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Unaudited Interim Consolidated Statements of Operations - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
REVENUES        
Premiums $ 5,985 $ 6,644 $ 20,214 $ 18,580
Policy charges and fee income 1,624 1,496 4,482 4,517
Net investment income 3,741 3,841 11,181 11,433
Asset management and service fees 946 949 2,854 2,781
Other income (loss) (397) (625) (58) 177
Realized investment gains (losses), net:        
Other-than-temporary impairments on fixed maturity securities (81) (2) (149) (113)
Other-than-temporary impairments on fixed maturity securities transferred to Other comprehensive income 8 (3) 39 66
Other realized investment gains (losses), net 1,773 80 4,300 939
Total realized investment gains (losses), net 1,700 75 4,190 892
Total revenues 13,599 12,380 42,863 38,380
BENEFITS AND EXPENSES        
Policyholders’ benefits 6,648 7,334 21,739 20,186
Interest credited to policyholders’ account balances 840 882 2,749 3,075
Dividends to policyholders 367 745 1,585 2,056
Amortization of deferred policy acquisition costs 922 346 1,846 1,265
General and administrative expenses 2,773 2,789 8,018 8,289
Total benefits and expenses 11,550 12,096 35,937 34,871
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND EQUITY IN EARNINGS OF OPERATING JOINT VENTURES 2,049 284 6,926 3,509
Total income tax expense (benefit) 584 (234) 1,962 643
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE EQUITY IN EARNINGS OF OPERATING JOINT VENTURES 1,465 518 4,964 2,866
Equity in earnings of operating joint ventures, net of taxes 2 5 8 11
INCOME (LOSS) FROM CONTINUING OPERATIONS 1,467 523 4,972 2,877
Income (loss) from discontinued operations, net of taxes 0 0 0 8
NET INCOME (LOSS) 1,467 523 4,972 2,885
Less: Income (loss) attributable to noncontrolling interests 2 11 65 45
NET INCOME (LOSS) ATTRIBUTABLE TO PRUDENTIAL FINANCIAL, INC. $ 1,465 $ 512 $ 4,907 $ 2,840
Basic earnings per share-Common Stock:        
Income (loss) from continuing operations attributable to Prudential Financial, Inc. (in dollars per share) [1] $ 3.22 $ 1.00 $ 10.74 $ 5.87
Income (loss) from discontinued operations, net of taxes (in dollars per share) [1] 0.00 0.00 0.00 0.02
Net income (loss) attributable to Prudential Financial, Inc. (in dollars per share) [1] 3.22 1.00 10.74 5.89
Diluted earnings per share-Common Stock:        
Income (loss) from continuing operations attributable to Prudential Financial, Inc. (in dollars per share) [1] 3.16 0.99 10.56 5.79
Income (loss) from discontinued operations, net of taxes (in dollars per share) [1] 0.00 0.00 0.00 0.01
Net income (loss) attributable to Prudential Financial, Inc. (in dollars per share) [1] 3.16 0.99 10.56 5.80
Dividends declared per share of Common Stock (in dollars per share) $ 0.58 $ 0.53 $ 1.74 $ 1.59
[1] For the three and nine months ended September 30, 2015, represents consolidated earnings per share of Common Stock. For the three and nine months ended September 30, 2014, represents earnings of the Company’s former Financial Services Businesses per share of Common Stock. See Note 8 for additional information.