THE EQUITABLE COMPANIES INCORPORATED
After-Tax Opertaing Earnings
(Unaudited)(In $ Millions, Except Per Share Amounts)
 |
 |
Three Months
Ended June 30, |
Six Months
Ended
June 30, |
| |
1999 |
1998 |
1999 |
1998 |
|
| Net Earnings |
$ 381.0 |
$ 248.8 |
$ 602.1 |
$ 515.4 |
| Investment gains, net of related
DAC and other charges |
(184.1) |
(16.1) |
(179.6) |
(68.3) |
 |
| Non-recurring DAC adjustments |
85.6 |
--- |
85.6 |
--- |
| Federal income taxes (benefit) |
(95.7) |
(60.8) |
280.5 |
137.4 |
| Discontinued operations, net of
Federal income taxes |
1.3 |
(1.3) |
6.6 |
(1.8) |
|
| After-tax Operating Earnings |
$ 283.8 |
$ 231.4 |
$ 514.7 |
$ 445.3 |
| Dilutive effect of subsidiary
options |
((12.5) |
(9.1) |
(21.1) |
(16.8) |
|
| Operating Earnings Applicable to
Common Shares |
$ 271.3 |
$ 222.3 |
$ 493.6 |
$ 428.5 |
|
| Contributions to After-tax
Operating Earnings |
|
|
|
|
| Insurance |
$ 141.3 |
$ 114.3 |
$ 269.4 |
$ 223.0 |
| Investment Banking |
112.2 |
94.8 |
190.7 |
184.5 |
| Asset
Management |
30.3 |
22.3 |
54.6 |
37.8 |
|
After-tax Operating Earnings Per
Common Share: |
|
|
|
|
Basic |
$ 1.29 |
$ 1.04 |
$ 2.35 |
$ 2.00 |
| Diluted |
$ 1.22 |
$ .98 |
$ 2.22 |
$ 1.90 |
|
Weighted Average Number of Common
Shares Outstanding: |
|
|
|
|
Basic |
219.4 |
222.7 |
219.2 |
222.5 |
| Diluted |
222.3 |
226.1 |
222.0 |
225.4 |
|
Book Value:
Per Common Share |
|
|
$ 26.28 |
$ 26.12 |
Per Common Share, excluding net unrealized investment gains and losses associated with FASB No. 115 |
|
|
$ 26.95 |
$ 23.59 |
|
Return to Press Release
|
