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CONSOLIDATED STATEMENTS OF EARNINGS (LOSS) (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
REVENUES        
Universal life and investment-type product policy fee income $ 978 $ 937 $ 2,794 $ 2,747
Premiums 141 111 388 372
Net investment income (loss):        
Investment income (loss) from derivative instruments (248) 915 1,098 337
Other investment income (loss) 595 514 1,893 1,577
Total net investment income (loss) 347 1,429 2,991 1,914
Investment gains (losses), net:        
Total other-than-temporary impairment losses (10) (14) (35) (32)
Portion of loss recognized in other comprehensive income (loss) 0 0 0 0
Net impairment losses recognized (10) (14) (35) (32)
Other investment gains (losses), net 6 10 70 14
Total investment gains (losses), net (4) (4) 35 (18)
Commissions, fees and other income 952 978 2,796 2,983
Increase (decrease) in the fair value of the reinsurance contract asset (198) 2,263 2,543 1,503
Total revenues 2,216 5,714 11,547 9,501
BENEFITS AND OTHER DEDUCTIONS        
Policyholders’ benefits 611 1,251 3,037 2,793
Interest credited to policyholders’ account balances 511 (5) 1,137 583
Compensation and benefits 430 422 1,284 1,355
Commissions 271 275 812 841
Distribution related payments 96 97 276 300
Amortization of deferred sales commissions 10 12 32 37
Interest expense 4 6 11 16
Amortization of deferred policy acquisition costs 156 90 359 248
Capitalization of deferred policy acquisition costs (152) (155) (439) (456)
Rent expense 39 42 116 122
Amortization of other intangible assets 7 7 21 21
Other operating costs and expenses 263 333 901 925
Total benefits and other deductions 2,246 2,375 7,547 6,785
Earnings (loss) from continuing operations, before income taxes (30) 3,339 4,000 2,716
Income tax (expense) benefit 52 (1,064) (1,197) (612)
Net earnings (loss) 22 2,275 2,803 2,104
Less: net (earnings) loss attributable to the noncontrolling interest (98) (90) (307) (291)
Net Earnings (Loss) Attributable to AXA Equitable $ (76) $ 2,185 $ 2,496 $ 1,813