Investor Presentaiton
RECONCILIATIONS BETWEEN ADJUSTED OPERATING INCOME AND THE
COMPARABLE GAAP MEASURE
($ in millions)
2012
2013
Year Ended
2014 2015
2016
2017
$ 479 $ (713) $ 1,533 $ 5,642 $ 4,368 $ 7,863
Six Months Ended
2017
2018
Net income (loss) attributable to Prudential Financial, Inc.
Income attributable to noncontrolling interests
Net income (loss)
Less: Income from discontinued operations, net of taxes
Income (loss) from continuing operations (after-tax)
Less: Earnings attributable to noncontrolling interests
$ 1,860
$ 1,560
50
107
57
529
(606)
1,590
70
5,712
51
4,419
111
8
7,974
1,868
17
7
11
512
(613)
1,579
50
107
57
5,712
70
4,419
7,974
1,868
51
111
8
Income (loss) attributable to Prudential Financial, Inc.
462
(720)
1,522
5,642
4,368
7,863
1,860
Less: Equity in earnings of operating joint ventures, net of taxes and earnings attributable to noncontrolling interests
Income (loss) (after-tax) before equity in earnings of operating joint ventures
10
(48)
(41)
(55)
(2)
(62)
30
452
(672)
1,563
5,697
4,370
7,925
1,830
Less: Reconciling Items:
Realized investment gains, net, and related charges and adjustments
Investment gains (losses) on assets supporting experience rated contractholders liabilities, net
Change in experience-rated contractholder liabilities due to asset value changes
(2,809)
610
(8,149)
(4,130)
1,579
523
(58)
(641)
(250) 339
(524)
(17)
336
(540)
227
(294)
433
21
(151)
(157)
Divested businesses:
Closed Block division
Other divested businesses
Equity in earnings of operating joint ventures and earnings attributable to noncontrolling interests
Total reconciling items, before income taxes
Less: Income taxes, not applicable to adjusted operating income
Total reconciling items, after income taxes
After-tax adjusted operating income
Income taxes, applicable to adjusted operating income
Adjusted operating income before income taxes
58
(132)
45
(615)
29
167
(66)
(84)
38
(29)
28
44
58
(5)
33
(3,383)
(8,115)
(3,874)
1,538
306
243
(538)
$ 4,027 $ 6,369 $ 5,892
(816) (2,857) (1,082)
(2,567) (5,258) (2,792) 1,048
3,019 4,586 4,355 4,649
1,008 1,783 1,537 1,582
$ 6,231
490
43
(3,030)
(212)
263
3,273
(326)
4,107
4,652
2,156
2,638
1,292
1,592
$ 5,399
$ 6,244
$ 2,888
732
744
$ 3,382
(42)
རིན་ཙུཊྛི
1977 884 8.W.N.N.
Prudential
Tokyo Investor Day 9.27.2018
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