Exhibit 12.1

PRUDENTIAL FINANCIAL, INC.

RATIO OF EARNINGS TO FIXED CHARGES

	Year Ended December 31,
	2010		2009			2008			2007		2006
	($ in millions)
Earnings:
Income (loss) from continuing operations before income taxes (1)	$	4,520	$	3,916		$	(1,880	)	$	4,872	$	4,597
Less:
Undistributed income (loss) of investees accounted for under the equity method		100		(172	)		(1,026	)		109		70
Interest capitalized		—		—			5			6		—
Adjusted earnings		4,420		4,088			(859	)		4,757		4,527
Add fixed charges:
Interest credited to policyholders’ account balances		4,209		4,484			2,335			3,222		2,917
Gross interest expense (2)		1,224		1,168			1,401			1,502		1,217
Interest component of rental expense		77		77			64			60		58
Total fixed charges		5,510		5,729			3,800			4,784		4,192
Total earnings plus fixed charges	$	9,930	$	9,817		$	2,941		$	9,541	$	8,719
Ratio of earnings to fixed charges (3)		1.80		1.71			—			1.99		2.08

(1) Excludes earnings attributable to noncontrolling interests. The year ended December 31, 2009 includes a $2.247 billion pre-tax gain related to the sale of the Company’s minority joint venture interest in Wachovia Securities.

(2) Interest expense on short-term and long-term debt. Includes interest expense of securities businesses reported in “Net investment income” in the Consolidated Statements of Operations, capitalized interest and amortization of debt discounts and premiums. Interest expense does not include interest on liabilities recorded under the authoritative guidance on accounting for uncertainty in income taxes. The Company’s policy is to classify such interest in income tax provision in the consolidated statements of operations.

(3) Due to the Company’s loss for the year ended December 31, 2008, the ratio coverage was less than 1:1 and is therefore not presented. Additional earnings of $859 million would have been required for the year ended December 31, 2008 to achieve a ratio of 1:1.