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Goodwill and Other Intangibles (Tables)
 12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill
The changes in the carrying value of goodwill by reportable segment are as follows:
 
PGIMInternational
Businesses
Corporate and Other(1)
Other(2)
Total
 (in millions)
Goodwill balance, December 31, 2020:
$258 $144 $2,623 $10 $3,035 
Acquisitions(3)304 0 0 0 304 
Impairments0 0 (1,060)0 (1,060)
Foreign currency translation(4)(14)(2)0 (20)
Reclassified to “Assets held-for-sale”(4)0 0 (455)0 (455)
Goodwill balance, December 31, 2021:
558 130 1,106 10 1,804 
Impairments0 0 (903)0 (903)
Foreign currency translation(9)(15)(1)0 (25)
Goodwill balance, December 31, 2022:
549 115 202 10 876 
Acquisitions(5)
373 0 0 0 373 
Impairments0 0 (177)0 (177)
Divestitures(6)
0 0 (23)0 (23)
Foreign currency translation30 (7)(1)0 22 
Goodwill balance, December 31, 2023:
$952 $108 $1 $10 $1,071 
__________
(1)Effective January 1, 2023, Assurance IQ no longer represents a separately reportable segment and is now included within Corporate and Other operations. Prior period amounts have been reclassified to conform to current period presentation.
(2)Other includes goodwill balances assigned to Individual Retirement Strategies, Individual Life, and Group Insurance.
(3)During 2021, PGIM completed the acquisitions of Montana Capital Partners, a European-based private equity secondaries asset manager, and Green Harvest Asset Management LLC, a separately managed account platform providing customized solutions for the high net worth market.
(4)The Full Service Retirement business was classified as a divested business and transferred to Corporate and Other, and its assets, including goodwill, were reclassified to “Assets held-for-sale” as of December 31, 2021. The sale was completed in the second quarter of 2022. See Note 1 for additional information regarding this disposition.
(5)During 2023, PGIM acquired a majority stake in Deerpath Capital Management, LP, a leading U.S.-based private credit and direct lending manager.
(6)A foreign operation that was classified as a divested business and transferred to Corporate and Other during 2020 was sold in 2023.
Schedule of Finite-Lived Intangible Assets
Other intangible balances at December 31, are as follows:
 
 20232022
 Gross Carrying AmountAccumulated
Amortization		Net Carrying AmountGross Carrying AmountAccumulated
Amortization		Net Carrying Amount
 (in millions)
Subject to amortization:
Mortgage servicing rights$884 $(600)$284 $882 $(569)$313 
Customer relationships268 (158)110 202 (146)56 
Software and other189 (135)54 199 (111)88 
Not subject to amortization58 N/A58 61 N/A61 
Total$506 $518 
Schedule of Indefinite-Lived Intangible Assets
Other intangible balances at December 31, are as follows:
 
 20232022
 Gross Carrying AmountAccumulated
Amortization		Net Carrying AmountGross Carrying AmountAccumulated
Amortization		Net Carrying Amount
 (in millions)
Subject to amortization:
Mortgage servicing rights$884 $(600)$284 $882 $(569)$313 
Customer relationships268 (158)110 202 (146)56 
Software and other189 (135)54 199 (111)88 
Not subject to amortization58 N/A58 61 N/A61 
Total$506 $518 
Estimated Future Amortization Expense of Other Intangibles
The following table provides estimated future amortization for the periods indicated:

20242025202620272028ThereafterTotal
(in millions)
Estimated future VOBA amortization$47 $43 $39 $36 $32 $333 $530 
The following table provides estimated future amortization for the periods indicated:

20242025202620272028
(in millions)
Estimated future amortization expense of other intangibles$88 $78 $56 $51 $45