The Prudential Series Fund
The Prudential Series Fund
The Prudential Series Fund
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Pruco Life Insurance Company<br />
Notes to Consolidated Financial Statements<br />
3. INVESTMENTS (continued)<br />
<strong>The</strong> amortized cost and estimated fair value of fixed maturities, by contractual maturities at December 31, 2008 is shown below:<br />
Available for sale<br />
Amortized<br />
Cost<br />
Fair<br />
Value<br />
(in thousands)<br />
Due in one year or less $ 311,600 $ 310,516<br />
Due after one year through five years 1,408,878 1,344,350<br />
Due after five years through ten years 847,918 754,258<br />
Due after ten years 383,350 352,033<br />
Residential mortgage-backed securities 692,082 718,185<br />
Commercial mortgage-backed securities 525,257 437,263<br />
Asset-backed securities 696,441 627,557<br />
Total $ 4,865,526 $ 4,544,162<br />
Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations. Assetbacked,<br />
commercial mortgage-backed, and residential mortgage-backed securities are shown separately in the table above, as<br />
they are not due at a single maturity date.<br />
Proceeds from the sale of fixed maturities available for sale during 2008, 2007, and 2006, were $1,070 million, $1,488 million,<br />
and $4,378 million, respectively. Proceeds from the maturity of fixed maturities available for sale during 2008, 2007, and 2006,<br />
were $416 million, $554 million, and $781 million, respectively. Gross gains of $14 million, $14 million, and $16 million and<br />
gross losses of $7 million, $6 million, and $74 million were realized on those sales during 2008, 2007, and 2006, respectively.<br />
Other Long term Investments and Trading Account Assets<br />
<strong>The</strong> following table provides information relating to other long term investments and trading account assets as of December 31:<br />
2008 2007<br />
(in thousands)<br />
Company’s investment in Separate accounts $ 41,982 $ 46,028<br />
Joint ventures and limited partnerships 39,671 27,757<br />
Derivatives 5,180 (20,497)<br />
Total other long- term investments $ 86,833 $ 53,288<br />
Trading account assets $ 9,967 $ 1,164<br />
<strong>The</strong> Company’s share of net income from the joint ventures was $2.8 million, $2.0 million, and $0.4 million for each of the years<br />
ended December 31, 2008, 2007, and 2006, respectively, and is reported in ―Net investment income.‖<br />
B-15
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