Equitable Holdings, Inc. (EQH) [Rocket]

In millions, except per share items	Jun-30-23	Dec-31-22	Jun-30-22	Mar-31-22	Dec-31-21	Sep-30-21	Jun-30-21	Mar-31-21
	10-Q	8-K	10-Q	10-Q	10-K	10-Q	10-Q	10-Q
Revenues:
Wealth Management	391		368
Legacy	203		199
Individual Retirement	647		471	1,022	828	998	979	980
Investment Management and Research	1,000		1,003	1,135	1,261	1,093	1,072	1,004
Other	136		2,649	1,787	1,229	1,524	899
Total revenues	2,377	1,896	4,690	3,944	3,318	3,615	2,950	1,153
Revenue growth	-49.3%	-42.9%	59.0%	242.1%	543.0%	96.5%	-215.7%	-90.9%
Loss and loss adjustment expenses	684		589	1,060	700	751	828	939
Policy acquisition costs				20
Investment expenses	28		22
Other operating expenses	1,071	2,817	2,754	2,030	2,093	1,875	1,827	1,948
General and administrative	566		518	595	598	614	568	580
Equity in earnings
EBITDA			1,430	1,073	744	1,077	390	-1,401
EBITDA margin	26.5%		30.5%	27.2%	22.4%	29.8%	13.2%	-121.5%
Depreciation			-2	180	161	88	95	153
EBIT	629	804	1,432	893	583	989	295	-1,554
EBIT margin	26.5%	42.4%	30.5%	22.6%	17.6%	27.4%	10.0%	-134.8%
Interest income, net [+]	-972	0	1,808	774	-564	-244	-1,250	-2,620
Interest expense	55		50	47	60	59	51	74
Interest income	-917		1,858	821	-504	-185	-1,199	-2,546
Other income (expense), net					-31
Pre-tax income	539	-921	1,275	787	465	930	244	-1,808
Income taxes	-292	-208	264	148	77	165	21	-408
Tax rate		22.6%	20.7%	18.8%	16.6%	17.7%	8.6%	22.6%
Minority interest	72		44	66	134	93	100	88
Net income	733	-713	941	559	228	658	97	-1,501
Net margin	30.8%	-37.6%	20.1%	14.2%	6.9%	18.2%	3.3%	-130.2%

Basic EPS	$2.06		$2.48	$1.44	$0.55	$1.60	$0.23	($3.46)
Diluted EPS	$2.06		$2.47	$1.43	$0.55	$1.59	$0.23	($3.46)

Shares outstanding (basic)	355		379	389	417	411	424	434
Shares outstanding (diluted)	356		381	392	417	415	428	434

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.