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CONSOLIDATED STATEMENTS OF EARNINGS (LOSS) (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
REVENUES        
Universal life and investment-type product policy fee income $ 915 $ 924 $ 1,816 $ 1,810
Premiums 121 121 247 261
Net investment income (loss):        
Investment income (loss) from derivative instruments 598 (915) 1,346 (578)
Other investment income (loss) 602 532 1,298 1,063
Total net investment income (loss) 1,200 (383) 2,644 485
Investment gains (losses), net:        
Total other-than-temporary impairment losses (8) (16) (25) (18)
Portion of loss recognized in other comprehensive income (loss) 0 0 0 0
Net impairment losses recognized (8) (16) (25) (18)
Other investment gains (losses), net 34 5 64 4
Total investment gains (losses), net 26 (11) 39 (14)
Commissions, fees and other income 931 1,019 1,844 2,005
Increase (decrease) in the fair value of the reinsurance contract asset 1,104 (1,450) 2,741 (760)
Total revenues 4,297 220 9,331 3,787
BENEFITS AND OTHER DEDUCTIONS        
Policyholders’ benefits 1,276 619 2,426 1,542
Interest credited to policyholders’ account balances 349 268 626 588
Compensation and benefits 428 486 854 933
Commissions 273 292 541 566
Distribution related payments 93 102 180 203
Amortization of deferred sales commissions 11 13 22 25
Interest expense 3 5 7 10
Amortization of deferred policy acquisition costs 72 18 203 158
Capitalization of deferred policy acquisition costs (146) (157) (287) (301)
Rent expense 38 41 77 80
Amortization of other intangible assets 7 7 14 14
Other operating costs and expenses 317 279 638 592
Total benefits and other deductions 2,721 1,973 5,301 4,410
Earnings (loss) from continuing operations, before income taxes 1,576 (1,753) 4,030 (623)
Income tax (expense) benefit (515) 728 (1,249) 452
Net earnings (loss) 1,061 (1,025) 2,781 (171)
Less: net (earnings) loss attributable to the noncontrolling interest (92) (106) (209) (201)
Net Earnings (Loss) Attributable to AXA Equitable $ 969 $ (1,131) $ 2,572 $ (372)