REVISION OF PRIOR PERIOD FINANCIAL STATEMENTS

9 Months Ended

Sep. 30, 2018

Accounting Changes and Error Corrections [Abstract]

Revision of Prior Period Financial Statements

REVISION OF PRIOR PERIOD FINANCIAL STATEMENTS

As previously reported, during the preparation of the second quarter 2018 financial statements, management identified errors in its previously issued financial statements related to: (a) a misclassification between interest credited and net derivative gains/losses, (b) an error in an actuarial model used to determine the deferred acquisition cost asset and related amortization for a specific group of insurance products issued by the Company, and (c) the understatement of a charge from Holdings related to partial settlement of a pension plan obligation. The impact of these errors to the Company’s consolidated financial statements for the three months ended March 31, 2018, the nine months ended September 30, 2017, the six months ended June 30, 2017, the three months ended March 31, 2017 and the years ended December 31, 2017 and 2016 were not considered to be material.

In addition, during the preparation of its third quarter 2018 financial statements, management identified errors in its previously issued financial statements. These errors primarily relate to the calculation of policyholders’ benefit reserves for the Company’s life and annuity products and the calculation of net derivative gains (losses) and DAC amortization for certain variable and interest sensitive life products. The impact of these errors were not considered to be material to the consolidated financial statements as of and for the three months ended March 31, 2018, the three and six months ended June 30, 2018, the three and nine months ended September 30, 2017, the three and six months ended June 30, 2017, the three months ended March 31, 2017 and the years ended December 31, 2017, 2016 and 2015. However, in order to improve the consistency and comparability of the financial statements, management has determined to revise the Company’s consolidated financial statements for the three and six months ended March 31, 2018 and June 30, 2018, respectively, as well as the three, six and nine months ended March 31, 2017, June 30, 2017 and September 30, 2017, respectively and for the years ended December 31, 2017, 2016 and 2015.

The following tables present line items for June 30, 2018 financial information that has been affected by the revisions. This information has been corrected from the information previously presented in the Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2018. For these items, the tables detail the amounts as previously reported, the impact upon those line items due to the revisions, as revised after the revisions and the amounts as currently revised.

	As Previously Reported		Impact of Revisions			As Revised
	(in millions)
As of June 30, 2018
Assets:
DAC	$	4,786	$	(76	)	$	4,710
Amounts due from reinsurers	3,088		(9		)	3,079
Current and deferred taxes	159		3			162
Total Assets	219,306		(82		)	219,224
Liabilities:
Future policyholders' benefits and other policyholders' liabilities	28,122		(64		)	28,058
Total Liabilities	202,196		(64		)	202,132
Equity:
Retained Earnings	6,617		(18		)	6,599
AXA Equitable Equity	13,925		(18		)	13,907
Equity	16,964		(18		)	16,946
Total Liabilities and Equity	$	219,306	$	(82	)	$	219,224

	As Previously Reported			Impact of Revisions			As Revised
	(in millions)
Three Months Ended June 30, 2018
Statements of Income (Loss):
Revenues:
Policy charges and fee income	$	904		$	(21	)	$	883
Net derivative gains (losses)	(312		)	27			(285		)
Total revenues	2,439			6			2,445
Benefits and other deductions:
Policyholders' benefits	1,339			(38		)	1,301
Amortization of deferred policy acquisition costs, net	31			5			36
Total benefits and other deductions	4,950			(33		)	4,917
Income (loss) from operations, before income taxes	(2,511		)	39			(2,472		)
Income tax (expense) benefit	553			(9		)	544
Net income (loss)	(1,958		)	30			(1,928		)
Net income (loss) attributable to AXA Equitable	$	(2,114	)	$	30		$	(2,084	)

	As Previously Reported			Impact of Revisions		As Revised
	(in millions)
Three Months Ended June 30, 2018
Statements of Comprehensive Income (Loss):
Net income (loss)	$	(1,958	)	$	30	$	(1,928	)
Comprehensive income (loss)	(2,278		)	30		(2,248		)
Comprehensive income (loss) attributable to AXA Equitable	$	(2,420	)	$	30	$	(2,390	)

	As Previously Reported			Impact of Revisions			As Revised
	(in millions)
Six Months Ended June 30, 2018
Statements of Income (Loss):
Revenues:
Policy charges and fee income	$	1,773		$	(29	)	$	1,744
Net derivative gains (losses)	(1,172		)	72			(1,100		)
Total revenues	4,387			43			4,430
Benefits and other deductions:
Policyholders' benefits	1,828			(47		)	1,781
Amortization of deferred policy acquisition costs, net	89			21			110
Total benefits and other deductions	7,100			(26		)	7,074
Income (loss) from operations, before income taxes	(2,713		)	69			(2,644		)
Income tax (expense) benefit	622			(15		)	607
Net income (loss)	(2,091		)	54			(2,037		)
Net income (loss) attributable to AXA Equitable	$	(2,401	)	$	54		$	(2,347	)

	As Previously Reported			Impact of Revisions		As Revised
	(in millions)
Six Months Ended June 30, 2018
Statements of Comprehensive Income (Loss):
Net income (loss)	$	(2,091	)	$	54	$	(2,037	)
Comprehensive income (loss)	(3,160		)	54		(3,106		)
Comprehensive income (loss) attributable to AXA Equitable	$	(3,463	)	$	54	$	(3,409	)

	As Previously Reported			Impact of Revisions			As Revised
	(in millions)
Six Months Ended June 30, 2018
Statements of Equity:
Retained earnings, beginning of year	$	9,010		$	(72	)	$	8,938
Net income (loss) attributable to AXA Equitable	(2,401		)	54			(2,347		)
Retained earnings, end of period	6,617			(18		)	6,599
Total AXA Equitable’s equity, end of period	13,925			(18		)	13,907
Total Equity, End of Period	$	16,964		$	(18	)	$	16,946

	As Previously Reported			Impact of Revisions			As Revised
	(in millions)
Six Months Ended June 30, 2018
Statements of Cash flows:
Cash flow from operating activities:
Net income (loss)	$	(2,091	)	$	54		$	(2,037	)
Policy charges and fee income	(1,773		)	29			(1,744		)
Net derivative (gains) loss	1,172			(72		)	1,100
Changes in:
Future policy benefits	396			(47		)	349
Deferred policy acquisition costs	89			21			110
Current and deferred income taxes	(645		)	15			(630		)
Net cash provided by (used in) operating activities	$	1,190		$	—		$	1,190

The following tables present line items for March 31, 2018 financial information that has been affected by the revisions. This information has been corrected from the information previously presented in the Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2018. For these items, the tables detail the amounts as previously reported, the impact upon those line items due to the revisions, and the amounts as currently revised.

	As Previously Reported		Impact of Revisions			As Revised
	(in millions)
As of March 31, 2018
Assets:
DAC	$	4,826	$	(119	)	$	4,707
Total Assets	222,424		(119		)	222,305
Liabilities:
Future policyholders' benefits and other policyholders' liabilities	28,374		(10		)	28,364
Current and deferred taxes	1,728		(38		)	1,690
Other liabilities	3,041		70			3,111
Total Liabilities	202,767		22			202,789
Equity:
Retained Earnings	8,824		(141		)	8,683
AXA Equitable Equity	15,545		(141		)	15,404
Equity	18,633		(141		)	18,492
Total Liabilities and Equity	$	222,424	$	(119	)	$	222,305

		As Previously Reported			Impact of Revisions			As Revised
	(in millions)
Three Months Ended March 31, 2018
Consolidated Statement of Income (Loss):
Revenues:
Policy charges and fee income		$	869		$	(8	)	$	861
Net derivative gains (losses)		(777		)	(38		)	(815		)
Total Revenues		2,031			(46		)	1,985
Benefits and other deductions:
Policyholders’ benefits		489			(9		)	480
Interest credited to policyholders’ account balances		338			(83		)	255
Compensation and benefits		456			70			526
Amortization of deferred policy acquisition costs, net		10			64			74
Total benefits and other deductions		2,115			42			2,157
Income (loss) from operations, before income taxes		(84		)	(88		)	(172		)
Income tax (expense) benefit		44			19			63
Net income (loss)		(40		)	(69		)	(109		)
Net income (loss) attributable to AXA Equitable		$	(194	)	$	(69	)	$	(263	)

		As Previously Reported			Impact of Revisions			As Revised
	(in millions)
Three Months Ended March 31, 2018
Statements of Comprehensive Income (Loss):
Net income (loss)		$	(40	)	$	(69	)	$	(109	)
Comprehensive income (loss)		(789		)	(69		)	(858		)
Comprehensive income (loss) attributable to AXA Equitable		$	(950	)	$	(69	)	$	(1,019	)

	As Previously Reported			Impact of Revisions			As Revised
	(in millions)
Three Months Ended March 31, 2018
Statements of Equity:
Retained earnings, beginning of year	$	9,010		$	(72	)	$	8,938
Net income (loss)	(194		)	(69		)	(263		)
Retained earnings, end of period	8,824			(141		)	8,683
Total AXA Equitable’s equity, end of period	15,545			(141		)	15,404
Total Equity, End of Period	$	18,633		$	(141	)	$	18,492

	As Previously Reported			Impact of Revisions			As Revised
Three Months Ended March 31, 2018	(in millions)
Consolidated Statement of Cash Flows:
Cash flow from operating activities:
Net income (loss)	$	(40	)	$	(69	)	$	(109	)
Policy charges and fee income	(869		)	8			(861		)
Interest credited to policyholders’ account balances	338			(83		)	255
Net derivative (gains) loss	777			38			815
Changes in:
DAC	10			64			74
Future policy benefits	(191		)	(9		)	(200		)
Current and deferred income taxes	(52		)	(19		)	(71		)
Other, net	(122		)	70			(52		)
Net cash provided by (used in) operating activities	$	(21	)	$	—		$	(21	)

The following tables present line items for September 30, 2017 financial information that has been affected by the revisions. This information has been corrected from the information previously presented in the Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2017. For these items, the tables detail the amounts as previously reported and the impact upon those line items due to the revisions and the amounts as currently revised.

	As Previously Reported		Impact of Revisions			As Revised
	(in millions)
As of September 30, 2017
Assets:
DAC	$	4,550	$	278		$	4,828
Amounts due from reinsurers	5,016		(12		)	5,004
GMIB reinsurance contract asset, at fair value	10,933		(33		)	10,900
Other Assets	4,258		18			4,276
Total Assets	219,069		251			219,320
Liabilities:
Future policyholders' benefits and other policyholders' liabilities	29,423		36			29,459
Current and deferred taxes	3,148		88			3,236
Total Liabilities	202,669		124			202,793
Equity:
Retained Earnings	7,265		158			7,423
Accumulated other comprehensive income (loss)	362		(31		)	331
AXA Equitable Equity	12,990		127			13,117
Equity	15,959		127			16,086
Total Liabilities and Equity	$	219,069	$	251		$	219,320

	As Previously Reported			Impact of Revisions			As Revised
	(in millions)
Nine Months Ended September 30, 2017
Statements of Income (Loss):
Revenues:
Policy charges and fee income	$	2,626		$	(110	)	$	2,516
Premiums	645			20			665
Net derivative gains (losses)	1,376			(328		)	1,048
Total revenues	9,673			(418		)	9,255
Benefits and other deductions:
Policyholders' benefits	3,308			(124		)	3,184
Interest credited to policyholders' account balances	1,008			(327		)	681
Amortization of deferred policy acquisition costs, net	15			27			42
Total benefits and other deductions	7,800			(424		)	7,376
Income (loss) from operations, before income taxes	1,873			6			1,879
Income tax (expense) benefit	(196		)	(2		)	(198		)
Net income (loss)	1,677			4			1,681
Net income (loss) attributable to AXA Equitable	$	1,324		$	4		$	1,328

	As Previously Reported		Impact of Revisions			As Revised
	(in millions)
Nine Months Ended September 30, 2017
Statements of Comprehensive Income (Loss):
Net income (loss)	$	1,677	$	4		$	1,681
Change in unrealized gains (losses), net of reclassification adjustment	362		(26		)	336
Other comprehensive income	380		(26		)	354
Comprehensive income (loss)	2,057		(22		)	2,035
Comprehensive income (loss) attributable to AXA Equitable	$	1,685	$	(22	)	$	1,663

	As Previously Reported		Impact of Revisions			As Revised
	(in millions)
Nine Months Ended September 30, 2017
Statements of Equity:
Retained earnings, beginning of year	$	5,941	$	154		$	6,095
Net income (loss)	1,324		4			1,328
Retained earnings, end of period	7,265		158			7,423
Accumulated other comprehensive income, beginning of year	1		(5		)	(4		)
Other comprehensive income (loss)	361		(26		)	335
Accumulated other comprehensive income, end of period	362		(31		)	331
Total AXA Equitable’s equity, end of period	12,990		127			13,117
Total Equity, End of Period	$	15,959	$	127		$	16,086

	As Previously Reported			Impact of Revisions			As Revised
	(in millions)
Nine Months Ended September 30, 2017
Statements of Cash flows:
Cash flow from operating activities:
Net income (loss)	$	1,677		$	4		$	1,681
Policy charges and fee income	(2,626		)	110			(2,516		)
Interest credited to policyholders’ account balances	1,008			(327		)	681
Net derivative (gains) loss	(1,376		)	328			(1,048		)
Changes in:
Deferred Policy Acquisition costs	15			27			42
Future policy benefits	1,289			(143		)	1,146
Current and deferred income taxes	639			1			640
Net cash provided by (used in) operating activities	$	994		$	—		$	994

The following tables present line items for June 30, 2017 financial information that has been affected by the revisions and the change in accounting principle. This information has been corrected from the information previously presented in the Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2017. For these items, the tables detail the amounts as previously reported, the impact upon those line items due to the revisions, as revised after the revisions, the impacts of the change in accounting principle and the amounts as currently revised.

	As Previously Reported		Impact of Revisions			As Revised
As of June 30, 2017
Assets:
DAC	$	4,913	$	(63	)	$	4,850
Total Assets	215,713		(63		)	215,650
Liabilities:
Future policyholders' benefits and other policyholders' liabilities	29,679		53			29,732
Current and deferred taxes	3,267		(39		)	3,228
Total Liabilities	199,095		14			199,109
Equity:
Retained Earnings	7,479		(77		)	7,402
AXA Equitable Equity	13,273		(77		)	13,196
Equity	16,257		(77		)	16,180
Total Liabilities and Equity	$	215,713	$	(63	)	$	215,650

	As Previously Reported			Impact of Revisions			As Revised
	(in millions)
Three Months Ended June 30, 2017
Statements of Income (Loss):
Revenues:
Policy charges and fee income	$	846		$	(12	)	$	834
Net derivative gains (losses)	1,763			8			1,771
Total revenues	4,548			(4		)	4,544
Benefits and other deductions:
Policyholders' benefits	1,363			(7		)	1,356
Amortization of deferred policy acquisition costs, net	(49		)	(1		)	(50		)
Interest credited to policyholders’ account balances	208			(9		)	199
Total benefits and other deductions	2,516			(17		)	2,499
Income (loss) from operations, before income taxes	2,032			13			2,045
Income tax (expense) benefit	(419		)	(5		)	(424		)
Net income (loss)	1,613			8			1,621
Net income (loss) attributable to AXA Equitable	$	1,500		$	8		$	1,508

	As Previously Reported		Impact of Revisions		As Revised
	(in millions)
Three Months Ended June 30, 2017
Statements of Comprehensive Income (Loss):
Net income (loss)	$	1,613	$	8	$	1,621
Comprehensive income (loss)	1,887		8		1,895
Comprehensive income (loss) attributable to AXA Equitable	$	1,794	$	8	$	1,802

	As Previously Reported			Impact of Revisions			As Revised
	(in millions)
Six Months Ended June 30, 2017
Statements of Income (Loss):
Revenues:
Policy charges and fee income	$	1,698		$	(34	)	$	1,664
Net derivative gains (losses)	1,362			54			1,416
Total revenues	6,823			20			6,843
Benefits and other deductions:
Policyholders' benefits	2,338			(10		)	2,328
Amortization of deferred policy acquisition costs, net	(20		)	62			42
Total benefits and other deductions	4,966			52			5,018
Income (loss) from operations, before income taxes	1,857			(32		)	1,825
Income tax (expense) benefit	(298		)	11			(287		)
Net income (loss)	1,559			(21		)	1,538
Net income (loss) attributable to AXA Equitable	$	1,328		$	(21	)	$	1,307

	As Previously Reported		Impact of Revisions			As Revised
	(in millions)
Six Months Ended June 30, 2017
Statements of Comprehensive Income (Loss):
Net income (loss)	$	1,559	$	(21	)	$	1,538
Change in unrealized gains (losses), net of reclassification adjustment	386		21			407
Other comprehensive income	401		21			422
Comprehensive income (loss)	1,960		—			1,960
Comprehensive income (loss) attributable to AXA Equitable	$	1,742	$	—		$	1,742

	As Previously Reported		Impact of Revisions			As Revised
	(in millions)
Six Months Ended June 30, 2017
Statements of Equity:
Retained earnings, beginning of year	$	6,151	$	(56	)	$	6,095
Net income (loss) attributable to AXA Equitable	1,328		(21		)	1,307
Retained earnings, end of period	7,479		(77		)	7,402
Accumulated other comprehensive income, beginning of year	17		(21		)	(4		)
Other comprehensive income (loss)	414		21			435
Accumulated other comprehensive income, end of period	431		—			431
Total AXA Equitable’s equity, end of period	13,273		(77		)	13,196
Total Equity, End of Period	$	16,257	$	(77	)	$	16,180

	As Previously Reported			Impact of Revisions			As Revised
	(in millions)
Six Months Ended June 30, 2017
Statements of Cash flows:
Cash flow from operating activities:
Net income (loss)	$	1,559		$	(21	)	$	1,538
Policy charges and fee income	(1,698		)	34			(1,664		)
Net derivative (gains) loss	(1,362		)	(54		)	(1,416		)
Changes in:
Future policy benefits	1,303			(10		)	1,293
Deferred policy acquisition costs	(20		)	62			42
Current and deferred income taxes	204			(11		)	193
Net cash provided by (used in) operating activities	$	(75	)	$	—		$	(75	)

The following tables present line items for March 31, 2017 financial information that has been affected by the revisions and the change in accounting principle. This information has been corrected from the information previously presented in the Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2017. For these items, the tables detail the amounts as previously reported, the impact upon those line items due to the revisions, as revised after the revisions, the impacts of the change in accounting principle and the amounts as currently revised.

	As Previously Reported		Impact of Revisions			As Revised
	(in millions)
As of March 31, 2017
Assets:
DAC	$	4,961	$	(64	)	$	4,897
Total Assets	210,013		(64		)	209,949
Liabilities:
Future policyholders' benefits and other policyholders' liabilities	28,691		66			28,757
Current and deferred taxes	2,726		(46		)	2,680
Total Liabilities	195,091		20			195,111
Equity:
Retained Earnings	5,978		(84		)	5,894
AXA Equitable Equity	11,459		(84		)	11,375
Equity	14,505		(84		)	14,421
Total Liabilities and Equity	$	210,013	$	(64	)	$	209,949

	As Previously Reported			Impact of Revisions			As Revised
	(in millions)
Three Months Ended March 31, 2017
Statements of Income (Loss):
Revenues:
Policy charges and fee income	$	852		$	(22	)	$	830
Net derivative gains (losses)	(362		)	7			(355		)
Total revenues	2,314			(15		)	2,299
Benefits and other deductions:
Policyholders' benefits	975			(3		)	972
Interest credited to policyholders' account balances	279			(30		)	249
Amortization of deferred policy acquisition costs, net	29			63			92
Total benefits and other deductions	2,489			30			2,519
Income (loss) from operations, before income taxes	(175		)	(45		)	(220		)
Income tax (expense) benefit	121			16			137
Net income (loss)	(54		)	(29		)	(83		)
Net income (loss) attributable to AXA Equitable	$	(172	)	$	(29	)	$	(201	)

	As Previously Reported			Impact of Revisions			As Revised
	(in millions)
Three Months Ended March 31, 2017
Statements of Comprehensive Income (Loss):
Net income (loss)	$	(54	)	$	(29	)	$	(83	)
Change in unrealized gains (losses), net of reclassification adjustment	92			21			113
Total other comprehensive income (loss), net of income taxes	127			21			148
Comprehensive income (loss)	73			(8		)	65
Comprehensive income (loss) attributable to AXA Equitable	$	(52	)	$	(8	)	$	(60	)

	As Previously Reported			Impact of Revisions			As Revised
	(in millions)
Three Months Ended March 31, 2017
Statements of Equity:
Retained earnings, beginning of year	$	6,150		$	(55	)	$	6,095
Net income (loss) attributable to AXA Equitable	(172		)	(29		)	(201		)
Retained earnings, end of period	5,978			(84		)	5,894
Accumulated other comprehensive income, beginning of year	17			(21		)	(4		)
Other comprehensive income (loss)	120			21			141
Accumulated other comprehensive income, end of period	137			—			137
Total AXA Equitable’s equity, end of period	11,459			(84		)	11,375
Total Equity, End of Period	$	14,505		$	(84	)	$	14,421

	As Previously Reported			Impact of Revisions			As Revised
	(in millions)
Three Months Ended March 31, 2017
Statements of Cash flows:
Net income (loss)	$	(54	)	$	(29	)	$	(83	)
Policy charges and fee income	(852		)	22			(830		)
Interest credited to policyholders’ account balances	279			(30		)	249
Net derivative (gains) loss	362			(7		)	355
Changes in:
Deferred policy acquisition costs	29			63			92
Future policy benefits	241			(3		)	238
Current and deferred income taxes	(188		)	(16		)	(204		)
Net cash provided by (used in) operating activities	$	18		$	—		$	18

The following tables present line items for December 31, 2017 financial information that has been affected by the revisions. This information has been corrected from the information previously presented in the 2017 Form 10-K. For these items, the tables detail the amounts as previously reported and the impact upon those line items due to the revisions and the amounts as currently revised.

	As Previously Reported		Impact of Revisions			As Revised
	(in millions)
As of December 31, 2017
Assets:
DAC	$	4,547	$	(55	)	$	4,492
Total Assets	225,985		(55		)	225,930
Liabilities:
Policyholders' account balance
Future policyholders' benefits and other policyholders' liabilities	29,034		36			29,070
Current and deferred taxes	1,973		(19		)	1,954
Total Liabilities	205,795		17			205,812
Equity:
Retained Earnings	9,010		(72		)	8,938
AXA Equitable Equity	16,469		(72		)	16,397
Equity	19,564		(72		)	19,492
Total Liabilities and Equity	$	225,985	$	(55	)	$	225,930

	As Previously Reported		Impact of Revisions			As Revised
For the Year ended December 31, 2017	(in millions)
Consolidated Statement of Income (Loss):
Revenues:
Policy charges and fee income	$	3,334	$	(40	)	$	3,294
Premiums	904		—			904
Net derivative gains (losses)	890		(20		)	870
Total revenues	11,733		(60		)	11,673
Benefits and other deductions:
Policyholders’ benefits	3,462		11			3,473
Interest credited to Policyholder’s account balances	1,040		(119		)	921
Amortization of deferred policy acquisition costs	268		54			322
Total benefits and other deductions	9,478		(54		)	9,424
Income (loss) from operations, before income taxes	2,255		(6		)	2,249
Income tax (expense) benefit	1,139		(11		)	1,128
Net income (loss)	3,394		(17		)	3,377
Net income (loss) attributable to AXA Equitable	$	2,860	$	(17	)	$	2,843

	As Previously Reported		Impact of Revisions			As Revised
For the Year ended December 31, 2017	(in millions)
Statements of Comprehensive Income (Loss):
Net income (loss)	$	3,394	$	(17	)	$	3,377
Change in unrealized gains (losses), net of reclassification adjustment	563		21			584
Total other comprehensive income (loss), net of income taxes	599		21			620
Comprehensive income (loss)	3,993		4			3,997
Comprehensive income (loss) attributable to AXA Equitable	$	3,441	$	4		$	3,445

	As Previously Reported		Impact of Revisions			As Revised
	(in millions)
For the Year ended December 31, 2017
Statements of Equity:
Retained earnings, beginning of year	$	6,150	$	(55	)	$	6,095
Net income (loss) attributable to AXA Equitable	2,860		(17		)	2,843
Retained earnings, end of period	9,010		(72		)	8,938
Accumulated other comprehensive income, beginning of year	17		(21		)	(4		)
Other comprehensive income (loss)	581		21			602
Total AXA Equitable’s equity, end of period	16,469		(72		)	16,397
Total Equity, End of Period	$	19,564	$	(72	)	$	19,492

	As Previously Reported			Impact of Revisions			As Revised
For the Year ended December 31, 2017	(in millions)
Consolidated Statement of Cash Flows:
Cash flow from operating activities:
Net income (loss)	$	3,394		$	(17	)	$	3,377
Policy charges and fee income	(3,334		)	40			(3,294		)
Interest credited to policyholders’ account balances	1,040			(119		)	921
Net derivative (gains) loss	(890		)	20			(870		)
Deferred Policy Acquisition costs	268			54			322
Changes in:
Future policy benefits	1,511			11			1,522
Current and deferred income taxes	(664		)	11			(653		)
Net cash provided by (used in) operating activities	$	1,077		$	—		$	1,077

The following tables present line items for December 31, 2016 financial information that has been affected by the revisions. This information has been corrected from the information previously presented in the 2017 Form 10-K. For these items, the tables detail the amounts as previously reported and the impact upon those line items due to the revisions and the amounts as currently revised.

	As Previously Reported		Impact of Revisions			As Revised
	(in millions)
As of December 31, 2016
Assets:
DAC	$	5,058	$	(33	)	$	5,025
Total Assets	204,556		(33		)	204,523
Liabilities:
Policyholders' account balance
Future policyholders' benefits and other policyholders' liabilities	28,901		83			28,984
Current and deferred taxes	2,834		(40		)	2,794
Total Liabilities	189,549		43			189,592
Equity:
Retained Earnings	6,150		(55		)	6,095
Accumulated other comprehensive income (loss)	17		(21		)	(4		)
AXA Equitable Equity	11,508		(76		)	11,432
Equity	14,604		(76		)	14,528
Total Liabilities and Equity	$	204,556	$	(33	)	$	204,523

	As Previously Reported			Impact of Revisions			As Revised
For the Year ended December 31, 2016	(in millions)
Consolidated Statement of Income (Loss):
Revenues:
Policy charges and fee income	$	3,344		$	(33	)	$	3,311
Net derivative gains (losses)	(1,211		)	(126		)	(1,337		)
Total revenues	9,138			(159		)	8,979
Benefits and other deductions:
Interest credited to Policyholder’s account balances	1,029			(124		)	905
Amortization of deferred policy acquisition costs	52			(4		)	48
Other operating costs and expenses
Total benefits and other deductions	8,516			(128		)	8,388
Income (loss) from operations, before income taxes	622			(31		)	591
Income tax (expense) benefit	84			11			95
Net income (loss)	706			(20		)	686
Net income (loss) attributable to AXA Equitable	$	210		$	(20	)	$	190

	As Previously Reported			Impact of Revisions			As Revised
For the Year ended December 31, 2016	(in millions)
Statements of Comprehensive Income (Loss):
Net income (loss)	$	706		$	(20	)	$	686
Change in unrealized gains (losses), net of reclassification adjustment	(194		)	(21		)	(215		)
Total other comprehensive income (loss), net of income taxes	(215		)	(21		)	(236		)
Comprehensive income (loss)	491			(41		)	450
Comprehensive income (loss) attributable to AXA Equitable	$	12		$	(41	)	$	(29	)

	As Previously Reported			Impact of Revisions			As Revised
	(in millions)
For the Year ended December 31, 2016
Statements of Equity:
Retained earnings, beginning of year	$	6,990		$	(35	)	$	6,955
Net income (loss) attributable to AXA Equitable	210			(20		)	190
Retained earnings, end of period	6,150			(55		)	6,095
Other comprehensive income (loss)	(198		)	(21		)	(219		)
Accumulated other comprehensive income, end of period	17			(21		)	(4		)
Total AXA Equitable’s equity, end of period	11,508			(76		)	11,432
Total Equity, End of Period	$	14,604		$	(76	)	$	14,528

	As Previously Reported			Impact of Revisions			As Revised
For the Year ended December 31, 2016	(in millions)
Consolidated Statement of Cash Flows:
Cash flow from operating activities:
Net income (loss)	$	706		$	(20	)	$	686
Policy charges and fee income	(3,344		)	33			(3,311		)
Interest credited to policyholders’ account balances	1,029			(124		)	905
Net derivative (gains) loss	1,211			126			1,337
Deferred Policy Acquisition costs	52			(4		)	48
Changes in:
Current and deferred income taxes	(742		)	(11		)	(753		)
Net cash provided by (used in) operating activities	$	(461	)	$	—		$	(461	)

The following tables present line items for December 31, 2015 financial information that has been affected by the revisions. This information has been corrected from the information previously presented in the 2017 Form 10-K. For these items, the tables detail the amounts as previously reported and the impact upon those line items due to the revisions and the amounts as currently revised.

	As Previously Reported		Impact of Revisions			As Revised
	(in millions)
As of December 31, 2015
Assets:
DAC	$	5,084	$	(5	)	$	5,079
Total Assets	195,303		(5		)	195,298
Liabilities:
Future policyholders' benefits and other policyholders' liabilities	28,431		49			28,480
Current and deferred taxes	3,624		(19		)	3,605
Total Liabilities	179,705		30			179,735
Equity:
Retained Earnings	6,990		(35		)	6,955
AXA Equitable Equity	12,528		(35		)	12,493
Equity	15,587		(35		)	15,552
Total Liabilities and Equity	$	195,303	$	(5	)	$	195,298

	As Previously Reported			Impact of Revisions			As Revised
For the Year ended December 31, 2015	(in millions)
Consolidated Statement of Income (Loss):
Revenues:
Policy charges and fee income	$	3,291		$	(25	)	$	3,266
Net derivative gains (losses)	(1,161		)	(12		)	(1,173		)
Total revenues	8,961			(37		)	8,924
Benefits and other deductions:
Policyholders’ benefits	2,474			2			2,476
Interest credited to Policyholder’s account balances	887			(13		)	874
Amortization of deferred policy acquisition costs	(243		)	(5		)	(248		)
Total benefits and other deductions	7,923			(16		)	7,907
Income (loss) from operations, before income taxes	1,038			(21		)	1,017
Income tax (expense) benefit	22			7			29
Net income (loss)	1,060			(14		)	1,046
Net income (loss) attributable to AXA Equitable	$	662		$	(14	)	$	648

	As Previously Reported			Impact of Revisions			As Revised
For the Year ended December 31, 2015	(in millions)
Statements of Comprehensive Income (Loss):
Net income (loss)	$	1,060		$	(14	)	$	1,046
Comprehensive income (loss)	199			(14		)	185
Comprehensive income (loss) attributable to AXA Equitable	$	(184	)	$	(14	)	$	(198	)

	As Previously Reported		Impact of Revisions			As Revised
	(in millions)
For the Year ended December 31, 2015
Statements of Equity:
Retained earnings, beginning of year	$	7,240	$	(21	)	$	7,219
Net income (loss) attributable to AXA Equitable	662		(14		)	648
Retained earnings, end of period	6,990		(35		)	6,955
Total AXA Equitable’s equity, end of period	12,528		(35		)	12,493
Total Equity, End of Period	$	15,587	$	(35	)	$	15,552

	As Previously Reported			Impact of Revisions			As Revised
For the Year ended December 31, 2015	(in millions)
Consolidated Statement of Cash Flows:
Cash flow from operating activities:
Net income (loss)	$	1,060		$	(14	)	$	1,046
Policy charges and fee income	(3,291		)	25			(3,266		)
Net derivative (gains) loss	1,174			(1		)	1,173
Deferred Policy Acquisition costs	(243		)	(5		)	(248		)
Changes in:
Future policy benefits	631			2			633
Current and deferred income taxes	50			(7		)	43
Net cash provided by (used in) operating activities	$	(324	)	$	—		$	(324	)