|
|
Three Months Ended June 30, |
Six Months Ended
June 30, |
|
1998 |
1997 |
1998 |
1997 |
|
| Net Earnings |
$ 248.8 |
$ 252.7 |
$ 515.4 |
$ 388.7 |
| Investment gains, net of related DAC and other charges |
(16.1) |
(3.7) |
(68.3) |
(14.3) |
| Gain on sale of Equitable Real Estate Investment Management |
--- |
(162.4) |
--- |
(162.4) |
| Writedown of intangible assets at Alliance Capital |
--- |
59.5 |
--- |
59.5 |
| Restructuring Charges |
--- |
24.2 |
--- |
27.6 |
| Discontinued operations, net of Federal income taxes |
(1.3) |
(0.6) |
(1.8) |
2.7 |
 |
| After-tax Operating Earnings |
231.4 |
169.7 |
445.3 |
301.8 |
|
| After-tax interest expense on convertible debt |
--- |
3.8 |
--- |
7.6 |
| Dilutive effect of subsidiary options |
(9.1) |
(5.8) |
(16.8) |
(8.1) |
|
| Operating Earnings Applicable to Common Shares |
$ 222.3 |
$ 167.7 |
$ 428.5 |
$ 301.3 |
|
| Contributions to After-tax Operating Earnings |
|
|
|
|
| Insurance Operations |
$ 130.5 |
$ 100.1 |
$ 252.9 |
$ 177.1 |
| DLJ |
96.9 |
71.8 |
188.4 |
129.9 |
| Alliance Capital |
20.5 |
11.0 |
34.7 |
25.3 |
| Other |
(16.5) |
(13.2) |
(30.7) |
(30.5) |
|
| After-tax Operating Earnings Per Common Share*: |
|
|
|
|
|
|
|
|
| Diluted |
$ .98 |
$ .76 |
$ 1.90 |
$ 1.37 |
|
| Weighted Average Number of Common Shares Outstanding: |
|
|
|
|
| Basic |
222.7 |
187.0 |
222.5 |
186.7 |
| Diluted |
226.1 |
220.9 |
225.4 |
220.6 |
|
Book Value:
Per Common Share |
|
|
$ 26.12 |
$ 21.55 |
Per Common Share, excluding net unrealized investment gains and losses associated with FASB No. 115
 |
|
|
$ 23.59
|
$ 20.09
|
|
* Computed in accordance with SFAS No. 128; prior period
amounts have been restated.
