  Units redeemed(39,428)(10,484)(5,478)(18,016)(19,945)
  Ending units383,812 152,348 219,595 286,306 89,785 
The accompanying notes are an integral part of these financial statements.
A137


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
BlackRock Basic Value V.I. Fund (Class III)BlackRock Capital Appreciation V.I. Fund (Class III)BlackRock Equity Dividend V.I. Fund (Class III)BlackRock Large Cap Focus Growth V.I. Fund (Class III)Fidelity® VIP Balanced Portfolio (Service Class 2)
1/1/20211/1/20211/1/20211/1/20211/1/2021
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$7,789 $(5,882)$14,164 $(7,047)$37,470 
  Capital gains distributions received156,567 397,389 333,549 289,943 683,852 
  Net realized gain (loss) on shares redeemed9,106 9,198 26,823 31,870 100,477 
  Net change in unrealized appreciation (depreciation) on investments(104,356)(248,324)(126,620)(110,321)862,547 
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS69,106 152,381 247,916 204,445 1,684,346 
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments323,567 1,229,914 631,035 1,356,684 9,980,698 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(15,280)(23,892)(26,082)(26,576)(379,985)
  Net transfers between other subaccounts
    or fixed rate option719,669 669,564 1,333,695 273,915 3,765,310 
Miscellaneous transactions158 (877)626 890 1,050 
  Other charges(3,219)(4,496)(8,558)(5,685)(52,720)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS1,024,895 1,870,213 1,930,716 1,599,228 13,314,353 
TOTAL INCREASE (DECREASE) IN NET ASSETS1,094,001 2,022,594 2,178,632 1,803,673 14,998,699 
NET ASSETS
  Beginning of period22,221 205,866 628,652 317,741 3,796,848 
  End of period$1,116,222 $2,228,460 $2,807,284 $2,121,414 $18,795,547 
  Beginning units1,932 17,747 55,794 27,863 339,947 
  Units issued97,476 163,001 175,616 164,847 1,233,826 
  Units redeemed(18,957)(20,994)(23,073)(33,927)(139,249)
  Ending units80,451 159,754 208,337 158,783 1,434,524 
The accompanying notes are an integral part of these financial statements.
A138


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021

SUBACCOUNTS
Fidelity® VIP Growth Opportunities Portfolio (Service Class 2)Fidelity® VIP Health Care Portfolio (Service Class 2)AST Bond Portfolio 2032PSF Global Portfolio (Class III)PSF Mid-Cap Growth Portfolio (Class III)
1/1/20211/1/20211/4/2021*4/26/2021*4/26/2021*
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$(41,088)$(29,071)$(237,969)$(394)$(592)
  Capital gains distributions received549,612 210,299 — — — 
  Net realized gain (loss) on shares redeemed119,069 1,576 (1,869)28 (20)
  Net change in unrealized appreciation (depreciation) on investments(58,853)285,886 26,989 5,274 (707)
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS568,740 468,690 (212,849)4,908 (1,319)
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments6,132,601 1,889,581 — 148,538 418,339 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(91,241)(291,493)(1,598,425)— (2,466)
  Net transfers between other subaccounts
    or fixed rate option1,737,397 3,475,061 42,205,107 7,329 84,051 
Miscellaneous transactions193 2,312 (1,890)(23)130 
  Other charges(29,820)(24,916)(603)(294)(358)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS7,749,130 5,050,545 40,604,189 155,550 499,696 
TOTAL INCREASE (DECREASE) IN NET ASSETS8,317,870 5,519,235 40,391,340 160,458 498,377 
NET ASSETS
  Beginning of period3,514,166 2,004,572 — — — 
  End of period$11,832,036 $7,523,807 $40,391,340 $160,458 $498,377 
  Beginning units283,959 183,935 — — — 
  Units issued697,858 493,142 5,399,685 15,158 48,975 
  Units redeemed(121,000)-53987(1,046,352)(70)(308)
  Ending units860,817 623,090 4,353,333 15,088 48,667 
*Date subaccount became available for investment.

The accompanying notes are an integral part of these financial statements.
A139


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
PSF Natural Resources Portfolio (Class III)PSF PGIM 50/50 Balanced Portfolio (Class III)PSF PGIM Flexible Managed Portfolio (Class III)PSF PGIM Government Income Portfolio (Class III)PSF PGIM High Yield Bond Portfolio (Class III)
4/26/2021*4/26/2021*4/26/2021*4/26/2021*4/26/2021*
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$(819)$(3,059)$(2,580)$(424)$(6,495)
  Capital gains distributions received— — — — — 
  Net realized gain (loss) on shares redeemed752 192 129 (15)240 
  Net change in unrealized appreciation (depreciation) on investments9,601 59,791 55,681 (2,631)54,183 
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS9,534 56,924 53,230 (3,070)47,928 
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments143,995 1,373,157 1,442,718 118,000 2,699,217 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(5,030)(16,122)(6,032)(2,796)(44,882)
  Net transfers between other subaccounts
    or fixed rate option499,612 417,481 102,377 110,108 1,582,897 
Miscellaneous transactions76 44 11 (190)
  Other charges(639)(2,227)(1,828)(275)(4,732)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS637,941 1,772,365 1,537,279 225,048 4,232,310 
TOTAL INCREASE (DECREASE) IN NET ASSETS647,475 1,829,289 1,590,509 221,978 4,280,238 
NET ASSETS
  Beginning of period— — — — — 
  End of period$647,475 $1,829,289 $1,590,509 $221,978 $4,280,238 
  Beginning units— — — — — 
  Units issued60,825 171,991 148,332 22,836 417,332 
  Units redeemed(1,941)(1,582)(767)(316)(3,834)
  Ending units58,884 170,409 147,565 22,520 413,498 
*Date subaccount became available for investment.









The accompanying notes are an integral part of these financial statements.
A140


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
PSF PGIM Jennison Blend Portfolio (Class III)PSF PGIM Jennison Focused Blend Portfolio (Class III)PSF PGIM Jennison Growth Portfolio (Class III)PSF PGIM Jennison Value Portfolio (Class III)PSF PGIM Total Return Bond Portfolio (Class III)
4/26/2021*4/26/2021*4/26/2021*4/26/2021*4/26/2021*
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$(613)$(597)$(6,700)$(1,032)$(6,753)
  Capital gains distributions received— — — — — 
  Net realized gain (loss) on shares redeemed822 3,274 5,689 518 599 
  Net change in unrealized appreciation (depreciation) on investments8,532 9,226 125,834 33,522 10,977 
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS8,741 11,903 124,823 33,008 4,823 
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments449,496 299,691 3,249,388 700,629 2,576,368 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(19,950)(275)(31,349)(11,504)(109,440)
  Net transfers between other subaccounts
    or fixed rate option15,896 85,951 377,318 52,965 1,449,976 
Miscellaneous transactions33 (1,153)(44)158 
  Other charges(275)(455)(4,352)(677)(5,141)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS445,170 384,945 3,589,852 741,369 3,911,921 
TOTAL INCREASE (DECREASE) IN NET ASSETS453,911 396,848 3,714,675 774,377 3,916,744 
NET ASSETS
  Beginning of period— — — — — 
  End of period$453,911 $396,848 $3,714,675 $774,377 $3,916,744 
  Beginning units— — — — — 
  Units issued43,612 41,081 345,739 71,002 401,420 
  Units redeemed(2,769)(3,946)(9,870)(1,094)(15,518)
  Ending units40,843 37,135 335,869 69,908 385,902 
*Date subaccount became available for investment.








The accompanying notes are an integral part of these financial statements.
A141


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
PSF Small-Cap Stock Index Portfolio (Class III)PSF Stock Index Portfolio (Class III)PSF PGIM Government Income Portfolio (Class I)Fidelity® VIP High Income Portfolio (Initial Class)MFS® Investors Trust Series (Initial Class)
4/26/2021*4/26/2021*1/1/20211/1/20211/1/2021
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$(8,263)$(18,310)$(458)$3,329 $1,014 
  Capital gains distributions received— — — — 11,344 
  Net realized gain (loss) on shares redeemed268 8,140 20 (4)1,187 
  Net change in unrealized appreciation (depreciation) on investments136,518 796,710 (1,981)(2,537)33,422 
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS128,523 786,540 (2,419)788 46,967 
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments4,079,597 9,895,542 176,173 64,616 677,197 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(29,303)(113,752)(2,152)(1,120)(13,270)
  Net transfers between other subaccounts
    or fixed rate option729,596 1,289,878 83,587 36,152 (11,473)
Miscellaneous transactions(458)(1,416)— — 339 
  Other charges(5,222)(11,163)(121)(67)— 
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS4,774,210 11,059,089 257,487 99,581 652,793 
TOTAL INCREASE (DECREASE) IN NET ASSETS4,902,733 11,845,629 255,068 100,369 699,760 
NET ASSETS
  Beginning of period— — — — — 
  End of period$4,902,733 $11,845,629 $255,068 $100,369 $699,760 
  Beginning units— — — — — 
  Units issued475,562 1,059,648 35,620 9,641 55,744 
  Units redeemed(4,031)(22,880)(10,220)(158)(5,513)
  Ending units471,531 1,036,768 25,400 9,483 50,231 
*Date subaccount became available for investment.





The accompanying notes are an integral part of these financial statements.
A142


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
MFS® Utilities Series (Initial Class)MFS® Value Series (Initial Class)Vanguard Capital Growth PortfolioVanguard Diversified Value PortfolioVanguard Equity Income Portfolio
1/1/20211/1/20211/1/20211/1/20211/1/2021
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$988 $6,025 $(976)$(1,552)$(1,367)
  Capital gains distributions received2,234 12,381 3,543 1,708 — 
  Net realized gain (loss) on shares redeemed262 107 2,015 670 
  Net change in unrealized appreciation (depreciation) on investments3,749 75,777 21,593 62,128 28,546 
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS6,972 94,445 24,267 64,299 27,849 
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments45,542 578,683 281,255 480,498 183,860 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(471)(8,975)(268)(2,233)(4,733)
  Net transfers between other subaccounts
    or fixed rate option24,153 170,277 54,886 222,493 224,045 
Miscellaneous transactions— 362 (85)20 
  Other charges(64)(330)(209)(298)(329)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS69,160 740,017 335,665 700,375 402,863 
TOTAL INCREASE (DECREASE) IN NET ASSETS76,132 834,462 359,932 764,674 430,712 
NET ASSETS
  Beginning of period— — — — — 
  End of period$76,132 $834,462 $359,932 $764,674 $430,712 
  Beginning units— — — — — 
  Units issued6,867 66,393 26,398 58,001 36,725 
  Units redeemed(53)(826)(233)(4,145)(2,675)
  Ending units6,814 65,567 26,165 53,856 34,050 





The accompanying notes are an integral part of these financial statements.
A143


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
Vanguard International PortfolioAmerican Funds IS Ultra-Short Bond Fund (Class 1)BlackRock Advantage Large Cap Core V.I. Fund (Class I)BlackRock Large Cap Focus Growth V.I. Fund (Class I)DFA VA Global Moderate Allocation Portfolio
1/1/20211/1/20211/1/20211/1/20211/1/2021
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$(3,437)$(1,161)$2,920 $(792)$15,136 
  Capital gains distributions received3,530 — 106,105 33,611 50,345 
  Net realized gain (loss) on shares redeemed(143)(2)(87)182 137 
  Net change in unrealized appreciation (depreciation) on investments(53,410)(536)(87,321)(727)165 
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS(53,460)(1,699)21,617 32,274 65,783 
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments715,104 154,728 176,169 239,254 1,510,806 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(7,931)(947)(1,323)(758)(29)
  Net transfers between other subaccounts
    or fixed rate option254,767 169,732 75,639 71,241 11,323 
Miscellaneous transactions(42)(1)— — — 
  Other charges(658)(271)(126)(159)(12)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS961,240 323,241 250,359 309,578 1,522,088 
TOTAL INCREASE (DECREASE) IN NET ASSETS907,780 321,542 271,976 341,852 1,587,871 
NET ASSETS
  Beginning of period— — — — — 
  End of period$907,780 $321,542 $271,976 $341,852 $1,587,871 
  Beginning units— — — — — 
  Units issued61,619 32,885 20,662 22,527 127,187 
  Units redeemed(478)(168)(2,080)(246)(4)
  Ending units61,141 32,717 18,582 22,281 127,183 









The accompanying notes are an integral part of these financial statements.
A144


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
DFA VA International Small PortfolioDFA VA International Value PortfolioClearBridge Variable Aggressive Growth Portfolio (Class I)ClearBridge Variable Appreciation Portfolio (Class I)ClearBridge Variable Dividend Strategy Portfolio (Class I)
1/1/20211/1/20211/1/20211/1/20211/1/2021
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$3,123 $9,919 $(5)$142 $3,157 
  Capital gains distributions received10,024 — — 761 22,445 
  Net realized gain (loss) on shares redeemed104 21 517 (7)437 
  Net change in unrealized appreciation (depreciation) on investments(10,142)(8,138)— (544)11,572 
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS3,109 1,802 512 352 37,611 
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments62,267 104,852 — — 383,585 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits(1,717)(2,523)(132)(338)(6,770)
  Net transfers between other subaccounts
    or fixed rate option90,608 169,392 (380)25,895 5,738 
Miscellaneous transactions24 93 — — 82 
  Other charges(166)(169)— — (220)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS151,016 271,645 (512)25,557 382,415 
TOTAL INCREASE (DECREASE) IN NET ASSETS154,125 273,447 — 25,909 420,026 
NET ASSETS
  Beginning of period— — — — — 
  End of period$154,125 $273,447 $— $25,909 $420,026 
  Beginning units— — — — — 
  Units issued12,250 23,023 1,898 1,905 36,037 
  Units redeemed(215)(234)(1,898)(25)(4,573)
  Ending units12,035 22,789 — 1,880 31,464 








The accompanying notes are an integral part of these financial statements.
A145


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNTS
ClearBridge Variable Large Cap Growth Portfolio (Class I)Franklin Multi-Asset Variable Conservative Growth Fund (Class I)Franklin Multi-Asset Variable Growth Fund (Class I)MFS® Technology Portfolio (Initial Class)MFS® Value Series (Service Class)
1/1/20211/1/20211/1/20211/1/202110/1/2021*
tototototo
12/31/202112/31/202112/31/202112/31/202112/31/2021
OPERATIONS
  Net investment income (loss)$(255)$(25)$3,234 $(285)$(132)
  Capital gains distributions received5,969 — 6,928 8,385 — 
  Net realized gain (loss) on shares redeemed182 263 1,228 (63)— 
  Net change in unrealized appreciation (depreciation) on investments4,388 — (4,730)(5,130)1,793 
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS10,284 238 6,660 2,907 1,661 
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments30,000 20,000 113,794 187,474 298,954 
  Annuity payments— — — — — 
  Surrenders, withdrawals and death benefits— (20,074)(30,699)(2,591)— 
  Net transfers between other subaccounts
    or fixed rate option66,782 — (747)138 3,163 
Miscellaneous transactions— (144)— — 
  Other charges(211)(20)(161)(144)— 
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS96,571 (238)82,187 184,885 302,117 
TOTAL INCREASE (DECREASE) IN NET ASSETS106,855 — 88,847 187,792 303,778 
NET ASSETS
  Beginning of period— — — — — 
  End of period$106,855 $— $88,847 $187,792 $303,778 
  Beginning units— — — — — 
  Units issued7,275 1,691 9,166 12,597 19,408 
  Units redeemed(131)(1,691)(2,467)(171)— 
  Ending units7,144 — 6,699 12,426 19,408 
*Date subaccount became available for investment.








The accompanying notes are an integral part of these financial statements.
A146


FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT
STATEMENTS OF CHANGES IN NET ASSETS
For the period ended December 31, 2021
SUBACCOUNT
PSF PGIM Government Money Market Portfolio (Class III)
10/1/2021*
to
12/31/2021
OPERATIONS
  Net investment income (loss)$23 
  Capital gains distributions received— 
  Net realized gain (loss) on shares redeemed— 
  Net change in unrealized appreciation (depreciation) on investments— 
NET INCREASE (DECREASE) IN NET ASSETS
  RESULTING FROM OPERATIONS23 
CONTRACT OWNER TRANSACTIONS
  Contract owner net payments112,082,019 
  Annuity payments— 
  Surrenders, withdrawals and death benefits(149,702)
  Net transfers between other subaccounts
    or fixed rate option(78,164,139)
Miscellaneous transactions
  Other charges— 
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS33,768,179 
TOTAL INCREASE (DECREASE) IN NET ASSETS33,768,202 
NET ASSETS
  Beginning of period— 
  End of period$33,768,202 
  Beginning units— 
  Units issued6,667,175 
  Units redeemed(3,291,860)
  Ending units3,375,315 
*Date subaccount became available for investment.
The accompanying notes are an integral part of these financial statements.
A147

Note 1:    General
NOTES TO FINANCIAL STATEMENTS OF
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT
December 31, 2022

Note 1:    General

Pruco Life Flexible Premium Variable Annuity Account (the “Account”) was established under the laws of the State of Arizona on June 16, 1995 as a separate investment account of Pruco Life Insurance Company (“Pruco Life”), which is a wholly-owned subsidiary of The Prudential Insurance Company of America (“Prudential”). Prudential is a wholly-owned subsidiary of Prudential Financial, Inc. (“Prudential Financial”). Under applicable insurance law, the assets and liabilities of the Account are clearly identified and distinguished from the other assets and liabilities of Pruco Life. Proceeds from purchases of the variable annuity contracts listed below (individually, a “contract” or “product” and collectively, the “contracts” or “products”) are invested in the Account. The portion of the Account’s assets applicable to the contracts is not chargeable with liabilities arising out of any other business Pruco Life may conduct.
Discovery Choice Prudential Premier Variable Annuity
Discovery PreferredB, L, X Series
Discovery SelectPrudential Premier Variable Annuity Bb Series
Prudential Defined Income AnnuityStrategic Partners Advisor
Prudential FlexGuardStrategic Partners FlexElite
Prudential FlexGuard IncomeStrategic Partners FlexElite 2
Prudential MyRock Advisor Variable AnnuityStrategic Partners Plus
Prudential Premier Advisor Variable Annuity SeriesStrategic Partners Plus 3
Prudential Premier Investment Variable Annuity B, C SeriesStrategic Partners Select
Prudential Premier Retirement Variable AnnuityStrategic Partners Variable Annuity One
Prudential Premier Retirement Variable Annuity X, B, L, C SeriesStrategic Partners Variable Annuity One 3

The Account is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended, as a unit investment trust. The Account is a funding vehicle for the contracts. The contracts offer the option to invest in various subaccounts listed below, each of which invests in a corresponding portfolio of either The Prudential Series Fund, the Advanced Series Trust or one of the non-Prudential administered funds (collectively, the “Portfolios”). Investment options vary by contract.

The corresponding subaccount names are as follows:
PSF PGIM Government Money Market Portfolio (Class I)
PSF PGIM Total Return Bond Portfolio (Class I)
PSF PGIM Jennison Blend Portfolio (Class I)
PSF PGIM Flexible Managed Portfolio (Class I)
PSF PGIM 50/50 Balanced Portfolio (Class I)
PSF PGIM Jennison Value Portfolio (Class I)
PSF PGIM High Yield Bond Portfolio (Class I)
PSF Natural Resources Portfolio (Class I)
PSF Stock Index Portfolio (Class I)
PSF Global Portfolio (Class I)
PSF PGIM Jennison Growth Portfolio (Class I)
PSF Small-Cap Stock Index Portfolio (Class I)
T. Rowe Price International Stock Portfolio
T. Rowe Price Equity Income Portfolio (Equity Income Portfolio Class)
Invesco V.I. Core Equity Fund (Series I)
Janus Henderson VIT Research Portfolio (Institutional Shares)
A148


Note 1:    General (continued)
Janus Henderson VIT Overseas Portfolio (Institutional Shares)
MFS® Research Series (Initial Class)
MFS® Growth Series (Initial Class)
American Century VP Value Fund (Class I)
Franklin Small-Mid Cap Growth VIP Fund (Class 2)
PSF PGIM Jennison Focused Blend Portfolio (Class I)
Davis Value Portfolio
AB VPS Large Cap Growth Portfolio (Class B)
PSF Small-Cap Value Portfolio (Class I)
Janus Henderson VIT Research Portfolio (Service Shares)
PSF Mid-Cap Growth Portfolio (Class I)
PSF International Growth Portfolio (Class I)
AST Cohen & Steers Realty Portfolio
AST J.P. Morgan Tactical Preservation Portfolio
AST T. Rowe Price Large-Cap Value Portfolio*
AST High Yield Portfolio
AST Small-Cap Growth Opportunities Portfolio*
AST Small-Cap Value Portfolio
AST Mid-Cap Growth Portfolio
AST Large-Cap Value Portfolio (formerly AST Hotchkis & Wiley Large-Cap Value Portfolio)
AST Loomis Sayles Large-Cap Growth Portfolio*
AST MFS Growth Portfolio*
AST Mid-Cap Value Portfolio
AST BlackRock Low Duration Bond Portfolio*
AST T. Rowe Price Natural Resources Portfolio
AST T. Rowe Price Asset Allocation Portfolio
AST MFS Global Equity Portfolio
AST J.P. Morgan International Equity Portfolio
AST Wellington Management Hedged Equity Portfolio
AST Capital Growth Asset Allocation Portfolio
AST Academic Strategies Asset Allocation Portfolio
AST Balanced Asset Allocation Portfolio
AST Preservation Asset Allocation Portfolio
AST Prudential Growth Allocation Portfolio
AST Advanced Strategies Portfolio
AST Large-Cap Growth Portfolio (formerly AST T. Rowe Price Large-Cap Growth Portfolio)
AST Government Money Market Portfolio
AST Small-Cap Growth Portfolio
AST BlackRock/Loomis Sayles Bond Portfolio*
AST International Value Portfolio
AST International Growth Portfolio
AST Investment Grade Bond Portfolio
AST Core Fixed Income Portfolio (formerly AST Western Asset Core Plus Bond Portfolio)
AST Cohen & Steers Global Realty Portfolio
A149


Note 1:    General (continued)
AST Emerging Markets Equity Portfolio
AST Goldman Sachs Small-Cap Value Portfolio*
AST Moderate Multi-Asset Portfolio (formerly AST AllianzGI World Trends Portfolio)*
AST J.P. Morgan Global Thematic Portfolio
ProFund VP Consumer Services
ProFund VP Consumer Goods
ProFund VP Financials
ProFund VP Health Care
ProFund VP Industrials
ProFund VP Mid-Cap Growth
ProFund VP Mid-Cap Value
ProFund VP Real Estate
ProFund VP Small-Cap Growth
ProFund VP Small-Cap Value
ProFund VP Telecommunications
ProFund VP Utilities
ProFund VP Large-Cap Growth
ProFund VP Large-Cap Value
AST Jennison Large-Cap Growth Portfolio*
Allspring VT International Equity Fund (Class 1)
Allspring VT Omega Growth Fund (Class 1)
Allspring VT Small Cap Growth Fund (Class 1)
AST Bond Portfolio 2022
AST Quantitative Modeling Portfolio
AST BlackRock Global Strategies Portfolio
Allspring VT Opportunity Fund (Class 1)
AST Prudential Core Bond Portfolio*
AST Bond Portfolio 2023
AST MFS Growth Allocation Portfolio
AST Western Asset Emerging Markets Debt Portfolio
AST MFS Large-Cap Value Portfolio*
AST Bond Portfolio 2024
AST ClearBridge Dividend Growth Portfolio
AST Multi-Sector Fixed Income Portfolio
AST Large-Cap Core Portfolio
AST Bond Portfolio 2025
AST T. Rowe Price Growth Opportunities Portfolio
AST T. Rowe Price Diversified Real Growth Portfolio
AST Prudential Flexible Multi-Strategy Portfolio
AST Franklin 85/15 Diversified Allocation Portfolio
AST Bond Portfolio 2026
AST Global Bond Portfolio
AST QMA International Core Equity Portfolio
BlackRock Global Allocation V.I. Fund (Class III)
A150


Note 1:    General (continued)
JPMorgan Insurance Trust Income Builder Portfolio (Class 2)
AST Bond Portfolio 2027
NVIT Emerging Markets Fund (Class D)
AST Bond Portfolio 2028
AST Bond Portfolio 2029
AST American Funds Growth Allocation Portfolio
AST Bond Portfolio 2030
AST BlackRock 80/20 Target Allocation ETF Portfolio
AST BlackRock 60/40 Target Allocation ETF Portfolio
AST Western Asset Corporate Bond Portfolio*
AST T. Rowe Price Corporate Bond Portfolio*
AST PIMCO Corporate Bond Portfolio*
AST Prudential Corporate Bond Portfolio*
AST BlackRock Corporate Bond Portfolio*
AST Bond Portfolio 2031
Fidelity® VIP Contrafund® Portfolio (Initial Class)
Fidelity® VIP Growth Opportunities Portfolio (Initial Class)
Fidelity® VIP Growth Portfolio (Initial Class)
Fidelity® VIP Investment Grade Bond Portfolio (Initial Class)
MFS® New Discovery Series (Initial Class)
MFS® Total Return Series (Initial Class)
MFS® Total Return Bond Series (Initial Class)
Vanguard Equity Index Portfolio
Vanguard Global Bond Index
Vanguard Mid-Cap Index Portfolio
Vanguard Real Estate Index Portfolio
Vanguard Total Bond Market Index Portfolio
Vanguard Total International Stock Market Index Portfolio
Vanguard Total Stock Market Index Portfolio
Vanguard Balanced Portfolio
Vanguard Conservative Allocation Portfolio
Vanguard Growth Portfolio
Vanguard High Yield Bond Portfolio
Vanguard Moderate Allocation Portfolio
Vanguard Short-Term Investment Grade Portfolio
American Funds IS Asset Allocation Fund (Class 1)
American Funds IS Washington Mutual Investors Fund℠ (Class 1)
American Funds IS The Bond Fund of America® (Class 1)
American Funds IS Growth Fund (Class 1)
American Funds IS Growth-Income Fund (Class 1)
American Funds IS U.S. Government Securities Fund® (Class 1)
BlackRock Basic Value V.I. Fund (Class I)
BlackRock Capital Appreciation V.I. Fund (Class I)
BlackRock Equity Dividend V.I. Fund (Class I)
A151


Note 1:    General (continued)
BlackRock Global Allocation V.I. Fund (Class I)
DFA VA Global Bond Portfolio
DFA VA Short-Term Fixed Portfolio
DFA VA U.S. Large Value Portfolio
DFA VA U.S. Targeted Value Portfolio
Fidelity® VIP Balanced Portfolio (Initial Class)
Fidelity® VIP Consumer Discretionary Portfolio (Initial Class)
Fidelity® VIP Disciplined Small Cap Portfolio (Initial Class)
Fidelity® VIP Emerging Markets Portfolio (Initial Class)
Fidelity® VIP Financial Services Portfolio (Initial Class)
Fidelity® VIP Floating Rate High Income Portfolio (Initial Class)
Fidelity® VIP Health Care Portfolio (Initial Class)
Fidelity® VIP Industrials Portfolio (Initial Class)
Fidelity® VIP International Capital Appreciation Portfolio (Initial Class)
Fidelity® VIP Mid Cap Portfolio (Initial Class)
Fidelity® VIP Strategic Income Portfolio (Initial Class)
Fidelity® VIP Technology Portfolio (Initial Class)
Fidelity® VIP Utilities Portfolio (Initial Class)
ClearBridge Variable Mid Cap Portfolio (Class I)
ClearBridge Variable Small Cap Growth Portfolio (Class I)
Western Asset Core Plus VIT Portfolio (Class I)
Western Asset Variable Global High Yield Bond Portfolio (Class I)
MFS® Mid Cap Growth Series (Initial Class)
MFS® International Intrinsic Value Portfolio (Initial Class)
MFS® Massachusetts Investors Growth Stock Portfolio (Initial Class)
MFS® International Growth Portfolio (Service Class)
MFS® Massachusetts Investors Growth Stock Portfolio (Service Class)
MFS® Technology Portfolio (Service Class)
MFS® Investors Trust Series (Service Class)
MFS® Mid Cap Growth Series (Service Class)
MFS® New Discovery Series (Service Class)
MFS® Research Series (Service Class)
MFS® Total Return Bond Series (Service Class)
MFS® Total Return Series (Service Class)
MFS® Utilities Series (Service Class)
Fidelity® VIP Contrafund® Portfolio (Service Class 2)
American Funds IS Asset Allocation Fund (Class 4)
American Funds IS Washington Mutual Investors Fund℠ (Class 4)
American Funds IS The Bond Fund of America® (Class 4)
American Funds IS Capital World Growth and Income Fund® (Class 4)
American Funds IS Global Small Capitalization Fund (Class 4)
American Funds IS Growth Fund (Class 4)
American Funds IS Growth-Income Fund (Class 4)
American Funds IS International Fund (Class 4)
A152


Note 1:    General (continued)
American Funds IS New World Fund® (Class 4)
BlackRock Advantage Large Cap Core V.I. Fund (Class III)
BlackRock Advantage Large Cap Value V.I. Fund (Class III)
BlackRock Basic Value V.I. Fund (Class III)
BlackRock Capital Appreciation V.I. Fund (Class III)
BlackRock Equity Dividend V.I. Fund (Class III)
BlackRock Large Cap Focus Growth V.I. Fund (Class III)
Fidelity® VIP Balanced Portfolio (Service Class 2)
Fidelity® VIP Growth Opportunities Portfolio (Service Class 2)
Fidelity® VIP Health Care Portfolio (Service Class 2)
AST Bond Portfolio 2032
PSF Global Portfolio (Class III)
PSF Mid-Cap Growth Portfolio (Class III)
PSF Natural Resources Portfolio (Class III)
PSF PGIM 50/50 Balanced Portfolio (Class III)
PSF PGIM Flexible Managed Portfolio (Class III)
PSF PGIM Government Income Portfolio (Class III)
PSF PGIM High Yield Bond Portfolio (Class III)
PSF PGIM Jennison Blend Portfolio (Class III)
PSF PGIM Jennison Focused Blend Portfolio (Class III)
PSF PGIM Jennison Growth Portfolio (Class III)
PSF PGIM Jennison Value Portfolio (Class III)
PSF PGIM Total Return Bond Portfolio (Class III)
PSF Small-Cap Stock Index Portfolio (Class III)
PSF Stock Index Portfolio (Class III)
PSF PGIM Government Income Portfolio (Class I)
Fidelity® VIP High Income Portfolio (Initial Class)
MFS® Investors Trust Series (Initial Class)
MFS® Utilities Series (Initial Class)
MFS® Value Series (Initial Class)
Vanguard Capital Growth Portfolio
Vanguard Diversified Value Portfolio
Vanguard Equity Income Portfolio
Vanguard International Portfolio
American Funds IS Ultra-Short Bond Fund (Class 1)
BlackRock Advantage Large Cap Core V.I. Fund (Class I)
BlackRock Large Cap Focus Growth V.I. Fund (Class I)
DFA VA Global Moderate Allocation Portfolio
DFA VA International Small Portfolio
DFA VA International Value Portfolio
ClearBridge Variable Aggressive Growth Portfolio (Class I)**
ClearBridge Variable Appreciation Portfolio (Class I)
ClearBridge Variable Dividend Strategy Portfolio (Class I)
ClearBridge Variable Large Cap Growth Portfolio (Class I)
A153


Note 1:    General (continued)
Franklin Multi-Asset Variable Conservative Growth Fund (Class I)
Franklin Multi-Asset Variable Growth Fund (Class I)
MFS® Technology Portfolio (Initial Class)
MFS® Value Series (Service Class)
PSF PGIM Government Money Market Portfolio (Class III)
AST Bond Portfolio 2033
Franklin Multi-Asset Variable Moderate Growth Fund (Class I)**

*
Subaccount merged during the period ended December 31, 2022.
**
Subaccount was available for investment but had no assets as of December 31, 2022, and had no activity during 2022.

The following table sets forth the dates at which mergers took place in the Account. The transfers from the removed subaccounts to the surviving subaccounts for the period ended December 31, 2022 are reflected in the Statements of Changes in Net Assets as net transfers between subaccounts and purchases and sales in Note 5.
Merger DateRemoved PortfolioSurviving Portfolio
February 11, 2022AST T. Rowe Price Large-Cap Value PortfolioAST Large-Cap Value Portfolio
February 11, 2022AST BlackRock Low Duration Bond PortfolioAST Core Fixed Income Portfolio
February 11, 2022AST BlackRock/Loomis Sayles Bond PortfolioAST Core Fixed Income Portfolio
February 11, 2022AST Prudential Core Bond PortfolioAST Core Fixed Income Portfolio
February 11, 2022AST MFS Large-Cap Value PortfolioAST Large-Cap Value Portfolio
February 11, 2022AST Western Asset Corporate Bond PortfolioPSF PGIM Total Return Bond Portfolio Class I
February 11, 2022AST T. Rowe Price Corporate Bond PortfolioPSF PGIM Total Return Bond Portfolio Class I
February 11, 2022AST PIMCO Corporate Bond PortfolioPSF PGIM Total Return Bond Portfolio Class I
February 11, 2022AST Prudential Corporate Bond PortfolioPSF PGIM Total Return Bond Portfolio Class I
February 11, 2022AST BlackRock Corporate Bond PortfolioPSF PGIM Total Return Bond Portfolio Class I
June 10, 2022AST Goldman Sachs Small-Cap Value PortfolioAST Small-Cap Value Portfolio
June 10, 2022AST Loomis Sayles Large-Cap Growth PortfolioAST Large-Cap Growth Portfolio
June 10, 2022AST MFS Growth PortfolioAST Large-Cap Growth Portfolio
June 10, 2022AST Jennison Large-Cap Growth PortfolioAST Large-Cap Growth Portfolio
September 9, 2022AST Small-Cap Growth Opportunities PortfolioAST Small-Cap Growth Portfolio
December 2, 2022AST Moderate Multi-Asset PortfolioAST Balanced Asset Allocation Portfolio

New sales of certain products which invest in the Account have been discontinued. However, premium payments made by contract owners will continue to be received by the Account, subject to the rules of the products and any optional benefits, if elected.

The Portfolios are open-end management investment companies, and each portfolio of The Prudential Series Fund and the Advanced Series Trust is managed by affiliates of Prudential. Each subaccount of the Account indirectly bears exposure to the market, credit and liquidity risks of the portfolio in which it invests.

Market Disruption, Geopolitical and Market Events Risks

Market disruption can be caused by economic, financial or political events and factors, including but not limited to, international wars or conflicts, geopolitical developments, terrorism, natural disasters and public health epidemics (including the global outbreak of COVID-19). The extent and duration of such events and resulting market disruptions cannot be predicted, but could be substantial and could magnify the impact of risks to the portfolios in which each subaccount invests in.

A154


Note 1:    General (continued)
Recent failures of certain U.S. and international banks and actions taken by government intervention may at times result in unusually high market volatility, which could negatively impact performance of the portfolios in which each subaccount invests in.

COVID-19 has resulted in extreme stress and disruption in the global economy and financial markets. The pandemic has adversely impacted, and may continue to adversely impact, the financial performance of the portfolios in which the subaccounts invest. Management will continue to monitor developments, and their impact on the Account and the fair value of the portfolios.

These financial statements should be read in conjunction with the financial statements and footnotes of the Portfolios. Additional information on these Portfolios is available upon request to the appropriate companies.

Note 2:     Significant Accounting Policies

The Account is an investment company and, accordingly, follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board Accounting Standards Codification Topic 946, Financial Services-Investment Companies, which is part of the generally accepted accounting principles in the United States of America (“GAAP”). The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts and disclosures at the date of the financial statements and the reported amounts of increases and decreases in net assets resulting from operations during the reporting period. Actual results could differ from those estimates. The most significant estimates relate to the valuation of investments in the Portfolios. Subsequent events have been evaluated through the date these financial statements were issued, and no adjustment or disclosure is required in the financial statements.

Investments - The investments in shares of the Portfolios are stated at the reported net asset value per share of the respective Portfolios, which is based on the fair value of the underlying securities in the respective Portfolios. All changes in fair value are recorded as net change in unrealized appreciation (depreciation) on investments in the Statements of Operations of the applicable subaccounts.

Security Transactions - Purchase and sale transactions are recorded as of the trade date of the security being purchased or sold. Realized gains and losses on security transactions are determined based upon the average cost method.

Dividend Income and Distributions Received - Dividend and capital gain distributions received are reinvested in additional shares of the Portfolios and are recorded on the ex-distribution date.

Note 3:    Fair Value Measurements

Fair value represents the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The authoritative fair value guidance establishes a framework for measuring fair value that includes a hierarchy used to classify the inputs used in measuring fair value. The level in the fair value hierarchy within which the fair value measurement falls is determined based on the lowest level input that is significant to the fair value measurement. The levels of the fair value hierarchy are as follows:
Level 1 - Fair value is based on unadjusted quoted prices in active markets for identical assets or liabilities that the Account can access.
Level 2 - Fair value is based on significant inputs, other than Level 1 inputs, that are observable for the investment, either directly or indirectly, for substantially the full term of the investment through corroboration with observable market data. Level 2 inputs include the reported net asset value per share of the underlying portfolio, quoted market prices in active markets for similar investments, quoted market prices in markets that are not active for identical or similar investments, and other market observable inputs.
Level 3 - Fair value is based on at least one significant unobservable input for the investment, which may require significant judgment or estimation in determining the fair value.
A155


Note 3:    Fair Value Measurements (continued)
As of December 31, 2022, management determined that the fair value inputs for all of the Account’s investments, which consist solely of investments in open-end mutual funds registered with the SEC, were considered Level 2.

Note 4:    Taxes

Pruco Life is taxed as a “life insurance company” as defined by the Internal Revenue Code. The results of operations of the Account form a part of Prudential Financial’s consolidated federal tax return. No federal, state or local income taxes are payable by the Account. As such, no provision for tax liability has been recorded in these financial statements. Prudential management will review periodically the status of the policy in the event of changes in the tax law.

Note 5:    Purchases and Sales of Investments

The aggregate costs of purchases and proceeds from sales, excluding distributions received and reinvested, of investments in the Portfolios for the period ended December 31, 2022 were as follows:
PurchasesSales
PSF PGIM Government Money Market Portfolio (Class I)$25,208,823 $30,494,234 
PSF PGIM Total Return Bond Portfolio (Class I)22,645,134 16,420,816 
PSF PGIM Jennison Blend Portfolio (Class I)817,771 21,277,472 
PSF PGIM Flexible Managed Portfolio (Class I)32,000 1,163,443 
PSF PGIM 50/50 Balanced Portfolio (Class I)659,582 2,551,030 
PSF PGIM Jennison Value Portfolio (Class I)1,527,621 30,585,236 
PSF PGIM High Yield Bond Portfolio (Class I)1,941,171 16,448,946 
PSF Natural Resources Portfolio (Class I)663,493 859,822 
PSF Stock Index Portfolio (Class I)8,987,285 56,648,822 
PSF Global Portfolio (Class I)352,735 6,271,093 
PSF PGIM Jennison Growth Portfolio (Class I)4,003,649 32,911,564 
PSF Small-Cap Stock Index Portfolio (Class I)2,867,821 11,142,576 
T. Rowe Price International Stock Portfolio421,801 1,868,445 
T. Rowe Price Equity Income Portfolio (Equity Income Portfolio Class)733,988 8,018,178 
Invesco V.I. Core Equity Fund (Series I)86,407 8,326,704 
Janus Henderson VIT Research Portfolio (Institutional Shares)302,802 6,603,359 
Janus Henderson VIT Overseas Portfolio (Institutional Shares)951,168 5,927,069 
MFS® Research Series (Initial Class)500,639 2,490,734 
MFS® Growth Series (Initial Class)611,112 7,040,613 
American Century VP Value Fund (Class I)2,072,298 3,819,061 
Franklin Small-Mid Cap Growth VIP Fund (Class 2)447,897 1,975,234 
PSF PGIM Jennison Focused Blend Portfolio (Class I)72,908 5,043,571 
Davis Value Portfolio278,830 2,592,993 
AB VPS Large Cap Growth Portfolio (Class B)650,861 1,899,149 
PSF Small-Cap Value Portfolio (Class I)1,025,401 10,143,311 
Janus Henderson VIT Research Portfolio (Service Shares)273,777 1,281,270 
PSF Mid-Cap Growth Portfolio (Class I)2,031,387 11,994,824 
PSF International Growth Portfolio (Class I)1,100,116 4,281,272 
AST Cohen & Steers Realty Portfolio33,474,824 84,177,610 
AST J.P. Morgan Tactical Preservation Portfolio647,511,552 1,559,306,470 
AST T. Rowe Price Large-Cap Value Portfolio3,957,075 763,167,653 
AST High Yield Portfolio25,690,954 77,141,448 
AST Small-Cap Growth Opportunities Portfolio26,521,839 170,402,784 
AST Small-Cap Value Portfolio304,184,129 108,360,980 
A156


Note 5:    Purchases and Sales of Investments (continued)
PurchasesSales
AST Mid-Cap Growth Portfolio$109,964,995 $176,475,729 
AST Large-Cap Value Portfolio1,109,771,931 422,685,905 
AST Loomis Sayles Large-Cap Growth Portfolio18,801,000 364,012,379 
AST MFS Growth Portfolio16,546,500 237,834,771 
AST Mid-Cap Value Portfolio55,281,247 167,656,143 
AST BlackRock Low Duration Bond Portfolio2,247,861 191,132,806 
AST T. Rowe Price Natural Resources Portfolio59,662,493 149,925,007 
AST T. Rowe Price Asset Allocation Portfolio1,546,789,536 3,927,086,046 
AST MFS Global Equity Portfolio42,207,721 116,954,392 
AST J.P. Morgan International Equity Portfolio42,840,536 87,953,168 
AST Wellington Management Hedged Equity Portfolio242,753,079 479,759,823 
AST Capital Growth Asset Allocation Portfolio1,124,697,680 2,645,736,371 
AST Academic Strategies Asset Allocation Portfolio549,235,184 1,408,146,839 
AST Balanced Asset Allocation Portfolio3,297,157,775 1,961,583,915 
AST Preservation Asset Allocation Portfolio659,814,499 1,739,931,447 
AST Prudential Growth Allocation Portfolio2,232,219,327 5,134,572,611 
AST Advanced Strategies Portfolio612,407,175 1,611,847,191 
AST Large-Cap Growth Portfolio1,088,305,442 489,570,875 
AST Government Money Market Portfolio374,776,435 329,601,267 
AST Small-Cap Growth Portfolio198,054,514 126,562,263 
AST BlackRock/Loomis Sayles Bond Portfolio4,189,435 1,544,301,842 
AST International Value Portfolio23,022,089 48,194,608 
AST International Growth Portfolio50,086,201 71,441,463 
AST Investment Grade Bond Portfolio25,237,129,716 15,167,719,279 
AST Core Fixed Income Portfolio2,503,145,655 1,196,872,641 
AST Cohen & Steers Global Realty Portfolio14,329,820 29,835,086 
AST Emerging Markets Equity Portfolio56,998,544 123,320,359 
AST Goldman Sachs Small-Cap Value Portfolio8,620,147 308,503,708 
AST Moderate Multi-Asset Portfolio530,284,164 3,853,302,087 
AST J.P. Morgan Global Thematic Portfolio365,805,074 850,968,387 
ProFund VP Consumer Services169,065 187,094 
ProFund VP Consumer Goods189,043 282,891 
ProFund VP Financials291,835 528,231 
ProFund VP Health Care412,221 1,146,991 
ProFund VP Industrials78,938 124,071 
ProFund VP Mid-Cap Growth169,774 299,268 
ProFund VP Mid-Cap Value108,839 329,023 
ProFund VP Real Estate95,699 200,878 
ProFund VP Small-Cap Growth128,345 214,778 
ProFund VP Small-Cap Value139,723 214,507 
ProFund VP Telecommunications23,382 67,605 
ProFund VP Utilities293,365 255,305 
ProFund VP Large-Cap Growth259,216 804,377 
ProFund VP Large-Cap Value183,204 545,290 
AST Jennison Large-Cap Growth Portfolio28,313,399 330,972,169 
Allspring VT International Equity Fund (Class 1)574 5,067 
Allspring VT Omega Growth Fund (Class 1)30,089 35,321 
Allspring VT Small Cap Growth Fund (Class 1)33,480 109,127 
A157


Note 5:    Purchases and Sales of Investments (continued)
PurchasesSales
AST Bond Portfolio 2022$5,578,202 $59,028,364 
AST Quantitative Modeling Portfolio21,791,288 184,507,847 
AST BlackRock Global Strategies Portfolio296,442,961 658,031,903 
Allspring VT Opportunity Fund (Class 1)2,616 334,578 
AST Prudential Core Bond Portfolio2,243,757 422,981,562 
AST Bond Portfolio 202360,429,200 7,571,707 
AST MFS Growth Allocation Portfolio278,979,467 500,964,126 
AST Western Asset Emerging Markets Debt Portfolio3,288,926 3,734,896 
AST MFS Large-Cap Value Portfolio1,560,157 248,688,985 
AST Bond Portfolio 20243,636,674 1,923,130 
AST ClearBridge Dividend Growth Portfolio48,822,610 70,030,577 
AST Multi-Sector Fixed Income Portfolio39,415,438 1,292,250,161 
AST Large-Cap Core Portfolio34,462,674 86,350,355 
AST Bond Portfolio 20253,139,015 1,847,761 
AST T. Rowe Price Growth Opportunities Portfolio1,357,500,630 2,384,945,587 
AST T. Rowe Price Diversified Real Growth Portfolio4,157,377 21,483,715 
AST Prudential Flexible Multi-Strategy Portfolio1,371,678 13,858,408 
AST Franklin 85/15 Diversified Allocation Portfolio229,611,968 397,667,351 
AST Bond Portfolio 20266,049,631 5,025,062 
AST Global Bond Portfolio26,200,878 57,196,179 
AST QMA International Core Equity Portfolio410,703 1,226,101 
BlackRock Global Allocation V.I. Fund (Class III)3,933,430 7,736,446 
JPMorgan Insurance Trust Income Builder Portfolio (Class 2)1,367,240 3,551,563 
AST Bond Portfolio 20274,726,318 4,765,323 
NVIT Emerging Markets Fund (Class D)225,571 487,958 
AST Bond Portfolio 202816,110,339 7,465,345 
AST Bond Portfolio 20294,390,669 2,152,856 
AST American Funds Growth Allocation Portfolio817,498,416 1,431,420,893 
AST Bond Portfolio 20306,367,181 6,023,412 
AST BlackRock 80/20 Target Allocation ETF Portfolio197,023,859 339,091,088 
AST BlackRock 60/40 Target Allocation ETF Portfolio111,225,015 201,871,875 
AST Western Asset Corporate Bond Portfolio228 3,289,884 
AST T. Rowe Price Corporate Bond Portfolio207 2,846,701 
AST PIMCO Corporate Bond Portfolio31,209 4,528,107 
AST Prudential Corporate Bond Portfolio14,438 6,234,030 
AST BlackRock Corporate Bond Portfolio9,212 3,851,211 
AST Bond Portfolio 203137,360,965 21,806,652 
Fidelity® VIP Contrafund® Portfolio (Initial Class)523,206 390,093 
Fidelity® VIP Growth Opportunities Portfolio (Initial Class)258,913 111,857 
Fidelity® VIP Growth Portfolio (Initial Class)545,670 50,675 
Fidelity® VIP Investment Grade Bond Portfolio (Initial Class)37,106 137,549 
MFS® New Discovery Series (Initial Class)21,158 15,931 
MFS® Total Return Series (Initial Class)120,113 96,149 
MFS® Total Return Bond Series (Initial Class)1,330,753 44,614 
Vanguard Equity Index Portfolio556,726 163,872 
Vanguard Global Bond Index54,834 190,915 
Vanguard Mid-Cap Index Portfolio1,248,088 973,539 
Vanguard Real Estate Index Portfolio381,161 263,205 
A158


Note 5:    Purchases and Sales of Investments (continued)
PurchasesSales
Vanguard Total Bond Market Index Portfolio$457,150 $151,334 
Vanguard Total International Stock Market Index Portfolio1,040,327 457,651 
Vanguard Total Stock Market Index Portfolio1,202,977 360,325 
Vanguard Balanced Portfolio451,363 328,263 
Vanguard Conservative Allocation Portfolio27,516 16,376 
Vanguard Growth Portfolio119,738 24,893 
Vanguard High Yield Bond Portfolio239,361 183,323 
Vanguard Moderate Allocation Portfolio1,306,658 269,983 
Vanguard Short-Term Investment Grade Portfolio2,220,625 1,061,215 
American Funds IS Asset Allocation Fund (Class 1)655,806 198,056 
American Funds IS Washington Mutual Investors Fund℠ (Class 1)467,919 196,515 
American Funds IS The Bond Fund of America® (Class 1)361,554 40,570 
American Funds IS Growth Fund (Class 1)636,215 704,055 
American Funds IS Growth-Income Fund (Class 1)654,338 306,102 
American Funds IS U.S. Government Securities Fund® (Class 1)291,536 28,299 
BlackRock Basic Value V.I. Fund (Class I)172,197 110,963 
BlackRock Capital Appreciation V.I. Fund (Class I)493,696 23,380 
BlackRock Equity Dividend V.I. Fund (Class I)159,092 370,688 
BlackRock Global Allocation V.I. Fund (Class I)801,771 327,554 
DFA VA Global Bond Portfolio77,446 81,446 
DFA VA Short-Term Fixed Portfolio313,066 206,740 
DFA VA U.S. Large Value Portfolio1,417,772 485,818 
DFA VA U.S. Targeted Value Portfolio1,028,016 330,158 
Fidelity® VIP Balanced Portfolio (Initial Class)337,972 1,247,400 
Fidelity® VIP Consumer Discretionary Portfolio (Initial Class)394,442 32,551 
Fidelity® VIP Disciplined Small Cap Portfolio (Initial Class)370,541 66,426 
Fidelity® VIP Emerging Markets Portfolio (Initial Class)470,492 126,340 
Fidelity® VIP Financial Services Portfolio (Initial Class)403,723 21,781 
Fidelity® VIP Floating Rate High Income Portfolio (Initial Class)1,602,843 672,025 
Fidelity® VIP Health Care Portfolio (Initial Class)429,915 38,386 
Fidelity® VIP Industrials Portfolio (Initial Class)388,177 5,909 
Fidelity® VIP International Capital Appreciation Portfolio (Initial Class)506,119 116,208 
Fidelity® VIP Mid Cap Portfolio (Initial Class)525,290 71,423 
Fidelity® VIP Strategic Income Portfolio (Initial Class)829,535 32,026 
Fidelity® VIP Technology Portfolio (Initial Class)525,477 28,436 
Fidelity® VIP Utilities Portfolio (Initial Class)196,755 49,391 
ClearBridge Variable Mid Cap Portfolio (Class I)165,537 56,539 
ClearBridge Variable Small Cap Growth Portfolio (Class I)196,928 107,275 
Western Asset Core Plus VIT Portfolio (Class I)162,596 72,150 
Western Asset Variable Global High Yield Bond Portfolio (Class I)1,056 11,398 
MFS® Mid Cap Growth Series (Initial Class)568,664 379,542 
MFS® International Intrinsic Value Portfolio (Initial Class)271,307 98,818 
MFS® Massachusetts Investors Growth Stock Portfolio (Initial Class)88,250 46,850 
MFS® International Growth Portfolio (Service Class)2,785,591 296,899 
MFS® Massachusetts Investors Growth Stock Portfolio (Service Class)1,042,059 401,974 
MFS® Technology Portfolio (Service Class)3,528,281 1,530,944 
MFS® Investors Trust Series (Service Class)146,277 175,732 
MFS® Mid Cap Growth Series (Service Class)2,152,745 1,015,583 
A159


Note 5:    Purchases and Sales of Investments (continued)
PurchasesSales
MFS® New Discovery Series (Service Class)$720,811 $473,928 
MFS® Research Series (Service Class)212,522 126,871 
MFS® Total Return Bond Series (Service Class)12,054,203 3,097,142 
MFS® Total Return Series (Service Class)14,003,173 1,986,395 
MFS® Utilities Series (Service Class)5,754,900 1,589,718 
Fidelity® VIP Contrafund® Portfolio (Service Class 2)3,997,140 1,308,931 
American Funds IS Asset Allocation Fund (Class 4)6,366,631 5,408,902 
American Funds IS Washington Mutual Investors Fund℠ (Class 4)3,598,963 617,063 
American Funds IS The Bond Fund of America® (Class 4)4,600,664 1,855,164 
American Funds IS Capital World Growth and Income Fund® (Class 4)1,818,810 554,762 
American Funds IS Global Small Capitalization Fund (Class 4)454,297 202,028 
American Funds IS Growth Fund (Class 4)7,034,415 1,489,797 
American Funds IS Growth-Income Fund (Class 4)2,457,078 1,247,365 
American Funds IS International Fund (Class 4)1,090,043 373,483 
American Funds IS New World Fund® (Class 4)1,251,736 392,730 
BlackRock Advantage Large Cap Core V.I. Fund (Class III)1,275,812 438,116 
BlackRock Advantage Large Cap Value V.I. Fund (Class III)2,310,007 354,525 
BlackRock Basic Value V.I. Fund (Class III)1,657,835 472,194 
BlackRock Capital Appreciation V.I. Fund (Class III)617,880 382,040 
BlackRock Equity Dividend V.I. Fund (Class III)2,400,907 1,049,520 
BlackRock Large Cap Focus Growth V.I. Fund (Class III)964,930 213,632 
Fidelity® VIP Balanced Portfolio (Service Class 2)9,702,239 4,560,438 
Fidelity® VIP Growth Opportunities Portfolio (Service Class 2)4,516,173 1,490,706 
Fidelity® VIP Health Care Portfolio (Service Class 2)3,219,614 1,101,246 
AST Bond Portfolio 203250,260,022 26,083,469 
PSF Global Portfolio (Class III)533,486 34,137 
PSF Mid-Cap Growth Portfolio (Class III)652,031 126,702 
PSF Natural Resources Portfolio (Class III)5,374,044 1,429,998 
PSF PGIM 50/50 Balanced Portfolio (Class III)4,536,765 851,749 
PSF PGIM Flexible Managed Portfolio (Class III)1,729,557 219,389 
PSF PGIM Government Income Portfolio (Class III)2,535,044 1,156,369 
PSF PGIM High Yield Bond Portfolio (Class III)4,403,539 1,212,620 
PSF PGIM Jennison Blend Portfolio (Class III)392,141 41,186 
PSF PGIM Jennison Focused Blend Portfolio (Class III)124,205 49,768 
PSF PGIM Jennison Growth Portfolio (Class III)2,921,286 452,883 
PSF PGIM Jennison Value Portfolio (Class III)1,313,244 205,089 
PSF PGIM Total Return Bond Portfolio (Class III)4,153,374 1,049,931 
PSF Small-Cap Stock Index Portfolio (Class III)3,838,435 544,004 
PSF Stock Index Portfolio (Class III)11,546,464 1,263,506 
PSF PGIM Government Income Portfolio (Class I)195,798 17,450 
Fidelity® VIP High Income Portfolio (Initial Class)421,910 421,226 
MFS® Investors Trust Series (Initial Class)57,674 101,122 
MFS® Utilities Series (Initial Class)309,911 22,529 
MFS® Value Series (Initial Class)107,530 193,032 
Vanguard Capital Growth Portfolio144,730 177,573 
Vanguard Diversified Value Portfolio810,332 114,731 
Vanguard Equity Income Portfolio530,032 103,200 
Vanguard International Portfolio404,043 109,130 
A160


Note 5:    Purchases and Sales of Investments (continued)
PurchasesSales
American Funds IS Ultra-Short Bond Fund (Class 1)$1,038,429 $106,540 
BlackRock Advantage Large Cap Core V.I. Fund (Class I)299,745 98,224 
BlackRock Large Cap Focus Growth V.I. Fund (Class I)639,215 96,316 
DFA VA Global Moderate Allocation Portfolio539,722 180,861 
DFA VA International Small Portfolio300,015 45,539 
DFA VA International Value Portfolio287,832 246,327 
ClearBridge Variable Aggressive Growth Portfolio (Class I)— — 
ClearBridge Variable Appreciation Portfolio (Class I)54,199 25,652 
ClearBridge Variable Dividend Strategy Portfolio (Class I)554,226 178,086 
ClearBridge Variable Large Cap Growth Portfolio (Class I)3,080 718 
Franklin Multi-Asset Variable Conservative Growth Fund (Class I)22,792 188 
Franklin Multi-Asset Variable Growth Fund (Class I)738 1,107 
MFS® Technology Portfolio (Initial Class)361,631 7,658 
MFS® Value Series (Service Class)13507570877,179 
PSF PGIM Government Money Market Portfolio (Class III)224,484,808 140,960,659 
AST Bond Portfolio 2033618,833 357,247 

Note 6:    Related Party Transactions

The Account has extensive transactions and relationships with Prudential and other affiliates. Due to these relationships, it is possible that the terms of these transactions are not the same as those that would result from transactions among wholly unrelated parties. Prudential Financial and its affiliates perform various services on behalf of the portfolios of The Prudential Series Fund and the Advanced Series Trust in which the Account invests and may receive fees for the services performed. These services include, among other things, investment management, subadvisory, shareholder communications, postage, transfer agency and various other record keeping, administrative and customer service functions.

The Prudential Series Fund has entered into a management agreement with PGIM Investments LLC ("PGIM Investments"), and the Advanced Series Trust has entered into a management agreement with PGIM Investments and AST Investment Services, Inc., both indirect, wholly-owned subsidiaries of Prudential Financial (together, the “Investment Managers”). Pursuant to these agreements, the Investment Managers have responsibility for all investment advisory services and supervise the subadvisers’ performance of such services with respect to each portfolio of The Prudential Series Fund and the Advanced Series Trust. The Investment Managers have entered into subadvisory agreements with several subadvisers, including PGIM, Inc., PGIM Limited, Jennison Associates LLC, and PGIM Quantitative Solutions LLC, each of which are indirect, wholly-owned subsidiaries of Prudential Financial.

The Prudential Series Fund has a distribution agreement with Prudential Investment Management Services LLC (“PIMS”), an indirect, wholly-owned subsidiary of Prudential Financial, which acts as the distributor of the Class I and Class II shares of the portfolios of The Prudential Series Fund. No distribution or service (12b-1) fees are paid to PIMS as distributor of the Class I shares of the portfolios of The Prudential Series Fund, which is the class of shares owned by the Account.

The Advanced Series Trust has a distribution agreement with Prudential Annuities Distributors, Inc. (“PAD”), an indirect, wholly-owned subsidiary of Prudential Financial, which acts as the distributor of the shares of each portfolio of the Advanced Series Trust. Distribution and service fees are paid to PAD by most portfolios of the Advanced Series Trust.

Prudential Mutual Fund Services LLC, an affiliate of the Investment Managers and an indirect, wholly-owned subsidiary of Prudential Financial, serves as the transfer agent of each portfolio of The Prudential Series Fund and the Advanced Series Trust.

A161


Note 6:    Related Party Transactions (continued)
Certain charges and fees of the portfolios of The Prudential Series Fund and the Advanced Series Trust may be waived and/or reimbursed by Prudential and its affiliates. Prudential and its affiliates reserve the right to discontinue these waivers/reimbursements at its discretion, subject to the contractual obligations of Prudential and its affiliates.

See The Prudential Series Fund and the Advanced Series Trust financial statements for further discussion of such expense and waiver/reimbursement arrangements. The Account indirectly bears the expenses of the underlying portfolios of The Prudential Series Fund and the Advanced Series Trust in which it invests, including the related party expenses disclosed above.


Note 7:    Financial Highlights

Pruco Life sells a number of variable annuity products that are funded through the Account. These products have unique combinations of features and fees that are charged against the contract owner’s account balance. Differences in the fee structures result in a variety of unit values, expense ratios and total returns.

In the table below, the units, the net assets, the investment income ratio, and the ranges of lowest to highest unit values, expense ratios, and total returns are presented for the products offered by Pruco Life and funded through the Account. Only product designs within each subaccount that had units outstanding during the respective periods were considered when determining the ranges. The summary may not reflect the minimum and maximum contract charges as contract owners may not have selected all available contract options offered by Pruco Life.
A162


Note 7:    Financial Highlights (continued)
At the year endedFor the year ended
Units
(000s)
Unit Value
Lowest — Highest
Net
Assets
(000s)
Investment
Income
Ratio*
Expense Ratio**
Lowest — Highest
Total Return***
Lowest — Highest
PSF PGIM Government Money Market Portfolio (Class I)
December 31, 202256,003 $0.85 to$10.15 $72,769 1.35 %0.25 %to2.00 %-0.62 %to1.13 %
December 31, 202159,499 $0.86 to$10.03 $77,044 0.04 %0.25 %to2.00 %-1.98 %to-0.21 %
December 31, 202063,611 $0.87 to$10.05 $75,655 0.29 %0.25 %to2.00 %-1.71 %to0.05 %
December 31, 201962,646 $0.89 to$9.84 $71,589 1.91 %1.00 %to2.00 %-0.11 %to0.91 %
December 31, 201868,162 $0.89 to$9.75 $77,267 1.51 %1.00 %to2.00 %-0.44 %to0.52 %
PSF PGIM Total Return Bond Portfolio (Class I)
December 31, 202229,547 $2.09 to$8.81 $89,169 0.00 %0.25 %to1.65 %-16.19 %to-13.58 %
December 31, 202132,077 $2.50 to$10.37 $99,491 0.00 %0.25 %to1.65 %-2.37 %to-1.01 %
December 31, 202035,328 $2.56 to$10.45 $111,321 0.00 %0.50 %to1.65 %4.20 %to7.01 %
December 31, 201940,889 $2.40 to$2.95 $120,445 0.00 %1.35 %to1.65 %9.10 %to9.42 %
December 31, 201845,953 $2.20 to$2.70 $123,735 0.00 %1.35 %to1.65 %-1.78 %to-1.49 %
PSF PGIM Jennison Blend Portfolio (Class I)
December 31, 202223,627 $2.99 to$10.93 $114,633 0.00 %0.35 %to2.00 %-26.57 %to-25.36 %
December 31, 202127,054 $4.06 to$14.65 $178,083 0.00 %0.35 %to2.00 %18.00 %to19.93 %
December 31, 202031,434 $3.43 to$12.22 $173,977 0.00 %0.35 %to2.00 %26.47 %to27.28 %
December 31, 201937,340 $2.70 to$4.70 $161,984 0.00 %1.35 %to2.00 %26.36 %to27.17 %
December 31, 201842,506 $2.13 to$3.70 $145,112 0.00 %1.35 %to2.00 %-6.73 %to-6.13 %
PSF PGIM Flexible Managed Portfolio (Class I)
December 31, 20221,766 $3.94 to$10.62 $7,019 0.00 %0.40 %to1.40 %-15.88 %to-15.04 %
December 31, 20212,012 $4.68 to$12.50 $9,478 0.00 %0.40 %to1.40 %15.74 %to16.89 %
December 31, 20202,239 $4.04 to$4.04 $9,057 0.00 %1.40 %to1.40 %8.07 %to8.07 %
December 31, 20192,618 $3.74 to$3.74 $9,799 0.00 %1.40 %to1.40 %18.21 %to18.21 %
December 31, 20182,932 $3.17 to$3.17 $9,283 0.00 %1.40 %to1.40 %-5.52 %to-5.52 %
PSF PGIM 50/50 Balanced Portfolio (Class I)
December 31, 20222,063 $3.47 to$10.36 $7,609 0.00 %0.40 %to1.40 %-15.87 %to-15.04 %
December 31, 20212,619 $4.13 to$12.19 $11,001 0.00 %0.40 %to1.40 %11.81 %to12.92 %
December 31, 20202,977 $3.69 to$10.79 $11,081 0.00 %0.50 %to1.40 %9.74 %to9.89 %
December 31, 20193,375 $3.36 to$3.36 $11,341 0.00 %1.40 %to1.40 %16.85 %to16.85 %
December 31, 20183,926 $2.88 to$2.88 $11,290 0.00 %1.40 %to1.40 %-3.82 %to-3.82 %
PSF PGIM Jennison Value Portfolio (Class I)
December 31, 202233,400 $2.88 to$12.06 $146,744 0.00 %0.25 %to2.00 %-9.70 %to-8.12 %
December 31, 202139,451 $3.18 to$13.12 $190,554 0.00 %0.25 %to2.00 %25.29 %to27.47 %
December 31, 202046,148 $2.54 to$10.29 $176,782 0.00 %0.35 %to2.00 %1.55 %to6.02 %
December 31, 201953,910 $2.50 to$5.13 $201,569 0.00 %1.35 %to2.00 %23.59 %to24.38 %
December 31, 201861,203 $2.02 to$4.13 $184,022 0.00 %1.35 %to2.00 %-11.66 %to-11.09 %
PSF PGIM High Yield Bond Portfolio (Class I)
December 31, 202214,956 $2.64 to$18.83 $80,619 0.00 %0.25 %to2.00 %-12.98 %to-11.47 %
December 31, 202117,136 $3.02 to$21.51 $106,644 0.00 %0.40 %to2.00 %5.81 %to7.50 %
December 31, 202019,359 $2.85 to$20.21 $112,672 0.00 %0.40 %to2.00 %5.01 %to6.56 %
December 31, 201922,359 $2.70 to$19.13 $123,608 0.00 %1.35 %to2.00 %14.05 %to14.78 %
December 31, 201825,233 $2.36 to$16.68 $121,953 2.92 %1.35 %to2.00 %-3.21 %to-2.58 %
PSF Natural Resources Portfolio (Class I)
December 31, 2022411 $7.70 to$17.68 $3,825 0.00 %0.25 %to1.40 %20.36 %to21.74 %
December 31, 2021449 $6.40 to$14.52 $3,312 0.00 %0.25 %to1.40 %23.77 %to25.19 %
December 31, 2020491 $5.17 to$11.59 $2,772 0.00 %0.35 %to1.40 %10.73 %to21.00 %
December 31, 2019500 $4.67 to$4.67 $2,335 0.00 %1.40 %to1.40 %9.16 %to9.16 %
December 31, 2018567 $4.28 to$4.28 $2,428 0.00 %1.40 %to1.40 %-19.21 %to-19.21 %
PSF Stock Index Portfolio (Class I)
December 31, 202248,606 $2.64 to$15.02 $348,014 0.00 %0.25 %to2.00 %-19.94 %to-18.54 %
December 31, 202154,884 $3.29 to$18.49 $480,947 0.00 %0.35 %to2.00 %25.77 %to27.83 %
December 31, 202063,156 $2.60 to$14.49 $418,550 0.00 %0.35 %to2.00 %15.76 %to17.66 %
December 31, 201966,893 $2.24 to$12.34 $334,880 0.00 %0.35 %to2.00 %8.05 %to30.35 %
December 31, 201872,392 $1.74 to$9.47 $255,597 0.00 %0.55 %to2.00 %-6.50 %to-4.55 %
A163


Note 7:    Financial Highlights (continued)
At the year endedFor the year ended
Units
(000s)
Unit Value
Lowest — Highest
Net
Assets
(000s)
Investment
Income
Ratio*
Expense Ratio**
Lowest — Highest
Total Return***
Lowest — Highest
PSF Global Portfolio (Class I)
December 31, 202210,017 $1.83 to$10.82 $36,493 0.00 %0.40 %to2.00 %-20.39 %to-19.12 %
December 31, 202111,460 $2.29 to$13.38 $51,891 0.00 %0.40 %to2.00 %15.91 %to17.75 %
December 31, 202013,540 $1.97 to$4.41 $52,146 0.00 %1.35 %to2.00 %13.56 %to14.29 %
December 31, 201915,990 $1.73 to$3.86 $53,522 0.00 %1.35 %to2.00 %27.84 %to28.66 %
December 31, 201817,863 $1.35 to$3.00 $46,310 0.00 %1.35 %to2.00 %-9.14 %to-8.55 %
PSF PGIM Jennison Growth Portfolio (Class I)
December 31, 202234,683 $2.37 to$10.16 $203,877 0.00 %0.25 %to2.00 %-38.82 %to-37.76 %
December 31, 202138,460 $3.86 to$16.32 $366,145 0.00 %0.25 %to2.00 %13.73 %to15.72 %
December 31, 202044,193 $3.39 to$14.08 $367,736 0.00 %0.50 %to2.00 %46.86 %to54.12 %
December 31, 201954,683 $2.20 to$6.56 $292,761 0.00 %1.35 %to2.00 %30.73 %to31.57 %
December 31, 201862,606 $1.68 to$4.99 $254,461 0.00 %1.35 %to2.00 %-2.73 %to-2.11 %
PSF Small-Cap Stock Index Portfolio (Class I)
December 31, 20226,560 $5.55 to$12.46 $57,835 0.00 %0.25 %to1.95 %-18.00 %to-16.58 %
December 31, 20217,400 $6.75 to$14.98 $78,688 0.00 %0.25 %to1.95 %23.88 %to26.02 %
December 31, 20208,149 $5.43 to$11.93 $67,814 0.00 %0.35 %to1.95 %8.83 %to15.11 %
December 31, 20198,817 $4.97 to$10.80 $64,099 0.00 %0.35 %to1.95 %4.55 %to21.75 %
December 31, 20189,177 $4.13 to$8.87 $52,737 0.00 %0.55 %to1.95 %-11.28 %to-9.95 %
T. Rowe Price International Stock Portfolio
December 31, 20225,771 $1.43 to$2.01 $11,441 0.75 %1.35 %to1.65 %-17.18 %to-16.93 %
December 31, 20216,394 $1.73 to$2.42 $15,280 0.55 %1.35 %to1.65 %-0.33 %to-0.03 %
December 31, 20207,401 $1.74 to$2.43 $17,760 0.56 %1.35 %to1.65 %12.59 %to12.93 %
December 31, 20198,321 $1.54 to$2.15 $17,711 2.34 %1.35 %to1.65 %25.69 %to26.07 %
December 31, 20189,118 $1.23 to$1.71 $15,414 1.28 %1.35 %to1.65 %-15.61 %to-15.36 %
T. Rowe Price Equity Income Portfolio (Equity Income Portfolio Class)
December 31, 20227,927 $3.32 to$5.28 $41,775 1.84 %1.35 %to1.65 %-4.91 %to-4.63 %
December 31, 20219,163 $3.49 to$5.54 $50,667 1.55 %1.35 %to1.65 %23.51 %to23.88 %
December 31, 202010,587 $2.82 to$4.48 $47,263 2.32 %1.35 %to1.65 %-0.46 %to-0.17 %
December 31, 201912,151 $2.84 to$4.48 $54,376 2.29 %1.35 %to1.65 %24.35 %to24.71 %
December 31, 201814,040 $2.28 to$3.60 $50,313 1.97 %1.35 %to1.65 %-10.98 %to-10.71 %
Invesco V.I. Core Equity Fund (Series I)
December 31, 202211,898 $1.98 to$3.87 $45,050 0.89 %1.35 %to1.65 %-21.83 %to-21.60 %
December 31, 202113,691 $2.53 to$4.94 $66,311 0.65 %1.35 %to1.65 %25.67 %to26.04 %
December 31, 202015,938 $2.02 to$3.92 $61,367 1.31 %1.35 %to1.65 %12.00 %to12.33 %
December 31, 201918,482 $1.80 to$3.49 $63,440 0.93 %1.35 %to1.65 %26.87 %to27.25 %
December 31, 201821,230 $1.42 to$2.75 $57,041 0.88 %1.35 %to1.65 %-10.88 %to-10.61 %
Janus Henderson VIT Research Portfolio (Institutional Shares)
December 31, 20228,516 $2.14 to$4.57 $38,149 0.70 %1.35 %to1.65 %-31.02 %to-30.82 %
December 31, 20219,624 $3.10 to$6.61 $62,448 0.10 %1.35 %to1.65 %18.38 %to18.73 %
December 31, 202010,970 $2.62 to$5.57 $60,007 0.53 %1.35 %to1.65 %30.80 %to31.18 %
December 31, 201912,904 $2.00 to$4.25 $53,895 0.45 %1.35 %to1.65 %33.33 %to33.72 %
December 31, 201814,982 $1.50 to$3.18 $46,478 0.54 %1.35 %to1.65 %-4.17 %to-3.88 %
Janus Henderson VIT Overseas Portfolio (Institutional Shares)
December 31, 20229,200 $2.36 to$4.37 $39,793 1.74 %1.35 %to1.65 %-10.09 %to-9.82 %
December 31, 202110,243 $2.62 to$4.85 $49,176 1.12 %1.35 %to1.65 %11.74 %to12.07 %
December 31, 202011,790 $2.35 to$4.33 $50,513 1.35 %1.35 %to1.65 %14.41 %to14.75 %
December 31, 201913,412 $2.05 to$3.78 $50,130 1.89 %1.35 %to1.65 %24.96 %to25.33 %
December 31, 201815,253 $1.64 to$3.02 $45,259 1.73 %1.35 %to1.65 %-16.33 %to-16.09 %
MFS® Research Series (Initial Class)
December 31, 20222,521 $2.96 to$11.46 $12,614 0.48 %0.25 %to1.65 %-18.55 %to-17.42 %
December 31, 20212,909 $3.64 to$13.83 $17,534 0.53 %0.40 %to1.65 %22.78 %to24.30 %
December 31, 20203,265 $2.96 to$4.91 $15,961 0.71 %1.35 %to1.65 %14.70 %to15.04 %
December 31, 20193,984 $2.58 to$4.27 $16,946 0.78 %1.35 %to1.65 %30.79 %to31.18 %
December 31, 20184,671 $1.98 to$3.26 $15,159 0.69 %1.35 %to1.65 %-5.93 %to-5.65 %
A164


Note 7:    Financial Highlights (continued)
At the year endedFor the year ended
Units
(000s)
Unit Value
Lowest — Highest
Net
Assets
(000s)
Investment
Income
Ratio*
Expense Ratio**
Lowest — Highest
Total Return***
Lowest — Highest
MFS® Growth Series (Initial Class)
December 31, 20228,572 $2.97 to$10.25 $48,558 0.00 %0.25 %to1.65 %-32.74 %to-31.80 %
December 31, 20219,407 $4.41 to$15.03 $79,185 0.00 %0.25 %to1.65 %21.53 %to23.22 %
December 31, 202010,743 $3.63 to$6.92 $74,028 0.00 %1.35 %to1.65 %29.72 %to30.10 %
December 31, 201912,438 $2.80 to$5.32 $65,895 0.00 %1.35 %to1.65 %35.91 %to36.31 %
December 31, 201814,096 $2.06 to$3.91 $54,733 0.09 %1.35 %to1.65 %0.99 %to1.29 %
American Century VP Value Fund (Class I)
December 31, 20223,454 $4.28 to$5.33 $18,313 2.07 %1.35 %to1.65 %-1.09 %to-0.79 %
December 31, 20213,743 $4.33 to$5.38 $20,001 1.72 %1.35 %to1.65 %22.49 %to22.85 %
December 31, 20204,347 $3.53 to$4.38 $18,931 2.28 %1.35 %to1.65 %-0.66 %to-0.37 %
December 31, 20195,157 $3.56 to$4.40 $22,558 2.11 %1.35 %to1.65 %24.97 %to25.34 %
December 31, 20185,697 $2.85 to$3.51 $19,901 1.63 %1.35 %to1.65 %-10.63 %to-10.37 %
Franklin Small-Mid Cap Growth VIP Fund (Class 2)
December 31, 20223,689 $2.44 to$4.34 $15,438 0.00 %1.35 %to1.65 %-34.77 %to-34.57 %
December 31, 20213,959 $3.74 to$6.64 $25,439 0.00 %1.35 %to1.65 %8.23 %to8.55 %
December 31, 20204,762 $3.46 to$6.12 $28,341 0.00 %1.35 %to1.65 %52.58 %to53.03 %
December 31, 20195,769 $2.27 to$4.00 $22,472 0.00 %1.35 %to1.65 %29.30 %to29.68 %
December 31, 20186,616 $1.75 to$3.09 $19,925 0.00 %1.35 %to1.65 %-6.92 %to-6.64 %
PSF PGIM Jennison Focused Blend Portfolio (Class I)
December 31, 20226,175 $3.93 to$10.50 $26,518 0.00 %0.40 %to1.65 %-26.97 %to-26.06 %
December 31, 20217,159 $5.38 to$14.20 $41,977 0.00 %0.40 %to1.65 %14.94 %to16.37 %
December 31, 20208,380 $4.68 to$5.08 $42,559 0.00 %1.35 %to1.65 %28.80 %to29.18 %
December 31, 201910,237 $3.63 to$3.94 $40,233 0.00 %1.35 %to1.65 %26.83 %to27.21 %
December 31, 201811,616 $2.87 to$3.09 $35,914 0.00 %1.35 %to1.65 %-6.90 %to-6.62 %
Davis Value Portfolio
December 31, 20225,919 $2.24 to$2.39 $13,971 1.21 %1.35 %to1.65 %-21.43 %to-21.19 %
December 31, 20216,752 $2.85 to$3.04 $20,236 0.56 %1.35 %to1.65 %15.94 %to16.28 %
December 31, 20207,837 $2.46 to$2.61 $20,215 0.68 %1.35 %to1.65 %9.91 %to10.23 %
December 31, 20199,411 $2.23 to$2.37 $22,038 1.53 %1.35 %to1.65 %29.04 %to29.42 %
December 31, 201810,765 $1.73 to$1.83 $19,489 0.81 %1.35 %to1.65 %-15.02 %to-14.76 %
AB VPS Large Cap Growth Portfolio (Class B)
December 31, 20222,925 $2.23 to$2.38 $6,874 0.00 %1.35 %to1.65 %-29.84 %to-29.64 %
December 31, 20213,333 $3.17 to$3.39 $11,136 0.00 %1.35 %to1.65 %26.57 %to26.93 %
December 31, 20203,771 $2.51 to$2.67 $9,931 0.00 %1.35 %to1.65 %32.95 %to33.35 %
December 31, 20194,604 $1.89 to$2.00 $9,102 0.00 %1.35 %to1.65 %32.18 %to32.57 %
December 31, 20185,260 $1.43 to$1.51 $7,847 0.00 %1.35 %to1.65 %0.65 %to0.95 %
PSF Small-Cap Value Portfolio (Class I)
December 31, 202213,895 $2.87 to$11.12 $50,718 0.00 %0.25 %to2.00 %-16.32 %to-14.86 %
December 31, 202116,062 $3.43 to$13.07 $69,461 0.00 %0.25 %to2.00 %23.98 %to26.14 %
December 31, 202019,333 $2.76 to$10.34 $67,045 0.00 %0.40 %to2.00 %-0.10 %to6.65 %
December 31, 201921,777 $2.76 to$3.79 $75,215 0.00 %1.35 %to2.00 %20.37 %to21.15 %
December 31, 201824,057 $2.29 to$3.13 $68,759 0.00 %1.35 %to2.00 %-15.49 %to-14.95 %
Janus Henderson VIT Research Portfolio (Service Shares)
December 31, 20222,439 $1.72 to$3.98 $6,651 0.56 %1.40 %to2.00 %-31.43 %to-31.03 %
December 31, 20212,700 $2.51 to$5.77 $10,776 0.02 %1.40 %to2.00 %17.69 %to18.39 %
December 31, 20203,104 $2.12 to$4.87 $10,649 0.35 %1.40 %to2.00 %29.98 %to30.75 %
December 31, 20193,816 $1.63 to$3.73 $10,042 0.30 %1.40 %to2.00 %32.57 %to33.36 %
December 31, 20184,362 $1.22 to$2.79 $8,623 0.36 %1.40 %to2.00 %-4.75 %to-4.19 %
PSF Mid-Cap Growth Portfolio (Class I)
December 31, 202213,946 $2.89 to$10.97 $65,861 0.00 %0.25 %to2.00 %-28.39 %to-27.14 %
December 31, 202115,674 $4.03 to$15.05 $102,930 0.00 %0.25 %to2.00 %8.52 %to10.42 %
December 31, 202018,627 $3.70 to$13.62 $112,875 0.00 %0.40 %to2.00 %40.63 %to45.51 %
December 31, 201923,411 $2.55 to$5.80 $97,759 0.00 %1.35 %to2.00 %35.01 %to35.88 %
December 31, 201827,121 $1.89 to$4.27 $83,325 0.00 %1.35 %to2.00 %-9.66 %to-9.08 %
A165


Note 7:    Financial Highlights (continued)
At the year endedFor the year ended
Units
(000s)
Unit Value
Lowest — Highest
Net
Assets
(000s)
Investment
Income
Ratio*
Expense Ratio**
Lowest — Highest
Total Return***
Lowest — Highest
PSF International Growth Portfolio (Class I)
December 31, 20228,586 $1.19 to$3.05 $18,394 0.00 %1.40 %to2.00 %-30.33 %to-29.91 %
December 31, 20219,782 $1.71 to$4.35 $30,144 0.00 %1.40 %to2.00 %10.27 %to10.93 %
December 31, 202011,417 $1.54 to$3.92 $32,180 0.00 %1.40 %to2.00 %29.52 %to30.29 %
December 31, 201913,518 $1.19 to$3.01 $29,335 0.00 %1.40 %to2.00 %29.79 %to30.56 %
December 31, 201815,124 $0.91 to$2.30 $25,293 0.00 %1.40 %to2.00 %-14.53 %to-14.02 %
AST Cohen & Steers Realty Portfolio
December 31, 20226,865 $10.38 to$36.50 $154,142 0.00 %0.35 %to2.95 %-27.50 %to-25.62 %
December 31, 20218,615 $14.00 to$49.85 $266,661 0.00 %0.35 %to2.95 %38.76 %to42.35 %
December 31, 202010,060 $9.87 to$35.58 $223,300 0.00 %0.35 %to3.25 %-6.00 %to-3.18 %
December 31, 201910,352 $10.22 to$37.33 $243,120 0.00 %0.35 %to3.25 %1.14 %to30.49 %
December 31, 201810,466 $10.86 to$29.01 $191,487 0.00 %0.55 %to3.25 %-7.87 %to-5.28 %
AST J.P. Morgan Tactical Preservation Portfolio
December 31, 2022137,608 $10.86 to$17.09 $1,944,153 0.00 %0.35 %to2.95 %-18.14 %to-16.02 %
December 31, 2021197,465 $12.93 to$20.56 $3,368,963 0.00 %0.35 %to2.95 %4.85 %to7.57 %
December 31, 202087,356 $12.02 to$19.31 $1,414,008 0.00 %0.35 %to3.25 %7.73 %to10.96 %
December 31, 201996,113 $10.84 to$17.59 $1,414,259 0.00 %0.35 %to3.25 %8.30 %to13.98 %
December 31, 201895,363 $11.52 to$15.56 $1,245,804 0.00 %0.55 %to3.25 %-8.23 %to-5.65 %
AST T. Rowe Price Large-Cap Value Portfolio (merged February 11, 2022)
December 31, 2022— $13.50 to$29.94 $— 0.00 %0.35 %to2.95 %0.47 %to0.77 %
December 31, 202133,756 $13.40 to$29.76 $753,094 0.00 %0.35 %to2.95 %21.95 %to25.10 %
December 31, 202040,083 $10.75 to$24.17 $722,108 0.00 %0.35 %to3.25 %-1.23 %to1.73 %
December 31, 201940,565 $10.60 to$24.14 $726,342 0.00 %0.35 %to3.25 %6.16 %to25.28 %
December 31, 20188,217 $10.15 to$19.53 $119,811 0.00 %0.55 %to3.25 %-12.66 %to-10.21 %
AST High Yield Portfolio
December 31, 202210,177 $9.70 to$18.65 $148,100 0.00 %0.35 %to2.95 %-14.05 %to-11.82 %
December 31, 202113,344 $11.03 to$21.49 $223,789 0.00 %0.35 %to2.95 %3.29 %to5.96 %
December 31, 202013,874 $10.44 to$20.60 $222,486 0.00 %0.35 %to3.25 %-0.70 %to2.28 %
December 31, 201913,888 $10.24 to$20.46 $223,392 0.00 %0.35 %to3.25 %2.23 %to14.66 %
December 31, 201812,898 $11.29 to$18.09 $183,296 0.00 %0.55 %to3.25 %-5.19 %to-2.53 %
AST Small-Cap Growth Opportunities Portfolio (merged September 9, 2022)
December 31, 2022— $10.70 to$35.20 $— 0.00 %0.35 %to2.95 %-26.61 %to-25.29 %
December 31, 20215,883 $14.35 to$47.64 $193,098 0.00 %0.35 %to2.95 %-4.18 %to-1.69 %
December 31, 20206,330 $14.64 to$49.23 $214,364 0.00 %0.35 %to2.95 %31.31 %to34.71 %
December 31, 20197,452 $10.90 to$37.13 $193,371 0.00 %0.48 %to3.25 %8.73 %to35.73 %
December 31, 20187,551 $10.82 to$27.73 $146,258 0.00 %0.55 %to3.25 %-13.76 %to-11.34 %
AST Small-Cap Value Portfolio
December 31, 202214,001 $11.78 to$31.50 $310,497 0.00 %0.35 %to2.95 %-15.80 %to-13.63 %
December 31, 20215,401 $13.64 to$37.05 $143,175 0.00 %0.35 %to2.95 %27.75 %to31.06 %
December 31, 20206,132 $10.41 to$28.72 $126,028 0.00 %0.35 %to3.25 %-2.42 %to0.51 %
December 31, 20196,037 $10.35 to$29.03 $126,086 0.00 %0.35 %to3.25 %3.90 %to21.31 %
December 31, 20185,875 $11.20 to$24.26 $101,852 0.00 %0.55 %to3.25 %-19.79 %to-17.53 %
AST Mid-Cap Growth Portfolio
December 31, 202216,691 $10.48 to$33.60 $399,145 0.00 %0.35 %to2.95 %-32.91 %to-31.17 %
December 31, 202119,031 $15.27 to$49.60 $676,221 0.00 %0.35 %to2.95 %7.32 %to10.10 %
December 31, 202021,152 $13.91 to$45.77 $694,961 0.00 %0.35 %to3.25 %30.46 %to34.37 %
December 31, 201924,558 $10.39 to$34.61 $614,786 0.00 %0.35 %to3.25 %3.60 %to29.44 %
December 31, 201825,757 $11.84 to$27.11 $503,319 0.00 %0.55 %to3.25 %-7.48 %to-4.88 %
AST Large-Cap Value Portfolio
December 31, 202240,856 $13.79 to$38.58 $1,131,727 0.00 %0.35 %to2.70 %-1.04 %to1.35 %
December 31, 202117,212 $13.65 to$38.67 $480,280 0.00 %0.35 %to2.95 %25.51 %to28.76 %
December 31, 202020,701 $10.63 to$30.51 $456,871 0.00 %0.35 %to2.95 %-2.60 %to-0.08 %
December 31, 201920,480 $10.67 to$31.02 $458,129 0.00 %0.35 %to3.25 %6.16 %to28.81 %
December 31, 201821,289 $11.60 to$24.42 $371,822 0.00 %0.55 %to3.25 %-16.96 %to-14.63 %
A166


Note 7:    Financial Highlights (continued)
At the year endedFor the year ended
Units
(000s)
Unit Value
Lowest — Highest
Net
Assets
(000s)
Investment
Income
Ratio*
Expense Ratio**
Lowest — Highest
Total Return***
Lowest — Highest
AST Loomis Sayles Large-Cap Growth Portfolio (merged June 10, 2022)
December 31, 2022— $11.93 to$44.95 $— 0.00 %0.35 %to2.95 %-28.55 %to-27.74 %
December 31, 202110,312 $16.54 to$62.65 $471,788 0.00 %0.35 %to2.95 %14.97 %to17.94 %
December 31, 202011,729 $14.06 to$53.96 $463,953 0.00 %0.35 %to3.25 %27.32 %to31.13 %
December 31, 201914,351 $10.76 to$41.81 $443,267 0.00 %0.35 %to3.25 %8.21 %to30.91 %
December 31, 201815,298 $14.30 to$32.38 $365,724 0.00 %0.55 %to3.25 %-5.87 %to-3.23 %
AST MFS Growth Portfolio (merged June 10, 2022)
December 31, 2022— $12.19 to$43.37 $— 0.00 %0.35 %to2.95 %-29.11 %to-28.30 %
December 31, 20217,013 $17.02 to$60.91 $306,874 0.00 %0.35 %to2.95 %19.85 %to22.95 %
December 31, 20207,886 $13.89 to$50.33 $293,573 0.00 %0.35 %to2.95 %26.74 %to30.02 %
December 31, 20197,964 $10.72 to$39.33 $241,787 0.00 %0.48 %to3.25 %7.58 %to37.02 %
December 31, 20187,728 $13.95 to$29.10 $176,703 0.00 %0.55 %to3.25 %-1.19 %to1.59 %
AST Mid-Cap Value Portfolio
December 31, 202213,157 $12.31 to$37.97 $325,023 0.00 %0.35 %to2.95 %-10.41 %to-8.09 %
December 31, 202117,183 $13.39 to$41.97 $475,240 0.00 %0.35 %to2.95 %29.81 %to33.16 %
December 31, 202016,157 $10.06 to$32.02 $340,471 0.00 %0.35 %to3.25 %-4.98 %to-2.13 %
December 31, 201915,686 $10.28 to$33.24 $344,588 0.00 %0.35 %to3.25 %2.85 %to20.35 %
December 31, 201814,849 $10.61 to$28.00 $275,012 0.00 %0.55 %to3.25 %-19.17 %to-16.90 %
AST BlackRock Low Duration Bond Portfolio (merged February 11, 2022)
December 31, 2022— $8.50 to$12.21 $— 0.00 %0.35 %to2.70 %-1.82 %to-1.55 %
December 31, 202118,363 $8.66 to$12.41 $191,717 0.00 %0.35 %to2.95 %-3.45 %to-0.95 %
December 31, 202019,290 $8.42 to$12.63 $203,814 0.00 %0.35 %to3.25 %-0.77 %to2.20 %
December 31, 201917,476 $8.49 to$12.46 $181,540 0.00 %0.35 %to3.25 %0.70 %to4.05 %
December 31, 201815,418 $8.38 to$12.05 $154,769 0.00 %0.55 %to3.25 %-2.55 %to0.19 %
AST T. Rowe Price Natural Resources Portfolio
December 31, 202212,220 $10.63 to$17.60 $158,784 0.00 %0.35 %to2.95 %3.05 %to5.72 %
December 31, 202119,538 $10.11 to$16.82 $240,334 0.00 %0.35 %to2.95 %20.25 %to23.36 %
December 31, 202023,647 $8.04 to$13.78 $236,498 0.00 %0.35 %to3.25 %-5.40 %to-2.56 %
December 31, 201922,956 $8.49 to$14.29 $236,498 0.00 %0.48 %to3.25 %4.54 %to16.22 %
December 31, 201820,119 $7.33 to$12.40 $180,098 0.00 %0.55 %to3.25 %-19.38 %to-17.11 %
AST T. Rowe Price Asset Allocation Portfolio
December 31, 2022542,542 $11.69 to$22.71 $9,924,177 0.00 %0.35 %to2.95 %-18.74 %to-16.64 %
December 31, 2021663,851 $14.02 to$27.68 $14,698,825 0.00 %0.35 %to2.95 %9.19 %to12.02 %
December 31, 2020574,902 $12.52 to$25.10 $11,461,948 0.00 %0.35 %to3.25 %8.88 %to12.14 %
December 31, 2019633,579 $11.16 to$22.74 $11,362,924 0.00 %0.35 %to3.25 %11.44 %to20.18 %
December 31, 2018650,405 $12.92 to$19.18 $9,844,073 0.00 %0.55 %to3.25 %-8.42 %to-5.85 %
AST MFS Global Equity Portfolio
December 31, 202212,927 $11.30 to$30.93 $295,683 0.00 %0.35 %to2.95 %-20.31 %to-18.25 %
December 31, 202115,828 $13.87 to$38.43 $451,075 0.00 %0.35 %to2.95 %13.50 %to16.44 %
December 31, 202017,709 $11.95 to$33.53 $440,204 0.00 %0.35 %to3.25 %10.47 %to13.78 %
December 31, 201919,444 $10.53 to$29.94 $432,853 0.00 %0.35 %to3.25 %6.47 %to29.24 %
December 31, 201820,366 $11.72 to$23.49 $354,584 0.00 %0.55 %to3.25 %-12.51 %to-10.05 %
AST J.P. Morgan International Equity Portfolio
December 31, 202210,001 $11.42 to$18.31 $139,708 0.00 %0.35 %to2.95 %-22.62 %to-20.61 %
December 31, 202113,167 $14.38 to$23.43 $234,586 0.00 %0.35 %to2.95 %7.89 %to10.69 %
December 31, 202014,571 $12.99 to$21.51 $235,886 0.00 %0.35 %to3.25 %9.41 %to12.68 %
December 31, 201915,796 $11.53 to$19.39 $228,162 0.00 %0.35 %to3.25 %14.87 %to26.52 %
December 31, 201815,994 $9.51 to$15.54 $184,020 0.00 %0.55 %to3.25 %-20.17 %to-17.92 %
AST Wellington Management Hedged Equity Portfolio
December 31, 202269,132 $12.12 to$23.59 $1,118,026 0.00 %0.35 %to2.95 %-10.33 %to-8.01 %
December 31, 202183,619 $13.17 to$26.05 $1,481,617 0.00 %0.35 %to2.95 %8.85 %to11.66 %
December 31, 202092,867 $11.80 to$23.70 $1,483,962 0.00 %0.35 %to3.25 %3.19 %to6.29 %
December 31, 2019103,044 $11.10 to$22.66 $1,562,700 0.00 %0.35 %to3.25 %11.12 %to19.89 %
December 31, 2018102,640 $11.18 to$19.16 $1,310,263 0.00 %0.55 %to3.25 %-8.10 %to-5.52 %
A167


Note 7:    Financial Highlights (continued)
At the year endedFor the year ended
Units
(000s)
Unit Value
Lowest — Highest
Net
Assets
(000s)
Investment
Income
Ratio*
Expense Ratio**
Lowest — Highest
Total Return***
Lowest — Highest
AST Capital Growth Asset Allocation Portfolio
December 31, 2022347,065 $12.14 to$25.34 $6,865,097 0.00 %0.35 %to2.95 %-19.28 %to-17.19 %
December 31, 2021419,222 $14.67 to$31.09 $10,091,464 0.00 %0.35 %to2.95 %13.63 %to16.57 %
December 31, 2020462,883 $12.58 to$27.09 $9,641,762 0.00 %0.35 %to3.25 %9.73 %to13.02 %
December 31, 2019502,215 $11.13 to$24.35 $9,349,469 0.00 %0.35 %to3.25 %11.09 %to21.58 %
December 31, 2018498,529 $13.51 to$20.31 $7,745,029 0.00 %0.55 %to3.25 %-9.28 %to-6.74 %
AST Academic Strategies Asset Allocation Portfolio
December 31, 2022108,587 $10.80 to$16.70 $1,480,246 0.00 %0.35 %to2.95 %-15.92 %to-13.75 %
December 31, 2021166,410 $12.53 to$19.67 $2,675,668 0.00 %0.35 %to2.95 %9.22 %to12.05 %
December 31, 2020185,426 $11.18 to$17.83 $2,680,163 0.00 %0.35 %to3.25 %0.83 %to3.85 %
December 31, 2019199,719 $10.76 to$17.44 $2,798,739 0.00 %0.35 %to3.25 %7.65 %to15.42 %
December 31, 2018186,564 $10.57 to$15.32 $2,281,769 0.00 %0.55 %to3.25 %-11.14 %to-8.64 %
AST Balanced Asset Allocation Portfolio
December 31, 2022444,810 $11.53 to$21.58 $7,796,818 0.00 %0.35 %to2.95 %-18.66 %to-16.55 %
December 31, 2021367,938 $13.82 to$26.27 $7,812,318 0.00 %0.35 %to2.95 %9.61 %to12.45 %
December 31, 2020406,939 $12.29 to$23.74 $7,752,708 0.00 %0.35 %to3.25 %8.14 %to11.38 %
December 31, 2019445,608 $11.03 to$21.65 $7,699,602 0.00 %0.35 %to3.25 %10.20 %to18.76 %
December 31, 2018454,582 $12.98 to$18.48 $6,701,812 0.00 %0.55 %to3.25 %-8.04 %to-5.46 %
AST Preservation Asset Allocation Portfolio
December 31, 2022167,992 $10.51 to$16.52 $2,379,361 0.00 %0.35 %to2.95 %-18.04 %to-15.92 %
December 31, 2021239,414 $12.51 to$19.81 $4,073,050 0.00 %0.35 %to2.95 %3.20 %to5.87 %
December 31, 2020272,149 $11.81 to$18.93 $4,402,595 0.00 %0.35 %to3.25 %5.54 %to8.70 %
December 31, 2019287,724 $10.87 to$17.70 $4,326,551 0.00 %0.35 %to3.25 %8.60 %to14.11 %
December 31, 2018292,347 $11.72 to$15.72 $3,901,018 0.00 %0.55 %to3.25 %-6.02 %to-3.38 %
AST Prudential Growth Allocation Portfolio
December 31, 2022448,827 $10.87 to$21.53 $7,777,840 0.00 %0.35 %to2.95 %-20.64 %to-18.58 %
December 31, 2021606,990 $13.35 to$26.87 $13,036,419 0.00 %0.35 %to2.95 %13.36 %to16.29 %
December 31, 2020677,603 $11.48 to$23.47 $12,604,378 0.00 %0.35 %to3.25 %2.42 %to5.49 %
December 31, 2019747,873 $10.88 to$22.61 $13,282,205 0.00 %0.35 %to3.25 %8.75 %to18.52 %
December 31, 2018735,149 $11.77 to$19.34 $11,139,504 0.00 %0.55 %to3.25 %-10.62 %to-8.11 %
AST Advanced Strategies Portfolio
December 31, 2022233,125 $11.66 to$23.52 $4,342,414 0.00 %0.35 %to2.95 %-19.01 %to-16.91 %
December 31, 2021282,766 $14.03 to$28.76 $6,388,506 0.00 %0.35 %to2.95 %10.57 %to13.43 %
December 31, 2020320,430 $12.37 to$25.76 $6,421,615 0.00 %0.35 %to3.25 %7.08 %to10.29 %
December 31, 2019355,641 $11.21 to$23.73 $6,516,238 0.00 %0.35 %to3.25 %11.97 %to21.19 %
December 31, 2018369,894 $13.04 to$19.85 $5,670,025 0.00 %0.55 %to3.25 %-8.96 %to-6.41 %
AST Large-Cap Growth Portfolio
December 31, 202242,169 $11.52 to$48.39 $1,386,610 0.00 %0.35 %to2.95 %-35.12 %to-33.44 %
December 31, 202123,701 $17.36 to$73.86 $1,225,164 0.00 %0.35 %to2.95 %13.76 %to16.70 %
December 31, 202026,177 $14.92 to$64.30 $1,198,109 0.00 %0.35 %to3.25 %35.27 %to39.32 %
December 31, 201929,332 $10.74 to$46.89 $1,011,442 0.00 %0.35 %to3.25 %7.75 %to27.52 %
December 31, 201829,238 $15.05 to$37.28 $806,817 0.00 %0.55 %to3.25 %0.47 %to3.29 %
AST Government Money Market Portfolio
December 31, 202241,470 $7.06 to$10.15 $383,307 1.27 %0.35 %to2.95 %-1.67 %to0.87 %
December 31, 202136,208 $7.15 to$10.06 $333,433 0.00 %(1)0.35 %to3.10 %-3.10 %to-0.36 %(1)
December 31, 202042,575 $7.37 to$10.10 $394,114 0.15 %0.35 %to3.10 %-2.89 %to-0.13 %
December 31, 201925,141 $7.48 to$10.11 $231,233 1.67 %0.35 %to3.25 %-1.61 %to1.13 %
December 31, 201823,879 $7.60 to$9.92 $218,732 1.30 %0.55 %to3.25 %-2.01 %to0.74 %
AST Small-Cap Growth Portfolio
December 31, 202211,002 $11.44 to$40.77 $303,447 0.00 %0.35 %to2.95 %-29.65 %to-27.83 %
December 31, 20218,474 $15.89 to$57.39 $334,669 0.00 %0.35 %to2.95 %1.54 %to4.17 %
December 31, 20209,192 $15.31 to$55.97 $357,295 0.00 %0.35 %to3.25 %43.57 %to47.87 %
December 31, 201910,768 $10.38 to$38.45 $291,501 0.00 %0.35 %to3.25 %3.62 %to29.40 %
December 31, 201810,535 $11.94 to$30.13 $223,149 0.00 %0.55 %to3.25 %-11.40 %to-8.91 %
A168


Note 7:    Financial Highlights (continued)
At the year endedFor the year ended
Units
(000s)
Unit Value
Lowest — Highest
Net
Assets
(000s)
Investment
Income
Ratio*
Expense Ratio**
Lowest — Highest
Total Return***
Lowest — Highest
AST BlackRock/Loomis Sayles Bond Portfolio (merged February 11, 2022)
December 31, 2022— $10.26 to$15.83 $— 0.00 %0.35 %to2.95 %-3.56 %to-3.28 %
December 31, 2021124,129 $10.61 to$16.38 $1,591,057 0.00 %0.35 %to2.95 %-3.97 %to-1.48 %
December 31, 2020124,642 $10.54 to$16.76 $1,628,565 0.00 %0.35 %to3.25 %3.88 %to6.99 %
December 31, 2019126,833 $10.13 to$15.79 $1,556,275 0.00 %0.35 %to3.25 %0.97 %to8.62 %
December 31, 2018124,403 $9.60 to$14.62 $1,411,077 0.00 %0.55 %to3.25 %-3.91 %to-1.21 %
AST International Value Portfolio
December 31, 20228,049 $9.44 to$15.54 $95,002 0.00 %0.35 %to2.70 %-12.53 %to-10.42 %
December 31, 202110,045 $10.71 to$17.63 $134,431 0.00 %0.35 %to2.95 %4.56 %to7.26 %
December 31, 202010,617 $10.15 to$16.69 $133,174 0.00 %0.35 %to3.25 %-3.84 %to-0.95 %
December 31, 201910,845 $10.41 to$17.12 $138,312 0.00 %0.35 %to3.25 %7.85 %to19.36 %
December 31, 201810,563 $8.85 to$14.54 $112,783 0.00 %0.55 %to3.25 %-18.88 %to-16.60 %
AST International Growth Portfolio
December 31, 202212,468 $11.24 to$22.62 $208,400 0.00 %0.35 %to2.95 %-30.73 %to-28.93 %
December 31, 202113,568 $15.87 to$32.34 $324,901 0.00 %0.35 %to2.95 %9.28 %to12.11 %
December 31, 202014,820 $14.20 to$29.31 $319,509 0.00 %0.35 %to3.25 %27.06 %to30.86 %
December 31, 201917,070 $10.89 to$22.75 $284,222 0.00 %0.35 %to3.25 %10.22 %to31.38 %
December 31, 201818,472 $10.07 to$17.56 $234,931 0.00 %0.55 %to3.25 %-16.16 %to-13.81 %
AST Investment Grade Bond Portfolio
December 31, 2022860,830 $10.26 to$17.78 $10,864,615 0.00 %0.35 %to2.35 %-15.79 %to-14.12 %
December 31, 202158,908 $12.14 to$20.82 $965,064 0.00 %0.55 %to2.65 %-4.76 %to-2.71 %
December 31, 202067,533 $12.60 to$21.49 $1,150,344 0.00 %0.35 %to2.65 %13.38 %to16.06 %
December 31, 201997,350 $11.08 to$18.62 $1,430,638 0.00 %0.55 %to2.65 %8.28 %to10.62 %
December 31, 2018571,595 $10.16 to$16.90 $7,019,502 0.00 %0.55 %to2.65 %-2.92 %to-0.82 %
AST Core Fixed Income Portfolio
December 31, 2022191,998 $8.70 to$13.12 $2,225,902 0.00 %0.35 %to2.95 %-18.68 %to-13.18 %
December 31, 202196,332 $10.73 to$15.82 $1,362,294 0.00 %0.35 %to2.95 %-5.04 %to-2.58 %
December 31, 202094,750 $11.05 to$16.34 $1,381,144 0.00 %0.35 %to3.25 %4.60 %to7.73 %
December 31, 201997,267 $10.29 to$15.26 $1,323,031 0.00 %0.35 %to3.25 %2.43 %to11.68 %
December 31, 201896,820 $10.55 to$13.71 $1,185,539 0.00 %0.55 %to3.25 %-5.46 %to-2.80 %
AST Cohen & Steers Global Realty Portfolio
December 31, 20222,725 $9.37 to$22.85 $42,666 0.00 %0.35 %to2.95 %-27.57 %to-25.70 %
December 31, 20213,491 $12.65 to$31.25 $75,510 0.00 %0.35 %to2.95 %23.26 %to26.45 %
December 31, 20204,067 $10.03 to$25.10 $70,617 0.00 %0.35 %to3.25 %-6.10 %to-3.28 %
December 31, 20193,976 $10.41 to$26.37 $72,741 0.00 %0.35 %to3.25 %3.77 %to24.44 %
December 31, 20183,864 $10.44 to$21.49 $57,715 0.00 %0.55 %to3.25 %-7.82 %to-5.24 %
AST Emerging Markets Equity Portfolio
December 31, 202216,587 $6.62 to$11.90 $138,938 0.00 %0.35 %to2.70 %-23.83 %to-21.99 %
December 31, 202123,598 $8.68 to$15.50 $254,682 0.00 %0.35 %to2.95 %-2.68 %to-0.16 %
December 31, 202024,148 $8.89 to$15.77 $262,116 0.00 %0.35 %to3.25 %0.68 %to3.70 %
December 31, 201920,056 $8.77 to$15.45 $209,425 0.00 %0.35 %to3.25 %4.14 %to12.72 %
December 31, 201818,399 $7.94 to$13.89 $171,197 0.00 %0.55 %to3.25 %-16.86 %to-14.52 %
AST Goldman Sachs Small-Cap Value Portfolio (merged June 10, 2022)
December 31, 2022— $11.81 to$35.36 $— 0.00 %0.35 %to2.95 %-12.75 %to-11.76 %
December 31, 202111,732 $13.40 to$40.36 $337,010 0.00 %0.35 %to2.95 %23.01 %to26.19 %
December 31, 202014,038 $10.65 to$32.49 $326,190 0.00 %0.35 %to3.25 %-0.89 %to2.08 %
December 31, 201913,918 $10.46 to$32.33 $322,702 0.00 %0.35 %to3.25 %4.13 %to21.96 %
December 31, 201813,468 $11.49 to$26.88 $258,665 0.00 %0.55 %to3.25 %-16.87 %to-14.54 %
AST Moderate Multi-Asset Portfolio (merged December 2, 2022)
December 31, 2022— $11.83 to$19.08 $— 0.00 %0.35 %to2.95 %-16.94 %to-14.96 %
December 31, 2021209,833 $13.91 to$22.77 $3,919,333 0.00 %0.35 %to2.95 %7.96 %to10.76 %
December 31, 2020235,817 $12.56 to$20.89 $4,004,115 0.00 %0.35 %to3.25 %10.39 %to13.70 %
December 31, 2019262,440 $11.04 to$18.66 $3,953,412 0.00 %0.35 %to3.25 %10.27 %to17.40 %
December 31, 2018262,006 $11.13 to$16.12 $3,400,441 0.00 %0.55 %to3.25 %-10.91 %to-8.41 %
A169


Note 7:    Financial Highlights (continued)
At the year endedFor the year ended
Units
(000s)
Unit Value
Lowest — Highest
Net
Assets
(000s)
Investment
Income
Ratio*
Expense Ratio**
Lowest — Highest
Total Return***
Lowest — Highest
AST J.P. Morgan Global Thematic Portfolio
December 31, 202297,624 $11.54 to$21.57 $1,648,038 0.00 %0.35 %to2.95 %-19.36 %to-17.27 %
December 31, 2021124,741 $13.95 to$26.49 $2,567,981 0.00 %0.35 %to2.95 %9.19 %to12.02 %
December 31, 2020137,600 $12.45 to$24.03 $2,547,203 0.00 %0.35 %to3.25 %9.48 %to12.76 %
December 31, 2019150,691 $11.04 to$21.65 $2,498,498 0.00 %0.35 %to3.25 %10.30 %to18.77 %
December 31, 2018147,090 $12.40 to$18.48 $2,084,922 0.00 %0.55 %to3.25 %-10.40 %to-7.88 %
ProFund VP Consumer Services
December 31, 202215 $10.72 to$33.69 $445 0.00 %0.35 %to2.35 %-33.10 %to-31.77 %
December 31, 202116 $15.71 to$49.48 $684 0.00 %0.35 %to2.00 %8.07 %to9.84 %
December 31, 202029 $14.30 to$45.14 $1,206 0.00 %0.35 %to2.00 %25.83 %to27.89 %
December 31, 201919 $29.44 to$35.37 $628 0.00 %0.55 %to2.00 %22.20 %to23.95 %
December 31, 201816 $24.09 to$28.53 $432 0.00 %0.55 %to2.00 %-1.37 %to0.06 %
ProFund VP Consumer Goods
December 31, 2022$13.47 to$27.62 $168 0.05 %0.35 %to2.00 %-26.17 %to-24.96 %
December 31, 202110 $17.94 to$36.88 $336 0.38 %0.35 %to2.00 %17.30 %to19.23 %
December 31, 202019 $15.05 to$31.00 $506 0.74 %0.35 %to2.00 %28.48 %to30.59 %
December 31, 201925 $11.52 to$23.78 $532 1.47 %0.35 %to2.00 %15.64 %to25.87 %
December 31, 201823 $15.41 to$18.90 $405 1.19 %0.55 %to2.30 %-16.73 %to-15.27 %
ProFund VP Financials
December 31, 202223 $12.43 to$26.23 $415 0.09 %0.35 %to2.30 %-17.05 %to-15.44 %
December 31, 202140 $15.99 to$31.08 $766 0.35 %0.55 %to2.30 %27.18 %to29.39 %
December 31, 202046 $11.34 to$24.02 $688 0.76 %0.35 %to2.30 %-3.98 %to-2.11 %
December 31, 201946 $11.58 to$24.59 $696 0.55 %0.35 %to2.30 %15.77 %to29.55 %
December 31, 201858 $10.28 to$21.18 $713 0.37 %0.55 %to2.90 %-12.97 %to-10.92 %
ProFund VP Health Care
December 31, 202242 $14.31 to$41.29 $1,472 0.00 %0.35 %to2.35 %-8.18 %to-6.35 %
December 31, 202162 $15.28 to$44.18 $2,389 0.04 %0.35 %to2.30 %18.81 %to21.11 %
December 31, 202077 $12.61 to$36.55 $2,471 0.00 %0.35 %to2.30 %11.86 %to14.04 %
December 31, 201958 $11.06 to$32.12 $1,717 0.00 %0.35 %to2.30 %10.35 %to18.71 %
December 31, 201856 $23.12 to$28.77 $1,413 0.00 %0.55 %to2.90 %1.48 %to3.86 %
ProFund VP Industrials
December 31, 202216 $12.52 to$32.42 $419 0.00 %0.35 %to2.35 %-17.54 %to-15.90 %
December 31, 202118 $24.75 to$38.63 $552 0.00 %0.55 %to2.30 %13.79 %to15.76 %
December 31, 202021 $12.84 to$33.37 $563 0.19 %0.35 %to2.30 %14.13 %to16.35 %
December 31, 201922 $19.06 to$28.74 $507 0.00 %0.55 %to2.30 %27.56 %to29.78 %
December 31, 201827 $14.94 to$22.14 $473 0.11 %0.55 %to2.30 %-14.74 %to-13.25 %
ProFund VP Mid-Cap Growth
December 31, 202229 $12.00 to$28.24 $681 0.00 %0.35 %to2.30 %-22.13 %to-20.62 %
December 31, 202134 $15.12 to$35.64 $1,026 0.00 %0.35 %to2.30 %14.34 %to16.56 %
December 31, 202036 $12.97 to$30.64 $901 0.00 %0.35 %to2.30 %18.18 %to20.47 %
December 31, 201928 $19.37 to$25.49 $590 0.00 %0.55 %to2.30 %21.45 %to23.56 %
December 31, 201828 $15.95 to$20.63 $488 0.00 %0.55 %to2.30 %-13.97 %to-12.46 %
ProFund VP Mid-Cap Value
December 31, 202223 $12.57 to$27.89 $506 0.15 %0.35 %to2.30 %-10.51 %to-8.77 %
December 31, 202133 $13.78 to$30.63 $800 0.25 %0.35 %to2.30 %25.64 %to28.08 %
December 31, 202031 $10.76 to$23.96 $611 0.44 %0.35 %to2.30 %0.00 %to1.94 %
December 31, 201930 $17.50 to$23.55 $622 0.20 %0.55 %to2.30 %21.29 %to23.40 %
December 31, 201820 $14.43 to$19.09 $333 0.10 %0.55 %to2.30 %-15.25 %to-13.77 %
ProFund VP Real Estate
December 31, 202211 $10.41 to$21.63 $205 0.71 %0.35 %to2.30 %-28.21 %to-26.81 %
December 31, 202118 $14.23 to$29.62 $409 0.03 %0.35 %to2.30 %34.00 %to36.60 %
December 31, 202019 $13.15 to$21.72 $324 1.63 %0.55 %to2.30 %-8.40 %to-6.81 %
December 31, 201918 $14.36 to$23.31 $338 1.68 %0.55 %to2.30 %23.91 %to26.06 %
December 31, 201812 $11.59 to$22.34 $175 2.17 %0.55 %to2.90 %-8.37 %to-6.22 %

A170


Note 7:    Financial Highlights (continued)
At the year endedFor the year ended
Units
(000s)
Unit Value
Lowest — Highest
Net
Assets
(000s)
Investment
Income
Ratio*
Expense Ratio**
Lowest — Highest
Total Return***
Lowest — Highest
ProFund VP Small-Cap Growth
December 31, 202220 $11.25 to$30.53 $536 0.00 %0.35 %to2.30 %-24.15 %to-22.68 %
December 31, 202123 $28.59 to$39.57 $809 0.00 %0.55 %to2.30 %17.93 %to19.98 %
December 31, 202024 $24.24 to$32.98 $717 0.00 %0.55 %to2.30 %14.75 %to16.75 %
December 31, 201921 $21.12 to$28.25 $526 0.00 %0.55 %to2.30 %16.44 %to18.46 %
December 31, 201827 $18.14 to$25.76 $580 0.00 %0.55 %to2.90 %-8.42 %to-6.27 %
ProFund VP Small-Cap Value
December 31, 202213 $11.59 to$26.22 $278 0.00 %0.35 %to2.00 %-14.13 %to-12.72 %
December 31, 202116 $13.28 to$30.11 $412 0.07 %0.35 %to2.00 %26.04 %to28.11 %
December 31, 202012 $18.55 to$23.55 $238 0.03 %0.55 %to2.00 %-0.92 %to0.51 %
December 31, 201912 $18.73 to$23.43 $234 0.00 %0.55 %to2.00 %20.16 %to21.89 %
December 31, 201817 $15.58 to$19.22 $292 0.00 %0.55 %to2.00 %-15.91 %to-14.69 %
ProFund VP Telecommunications
December 31, 2022$9.65 to$17.40 $68 1.79 %0.35 %to2.35 %-23.02 %to-21.49 %
December 31, 202110 $12.30 to$22.21 $137 0.98 %0.35 %to2.00 %16.09 %to18.00 %
December 31, 2020$10.42 to$18.86 $104 0.97 %0.35 %to2.00 %1.13 %to2.79 %
December 31, 2019$11.41 to$18.39 $79 3.13 %0.55 %to2.00 %12.52 %to14.14 %
December 31, 2018$10.14 to$16.11 $64 5.89 %0.55 %to2.00 %-16.78 %to-15.57 %
ProFund VP Utilities
December 31, 202227 $12.66 to$28.89 $625 0.95 %0.35 %to2.30 %-2.49 %to-0.60 %
December 31, 202126 $12.73 to$29.12 $589 1.54 %0.35 %to2.30 %12.81 %to15.00 %
December 31, 202029 $11.07 to$25.38 $563 1.56 %0.35 %to2.30 %-4.59 %to-2.74 %
December 31, 201931 $11.39 to$26.14 $657 1.69 %0.35 %to2.30 %14.60 %to22.20 %
December 31, 201825 $13.82 to$21.39 $415 2.32 %0.55 %to2.30 %0.56 %to2.32 %
ProFund VP Large-Cap Growth
December 31, 202221 $24.96 to$36.09 $605 0.00 %0.55 %to2.30 %-32.20 %to-31.02 %
December 31, 202139 $36.81 to$52.32 $1,632 0.00 %0.55 %to2.30 %26.94 %to29.15 %
December 31, 202045 $28.99 to$40.51 $1,486 0.00 %0.55 %to2.30 %27.99 %to30.21 %
December 31, 201948 $22.65 to$31.11 $1,219 0.00 %0.55 %to2.30 %25.99 %to28.18 %
December 31, 201843 $17.98 to$25.30 $866 0.00 %0.55 %to2.90 %-4.64 %to-2.40 %
ProFund VP Large-Cap Value
December 31, 202247 $13.12 to$27.28 $1,028 0.51 %0.35 %to2.30 %-8.91 %to-7.15 %
December 31, 202165 $18.21 to$29.44 $1,507 0.96 %0.55 %to2.30 %20.16 %to22.25 %
December 31, 202069 $15.16 to$24.08 $1,301 1.27 %0.55 %to2.30 %-2.31 %to-0.61 %
December 31, 201952 $15.52 to$24.23 $918 0.95 %0.55 %to2.30 %26.86 %to29.06 %
December 31, 201849 $12.23 to$20.10 $684 0.85 %0.55 %to2.90 %-13.16 %to-11.12 %
AST Jennison Large-Cap Growth Portfolio (merged June 10, 2022)
December 31, 2022— $12.75 to$40.36 $— 0.00 %0.35 %to2.95 %-34.76 %to-34.02 %
December 31, 20219,414 $19.35 to$61.23 $452,299 0.00 %0.35 %to2.95 %12.40 %to15.32 %
December 31, 202010,532 $16.83 to$53.29 $451,664 0.00 %0.35 %to3.25 %49.04 %to53.50 %
December 31, 20199,348 $11.00 to$34.92 $280,800 0.00 %0.35 %to3.25 %10.47 %to31.87 %
December 31, 20189,215 $13.70 to$26.59 $213,715 0.00 %0.55 %to3.25 %-4.83 %to-2.15 %
Allspring VT International Equity Fund (Class 1)
December 31, 2022$16.28 to$17.71 $106 4.09 %1.40 %to1.85 %-13.09 %to-12.70 %
December 31, 2021$18.73 to$20.29 $125 1.34 %1.40 %to1.85 %5.44 %to5.91 %
December 31, 2020$17.76 to$19.16 $125 2.88 %1.40 %to1.85 %2.98 %to3.44 %
December 31, 2019$17.25 to$18.52 $156 4.02 %1.40 %to1.85 %13.40 %to13.91 %
December 31, 201810 $15.21 to$16.26 $156 12.90 %1.40 %to1.85 %-18.38 %to-18.01 %
Allspring VT Omega Growth Fund (Class 1)
December 31, 202264 $5.16 to$5.64 $343 0.00 %1.40 %to1.85 %-38.19 %to-37.91 %
December 31, 202163 $8.35 to$9.09 $551 0.00 %1.40 %to1.85 %13.18 %to13.68 %
December 31, 202099 $7.38 to$7.99 $753 0.00 %1.40 %to1.85 %40.81 %to41.43 %
December 31, 2019124 $5.24 to$5.65 $666 0.00 %1.40 %to1.85 %34.90 %to35.50 %
December 31, 2018177 $3.89 to$4.17 $705 0.00 %1.40 %to1.85 %-1.32 %to-0.88 %
A171


Note 7:    Financial Highlights (continued)
At the year endedFor the year ended
Units
(000s)
Unit Value
Lowest — Highest
Net
Assets
(000s)
Investment
Income
Ratio*
Expense Ratio**
Lowest — Highest
Total Return***
Lowest — Highest
Allspring VT Small Cap Growth Fund (Class 1)
December 31, 2022$28.46 to$29.71 $213 0.00 %1.50 %to1.85 %-35.49 %to-35.27 %
December 31, 2021$44.12 to$45.89 $417 0.00 %1.50 %to1.85 %5.97 %to6.34 %
December 31, 202010 $41.63 to$43.16 $417 0.00 %1.50 %to1.85 %55.23 %to55.76 %
December 31, 201916 $26.82 to$27.71 $422 0.00 %1.50 %to1.85 %23.03 %to23.46 %
December 31, 201817 $21.80 to$22.44 $368 0.00 %1.50 %to1.85 %-0.38 %to-0.03 %
AST Bond Portfolio 2022
December 31, 202230 $10.51 to$12.96 $360 0.00 %1.15 %to2.95 %-3.51 %to-1.81 %
December 31, 20214,589 $10.89 to$13.20 $54,457 0.00 %1.15 %to2.95 %-3.77 %to-2.07 %
December 31, 20201,310 $10.87 to$13.04 $16,239 0.00 %1.50 %to3.25 %1.59 %to3.46 %
December 31, 20191,785 $10.70 to$12.60 $20,774 0.00 %1.50 %to3.25 %2.45 %to4.33 %
December 31, 20182,413 $10.45 to$12.40 $27,094 0.00 %1.15 %to3.25 %-3.41 %to-1.30 %
AST Quantitative Modeling Portfolio
December 31, 202260,994 $10.82 to$18.57 $911,892 0.00 %0.35 %to2.65 %-20.85 %to-19.04 %
December 31, 202169,769 $13.41 to$22.99 $1,313,627 0.00 %0.35 %to2.65 %12.46 %to15.04 %
December 31, 202075,102 $11.69 to$20.02 $1,249,337 0.00 %0.35 %to2.65 %8.70 %to11.18 %
December 31, 201980,749 $10.55 to$18.04 $1,259,104 0.00 %0.48 %to2.65 %5.73 %to20.54 %
December 31, 201877,775 $11.57 to$14.97 $1,066,652 0.00 %0.55 %to2.65 %-8.95 %to-7.04 %
AST BlackRock Global Strategies Portfolio
December 31, 202291,613 $10.44 to$14.30 $1,172,122 0.00 %0.35 %to2.95 %-19.34 %to-17.26 %
December 31, 2021118,258 $12.62 to$17.31 $1,844,921 0.00 %0.35 %to2.95 %8.48 %to11.28 %
December 31, 2020130,979 $11.34 to$15.59 $1,847,482 0.00 %0.35 %to2.95 %1.74 %to4.37 %
December 31, 2019142,439 $10.87 to$14.97 $1,941,764 0.00 %0.35 %to3.25 %8.75 %to16.97 %
December 31, 2018142,883 $10.36 to$12.79 $1,681,427 0.00 %0.55 %to3.25 %-8.37 %to-5.80 %
Allspring VT Opportunity Fund (Class 1)
December 31, 202217 $28.64 to$29.78 $501 0.00 %1.50 %to1.85 %-22.05 %to-21.78 %
December 31, 202127 $36.74 to$38.07 $999 0.27 %1.50 %to1.85 %22.79 %to23.22 %
December 31, 202037 $29.92 to$30.90 $1,114 0.69 %1.50 %to1.85 %19.12 %to19.53 %
December 31, 201952 $25.12 to$25.85 $1,327 0.54 %1.50 %to1.85 %29.42 %to29.86 %
December 31, 201865 $19.41 to$19.91 $1,280 0.43 %1.50 %to1.85 %-8.63 %to-8.31 %
AST Prudential Core Bond Portfolio (merged February 11, 2022)
December 31, 2022— $10.08 to$12.77 $— 0.00 %0.35 %to2.70 %-3.93 %to-3.67 %
December 31, 202135,739 $10.45 to$13.25 $436,421 0.00 %0.35 %to2.85 %-4.15 %to-1.68 %
December 31, 202035,984 $10.49 to$13.51 $448,549 0.00 %0.35 %to3.25 %2.60 %to5.68 %
December 31, 201930,278 $10.14 to$12.81 $361,679 0.00 %0.35 %to3.25 %1.09 %to9.15 %
December 31, 201826,712 $9.63 to$11.74 $295,254 0.00 %0.55 %to3.25 %-4.05 %to-1.36 %
AST Bond Portfolio 2023
December 31, 20225,891 $8.89 to$10.78 $57,123 0.00 %1.15 %to2.95 %-6.45 %to-4.80 %
December 31, 2021448 $9.55 to$11.17 $4,649 0.00 %1.30 %to2.90 %-4.47 %to-2.96 %
December 31, 2020415 $9.60 to$11.65 $4,510 0.00 %1.15 %to3.25 %3.30 %to5.54 %
December 31, 2019573 $9.30 to$10.92 $5,939 0.00 %1.30 %to3.25 %3.05 %to5.14 %
December 31, 20181,037 $9.02 to$10.24 $10,167 0.00 %1.50 %to3.25 %-3.52 %to-1.75 %
AST MFS Growth Allocation Portfolio
December 31, 202236,703 $11.59 to$17.23 $561,008 0.00 %0.35 %to2.95 %-20.23 %to-18.17 %
December 31, 202151,267 $14.16 to$21.10 $965,448 0.00 %0.35 %to2.95 %11.55 %to14.44 %
December 31, 202054,399 $12.37 to$18.48 $902,132 0.00 %0.35 %to3.25 %6.30 %to9.49 %
December 31, 201948,939 $11.30 to$16.91 $748,647 0.00 %0.35 %to3.25 %12.85 %to22.09 %
December 31, 201840,453 $11.53 to$13.85 $511,595 0.00 %0.55 %to3.25 %-11.27 %to-8.78 %
AST Western Asset Emerging Markets Debt Portfolio
December 31, 2022807 $8.53 to$10.70 $7,734 0.00 %0.35 %to1.95 %-17.82 %to-16.47 %
December 31, 2021847 $10.38 to$12.86 $9,797 0.00 %0.35 %to1.95 %-4.94 %to-3.39 %
December 31, 2020825 $10.92 to$13.36 $9,949 0.00 %0.35 %to1.95 %5.35 %to7.07 %
December 31, 2019714 $10.27 to$12.52 $8,185 0.00 %0.48 %to1.95 %2.92 %to14.22 %
December 31, 2018676 $9.21 to$10.99 $6,818 0.00 %0.55 %to1.95 %-8.50 %to-7.18 %
A172


Note 7:    Financial Highlights (continued)
At the year endedFor the year ended
Units
(000s)
Unit Value
Lowest — Highest
Net
Assets
(000s)
Investment
Income
Ratio*
Expense Ratio**
Lowest — Highest
Total Return***
Lowest — Highest
AST MFS Large-Cap Value Portfolio (merged February 11, 2022)
December 31, 2022— $12.87 to$27.31 $— 0.00 %0.35 %to2.70 %-5.48 %to-5.22 %
December 31, 202110,358 $13.59 to$28.82 $260,460 0.00 %0.35 %to2.70 %21.68 %to24.61 %
December 31, 202011,095 $10.94 to$23.17 $228,837 0.00 %0.35 %to2.95 %0.92 %to3.53 %
December 31, 201910,037 $10.60 to$22.43 $205,540 0.00 %0.35 %to2.95 %6.32 %to28.64 %
December 31, 20188,592 $11.87 to$17.44 $138,716 0.00 %0.55 %to2.95 %-12.74 %to-10.65 %
AST Bond Portfolio 2024
December 31, 2022210 $9.16 to$9.96 $2,007 0.00 %1.50 %to2.30 %-8.77 %to-8.00 %
December 31, 202133 $10.04 to$10.83 $346 0.00 %1.50 %to2.30 %-4.61 %to-3.81 %
December 31, 2020132 $10.05 to$11.26 $1,428 0.00 %1.50 %to2.95 %5.54 %to7.05 %
December 31, 2019460 $9.26 to$10.51 $4,633 0.00 %1.50 %to3.25 %4.45 %to6.36 %
December 31, 20182,167 $8.87 to$9.89 $20,453 0.00 %1.50 %to3.25 %-3.89 %to-2.12 %
AST ClearBridge Dividend Growth Portfolio
December 31, 20227,272 $12.64 to$25.52 $163,810 0.00 %0.35 %to2.40 %-9.71 %to-7.87 %
December 31, 20218,130 $13.76 to$27.76 $201,163 0.00 %0.35 %to2.65 %23.17 %to26.08 %
December 31, 20209,007 $10.95 to$22.06 $179,575 0.00 %0.35 %to2.85 %1.74 %to4.36 %
December 31, 20198,907 $10.53 to$21.18 $174,580 0.00 %0.35 %to2.85 %5.92 %to30.31 %
December 31, 20187,720 $13.08 to$16.26 $117,570 0.00 %0.55 %to2.85 %-7.49 %to-5.29 %
AST Multi-Sector Fixed Income Portfolio
December 31, 20221,026,298 $10.13 to$10.98 $10,399,992 0.00 %1.10 %to1.90 %-22.63 %to-22.00 %
December 31, 20211,120,447 $13.10 to$14.07 $14,674,471 0.00 %1.10 %to1.90 %-2.28 %to-1.48 %
December 31, 20201,200,377 $13.40 to$14.28 $16,087,144 0.00 %1.10 %to1.90 %10.51 %to11.41 %
December 31, 20191,169,849 $12.13 to$12.82 $14,186,157 0.00 %1.10 %to1.90 %16.46 %to17.41 %
December 31, 2018941,647 $10.41 to$10.92 $9,805,072 0.00 %1.10 %to1.90 %-7.40 %to-6.64 %
AST Large-Cap Core Portfolio
December 31, 202210,604 $8.54 to$24.17 $210,976 0.00 %0.35 %to2.95 %-19.37 %to-17.28 %
December 31, 202112,893 $10.58 to$29.28 $314,091 0.00 %0.35 %to2.95 %4.85 %to27.39 %
December 31, 20202,175 $11.89 to$23.03 $43,237 0.00 %0.35 %to2.95 %7.96 %to10.76 %
December 31, 2019989 $10.77 to$20.84 $18,744 0.00 %0.48 %to2.95 %7.89 %to24.50 %
December 31, 2018883 $12.71 to$16.74 $13,957 0.00 %0.55 %to2.95 %-9.83 %to-7.66 %
AST Bond Portfolio 2025
December 31, 2022207 $10.05 to$11.41 $2,224 0.00 %1.50 %to2.95 %-11.35 %to-10.09 %
December 31, 202191 $11.33 to$12.27 $1,085 0.00 %1.90 %to2.95 %-5.64 %to-4.70 %
December 31, 2020220 $11.81 to$13.58 $2,808 0.00 %1.15 %to3.10 %7.90 %to10.07 %
December 31, 2019776 $10.84 to$12.33 $9,011 0.00 %1.15 %to3.25 %5.19 %to7.47 %
December 31, 20182,827 $10.31 to$11.48 $30,694 0.00 %1.15 %to3.25 %-3.98 %to-1.88 %
AST T. Rowe Price Growth Opportunities Portfolio
December 31, 2022109,362 $12.02 to$16.29 $1,652,153 0.00 %0.35 %to1.95 %-19.50 %to-18.19 %
December 31, 2021178,471 $14.70 to$19.95 $3,331,255 0.00 %0.35 %to1.95 %13.46 %to15.31 %
December 31, 2020188,341 $12.74 to$17.34 $3,080,473 0.00 %0.35 %to1.95 %11.48 %to13.30 %
December 31, 2019185,524 $11.25 to$15.33 $2,705,786 0.00 %0.35 %to1.95 %12.25 %to24.04 %
December 31, 2018125,668 $11.53 to$12.36 $1,489,625 0.00 %0.55 %to1.95 %-9.45 %to-8.15 %
AST T. Rowe Price Diversified Real Growth Portfolio
December 31, 20227,544 $11.30 to$15.64 $109,958 0.00 %0.48 %to0.86 %-16.95 %to-16.63 %
December 31, 20218,556 $13.58 to$18.81 $151,350 0.00 %0.48 %to0.86 %12.20 %to12.63 %
December 31, 20208,977 $12.08 to$16.77 $142,737 0.00 %0.48 %to0.86 %14.48 %to14.92 %
December 31, 20195,890 $10.53 to$14.64 $84,135 0.00 %0.48 %to0.86 %5.36 %to21.40 %
December 31, 20184,446 $11.60 to$12.10 $52,914 0.00 %0.55 %to0.86 %-7.91 %to-7.62 %
AST Prudential Flexible Multi-Strategy Portfolio
December 31, 20226,243 $10.56 to$13.99 $82,983 0.00 %0.48 %to0.86 %-17.35 %to-17.04 %
December 31, 20217,089 $12.75 to$16.88 $113,958 0.00 %0.48 %to0.86 %12.35 %to12.78 %
December 31, 20207,540 $11.33 to$14.98 $108,311 0.00 %0.48 %to0.86 %7.81 %to8.23 %
December 31, 20195,864 $10.49 to$13.85 $79,837 0.00 %0.48 %to0.86 %5.03 %to14.24 %
December 31, 20185,861 $11.40 to$12.12 $70,334 0.00 %0.55 %to0.86 %-7.34 %to-7.05 %
A173


Note 7:    Financial Highlights (continued)
At the year endedFor the year ended
Units
(000s)
Unit Value
Lowest — Highest
Net
Assets
(000s)
Investment
Income
Ratio*
Expense Ratio**
Lowest — Highest
Total Return***
Lowest — Highest
AST Franklin 85/15 Diversified Allocation Portfolio
December 31, 202223,247 $11.02 to$13.46 $292,732 0.00 %0.35 %to1.95 %-21.24 %to-19.96 %
December 31, 202136,913 $13.77 to$16.86 $586,820 0.00 %0.35 %to1.95 %18.54 %to20.47 %
December 31, 202038,487 $11.43 to$14.02 $513,153 0.00 %0.35 %to1.95 %4.00 %to5.70 %
December 31, 201939,352 $10.82 to$13.29 $501,324 0.00 %0.35 %to1.95 %8.09 %to17.60 %
December 31, 201829,409 $10.66 to$11.30 $321,088 0.00 %0.55 %to1.95 %-8.01 %to-6.69 %
AST Bond Portfolio 2026
December 31, 2022488 $8.68 to$9.72 $4,526 0.00 %1.50 %to2.95 %-13.24 %to-12.00 %
December 31, 2021378 $10.00 to$11.05 $4,006 0.00 %1.50 %to2.95 %-6.60 %to-5.26 %
December 31, 2020811 $10.52 to$11.80 $9,089 0.00 %1.30 %to3.15 %7.19 %to9.26 %
December 31, 20193,763 $9.77 to$10.87 $39,140 0.00 %1.15 %to3.25 %6.45 %to8.76 %
December 31, 20187,783 $9.17 to$10.00 $74,690 0.00 %1.15 %to3.25 %-4.27 %to-2.18 %
AST Global Bond Portfolio
December 31, 202215,712 $8.24 to$10.23 $144,184 0.00 %0.35 %to2.70 %-14.56 %to-12.50 %
December 31, 202118,812 $9.64 to$11.71 $198,009 0.00 %0.35 %to2.70 %-4.12 %to-1.81 %
December 31, 202018,521 $10.05 to$11.95 $199,922 0.00 %0.35 %to2.70 %0.54 %to3.99 %
December 31, 2019295 $9.96 to$11.50 $3,344 0.00 %0.48 %to0.86 %-0.78 %to6.40 %
December 31, 2018195 $10.55 to$10.81 $2,103 0.00 %0.55 %to0.86 %2.58 %to2.90 %
AST QMA International Core Equity Portfolio
December 31, 2022795 $10.63 to$12.67 $8,958 0.00 %0.48 %to0.86 %-15.06 %to-14.73 %
December 31, 2021862 $12.49 to$14.92 $11,430 0.00 %0.48 %to0.86 %11.15 %to11.58 %
December 31, 2020848 $11.22 to$13.42 $10,110 0.00 %0.48 %to0.86 %5.66 %to6.07 %
December 31, 2019779 $10.59 to$12.70 $8,847 0.00 %0.48 %to0.86 %6.92 %to16.21 %
December 31, 2018669 $9.66 to$10.96 $6,560 0.00 %0.55 %to0.86 %-16.16 %to-15.89 %
BlackRock Global Allocation V.I. Fund (Class III)
December 31, 20224,240 $11.12 to$13.52 $53,948 0.00 %0.48 %to0.86 %-16.79 %to-16.48 %
December 31, 20214,483 $13.33 to$16.25 $68,723 0.83 %0.48 %to0.86 %5.50 %to5.90 %
December 31, 20204,459 $12.61 to$15.40 $65,022 1.37 %0.48 %to0.86 %19.67 %to20.13 %
December 31, 20194,130 $10.52 to$12.87 $51,164 1.39 %0.48 %to0.86 %5.41 %to17.11 %
December 31, 20183,693 $10.59 to$11.02 $39,436 0.93 %0.55 %to0.86 %-8.38 %to-8.09 %
JPMorgan Insurance Trust Income Builder Portfolio (Class 2)
December 31, 20221,510 $10.05 to$12.37 $17,873 3.69 %0.48 %to0.86 %-13.26 %to-12.93 %
December 31, 20211,678 $11.56 to$14.26 $22,942 2.62 %0.48 %to0.86 %7.29 %to7.70 %
December 31, 20201,658 $10.75 to$13.29 $21,175 3.37 %0.48 %to0.86 %4.31 %to4.71 %
December 31, 20191,594 $10.29 to$12.74 $19,837 3.07 %0.48 %to0.86 %2.77 %to13.64 %
December 31, 20181,264 $10.97 to$11.25 $13,988 0.00 %0.55 %to0.86 %-5.74 %to-5.44 %
AST Bond Portfolio 2027
December 31, 2022755 $8.61 to$9.70 $6,886 0.00 %1.15 %to2.90 %-15.15 %to-13.70 %
December 31, 2021749 $10.12 to$11.24 $7,993 0.00 %1.15 %to2.95 %-7.33 %to-5.69 %
December 31, 20201,049 $10.71 to$11.92 $11,975 0.00 %1.15 %to3.25 %8.23 %to10.58 %
December 31, 20193,296 $9.89 to$10.78 $34,237 0.00 %1.15 %to3.25 %7.09 %to9.41 %
December 31, 20189,050 $9.24 to$9.85 $86,291 0.00 %1.15 %to3.25 %-4.49 %to-2.40 %
NVIT Emerging Markets Fund (Class D)
December 31, 2022325 $9.61 to$9.98 $3,184 0.17 %1.40 %to2.00 %-26.47 %to-26.03 %
December 31, 2021345 $13.07 to$13.49 $4,581 0.92 %1.40 %to2.00 %-9.40 %to-8.87 %
December 31, 2020418 $14.43 to$14.81 $6,114 1.59 %1.40 %to2.00 %10.71 %to11.36 %
December 31, 2019451 $13.03 to$13.30 $5,937 2.09 %1.40 %to2.00 %20.18 %to20.89 %
December 31, 2018506 $10.84 to$11.00 $5,533 0.34 %1.40 %to2.00 %-19.33 %to-18.85 %
AST Bond Portfolio 2028
December 31, 20222,656 $8.93 to$9.38 $24,826 0.00 %1.90 %to2.70 %-16.37 %to-15.68 %
December 31, 20211,810 $10.67 to$11.12 $20,083 0.00 %1.90 %to2.70 %-7.03 %to-6.26 %
December 31, 2020— (1)$11.40 to$12.16 $— (1)0.00 %1.30 %to2.95 %11.40 %to13.21 %
December 31, 2019887 $10.12 to$10.75 $9,329 0.00 %1.30 %to3.25 %7.96 %to10.16 %
December 31, 20182,788 $9.37 to$9.78 $26,723 0.00 %1.15 %to3.25 %-5.26 %to-3.19 %

A174


Note 7:    Financial Highlights (continued)
At the year endedFor the year ended
Units
(000s)
Unit Value
Lowest — Highest
Net
Assets
(000s)
Investment
Income
Ratio*
Expense Ratio**
Lowest — Highest
Total Return***
Lowest — Highest
AST Bond Portfolio 2029 (available January 2, 2018)
December 31, 2022224 $8.91 to$9.73 $2,083 0.00 %1.15 %to2.95 %-18.38 %to-16.94 %
December 31, 2021$10.92 to$11.27 $23 0.00 %2.15 %to2.95 %-7.25 %to-6.52 %
December 31, 2020$11.64 to$12.36 $38 0.00 %1.30 %to3.25 %12.51 %to14.80 %
December 31, 20191,766 $10.34 to$10.80 $18,741 0.00 %1.15 %to3.25 %8.65 %to11.01 %
December 31, 2018313 $9.52 to$9.73 $3,009 0.00 %1.15 %to3.25 %-4.82 %to-2.74 %
AST American Funds Growth Allocation Portfolio (available April 30, 2018)
December 31, 202236,510 $12.07 to$12.89 $454,828 0.00 %0.35 %to1.95 %-20.66 %to-19.37 %
December 31, 202186,526 $15.21 to$16.02 $1,349,107 0.00 %0.35 %to1.95 %12.50 %to14.34 %
December 31, 202089,195 $13.52 to$14.04 $1,227,833 0.00 %0.35 %to1.95 %19.63 %to21.58 %
December 31, 201978,975 $11.24 to$11.57 $902,733 0.00 %0.35 %to1.95 %12.19 %to21.63 %
December 31, 201828,990 $9.42 to$9.51 $274,473 0.00 %0.55 %to1.95 %-5.28 %to-4.38 %
AST Bond Portfolio 2030 (available January 2, 2019)
December 31, 20221,549 $9.26 to$9.88 $14,919 0.00 %1.30 %to2.95 %-19.50 %to-18.19 %
December 31, 20211,496 $11.50 to$12.07 $17,743 0.00 %1.30 %to2.95 %-6.95 %to-5.43 %
December 31, 20203,435 $12.36 to$12.80 $43,329 0.00 %1.15 %to2.95 %11.23 %to13.19 %
December 31, 2019920 $11.07 to$11.31 $10,321 0.00 %1.15 %to3.25 %10.68 %to13.08 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
AST BlackRock 80/20 Target Allocation ETF Portfolio (available January 28, 2019)
December 31, 20228,819 $12.91 to$13.82 $119,457 0.00 %0.35 %to1.95 %-17.37 %to-16.03 %
December 31, 202119,592 $15.37 to$16.54 $319,146 0.00 %0.35 %to1.95 %13.73 %to15.59 %
December 31, 202019,637 $13.30 to$14.38 $279,519 0.00 %0.35 %to1.95 %16.06 %to17.95 %
December 31, 201914,124 $11.27 to$12.29 $172,194 0.00 %0.35 %to1.95 %12.54 %to17.45 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
AST BlackRock 60/40 Target Allocation ETF Portfolio (available January 28, 2019)
December 31, 20227,630 $12.03 to$12.74 $94,436 0.00 %0.35 %to1.95 %-17.15 %to-15.80 %
December 31, 202115,006 $14.33 to$15.16 $222,560 0.00 %0.35 %to1.95 %9.41 %to11.20 %
December 31, 202015,395 $12.88 to$13.66 $207,231 0.00 %0.35 %to1.95 %13.50 %to15.35 %
December 31, 201910,889 $11.17 to$11.86 $128,249 0.00 %0.35 %to1.95 %11.58 %to14.46 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
AST Western Asset Corporate Bond Portfolio (available August 19, 2019) (merged February 11, 2022)
December 31, 2022— $10.03 to$10.25 $— 0.00 %0.40 %to1.30 %-4.15 %to-4.05 %
December 31, 2021327 $10.46 to$10.69 $3,427 0.00 %0.40 %to1.30 %-2.56 %to-1.68 %
December 31, 2020315 $10.74 to$10.87 $3,384 0.00 %0.40 %to1.30 %6.71 %to7.68 %
December 31, 201928 $10.06 to$10.06 $279 0.00 %1.20 %to1.30 %0.62 %to0.65 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
AST T. Rowe Price Corporate Bond Portfolio (available August 19, 2019) (merged February 11, 2022)
December 31, 2022— $10.06 to$10.29 $— 0.00 %0.40 %to1.30 %-4.14 %to-4.04 %
December 31, 2021281 $10.50 to$10.73 $2,962 0.00 %0.40 %to1.30 %-2.29 %to-1.40 %
December 31, 2020274 $10.74 to$10.88 $2,947 0.00 %0.40 %to1.30 %6.59 %to7.56 %
December 31, 201928 $10.08 to$10.08 $280 0.00 %1.20 %to1.30 %0.81 %to0.85 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
AST PIMCO Corporate Bond Portfolio (available August 19, 2019) (merged February 11, 2022)
December 31, 2022— $10.08 to$10.31 $— 0.00 %0.40 %to1.30 %-3.90 %to-3.80 %
December 31, 2021444 $10.49 to$10.72 $4,672 0.00 %0.40 %to1.30 %-2.29 %to-1.40 %
December 31, 2020406 $10.74 to$10.87 $4,361 0.00 %0.40 %to1.30 %6.71 %to7.68 %
December 31, 201926 $10.06 to$10.06 $262 0.00 %1.20 %to1.30 %0.62 %to0.65 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
AST Prudential Corporate Bond Portfolio (available August 19, 2019) (merged February 11, 2022)
December 31, 2022— $10.08 to$10.31 $— 0.00 %0.40 %to1.30 %-4.31 %to-4.21 %
December 31, 2021614 $10.54 to$10.77 $6,486 0.00 %0.40 %to1.30 %-2.11 %to-1.22 %
December 31, 2020578 $10.76 to$10.90 $6,228 0.00 %0.40 %to1.30 %6.26 %to7.23 %
December 31, 201964 $10.13 to$10.13 $644 0.00 %1.20 %to1.30 %1.31 %to1.35 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
A175


Note 7:    Financial Highlights (continued)
At the year endedFor the year ended
Units
(000s)
Unit Value
Lowest — Highest
Net
Assets
(000s)
Investment
Income
Ratio*
Expense Ratio**
Lowest — Highest
Total Return***
Lowest — Highest
AST BlackRock Corporate Bond Portfolio (available August 19, 2019) (merged February 11, 2022)
December 31, 2022— $10.24 to$10.49 $— 0.00 %0.35 %to1.30 %-4.14 %to-4.03 %
December 31, 2021373 $10.68 to$10.93 $4,000 0.00 %0.35 %to1.30 %-2.71 %to-1.78 %
December 31, 2020350 $10.98 to$11.12 $3,848 0.00 %0.40 %to1.30 %9.15 %to10.14 %
December 31, 201928 $10.06 to$10.06 $279 0.00 %1.20 %to1.30 %0.62 %to0.65 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
AST Bond Portfolio 2031 (available January 2, 2020)
December 31, 20225,315 $8.03 to$8.43 $43,854 0.00 %1.30 %to2.95 %-21.06 %to-19.78 %
December 31, 20213,709 $10.17 to$10.53 $38,423 0.00 %1.15 %to2.95 %-7.50 %to-5.87 %
December 31, 20205,312 $11.00 to$11.19 $58,919 0.00 %1.15 %to2.95 %9.97 %to11.91 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
Fidelity® VIP Contrafund® Portfolio (Initial Class) (available February 24, 2020)
December 31, 202260 $11.31 to$11.36 $685 0.76 %0.35 %to0.50 %-26.68 %to-26.57 %
December 31, 202148 $15.42 to$15.47 $736 0.01 %0.35 %to0.50 %27.20 %to27.39 %
December 31, 2020$12.13 to$12.13 $11 0.42 %0.50 %to0.50 %25.68 %to25.68 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
Fidelity® VIP Growth Opportunities Portfolio (Initial Class) (available February 24, 2020)
December 31, 202251 $10.48 to$10.55 $532 0.00 %0.25 %to0.50 %-38.46 %to-38.30 %
December 31, 202140 $17.03 to$17.11 $674 0.00 %0.25 %to0.50 %11.38 %to11.66 %
December 31, 2020$15.29 to$15.30 $108 0.00 %0.40 %to0.50 %59.14 %to59.28 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
Fidelity® VIP Growth Portfolio (Initial Class) (available February 24, 2020)
December 31, 202243 $12.22 to$12.31 $523 0.59 %0.25 %to0.50 %-24.83 %to-24.65 %
December 31, 2021$16.26 to$16.29 $78 0.00 %0.40 %to0.50 %22.60 %to22.72 %
December 31, 2020$13.26 to$13.26 $27 0.00 %0.50 %to0.50 %37.98 %to37.98 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
Fidelity® VIP Investment Grade Bond Portfolio (Initial Class) (available February 24, 2020)
December 31, 202233 $9.10 to$9.13 $302 2.21 %0.40 %to0.50 %-13.39 %to-13.31 %
December 31, 202143 $10.51 to$10.53 $452 3.93 %0.40 %to0.50 %-1.10 %to-1.00 %
December 31, 2020$10.63 to$10.64 $51 5.90 %0.40 %to0.50 %5.95 %to6.04 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
MFS® New Discovery Series (Initial Class) (available February 24, 2020)
December 31, 202227 $9.85 to$9.92 $264 0.00 %0.25 %to0.50 %-30.11 %to-29.93 %
December 31, 202126 $14.10 to$14.16 $368 0.00 %0.25 %to0.50 %1.29 %to1.55 %
December 31, 2020$13.92 to$13.93 $0.00 %0.40 %to0.50 %43.43 %to43.55 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
MFS® Total Return Series (Initial Class) (available February 24, 2020)
December 31, 2022103 $10.98 to$11.06 $1,130 1.71 %0.25 %to0.50 %-10.03 %to-9.81 %
December 31, 2021100 $12.23 to$12.26 $1,225 1.86 %0.25 %to0.40 %13.66 %to13.83 %
December 31, 202087 $10.76 to$10.77 $935 0.00 %0.25 %to0.40 %9.53 %to9.67 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
MFS® Total Return Bond Series (Initial Class) (available February 24, 2020)
December 31, 2022176 $8.88 to$8.95 $1,566 4.14 %0.25 %to0.50 %-14.36 %to-14.15 %
December 31, 202136 $10.37 to$10.42 $376 4.24 %0.25 %to0.50 %-1.31 %to-1.06 %
December 31, 2020$10.53 to$10.53 $57 0.00 %0.25 %to0.25 %5.12 %to5.12 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
A176


Note 7:    Financial Highlights (continued)
At the year endedFor the year ended
Units
(000s)
Unit Value
Lowest — Highest
Net
Assets (000s)
Investment
Income
Ratio*
Expense Ratio**
Lowest — Highest
Total Return***
Lowest — Highest
Vanguard Equity Index Portfolio (available February 24, 2020)
December 31, 202266 $11.71 to$11.79 $777 1.20 %0.60 %to0.85 %-18.92 %to-18.72 %
December 31, 202136 $14.44 to$14.51 $515 0.29 %0.60 %to0.85 %27.46 %to27.78 %
December 31, 2020$11.33 to$11.33 $52 0.00 %0.85 %to0.85 %17.23 %to17.23 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
Vanguard Global Bond Index (available February 24, 2020)
December 31, 202219 $8.66 to$8.68 $161 2.21 %0.75 %to0.85 %-13.86 %to-13.78 %
December 31, 202132 $10.05 to$10.07 $324 0.88 %0.75 %to0.85 %-2.67 %to-2.58 %
December 31, 2020— (1)$10.34 to$10.34 $0.00 %0.75 %to0.75 %3.06 %to3.06 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
Vanguard Mid-Cap Index Portfolio (available February 24, 2020)
December 31, 2022107 $11.26 to$11.34 $1,212 0.92 %0.60 %to0.85 %-19.51 %to-19.31 %
December 31, 202187 $13.99 to$14.05 $1,226 0.14 %0.60 %to0.85 %23.30 %to23.61 %
December 31, 2020$11.35 to$11.35 $15 0.00 %0.75 %to0.75 %16.93 %to16.93 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
Vanguard Real Estate Index Portfolio (available February 24, 2020)
December 31, 202291 $8.95 to$9.02 $820 1.87 %0.60 %to0.85 %-26.92 %to-26.74 %
December 31, 202179 $12.25 to$12.31 $975 0.29 %0.60 %to0.85 %39.02 %to39.37 %
December 31, 2020$8.81 to$8.82 $29 0.00 %0.75 %to0.85 %-10.61 %to-10.54 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
Vanguard Total Bond Market Index Portfolio (available February 24, 2020)
December 31, 2022145 $8.73 to$8.79 $1,269 1.84 %0.60 %to0.85 %-13.95 %to-13.73 %
December 31, 2021110 $10.14 to$10.19 $1,118 0.30 %0.60 %to0.85 %-2.55 %to-2.31 %
December 31, 2020$10.42 to$10.42 $26 0.00 %0.75 %to0.75 %3.75 %to3.75 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
Vanguard Total International Stock Market Index Portfolio (available February 24, 2020)
December 31, 2022164 $10.08 to$10.15 $1,661 2.57 %0.60 %to0.85 %-16.73 %to-16.52 %
December 31, 2021107 $12.10 to$12.16 $1,297 0.55 %0.60 %to0.85 %7.61 %to7.88 %
December 31, 2020$11.25 to$11.26 $71 0.00 %0.75 %to0.85 %16.60 %to16.70 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
Vanguard Total Stock Market Index Portfolio (available February 24, 2020)
December 31, 2022174 $11.47 to$11.55 $2,005 1.05 %0.60 %to0.85 %-20.27 %to-20.07 %
December 31, 2021100 $14.38 to$14.45 $1,443 0.37 %0.60 %to0.85 %24.57 %to24.88 %
December 31, 202011 $11.55 to$11.55 $132 0.00 %0.75 %to0.75 %19.48 %to19.48 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
Vanguard Balanced Portfolio (available February 24, 2020)
December 31, 2022185 $10.76 to$10.84 $1,990 1.83 %0.60 %to0.85 %-15.03 %to-14.82 %
December 31, 2021174 $12.66 to$12.70 $2,203 0.15 %0.70 %to0.85 %18.01 %to18.18 %
December 31, 2020$10.73 to$10.73 $62 0.00 %0.85 %to0.85 %9.49 %to9.49 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
Vanguard Conservative Allocation Portfolio (available February 24, 2020)
December 31, 202241 $9.63 to$9.66 $399 2.50 %0.75 %to0.85 %-15.62 %to-15.53 %
December 31, 202140 $11.42 to$11.44 $455 0.50 %0.75 %to0.85 %5.09 %to5.19 %
December 31, 2020$10.86 to$10.87 $75 0.00 %0.75 %to0.85 %9.89 %to9.98 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %

A177


Note 7:    Financial Highlights (continued)
At the year endedFor the year ended
Units
(000s)
Unit Value
Lowest — Highest
Net
Assets (000s)
Investment
Income
Ratio*
Expense Ratio**
Lowest — Highest
Total Return***
Lowest — Highest
Vanguard Growth Portfolio (available February 24, 2020)
December 31, 202240 $10.10 to$10.17 $404 0.00 %0.60 %to0.85 %-33.93 %to-33.76 %
December 31, 202131 $15.28 to$15.35 $472 0.02 %0.60 %to0.85 %16.86 %to17.16 %
December 31, 2020$13.09 to$13.09 $11 0.00 %0.75 %to0.75 %35.55 %to35.55 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
Vanguard High Yield Bond Portfolio (available February 24, 2020)
December 31, 202222 $9.57 to$9.64 $216 3.49 %0.60 %to0.85 %-10.13 %to-9.91 %
December 31, 202116 $10.65 to$10.70 $167 0.32 %0.60 %to0.85 %2.80 %to3.06 %
December 31, 2020$10.37 to$10.37 $0.00 %0.75 %to0.75 %4.24 %to4.24 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
Vanguard Moderate Allocation Portfolio (available February 24, 2020)
December 31, 2022136 $10.08 to$10.16 $1,383 1.93 %0.60 %to0.85 %-16.64 %to-16.43 %
December 31, 202136 $12.10 to$12.15 $433 0.90 %0.60 %to0.85 %9.14 %to9.41 %
December 31, 2020$11.08 to$11.08 $52 0.00 %0.85 %to0.85 %12.99 %to12.99 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
Vanguard Short-Term Investment Grade Portfolio (available February 24, 2020)
December 31, 2022198 $9.55 to$9.62 $1,900 1.49 %0.60 %to0.85 %-6.52 %to-6.29 %
December 31, 202182 $10.21 to$10.26 $835 0.74 %0.60 %to0.85 %-1.30 %to-1.05 %
December 31, 2020$10.35 to$10.36 $31 0.00 %0.75 %to0.85 %3.30 %to3.39 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
American Funds IS Asset Allocation Fund (Class 1) (available February 24, 2020)
December 31, 2022484 $10.77 to$10.85 $5,231 2.23 %0.60 %to0.85 %-13.93 %to-13.71 %
December 31, 2021439 $12.51 to$12.57 $5,504 3.08 %0.60 %to0.85 %14.42 %to14.71 %
December 31, 202026 $10.93 to$10.96 $286 12.73 %0.60 %to0.85 %11.90 %to12.14 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
American Funds IS Washington Mutual Investors Fund℠ (Class 1) (available February 24, 2020)
December 31, 202287 $12.39 to$12.48 $1,086 2.32 %0.60 %to0.85 %-9.06 %to-8.83 %
December 31, 202165 $13.62 to$13.66 $884 1.99 %0.70 %to0.85 %27.03 %to27.22 %
December 31, 2020$10.72 to$10.72 $80 11.58 %0.85 %to0.85 %11.04 %to11.04 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
American Funds IS The Bond Fund of America® (Class 1) (available February 24, 2020)
December 31, 202282 $9.17 to$9.24 $758 3.69 %0.60 %to0.85 %-13.00 %to-12.79 %
December 31, 202149 $10.54 to$10.59 $516 2.59 %0.60 %to0.85 %-0.99 %to-0.74 %
December 31, 2020$10.65 to$10.65 $43 5.32 %0.85 %to0.85 %6.21 %to6.21 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
American Funds IS Growth Fund (Class 1) (available February 24, 2020)
December 31, 2022125 $11.71 to$11.79 $1,470 0.57 %0.60 %to0.85 %-30.35 %to-30.18 %
December 31, 2021131 $16.81 to$16.89 $2,203 0.63 %0.60 %to0.85 %21.26 %to21.56 %
December 31, 202024 $13.86 to$13.87 $335 1.87 %0.75 %to0.85 %44.00 %to44.13 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
American Funds IS Growth-Income Fund (Class 1) (available February 24, 2020)
December 31, 2022171 $11.29 to$11.37 $1,937 1.65 %0.60 %to0.85 %-17.00 %to-16.79 %
December 31, 2021138 $13.60 to$13.67 $1,880 2.03 %0.60 %to0.85 %23.36 %to23.67 %
December 31, 2020$11.03 to$11.03 $25 3.46 %0.85 %to0.85 %13.98 %to13.98 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %

A178


Note 7:    Financial Highlights (continued)
At the year endedFor the year ended
Units
(000s)
Unit Value
Lowest — Highest
Net
Assets (000s)
Investment
Income
Ratio*
Expense Ratio**
Lowest — Highest
Total Return***
Lowest — Highest
American Funds IS U.S. Government Securities Fund® (Class 1) (available February 24, 2020)
December 31, 202261 $9.40 to$9.47 $572 5.39 %0.60 %to0.85 %-11.50 %to-11.28 %
December 31, 202134 $10.62 to$10.67 $358 2.07 %0.60 %to0.85 %-1.29 %to-1.04 %
December 31, 2020$10.77 to$10.77 $22 5.16 %0.75 %to0.75 %7.13 %to7.13 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
BlackRock Basic Value V.I. Fund (Class I) (available February 24, 2020)
December 31, 202247 $11.93 to$12.01 $558 1.58 %0.25 %to0.50 %-5.39 %to-5.16 %
December 31, 202142 $12.61 to$12.66 $535 1.59 %0.25 %to0.50 %21.07 %to21.37 %
December 31, 202029 $10.43 to$10.43 $299 13.38 %0.25 %to0.25 %7.67 %to7.67 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
BlackRock Capital Appreciation V.I. Fund (Class I) (available February 24, 2020)
December 31, 202264 $9.68 to$9.75 $624 0.00 %0.25 %to0.50 %-37.95 %to-37.79 %
December 31, 202125 $15.61 to$15.64 $391 0.00 %0.40 %to0.50 %20.55 %to20.67 %
December 31, 2020$12.95 to$12.96 $49 0.00 %0.40 %to0.50 %34.41 %to34.52 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
BlackRock Equity Dividend V.I. Fund (Class I) (available February 24, 2020)
December 31, 2022210 $11.90 to$11.99 $2,509 1.68 %0.25 %to0.50 %-4.33 %to-4.09 %
December 31, 2021227 $12.44 to$12.50 $2,838 1.89 %0.25 %to0.50 %19.94 %to20.24 %
December 31, 202030 $10.37 to$10.40 $309 2.64 %0.25 %to0.50 %7.26 %to7.49 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
BlackRock Global Allocation V.I. Fund (Class I) (available February 24, 2020)
December 31, 2022145 $10.50 to$10.57 $1,527 0.00 %0.25 %to0.50 %-16.28 %to-16.07 %
December 31, 2021100 $12.54 to$12.60 $1,258 1.29 %0.25 %to0.50 %6.14 %to6.41 %
December 31, 2020$11.81 to$11.81 $21 3.20 %0.50 %to0.50 %20.42 %to20.42 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
DFA VA Global Bond Portfolio (available February 24, 2020)
December 31, 202250 $9.14 to$9.20 $463 1.58 %0.60 %to0.85 %-7.13 %to-6.89 %
December 31, 202151 $9.84 to$9.88 $500 1.22 %0.60 %to0.85 %-1.88 %to-1.64 %
December 31, 2020$10.03 to$10.03 $24 0.19 %0.75 %to0.75 %0.33 %to0.33 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
DFA VA Short-Term Fixed Portfolio (available February 24, 2020)
December 31, 202291 $9.66 to$9.73 $885 1.36 %0.60 %to0.85 %-1.99 %to-1.75 %
December 31, 202180 $9.85 to$9.90 $788 0.01 %0.60 %to0.85 %-1.03 %to-0.78 %
December 31, 2020$9.96 to$9.96 $17 2.82 %0.85 %to0.85 %-0.42 %to-0.42 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
DFA VA U.S. Large Value Portfolio (available February 24, 2020)
December 31, 2022125 $11.83 to$11.91 $1,480 2.54 %0.60 %to0.85 %-5.68 %to-5.45 %
December 31, 202149 $12.54 to$12.60 $620 2.67 %0.60 %to0.85 %25.96 %to26.28 %
December 31, 2020$9.96 to$9.96 $15 23.16 %0.75 %to0.75 %3.23 %to3.23 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
DFA VA U.S. Targeted Value Portfolio (available February 24, 2020)
December 31, 202268 $14.14 to$14.25 $962 1.72 %0.60 %to0.85 %-5.02 %to-4.79 %
December 31, 202120 $14.89 to$14.96 $302 3.03 %0.60 %to0.85 %38.50 %to38.84 %
December 31, 2020— (1)$10.76 to$10.76 $6.29 %0.75 %to0.75 %11.44 %to11.44 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %

A179


Note 7:    Financial Highlights (continued)
At the year endedFor the year ended
Units
(000s)
Unit Value
Lowest — Highest
Net
Assets (000s)
Investment
Income
Ratio*
Expense Ratio**
Lowest — Highest
Total Return***
Lowest — Highest
Fidelity® VIP Balanced Portfolio (Initial Class) (available February 24, 2020)
December 31, 2022232 $11.26 to$11.34 $2,615 1.29 %0.25 %to0.50 %-18.35 %to-18.15 %
December 31, 2021312 $13.79 to$13.86 $4,308 1.00 %0.25 %to0.50 %17.67 %to17.97 %
December 31, 202010 $11.75 to$11.75 $119 7.12 %0.25 %to0.25 %20.30 %to20.30 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
Fidelity® VIP Consumer Discretionary Portfolio (Initial Class) (available February 24, 2020)
December 31, 202230 $10.02 to$10.09 $307 0.00 %0.25 %to0.50 %-34.96 %to-34.80 %
December 31, 2021$15.41 to$15.44 $112 0.00 %0.40 %to0.50 %18.81 %to18.93 %
December 31, 2020— $12.98 to$12.98 $— 0.00 %0.40 %to0.40 %34.38 %to34.38 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
Fidelity® VIP Disciplined Small Cap Portfolio (Initial Class) (available February 24, 2020)
December 31, 202252 $11.69 to$11.78 $616 0.87 %0.25 %to0.50 %-18.64 %to-18.44 %
December 31, 202129 $14.37 to$14.44 $420 0.41 %0.25 %to0.50 %20.05 %to20.36 %
December 31, 202026 $11.98 to$12.00 $317 2.69 %0.25 %to0.40 %23.40 %to23.56 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
Fidelity® VIP Emerging Markets Portfolio (Initial Class) (available February 24, 2020)
December 31, 2022109 $10.24 to$10.32 $1,116 1.96 %0.25 %to0.50 %-20.51 %to-20.31 %
December 31, 202176 $12.89 to$12.95 $988 3.53 %0.25 %to0.50 %-2.73 %to-2.49 %
December 31, 2020$13.26 to$13.26 $0.00 %0.40 %to0.40 %37.43 %to37.43 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
Fidelity® VIP Financial Services Portfolio (Initial Class) (available February 24, 2020)
December 31, 202235 $12.06 to$12.14 $424 1.98 %0.25 %to0.50 %-8.79 %to-8.56 %
December 31, 2021$13.22 to$13.24 $101 3.20 %0.40 %to0.50 %32.53 %to32.66 %
December 31, 2020— $9.98 to$9.98 $— 0.00 %0.40 %to0.40 %3.11 %to3.11 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
Fidelity® VIP Floating Rate High Income Portfolio (Initial Class) (available February 24, 2020)
December 31, 2022127 $10.56 to$10.64 $1,344 4.52 %0.25 %to0.50 %-1.01 %to-0.76 %
December 31, 202139 $10.67 to$10.72 $415 5.09 %0.25 %to0.50 %4.68 %to4.95 %
December 31, 2020$10.20 to$10.20 $11 28.53 %0.40 %to0.40 %2.25 %to2.25 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
Fidelity® VIP Health Care Portfolio (Initial Class) (available February 24, 2020)
December 31, 202252 $11.31 to$11.40 $588 0.00 %0.25 %to0.50 %-12.85 %to-12.63 %
December 31, 202119 $12.98 to$13.01 $248 0.01 %0.40 %to0.50 %11.17 %to11.29 %
December 31, 2020— (1)$11.68 to$11.68 $0.00 %0.50 %to0.50 %22.24 %to22.24 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
Fidelity® VIP Industrials Portfolio (Initial Class) (available February 24, 2020)
December 31, 202234 $11.21 to$11.29 $387 0.18 %0.25 %to0.50 %-10.75 %to-10.53 %
December 31, 2021$12.56 to$12.58 $43 0.00 %0.40 %to0.50 %16.50 %to16.62 %
December 31, 2020— (1)$10.78 to$10.78 $0.85 %0.50 %to0.50 %11.80 %to11.80 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
Fidelity® VIP International Capital Appreciation Portfolio (Initial Class) (available February 24, 2020)
December 31, 202278 $9.68 to$9.75 $760 0.33 %0.25 %to0.50 %-26.76 %to-26.58 %
December 31, 202142 $13.22 to$13.28 $558 0.00 %0.25 %to0.50 %11.78 %to12.06 %
December 31, 2020$11.83 to$11.84 $31 0.86 %0.40 %to0.50 %22.50 %to22.61 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
A180


Note 7:    Financial Highlights (continued)
At the year endedFor the year ended
Units
(000s)
Unit Value
Lowest — Highest
Net
Assets (000s)
Investment
Income
Ratio*
Expense Ratio**
Lowest — Highest
Total Return***
Lowest — Highest
Fidelity® VIP Mid Cap Portfolio (Initial Class) (available February 24, 2020)
December 31, 202276 $12.23 to$12.32 $932 0.55 %0.25 %to0.50 %-15.17 %to-14.96 %
December 31, 202140 $14.42 to$14.49 $582 0.74 %0.25 %to0.50 %24.97 %to25.29 %
December 31, 202027 $11.54 to$11.56 $309 2.49 %0.25 %to0.50 %18.90 %to19.16 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
Fidelity® VIP Strategic Income Portfolio (Initial Class) (available February 24, 2020)
December 31, 202289 $9.58 to$9.65 $859 6.24 %0.25 %to0.50 %-11.70 %to-11.48 %
December 31, 2021$10.85 to$10.87 $90 5.99 %0.40 %to0.50 %3.22 %to3.32 %
December 31, 2020$10.52 to$10.52 $15 18.54 %0.40 %to0.40 %5.68 %to5.68 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
Fidelity® VIP Technology Portfolio (Initial Class) (available February 24, 2020)
December 31, 202250 $12.19 to$12.28 $616 0.00 %0.25 %to0.50 %-36.18 %to-36.02 %
December 31, 202122 $19.10 to$19.19 $421 0.00 %0.25 %to0.50 %27.52 %to27.84 %
December 31, 2020$14.98 to$14.99 $11 0.00 %0.40 %to0.50 %56.17 %to56.30 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
Fidelity® VIP Utilities Portfolio (Initial Class) (available February 24, 2020)
December 31, 202215 $11.36 to$11.39 $169 2.21 %0.40 %to0.50 %4.90 %to5.00 %
December 31, 2021$10.83 to$10.85 $18 7.50 %0.40 %to0.50 %16.91 %to17.03 %
December 31, 2020— $9.27 to$9.27 $— 0.00 %0.40 %to0.40 %-6.09 %to-6.09 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
ClearBridge Variable Mid Cap Portfolio (Class I) (available February 24, 2020)
December 31, 202225 $10.61 to$10.69 $269 0.39 %0.25 %to0.50 %-25.69 %to-25.50 %
December 31, 202117 $14.28 to$14.31 $239 0.03 %0.40 %to0.50 %28.06 %to28.19 %
December 31, 2020— (1)$11.16 to$11.16 $0.69 %0.40 %to0.40 %15.11 %to15.11 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
ClearBridge Variable Small Cap Growth Portfolio (Class I) (available February 24, 2020)
December 31, 202267 $10.79 to$10.87 $728 0.00 %0.25 %to0.50 %-29.20 %to-29.02 %
December 31, 202160 $15.25 to$15.32 $913 0.00 %0.25 %to0.50 %12.05 %to12.33 %
December 31, 202023 $13.61 to$13.64 $315 0.00 %0.25 %to0.50 %40.46 %to40.76 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
Western Asset Core Plus VIT Portfolio (Class I) (available February 24, 2020)
December 31, 2022240 $8.52 to$8.56 $2,050 2.10 %0.35 %to0.50 %-17.64 %to-17.52 %
December 31, 2021229 $10.35 to$10.38 $2,372 4.94 %0.35 %to0.50 %-2.46 %to-2.31 %
December 31, 202013 $10.61 to$10.62 $133 13.51 %0.40 %to0.50 %6.11 %to6.20 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
Western Asset Variable Global High Yield Bond Portfolio (Class I) (available February 24, 2020)
December 31, 2022$9.12 to$9.15 $53 6.52 %0.40 %to0.50 %-14.15 %to-14.07 %
December 31, 2021$10.63 to$10.65 $73 5.24 %0.40 %to0.50 %0.82 %to0.92 %
December 31, 2020$10.54 to$10.55 $11.46 %0.40 %to0.50 %5.98 %to6.07 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
MFS® Mid Cap Growth Series (Initial Class) (available February 24, 2020)
December 31, 202260 $10.26 to$10.33 $613 0.00 %0.25 %to0.50 %-29.05 %to-28.88 %
December 31, 202141 $14.46 to$14.50 $600 0.00 %0.35 %to0.50 %13.54 %to13.71 %
December 31, 2020$12.73 to$12.74 $15 0.00 %0.40 %to0.50 %30.65 %to30.76 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %

A181


Note 7:    Financial Highlights (continued)
At the year endedFor the year ended
Units
(000s)
Unit Value
Lowest — Highest
Net
Assets (000s)
Investment
Income
Ratio*
Expense Ratio**
Lowest — Highest
Total Return***
Lowest — Highest
MFS® International Intrinsic Value Portfolio (Initial Class) (available February 24, 2020)
December 31, 202233 $9.96 to$10.03 $325 0.82 %0.25 %to0.50 %-23.94 %to-23.75 %
December 31, 202117 $13.10 to$13.12 $223 0.40 %0.40 %to0.50 %10.00 %to10.11 %
December 31, 2020$11.91 to$11.92 $64 0.00 %0.40 %to0.50 %23.14 %to23.24 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
MFS® Massachusetts Investors Growth Stock Portfolio (Initial Class) (available February 24, 2020)
December 31, 2022$11.86 to$11.91 $65 0.13 %0.35 %to0.50 %-19.66 %to-19.54 %
December 31, 2021$14.76 to$14.76 $35 0.29 %0.50 %to0.50 %25.34 %to25.34 %
December 31, 2020— (1)$11.78 to$11.78 $0.00 %0.50 %to0.50 %22.11 %to22.11 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
MFS® International Growth Portfolio (Service Class) (available April 27, 2020)
December 31, 2022375 $12.07 to$12.34 $4,575 0.47 %0.48 %to1.30 %-16.28 %to-15.59 %
December 31, 2021164 $14.42 to$14.62 $2,399 0.43 %0.48 %to1.30 %4.47 %to8.47 %
December 31, 202058 $13.44 to$13.48 $787 0.92 %0.48 %to0.86 %32.37 %to32.71 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
MFS® Massachusetts Investors Growth Stock Portfolio (Service Class) (available April 27, 2020)
December 31, 202293 $13.45 to$13.59 $1,264 0.00 %0.48 %to0.86 %-20.14 %to-19.83 %
December 31, 202150 $16.84 to$16.95 $846 0.04 %0.48 %to0.86 %24.58 %to25.05 %
December 31, 202026 $13.52 to$13.56 $351 0.14 %0.48 %to0.86 %33.08 %to33.42 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
MFS® Technology Portfolio (Service Class) (available April 27, 2020)
December 31, 2022993 $10.43 to$10.54 $10,442 0.00 %0.48 %to0.86 %-36.40 %to-36.16 %
December 31, 2021829 $16.40 to$16.51 $13,673 0.00 %0.48 %to0.86 %12.45 %to12.88 %
December 31, 2020518 $14.58 to$14.62 $7,568 0.00 %0.48 %to0.86 %44.68 %to45.06 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
MFS® Investors Trust Series (Service Class) (available April 27, 2020)
December 31, 202230 $13.51 to$13.60 $402 0.41 %0.48 %to0.73 %-17.30 %to-17.09 %
December 31, 202132 $16.34 to$16.41 $520 0.46 %0.48 %to0.73 %25.58 %to25.90 %
December 31, 202011 $13.01 to$13.03 $149 0.55 %0.48 %to0.73 %27.78 %to28.00 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
MFS® Mid Cap Growth Series (Service Class) (available April 27, 2020)
December 31, 2022559 $11.76 to$11.88 $6,632 0.00 %0.48 %to0.86 %-29.40 %to-29.13 %
December 31, 2021467 $16.66 to$16.77 $7,817 0.00 %0.48 %to0.86 %12.90 %to13.33 %
December 31, 2020231 $14.75 to$14.79 $3,420 0.00 %0.48 %to0.86 %44.30 %to44.67 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
MFS® New Discovery Series (Service Class) (available April 27, 2020)
December 31, 2022230 $11.67 to$11.79 $2,708 0.00 %0.48 %to0.86 %-30.60 %to-30.33 %
December 31, 2021208 $16.81 to$16.92 $3,508 0.00 %0.48 %to0.86 %0.70 %to1.09 %
December 31, 202087 $16.70 to$16.74 $1,448 0.00 %0.48 %to0.86 %61.70 %to62.11 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
MFS® Research Series (Service Class) (available April 27, 2020)
December 31, 202236 $13.09 to$13.23 $477 0.19 %0.48 %to0.86 %-18.14 %to-17.83 %
December 31, 202131 $15.99 to$16.09 $494 0.37 %0.48 %to0.86 %23.44 %to23.92 %
December 31, 202020 $12.95 to$12.99 $259 0.46 %0.48 %to0.86 %27.73 %to28.06 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
A182


Note 7:    Financial Highlights (continued)
At the year endedFor the year ended
Units
(000s)
Unit Value
Lowest — Highest
Net
Assets (000s)
Investment
Income
Ratio*
Expense Ratio**
Lowest — Highest
Total Return***
Lowest — Highest
MFS® Total Return Bond Series (Service Class) (available April 27, 2020)
December 31, 20222,032 $8.83 to$9.03 $18,161 2.72 %0.48 %to1.30 %-15.30 %to-14.59 %
December 31, 20211,053 $10.43 to$10.58 $11,112 2.64 %0.48 %to1.30 %-1.92 %to-0.45 %
December 31, 2020649 $10.72 to$10.74 $6,968 3.40 %0.48 %to0.73 %7.48 %to7.66 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
MFS® Total Return Series (Service Class) (available April 27, 2020)
December 31, 20221,503 $11.99 to$12.21 $18,134 1.80 %0.48 %to1.30 %-11.01 %to-10.27 %
December 31, 2021511 $13.48 to$13.60 $6,941 1.79 %0.48 %to1.30 %4.19 %to13.29 %
December 31, 2020316 $11.98 to$12.01 $3,796 1.97 %0.48 %to0.86 %18.27 %to18.58 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
MFS® Utilities Series (Service Class) (available April 27, 2020)
December 31, 2022600 $13.63 to$13.77 $8,254 2.44 %0.48 %to0.86 %-0.38 %to0.00 %
December 31, 2021295 $13.69 to$13.77 $4,054 1.61 %0.48 %to0.86 %12.84 %to13.28 %
December 31, 2020144 $12.13 to$12.16 $1,752 1.67 %0.48 %to0.86 %19.22 %to19.53 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
Fidelity® VIP Contrafund® Portfolio (Service Class 2) (available August 17, 2020)
December 31, 2022654 $10.11 to$10.20 $6,667 0.33 %0.48 %to0.86 %-27.12 %to-26.84 %
December 31, 2021415 $13.87 to$13.95 $5,777 0.01 %0.48 %to0.86 %26.42 %to26.90 %
December 31, 2020128 $10.98 to$10.99 $1,406 0.00 %0.48 %to0.73 %8.94 %to9.04 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
American Funds IS Asset Allocation Fund (Class 4) (available August 17, 2020)
December 31, 20222,126 $10.59 to$10.69 $22,655 1.67 %0.48 %to0.86 %-14.40 %to-14.08 %
December 31, 20212,036 $12.37 to$12.44 $25,283 1.72 %0.48 %to0.86 %13.85 %to14.29 %
December 31, 2020412 $10.87 to$10.88 $4,479 2.01 %0.48 %to0.86 %8.38 %to8.53 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
American Funds IS Washington Mutual Investors Fund℠ (Class 4) (available August 17, 2020)
December 31, 2022641 $12.72 to$12.83 $8,216 1.95 %0.48 %to0.86 %-9.47 %to-9.12 %
December 31, 2021408 $14.05 to$14.12 $5,754 1.76 %0.48 %to0.86 %26.42 %to26.90 %
December 31, 202084 $11.11 to$11.13 $940 2.50 %0.48 %to0.86 %11.02 %to11.18 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
American Funds IS The Bond Fund of America® (Class 4) (available August 17, 2020)
December 31, 2022905 $8.63 to$8.71 $7,862 2.95 %0.48 %to0.86 %-13.50 %to-13.17 %
December 31, 2021606 $9.97 to$10.03 $6,067 1.62 %0.48 %to0.86 %-1.44 %to-1.06 %
December 31, 202094 $10.13 to$10.13 $953 2.52 %0.48 %to0.68 %1.27 %to1.34 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
American Funds IS Capital World Growth and Income Fund® (Class 4) (available August 17, 2020)
December 31, 2022392 $10.51 to$10.61 $4,150 2.35 %0.48 %to0.86 %-18.28 %to-17.97 %
December 31, 2021282 $12.87 to$12.93 $3,641 2.36 %0.48 %to0.86 %13.48 %to13.91 %
December 31, 202057 $11.34 to$11.35 $650 1.18 %0.48 %to0.86 %12.99 %to13.15 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
American Funds IS Global Small Capitalization Fund (Class 4) (available August 17, 2020)
December 31, 2022180 $9.15 to$9.23 $1,658 0.00 %0.48 %to0.86 %-30.29 %to-30.03 %
December 31, 2021156 $13.15 to$13.19 $2,052 0.00 %0.48 %to0.73 %5.65 %to5.92 %
December 31, 202023 $12.45 to$12.46 $290 0.00 %0.48 %to0.66 %23.41 %to23.49 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
A183


Note 7:    Financial Highlights (continued)
At the year endedFor the year ended
Units
(000s)
Unit Value
Lowest — Highest
Net
Assets (000s)
Investment
Income
Ratio*
Expense Ratio**
Lowest — Highest
Total Return***
Lowest — Highest
American Funds IS Growth Fund (Class 4) (available August 17, 2020)
December 31, 20221,356 $10.22 to$10.31 $13,961 0.11 %0.48 %to0.86 %-30.71 %to-30.45 %
December 31, 2021895 $14.75 to$14.83 $13,257 0.05 %0.48 %to0.86 %20.64 %to21.10 %
December 31, 2020184 $12.23 to$12.25 $2,248 0.00 %0.48 %to0.86 %20.33 %to20.50 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
American Funds IS Growth-Income Fund (Class 4) (available August 17, 2020)
December 31, 2022493 $11.20 to$11.30 $5,564 1.19 %0.48 %to0.86 %-17.42 %to-17.10 %
December 31, 2021384 $13.56 to$13.64 $5,228 1.36 %0.48 %to0.86 %22.74 %to23.21 %
December 31, 202095 $11.05 to$11.07 $1,054 1.28 %0.48 %to0.86 %10.12 %to10.28 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
American Funds IS International Fund (Class 4) (available August 17, 2020)
December 31, 2022227 $9.17 to$9.22 $2,089 1.71 %0.48 %to0.73 %-21.60 %to-21.40 %
December 31, 2021152 $11.69 to$11.73 $1,786 3.69 %0.48 %to0.73 %-2.43 %to-2.18 %
December 31, 202019 $11.98 to$11.99 $224 0.40 %0.48 %to0.86 %19.41 %to19.58 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
American Funds IS New World Fund® (Class 4) (available August 17, 2020)
December 31, 2022300 $9.53 to$9.61 $2,875 1.19 %0.48 %to0.86 %-22.92 %to-22.63 %
December 31, 2021220 $12.36 to$12.42 $2,725 0.82 %0.48 %to0.86 %3.73 %to4.13 %
December 31, 202059 $11.92 to$11.93 $708 0.00 %0.48 %to0.73 %18.51 %to18.62 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
BlackRock Advantage Large Cap Core V.I. Fund (Class III) (available August 17, 2020)
December 31, 2022355 $11.27 to$11.38 $4,032 0.78 %0.48 %to0.86 %-20.84 %to-20.54 %
December 31, 2021286 $14.24 to$14.32 $4,093 0.09 %0.48 %to0.86 %26.96 %to27.45 %
December 31, 202034 $11.22 to$11.23 $382 1.56 %0.48 %to0.86 %11.55 %to11.70 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
BlackRock Advantage Large Cap Value V.I. Fund (Class III) (available August 17, 2020)
December 31, 2022238 $12.82 to$12.90 $3,071 1.81 %0.48 %to0.73 %-9.08 %to-8.85 %
December 31, 202190 $14.10 to$14.15 $1,270 1.84 %0.48 %to0.73 %25.30 %to25.61 %
December 31, 202024 $11.26 to$11.27 $270 2.41 %0.48 %to0.73 %12.70 %to12.80 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
BlackRock Basic Value V.I. Fund (Class III) (available August 17, 2020)
December 31, 2022166 $13.05 to$13.11 $2,172 1.33 %0.48 %to0.68 %-5.77 %to-5.58 %
December 31, 202180 $13.85 to$13.89 $1,116 1.53 %0.48 %to0.68 %20.51 %to20.76 %
December 31, 2020$11.50 to$11.50 $22 5.43 %0.48 %to0.48 %15.31 %to15.31 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
BlackRock Capital Appreciation V.I. Fund (Class III) (available August 17, 2020)
December 31, 2022180 $8.56 to$8.64 $1,553 0.00 %0.48 %to0.86 %-38.35 %to-38.11 %
December 31, 2021160 $13.91 to$13.96 $2,228 0.00 %0.48 %to0.73 %20.01 %to20.31 %
December 31, 202018 $11.59 to$11.60 $206 0.00 %0.48 %to0.68 %14.97 %to15.06 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
BlackRock Equity Dividend V.I. Fund (Class III) (available August 17, 2020)
December 31, 2022310 $12.80 to$12.88 $3,983 1.51 %0.48 %to0.73 %-4.80 %to-4.56 %
December 31, 2021208 $13.45 to$13.49 $2,807 1.32 %0.48 %to0.73 %19.42 %to19.72 %
December 31, 202056 $11.26 to$11.27 $629 0.98 %0.48 %to0.68 %12.84 %to12.92 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %


A184


Note 7:    Financial Highlights (continued)
At the year endedFor the year ended
Units
(000s)
Unit Value
Lowest — Highest
Net
Assets (000s)
Investment
Income
Ratio*
Expense Ratio**
Lowest — Highest
Total Return***
Lowest — Highest
BlackRock Large Cap Focus Growth V.I. Fund (Class III) (available August 17, 2020)
December 31, 2022231 $8.17 to$8.21 $1,898 0.00 %0.48 %to0.73 %-38.70 %to-38.55 %
December 31, 2021159 $13.32 to$13.37 $2,121 0.00 %0.48 %to0.73 %16.92 %to17.22 %
December 31, 202028 $11.40 to$11.40 $318 0.00 %0.48 %to0.66 %12.81 %to12.88 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
Fidelity® VIP Balanced Portfolio (Service Class 2) (available August 17, 2020)
December 31, 20221,855 $10.58 to$10.68 $19,782 1.09 %0.48 %to0.86 %-18.89 %to-18.58 %
December 31, 20211,435 $13.05 to$13.12 $18,796 0.90 %0.48 %to0.86 %16.98 %to17.42 %
December 31, 2020340 $11.16 to$11.17 $3,797 1.64 %0.48 %to0.86 %11.30 %to11.46 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
Fidelity® VIP Growth Opportunities Portfolio (Service Class 2) (available August 17, 2020)
December 31, 20221,170 $8.37 to$8.44 $9,872 0.00 %0.48 %to0.86 %-38.85 %to-38.61 %
December 31, 2021861 $13.68 to$13.76 $11,832 0.00 %0.48 %to0.86 %10.71 %to11.13 %
December 31, 2020284 $12.36 to$12.38 $3,514 0.00 %0.48 %to0.86 %22.29 %to22.47 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
Fidelity® VIP Health Care Portfolio (Service Class 2) (available August 17, 2020)
December 31, 2022832 $10.42 to$10.51 $8,730 0.00 %0.48 %to0.86 %-13.37 %to-13.04 %
December 31, 2021623 $12.03 to$12.09 $7,524 0.03 %0.48 %to0.86 %10.49 %to10.91 %
December 31, 2020184 $10.89 to$10.90 $2,005 0.82 %0.48 %to0.86 %7.63 %to7.78 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
AST Bond Portfolio 2032 (available January 4, 2021)
December 31, 20227,149 $7.13 to$7.37 $51,878 0.00 %1.30 %to2.95 %-22.46 %to-21.19 %
December 31, 20214,353 $9.20 to$9.35 $40,391 0.00 %1.30 %to2.95 %-7.99 %to-6.50 %
December 31, 2020— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
PSF Global Portfolio (Class III) (available April 26, 2021)
December 31, 202266 $8.52 to$8.58 $568 0.00 %0.48 %to0.86 %-19.70 %to-19.39 %
December 31, 202115 $10.63 to$10.64 $160 0.00 %0.48 %to0.66 %6.00 %to6.13 %
December 31, 2020— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
PSF Mid-Cap Growth Portfolio (Class III) (available April 26, 2021)
December 31, 2022112 $7.40 to$7.43 $835 0.00 %0.48 %to0.73 %-27.69 %to-27.51 %
December 31, 202149 $10.23 to$10.24 $498 0.00 %0.48 %to0.68 %1.12 %to1.26 %
December 31, 2020— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
PSF Natural Resources Portfolio (Class III) (available April 26, 2021)
December 31, 2022369 $13.26 to$13.34 $4,919 0.00 %0.48 %to0.86 %20.83 %to21.29 %
December 31, 202159 $10.99 to$11.00 $647 0.00 %0.48 %to0.68 %8.26 %to8.41 %
December 31, 2020— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
PSF PGIM 50/50 Balanced Portfolio (Class III) (available April 26, 2021)
December 31, 2022554 $9.06 to$9.10 $5,031 0.00 %0.48 %to0.73 %-15.52 %to-15.31 %
December 31, 2021170 $10.72 to$10.74 $1,829 0.00 %0.48 %to0.68 %7.17 %to7.31 %
December 31, 2020— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %


A185


Note 7:    Financial Highlights (continued)
At the year endedFor the year ended
Units
(000s)
Unit Value
Lowest — Highest
Net
Assets (000s)
Investment
Income
Ratio*
Expense Ratio**
Lowest — Highest
Total Return***
Lowest — Highest
PSF PGIM Flexible Managed Portfolio (Class III) (available April 26, 2021)
December 31, 2022300 $9.07 to$9.13 $2,739 0.00 %0.48 %to0.86 %-15.64 %to-15.32 %
December 31, 2021148 $10.77 to$10.78 $1,591 0.00 %0.48 %to0.68 %7.54 %to7.69 %
December 31, 2020— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
PSF PGIM Government Income Portfolio (Class III) (available April 26, 2021)
December 31, 2022170 $8.44 to$8.48 $1,442 0.00 %0.48 %to0.73 %-14.32 %to-14.10 %
December 31, 202123 $9.85 to$9.87 $222 0.00 %0.48 %to0.68 %-1.38 %to-1.24 %
December 31, 2020— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
PSF PGIM High Yield Bond Portfolio (Class III) (available April 26, 2021)
December 31, 2022744 $9.07 to$9.13 $6,786 0.00 %0.48 %to0.86 %-12.17 %to-11.84 %
December 31, 2021413 $10.33 to$10.36 $4,280 0.00 %0.48 %to0.86 %3.13 %to3.40 %
December 31, 2020— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
PSF PGIM Jennison Blend Portfolio (Class III) (available April 26, 2021)
December 31, 202276 $8.24 to$8.27 $631 0.00 %0.48 %to0.73 %-25.83 %to-25.64 %
December 31, 202141 $11.10 to$11.12 $454 0.00 %0.48 %to0.73 %10.14 %to10.33 %
December 31, 2020— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
PSF PGIM Jennison Focused Blend Portfolio (Class III) (available April 26, 2021)
December 31, 202247 $7.84 to$7.88 $369 0.00 %0.48 %to0.73 %-26.49 %to-26.30 %
December 31, 202137 $10.68 to$10.69 $397 0.00 %0.48 %to0.66 %5.85 %to5.98 %
December 31, 2020— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
PSF PGIM Jennison Growth Portfolio (Class III) (available April 26, 2021)
December 31, 2022638 $6.83 to$6.85 $4,366 0.00 %0.48 %to0.73 %-38.21 %to-38.05 %
December 31, 2021336 $11.05 to$11.06 $3,715 0.00 %0.48 %to0.73 %9.18 %to9.37 %
December 31, 2020— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
PSF PGIM Jennison Value Portfolio (Class III) (available April 26, 2021)
December 31, 2022180 $10.09 to$10.13 $1,822 0.00 %0.48 %to0.73 %-8.79 %to-8.56 %
December 31, 202170 $11.07 to$11.08 $774 0.00 %0.48 %to0.68 %10.43 %to10.58 %
December 31, 2020— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
PSF PGIM Total Return Bond Portfolio (Class III) (available April 26, 2021)
December 31, 2022724 $8.54 to$8.58 $6,204 0.00 %0.48 %to0.73 %-15.71 %to-15.50 %
December 31, 2021386 $10.14 to$10.16 $3,917 0.00 %0.48 %to0.73 %1.38 %to1.56 %
December 31, 2020— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
PSF Small-Cap Stock Index Portfolio (Class III) (available April 26, 2021)
December 31, 2022831 $8.58 to$8.63 $7,167 0.00 %0.48 %to0.86 %-17.30 %to-16.98 %
December 31, 2021472 $10.37 to$10.40 $4,903 0.00 %0.48 %to0.86 %3.20 %to3.47 %
December 31, 2020— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %


A186


Note 7:    Financial Highlights (continued)
At the year endedFor the year ended
Units
(000s)
Unit Value
Lowest — Highest
Net
Assets (000s)
Investment
Income
Ratio*
Expense Ratio**
Lowest — Highest
Total Return***
Lowest — Highest
PSF Stock Index Portfolio (Class III) (available April 26, 2021)
December 31, 20222,070 $9.21 to$9.27 $19,160 0.00 %0.48 %to0.86 %-19.24 %to-18.93 %
December 31, 20211,037 $11.40 to$11.43 $11,846 0.00 %0.48 %to0.86 %13.80 %to14.10 %
December 31, 2020— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
PSF PGIM Government Income Portfolio (Class I) (available February 24, 2020)
December 31, 202246 $8.64 to$8.66 $398 0.00 %0.40 %to0.50 %-13.88 %to-13.80 %
December 31, 202125 $10.03 to$10.05 $255 0.00 %0.40 %to0.50 %-3.65 %to-3.56 %
December 31, 2020— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
Fidelity® VIP High Income Portfolio (Initial Class) (available February 24, 2020)
December 31, 2022$9.32 to$9.35 $81 4.01 %0.40 %to0.50 %-11.82 %to-11.73 %
December 31, 2021$10.57 to$10.59 $100 13.90 %0.40 %to0.50 %3.89 %to3.99 %
December 31, 2020— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
MFS® Investors Trust Series (Initial Class) (available February 24, 2020)
December 31, 202248 $11.56 to$11.61 $554 0.70 %0.35 %to0.50 %-16.91 %to-16.78 %
December 31, 202150 $13.92 to$13.96 $700 0.89 %0.35 %to0.50 %26.18 %to26.37 %
December 31, 2020— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
MFS® Utilities Series (Initial Class) (available February 24, 2020)
December 31, 202233 $11.21 to$11.26 $368 3.70 %0.25 %to0.40 %0.35 %to0.50 %
December 31, 2021$11.17 to$11.17 $76 2.85 %0.40 %to0.40 %13.64 %to13.64 %
December 31, 2020— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
MFS® Value Series (Initial Class) (available February 24, 2020)
December 31, 202258 $11.88 to$11.96 $691 1.26 %0.25 %to0.50 %-6.38 %to-6.14 %
December 31, 202166 $12.69 to$12.74 $834 1.53 %0.25 %to0.50 %24.83 %to25.14 %
December 31, 2020— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
Vanguard Capital Growth Portfolio (available February 24, 2020)
December 31, 202224 $11.49 to$11.57 $277 0.87 %0.60 %to0.85 %-16.20 %to-15.99 %
December 31, 202126 $13.71 to$13.77 $360 0.22 %0.60 %to0.85 %20.51 %to20.81 %
December 31, 2020— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
Vanguard Diversified Value Portfolio (available February 24, 2020)
December 31, 2022105 $12.43 to$12.52 $1,313 0.98 %0.60 %to0.85 %-12.24 %to-12.02 %
December 31, 202154 $14.17 to$14.23 $765 0.31 %0.60 %to0.85 %29.36 %to29.68 %
December 31, 2020— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
Vanguard Equity Income Portfolio (available February 24, 2020)
December 31, 202270 $12.44 to$12.53 $868 1.58 %0.60 %to0.85 %-1.50 %to-1.26 %
December 31, 202134 $12.63 to$12.69 $431 0.00 %0.60 %to0.85 %24.27 %to24.58 %
December 31, 2020— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
A187


Note 7:    Financial Highlights (continued)
At the year endedFor the year ended
Units
(000s)
Unit Value
Lowest — Highest
Net
Assets (000s)
Investment
Income
Ratio*
Expense Ratio**
Lowest — Highest
Total Return***
Lowest — Highest
Vanguard International Portfolio (available February 24, 2020)
December 31, 202284 $10.26 to$10.34 $866 1.31 %0.60 %to0.85 %-30.71 %to-30.54 %
December 31, 202161 $14.81 to$14.88 $908 0.03 %0.60 %to0.85 %-2.38 %to-2.13 %
December 31, 2020— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
American Funds IS Ultra-Short Bond Fund (Class 1) (available February 24, 2020)
December 31, 2022128 $9.87 to$9.94 $1,265 1.42 %0.60 %to0.85 %0.56 %to0.81 %
December 31, 202133 $9.82 to$9.83 $322 0.00 %0.75 %to0.85 %-1.20 %to-1.09 %
December 31, 2020— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
BlackRock Advantage Large Cap Core V.I. Fund (Class I) (available February 24, 2020)
December 31, 202235 $11.63 to$11.68 $412 1.65 %0.35 %to0.50 %-20.39 %to-20.27 %
December 31, 202119 $14.61 to$14.64 $272 3.03 %0.40 %to0.50 %27.80 %to27.93 %
December 31, 2020— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
BlackRock Large Cap Focus Growth V.I. Fund (Class I) (available February 24, 2020)
December 31, 202269 $9.44 to$9.48 $649 0.00 %0.35 %to0.50 %-38.42 %to-38.32 %
December 31, 202122 $15.32 to$15.35 $342 0.00 %0.40 %to0.50 %17.50 %to17.62 %
December 31, 2020— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
DFA VA Global Moderate Allocation Portfolio (available February 24, 2020)
December 31, 2022160 $11.01 to$11.09 $1,770 1.66 %0.60 %to0.85 %-11.71 %to-11.49 %
December 31, 2021127 $12.47 to$12.53 $1,588 2.37 %0.60 %to0.85 %13.24 %to13.52 %
December 31, 2020— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
DFA VA International Small Portfolio (available February 24, 2020)
December 31, 202237 $10.43 to$10.51 $384 4.01 %0.60 %to0.85 %-18.34 %to-18.14 %
December 31, 202112 $12.78 to$12.84 $154 4.41 %0.60 %to0.85 %13.59 %to13.88 %
December 31, 2020— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
DFA VA International Value Portfolio (available February 24, 2020)
December 31, 202226 $11.47 to$11.55 $300 4.42 %0.60 %to0.85 %-4.27 %to-4.03 %
December 31, 202123 $11.98 to$12.03 $273 9.43 %0.60 %to0.85 %17.11 %to17.41 %
December 31, 2020— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
ClearBridge Variable Aggressive Growth Portfolio (Class I) (available February 24, 2020)
December 31, 2022— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2021— $12.55 to$12.55 $— 0.00 %0.40 %to0.40 %9.86 %to9.86 %
December 31, 2020— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
ClearBridge Variable Appreciation Portfolio (Class I) (available February 24, 2020)
December 31, 2022$11.98 to$12.02 $48 1.41 %0.40 %to0.50 %-12.88 %to-12.80 %
December 31, 2021$13.78 to$13.78 $26 5.76 %0.40 %to0.40 %23.16 %to23.16 %
December 31, 2020— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
A188


Note 7:    Financial Highlights (continued)
At the year endedFor the year ended
Units
(000s)
Unit Value
Lowest — Highest
Net
Assets (000s)
Investment
Income
Ratio*
Expense Ratio**
Lowest — Highest
Total Return***
Lowest — Highest
ClearBridge Variable Dividend Strategy Portfolio (Class I) (available February 24, 2020)
December 31, 202262 $12.19 to$12.22 $752 1.67 %0.40 %to0.50 %-8.56 %to-8.47 %
December 31, 202131 $13.33 to$13.35 $420 2.40 %0.40 %to0.50 %26.17 %to26.29 %
December 31, 2020— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
ClearBridge Variable Large Cap Growth Portfolio (Class I) (available February 24, 2020)
December 31, 2022$10.07 to$10.10 $74 0.00 %0.40 %to0.50 %-32.58 %to-32.52 %
December 31, 2021$14.94 to$14.97 $107 0.00 %0.40 %to0.50 %21.33 %to21.45 %
December 31, 2020— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
Franklin Multi-Asset Variable Conservative Growth Fund (Class I) (available February 24, 2020)
December 31, 2022$10.39 to$10.39 $22 3.59 %0.40 %to0.40 %-14.52 %to-14.52 %
December 31, 2021— $12.15 to$12.15 $— 0.00 %0.40 %to0.40 %11.02 %to11.02 %
December 31, 2020— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
Franklin Multi-Asset Variable Growth Fund (Class I) (available February 24, 2020)
December 31, 2022$11.24 to$11.24 $75 3.18 %0.50 %to0.50 %-15.22 %to-15.22 %
December 31, 2021$13.26 to$13.29 $89 5.25 %0.40 %to0.50 %20.09 %to20.21 %
December 31, 2020— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
MFS® Technology Portfolio (Initial Class) (available February 24, 2020)
December 31, 202242 $9.68 to$9.69 $407 0.00 %0.35 %to0.40 %-35.96 %to-35.92 %
December 31, 202112 $15.11 to$15.11 $188 0.00 %0.40 %to0.40 %13.23 %to13.23 %
December 31, 2020— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
MFS® Value Series (Service Class) (available October 1, 2021)
December 31, 2022912 $14.50 to$14.54 $13,228 1.49 %1.20 %to1.30 %-7.36 %to-7.27 %
December 31, 202119 $15.65 to$15.65 $304 0.00 %1.30 %to1.30 %6.98 %to6.98 %
December 31, 2020— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
PSF PGIM Government Money Market Portfolio (Class III) (available October 1, 2021)
December 31, 202211,777 $9.92 to$10.13 $118,510 1.87 %0.00 %to1.30 %-0.10 %to1.22 %
December 31, 20213,375 $10.00 to$10.00 $33,768 0.00 %(2)0.00 %to0.00 %0.00 %to0.00 %(2)
December 31, 2020— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
AST Bond Portfolio 2033 (available January 3, 2022)
December 31, 202233 $7.77 to$7.80 $261 0.00 %1.90 %to2.30 %-22.31 %to-22.00 %
December 31, 2021— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2020— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2019— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
December 31, 2018— $— to$— $— 0.00 %0.00 %to0.00 %0.00 %to0.00 %
A189


Note 7:    Financial Highlights (continued)
*
These amounts represent the dividends, excluding distributions of capital gains, received by the subaccount from the underlying Portfolios, net of management fees assessed by the fund manager, divided by the average daily net assets. These ratios exclude those expenses, such as mortality and expense risk and administration charges, that result in direct reductions in the unit values. The recognition of investment income by the subaccount is affected by the timing of the declaration of dividends by the underlying Portfolios in which the subaccount invests.
**
These amounts represent the annualized contract expenses of the Account, consisting primarily of mortality and expense risk and administration charges, for each period indicated. The ratios include only those expenses that result in a direct reduction to unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Portfolios are excluded.
***
These amounts represent the total returns for the periods indicated, including changes in the value of the underlying Portfolios, and reflect deductions for all items included in the expense ratio. The total return does not include any expenses assessed through the redemption of units; inclusion of these expenses in the calculation would result in a reduction in the total return presented. Product designs within a subaccount which were offered less than one year are included in the range of total returns for that period, and their respective total returns may not correspond to the total returns of a product offering with a comparable expense ratio that was presented for the full period. Contract owners may experience different total returns based on their investment options. Subaccounts with a date notation indicate the effective date of that subaccount in the Account. Total returns for periods less than one year are not annualized. The total return is calculated for each of the five years in the period ended December 31, 2022 or for the periods indicated within.
(1)
Amount is less than 1,000 units and/or $1,000 in net assets.
(2)
Amount is less than 0.01%.

Note 8:    Charges and Expenses

The following represents the various charges and expenses of the Account which are paid to Pruco Life.

A.Mortality and Expense Risk Charges

The mortality and expense risk charges are applied daily against the net assets of each subaccount. Mortality risk is the risk that contract owners may live longer than estimated and expense risk is the risk that the cost of issuing and administering the contracts may exceed related charges assessed by Pruco Life. These charges are assessed through a reduction in unit values.

B.Administration Charge

The administration charge is applied daily against the net assets of each subaccount. Administration charge includes costs associated with issuing the contracts, establishing and maintaining records, and providing reports to contract owners. Effective February 24, 2020, under the Prudential MyRock Advisor Variable Annuity product, a fund access charge is assessed on the account value invested in certain subaccounts associated with funds that do not provide adequate revenue. This charge is assessed through a reduction in unit values.

The following are the base and maximum combined mortality and expense risk and administration charges of the respective contracts.
ProductsBaseMaximum
Discovery Choice1.35%1.65%
Discovery Preferred1.40%1.40%
Discovery Select1.40%1.40%
Prudential Defined Income Annuity1.10%1.90%
Prudential FlexGuard1.20%1.30%
Prudential FlexGuard Income1.20%1.30%
Prudential MyRock Advisor Variable Annuity0.25%2.10%
Prudential Premier Advisor Variable Annuity Series(1)
0.35% / 0.55%1.95%
Prudential Premier Investment Variable Annuity B Series(2)
0.48% / 0.55%0.73%
Prudential Premier Investment Variable Annuity C Series0.68%0.86%
Prudential Premier Retirement Variable Annuity0.85%0.85%
Prudential Premier Retirement Variable Annuity B Series1.30%2.70%
Prudential Premier Retirement Variable Annuity C Series1.30%3.15%
Prudential Premier Retirement Variable Annuity L Series1.30%3.10%
Prudential Premier Retirement Variable Annuity X Series1.30%3.25%
Prudential Premier Variable Annuity B Series1.15%2.55%
Prudential Premier Variable Annuity Bb Series0.95%2.35%
Prudential Premier Variable Annuity L Series1.50%2.90%
Prudential Premier Variable Annuity X Series1.55%2.95%
Strategic Partners Advisor1.40%2.25%
Strategic Partners FlexElite1.60%2.50%
Strategic Partners FlexElite 21.65%2.75%
Strategic Partners Plus1.40%2.40%
Strategic Partners Plus 31.40%2.60%
Strategic Partners Select1.52%1.52%
Strategic Partners Variable Annuity One1.40%2.40%
Strategic Partners Variable Annuity One 31.40%2.60%

(1)
Effective February 25, 2019, the base charge on Prudential Premier Advisor Variable Annuity Series product was reduced to 0.35%. Contracts issued under this product on or after February 25, 2019 will have a base charge of 0.35%.
(2)
Effective September 16, 2019, the base charge on Prudential Premier Investment Variable Annuity B Series product was reduced to 0.48%. Contracts issued under this product on or after September 16, 2019 will have a base charge of 0.48%.

C.Withdrawal Charges

A withdrawal charge may be assessed upon full or partial contract owner redemptions. These charges relate to the expenses of selling and distributing the contracts, including sales commissions, printing of prospectuses, sales administration, preparation of sales literature and other promotional activities. No withdrawal charge is imposed whenever earnings are withdrawn. The range for withdrawal charges is 0%-9%. The charge is assessed through the redemption of units.

D.Other Related Charges

For certain products with Highest Daily Lifetime Seven benefit options, the optional benefit fee is a percentage of the protected withdrawal value and is deducted pro rata from the subaccounts on a quarterly basis.

For certain products with Highest Daily Lifetime Income, Highest Daily Lifetime Six Plus, and Highest Daily Lifetime Seven Plus benefit options, the optional benefit fee is assessed against the greater of the unadjusted account value or the protected withdrawal value and is deducted pro rata from the subaccounts on a quarterly basis.

An annual maintenance fee is charged if purchase payments or account value is less than a stated amount (varies by product and may vary by state).

A quarterly premium-based charge is applicable to certain products, which ranges from 0.15% to 0.84% annualized.

These other related charges are assessed through the redemption of units.

Note 9:    Other

Accumulation units are the basic valuation units used to calculate a contract owner's interest allocated to the variable account before the annuitization date.

Contract owner net payments represent contract owner contributions, net of applicable deductions, charges, and state premium taxes, including transfers from the general account as a remittance of remediation credits to contract owners.

Annuity payments represent transfers to the general account at the time of contract annuitization which are used to establish the fixed payout account from which future annuity payments are distributed under the terms of the contracts.

Surrenders, withdrawals and death benefits are payments to contract owners and beneficiaries made under the terms of the contracts, including amounts that contract owners have requested to be withdrawn or paid to them.

Net transfers between other subaccounts or fixed rate option are amounts that contract owners have directed to be moved among subaccounts, including permitted transfers to and from the guaranteed interest account and market value adjustment account.

Miscellaneous transactions primarily represent timing related adjustments on contract owner transactions, such as premiums, surrenders, transfers, etc. which are funded by the general account in order to maintain appropriate contract owner account balances.

Other charges are contract level charges assessed through the redemption of units as described in Note 8, Charges and Expenses.

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Report of Independent Registered Public Accounting Firm

To the Board of Directors of Pruco Life Insurance Company and
the Contract Owners of Pruco Life Flexible Premium Variable Annuity Account

Opinions on the Financial Statements

We have audited the accompanying statements of net assets of each of the subaccounts of Pruco Life Flexible Premium Variable Annuity Account indicated in the table below as of the dates indicated in the table below, and the related statements of operations and of changes in net assets for each of the periods indicated in the table below, including the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the subaccounts of Pruco Life Flexible Premium Variable Annuity Account as of the dates indicated in the table below, and the results of each of their operations and the changes in each of their net assets for the periods indicated in the table below, in conformity with accounting principles generally accepted in the United States of America.

PSF PGIM Government Money Market Portfolio (Class I) (1)
Fidelity® VIP Growth Portfolio (Initial Class) (1)
PSF PGIM Total Return Bond Portfolio (Class I) (1)
Fidelity® VIP Investment Grade Bond Portfolio (Initial Class) (1)
PSF PGIM Jennison Blend Portfolio (Class I) (1)
MFS® New Discovery Series (Initial Class) (1)
PSF PGIM Flexible Managed Portfolio (Class I) (1)
MFS® Total Return Series (Initial Class) (1)
PSF PGIM 50/50 Balanced Portfolio (Class I) (1)
MFS® Total Return Bond Series (Initial Class) (1)
PSF PGIM Jennison Value Portfolio (Class I) (1)
Vanguard Equity Index Portfolio (1)
PSF PGIM High Yield Bond Portfolio (Class I) (1)
Vanguard Global Bond Index (1)
PSF Natural Resources Portfolio (Class I) (1)
Vanguard Mid-Cap Index Portfolio (1)
PSF Stock Index Portfolio (Class I) (1)
Vanguard Real Estate Index Portfolio (1)
PSF Global Portfolio (Class I) (1)
Vanguard Total Bond Market Index Portfolio (1)
PSF PGIM Jennison Growth Portfolio (Class I) (1)
Vanguard Total International Stock Market Index Portfolio (1)
PSF Small-Cap Stock Index Portfolio (Class I) (1)
Vanguard Total Stock Market Index Portfolio (1)
T. Rowe Price International Stock Portfolio (1)
Vanguard Balanced Portfolio (1)
T. Rowe Price Equity Income Portfolio (Equity Income Portfolio Class) (1)
Vanguard Conservative Allocation Portfolio (1)
Invesco V.I. Core Equity Fund (Series I) (1)
Vanguard Growth Portfolio (1)
Janus Henderson VIT Research Portfolio (Institutional Shares) (1)
Vanguard High Yield Bond Portfolio (1)
Janus Henderson VIT Overseas Portfolio (Institutional Shares) (1)
Vanguard Moderate Allocation Portfolio (1)
MFS® Research Series (Initial Class) (1)
Vanguard Short-Term Investment Grade Portfolio (1)
MFS® Growth Series (Initial Class) (1)
American Funds IS Asset Allocation Fund (Class 1) (1)
A191


American Century VP Value Fund (Class I) (1)
American Funds IS Washington Mutual Investors FundSM (Class 1) (1)
Franklin Small-Mid Cap Growth VIP Fund (Class 2) (1)
American Funds IS The Bond Fund of America® (Class 1) (1)
PSF PGIM Jennison Focused Blend Portfolio (Class I) (1)
American Funds IS Growth Fund (Class 1) (1)
Davis Value Portfolio (1)
American Funds IS Growth-Income Fund (Class 1) (1)
AB VPS Large Cap Growth Portfolio (Class B) (1)
American Funds IS U.S. Government Securities Fund® (Class 1) (1)
PSF Small-Cap Value Portfolio (Class I) (1)
BlackRock Basic Value V.I. Fund (Class I) (1)
Janus Henderson VIT Research Portfolio (Service Shares) (1)
BlackRock Capital Appreciation V.I. Fund (Class I) (1)
PSF Mid-Cap Growth Portfolio (Class I) (1)
BlackRock Equity Dividend V.I. Fund (Class I) (1)
PSF International Growth Portfolio (Class I) (1)
BlackRock Global Allocation V.I. Fund (Class I) (1)
AST Cohen & Steers Realty Portfolio (1)
DFA VA Global Bond Portfolio (1)
AST J.P. Morgan Tactical Preservation Portfolio (1)
DFA VA Short-Term Fixed Portfolio (1)
AST T. Rowe Price Large-Cap Value Portfolio (3)
DFA VA U.S. Large Value Portfolio (1)
AST High Yield Portfolio (1)
DFA VA U.S. Targeted Value Portfolio (1)
AST Small-Cap Growth Opportunities Portfolio (5)
Fidelity® VIP Balanced Portfolio (Initial Class) (1)
AST Small-Cap Value Portfolio (1)
Fidelity® VIP Consumer Discretionary Portfolio (Initial Class) (1)
AST Mid-Cap Growth Portfolio (1)
Fidelity® VIP Disciplined Small Cap Portfolio (Initial Class) (1)
AST Large-Cap Value Portfolio (1)
Fidelity® VIP Emerging Markets Portfolio (Initial Class) (1)
AST Loomis Sayles Large-Cap Growth Portfolio (4)
Fidelity® VIP Financial Services Portfolio (Initial Class) (1)
AST MFS Growth Portfolio (4)
Fidelity® VIP Floating Rate High Income Portfolio (Initial Class) (1)
AST Mid-Cap Value Portfolio (1)
Fidelity® VIP Health Care Portfolio (Initial Class) (1)
AST BlackRock Low Duration Bond Portfolio (3)
Fidelity® VIP Industrials Portfolio (Initial Class) (1)
AST T. Rowe Price Natural Resources Portfolio (1)
Fidelity® VIP International Capital Appreciation Portfolio (Initial Class) (1)
AST T. Rowe Price Asset Allocation Portfolio (1)
Fidelity® VIP Mid Cap Portfolio (Initial Class) (1)
AST MFS Global Equity Portfolio (1)
Fidelity® VIP Strategic Income Portfolio (Initial Class) (1)
AST J.P. Morgan International Equity Portfolio (1)
Fidelity® VIP Technology Portfolio (Initial Class) (1)
AST Wellington Management Hedged Equity Portfolio (1)
Fidelity® VIP Utilities Portfolio (Initial Class) (1)
AST Capital Growth Asset Allocation Portfolio (1)
ClearBridge Variable Mid Cap Portfolio (Class I) (1)
A192


AST Academic Strategies Asset Allocation Portfolio (1)
ClearBridge Variable Small Cap Growth Portfolio (Class I) (1)
AST Balanced Asset Allocation Portfolio (1)
Western Asset Core Plus VIT Portfolio (Class I) (1)
AST Preservation Asset Allocation Portfolio (1)
Western Asset Variable Global High Yield Bond Portfolio (Class I) (1)
AST Prudential Growth Allocation Portfolio (1)
MFS® Mid Cap Growth Series (Initial Class) (1)
AST Advanced Strategies Portfolio (1)
MFS® International Intrinsic Value Portfolio (Initial Class) (1)
AST Large-Cap Growth Portfolio (1)
MFS® Massachusetts Investors Growth Stock Portfolio (Initial Class) (1)
AST Government Money Market Portfolio (1)
MFS® International Growth Portfolio (Service Class) (1)
AST Small-Cap Growth Portfolio (1)
MFS® Massachusetts Investors Growth Stock Portfolio (Service Class) (1)
AST BlackRock/Loomis Sayles Bond Portfolio (3)
MFS® Technology Portfolio (Service Class) (1)
AST International Value Portfolio (1)
MFS® Investors Trust Series (Service Class) (1)
AST International Growth Portfolio (1)
MFS® Mid Cap Growth Series (Service Class) (1)
AST Investment Grade Bond Portfolio (1)
MFS® New Discovery Series (Service Class) (1)
AST Core Fixed Income Portfolio (1)
MFS® Research Series (Service Class) (1)
AST Cohen & Steers Global Realty Portfolio (1)
MFS® Total Return Bond Series (Service Class) (1)
AST Emerging Markets Equity Portfolio (1)
MFS® Total Return Series (Service Class) (1)
AST Goldman Sachs Small-Cap Value Portfolio (4)
MFS® Utilities Series (Service Class) (1)
AST Moderate Multi-Asset Portfolio (7)
Fidelity® VIP Contrafund® Portfolio (Service Class 2) (1)
AST J.P. Morgan Global Thematic Portfolio (1)
American Funds IS Asset Allocation Fund (Class 4) (1)
ProFund VP Consumer Services (1)
American Funds IS Washington Mutual Investors Fund℠ (Class 4) (1)
ProFund VP Consumer Goods (1)
American Funds IS The Bond Fund of America® (Class 4) (1)
ProFund VP Financials (1)
American Funds IS Capital World Growth and Income Fund® (Class 4) (1)
ProFund VP Health Care (1)
American Funds IS Global Small Capitalization Fund (Class 4) (1)
ProFund VP Industrials (1)
American Funds IS Growth Fund (Class 4) (1)
ProFund VP Mid-Cap Growth (1)
American Funds IS Growth-Income Fund (Class 4) (1)
ProFund VP Mid-Cap Value (1)
American Funds IS International Fund (Class 4) (1)
ProFund VP Real Estate (1)
American Funds IS New World Fund® (Class 4) (1)
ProFund VP Small-Cap Growth (1)
BlackRock Advantage Large Cap Core V.I. Fund (Class III) (1)
A193


ProFund VP Small-Cap Value (1)
BlackRock Advantage Large Cap Value V.I. Fund (Class III) (1)
ProFund VP Telecommunications (1)
BlackRock Basic Value V.I. Fund (Class III) (1)
ProFund VP Utilities (1)
BlackRock Capital Appreciation V.I. Fund (Class III) (1)
ProFund VP Large-Cap Growth (1)
BlackRock Equity Dividend V.I. Fund (Class III) (1)
ProFund VP Large-Cap Value (1)
BlackRock Large Cap Focus Growth V.I. Fund (Class III) (1)
AST Jennison Large-Cap Growth Portfolio (4)
Fidelity® VIP Balanced Portfolio (Service Class 2) (1)
Allspring VT International Equity Fund (Class 1) (1)
Fidelity® VIP Growth Opportunities Portfolio (Service Class 2) (1)
Allspring VT Omega Growth Fund (Class 1) (1)
Fidelity® VIP Health Care Portfolio (Service Class 2) (1)
Allspring VT Small Cap Growth Fund (Class 1) (1)
AST Bond Portfolio 2032 (8)
AST Bond Portfolio 2022 (1)
PSF Global Portfolio (Class III) (9)
AST Quantitative Modeling Portfolio (1)
PSF Mid-Cap Growth Portfolio (Class III) (9)
AST BlackRock Global Strategies Portfolio (1)
PSF Natural Resources Portfolio (Class III) (9)
Allspring VT Opportunity Fund (Class 1) (1)
PSF PGIM 50/50 Balanced Portfolio (Class III) (9)
AST Prudential Core Bond Portfolio (3)
PSF PGIM Flexible Managed Portfolio (Class III) (9)
AST Bond Portfolio 2023 (1)
PSF PGIM Government Income Portfolio (Class III) (9)
AST MFS Growth Allocation Portfolio (1)
PSF PGIM High Yield Bond Portfolio (Class III) (9)
AST Western Asset Emerging Markets Debt Portfolio (1)
PSF PGIM Jennison Blend Portfolio (Class III) (9)
AST MFS Large-Cap Value Portfolio (3)
PSF PGIM Jennison Focused Blend Portfolio (Class III) (9)
AST Bond Portfolio 2024 (1)
PSF PGIM Jennison Growth Portfolio (Class III) (9)
AST ClearBridge Dividend Growth Portfolio (1)
PSF PGIM Jennison Value Portfolio (Class III) (9)
AST Multi-Sector Fixed Income Portfolio (1)
PSF PGIM Total Return Bond Portfolio
(Class III) (9)
AST Large-Cap Core Portfolio (1)
PSF Small-Cap Stock Index Portfolio
(Class III) (9)
AST Bond Portfolio 2025 (1)
PSF Stock Index Portfolio (Class III) (9)
AST T. Rowe Price Growth Opportunities Portfolio (1)
PSF PGIM Government Income Portfolio (Class I) (1)
AST T. Rowe Price Diversified Real Growth Portfolio (1)
Fidelity® VIP High Income Portfolio (Initial Class) (1)
AST Prudential Flexible Multi-Strategy Portfolio (1)
MFS® Investors Trust Series (Initial Class) (1)
AST Franklin 85/15 Diversified Allocation Portfolio (1)
MFS® Utilities Series (Initial Class) (1)
A194


AST Bond Portfolio 2026 (1)
MFS® Value Series (Initial Class) (1)
AST Global Bond Portfolio (1)
Vanguard Capital Growth Portfolio (1)
AST QMA International Core Equity Portfolio (1)
Vanguard Diversified Value Portfolio (1)
BlackRock Global Allocation V.I. Fund (Class III) (1)
Vanguard Equity Income Portfolio (1)
JPMorgan Insurance Trust Income Builder Portfolio (Class 2) (1)
Vanguard International Portfolio (1)
AST Bond Portfolio 2027 (1)
American Funds IS Ultra-Short Bond Fund (Class 1) (1)
NVIT Emerging Markets Fund (Class D) (1)
BlackRock Advantage Large Cap Core V.I. Fund (Class I) (1)
AST Bond Portfolio 2028 (1)
BlackRock Large Cap Focus Growth V.I. Fund (Class I) (1)
AST Bond Portfolio 2029 (1)
DFA VA Global Moderate Allocation Portfolio (1)
AST American Funds Growth Allocation Portfolio (1)
DFA VA International Small Portfolio (1)
AST Bond Portfolio 2030 (1)
DFA VA International Value Portfolio (1)
AST BlackRock 80/20 Target Allocation ETF Portfolio (1)
ClearBridge Variable Aggressive Growth Portfolio (Class I) (1)
AST BlackRock 60/40 Target Allocation ETF Portfolio (1)
ClearBridge Variable Appreciation Portfolio (Class I) (1)
AST Western Asset Corporate Bond Portfolio (3)
ClearBridge Variable Dividend Strategy Portfolio (Class I) (1)
AST T. Rowe Price Corporate Bond Portfolio (3)
ClearBridge Variable Large Cap Growth Portfolio (Class I) (1)
AST PIMCO Corporate Bond Portfolio (3)
Franklin Multi-Asset Variable Conservative Growth Fund (Class I) (1)
AST Prudential Corporate Bond Portfolio (3)
Franklin Multi-Asset Variable Growth Fund (Class I) (1)
AST BlackRock Corporate Bond Portfolio (3)
MFS® Technology Portfolio (Initial Class) (1)
AST Bond Portfolio 2031 (1)
MFS® Value Series (Service Shares) (6)
Fidelity® VIP Contrafund® Portfolio (Initial Class) (1)
PSF PGIM Government Money Market Portfolio (Class III) (6)
Fidelity® VIP Growth Opportunities Portfolio (Initial Class) (1)
AST Bond Portfolio 2033 (2)
(1)Statement of net assets as of December 31, 2022, statement of operations for the period ended December 31, 2022 and statement of changes in net assets for the periods ended December 31, 2022 and 2021.
(2)Statement of net assets as of December 31, 2022, statement of operations and statement of changes in net assets for the period January 3, 2022 (commencement of operations) to December 31, 2022.
(3)Statement of net assets as of February 11, 2022 (date of merger), statement of operations for the period January 1, 2022 to February 11, 2022 and statement of changes in net assets for the period January 1, 2022 to February 11, 2022 and for the period ended December 31, 2021.
(4)Statement of net assets as of June 10, 2022 (date of merger), statement of operations for the period January 1, 2022 to June 10, 2022 and statement of changes in net assets for the period January 1, 2022 to June 10, 2022 and for the period ended December 31, 2021.
A195


(5)Statement of net assets as of September 9, 2022 (date of merger), statement of operations for the period January 1, 2022 to September 9, 2022 and statement of changes in net assets for the period January 1, 2022 to September 9, 2022 and for the period ended December 31, 2021.
(6)Statement of net assets as of December 31, 2022, statement of operations for the period ended December 31, 2022 and statement of changes in net assets for the period ended December 31, 2022 and for the period October 1, 2021 (commencement of operations) to December 31, 2021.
(7)Statement of net assets as of December 2, 2022 (date of merger), statement of operations for the period January 1, 2022 to December 2, 2022 and statement of changes in net assets for the period January 1, 2022 to December 2, 2022 and for the period ended December 31, 2021.
(8)Statement of net assets as of December 31, 2022, statement of operations for the period ended December 31, 2022 and statement of changes in net assets for the period ended December 31, 2022 and for the period January 4, 2021 (commencement of operations) to December 31, 2021.
(9)Statement of net assets as of December 31, 2022, statement of operations for the period ended December 31, 2022 and statement of changes in net assets for the period ended December 31, 2022 and for the period April 26, 2021 (commencement of operations) to December 31, 2021.

Basis for Opinions

These financial statements are the responsibility of the Pruco Life Insurance Company management. Our responsibility is to express an opinion on the financial statements of each of the subaccounts of Pruco Life Flexible Premium Variable Annuity Account based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to each of the subaccounts of Pruco Life Flexible Premium Variable Annuity Account in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of investments owned as of December 31, 2022 by correspondence with the transfer agents of the investee mutual funds. We believe that our audits provide a reasonable basis for our opinions.





/s/ PricewaterhouseCoopers LLP
New York, New York
April 4, 2023

We have served as the auditor of one or more of the subaccounts of Pruco Life Flexible Premium Variable Annuity Account since 1996.
A196