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Unaudited Interim Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
REVENUES        
Premiums (includes $(2,192), $4,141, $(2,522) and $5,092 of gains (losses) from change in estimates on deferred profit liability amortization for the three months ended June 30, 2024 and 2023 and the six months ended June 30, 2024 and 2023, respectively) $ 94,921 $ 89,965 $ 187,103 $ 166,621
Policy charges and fee income 388,834 363,536 3,298,039 750,027
Net investment income 579,993 393,075 1,085,313 742,525
Asset administration fees 55,113 56,788 111,745 120,990
Other income (loss) 137,689 105,458 351,174 350,305
Realized Investment gains (losses), net 838,882 7,694 861,882 (112,985)
Change in value of market risk benefits, net of related hedging gain (loss) (282,183) (38,887) (190,592) (18,685)
TOTAL REVENUES 1,813,249 977,629 5,704,664 1,998,798
BENEFITS AND EXPENSES        
Policyholders' benefits 135,879 146,961 4,242,287 252,143
Change in estimates of liability for future policy benefits (6,174) (1,133) (18,179) (5,535)
Interest credited to policyholders’ account balances 226,224 143,816 450,774 304,038
Amortization of deferred policy acquisition costs 148,010 129,147 16,995 266,642
General, administrative and other expenses 286,660 300,689 594,838 587,336
TOTAL BENEFITS AND EXPENSES 790,599 719,480 5,286,715 1,404,624
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest, Total 1,022,650 258,149 417,949 594,174
Income tax expense (benefit) 134,404 40,326 70,787 96,565
INCOME (LOSS) FROM OPERATIONS BEFORE EQUITY IN EARNINGS OF OPERATING JOINT VENTURE 888,246 217,823 347,162 497,609
Equity in earnings of operating joint venture, net of taxes (86) (225) (243) (332)
NET INCOME (LOSS) 888,160 217,598 346,919 497,277
Less: Income (loss) attributable to noncontrolling interests 1,891 0 3,072 0
NET INCOME (LOSS) ATTRIBUTABLE TO PRUCO LIFE INSURANCE COMPANY 886,269 217,598 343,847 497,277
Other comprehensive income (loss), before tax:        
Foreign currency translation adjustments (1,816) 600 (4,178) 3,266
Net unrealized investment gains (losses) (155,693) (263,227) (469,000) 118,874
Interest rate remeasurement of future policy benefits 33,385 20,636 66,215 (17,588)
Gain (loss) from changes in non-performance risk on market risk benefits 55,049 (247,746) (183,925) (67,323)
Total (69,075) (489,737) (590,888) 37,229
Less: Income tax expense (benefit) related to other comprehensive income (loss) (14,270) (102,846) (123,561) 7,416
Other comprehensive income (loss), net of taxes (54,805) (386,891) (467,327) 29,813
Total comprehensive income (loss) 833,355 (169,293) (120,408) 527,090
Less: Comprehensive income (loss) attributable to noncontrolling interests 1,891 0 3,072 0
Comprehensive income (loss) attributable to Pruco Life Insurance Company $ 831,464 $ (169,293) $ (123,480) $ 527,090