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Unaudited Interim Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
REVENUES        
Premiums (includes $(53), $1,832, $(2,575) and $6,924 of gains (losses) from change in estimates on deferred profit liability amortization for the three months ended September 30, 2024 and 2023 and the nine months ended September 30, 2024 and 2023, respectively) $ 97,089 $ 85,140 $ 284,192 $ 251,761
Policy charges and fee income 408,767 346,481 3,706,806 1,096,508
Net investment income 638,692 460,864 1,724,005 1,203,389
Asset administration fees 56,428 56,754 168,173 177,744
Other income (loss) 386,095 (63,555) 737,269 286,750
Realized Investment gains (losses), net (616,495) (468,256) 245,387 (581,241)
Change in value of market risk benefits, net of related hedging gain (loss) (175,401) (247,471) (365,993) (266,156)
TOTAL REVENUES 795,175 169,957 6,499,839 2,168,755
BENEFITS AND EXPENSES        
Policyholders' benefits 130,681 145,409 4,372,968 397,552
Change in estimates of liability for future policy benefits 2,434 6,565 (15,745) 1,030
Interest credited to policyholders’ account balances 256,160 163,074 706,934 467,112
Amortization of deferred policy acquisition costs 148,755 132,242 165,750 398,884
General, administrative and other expenses 310,285 271,473 905,123 858,809
TOTAL BENEFITS AND EXPENSES 848,315 718,763 6,135,030 2,123,387
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest, Total (53,140) (548,806) 364,809 45,368
Income tax expense (benefit) (45,500) (104,883) 25,287 (8,318)
INCOME (LOSS) FROM OPERATIONS BEFORE EQUITY IN EARNINGS OF OPERATING JOINT VENTURE (7,640) (443,923) 339,522 53,686
Equity in earnings of operating joint venture, net of taxes (95) (404) (338) (736)
NET INCOME (LOSS) (7,735) (444,327) 339,184 52,950
Less: Income (loss) attributable to noncontrolling interests 6,042 0 9,114 0
NET INCOME (LOSS) ATTRIBUTABLE TO PRUCO LIFE INSURANCE COMPANY (13,777) (444,327) 330,070 52,950
Other comprehensive income (loss), before tax:        
Foreign currency translation adjustments 5,756 (2,835) 1,578 431
Net unrealized investment gains (losses) 1,116,531 (618,892) 647,531 (500,018)
Interest rate remeasurement of future policy benefits (87,870) 90,909 (21,655) 73,321
Gain (loss) from changes in non-performance risk on market risk benefits 50,314 (429,966) (133,611) (497,289)
Total 1,084,731 (960,784) 493,843 (923,555)
Less: Income tax expense (benefit) related to other comprehensive income (loss) 226,942 (201,437) 103,381 (194,021)
Other comprehensive income (loss), net of taxes 857,789 (759,347) 390,462 (729,534)
Total comprehensive income (loss) 850,054 (1,203,674) 729,646 (676,584)
Less: Comprehensive income (loss) attributable to noncontrolling interests 6,042 0 9,114 0
Comprehensive income (loss) attributable to Pruco Life Insurance Company $ 844,012 $ (1,203,674) $ 720,532 $ (676,584)