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Consolidated Statement of Operations and Comprehensive Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
REVENUES      
Premiums (includes $(2,690), $6,978 and $(1,250) of gains (losses) from change in estimates on deferred profit liability amortization for the year ended December 31, 2024, 2023 and 2022, respectively) $ 393,127 $ 328,897 $ 265,208
Policy charges and fee income 7,382,797 1,536,606 1,230,601
Net investment income 2,422,017 1,675,522 884,001
Asset administration fees 223,563 232,950 284,182
Other Income (loss) 759,756 751,363 [1] (636,273) [1]
Realized investment gains (losses), net 451,417 (1,147,099) [1] 289,929 [1]
Change in value of market risk benefits, net of related hedging gain (losses) (433,955) (106,773) [2] (700,581)
TOTAL REVENUES 11,198,722 3,271,466 1,617,067
BENEFITS AND EXPENSES      
Policyholders’ benefits 8,352,333 503,789 458,373
Changes in estimates of liability for future policy benefits (20,643) 3,952 55,099
Interest credited to policyholders’ account balances 1,037,731 621,645 [1] 445,215
Amortization of deferred policy acquisition costs (372,201) 539,510 [1] 521,269 [1]
General, administrative and other expense 1,228,443 1,124,923 [1] 1,129,700 [1]
TOTAL BENEFITS AND EXPENSES 10,225,663 2,793,819 2,609,656
INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF SUBSIDIARIES AND OPERATING JOINT VENTURE 973,059 477,647 (992,589)
Income tax expense (benefit) 135,149 26,468 [1] (296,687) [1]
INCOME (LOSS) FROM OPERATIONS BEFORE EQUITY IN EARNINGS OF OPERATING JOINT VENTURE 837,910 451,179 (695,902)
Equity in earnings of operating joint venture, net of taxes (425) (433) (75,137)
Net income (loss) 837,485 450,746 [2] (771,039) [2]
Less: Income (loss) attributable to noncontrolling interests 13,495 488 0
NET INCOME (LOSS) ATTRIBUTABLE TO PRUCO LIFE INSURANCE COMPANY 823,990 450,258 (771,039)
Other comprehensive income (loss), before tax:      
Foreign currency translation adjustments (4,595) 2,419 (9,337)
Net unrealized investment gains (losses) (335,093) 691,952 (2,254,037)
Interest rate remeasurement of future policy benefits 58,676 (60,978) 310,353
Gain (loss) from changes in non-performance risk on market risk benefits (441,138) (659,927) [1] 1,440,305
Total (722,150) (26,534) (512,716)
Less: Income tax expense (benefit) related to other comprehensive income (loss) (151,234) (5,638) [1] (106,197)
Other comprehensive income (loss), net of tax (570,916) (20,896) (406,519)
Comprehensive income (loss) 266,569 429,850 (1,177,558)
Less: Comprehensive income (loss) attributable to noncontrolling interests 13,495 488 0
Comprehensive income (loss) attributable to Pruco Life Insurance Company $ 253,074 $ 429,362 $ (1,177,558)
[1] Amounts reflect revision to prior period Financial Statements. See Note 17 for additional information.
[2] Amounts reflect revision to prior period Financial Statements. See Note 17 for additional information.