 |
|
|
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, |
|
1998 |
1997 |
1998 |
1997 |
|
| Total revenues |
$ 2,648.6 |
$ 2,327.5 |
$ 10,918.5 |
$ 9,666.1 |
Total benefits and other
deductions |
2,301.0 |
2,291.3 |
9,314.5 |
8,563.1 |
 |
Earnings from continuing
operations before Federal
income taxes and minority
interest |
347.6 |
36.2 |
1,604.0 |
1,103.0 |
| Federal income taxes (benefit) |
113.0 |
(95.7) |
527.8 |
280.5 |
Minority interest in net income of
consolidated subsidiaries |
56.9 |
61.7 |
245.8 |
174.3 |
|
Earnings from continuing
operations |
177.7 |
62.2 |
830.4 |
648.2 |
Discontinued operations, net of
Federal income taxes |
(84.3) |
2.7 |
(87.2) |
|
|
| Net earnings (loss) |
177.9 |
(14.1) |
833.1 |
|
After-tax interest expense on
convertible debt |
- |
- |
- |
8.9 |
Dilutive effect of
subsidiary options |
(3.4) |
(6.3) |
(21.7) |
(20.2) |
|
Net Earnings (Loss) Applicable to
Common Shares |
$ 174.5 |
$ (20.4) |
$ 811.4 |
$ 549.7 |
|
Earnings from Continuing
Operations Per Common Share: |
|
|
|
|
Basic |
$ .81 |
$ .32 |
$ 3.75 |
$ 3.14 |
Diluted |
$ .79 |
$ .28 |
$ 3.60 |
$ 2.86 |
Net Earnings (Loss) Per
Common Share: |
|
|
|
|
Basic |
$ .81 |
$ (.06) |
$ 3.76 |
$ 2.71 |
Diluted |
$ .79 |
$ (.09) |
$ 3.62 |
$ 2.47 |
Weighted Average Number of
Common Shares Outstanding: |
|
|
|
|
Basic |
219.7 |
222.1 |
221.6 |
201.6 |
Diluted |
221.6 |
224.3 |
224.4 |
222.4 |
|
Cash Dividends Per
Common Share |
$ .05 |
$ .05 |
$ .20 |
$ .20 |
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