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Unaudited Interim Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
REVENUES    
Premiums (includes $650, and $(330) of gains (losses) from changes in estimates on deferred profit liability amortization for the three months ended March 31, 2025 and 2024, respectively) $ 123,460 $ 92,182
Policy charges and fee income 398,346 2,909,205
Net investment income 734,796 505,320
Asset administration fees 52,080 56,632
Other income (loss) 176,441 214,995 [1]
Realized Investment gains (losses), net (106,374) (2,805) [1]
Change in value of market risk benefits, net of related hedging gains (losses) (326,071) 103,996 [1]
TOTAL REVENUES 1,052,678 3,879,525
BENEFITS AND EXPENSES    
Policyholders' benefits 143,336 4,106,408
Net change in estimates of liability for future policy benefits 6,582 (12,005)
Interest credited to policyholders’ account balances 293,762 258,350 [1]
Amortization of deferred policy acquisition costs 160,223 (129,157) [1]
General, administrative and other expenses 294,480 297,814 [1]
TOTAL BENEFITS AND EXPENSES 898,383 4,521,410
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest, Total 154,295 (641,885)
Income tax expense (benefit) 19,677 (67,647) [1]
INCOME (LOSS) FROM OPERATIONS BEFORE EQUITY IN EARNINGS OF OPERATING JOINT VENTURE 134,618 (574,238)
Equity in earnings of operating joint venture, net of taxes (92) (157)
NET INCOME (LOSS) 134,526 (574,395) [2]
Less: Income (loss) attributable to noncontrolling interests 4,957 1,181
NET INCOME (LOSS) ATTRIBUTABLE TO PRUCO LIFE INSURANCE COMPANY 129,569 (575,576)
Other comprehensive income (loss), before tax:    
Foreign currency translation adjustments 201 (2,362)
Net unrealized investment gains (losses) 273,036 (313,307)
Interest rate remeasurement of future policy benefits (12,540) 32,830
Gain (loss) from changes in non-performance risk on market risk benefits 161,213 (238,921) [1]
Total 421,910 (521,760)
Less: Income tax expense (benefit) related to other comprehensive income (loss) 88,942 (109,279) [1]
Other comprehensive income (loss), net of taxes 332,968 (412,481)
Total comprehensive income (loss) 467,494 (986,876)
Less: Comprehensive income (loss) attributable to noncontrolling interests 4,957 1,181
Comprehensive income (loss) attributable to Pruco Life Insurance Company $ 462,537 $ (988,057)
[1] Amounts reflect revision to prior period Financial Statements. See Note 16 for additional information.
[2] Amounts reflect revision to prior period Financial Statements. See Note 16 for additional information.