PRS · As filed with the SEC
Prudential Financial cash flow statement, by fiscal year
The statement as Prudential Financial presents it in its 10-Q and 10-K: its own lines, labels and order. Tables over time lines up standardized figures across every filing.
Prudential Financial reported Q3 2026 results in an 8-K on Nov 3 (8-K, Nov 3). These statements come from the 10-Q and 10-K, so they update when the 10-Q is filed (expected ~Nov 4, deadline Nov 9). Usually files the day after earnings.
Consolidated Statements of Cash Flows · USD millions
| USD millions | FY2025 Year ended Dec 31, 2025 | FY2024 Year ended Dec 31, 2024 | FY2023 Year ended Dec 31, 2023 | FY2022 Year ended Dec 31, 2022 | FY2021 Year ended Dec 31, 2021 | FY2020 Year ended Dec 31, 2020 |
|---|---|---|---|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES | ||||||
| Net income (loss) | 3,732 | 2,846 | 2,508 | (1,462) | 8,938 | (146) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||
| Realized investment gains(losses), net | 4,132 | 3,429 | 3,615 | 3,369 | (2,115) | 3,887 |
| Change in value of market risk benefits, net of related hedging (gains) losses | 475 | 397 | (56) | — | (3,597) | — |
| Policy charges and fee income | (2,028) | (2,128) | (2,186) | (2,532) | (2,134) | (2,652) |
| Interest credited to policyholders' account balances | 5,068 | 4,582 | 3,983 | 2,316 | 3,431 | 4,538 |
| Goodwill impairment | — | 0 | 177 | 903 | 1,060 | 0 |
| Goodwill impairment | 0 | — | — | — | — | — |
| Depreciation and amortization | 128 | 383 | — | 124 | 206 | 457 |
| Depreciation and amortization | — | — | (70) | — | — | — |
| (Gains) losses on assets supporting experience-rated contractholder liabilities, net | (648) | (595) | (503) | 1,128 | 299 | (743) |
| Change in: | ||||||
| Deferred policy acquisition costs | (1,215) | (1,111) | (869) | 232 | (1,043) | (542) |
| Future policy benefits and other insurance liabilities | 3,493 | 4,803 | 5,489 | 6,573 | 8,741 | 10,817 |
| Reinsurance related-balances | (2,263) | (2,731) | — | — | — | — |
| Income Taxes | (493) | (146) | (442) | (1,685) | 259 | (424) |
| Derivatives, net | 377 | 897 | (746) | (2,981) | (2,330) | (2,940) |
| Other, net | (4,487) | (2,124) | (4,390) | (827) | (1,903) | (3,884) |
| Cash flows from (used in) operating activities | 6,271 | 8,502 | 6,510 | 5,158 | 9,812 | 8,368 |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||||||
| Proceeds from the sale/maturity/prepayment of: | ||||||
| Fixed maturities, available-for-sale | 45,218 | 59,059 | 44,097 | 50,823 | 64,759 | 44,106 |
| Fixed maturities, held-to-maturity | 0 | 0 | 22 | 38 | 239 | 88 |
| Fixed maturities, trading | 4,151 | 3,398 | 1,559 | 1,641 | 3,626 | 690 |
| Assets supporting experience-rated contractholder liabilities | 1,356 | 1,474 | 2,286 | 11,410 | 18,863 | 29,162 |
| Equity securities | 7,741 | 5,790 | 4,348 | 3,697 | 4,290 | 2,704 |
| Commercial mortgage and other loans | 7,762 | 5,466 | 3,985 | 5,580 | 9,367 | 5,447 |
| Policy loans | 1,846 | 1,972 | 1,806 | 1,738 | 2,019 | 2,528 |
| Other invested assets | 2,784 | 1,936 | 1,260 | 1,789 | 2,972 | 1,815 |
| Short-term investments | 33,226 | 33,316 | 32,684 | 40,653 | 32,696 | 47,339 |
| Payments for the purchase/origination of: | ||||||
| Fixed maturities, available-for-sale | (67,592) | (72,997) | (47,580) | (60,070) | (65,174) | (56,523) |
| Fixed maturities, trading | (6,339) | (7,041) | (4,174) | (659) | (5,675) | (1,413) |
| Assets supporting experience-rated contractholder liabilities | (1,895) | (1,773) | (2,290) | (11,799) | (21,394) | (30,822) |
| Equity securities | (8,473) | (6,576) | (4,296) | (3,451) | (4,430) | (3,168) |
| Commercial mortgage and other loans | (9,572) | (9,134) | (6,359) | (5,497) | (9,434) | (6,107) |
| Policy loans | (1,610) | (1,601) | (1,544) | (1,248) | (1,216) | (1,956) |
| Other invested assets | (3,074) | (3,884) | (3,049) | (2,832) | (3,628) | (2,760) |
| Short-term investments | (31,039) | (37,244) | (32,872) | (37,894) | (32,329) | (49,802) |
| Dispositions, net of cash disposed | — | 0 | 0 | 422 | 132 | 1,454 |
| Derivatives, net | (175) | (696) | (1,329) | (1,881) | (429) | 1,286 |
| Other, net | (207) | (50) | (676) | (98) | (596) | (278) |
| Cash flows from (used in) investing activities | (25,892) | (28,585) | (12,122) | (7,638) | (5,342) | (16,210) |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||||||
| Policyholders’ account deposits | 39,889 | 35,913 | 28,521 | 30,094 | 31,795 | 41,424 |
| Policyholders’ account withdrawals | (20,251) | (19,388) | (18,307) | (24,149) | (29,227) | (34,701) |
| Net change in securities sold under agreements to repurchase and cash collateral for loaned securities | 1,881 | 3,884 | (156) | (1,541) | 42 | 499 |
| Cash dividends paid on Common Stock | (1,926) | (1,891) | (1,846) | (1,817) | (1,814) | (1,766) |
| Net change in financing arrangements (maturities 90 days or less) | 449 | (583) | 10 | (214) | 297 | (21) |
| Common Stock acquired | (1,000) | (1,000) | (1,012) | (1,488) | (2,500) | (500) |
| Common Stock reissued for exercise of stock options | 109 | 201 | 126 | 163 | 200 | 153 |
| Proceeds from the issuance of debt (maturities longer than 90 days) | 1,195 | 1,423 | 716 | 2,706 | 268 | 3,013 |
| Repayments of debt (maturities longer than 90 days) | (1,546) | (814) | (1,982) | (1,184) | (1,708) | (2,743) |
| Proceeds from notes issued by consolidated VIEs | 1,564 | 1,436 | 1,360 | 137 | 0 | 0 |
| Repayments of notes issued by consolidated VIEs | (439) | (617) | (336) | 0 | 0 | (19) |
| Other, net | 848 | 830 | 645 | 2,226 | (364) | (456) |
| Cash flows from (used in) financing activities | 20,773 | 19,394 | 7,739 | 4,933 | (3,011) | 4,883 |
| Effect of foreign exchange rate changes on cash balances | 77 | (254) | 37 | (159) | (309) | 340 |
| NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, RESTRICTED CASH AND RESTRICTED CASH EQUIVALENTS INCLUDING BALANCES CLASSIFIED AS HELD-FOR-SALE | — | — | — | 2,294 | 1,150 | (2,619) |
| NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, RESTRICTED CASH AND RESTRICTED CASH EQUIVALENTS INCLUDING BALANCES CLASSIFIED AS HELD-FOR-SALE | — | (943) | 2,164 | — | 1,150 | — |
| NET CHANGE IN CASH BALANCES CLASSIFIED AS HELD-FOR-SALE | — | 0 | 0 | (2,071) | 2,071 | 0 |
| NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, RESTRICTED CASH AND RESTRICTED CASH EQUIVALENTS | 1,229 | (943) | 2,164 | 4,365 | (921) | (2,619) |
| CASH, CASH EQUIVALENTS, RESTRICTED CASH AND RESTRICTED CASH EQUIVALENTS, BEGINNING OF YEAR | 18,520 | 19,463 | 17,299 | 12,934 | 13,855 | 16,474 |
| CASH, CASH EQUIVALENTS, RESTRICTED CASH AND RESTRICTED CASH EQUIVALENTS, END OF YEAR | 19,749 | 18,520 | 19,463 | 17,299 | 12,934 | 13,855 |
| SUPPLEMENTAL CASH FLOW INFORMATION | ||||||
| Income taxes paid, net of refunds | 1,398 | 756 | 895 | 1,090 | 1,668 | 287 |
| Interest paid | 1,907 | 1,995 | 1,555 | 1,452 | 1,452 | 1,531 |
| Assets classified as held-for-sale | — | 0 | 0 | — | 153,935 | — |
| Held-for-sale | — | — | — | (153,793) | 153,793 | 0 |
| Liabilities classified as held-for-sale | — | 0 | 0 | — | 151,508 | — |
| Held-for-sale | — | — | — | (151,359) | 151,359 | 0 |
| Net assets classified as held-for-sale | — | 0 | 0 | — | 2,427 | — |
| Held-for-sale | — | — | — | (2,434) | 2,434 | 0 |
| NON-CASH TRANSACTIONS DURING THE YEAR | ||||||
| Treasury Stock shares issued for stock-based compensation programs | 187 | 217 | 282 | 236 | 138 | 151 |
| Novation of contracts under reinsurance agreement | — | 0 | 491 | 3,129 | 0 | 0 |
| Significant Pension Risk Transfer transactions: | — | — | — | 8,246 | 5,377 | 703 |
| Significant Pension Risk Transfer transactions: | — | — | — | 518 | 1,020 | 346 |
| Novation of annuity contracts from FLIAC | 0 | — | — | — | — | — |
| Novation of investment contracts to Empower | 2,157 | — | — | — | — | — |
| Assets transferred upon surrender of IRA contracts | 0 | 0 | 2,019 | — | 0 | — |
| Significant pension risk transfer transactions: | 108 | 11,693 | 2,264 | — | 5,377 | — |
| Significant pension risk transfer transactions: | 489 | 16,020 | 3,257 | — | 6,397 | — |
| Prismic Re | 0 | 0 | 1,351 | — | 0 | — |
| Wilton Re | 0 | 6,679 | — | — | — | — |
| Prismic Re International | 6,069 | — | — | — | — | — |
| Wilton Re | 0 | 44 | — | — | — | — |
| Prismic Re | 0 | 102 | 8,185 | — | 0 | — |
| Wilton Re | — | 175 | — | — | — | — |
| Prismic Re | 0 | 0 | (5,584) | — | 0 | — |
| Wilton Re | — | (7,362) | — | — | — | — |
| Somerset Re | 0 | — | — | — | — | — |
| Wilton Re | 0 | — | — | — | — | — |
| Prismic Re | 0 | 0 | (3,723) | — | 0 | — |
| Prismic Re International | (6,366) | — | — | — | — | — |
| Prismic Re | 0 | 0 | 23 | — | 0 | — |
| Somerset Re | 0 | 284 | — | — | — | — |
| Wilton Re | 0 | 699 | — | — | — | — |
| Prismic Re International | 219 | — | — | — | — | — |
| Prismic Re | 0 | (102) | (240) | — | 0 | — |
| Wilton Re | 0 | (980) | — | — | — | — |
| Somerset Re | — | (578) | — | — | — | — |
| Wilton Re | 0 | — | — | — | — | — |
| Somerset Re | 0 | 363 | — | — | — | — |
| Significant pension risk transfer transactions: | 381 | 4,327 | 993 | — | 1,020 | — |
| Prismic Re | 0 | 0 | 12 | — | 0 | — |
| Somerset Re | 0 | 69 | — | — | — | — |
| Wilton Re | 0 | (745) | — | — | — | — |
| Prismic Re International | (78) | — | — | — | — | — |
As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.