Revision to Prior Year Financial Statement (Tables)

9 Months Ended

Sep. 30, 2025

Prior Period Adjustment [Abstract]

Revision to Prior Period Financial Statements

The following are selected line items from the Consolidated Financial Statements illustrating the effects of these revisions:

Unaudited Interim Consolidated Statements of Operations and Comprehensive Income (Loss)

	Three Months Ended September 30, 2024						Nine Months Ended September 30, 2024
	As Previously Reported		Adjustments		As Revised		As Previously Reported		Revision		As Revised
	(in thousands)
REVENUES
Other income (loss)	$	386,095	$	2,681	$	388,776	$	737,269	$	7,620	$	744,889
Realized investment gains (losses), net	(616,495)		(35,023)		(651,518)		245,387		(94,962)		150,425
Change in value of market risk benefits, net of related hedging gains (losses)	(175,401)		0		(175,401)		(365,993)		12,405		(353,588)
TOTAL REVENUES	795,175		(32,342)		762,833		6,499,839		(74,937)		6,424,902
BENEFITS AND EXPENSES
Interest credited to policyholders’ account balances	256,160		0		256,160		706,934		33,800		740,734
Amortization of deferred policy acquisition costs	148,755		2,708		151,463		165,750		6,863		172,613
General, administrative and other expenses	310,285		(14,160)		296,125		905,123		(39,620)		865,503
TOTAL BENEFITS AND EXPENSES	848,315		(11,452)		836,863		6,135,030		1,043		6,136,073
INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF OPERATING JOINT VENTURE	(53,140)		(20,890)		(74,030)		364,809		(75,980)		288,829
Income tax expense (benefit)	(45,500)		3,253		(42,247)		25,287		(5,956)		19,331
NET INCOME (LOSS) ATTRIBUTABLE TO PRUCO LIFE INSURANCE COMPANY	$	(13,777)	$	(24,143)	$	(37,920)	$	330,070	$	(70,024)	$	260,046
Other comprehensive income (loss), before tax:
Net unrealized investment gains (losses)	1,116,531		10,876		1,127,407		647,531		10,876		658,407
Gain (loss) from changes in nonperformance risk on market risk benefits	50,314		0		50,314		(133,611)		53		(133,558)
Total	1,084,731		10,876		1,095,607		493,843		10,929		504,772
Less: Income tax expense (benefit) related to other comprehensive income (loss)	226,942		2,284		229,226		103,381		2,296		105,677
Other comprehensive income (loss), net of taxes	857,789		8,592		866,381		390,462		8,633		399,095
Comprehensive income (loss)	850,054		(15,551)		834,503		729,646		(61,391)		668,255

Unaudited Interim Consolidated Statements of Equity

	Retained Earnings						AOCI						Total Equity
	As Previously Reported		Adjustments		As Revised		As Previously Reported		Adjustments		As Revised		As Previously Reported		Adjustments		As Revised
	(in thousands)
Balance, June 30, 2024	$	(189,104)	$	(64,401)	$	(253,505)	$	(498,247)	$	0	$	(498,247)	$	3,931,563	$	(64,401)	$	3,867,162
Comprehensive income (loss):
Net income (loss)	(13,777)		(24,143)		(37,920)								(7,735)		(24,143)		(31,878)
Other comprehensive income (loss), net of taxes							857,789		8,592		866,381		857,789		8,592		866,381
Total comprehensive income (loss)	(13,777)		(24,143)		(37,920)		857,789		8,592		866,381		850,054		(15,551)		834,503
Balance, September 30, 2024	$	(202,881)	$	(88,544)	$	(291,425)	$	359,542	$	8,592	$	368,134	$	4,917,285	$	(79,952)	$	4,837,333

Unaudited Interim Consolidated Statements of Cash Flows

	Nine Months Ended September 30, 2024
	As Previously Reported		Adjustments		As Revised
	(in thousands)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	339,184	$	(70,024)	$	269,160
Interest credited to policyholders' account balances	706,934		33,800		740,734
Realized investment (gains) losses, net	(245,387)		94,962		(150,425)
Change in value of market risk benefits, net of related hedging (gains) losses	365,993		(12,405)		353,588
Change in:
Reinsurance related balances(1)	(122,957)		(7,620)		(130,577)
Deferred policy acquisition costs(1)	(646,666)		(32,757)		(679,423)
Income taxes	(291,914)		(5,956)		(297,870)
Derivatives, net	165,999		254,640		420,639
Other, net(1)	(32,161)		(254,640)		(286,801)
Cash flows from (used in) operating activities	2,177,530		0		2,177,530
CASH FLOWS FROM FINANCING ACTIVITIES:
Ceded policyholders’ account deposits	(957,473)		54,672		(902,801)
Policyholders’ account withdrawals	(3,108,080)		115,573		(2,992,507)
Other, net(1)	193,738		(170,245)		23,493
Cash flows from (used in) financing activities	9,108,469		0		9,108,469

(1) As previously reported balances have been updated to conform to the current period presentation.