| Quarterly Results of Operations (Unaudited) |
QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) The unaudited quarterly results of operations for the years ended December 31, 2017 and 2016 are summarized in the table below: | | | | | | | | | | | | | | | | | | | | Three Months Ended | | | March 31 | | June 30 | | September 30 | | December 31 | | | | | | | | | | | | (in millions, except per share amounts) | 2017 | | | | | | | | | Total revenues | | $ | 13,670 |
| | $ | 13,441 |
| | $ | 16,313 |
| | $ | 16,265 |
| Total benefits and expenses | | 11,928 |
| | 12,833 |
| | 13,292 |
| | 15,149 |
| Net income (loss) | | 1,372 |
| | 496 |
| | 2,241 |
| | 3,865 |
| Less: Income attributable to noncontrolling interests | | 3 |
| | 5 |
| | 3 |
| | 100 |
| Net income (loss) attributable to Prudential Financial, Inc. | | $ | 1,369 |
| | $ | 491 |
| | $ | 2,238 |
| | $ | 3,765 |
|
| | | | | | | | | | | | | | | | | | Basic earnings per share—Common Stock(1): | | | | | | | | | Net income (loss) attributable to Prudential Financial, Inc. | | $ | 3.14 |
| | $ | 1.13 |
| | $ | 5.19 |
| | $ | 8.78 |
| Diluted earnings per share—Common Stock(1): | | | | | | | | | Net income (loss) attributable to Prudential Financial, Inc. | | $ | 3.09 |
| | $ | 1.12 |
| | $ | 5.09 |
| | $ | 8.61 |
|
| | | | | | | | | | | | | | | | | | 2016 | | | | | | | | | Total revenues | | $ | 14,329 |
| | $ | 14,439 |
| | $ | 16,961 |
| | $ | 13,050 |
| Total benefits and expenses | | 12,597 |
| | 13,098 |
| | 14,646 |
| | 12,733 |
| Net income (loss) | | 1,369 |
| | 925 |
| | 1,832 |
| | 293 |
| Less: Income attributable to noncontrolling interests | | 33 |
| | 4 |
| | 5 |
| | 9 |
| Net income (loss) attributable to Prudential Financial, Inc. | | $ | 1,336 |
| | $ | 921 |
| | $ | 1,827 |
| | $ | 284 |
|
| | | | | | | | | | | | | | | | | | Basic earnings per share—Common Stock(1): | | | | | | | | | Net income (loss) attributable to Prudential Financial, Inc. | | $ | 2.97 |
| | $ | 2.06 |
| | $ | 4.14 |
| | $ | 0.65 |
| Diluted earnings per share—Common Stock(1): | | | | | | | | | Net income (loss) attributable to Prudential Financial, Inc. | | $ | 2.93 |
| | $ | 2.04 |
| | $ | 4.07 |
| | $ | 0.65 |
|
__________ | | (1) | Quarterly earnings per share amounts may not add to the full year amounts due to the averaging of shares. |
Results for the second quarter of 2016 included total pre-tax out of period adjustments resulting in an aggregate decrease of $153 million which primarily consisted of a charge of $148 million to increase reserves, net of a related increase in DAC, for certain universal life products within the Individual Life business. Management evaluated the adjustments and concluded they were not material to the second quarter or to any previously reported quarterly or annual financial statements. |