PRUDENTIAL FINANCIAL INC
For the period ended Mar 31, 2026. Filed May 6, 2026.
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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, 2026 · Filed May 6, 2026
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Corporate and Other
Corporate and Other includes corporate operations, after allocations to our business segments, and Divested and Run-off Businesses other than those that qualify for “discontinued operations” accounting treatment under U.S. GAAP. The following table sets forth Corporate and Other’s operating results for the periods indicated:
| Three Months EndedMarch 31, | ||
|---|---|---|
| 2026 | 2025 | |
| (in millions) | ||
| Operating results: | ||
| Investment income | $46 | $55 |
| Interest expense on debt | (225) | (236) |
| Pension and employee benefits | 92 | 102 |
| Other corporate activities | (243) | (336) |
| Adjusted operating income | (330) | (415) |
| Realized investment gains (losses), net, and related charges and adjustments | (1) | (107) |
| Market experience updates | (3) | (2) |
| Divested and Run-off Businesses | 64 | (51) |
| Equity in earnings of joint ventures and other operating entities and earnings attributable to noncontrolling interests | (13) | 21 |
| Income (loss) before income taxes and equity in earnings of joint ventures and other operating entities | $(283) | $(554) |
The loss from Corporate and Other operations, on an adjusted operating income basis, decreased $85 million primarily reflecting:
lower net charges from other corporate activities, primarily driven by lower corporate spending on initiatives, and favorable foreign exchange rate impacts; and
lower interest expense on debt, largely driven by lower average debt balances.
lower investment income results, primarily driven by lower average asset balances and lower interest rates, partially offset by higher income from non-coupon investments; and
unfavorable pension and employee benefits results, primarily driven by lower earnings from the Company’s pension plans reflecting a decrease in expected returns on plan assets.
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