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Prudential Financial 2001 Annual Report - page 119 / 172

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119 / 172

Prudential Financial, Inc.

Notes to Consolidated Financial Statements

6.

Investments (continued)

gains

policy

Future

tax

unrealized

(losses) on

acquisition

policy

(liability)

investment

investments

costs

benefits

benefit

gains (losses)

Impact of unrealized investment gains (losses) on:

comprehensive

Deferred

income (loss)

income

related to net

Unrealized

Deferred

Accumulated other

Balance, December 31, 1998 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net investment gains (losses) on investments arising during the period . Reclassification adjustment for (gains) losses included in net income . . Impact of net unrealized investment (gains) losses on deferred policy

$ 3,337 (5,089) 404

$(260)

acquisition costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Impact of net unrealized investment (gains) losses on future policy

566

benefits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Balance, December 31, 1999 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net investment gains (losses) on investments arising during the period . Reclassification adjustment for (gains) losses included in net income . . Impact of net unrealized investment (gains) losses on deferred policy

(1,348) 1,458 621

306

1,092 (3)

acquisition costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Impact of net unrealized investment (gains) losses on future policy

(356)

benefits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(101)

$(1,095)

$ (710)

$ 1,272

1,845

(3,244)

(146)

258

(In Millions)

385

(660)

(540)

918

(230)

391

(213)

353

(391)

701

132

(224)

35

(66)

Balance, December 31, 2000 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net investment gains (losses) on investments arising during the period . Reclassification adjustment for (gains) losses included in net income . . Impact of net unrealized investment (gains) losses on deferred policy

acquisition costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Impact of net unrealized investment (gains) losses on future policy

benefits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Balance, December 31, 2001 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

731 757 884

$ 2,372

(50)

(104)

(218)

359

(284)

473

(332)

552

27

(10)

17

$(320)

$

(77)

$ (747)

$ 1,228

97

(173)

(270)

The table below presents unrealized gains (losses) on investments by asset class:

At December 31,

2001

2000

1999

(In Millions)

Fixed maturities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Equity securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Other long-term investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Unrealized gains (losses) on investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

$2,478

$712

$(2,118)

20

51

733

(126)

(32)

37

$2,372

$731

$(1,348)

Fixed maturities available for sale . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Trading account assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Separate account assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

$18,682 3,379 2,659

$20,080 5,796 2,558

Total securities pledged . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

$24,720

$28,434

Securities Pledged, Restricted Assets and Special Deposits The Company pledges investment securities it owns to unaffiliated parties through certain transactions, including securities lending, securities sold under agreement to repurchase and futures contracts. At December 31, the carrying value of investments pledged to third parties as reported in the Consolidated Statements of Financial Position included the following:

2001 2000 (In Millions)

Prudential Financial 2001 Annual Report

117

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