 |
 |
Three Months Ended December 31, |
Year ended December 31, |
|
1997 |
1996 |
1997 |
1996 |
|
| Net Earnings |
$ (14.1) |
$ (163.9) |
$ 561.0 |
$ 99.1 |
Investment (gains) losses -- net of DAC and
other charges |
197.7 |
(6.6) |
185.2 |
7.2 |
| Gain on sale of Equitable Real Estate Investment Management |
- |
- |
(162.4) |
- |
Write down of intangible assets at Alliance
Capital |
- |
- |
59.5 |
- |
| Restructuring charges |
- |
13.4 |
27.6 |
15.1 |
| Reserve strengthening |
- |
255.5 |
- |
255.5 |
| Release of prior years tax reserves |
(97.5) |
- |
(97.5) |
- |
Discontinued operations, net of Federal
income taxes |
84.3 |
83.8 |
87.2 |
83.8 |
| Cumulative effect of FASB No. 121 |
- |
- |
- |
23.1 |
 |
| After-tax Operating Earnings |
$ 167.4 |
$ 138.2 |
$ 660.6 |
$ 483.8 |
|
Contributions to After-tax Operating
Earnings
Insurance Operations |
96.0 |
71.2 |
375.9 |
277.3 |
| DLJ |
69.5 |
49.9 |
287.4 |
196.1 |
| Alliance Capital |
23.6 |
21.9 |
68.1 |
68.1 |
| Other |
(18.7) |
(4.8) |
(67.8) |
(57.7) |
After-tax Operating Earnings
Per Common Share*: |
|
|
|
|
Basic |
$ .77 |
$ .71 |
$ 3.20 |
$ 2.47 |
Diluted |
$ .73 |
$ .64 |
$ 2.92 |
$ 2.26 |
Weighted Average Number of Common
Shares Outstanding: |
|
|
|
Basic |
221.1 |
185.8 |
163.6 |
185.4 |
Diluted |
224.3 |
219.1 |
222.4 |
218.7 |
|
| Book Value Per Common Share |
|
|
$ 23.57 |
$ 19.12 |
Per Common Share, excluding net
unrealized investment gains and losses
associated with FASB No. 115
|
|
|
$ 21.38 |
$ 18.15 |
|
| * Computed in accordance with SFAS No. 128; prior period amounts have been restated. |
