 |
|
|
THE EQUITABLE COMPANIES INCORPORATED
Condensed Consolidated Statements of Earnings
(Unaudited)(In $ millions, except per share amounts)
 |
|
Three Months
Ended December 31, |
Year ended December 31, |
| |
1997 |
1996 |
1997 |
1996 |
|
| Total revenues |
$ 2,327.5 |
$ 2,251.5 |
$ 9,666.1 |
$ 8,332.6 |
| Total benefits and other deductions |
2,291.3 |
2,391.9 |
8,563.1 |
7,816.8 |
 |
Earnings (loss) before Federal income
taxes, minority interest and cumulative
effect of accounting change |
36.2 |
(140.4) |
1,103.0 |
515.8 |
| Federal income taxes (benefit) |
(95.7) |
(60.8) |
280.5 |
137.4 |
Minority interest in net income of
consolidated subsidiaries |
61.7 |
44.5 |
174.3 |
172.4 |
|
Earnings (Loss) from Continuing
Operations before Cumulative
Effect of Accounting Change |
70.2 |
(124.1) |
648.2 |
206.0 |
Discontinued operations, net of Federal
income taxes |
(84.3) |
(83.8) |
(87.2) |
(83.8) |
Cumulative effect of accounting change,
net of Federal income taxes |
- |
- |
- |
(23.1) |
|
| Net earnings (loss) |
(14.1) |
(200.9) |
561.0 |
99.1 |
| Dividends on preferred stocks |
- |
(6.7) |
(15.6) |
(26.7) |
|
Net Earnings (Loss) Applicable to
Common Shares |
$ (14.1) |
$ (214.6) |
$ 545.4 |
$ 72.4 |
|
Earnings (Loss) from Continuing
Operations before Cumulative
Effect of Accounting Change
Per Common Share*: |
|
|
|
|
Basic |
$ .32 |
$ (.71) |
$ 3.14 |
$ .97 |
Diluted |
$ .28 |
$ (.71) |
$ 2.86 |
$ .94 |
| Net Earnings (Loss) Per Common Share*: |
|
|
|
|
Basic |
$ (.06) |
$ (1.15) |
$ 2.71 |
$ .39 |
Diluted |
$ (.09) |
$ (1.16) |
$ 2.47 |
$ .37 |
Weighted Average Number of Common
Shares Outstanding: |
|
|
|
|
Basic |
222.1 |
185.8 |
201.6 |
185.4 |
Diluted |
224.3 |
186.6 |
222.4 |
186.2 |
|
| Cash Dividends Per Common Share |
$ .05 |
$ .05 |
$ .20 |
$ .20 |
|
| * Computed in accordance with SFAS No. 128; prior period amounts have been restated. |
Back to Press Release
|
|
