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Consolidated Statements of Financial Position - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
ASSETS    
Fixed maturities, available-for-sale, at fair value (allowance for credit losses: 2025 – $12,121; 2024 – $40,414) (amortized cost: 2025 – $44,270,098; 2024 – $33,648,311)(1) [1] $ 47,624,171 $ 34,986,160
Fixed maturities, trading, at fair value (amortized cost: 2025 – $5,241,598; 2024 – $4,415,277) 4,892,507 3,845,045
Equity securities, at fair value (cost: 2025 – $2,826,642; 2024 – $2,650,542) 2,869,631 2,623,820
Policy loans 1,666,965 1,541,480
Short-term investments (net of allowance for credit losses: 2025 – $0; 2024 – $49) 320,794 517,386
Commercial mortgage and other loans (net of $48,775 and $36,002 allowance for credit losses at December 31, 2025 and 2024, respectively) 10,082,667 7,759,323
Other invested assets (includes $77,641 and $12,999 of assets measured at fair value at December 31, 2025 and 2024, respectively)(1) [1] 2,297,535 1,582,094
Total investments 69,754,270 52,855,308
Cash and cash equivalents(1) [1] 2,876,388 3,325,698
Deferred policy acquisition costs 8,655,183 7,807,060
Accrued investment income(1) [1] 618,033 466,394
Reinsurance recoverables and deposit receivables (net of $145 and $10 allowance for credit losses; includes $804,855 and $645,193 of embedded derivatives at fair value at December 31, 2025 and 2024, respectively) 54,370,370 48,247,817
Receivables from parent and affiliates 963,452 678,028
Deferred sales inducements 297,413 322,351
Income tax assets [1] 1,741,122 2,120,654
Market risk benefit assets 2,655,866 2,637,363
Other assets [1] 1,852,055 1,850,800
Separate account assets 118,609,218 118,143,256
TOTAL ASSETS 262,393,370 238,454,729
LIABILITIES    
Policyholders’ account balances 86,592,965 69,628,318
Future policy benefits 28,230,098 25,113,767
Market risk benefit liabilities 4,482,417 4,281,244
Cash collateral for loaned securities 22,622 121,372
Reinsurance and funds withheld payables (includes $265 and $0 of embedded derivatives at fair value at December 31, 2025 and 2024, respectively) 11,377,505 8,611,141
Payables to parent and affiliates [1] 2,497,217 3,653,848
Other Liabilities [1] 2,537,050 4,199,803
Separate account liabilities 118,609,218 118,143,256
Total liabilities 254,349,092 233,752,749
Commitments and Contingencies
EQUITY    
Common stock ($10 par value; 1,000,000 shares authorized; 250,000 shares issued and 250,000 outstanding) 2,500 2,500
Additional paid-in capital 5,806,878 4,923,299
Retained Earnings (accumulated deficit) 2,104,835 272,519
Accumulated other comprehensive income (loss) 8,855 (601,877)
Total Pruco Life Insurance Company equity 7,923,068 4,596,441
Noncontrolling Interests 121,210 105,539
Total equity 8,044,278 4,701,980
TOTAL LIABILITIES AND EQUITY $ 262,393,370 $ 238,454,729
[1] See Note 4 for details of balances associated with variable interest entities.