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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, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
REVENUES        
Premiums (includes $58, $(2,192), $709, and $(2,522) of gains (losses) from changes in estimates on deferred profit liability amortization for the three months ended June 30, 2025 and 2024 and the six months ended June 30, 2025 and 2024, respectively) $ 138,726 $ 94,921 $ 262,186 $ 187,103
Policy charges and fee income 470,616 388,834 868,962 3,298,039
Net investment income 763,253 579,993 1,498,049 1,085,313
Asset administration fees 49,967 55,113 102,047 111,745
Other income (loss) 240,046 141,118 [1] 416,487 356,113 [1]
Realized Investment gains (losses), net (819,364) 804,748 [1] (925,738) 801,943 [1]
Change in value of market risk benefits, net of related hedging gains (losses) (286,169) (282,183) [1] (612,240) (178,187) [1]
TOTAL REVENUES 557,075 1,782,544 1,609,753 5,662,069
BENEFITS AND EXPENSES        
Policyholders' benefits 299,308 135,879 442,644 4,242,287
Net change in estimates of liability for future policy benefits (107,470) (6,174) (100,888) (18,179)
Interest credited to policyholders’ account balances 168,577 226,224 [1] 462,339 484,574 [1]
Amortization of deferred policy acquisition costs 164,114 150,307 [1] 324,337 21,150 [1]
General, administrative and other expenses 263,348 271,564 [1] 557,828 569,378 [1]
TOTAL BENEFITS AND EXPENSES 787,877 777,800 1,686,260 5,299,210
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest, Total (230,802) 1,004,744 (76,507) 362,859
Income tax expense (benefit) (22,988) 129,225 [1] (3,311) 61,578 [1]
INCOME (LOSS) FROM OPERATIONS BEFORE EQUITY IN EARNINGS OF OPERATING JOINT VENTURE (207,814) 875,519 (73,196) 301,281
Equity in earnings of operating joint venture, net of taxes (84) (86) (176) (243)
NET INCOME (LOSS) (207,898) 875,433 (73,372) 301,038 [2]
Less: Income (loss) attributable to noncontrolling interests 3,217 1,891 8,174 3,072
NET INCOME (LOSS) ATTRIBUTABLE TO PRUCO LIFE INSURANCE COMPANY (211,115) 873,542 (81,546) 297,966
Other comprehensive income (loss), before tax:        
Foreign currency translation adjustments 4,523 (1,816) 4,724 (4,178)
Net unrealized investment gains (losses) 330,192 (155,693) 603,228 (469,000)
Interest rate remeasurement of future policy benefits (3,391) 33,385 (15,931) 66,215
Gain (loss) from changes in non-performance risk on market risk benefits 7,109 55,049 [1] 168,322 (183,872) [1]
Total 338,433 (69,075) 760,343 (590,835)
Less: Income tax expense (benefit) related to other comprehensive income (loss) 70,868 (14,270) [1] 159,810 (123,549) [1]
Other comprehensive income (loss), net of taxes 267,565 (54,805) 600,533 (467,286)
Total comprehensive income (loss) 59,667 820,628 527,161 (166,248)
Less: Comprehensive income (loss) attributable to noncontrolling interests 3,217 1,891 8,174 3,072
Comprehensive income (loss) attributable to Pruco Life Insurance Company $ 56,450 $ 818,737 $ 518,987 $ (169,320)
[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.