 |
|
|
THE EQUITABLE COMPANIES INCORPORATED
Condensed Consolidated Statements of Earnings
(Unaudited)(In $ millions, except per share amounts)
 |
|
Three Months Ended
June 30, |
Six Months Ended
June 30, |
|
1998 |
1997 |
1998 |
1997 |
| |
| Total revenues |
$ 2,952.5 |
$ 2,587.0 |
$ 5,896.3 |
$ 4,817.5 |
| Total benefits and other deductions |
2,470.1 |
2,162.9 |
4,906.3 |
4,117.3 |
 |
| Earnings from continuing operations before Federal income taxes and minority interest |
482.4 |
424.1 |
990.0 |
700.2 |
| Federal income taxes |
158.3 |
172.3 |
328.8 |
259.7 |
| Minority interest in net income (loss) of consolidated subsidiaries |
76.6 |
(0.3) |
147.6 |
49.1 |
|
| Earnings from continuing operations |
247.5 |
252.1 |
513.6 |
391.4 |
| Discontinued operations, net of Federal income taxes |
1.3 |
.6 |
1.8 |
(2.7) |
|
| Net earnings |
$ 248.8 |
$ 252.7 |
$ 515.4nbsp; |
$ 388.7 |
|
| After-tax interest expense on convertible debt |
--- |
3.8 |
--- |
7.6 |
|
| Dilutive effect of subsidiary options |
(9.1) |
(5.5) |
(16.8) |
(7.5) |
|
| Net Earnings Applicable to Common Shares |
$ 239.7 |
$ 251.0 |
$ 498.6 |
$ 388.8 |
|
Earnings from Continuing Operations
Per Common Share*: |
|
|
|
|
| Basic |
$ 1.11 |
$ 1.31 |
$ 2.31 |
$ 2.03 |
| Diluted |
$ 1.05 |
$ 1.13 |
$ 2.20 |
$ 1.78 |
| Net Earnings Per Common Share*: |
|
|
|
|
| Basic |
$ 1.12 |
$ 1.32 |
$ 2.32 |
$ 2.01 |
| Diluted |
$ 1.06 |
$ 1.14 |
$ 2.21 |
$ 1.76 |
| Weighted Average Number of Common SharesOutstanding: |
|
|
|
|
| Basic |
222.7 |
187.0 |
222.5 |
186.7 |
| Diluted |
226.1 |
220.9 |
225.4 |
220.6 |
|
Cash Dividends Per Common Share
 |
$ .05
|
$ .05
|
$ .10
|
$ .10
|
|
* Computed in accordance with SFAS No. 128; prior period amounts have been restated.
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