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CONSOLIDATED STATEMENTS OF INCOME (LOSS) (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
REVENUES        
Policy charges and fee income $ 904 $ 846 $ 1,773 $ 1,698
Premiums 217 225 440 457
Net derivative gains (losses) (312) 1,763 (1,172) 1,362
Net investment income (loss) 548 686 1,096 1,316
Investment gains (losses), net:        
Total other-than-temporary impairment losses 0 (13) 0 (13)
Other investment gains (losses), net (5) 23 82 12
Total investment gains (losses), net (5) 10 82 (1)
Investment management and service fees 1,077 999 2,134 1,955
Other income 10 19 34 36
Total revenues 2,439 4,548 4,387 6,823
BENEFITS AND OTHER DEDUCTIONS        
Policyholders’ benefits 1,339 1,363 1,828 2,338
Interest credited to policyholders’ account balances 240 208 495 448
Compensation and benefits (includes $35, $34, $66 and $68 of deferred policy acquisition costs, respectively) 466 450 992 888
Commissions and distribution related payments (includes $112, $116, $213 and $230 of deferred policy acquisition costs, respectively) 377 389 748 771
Interest expense 11 6 22 11
Amortization of deferred policy acquisition costs (net of capitalization of $147, $150, $279 and $298 of deferred policy acquisition costs, respectively) 31 (49) 89 (20)
Other operating costs and expenses 2,486 149 2,926 530
Total benefits and other deductions 4,950 2,516 7,100 4,966
Income (loss) from continuing operations, before income taxes (2,511) 2,032 (2,713) 1,857
Income tax (expense) benefit 553 (419) 622 (298)
Net income (loss) (1,958) 1,613 (2,091) 1,559
Less: net (income) loss attributable to the noncontrolling interest (156) (113) (310) (231)
Net income (loss) attributable to AXA Equitable $ (2,114) $ 1,500 $ (2,401) $ 1,328