Adjusted operating income is not calculated under generally accepted accounting principles (GAAP). Information regarding adjusted operating income, a non-GAAP measure, is discussed later in this press release under “Forward-Looking Statements and Non-GAAP Measures,” and a reconciliation of adjusted operating income to the most comparable GAAP measure is provided in the tables that accompany this release.Financial Services Businesses Prudential Financial’s Common Stock (NYSE:PRU) reflects the performance of its Financial Services Businesses, which consist of its U.S. Retirement Solutions and Investment Management, U.S. Individual Life and Group Insurance, and International Insurance divisions and its Corporate and Other operations. In the following business-level discussion, adjusted operating income refers to pre-tax results. The U.S. Retirement Solutions and Investment Management division reported adjusted operating income of $668 million for the fourth quarter of 2012, compared to $769 million in the year-ago quarter. The Individual Annuities segment reported adjusted operating income of $304 million in the current quarter, compared to $373 million in the year-ago quarter. Current quarter results benefited $57 million from net reductions in reserves for guaranteed minimum death and income benefits and a net reduction in amortization of deferred policy acquisition and other costs, reflecting an updated estimate of profitability for this business. Results for the year-ago quarter included a net benefit of $176 million from adjustment of these items to reflect an update of estimated profitability. These benefits to results in both the current quarter and the year-ago quarter were largely driven by market performance relative to our assumptions during the respective periods. In addition, current quarter results include a $9 million charge for impairment of certain capitalized software costs based on a review of recoverability. Excluding the effect of the foregoing items, adjusted operating income for the Individual Annuities segment increased $59 million from the year-ago quarter. The increase reflected higher asset-based fees due to growth in variable annuity account values, net of related amortization of deferred policy acquisition and other costs and distribution expenses. The net benefit from asset-based fees was partly offset by higher expenses, including approximately $17 million of current quarter costs for items including business process improvements that we estimate are in excess of a baseline level relative to current business volume.