$EQH-PA
Equitable Holdings, Inc.
CIK:0001333986|SEC Filings
Consolidated Statements of Cash Flows - USD ($) $ in Millions |
6 Months Ended | |
|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
|
| Cash flows from operating activities: | ||
| Net income (loss) | $ 378 | $ (133) |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
| Interest credited to policyholders’ account balances | 1,604 | 1,474 |
| Policy charges and fee income | (855) | (1,262) |
| Net derivative (gains) losses | 1,475 | 575 |
| Credit and intent to sell losses on available-for-sale debt securities and loans | 37 | 54 |
| Investment (gains) losses, net | 57 | 31 |
| Realized and unrealized (gains) losses on trading securities | (15) | (39) |
| Loss on novation | 13 | 499 |
| AB Retirement plan losses | 0 | 21 |
| Non-cash long term incentive compensation expense | 60 | 48 |
| Amortization and depreciation | 463 | 433 |
| Remeasurement of liability for future policy benefits | (6) | (15) |
| Change in market risk benefits | (676) | 66 |
| Equity (income) loss from limited partnerships | (40) | (87) |
| Changes in: | ||
| Net broker-dealer and customer related receivables/payables | (90) | (26) |
| Reinsurance recoverable and related balances, net | (966) | (562) |
| Segregated cash and securities, net | 271 | 17 |
| Capitalization of deferred policy acquisition costs | (596) | (574) |
| Future policy benefits | (215) | 201 |
| Current and deferred income taxes | (372) | (129) |
| Other, net | 615 | (93) |
| Net cash provided by (used in) operating activities | 1,142 | 499 |
| Proceeds from the sale/maturity/pre-payment of: | ||
| Fixed maturities, available-for-sale | 6,955 | 9,368 |
| Fixed maturities, at fair value using the fair value option | 331 | 299 |
| Mortgage loans on real estate | 1,323 | 664 |
| Trading account securities | 297 | 269 |
| Short term investments | 11 | 132 |
| Other | 300 | 283 |
| Payment for the purchase/origination of: | ||
| Fixed maturities, available-for-sale | (10,862) | (11,576) |
| Fixed maturities, at fair value using the fair value option | (363) | (709) |
| Mortgage loans on real estate | (3,451) | (2,103) |
| Mortgage loans, at fair value using the fair value option | (25) | 0 |
| Trading account securities | (451) | (395) |
| Short term investments | (20) | (99) |
| Other | (378) | (83) |
| Cash settlements related to derivative instruments, net | 1,324 | 571 |
| Investment in capitalized software, leasehold improvements and EDP equipment | (19) | (17) |
| Other, net | (89) | (321) |
| Net cash provided by (used in) investing activities | (5,117) | (3,717) |
| Policyholders’ account balances: | ||
| Deposits | 12,842 | 14,931 |
| Withdrawals | (6,896) | (4,637) |
| Transfers (to) from Separate Accounts | 968 | 932 |
| Payments of market risk benefits | (329) | (366) |
| Repayment of short-term financings | (25) | 0 |
| Change in collateralized pledged assets | (177) | 17 |
| Change in collateralized pledged liabilities | 2,907 | 1,298 |
| Issuance of long-term debt | 0 | 495 |
| Proceeds from collateralized loan obligations | 33 | 46 |
| Repayment of collateralized loan obligations | (7) | (38) |
| Proceeds from notes issued by consolidated VIEs | 802 | 1,203 |
| Repayment of notes issued by consolidated VIEs | (367) | (839) |
| Dividends paid on common stock | (159) | (156) |
| Dividends paid on preferred stock | (27) | (32) |
| Redemption of preferred stock | 0 | 279 |
| Purchase of AllianceBernstein Units | 0 | (758) |
| Purchase of AB Holding Units to fund long-term incentive compensation plan awards, net | (28) | (44) |
| Purchase of treasury shares | (513) | (497) |
| Purchases (redemptions) of noncontrolling interests of consolidated company-sponsored investment funds | 35 | 173 |
| Distribution to noncontrolling interest of consolidated subsidiaries | (185) | (229) |
| Change in securities lending | (208) | (33) |
| Other, net | 35 | (17) |
| Net cash provided by (used in) financing activities | 8,701 | 11,170 |
| Effect of exchange rate changes on cash and cash equivalents | (5) | 41 |
| Change in cash and cash equivalents | 4,721 | 7,993 |
| Cash and cash equivalents, beginning of period | 12,462 | 6,964 |
| Change in cash of businesses held-for-sale | 0 | 0 |
| Cash and cash equivalents, end of period | 17,183 | 14,957 |
| Non-cash transactions from investing and financing activities: | ||
| Right-of-use assets obtained in exchange for lease obligations | $ 24 | $ 24 |
Consolidated Balance Sheets - USD ($) $ in Millions |
Jun. 30, 2026 |
Dec. 31, 2025 |
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|---|---|---|---|---|---|---|---|---|
| Investments: | ||||||||
| Fixed maturities available-for-sale, at fair value (amortized cost of $86,013 and $82,106) (allowance for credit losses of $7 and $0) | $ 80,191 | $ 77,162 | ||||||
| Fixed maturities, at fair value using the fair value option | [1] | 2,948 | 2,943 | |||||
| Mortgage loans on real estate (net of allowance for credit losses of $322 and $313) | [1] | 24,795 | 22,668 | |||||
| Mortgage loans, at fair value using the fair value option | 71 | 50 | ||||||
| Policy loans | 1,846 | 1,862 | ||||||
| Other Equity Investments | [1] | 3,635 | 3,779 | |||||
| Trading securities, at fair value | 1,749 | 1,572 | ||||||
| Other Invested assets | [1] | 10,616 | 10,968 | |||||
| Total investments | 125,851 | 121,004 | ||||||
| Cash and cash equivalents | [1] | 17,183 | 12,462 | |||||
| Cash and securities segregated, at fair value | 229 | 499 | ||||||
| Broker-dealer related receivables | 2,291 | 2,162 | ||||||
| Deferred policy acquisition costs | 7,638 | 7,523 | ||||||
| Goodwill and other intangible assets, net | 5,335 | 5,309 | ||||||
| Amounts due from reinsurers (allowance for credit losses of $7 and $7) | 20,744 | 20,127 | ||||||
| Current and deferred income taxes | 2,986 | 2,577 | ||||||
| Purchased market risk benefits | 4,710 | 5,260 | ||||||
| Other assets | [1] | 3,744 | 3,771 | |||||
| Assets for market risk benefits | 940 | 752 | ||||||
| Separate Accounts assets | 143,006 | 136,544 | ||||||
| Total Assets | 334,657 | 317,990 | ||||||
| LIABILITIES | ||||||||
| Policyholders’ account balances | 146,445 | 133,433 | ||||||
| Liability for market risk benefits | 8,816 | 10,153 | ||||||
| Future policy benefits and other policyholders’ liabilities | 17,372 | 17,660 | ||||||
| Broker-dealer related payables | 798 | 1,370 | ||||||
| Customer related payables | 2,051 | 1,937 | ||||||
| Amounts due to reinsurers | 1,155 | 1,542 | ||||||
| Short-term debt | 0 | 25 | ||||||
| Long-term debt | 3,839 | 3,835 | ||||||
| Notes issued by consolidated variable interest entities, at fair value using the fair value option | [1] | 3,128 | 2,702 | |||||
| Other liabilities | [1] | 6,824 | 7,001 | |||||
| Separate Accounts liabilities | 143,006 | 136,544 | ||||||
| Total Liabilities | 333,434 | 316,202 | ||||||
| Redeemable noncontrolling interest | [1],[2] | 365 | 322 | |||||
| Commitments and contingent liabilities | [3] | |||||||
| Equity attributable to Holdings: | ||||||||
| Preferred stock and additional paid-in capital, $1 par value and $25,000 liquidation preference | 1,068 | 1,068 | ||||||
| Common stock, $0.01 par value, 2,000,000,000 shares authorized; 466,227,784 and 468,341,734 shares issued, respectively; 273,083,312 and 283,358,187 shares outstanding, respectively | 5 | 5 | ||||||
| Additional paid-in capital | 1,939 | 1,932 | ||||||
| Treasury stock, at cost, 193,144,472 and 184,983,547 shares, respectively | (5,559) | (5,165) | ||||||
| Retained earnings | 8,227 | 8,366 | ||||||
| Accumulated other comprehensive income (loss) | (6,465) | (6,280) | ||||||
| Total equity attributable to Holdings | (785) | (74) | ||||||
| Noncontrolling interest | 1,643 | 1,540 | ||||||
| Total Equity | 858 | 1,466 | ||||||
| Total Liabilities, Redeemable Noncontrolling Interest and Equity | $ 334,657 | $ 317,990 | ||||||
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