Prudential Financial, Inc. 5.62 (PRS) 10-Q2009 Q1 Quarterly report

Filed: 8 May 09, 12:00am

Content analysis

Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability	H.S. junior Bad

New words: abate, absence, advertising, affirmed, affordable, afforded, allegedly, alongside, alter, andPinchuk, andPrudential, AOCI, appended, ASAP, asBauer, Asian, ASISI, AST, attainment, benign, binding, blend, CAP, caption, card, cataclysmic, CDO, ceded, China, clarified, coinsured, composed, construction, contend, context, count, creditor, creditworthy, cycle, deconsolidation, deep, deliver, delivery, denote, depository, diminution, disadvantage, disgorgement, distinct, dramatic, dropped, duty, earmark, easily, effectuate, enable, enabled, enabling, enforceable, enrichment, Euro, exacerbated, exceptionally, explained, extinguishment, FANIP, fifteen, flawed, foreclosure, FSB, Germany, haircut, halt, honor, identification, inactive, indemnity, ineffective, inGarcia, inseparable, Interbank, internationally, introduced, jointly, judgement, jurisdiction, Kingdom, lag, landscape, Latin, leader, leasing, legacy, Likewise, Litigationother, London, longest, mandatory, margin, meant, mezzanine, mistaken, mix, modification, network, neutral, NR, Numeric, obligor, OCI, official, orphaned, OTTI, outlined, outset, overhaul, passage, paydown, Pennsylvania, perception, permanent, perpetual, physical, posed, PPIP, precursor, predefined, prejudgment, prepaid, PRICOA, prime, pro, problem, proxy, Pruco, punctually, ranking, rata, reacquiring, realign, recapture, recessionary, recoup, refinanced, refinancing, reimburse, removal, remove, removed, renovation, repayment, repricing, requisite, rescission, residual, restart, resume, resumption, revolving, risky, runoff, screening, seed, SEIU, setoff, SEUI, show, Singapore, situation, small, solid, solvency, Step, strain, subprime, succeed, super, swine, TALF, TARP, TBA, team, technology, tenant, threaten, titled, tracked, tranche, tranched, Troubled, unconsolidated, undertaken, undertook, underwritten, unjust, unscheduled, unsuccessful, upper, usage, vehicle, VIE, War, warehouse, warning, waste, withWang, workout, wrongfully, wrote, Yamato

Removed: accrual, Alternatively, anniversary, assured, attrition, authorize, backing, backtesting, Bulletin, certify, Code, complying, cooperating, covenant, dealing, discovery, effected, effort, evidenced, exceeding, existed, faith, fraudulent, Incorporatedand, incurring, inducement, integration, investigating, join, launched, lengthening, liquidated, mark, maximize, medical, newer, organic, overfunded, paragraph, plaintiff, prearranged, register, representative, restore, retiree, SAB, shortcut, superseded, superseding, theJanowskyand, underfunded, uneven, writing

Search this filing

Filing tables

Export all tables to Excel

Filing exhibits

Related press release

PRS similar filings

Filing view

Default size S M L
Default font Times Arial

External links

Share this filing

Exhibit 12.1

PRUDENTIAL FINANCIAL, INC.

RATIO OF EARNINGS TO FIXED CHARGES


	Three Months Ended March 31, 2009			Year Ended December 31,
	Three Months Ended March 31, 2009			2008			2007		2006		2005		2004
									($ in millions)
Earnings:
Income (loss) from continuing operations before income taxes, extraordinary gain on acquisition and cumulative effect of accounting change(1)	$	9		$	(1,806	)	$	5,023	$	4,660	$	4,481	$	3,338
Less:
Undistributed income (loss) of investees accounted for under the equity method		(126	)		(1,026	)		109		70		281		116
Interest capitalized		—			5			6		—		—		—

Adjusted earnings		135			(785	)		4,908		4,590		4,200		3,222

Add fixed charges:
Interest credited to policyholders’ account balances		1,169			2,335			3,222		2,917		2,699		2,359
Gross interest expense(2)		303			1,401			1,502		1,217		785		492
Interest component of rental expense		18			64			60		58		64		66

Total fixed charges		1,490			3,800			4,784		4,192		3,548		2,917

Total earnings plus fixed charges	$	1,625		$	3,015		$	9,692	$	8,782	$	7,748	$	6,139

Ratio of earnings to fixed charges(3)		1.09			—			2.03		2.09		2.18		2.10

(1)	Excludes earnings attributable to noncontrolling interests.

(2)

Interest expense on short-term and long-term debt. Includes interest expense of securities businesses reported in “Net investment income” in the Consolidated Statements of Operations, capitalized interest and amortization of debt discounts and premiums. Interest expense does not include interest on liabilities recorded under Financial Accounting Standards Board (“FASB”) Interpretation No. 48 “Accounting for Uncertainty in Income Taxes,” an Interpretation of FASB Statement No. 109. The Company’s policy is to classify such interest in income tax provision in the consolidated statements of operations.

(3)	Due to the Company’s loss for the year ended December 31, 2008, the ratio coverage was less than 1:1 and is therefore not presented. Additional earnings of $785 million would have been required for the year ended December 31, 2008 to achieve a ratio of 1:1.