2023 Q4 Form 10-Q Financial Statement

#000133398623000036 Filed on November 03, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $3.459B $3.624B
YoY Change 2.76% 20.44%
Cost Of Revenue $1.651B $693.0M
YoY Change 4.76% 10.88%
Gross Profit $1.808B $2.931B
YoY Change 1.01% 22.94%
Gross Profit Margin 52.27% 80.88%
Selling, General & Admin $586.0M $593.0M
YoY Change 12.69% 4.77%
% of Gross Profit 32.41% 20.23%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $236.0M $196.0M
YoY Change 3.96% -9.26%
% of Gross Profit 13.05% 6.69%
Operating Expenses $1.314B $1.208B
YoY Change 10.61% 3.42%
Operating Profit $494.0M $1.723B
YoY Change -17.94% 41.69%
Interest Expense -$1.311B $55.00M
YoY Change -11.12% 7.84%
% of Operating Profit -265.38% 3.19%
Other Income/Expense, Net
YoY Change
Pretax Income -$817.0M $1.475B
YoY Change -11.29% 252.03%
Income Tax -$228.0M $340.0M
% Of Pretax Income 23.05%
Net Earnings -$724.0M $1.064B
YoY Change -11.17% 289.74%
Net Earnings / Revenue -20.93% 29.36%
Basic Earnings Per Share $3.03
Diluted Earnings Per Share -$2.15 $3.02
COMMON SHARES
Basic Shares Outstanding 338.5M shares 347.4M shares
Diluted Shares Outstanding 348.0M shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.239B $6.096B
YoY Change 92.46% 47.28%
Cash & Equivalents $8.239B $6.096B
Short-Term Investments
Other Short-Term Assets $868.0M $928.0M
YoY Change -42.97% -30.49%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $19.30B $17.31B
YoY Change -23.86% -19.07%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $98.02B $93.12B
YoY Change 10.05% 5.22%
Other Assets $7.270B $7.280B
YoY Change -16.63% -11.69%
Total Long-Term Assets $257.5B $242.9B
YoY Change 12.88% 8.35%
TOTAL ASSETS
Total Short-Term Assets $19.30B $17.31B
Total Long-Term Assets $257.5B $242.9B
Total Assets $276.8B $260.3B
YoY Change 9.21% 5.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $579.0M
YoY Change -6.31%
Deferred Revenue
YoY Change
Short-Term Debt $254.0M $0.00
YoY Change -66.53% -100.0%
Long-Term Debt Due $7.168B $7.460B
YoY Change 16.93% 39.75%
Total Short-Term Liabilities $14.44B $13.20B
YoY Change 1.51% 4.88%
LONG-TERM LIABILITIES
Long-Term Debt $3.820B $3.820B
YoY Change 14.99% -5.12%
Other Long-Term Liabilities $246.7B $231.9B
YoY Change 7.39% 3.6%
Total Long-Term Liabilities $3.820B $3.820B
YoY Change 14.99% -98.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.44B $13.20B
Total Long-Term Liabilities $3.820B $3.820B
Total Liabilities $271.7B $256.3B
YoY Change 8.83% 6.62%
SHAREHOLDERS EQUITY
Retained Earnings $10.24B $11.16B
YoY Change 3.21% 2.99%
Common Stock $5.000M $3.000M
YoY Change 25.0% -25.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.649B $1.642B
YoY Change
Total Liabilities & Shareholders Equity $276.8B $260.3B
YoY Change 9.21% 5.97%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$724.0M $1.064B
YoY Change -11.17% 289.74%
Depreciation, Depletion And Amortization $236.0M $196.0M
YoY Change 3.96% -9.26%
Cash From Operating Activities -$392.0M $410.0M
YoY Change 269.81% 418.99%
INVESTING ACTIVITIES
Capital Expenditures $35.00M $25.00M
YoY Change -46.15% -130.12%
Acquisitions
YoY Change
Other Investing Activities $150.0M -$2.424B
YoY Change -104.76% -0.7%
Cash From Investing Activities $115.0M -$2.449B
YoY Change -103.58% -2.97%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.387B 470.0M
YoY Change -33.47% -68.94%
NET CHANGE
Cash From Operating Activities -392.0M 410.0M
Cash From Investing Activities 115.0M -2.449B
Cash From Financing Activities 2.387B 470.0M
Net Change In Cash 2.110B -1.569B
YoY Change 690.26% 68.35%
FREE CASH FLOW
Cash From Operating Activities -$392.0M $410.0M
Capital Expenditures $35.00M $25.00M
Free Cash Flow -$427.0M $385.0M
YoY Change 149.71% 137.65%

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InvestmentIncomeInvestmentExpense
30000000 usd
CY2022Q3 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
33000000 usd
us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
84000000 usd
us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
77000000 usd
CY2023Q3 us-gaap Net Investment Income
NetInvestmentIncome
1071000000 usd
CY2022Q3 us-gaap Net Investment Income
NetInvestmentIncome
842000000 usd
us-gaap Net Investment Income
NetInvestmentIncome
3097000000 usd
us-gaap Net Investment Income
NetInvestmentIncome
2357000000 usd
CY2023Q3 eqh Gains Loss On Investments And Disposition Of Business
GainsLossOnInvestmentsAndDispositionOfBusiness
-411000000 usd
CY2022Q3 eqh Gains Loss On Investments And Disposition Of Business
GainsLossOnInvestmentsAndDispositionOfBusiness
-332000000 usd
eqh Gains Loss On Investments And Disposition Of Business
GainsLossOnInvestmentsAndDispositionOfBusiness
-554000000 usd
eqh Gains Loss On Investments And Disposition Of Business
GainsLossOnInvestmentsAndDispositionOfBusiness
-890000000 usd
CY2023Q3 eqh Interest Credited To Policyholders Account Balances Participating Group Annuity Contracts
InterestCreditedToPolicyholdersAccountBalancesParticipatingGroupAnnuityContracts
0 usd
eqh Interest Credited To Policyholders Account Balances Participating Group Annuity Contracts
InterestCreditedToPolicyholdersAccountBalancesParticipatingGroupAnnuityContracts
1000000 usd
CY2022Q3 eqh Interest Credited To Policyholders Account Balances Participating Group Annuity Contracts
InterestCreditedToPolicyholdersAccountBalancesParticipatingGroupAnnuityContracts
0 usd
eqh Interest Credited To Policyholders Account Balances Participating Group Annuity Contracts
InterestCreditedToPolicyholdersAccountBalancesParticipatingGroupAnnuityContracts
1000000 usd
CY2023Q3 eqh Collateral For Derivative Contract Cash And Securities
CollateralForDerivativeContractCashAndSecurities
8000000000 usd
CY2022Q4 eqh Collateral For Derivative Contract Cash And Securities
CollateralForDerivativeContractCashAndSecurities
4500000000 usd
CY2023Q3 us-gaap Collateral Already Posted Aggregate Fair Value
CollateralAlreadyPostedAggregateFairValue
156000000 usd
CY2022Q4 us-gaap Collateral Already Posted Aggregate Fair Value
CollateralAlreadyPostedAggregateFairValue
142000000 usd
us-gaap Schedule Of Closed Block Assets And Liabilities
ScheduleOfClosedBlockAssetsAndLiabilities
<div style="margin-bottom:9pt;margin-top:9pt;padding-left:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Summarized financial information for the Company’s Closed Block is as follows:</span></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:70.014%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.416%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.533%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.537%"></td><td style="width:0.1%"></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="border-bottom:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">September 30, 2023</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:120%">December 31, 2022</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(in millions)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Closed Block Liabilities:</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Future policy benefits, policyholders’ account balances and other</span></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">5,508</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,692 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Policyholder dividend obligation</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other liabilities</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">110</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">68 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total Closed Block liabilities</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">5,618</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,760 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Assets Designated to the Closed Block:</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Fixed maturities AFS, at fair value (amortized cost of $3,062 and $3,171) (allowance for credit losses of $0 and $0)</span></div></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2,804</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2,948 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Mortgage loans on real estate (net of allowance for credit losses of $11 and $4)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">1,622</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,645 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Policy loans</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">555</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">569 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cash and other invested assets</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">6</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other assets</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">193</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">187 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total assets designated to the Closed Block</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">5,180</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">5,349 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:0.5pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Excess of Closed Block liabilities over assets designated to the Closed Block</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">438</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">411 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Amounts included in AOCI:</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Net unrealized investment gains (losses), net of policyholders’ dividend obligation: $0 and $0; and net of income tax: $54 and $47</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">(203)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(177)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Maximum future earnings to be recognized from Closed Block assets and liabilities</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">235</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">234 </span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>
CY2023Q3 us-gaap Closed Block Liabilities Future Policy Benefits And Policyholder Account Balances
ClosedBlockLiabilitiesFuturePolicyBenefitsAndPolicyholderAccountBalances
5508000000 usd
CY2022Q4 us-gaap Closed Block Liabilities Future Policy Benefits And Policyholder Account Balances
ClosedBlockLiabilitiesFuturePolicyBenefitsAndPolicyholderAccountBalances
5692000000 usd
CY2023Q3 us-gaap Closed Block Liabilities Policyholder Dividends Payable
ClosedBlockLiabilitiesPolicyholderDividendsPayable
0 usd
CY2022Q4 us-gaap Closed Block Liabilities Policyholder Dividends Payable
ClosedBlockLiabilitiesPolicyholderDividendsPayable
0 usd
CY2023Q3 us-gaap Closed Block Liabilities Other Closed Block Liabilities
ClosedBlockLiabilitiesOtherClosedBlockLiabilities
110000000 usd
CY2022Q4 us-gaap Closed Block Liabilities Other Closed Block Liabilities
ClosedBlockLiabilitiesOtherClosedBlockLiabilities
68000000 usd
CY2023Q3 us-gaap Closed Block Liabilities
ClosedBlockLiabilities
5618000000 usd
CY2022Q4 us-gaap Closed Block Liabilities
ClosedBlockLiabilities
5760000000 usd
CY2023Q3 us-gaap Closed Block Investments Fixed Maturity Available For Sale Amortized Cost
ClosedBlockInvestmentsFixedMaturityAvailableForSaleAmortizedCost
3062000000 usd
CY2022Q4 us-gaap Closed Block Investments Fixed Maturity Available For Sale Amortized Cost
ClosedBlockInvestmentsFixedMaturityAvailableForSaleAmortizedCost
3171000000 usd
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CY2023Q3 us-gaap Reinsurance Recoverables On Paid Losses
ReinsuranceRecoverablesOnPaidLosses
8271000000 usd
CY2022Q4 us-gaap Reinsurance Recoverables On Paid Losses
ReinsuranceRecoverablesOnPaidLosses
8471000000 usd
CY2023Q3 eqh Reinsurance Recoverable Amount Due To Reinsurers
ReinsuranceRecoverableAmountDueToReinsurers
1424000000 usd
CY2022Q4 eqh Reinsurance Recoverable Amount Due To Reinsurers
ReinsuranceRecoverableAmountDueToReinsurers
1533000000 usd

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