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CONSOLIDATED STATEMENTS OF INCOME (LOSS) (UNAUDITED) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
REVENUES        
Policy charges and fee income $ 900,000,000 $ 852,000,000 $ 2,644,000,000 $ 2,516,000,000
Premiums 217,000,000 208,000,000 657,000,000 665,000,000
Net derivative gains (losses) (2,006,000,000) (368,000,000) (3,106,000,000) 1,048,000,000
Net investment income (loss) 652,000,000 677,000,000 1,748,000,000 1,993,000,000
Investment gains (losses), net:        
Total other-than-temporary impairment losses (4,000,000) 0 (4,000,000) (13,000,000)
Other investment gains (losses), net (5,000,000) (8,000,000) 77,000,000 4,000,000
Total investment gains (losses), net (9,000,000) (8,000,000) 73,000,000 (9,000,000)
Investment management and service fees 1,093,000,000 1,019,000,000 3,227,000,000 2,974,000,000
Other income 13,000,000 32,000,000 47,000,000 68,000,000
Total revenues 860,000,000 2,412,000,000 5,290,000,000 9,255,000,000
BENEFITS AND OTHER DEDUCTIONS        
Policyholders’ benefits 206,000,000 856,000,000 1,987,000,000 3,184,000,000
Interest credited to policyholders’ account balances 259,000,000 233,000,000 754,000,000 681,000,000
Compensation and benefits (includes $34, $33, $101 and $101 of deferred policy acquisition costs, respectively) 467,000,000 436,000,000 1,459,000,000 1,324,000,000
Commissions and distribution related payments (includes $119, $101, $331 and $332 of deferred policy acquisition costs, respectively) 371,000,000 362,000,000 1,119,000,000 1,133,000,000
Interest expense 12,000,000 9,000,000 34,000,000 20,000,000
Amortization of deferred policy acquisition costs (net of capitalization of $153, $134, $432 and $433 of deferred policy acquisition costs, respectively) (239,000,000) 0 (129,000,000) 42,000,000
Other operating costs and expenses (includes $1, $2, $2 and $5 of deferred policy acquisition costs, respectively) 341,000,000 462,000,000 3,267,000,000 992,000,000
Total benefits and other deductions 1,417,000,000 2,358,000,000 8,491,000,000 7,376,000,000
Income (loss) from continuing operations, before income taxes (557,000,000) 54,000,000 (3,201,000,000) 1,879,000,000
Income tax (expense) benefit 175,000,000 89,000,000 782,000,000 (198,000,000)
Net income (loss) (382,000,000) 143,000,000 (2,419,000,000) 1,681,000,000
Less: net (income) loss attributable to the noncontrolling interest (129,000,000) (122,000,000) (439,000,000) (353,000,000)
Net income (loss) attributable to AXA Equitable $ (511,000,000) $ 21,000,000 $ (2,858,000,000) $ 1,328,000,000