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Unaudited Interim Consolidated Statements of Financial Position - USD ($)
$ in Millions
Mar. 31, 2020
Dec. 31, 2019
ASSETS    
Fixed maturities, available-for-sale, at fair value (amortized cost: 2020-$349,665; 2019-$346,574; 2020-net of $158 allowance for credit losses) [2] $ 389,714 [1] $ 391,096
Fixed maturities, held-to-maturity, at amortized cost (2020-net of $9 allowance for credit losses; fair value: 2020-$2,249; 2019-$2,302) [2] 1,895 [1] 1,933
Fixed maturities, trading, at fair value (amortized cost: 2020-$3,931: 2019-$3,917) [2] 3,621 3,884
Assets supporting experience-rated contractholder liabilities, at fair value [2] 21,580 21,597
Equity securities, at fair value (cost: 2020-$5,695; 2019-$5,560) [2] 6,176 7,522
Commercial mortgage and other loans (net of $240 and $121 allowance for credit losses; includes $670 and $228 of loans measured at fair value under the fair value option at March 31, 2020 and December 31, 2019, respectively) [2] 63,559 [1] 63,559
Policy loans 12,099 12,096
Other invested assets (2020-net of $1 allowance for credit losses; includes $7,895 and $5,646 of assets measured at fair value under the fair value option at Match 31, 2020 and December 31, 2019, respectively) [2] 18,071 [1] 15,606
Short-term investments (2020-net of $4 allowance for credit losses) [1] 7,961 5,467
Total investments 524,676 522,760
Cash and cash equivalents [2] 31,646 16,327
Accrued investment income [2] 3,221 3,330
Deferred policy acquisition costs 19,738 [1] 19,912
Value of business acquired 1,070 1,110
Other assets [2] 20,694 [1] 20,832
Separate account assets 272,667 312,281
TOTAL ASSETS 873,712 896,552
LIABILITIES    
Future policy benefits 310,817 293,527
Policyholders’ account balances 155,898 152,110
Policyholders’ dividends 6,396 [1] 6,988
Securities sold under agreements to repurchase 10,557 9,681
Cash collateral for loaned securities 3,396 4,213
Income taxes 11,117 [1] 11,378
Short-term debt 2,539 1,933
Long-term debt 20,149 18,646
Other liabilities [2] 17,853 [1] 20,802
Separate account liabilities 272,667 312,281
Total liabilities 812,640 832,833
COMMITMENTS AND CONTINGENT LIABILITIES
EQUITY    
Preferred Stock ($.01 par value; 10,000,000 shares authorized; none issued) 0 0
Common Stock ($.01 par value; 1,500,000,000 shares authorized; 666,305,189 shares issued as of both March 31, 2020 and December 31, 2019) 6 6
Additional paid-in capital 25,506 25,532
Common Stock held in treasury, at cost (272,456,220 and 267,472,781 shares at March 31, 2020 and December 31, 2019, respectively) (19,841) (19,453)
Accumulated other comprehensive income (loss) 22,600 24,039
Retained earnings 32,176 32,991
Total Prudential Financial, Inc. equity 60,447 63,115
Noncontrolling interests 625 604
Total equity 61,072 63,719
TOTAL LIABILITIES AND EQUITY 873,712 896,552
Variable Interest Entity, Primary Beneficiary    
ASSETS    
TOTAL ASSETS 5,141 5,048
LIABILITIES    
Total liabilities 1,633 1,578
Notes Issued by Consolidated VIEs | Variable Interest Entity, Primary Beneficiary    
LIABILITIES    
Total liabilities [2] $ 1,251 $ 1,274
[1]
March 31, 2020 amounts include the impacts of the January 1, 2020 adoption of ASU 2016-13. See Note 2 for details.
[2]
See Note 4 for details of balances associated with variable interest entities.