← PRUDENTIAL FINANCIAL INC
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||||
| Current assets: | |||||||||||
| Cash and Cash Equivalents, at Carrying Value | $14.1b | $14.5b | $15.4b | $16.3b | $13.7b | $12.9b | $17.3b | $19.4b | $18.5b | $19.7b | |
| Cash and cash equivalents | $14.1b | $14.5b | $15.4b | $16.3b | $13.7b | $12.9b | $17.3b | $19.4b | $18.5b | $19.7b | |
| Reinsurance recoverables and deposit receivables (net of $14 and $12 allowance for credit losses; includes $573 and $849 of embedded derivatives at fair value at December 31, 2025 and 2024, respectively) | — | — | — | — | — | — | $19.0b | $27.3b | $37.7b | $44.1b | |
| Restricted Cash and Investments, Current | — | $45.0m | — | — | — | — | — | — | — | — | |
| Short-term Investments | — | — | $6.5b | $5.5b | $7.8b | — | — | — | — | — | |
| Short-term investments (net of allowance for credit losses: 2025-$0; 2024-$0) | $7.5b | $6.8b | $6.5b | $5.5b | $7.8b | $6.6b | $4.6b | $5.0b | $9.1b | $6.4b | |
| Goodwill | $833.0m | $843.0m | $863.0m | $3.0b | $3.0b | $1.8b | $876.0m | $1.1b | $1.1b | $1.1b | |
| Intangible Assets, Net (Excluding Goodwill) | $310.0m | $342.0m | $348.0m | $600.0m | $580.0m | $619.0m | $518.0m | $506.0m | $406.0m | $390.0m | |
| Operating Lease, Right-of-Use Asset | — | — | — | $554.0m | $466.0m | $395.0m | $340.0m | $286.0m | $373.0m | $366.0m | |
| Other assets (net of $1 and $2 allowance for credit losses; includes $0 and $0 of assets at fair value at December 31, 2025 and 2024, respectively) | $14.8b | $17.0b | $16.1b | $20.8b | $22.8b | $10.7b | $30.2b | $13.2b | $13.7b | $15.0b | |
| Additional Financial Items | |||||||||||
| Assets supporting experience-rated contractholder liabilities, at fair value | — | $22.1b | $21.3b | $21.6b | $24.1b | $3.4b | $2.8b | $3.2b | $3.7b | $4.8b | |
| Cash collateral for loaned securities | $4.3b | $4.4b | $3.9b | $4.2b | $3.5b | $4.3b | $6.1b | $6.5b | $9.6b | $8.7b | |
| Commercial mortgage and other loans (net of $469 and $574 allowance for credit losses; includes $1,056 and $702 of loans measured at fair value under the fair value option at December 31, 2025 and 2024, respectively) | $52.8b | $56.0b | $59.8b | $63.6b | $65.4b | $58.7b | $56.7b | $59.3b | $62.3b | $64.7b | |
| Common Stock held in treasury, at cost (318,361,498 and 311,738,187 shares at December 31, 2025 and 2024, respectively) | ($15.3b) | ($16.3b) | ($17.6b) | ($19.5b) | ($19.7b) | ($21.8b) | ($23.1b) | ($23.8b) | ($24.5b) | ($25.3b) | |
| Deferred policy acquisition cost | $17.7b | $19.0b | $20.1b | $19.9b | $19.0b | $18.2b | $19.5b | $20.9b | $20.4b | $21.5b | |
| Equity securities, at fair value (cost: 2025-$8,303; 2024-$7,043) | — | $7.3b | $6.2b | $7.5b | $8.1b | $8.6b | $7.2b | $8.2b | $9.4b | $11.0b | |
| Fixed maturities, available-for-sale, at fair value (allowance for credit losses: 2025-$183; 2024-$331) (amortized cost: 2025-$357,996; 2024-$341,004) | $321.4b | $346.8b | $353.7b | $391.1b | $412.9b | $372.4b | $307.7b | $316.3b | $311.6b | $331.5b | |
| Fixed maturities, trading, at fair value (amortized cost: 2025-$15,536; 2024-$13,631) | — | $3.5b | $3.2b | $3.9b | $3.9b | $8.8b | $6.0b | $9.8b | $12.5b | $14.9b | |
| Future policy benefits | $240.9b | $257.3b | $273.8b | $293.5b | $306.3b | $290.8b | $284.5b | $273.3b | $268.9b | $266.9b | |
| Income Tax Assets | — | — | — | — | — | $0 | $4.2b | $939.0m | $866.0m | $279.0m | |
| Market risk benefit assets | — | — | — | — | — | — | $800.0m | $2.0b | $2.3b | $2.3b | |
| Market risk benefit liabilities | — | — | — | — | — | — | $5.9b | $5.5b | $4.5b | $4.6b | |
| Notes issued by consolidated variable interest entities (includes $767 and $60 measured at fair value under the fair value option at December 31, 2025 and 2024, respectively) | $2.1b | $1.5b | $955.0m | $1.3b | $305.0m | $274.0m | $374.0m | $1.4b | $1.4b | $2.7b | |
| Other invested assets (net of $2 and $2 allowance for credit losses; includes $8,285 and $7,574 of assets measured at fair value at December 31, 2025 and 2024, respectively) | — | $13.4b | $14.5b | $15.6b | $18.1b | $21.8b | $21.1b | $22.9b | $26.4b | $27.3b | |
| Other liabilities (includes $16 and $14 allowance for credit losses and $6,215 and $4,751 of derivatives at fair value at December 31, 2025 and 2024, respectively) | $14.7b | $16.6b | $16.0b | $20.8b | $20.3b | $11.8b | $20.5b | $16.1b | $16.7b | $17.7b | |
| Policy loans | $11.8b | $11.9b | $12.0b | $12.1b | $11.3b | $10.4b | $10.0b | $10.0b | $9.8b | $10.0b | |
| Policyholder's dividends | $6k | $6k | $4k | $7k | $10k | $9k | $694 | $1k | $718 | $1k | |
| Policyholders' account balances | $145.2b | $148.2b | $150.3b | $152.1b | $161.7b | $122.6b | $135.6b | $147.0b | $166.3b | $191.3b | |
| Reinsurance and funds withheld payables (includes $174 and $(118) of embedded derivatives at fair value at December 31, 2025 and 2024, respectively) | — | — | — | — | — | — | $5.7b | $15.7b | $17.1b | $18.8b | |
| Securities sold under agreements to repurchase | $7.6b | $8.4b | $9.9b | $9.7b | $10.9b | $10.2b | $6.6b | $6.1b | $6.8b | $9.6b | |
| Separate account assets | $287.6b | $306.6b | $279.1b | $312.3b | $327.3b | $246.1b | $197.7b | $198.9b | $193.4b | $196.3b | |
| Separate account liabilities | $287.6b | $306.6b | $279.1b | $312.3b | $327.3b | $246.1b | $197.7b | $198.9b | $193.4b | $196.3b | |
| Value of business acquired | $2.3b | $1.6b | $1.9b | $1.1b | $1.1b | $771.0m | $595.0m | $530.0m | $435.0m | $397.0m | |
| Total Prudential Financial, Inc. equity | $45.9b | $54.1b | $48.6b | $63.1b | $67.4b | $61.9b | $16.2b | $27.8b | $27.9b | $32.4b | |
| Total equity | $46.1b | $54.3b | $49.0b | $63.7b | $68.2b | $62.6b | $17.2b | $29.3b | $28.2b | $32.8b | |
| Total investments | $444.2b | $469.9b | $479.2b | $522.8b | $553.6b | $492.2b | $417.4b | $434.7b | $444.8b | $470.5b | |
| Total mezzanine equity | — | — | — | — | — | — | $371.0m | $524.0m | $1.9b | $2.8b | |
| Assets | $784.0b | $831.9b | $815.1b | $896.6b | $940.7b | $937.6b | $689.9b | $721.1b | $735.6b | $773.7b | |
| TOTAL ASSETS | $784.0b | $831.9b | $815.1b | $896.6b | $940.7b | $937.6b | $689.9b | $721.1b | $735.6b | $773.7b | |
| LIABILITIES AND EQUITY | |||||||||||
| Accrued investment income | $3.2b | $3.3b | $3.3b | $3.3b | $3.2b | $2.9b | $3.0b | $3.3b | $3.4b | $3.6b | |
| Long-term Debt, Excluding Current Maturities | $18.0b | $17.2b | $17.4b | $18.6b | $19.7b | $18.6b | $19.9b | $18.9b | $19.2b | $18.9b | |
| Short-term debt | $1.1b | $1.4b | $2.5b | $1.9b | $925.0m | $722.0m | $775.0m | $618.0m | $953.0m | $1.4b | |
| Deferred Tax Liabilities, Net | $10.8b | $9.6b | $8.3b | $12.1b | $12.6b | $9.8b | — | $76.0m | — | — | |
| Liabilities | $737.9b | $777.6b | $766.0b | $832.8b | $872.5b | $875.0b | $672.7b | $691.3b | $705.5b | $738.2b | |
| Total liabilities | $737.9b | $777.6b | $766.0b | $832.8b | $872.5b | $875.0b | $672.7b | $691.3b | $705.5b | $738.2b | |
| Redeemable Noncontrolling Interest, Equity, Carrying Amount | — | — | — | — | — | — | — | $524.0m | $1.9b | $2.8b | |
| Redeemable noncontrolling interests | — | — | — | — | — | — | $371.0m | $524.0m | $1.9b | $2.8b | |
| Stockholders’ equity: | |||||||||||
| Accumulated Other Comprehensive Income (Loss), Net of Tax | $14.6b | $17.1b | $10.9b | $24.0b | $30.7b | $21.3b | ($19.8b) | ($6.5b) | ($6.7b) | ($3.1b) | |
| Accumulated other comprehensive income (loss) | $14.6b | $17.1b | $10.9b | $24.0b | $30.7b | $21.3b | ($19.8b) | ($6.5b) | ($6.7b) | ($3.1b) | |
| Additional Paid in Capital, Common Stock | $24.6b | $24.8b | $24.8b | $25.5b | $25.6b | $25.7b | $25.7b | $25.7b | $25.9b | $26.0b | |
| Additional paid-in capital | $24.6b | $24.8b | $24.8b | $25.5b | $25.6b | $25.7b | $25.7b | $25.7b | $25.9b | $26.0b | |
| Common Stock ($0.01 par value; 1,500,000,000 shares authorized; 666,305,189 shares issued as of both December 31, 2025 and 2024) | $6.0m | $6.0m | $6.0m | $6.0m | $6.0m | $6.0m | $6.0m | $6.0m | $6.0m | $6.0m | |
| Common Stock, Value, Issued | $6.0m | $6.0m | $6.0m | $6.0m | $6.0m | $6.0m | $6.0m | $6.0m | $6.0m | $6.0m | |
| Preferred Stock ($0.01 par value; 10,000,000 shares authorized; none issued) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Preferred Stock, Value, Issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Retained Earnings (Accumulated Deficit) | $21.9b | $28.5b | $30.5b | $33.0b | $30.7b | $36.7b | $33.4b | $32.4b | $33.2b | $34.8b | |
| Stockholders' Equity Attributable to Parent | $45.9b | $54.1b | $48.6b | $63.1b | $67.4b | $61.9b | $16.2b | $27.8b | $27.9b | $32.4b | |
| Noncontrolling Interests | $225.0m | $275.0m | $414.0m | $604.0m | $785.0m | $732.0m | $958.0m | $1.4b | $315.0m | $349.0m | |
| Stockholders' Equity Attributable to Noncontrolling Interest | $225.0m | $275.0m | $414.0m | $604.0m | $785.0m | $732.0m | $958.0m | $1.4b | $315.0m | $349.0m | |
| Liabilities and Equity | $784.0b | $831.9b | $815.1b | $896.6b | $940.7b | $937.6b | $689.9b | $721.1b | $735.6b | $773.7b | |
| TOTAL LIABILITIES, MEZZANINE EQUITY AND EQUITY | $784.0b | $831.9b | $815.1b | $896.6b | $940.7b | $937.6b | $689.9b | $721.1b | $735.6b | $773.7b |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.