Tokyo Investor Day
RECONCILIATIONS BETWEEN ADJUSTED OPERATING INCOME
AND THE COMPARABLE GAAP MEASURE
($ millions)
After-tax adjusted operating income (AOI) (1)
Reconciling items:
Realized investment gains (losses), net, and related charges and adjustments
Investment gains (losses) on trading account assets supporting insurance liabilities, net
Change in experience-rated contractholder liabilities due to asset value changes
Divested businesses:
Year to Date
2011
2012
2013
2014
2015
2Q15
2Q16
$
2,917
$
3,019 $
4,586 $
4,355 $
4,649 $
2,648 $
1,826
847
223
(2,809)
610
(8,149)
(250)
(4,130)
1,579
1,337
698
339
(524)
(137)
324
(123)
(540)
227
(294)
433
37
(263)
Closed Block division
58
30
(105)
Other divested businesses
90
(615)
29
167
(66)
(34)
20
Equity in earnings of operating joint ventures and earnings attributable to noncontrolling interests
Total reconciling items, before income taxes
(227)
(29)
28
44
58
58
17
810
(3,383)
(8,115)
(3,874)
1,538
1,291
691
Income taxes, not applicable to adjusted operating income
424
(816)
(2,857)
(1,082)
490
440
243
Total reconciling items, after income taxes
386
(2,567)
(5,258)
(2,792)
1,048
851
448
Income (loss) from continuing operations (after-tax)
before equity in earnings of operating joint ventures
3,303
452
(672)
1,563
5,697
3,499
2,274
Equity in earnings of operating joint ventures, net of taxes and earnings attributable to noncontrolling interests
Income (loss) from continuing operations attributable to Prudential Financial, Inc.
148
10
(48)
(41)
(55)
(57)
(17)
3,451
462
(720)
1,522
5,642
3,442
2,257
Earnings attributable to noncontrolling interests
34
50
107
57
70
63
37
Income (loss) from continuing operations (after-tax)
3,485
512
(613)
1,579
5,712
3,505
2,294
Income from discontinued operations, net of taxes
Net income (loss)
Less: Income attributable to noncontrolling interests
Net income (loss) attributable to Prudential Financial, Inc.
35
17
7
11
3,520
34
529
$
3,486 $
50
479 $
(606)
107
(713) $
1,590
57
1,533 $
5,712
70
5,642 $
3,505
2,294
63
37
3,442 $
2,257
1) Represents results of the former Financial Services Businesses for periods prior to 2015.
Prudential
Tokyo Investor Day 9.15.2016
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