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Prudential Annuities Life Assurance

Prudential Annuities Life Assurance Corporation (the “Company”, “PALAC”, “we”, or “our”), with its principal offices in Shelton, Connecticut, is a wholly-owned subsidiary of Prudential Annuities Inc. (“PAI”), which in turn is an indirect wholly-owned subsidiary of Prudential Financial Inc. (“Prudential Financial”), a New Jersey corporation. The Company has developed long-term savings and retirement products, which are distributed through its affiliated broker-dealer company, Prudential Annuities Distributors Inc. (“PAD”). The Company issues variable and fixed deferred and immediate annuities for individuals and groups in the United States of America and Puerto Rico. In addition, the Company has a relatively small in force block of variable life insurance policies. The Company stopped actively selling annuity products between March 2010 and December 2017. The Company resumed offering annuity products to new investors (except in New York) when it launched a new fixed index annuity and a new deferred income annuity in 2018.

Calendar

12 May 22
12 Aug 22
31 Dec 22
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 1.58B 1.58B 1.58B 1.58B 1.58B 1.58B
Cash burn (monthly) 146.02M 19.31M (no burn) (no burn) 296.28M (no burn)
Cash used (since last report) 642.23M 84.91M n/a n/a 1.3B n/a
Cash remaining 935.58M 1.49B n/a n/a 274.73M n/a
Runway (months of cash) 6.4 77.3 n/a n/a 0.9 n/a

Beta Read what these cash burn values mean

Financial report summary

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Management Discussion
  • Income (loss) from operations before income taxes decreased $2 billion from a gain of $2.4 million for the three months ended March 31, 2021 to a gain of $0.4 billion for the three months ended March 31, 2022, primarily driven by:
  • •Realized investment gains (losses), net decrease reflecting prior year's favorable impact related to the portions of our U.S. GAAP liability before NPR, that are excluded from our hedge targets driven by rising interest rates and favorable prior year equity market performance.
  • (1)Positive amount represents income; negative amount represents a loss.

Content analysis

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H.S. sophomore Avg
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Removed: actively, affirm, Aid, anticipate, breakout, called, carried, Consolidated, continuity, cooperating, created, critical, decision, declining, defer, distancing, effectively, emergency, ensuring, executing, expire, extended, extension, facilitate, federal, incremental, indefinite, interruption, marketed, prepayment, receivable, relief, remote, replacement, representing, restructuring, safe, September, social, subpoena, suspension, sustain, target, thereof, transitioning, transportation, unamortized, unpaid, whichever, work
Proxies
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