PRUDENTIAL FINANCIAL INC
For the period ended Mar 31, 2025. Filed May 1, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 1, 2025
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Divested and Run-off Businesses
Divested and Run-off Businesses Included in Corporate and Other
Income from our Divested and Run-off Businesses includes results from several businesses that have been or will be sold or exited, including businesses that have been placed in wind down status that do not qualify for “discontinued operations” accounting treatment under U.S. GAAP. The results of these Divested and Run-off Businesses are reflected in our Corporate and Other operations but are excluded from adjusted operating income. A summary of the results of the Divested and Run-off Businesses reflected in our Corporate and Other operations is as follows for the periods indicated:
| Three Months EndedMarch 31, | ||
|---|---|---|
| 2025 | 2024 | |
| (in millions) | ||
| Long-Term Care | $(37) | $134 |
| Other(1) | (14) | (169) |
| Total Divested and Run-off Businesses income (loss) excluded from adjusted operating income | $(51) | $(35) |
(1)Effective second quarter of 2024, the results of PGIMW are excluded from PGIM’s adjusted operating results and are included herein.
Long-Term Care
Results decreased $171 million compared to the prior year period, primarily reflecting unfavorable impacts from changes in the market value of equity securities.
Other Divested and Run-off Businesses
Results increased $155 million compared to the prior year period, primarily reflecting the absence of impairments and charges related to management’s decision to exit Assurance IQ and its subsequent classification as a divested business in the first quarter of 2024.
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