Significant Accounting Policies and Pronouncements - Impact of DAC Restatement (Tables)

6 Months Ended

Jun. 30, 2012

New Accounting Pronouncements and Changes in Accounting Principles [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Text Block]

Unaudited Interim Consolidated Statement of Financial Position:
		December 31, 2011
		As Previously		Effect of		As Currently
		Reported		Change		Reported
		(in millions)
	Deferred policy acquisition costs	$	16,790	$	(4,273)	$	12,517
	Other assets		16,060		(4)		16,056
	TOTAL ASSETS		624,521		(4,277)		620,244
	Future policy benefits		170,459		212		170,671
	Policyholders' account balances		134,552		6		134,558
	Income taxes		8,083		(1,525)		6,558
	Total liabilities		586,710		(1,307)		585,403
	Accumulated other comprehensive income (loss)		5,563		(145)		5,418
	Retained earnings		19,281		(2,825)		16,456
	Total Prudential Financial, Inc. equity		37,223		(2,970)		34,253
	Total equity		37,811		(2,970)		34,841
	TOTAL LIABILITIES AND EQUITY	$	624,521	$	(4,277)	$	620,244

Unaudited Interim Consolidated Statement of Operations:
			Three Months Ended June 30, 2011
			As Previously Reported			Effect of Change		As Currently Reported
			(in millions)
REVENUES
Premiums			$	6,279	$	(9)	$	6,270
Asset management fees and other income				1,168		6		1,174
	Total revenues			12,247		(3)		12,244
BENEFITS AND EXPENSES
Amortization of deferred policy acquisition costs				643		(132)		511
General and administrative expenses				2,472		217		2,689
	Total benefits and expenses			11,075		85		11,160
INCOME (LOSS) FROM CONTINUING OPERATIONS
	BEFORE INCOME TAXES AND EQUITY IN EARNINGS
		OF OPERATING JOINT VENTURES		1,172		(88)		1,084
	Income tax expense			332		(40)		292
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE
	EQUITY IN EARNINGS OF OPERATING JOINT VENTURES			840		(48)		792
Equity in earnings of operating joint ventures, net of tax				11		(1)		10
INCOME (LOSS) FROM CONTINUING OPERATIONS				851		(49)		802
NET INCOME (LOSS)				867		(49)		818
NET INCOME (LOSS) ATTRIBUTABLE TO PRUDENTIAL FINANCIAL, INC.			$	838	$	(49)	$	789
EARNINGS PER SHARE
Financial Services Businesses
	Basic:
	Income (loss) from continuing operations attributable to
		Prudential Financial, Inc. per share of Common Stock	$	1.67	$	(0.11)	$	1.56
	Net income (loss) attributable to Prudential Financial, Inc.
		per share of Common Stock	$	1.70	$	(0.10)	$	1.60
	Diluted:
	Income (loss) from continuing operations attributable to
		Prudential Financial, Inc. per share of Common Stock	$	1.65	$	(0.10)	$	1.55
	Net income (loss) attributable to Prudential Financial, Inc.
		per share of Common Stock	$	1.68	$	(0.10)	$	1.58
Closed Block Business
	Basic and Diluted:
	Income (loss) from continuing operations attributable to Prudential Financial,
		Inc. per share of Class B Stock	$	(0.50)	$	1.50	$	1.00
	Net income (loss) attributable to Prudential Financial, Inc. per share of Class B
		Stock	$	(0.50)	$	1.50	$	1.00
			Six Months Ended June 30, 2011
			As Previously Reported			Effect of Change		As Currently Reported
			(in millions)
REVENUES
Premiums			$	11,800	$	(20)	$	11,780
Asset management fees and other income				1,817		1		1,818
	Total revenues			22,433		(19)		22,414
BENEFITS AND EXPENSES
Amortization of deferred policy acquisition costs				1,102		(237)		865
General and administrative expenses				4,691		382		5,073
	Total benefits and expenses			20,557		145		20,702
INCOME (LOSS) FROM CONTINUING OPERATIONS
	BEFORE INCOME TAXES AND EQUITY IN EARNINGS
		OF OPERATING JOINT VENTURES		1,876		(164)		1,712
	Income tax expense			522		(70)		452
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE
	EQUITY IN EARNINGS OF OPERATING JOINT VENTURES			1,354		(94)		1,260
Equity in earnings of operating joint ventures, net of tax				116		(2)		114
INCOME (LOSS) FROM CONTINUING OPERATIONS				1,470		(96)		1,374
NET INCOME (LOSS)				1,500		(96)		1,404
NET INCOME (LOSS) ATTRIBUTABLE TO PRUDENTIAL FINANCIAL, INC.			$	1,446	$	(96)	$	1,350
EARNINGS PER SHARE
Financial Services Businesses
	Basic:
	Income (loss) from continuing operations attributable to
		Prudential Financial, Inc. per share of Common Stock	$	2.86	$	(0.21)	$	2.65
	Net income (loss) attributable to Prudential Financial, Inc.
		per share of Common Stock	$	2.92	$	(0.21)	$	2.71
	Diluted:
	Income (loss) from continuing operations attributable to
		Prudential Financial, Inc. per share of Common Stock	$	2.83	$	(0.21)	$	2.62
	Net income (loss) attributable to Prudential Financial, Inc.
		per share of Common Stock	$	2.89	$	(0.21)	$	2.68
Closed Block Business
	Basic and Diluted:
	Income from continuing operations attributable to Prudential Financial, Inc.
		per share of Class B Stock	$	4.50	$	3.00	$	7.50
	Net income attributable to Prudential Financial, Inc. per share of Class B Stock		$	4.50	$	3.00	$	7.50

Unaudited Interim Consolidated Statement of Cash Flows:
			Six Months Ended June 30, 2011
			As Previously Reported			Effect of Change		As Currently Reported
			(in millions)
CASH FLOWS FROM OPERATING ACTIVITIES
Net income			$	1,500	$	(96)	$	1,404
Change in:
	Deferred policy acquisition costs			(792)		145		(647)
	Future policy benefits and other insurance liabilities			3,119		20		3,139
	Other, net			(114)		(69)		(183)
		Cash flows from operating activities	$	5,174	$	0	$	5,174