PRU (Prudential Financial) Effective Interest Rate on Debt % : 9.11% (As of Sep. 2024)

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What is Prudential Financial Effective Interest Rate on Debt %?

Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. Prudential Financial's annualized positive value of Interest Expense for the quarter that ended in Sep. 2024 was $1,940 Mil. Prudential Financial's average total debt for the quarter that ended in Sep. 2024 was $21,299 Mil. Therefore, Prudential Financial's annualized Effective Interest Rate on Debt % for the quarter that ended in Sep. 2024 was 9.11%.

Prudential Financial Effective Interest Rate on Debt % Historical Data

The historical data trend for Prudential Financial's Effective Interest Rate on Debt % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Prudential Financial Effective Interest Rate on Debt % Chart

Prudential Financial Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Effective Interest Rate on Debt %

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7.81

8.42

Prudential Financial Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Effective Interest Rate on Debt %	Get a 7-Day Free Trial															8.37	8.59	10.09	9.10	9.11

Competitive Comparison of Prudential Financial's Effective Interest Rate on Debt %

For the Insurance - Life subindustry, Prudential Financial's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Prudential Financial's Effective Interest Rate on Debt % Distribution in the Insurance Industry

For the Insurance industry and Financial Services sector, Prudential Financial's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where Prudential Financial's Effective Interest Rate on Debt % falls into.

Prudential Financial Effective Interest Rate on Debt % Calculation

Prudential Financial's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Dec. 2023 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (A: Dec. 2022 )	+	Total Debt (A: Dec. 2023 ))	/ count )
=	-1 * -1766	/	( (21057	+	20874)	/ 2 )
=	-1 * -1766	/	20965.5
=	8.42 %

where

	Total Debt (A: Dec. 2022 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	19982	+	1075
=	21057

	Total Debt (A: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	20001	+	873
=	20874

Prudential Financial's annualized Effective Interest Rate on Debt % for the quarter that ended in Sep. 2024 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (Q: Jun. 2024 )	+	Total Debt (Q: Sep. 2024 ))	/ count )
=	-1 * -1940	/	( (21115	+	21482)	/ 2 )
=	-1 * -1940	/	21298.5
=	9.11 %

where

	Total Debt (Q: Jun. 2024 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	20272	+	843
=	21115

	Total Debt (Q: Sep. 2024 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	20277	+	1205
=	21482

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is four times the quarterly (Sep. 2024) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.

Prudential Financial (NYSE:PRU) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.

Prudential Financial Effective Interest Rate on Debt % Related Terms

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Prudential Financial Business Description

Industry

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Traded in Other Exchanges

1PRU:Italy 0KRX:UK PLL:Germany PLL:Germany P1DT34:Brazil PRU:Austria

Address

751 Broad Street, Newark, NJ, USA, 07102

Website

https://www.investor.prudential.com

Prudential Financial is a large, diversified insurance company offering annuities, life insurance, retirement plan services, and asset management products. While it operates in a number of countries, the vast majority of revenue is generated in the United States and Japan. The company's investment management business, PGIM, contributes approximately 10% of its earnings and has around $1.3 trillion in assets under management. The US businesses are responsible for about 50% of earnings and can be classified into Institutional Retirement Strategies, Individual Retirement Strategies, Group Insurance, Individual Life Insurance, and Assurance IQ. Finally, the international business segment of the company contributes approximately 40% of earnings with a strong market position in Japan.

Executives

Charles F Lowrey	officer: Executive Vice President	751 BROAD STREET, 5TH FLOOR, ATTN: REGULATORY FILINGS UNIT, NEWARK NJ 07102
Andrew F Sullivan	officer: Executive Vice President	751 BROAD STREET, 5TH FLOOR, ATTN: REGULATORY FILINGS UNIT, NEWARK NJ 07102
Robert Falzon	officer: EVP and CFO	751 BROAD STREET, 5TH FLOOR, ATTN.: REGULATORY FILINGS UNIT, NEWARK NJ 07102
Caroline Feeney	officer: Executive Vice President	751 BROAD STREET, 5TH FLOOR, ATTN: REGULATORY FILINGS UNIT, NEWARK NJ 07102
Ann M Kappler	officer: EVP and General Counsel	PRUDENTIAL FINANCIAL, INC., 751 BROAD STREET, 5TH FLOOR, NEWARK NJ 07102
Timothy L Schmidt	officer: Senior Vice President	751 BROAD STREET, 5TH FLOOR, ATTN: REGULATORY FILINGS UNIT, NEWARK NJ 07102
Robert Axel	officer: SVP and Controller	751 BROAD STREET, 5TH FLOOR, ATTN.: REGULATORY FILINGS UNIT, NEWARK NJ 07102
Kenneth Tanji	officer: EVP and CFO	751 BROAD STREET, 5TH FLOOR, ATTN: REGULATORY FILINGS UNIT, NEWARK NJ 07102
Kathleen Murphy	director	751 BROAD STREET, 5TH FLOOR, ATTN: REGULATORY FILINGS UNIT, NEWARK NJ 07102
Nicholas C Silitch	officer: Senior Vice President	751 BROAD STREET, 5TH FLR, ATTN.: REGULATORY FILINGS UNIT, NEWARK NJ 07102
Scott Sleyster	officer: Senior Vice President	751 BROAD STREET, 5TH FLOOR, ATTN.: REGULATORY FILINGS UNIT, NEWARK NJ 07102
Michael Todman	director	C/O TMA LIMITED, LLC, 500 RENAISSANCE DRIVE, SUITE 103B, ST. JOSEPH MI 49085
Wendy Elizabeth Jones	director	2025 HAMILTON AVE, SAN JOSE CA 95125
Stacey Goodman	officer: Executive Vice President	C/O CIT GROUP INC., ATTN:GENERAL COUNSEL, 1 CIT DRIVE, LIVINGSTON NJ 07039
Candace Woods	officer: Senior Vice President	751 BROAD STREET, 5TH FLOOR, ATTN: REGULATORY FILINGS UNIT, NEWARK NJ 07102