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Related Party Transactions (Tables)
12 Months Ended
Dec. 31, 2021
Related Party Transactions [Abstract]  
Affiliated Notes Receivable
Affiliated notes receivable included in “Receivables from parent and affiliates” at December 31, were as follows:
Maturity DatesInterest Rates20212020
(in thousands)
U.S. dollar fixed rate notes2024-20320.00%-14.85 %$162,045 $111,970 
Total long-term notes receivable - affiliated(1)$162,045 $111,970 
(1)All long-term notes receivable may be called for prepayment prior to the respective maturity dates under specified circumstances.
Affiliated Commercial Mortgage Loans
The following table sets forth the composition of “Commercial mortgage and other loans,” as of the dates indicated:
 December 31, 2021December 31, 2020
 Amount
(in thousands)
% of
Total
Amount
(in thousands)
% of
Total
Commercial mortgage and agricultural property loans by property type:
Apartments/Multi-Family$748,414 26.4 %$364,549 28.2 %
Hospitality48,141 1.7 34,069 2.6 
Industrial916,398 32.2 399,017 30.9 
Office445,055 15.7 195,443 15.1 
Other252,590 8.9 138,477 10.7 
Retail255,577 9.0 142,266 11.0 
Total commercial mortgage loans2,666,175 93.9 1,273,821 98.5 
Agricultural property loans172,336 6.1 19,577 1.5 
Total commercial mortgage and agricultural property loans2,838,511 100.0 %1,293,398 100.0 %
Allowance for credit losses(5,951)(4,552)
Total net commercial mortgage and agricultural property loans$2,832,560 $1,288,846 
The affiliated commercial mortgage loan included in "Commercial mortgage and other loans" at December 31, was as follows:
Maturity DateInterest Rate2021
(in thousands)
Affiliated Commercial Mortgage Loan20254.60%$73,412 
Affiliated Asset Transfers The table below shows affiliated asset trades for the years ended December 31, 2021 and 2020, excluding those related to the 2021 Variable Annuities Recapture effective July 1, 2021, as described in Note 1.
AffiliateDateTransactionSecurity TypeFair
Value
Book ValueAPIC, Net
of Tax
Increase/
(Decrease)
Realized
Investment
Gain/
(Loss)
    (in thousands)
Prudential InsuranceMarch 2020PurchaseOther Invested Assets$1,390 $1,390 $$
Prudential InsuranceApril 2020PurchaseFixed Maturities$61,953 $59,659 $(1,812)$
Prudential InsuranceApril 2020PurchaseFixed Maturities$3,485 $3,320 $(130)$
GA BV LLCJuly 2020Transfer OutFixed Maturities$1,914 $1,914 $$
PALACJune 2021PurchaseEquities$40,284 $40,284 $$
Prudential InsuranceSeptember 2021PurchaseFixed Maturities$64,374 $59,642 $(3,739)$
Prudential InsuranceSeptember 2021SaleFixed Maturities$37,887 $35,264 $2,073 $
Hirakata LLCSeptember 2021PurchaseFixed Maturities$13,944 $13,944 $$
Prudential Retirement Insurance & Annuity CoSeptember 2021PurchaseFixed Maturities$120,256 $120,256 $$
Prudential Retirement Insurance & Annuity CoSeptember 2021SaleFixed Maturities$173,590 $166,427 $$7,163 
Prudential InsuranceSeptember 2021PurchaseCommercial Mortgage and Other Loans$45,358 $42,127 $(2,553)$
Prudential InsuranceSeptember 2021SaleCommercial Mortgage and Other Loans$22,796 $21,780 $802 $
Prudential Retirement Insurance & Annuity CoSeptember 2021PurchaseCommercial Mortgage and Other Loans$29,483 $29,483 $$
Prudential Retirement Insurance & Annuity CoSeptember 2021SaleCommercial Mortgage and Other Loans$51,005 $47,020 $$3,985 
Prudential InsuranceSeptember 2021PurchaseDerivatives$600 $494 $(84)$
Prudential InsuranceSeptember 2021SaleDerivatives$335 $175 $127 $
Prudential Retirement Insurance & Annuity CoSeptember 2021PurchaseDerivatives$(1,243)$(1,243)$$
Prudential Retirement Insurance & Annuity CoSeptember 2021SaleDerivatives$2,846 $770 $$2,076 
Prudential Arizona Reinsurance Universal Co.November 2021PurchaseFixed Maturities$41,021 $41,021 $$
PALACNovember 2021PurchaseDerivatives$1,112 $1,112 $$
PALACDecember 2021Transfer inFixed Maturities$2,037,320 $2,037,320 $$
Prudential Universal Reinsurance Co.December 2021PurchaseFixed Maturities$48,041 $48,041 $$
PALACDecember 2021PurchaseFixed Maturities$57,087 $57,087 $$
PALACDecember 2021Transfer inCommercial Mortgage and Other Loans$517,309 $517,309 $$
Prudential InsuranceDecember 2021Contributed CapitalFixed Maturities$166,676 $166,676 $$
Prudential Retirement Insurance & Annuity CoDecember 2021SaleDerivatives$31,567 $$$31,567 
Prudential Retirement Insurance & Annuity CoDecember 2021PurchaseDerivatives$73,572 $73,572 $$
PALACDecember 2021PurchaseDerivatives$8,455 $8,455 $$
Debt Agreements The following table provides the breakout of the Company's short and long-term debt to affiliates as of December 31, 2021:
AffiliateDate IssuedAmount of Notes - December 31, 2021Amount of Notes - December 31, 2020Interest 
Rate
Date of Maturity
(in thousands)
Prudential Insurance8/13/2021$99,770 $4.39 %12/15/2023
Prudential Insurance8/13/202129,931 4.39 %12/15/2023
Prudential Insurance8/13/2021100,348 3.95 %6/20/2024
Prudential Insurance8/13/202140,139 3.95 %6/20/2024
Prudential Insurance8/13/202150,174 3.95 %6/20/2024
Total Loans Payable to Affiliates$320,362 $