
	Three Months Ended June 30,
	2025					2024
	Income		Weighted Average Shares	Per Share Amount		Income		Weighted Average Shares	Per Share Amount
	(in millions, except per share amounts)
Basic earnings per share
Net income (loss)	$	566				$	1,171
Less: Income (loss) attributable to noncontrolling interests and redeemable noncontrolling interests	33					(27)
Less: Dividends and undistributed earnings allocated to participating unvested share-based payment awards	6					14
Net income (loss) attributable to Prudential Financial available to holders of Common Stock	$	527	353.1	$	1.49	$	1,184	358.8	$	3.30
Effect of dilutive securities and compensation programs
Add: Dividends and undistributed earnings allocated to participating unvested share-based payment awards—Basic	$	6				$	14
Less: Dividends and undistributed earnings allocated to participating unvested share-based payment awards—Diluted	6					14
Stock options			0.1					0.2
Deferred and long-term compensation programs			1.7					1.5
Diluted earnings per share
Net income (loss) attributable to Prudential Financial available to holders of Common Stock	$	527	354.9	$	1.48	$	1,184	360.5	$	3.28


	Six Months Ended June 30,
	2025					2024
	Income		Weighted Average Shares	Per Share Amount		Income		Weighted Average Shares	Per Share Amount
	(in millions, except per share amounts)
Basic earnings per share
Net income (loss)	$	1,308				$	2,322
Less: Income (loss) attributable to noncontrolling interests and redeemable noncontrolling interests	68					(14)
Less: Dividends and undistributed earnings allocated to participating unvested share-based payment awards	16					29
Net income (loss) attributable to Prudential Financial available to holders of Common Stock	$	1,224	353.7	$	3.46	$	2,307	358.9	$	6.43
Effect of dilutive securities and compensation programs
Add: Dividends and undistributed earnings allocated to participating unvested share-based payment awards—Basic	$	16				$	29
Less: Dividends and undistributed earnings allocated to participating unvested share-based payment awards—Diluted	16					29
Stock options			0.1					0.3
Deferred and long-term compensation programs			1.7					1.3
Diluted earnings per share
Net income (loss) attributable to Prudential Financial available to holders of Common Stock	$	1,224	355.5	$	3.44	$	2,307	360.5	$	6.40

Unvested share-based payment awards that contain nonforfeitable rights to dividends are participating securities and included in the computation of earnings per share pursuant to the two-class method. Under this method, earnings attributable to Prudential Financial are allocated between Common Stock and the participating awards, as if the awards were a second class of stock. During periods of net income available to holders of Common Stock, the calculation of earnings per share excludes the income attributable to participating securities in the numerator and the dilutive impact of these securities from the denominator. In the event of a net loss available to holders of Common Stock, undistributed earnings are not allocated to participating securities and the denominator excludes the dilutive impact of these securities as they do not share in the losses of the Company. Undistributed earnings allocated to participating unvested share-based payment awards for the three months ended June 30, 2025 and 2024, as applicable, were based on 3.9 million and 4.0 million of such awards, respectively, and for the six months ended June 30, 2025 and 2024, as applicable, were based on 3.9 million and 4.1 million of such awards, respectively, weighted for the period they were outstanding.

Stock options and shares related to deferred and long-term compensation programs that are considered antidilutive are excluded from the computation of diluted earnings per share. Stock options are considered antidilutive based on application of the treasury stock method or in the event of a net loss available to holders of Common Stock. Shares related to deferred and long-term compensation programs are considered antidilutive in the event of a net loss available to holders of Common Stock. For the periods indicated, the number of stock options and shares related to deferred and long-term compensation programs that were considered antidilutive and were excluded from the computation of diluted earnings per share, weighted for the portion of the period they were outstanding, are as follows:


	Three Months Ended June 30,
	2025			2024
	Shares	Exercise Price Per Share		Shares	Exercise Price Per Share
	(in millions, except per share amounts, based on weighted average)
Antidilutive stock options based on application of the treasury stock method	0.2	$	108.68	0.0	N/A
Antidilutive stock options due to net loss available to holders of Common Stock	0.0			0.0
Antidilutive shares based on application of the treasury stock method	0.0			0.0
Antidilutive shares due to net loss available to holders of Common Stock	0.0			0.0
Total antidilutive stock options and shares	0.2			0.0


	Six Months Ended June 30,
	2025			2024
	Shares	Exercise Price Per Share		Shares	Exercise Price Per Share
	(in millions, except per share amounts, based on weighted average)
Antidilutive stock options based on application of the treasury stock method	0.1	$	108.68	0.1	$	110.42
Antidilutive stock options due to net loss available to holders of Common Stock	0.0			0.0
Antidilutive shares based on application of the treasury stock method	0.0			0.0
Antidilutive shares due to net loss available to holders of Common Stock	0.0			0.0
Total antidilutive stock options and shares	0.1			0.1