What does annuities — deferred policy acquisition cost mean?

This is an asset representing costs incurred to acquire new annuity business that are capitalized and amortized over the expected life of the contracts. It reflects the upfront investment made to generate future revenue streams from annuity products.

Prudential Financial PRU Annuities — Deferred Policy Acquisition Cost

Other product segments

Variable Universal Life

$4.96B+11.1%

Guaranteed Universal Life

$546M—

Similar metrics at other companies

UHALDeferred Fixed Annuity — Deferred Policy Acquisition Costs

$56.98M-5.8%

BHFFixed Rate Annuities — Deferred Policy Acquisition Cost

$120M+3.4%

LNCFixed Annuities — Deferred Policy Acquisition Cost

$479M+23.5%

BHFVariable Annuities — Deferred Policy Acquisition Cost

$1.91B-7.9%

BHFAnnuities — Deferred policy acquisition costs and value of business acquired

$3.95B-1.9%

APOTraditional Deferred Annuities — Deferred Policy Acquisition Cost

$1.51B+14.7%

Other financials

Income statement

See full

Revenue$15.5B+15.3%

Net income$597.0M-15.6%

EPS (diluted)$1.68-14.3%

Balance sheet

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Cash & equivalents$15.9B-0.8%

Total debt$18.9B-3.4%

Total equity$32.0B+7.0%

Total assets$765.40B+3.5%

Cash flow

See full

Operating cash flow$1.0B+140%

Valuation

See full

Market cap$42.64B+16.3%

Enterprise value$45.59B+17.9%

P/E12.3×-9.4×

P/S0.7×+0.1×

Profitability

See full

Net margin5.5%+1.6pp

Returns & leverage

See full

Return on equity11.2%+3.0pp

Debt / equity0.6×-0.1×

Where this comes from

Reported directly by Prudential Financial in its filing.

Tagged under the XBRL concept us-gaap:DeferredPolicyAcquisitionCosts.

The official record: Prudential Financial’s 10-Q, filed May 6, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Prudential Financial's annuities — deferred policy acquisition cost?: Prudential Financial (PRU) reported annuities — deferred policy acquisition cost of $2.25B in Q1 2026.
What does annuities — deferred policy acquisition cost mean?: This is an asset representing costs incurred to acquire new annuity business that are capitalized and amortized over the expected life of the contracts. It reflects the upfront investment made to generate future revenue streams from annuity products.