In September 2011, the FASB issued new guidance on testing goodwill for impairment. The guidance is intended to reduce the cost and complexity of the annual goodwill impairment test by providing entities with the option of performing a “qualitative” assessment to determine whether further impairment testing is necessary. The guidance was effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011. Implementation of this guidance did not have a material impact on the Company's consolidated financial statements.

In May 2011, the FASB amended its guidance on fair value measurements and disclosure requirements to enhance comparability between U.S. GAAP and IFRS. The changes to the existing guidance include how and when the valuation premise of highest and best use applies, the application of premiums and discounts, as well as new required disclosures. This guidance was effective for reporting periods beginning after December 15, 2011. Implementation of this guidance expanded the Company's fair value disclosures and did not have a material impact on the Company's consolidated financial statements.

In October 2010, the FASB issued authoritative guidance to address diversity in practice regarding the interpretation of which costs relating to the acquisition of new or renewal insurance contracts qualify for deferral. Under the amended guidance, an entity may defer incremental direct costs of contract acquisition with independent third parties or employees that are essential to the contract transaction, as well as the portion of employee compensation, including payroll fringe benefits and other costs directly related to underwriting, policy issuance and processing, medical inspection, and contract selling for successfully negotiated contracts. This amended guidance was effective for fiscal years, and interim periods within those years, beginning after December 15, 2011 and permits, but does not require, retrospective application. The Company adopted this guidance effective January 1, 2012, and applied the retrospective method of adoption.

			As Previously Reported				Adjustment				As Adjusted
			December 31,				December 31,				December 31,
			2011		2010		2011		2010		2011		2010

			(In Millions)
Assets:
	Deferred policy acquisition costs		$	4,653	$	8,383	$	(1,108)	$	(1,880)	$	3,545	$	6,503
Liabilities:
	Income taxes payable			5,491		4,315		(387)		(658)		5,104		3,657
Equity:
	Retained earnings			10,120		8,085		(728)		(1,241)		9,392		6,844
	Accumulated other comprehensive
		income (loss)		(304)		(629)		7		19		(297)		(610)
	Total AXA Equitable's equity			15,561		13,051		(721)		(1,222)		14,840		11,829
	Total equity			18,264		16,169		(721)		(1,222)		17,543		14,947

The following table presents the effects of the retrospective application of the adoption of such new accounting guidance to the Company's previously reported consolidated statements of earnings (loss):

			As Previously
			Reported		Adjustment		As Adjusted

Three Months Ended June 30, 2011			(In Millions)
	Benefits and Other Deductions:
		Amortization of deferred policy acquisition costs	$	188	$	(74)	$	114
		Capitalization of deferred policy acquisition costs		(246)		69		(177)
	Earnings (loss) from continuing operations, before
		income taxes		1,196		5		1,201
	Income tax (expense) benefit			(401)		(1)		(402)
	Net earnings (loss)			795		4		799
	Net Earnings (Loss) Attributable to AXA Equitable			737		4		741

Six Months Ended June 30, 2011
	Benefits and Other Deductions:
		Amortization of deferred policy acquisition costs	$	565	$	(186)	$	379
		Capitalization of deferred policy acquisition costs		(470)		135		(335)
	Earnings (loss) from continuing operations, before
		income taxes		309		51		360
	Income tax (expense) benefit			(45)		(17)		(62)
	Net earnings (loss)			264		34		298
	Net Earnings (Loss) Attributable to AXA Equitable			135		34		169

The following table presents the effects of the retrospective application of the adoption of such new accounting guidance to the Company's previously reported consolidated statements of cash flows:

			As Previously
			Reported		Adjustment		As Adjusted

			(In Millions)
Six Months Ended June 30, 2011
	Cash flows from operating activities:
		Net earnings (loss)	$	264	$	34	$	298
		Change in deferred policy acquisition costs		95		(51)		44
		Change in income taxes payable		9		17		26