← Equitable Holdings, Inc.
| Annual Trend | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income (loss) | $1.3b | $2.2b | ($1.4b) | ($349.0m) | ($24.0m) | $2.0b | $1.6b | $1.8b | ($1.0b) | |
| Net Income From Continuing Operations | — | — | — | — | — | $2.4b | $1.6b | $1.8b | ($1.0b) | |
| Amortization and depreciation | $399.0m | $257.0m | $657.0m | $1.8b | $497.0m | $814.0m | $812.0m | $860.0m | $872.0m | |
| Depreciation And Amortization | — | — | — | — | — | $636.0m | $821.0m | $868.0m | $872.0m | |
| Current and deferred income taxes | ($10.0m) | $633.0m | ($108.0m) | ($571.0m) | ($451.0m) | $372.0m | ($1.2b) | $322.0m | ($968.0m) | |
| Earnings (Loss)es From Equity Investments | — | — | — | — | — | ($146.0m) | ($125.0m) | ($174.0m) | ($221.0m) | |
| Interest credited to policyholders’ account balances | $995.0m | $1.1b | $1.2b | $1.2b | $1.2b | $1.4b | $2.1b | $2.5b | $3.0b | |
| Policy charges and fee income | ($3.7b) | ($3.8b) | ($3.7b) | ($3.7b) | ($3.6b) | ($3.2b) | ($2.4b) | ($2.5b) | ($2.2b) | |
| Net derivative (gains) losses | ($214.0m) | $231.0m | $4.0b | $1.7b | $4.5b | ($1.7b) | $2.4b | $2.6b | $2.1b | |
| Credit and intent to sell losses on available-for-sale debt securities and loans | — | — | — | $58.0m | ($2.0m) | $314.0m | $220.0m | $82.0m | $68.0m | |
| Investment (gains) losses, net | $191.0m | $86.0m | ($206.0m) | ($872.0m) | ($863.0m) | $631.0m | $493.0m | $51.0m | $1.3b | |
| (Gains) losses on businesses held-for-sale | $0 | $0 | $133.0m | $69.0m | ($3.0m) | $7.0m | ($1.0m) | ($135.0m) | $0 | |
| Realized and unrealized (gains) losses on trading securities | ($266.0m) | $237.0m | ($502.0m) | ($170.0m) | $26.0m | $198.0m | ($77.0m) | ($88.0m) | ($95.0m) | |
| Loss on novation | — | — | — | — | — | — | $0 | $0 | $499.0m | |
| AB Retirement plan losses | — | — | — | — | — | — | $0 | $14.0m | $18.0m | |
| Non-cash long term incentive compensation expense | $247.0m | $228.0m | $278.0m | $210.0m | $226.0m | $286.0m | $234.0m | $285.0m | $277.0m | |
| Remeasurement of liability for future policy benefits | — | — | — | — | $13.0m | $66.0m | $75.0m | $6.0m | $38.0m | |
| Change in market risk benefits | — | — | — | — | ($5.9b) | ($1.3b) | ($1.8b) | ($2.0b) | ($417.0m) | |
| Equity (income) loss from limited partnerships | ($155.0m) | ($119.0m) | ($92.0m) | ($83.0m) | ($553.0m) | ($146.0m) | ($125.0m) | ($174.0m) | ($221.0m) | |
| Net broker-dealer and customer related receivables/payables | ($278.0m) | $838.0m | ($403.0m) | $667.0m | ($131.0m) | $189.0m | ($910.0m) | ($446.0m) | ($135.0m) | |
| Reinsurance recoverable and related balances, net | $124.0m | ($191.0m) | ($146.0m) | ($401.0m) | ($1.1b) | ($1.1b) | ($1.5b) | ($866.0m) | ($1.2b) | |
| Segregated cash and securities, net | $130.0m | ($345.0m) | $75.0m | ($659.0m) | $250.0m | ($18.0m) | $655.0m | $368.0m | $1.0m | |
| Capitalization of deferred policy acquisition costs | ($687.0m) | ($702.0m) | ($754.0m) | ($670.0m) | ($875.0m) | ($842.0m) | ($976.0m) | ($1.2b) | ($1.2b) | |
| Future policy benefits | $1.1b | ($399.0m) | $947.0m | $2.0b | ($299.0m) | $44.0m | $329.0m | $394.0m | $91.0m | |
| Other, net | ($59.0m) | ($132.0m) | $20.0m | $48.0m | ($47.0m) | $31.0m | ($10.0m) | ($7.0m) | $5.0m | |
| Fixed maturities, available-for-sale | $11.3b | $10.6b | $13.3b | ($28.2b) | ($43.3b) | ($18.5b) | ($12.0b) | ($21.1b) | ($26.0b) | |
| Fixed maturities, at fair value using the fair value option | — | $0 | $0 | ($311.0m) | ($1.8b) | ($488.0m) | ($592.0m) | ($1.3b) | ($1.7b) | |
| Mortgage loans on real estate | ($2.1b) | ($1.6b) | ($1.2b) | ($1.7b) | ($2.5b) | ($3.7b) | ($2.2b) | ($3.2b) | ($4.8b) | |
| Trading account securities | ($13.3b) | ($11.4b) | ($1.1b) | ($708.0m) | ($244.0m) | ($521.0m) | ($1.3b) | ($2.2b) | ($954.0m) | |
| Short term investments | ($4.9b) | ($5.1b) | ($2.8b) | ($1.1b) | ($18.0m) | ($1.5b) | ($2.8b) | ($423.0m) | ($199.0m) | |
| Other | ($296.0m) | ($233.0m) | ($430.0m) | ($1.2b) | ($2.6b) | ($1.2b) | ($878.0m) | ($278.0m) | ($435.0m) | |
| Mortgage loans, at fair value using the fair value option | — | — | — | — | — | — | $0 | $0 | ($50.0m) | |
| Cash settlements related to derivative instruments, net | ($2.2b) | $583.0m | ($954.0m) | $1.2b | ($5.9b) | ($316.0m) | ($1.3b) | ($3.1b) | $606.0m | |
| Investment in capitalized software, leasehold improvements and EDP equipment | ($102.0m) | ($123.0m) | ($93.0m) | ($107.0m) | ($120.0m) | ($167.0m) | ($117.0m) | ($153.0m) | ($34.0m) | |
| Deposits | $9.9b | $10.0b | $12.8b | $11.4b | $17.5b | $16.4b | $16.9b | $19.1b | $26.7b | |
| Withdrawals | ($4.0b) | ($4.6b) | ($4.6b) | ($4.3b) | ($7.1b) | ($7.0b) | ($9.8b) | ($10.5b) | ($12.1b) | |
| Transfers (to) from Separate Accounts | $1.5b | $1.7b | $1.8b | $2.5b | $2.0b | $1.4b | $1.4b | $1.7b | $1.9b | |
| Payments of market risk benefits | — | — | — | — | ($563.0m) | ($601.0m) | ($744.0m) | ($683.0m) | ($670.0m) | |
| Proceeds from short-term financings | — | — | — | — | — | — | $0 | $0 | $0 | |
| Repayment of short-term financings | $600.0m | ($1.3b) | ($546.0m) | $0 | $92.0m | $147.0m | ($504.0m) | ($254.0m) | $25.0m | |
| Change in collateralized pledged assets | $1.0b | $31.0m | ($71.0m) | ($139.0m) | $34.0m | $36.0m | ($49.0m) | ($85.0m) | ($277.0m) | |
| Change in collateralized pledged liabilities | $1.2b | ($576.0m) | $1.4b | $848.0m | $1.4b | ($1.6b) | $2.4b | $4.8b | $2.6b | |
| Proceeds from collateralized loan obligations | — | — | — | — | $0 | $0 | $40.0m | $52.0m | $46.0m | |
| Repayment of collateralized loan obligations | — | — | — | — | — | $0 | $0 | ($61.0m) | ($52.0m) | |
| Proceeds from notes issued by consolidated VIEs | — | $0 | $0 | $313.0m | $873.0m | $6.0m | $362.0m | $552.0m | $1.8b | |
| Repayment of notes issued by consolidated VIEs | — | — | — | — | — | $0 | $0 | ($16.0m) | ($1.2b) | |
| Redemption of preferred stock | — | — | — | — | — | $0 | $0 | ($55.0m) | ($449.0m) | |
| Purchase of AllianceBernstein Units | $0 | ($1.3b) | $0 | $0 | — | $0 | $0 | ($35.0m) | ($761.0m) | |
| Purchase of AB Holding Units to fund long-term incentive compensation plan awards, net | — | ($267.0m) | ($172.0m) | ($149.0m) | ($262.0m) | ($211.0m) | ($144.0m) | ($157.0m) | ($162.0m) | |
| Purchase of treasury shares | $0 | ($648.0m) | ($1.4b) | ($430.0m) | ($1.6b) | ($849.0m) | ($919.0m) | ($1.0b) | ($1.4b) | |
| Change in securities lending | — | — | — | — | $0 | $0 | $116.0m | $21.0m | $272.0m | |
| Change in cash of businesses held-for-sale | — | $0 | ($65.0m) | ($39.0m) | ($39.0m) | ($159.0m) | ($6.0m) | $153.0m | $0 | |
| Federal | — | — | — | — | — | — | $121.0m | ($159.0m) | $430.0m | |
| State | — | — | — | — | — | — | $100.0m | $68.0m | $96.0m | |
| Foreign | — | — | — | — | — | — | $44.0m | $53.0m | $50.0m | |
| Transfer of securities to reinsurer | — | — | — | — | — | — | $0 | $0 | ($8.8b) | |
| Transfer of policy loans to reinsurer | — | — | — | — | — | — | $0 | $0 | ($2.5b) | |
| Securities received in exchange for the 2029 Notes | — | — | — | — | — | — | $0 | $547.0m | $0 | |
| Deconsolidated trading securities | — | — | — | — | — | — | $0 | ($1.2b) | $0 | |
| Beginning Cash Position | — | — | — | — | — | $5.2b | $4.3b | $8.2b | $7.0b | |
| Cash Flow From Continuing Financing Activities | — | — | — | — | — | $7.0b | $9.0b | $12.4b | $15.7b | |
| Cash Flow From Continuing Investing Activities | — | — | — | — | — | ($7.5b) | ($4.9b) | ($15.9b) | ($11.0b) | |
| Change In Other Working Capital | — | — | — | — | — | $585.0m | ($2.3b) | ($19.0m) | ($1.2b) | |
| Change In Receivables | — | — | — | — | — | ($636.0m) | ($1.5b) | ($868.0m) | ($1.2b) | |
| Change In Working Capital | — | — | — | — | — | ($1.4b) | ($3.7b) | ($1.3b) | ($3.5b) | |
| Changes In Account Receivables | — | — | — | — | — | ($636.0m) | ($1.5b) | ($868.0m) | ($1.2b) | |
| Changes In Cash | — | — | — | — | — | ($692.0m) | $3.9b | ($1.4b) | $5.5b | |
| End Cash Position | — | — | — | — | — | $4.3b | $8.2b | $7.0b | $12.5b | |
| Financing Cash Flow | — | — | — | — | — | $7.0b | $9.0b | $12.4b | $15.7b | |
| Free Cash Flow | — | — | — | — | — | ($417.0m) | ($325.0m) | $1.9b | $680.0m | |
| Gain Loss On Investment Securities | — | — | — | — | — | $829.0m | $416.0m | ($31.0m) | $1.2b | |
| Gain Loss On Sale Of Business | — | — | — | — | — | $7.0m | ($1.0m) | ($135.0m) | $0 | |
| Investing Cash Flow | — | — | — | — | — | ($7.5b) | ($4.9b) | ($15.9b) | ($11.0b) | |
| Issuance Of Capital Stock | — | — | — | — | $293.0m | $0 | $0 | — | — | |
| Net Business Purchase And Sale | — | — | — | — | $215.0m | $40.0m | $0 | $0 | — | |
| Net Preferred Stock Issuance | — | — | — | — | — | $0 | $0 | ($55.0m) | ($449.0m) | |
| Operating Gains Losses | — | — | — | — | — | $690.0m | $290.0m | ($340.0m) | $955.0m | |
| Other Cash Adjustment Outside Changein Cash | — | — | — | — | — | ($159.0m) | ($6.0m) | $153.0m | $0 | |
| Other Non Cash Items | — | — | — | — | — | ($3.4b) | ($3.9b) | ($4.3b) | ($2.0b) | |
| Preferred Stock Issuance | — | — | — | — | $293.0m | $0 | $0 | — | — | |
| Preferred Stock Payments | — | — | — | — | — | $0 | $0 | ($55.0m) | ($449.0m) | |
| Repurchase Of Capital Stock | — | — | — | — | — | ($849.0m) | ($919.0m) | ($1.1b) | ($1.9b) | |
| Sale Of Business | — | — | — | — | $215.0m | $40.0m | $0 | $0 | — | |
| Stock Based Compensation | — | — | — | — | — | $286.0m | $234.0m | $285.0m | $277.0m | |
| Net cash provided by (used in) operating activities | ($243.0m) | $61.0m | ($216.0m) | ($61.0m) | ($756.0m) | ($851.0m) | ($208.0m) | $2.0b | $714.0m | |
| Capital Expenditure | — | — | — | — | — | ($167.0m) | ($117.0m) | ($153.0m) | ($34.0m) | |
| Capital Expenditure Reported | — | — | — | — | — | ($167.0m) | ($117.0m) | ($153.0m) | ($34.0m) | |
| Purchases (redemptions) of noncontrolling interests of consolidated company-sponsored investment funds | $120.0m | ($472.0m) | $169.0m | ($210.0m) | $346.0m | $52.0m | $274.0m | $340.0m | $214.0m | |
| Net Investment Purchase And Sale | — | — | — | — | — | ($4.3b) | ($2.8b) | ($14.4b) | ($8.0b) | |
| Purchase Of Investment | — | — | — | — | — | ($21.3b) | ($18.0b) | ($28.1b) | ($28.8b) | |
| Sale Of Investment | — | — | — | — | — | $17.0b | $15.3b | $13.7b | $20.8b | |
| Net Other Investing Changes | — | — | — | — | — | ($520.0m) | ($165.0m) | $642.0m | ($240.0m) | |
| Net cash provided by (used in) investing activities | ($9.7b) | ($2.0b) | ($8.5b) | ($7.8b) | ($12.7b) | ($7.5b) | ($4.9b) | ($15.9b) | ($11.0b) | |
| Issuance of long-term debt | $202.0m | ($202.0m) | $0 | $0 | $0 | $0 | $497.0m | $0 | $495.0m | |
| Debt issued in exchange for the 2029 Notes | — | — | — | — | — | — | $0 | $600.0m | $0 | |
| Issuance Of Debt | — | — | — | — | — | $6.0m | $899.0m | $604.0m | $2.3b | |
| Long Term Debt Issuance | — | — | — | — | — | $6.0m | $899.0m | $604.0m | $2.3b | |
| Net Issuance Payments Of Debt | — | — | — | — | — | ($62.0m) | $899.0m | ($38.0m) | $587.0m | |
| Net Long Term Debt Issuance | — | — | — | — | — | ($37.0m) | $899.0m | ($38.0m) | $587.0m | |
| Net Short Term Debt Issuance | — | — | — | — | $16.0m | ($25.0m) | $0 | $0 | — | |
| Repayment of long term debt | — | — | — | $0 | ($280.0m) | $0 | $0 | ($565.0m) | ($500.0m) | |
| Long Term Debt Payments | — | — | — | — | — | ($43.0m) | $0 | ($642.0m) | ($1.8b) | |
| Repayment Of Debt | — | — | — | — | — | ($43.0m) | $0 | ($642.0m) | ($1.8b) | |
| Net Common Stock Issuance | — | — | — | — | — | ($849.0m) | ($919.0m) | ($1.0b) | ($1.4b) | |
| Common Stock Payments | — | — | — | — | — | ($849.0m) | ($919.0m) | ($1.0b) | ($1.4b) | |
| Distribution to noncontrolling interest of consolidated subsidiaries | ($348.0m) | ($346.0m) | ($256.0m) | ($304.0m) | ($392.0m) | ($401.0m) | ($334.0m) | ($384.0m) | ($393.0m) | |
| Deconsolidated redeemable noncontrolling interests | — | — | — | — | — | — | $0 | ($1.0b) | $0 | |
| Dividends paid on common stock | — | ($157.0m) | ($285.0m) | ($297.0m) | ($296.0m) | ($294.0m) | ($301.0m) | ($302.0m) | ($314.0m) | |
| Dividends paid on preferred stock | — | $0 | $0 | ($53.0m) | ($79.0m) | ($80.0m) | ($80.0m) | ($80.0m) | ($61.0m) | |
| Cash Dividends Paid | — | — | — | — | — | ($374.0m) | ($381.0m) | ($382.0m) | ($375.0m) | |
| Common Stock Dividend Paid | — | — | — | — | — | ($294.0m) | ($301.0m) | ($302.0m) | ($314.0m) | |
| Preferred Stock Dividend Paid | — | — | — | — | — | ($80.0m) | ($80.0m) | ($80.0m) | ($61.0m) | |
| Net Other Financing Charges | — | — | — | — | — | $8.3b | $9.3b | $13.9b | $17.1b | |
| Net cash provided by (used in) financing activities | $9.1b | $1.7b | $8.7b | $9.7b | $12.5b | $7.6b | $9.0b | $12.4b | $15.7b | |
| Effect of exchange rate changes on cash and cash equivalents | $22.0m | ($12.0m) | $8.0m | $23.0m | ($18.0m) | ($56.0m) | $23.0m | ($20.0m) | $36.0m | |
| Effect Of Exchange Rate Changes | — | — | — | — | — | ($56.0m) | $23.0m | ($20.0m) | $36.0m | |
| Change in cash and cash equivalents | ($840.0m) | ($345.0m) | $1.0m | $1.8b | ($952.0m) | ($748.0m) | $4.0b | ($1.4b) | $5.5b | |
| Cash and cash equivalents, beginning of period | $4.8b | $4.5b | $4.4b | $6.2b | $5.2b | $4.3b | $8.2b | $7.0b | $12.5b | |
| Change In Cash Supplemental As Reported | — | — | — | — | — | ($748.0m) | $4.0b | ($1.4b) | $5.5b | |
| Interest paid | $119.0m | $178.0m | $273.0m | $215.0m | $215.0m | $263.0m | $344.0m | $318.0m | $293.0m | |
| Income taxes (refunded) paid | $31.0m | $57.0m | ($506.0m) | ($173.0m) | $305.0m | $89.0m | $266.0m | ($38.0m) | $576.0m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.