EQUITY (Tables)

3 Months Ended

Mar. 31, 2022

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

AOCI represents cumulative gains (losses) on items that are not reflected in net income (loss). The balances as of March 31, 2022 and December 31, 2021 follow:

	March 31,		December 31,
	2022		2021
	(in millions)
Unrealized gains (losses) on investments	$	(1,154)	$	2,362
Defined benefit pension plans	(5)		(5)
Accumulated other comprehensive income (loss) attributable to Equitable Financial	$	(1,159)	$	2,357

Components of Accumulated Other Comprehensive Income (Loss), Net of Taxes

The components of OCI, net of taxes for the three months ended March 31, 2022 and 2021, follow:

	Three Months Ended March 31,
	2022		2021
	(in millions)
Change in net unrealized gains (losses) on investments:
Net unrealized gains (losses) arising during the period	$	(4,795)	$	(3,868)
(Gains) losses reclassified into net income (loss) during the period (1)	261		(164)
Net unrealized gains (losses) on investments	(4,534)		(4,032)
Adjustments for policyholders’ liabilities, DAC, insurance liability loss recognition and other	1,018		918
Change in unrealized gains (losses), net of adjustments (net of deferred income tax expense (benefit) of $(935) and $828)	(3,516)		(3,114)
Other comprehensive income (loss), attributable to Equitable Financial	$	(3,516)	$	(3,114)

____________

(1)See “Reclassification adjustments” in Note 3 of the Notes to these Consolidated Financial Statements. Reclassification amounts presented net of income tax expense (benefit) of $(70) million and $44 million for the three months ended March 31, 2022 and 2021, respectively.