Equitable Holdings, Inc. (EQH) FY2026 YTD Q2 Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2026-01-01 to 2026-06-30

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Equitable Holdings, Inc. cash flow reconciliation, Jan 1, 2026 through Jun 30, 2026One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash. Intermediate calculation bars are lighter gray. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Read chart description and values below for full signed amounts, including zero items.Net income (loss) → Net cash from operating activities: $378,000,000.00Interest credited to policyholders’ account balances → Operating adjustments reconciliation: $1,604,000,000.00Net derivative (gains) losses → Operating adjustments reconciliation: $1,475,000,000.00Other, net → Operating adjustments reconciliation: $615,000,000.00Amortization and depreciation → Operating adjustments reconciliation: $463,000,000.00Segregated cash and securities, net → Operating adjustments reconciliation: $271,000,000.00Non-cash long term incentive compensation expense → Operating adjustments reconciliation: $60,000,000.00Investment (gains) losses, net → Operating adjustments reconciliation: $57,000,000.00Credit and intent to sell losses on available-for-sale debt securities and loans → Operating adjustments reconciliation: $37,000,000.00Loss on novation → Operating adjustments reconciliation: $13,000,000.00Operating adjustments reconciliation → Net cash from operating activities: $764,000,000.00Operating adjustments reconciliation → Reinsurance recoverable and related balances, net: $966,000,000.00Operating adjustments reconciliation → Policy charges and fee income: $855,000,000.00Operating adjustments reconciliation → Change in market risk benefits: $676,000,000.00Operating adjustments reconciliation → Capitalization of deferred policy acquisition costs: $596,000,000.00Operating adjustments reconciliation → Current and deferred income taxes: $372,000,000.00Operating adjustments reconciliation → Future policy benefits: $215,000,000.00Operating adjustments reconciliation → Net broker-dealer and customer related receivables/payables: $90,000,000.00Operating adjustments reconciliation → Equity (income) loss from limited partnerships: $40,000,000.00Operating adjustments reconciliation → Realized and unrealized (gains) losses on trading securities: $15,000,000.00Operating adjustments reconciliation → Remeasurement of liability for future policy benefits: $6,000,000.00Deposits → financing reconciliation: $12,842,000,000.00Change in collateralized pledged liabilities → financing reconciliation: $2,907,000,000.00Transfers (to) from Separate Accounts → financing reconciliation: $968,000,000.00Proceeds from notes issued by consolidated VIEs → financing reconciliation: $802,000,000.00Purchases (redemptions) of noncontrolling interests of consolidated company-sponsored investment funds → financing reconciliation: $35,000,000.00Other, net → financing reconciliation: $35,000,000.00Proceeds from collateralized loan obligations → financing reconciliation: $33,000,000.00financing reconciliation → Net cash from financing activities: $8,701,000,000.00financing reconciliation → Withdrawals: $6,896,000,000.00financing reconciliation → Purchase of treasury shares: $513,000,000.00financing reconciliation → Repayment of notes issued by consolidated VIEs: $367,000,000.00financing reconciliation → Payments of market risk benefits: $329,000,000.00financing reconciliation → Change in securities lending: $208,000,000.00financing reconciliation → Distribution to noncontrolling interest of consolidated subsidiaries: $185,000,000.00financing reconciliation → Change in collateralized pledged assets: $177,000,000.00financing reconciliation → Dividends paid on common stock: $159,000,000.00financing reconciliation → Purchase of AB Holding Units to fund long-term incentive compensation plan awards, net: $28,000,000.00financing reconciliation → Dividends paid on preferred stock: $27,000,000.00financing reconciliation → Repayment of short-term financings: $25,000,000.00financing reconciliation → Repayment of collateralized loan obligations: $7,000,000.00Net cash used in investing activities → investing reconciliation: $5,117,000,000.00Fixed maturities, available-for-sale → investing reconciliation: $6,955,000,000.00Cash settlements related to derivative instruments, net → investing reconciliation: $1,324,000,000.00Mortgage loans on real estate → investing reconciliation: $1,323,000,000.00Fixed maturities, at fair value using the fair value option → investing reconciliation: $331,000,000.00Other → investing reconciliation: $300,000,000.00Trading account securities → investing reconciliation: $297,000,000.00Short term investments → investing reconciliation: $11,000,000.00investing reconciliation → Fixed maturities, available-for-sale: $10,862,000,000.00investing reconciliation → Mortgage loans on real estate: $3,451,000,000.00investing reconciliation → Trading account securities: $451,000,000.00investing reconciliation → Other: $378,000,000.00investing reconciliation → Fixed maturities, at fair value using the fair value option: $363,000,000.00investing reconciliation → Other, net: $89,000,000.00investing reconciliation → Mortgage loans, at fair value using the fair value option: $25,000,000.00investing reconciliation → Short term investments: $20,000,000.00investing reconciliation → Investment in capitalized software, leasehold improvements and EDP equipment: $19,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $12,462,000,000.00Net cash from operating activities → Cash sources and uses: $1,142,000,000.00Net cash from financing activities → Cash sources and uses: $8,701,000,000.00Cash sources and uses → Exchange-rate effect: $5,000,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $17,183,000,000.00Cash sources and uses → Net cash used in investing activities: $5,117,000,000.00Interest credited to policyholders’ account balances: $1,604,000,000.00Policyholder interest credited+$1.60 BPolicy charges and fee income: -$855,000,000.00Policy charges and fee income−$855.00 MNet derivative (gains) losses: $1,475,000,000.00Derivative gain & loss, net+$1.48 BCredit and intent to sell losses on available-for-sale debt securities and loans: $37,000,000.00AFS credit & intent-to-sell losses+$37.00 MInvestment (gains) losses, net: $57,000,000.00Investment gain & loss+$57.00 MRealized and unrealized (gains) losses on trading securities: -$15,000,000.00Trading securities gain & loss−$15.00 MLoss on novation: $13,000,000.00Loss on novation+$13.00 MAB Retirement plan losses: $0.00Non-cash long term incentive compensation expense: $60,000,000.00Accrued compensation+$60.00 MAmortization and depreciation: $463,000,000.00Amortization and depreciation+$463.00 MRemeasurement of liability for future policy benefits: -$6,000,000.00Policy benefit remeasurement−$6.00 MChange in market risk benefits: -$676,000,000.00Market risk benefits, net−$676.00 MEquity (income) loss from limited partnerships: -$40,000,000.00Partnership income & loss−$40.00 MNet broker-dealer and customer related receivables/payables: -$90,000,000.00Broker & customer balances, net−$90.00 MReinsurance recoverable and related balances, net: -$966,000,000.00Reinsurance recoverables−$966.00 MSegregated cash and securities, net: $271,000,000.00Segregated cash & securities, net+$271.00 MCapitalization of deferred policy acquisition costs: -$596,000,000.00Deferred acquisition costs−$596.00 MFuture policy benefits: -$215,000,000.00Policy benefit reserves−$215.00 MCurrent and deferred income taxes: -$372,000,000.00Income taxes payable−$372.00 MOther, net: $615,000,000.00Other non-cash items+$615.00 MNet income (loss): $378,000,000.00Net income (loss)+$378.00 MNet cash from operating activities: $1,142,000,000.00Operating cash+$1.14 BOperating adjustments reconciliation: $4,595,000,000.00Deposits: $12,842,000,000.00Contractholder deposits+$12.84 BWithdrawals: -$6,896,000,000.00Contractholder withdrawals−$6.90 BTransfers (to) from Separate Accounts: $968,000,000.00Transfers with Separate Accounts+$968.00 MPayments of market risk benefits: -$329,000,000.00Payments of market risk benefits−$329.00 MRepayment of short-term financings: -$25,000,000.00Short-term debt, net−$25.00 MChange in collateralized pledged assets: -$177,000,000.00Collateralized pledged assets−$177.00 MChange in collateralized pledged liabilities: $2,907,000,000.00Collateralized pledged liabilities+$2.91 BIssuance of long-term debt: $0.00Proceeds from collateralized loan obligations: $33,000,000.00Collateralized loan proceeds+$33.00 MRepayment of collateralized loan obligations: -$7,000,000.00Collateralized loan repayments−$7.00 MProceeds from notes issued by consolidated VIEs: $802,000,000.00Consolidated VIE notes issued+$802.00 MRepayment of notes issued by consolidated VIEs: -$367,000,000.00Consolidated VIE notes repaid−$367.00 MDividends paid on common stock: -$159,000,000.00Common dividends paid−$159.00 MDividends paid on preferred stock: -$27,000,000.00Preferred dividends paid−$27.00 MRedemption of preferred stock: $0.00Purchase of AllianceBernstein Units: $0.00Purchase of AB Holding Units to fund long-term incentive compensation plan awards, net: -$28,000,000.00AB Holding unit purchases, net−$28.00 MPurchase of treasury shares: -$513,000,000.00Common stock repurchases−$513.00 MPurchases (redemptions) of noncontrolling interests of consolidated company-sponsored investment funds: $35,000,000.00Fund noncontrolling interests, net+$35.00 MDistribution to noncontrolling interest of consolidated subsidiaries: -$185,000,000.00Paid to noncontrolling interests−$185.00 MChange in securities lending: -$208,000,000.00Securities lending, net−$208.00 MOther, net: $35,000,000.00Other financing, net+$35.00 MNet cash from financing activities: $8,701,000,000.00Financing cash+$8.70 Bfinancing reconciliation: $17,622,000,000.00Fixed maturities, available-for-sale: $6,955,000,000.00AFS securities proceeds+$6.96 BFixed maturities, at fair value using the fair value option: $331,000,000.00Fixed maturity sales, FV+$331.00 MMortgage loans on real estate: $1,323,000,000.00Mortgage note collections+$1.32 BTrading account securities: $297,000,000.00Trading sales & maturities+$297.00 MShort term investments: $11,000,000.00Short-term investment sales+$11.00 MOther: $300,000,000.00Other investment proceeds+$300.00 MFixed maturities, available-for-sale: -$10,862,000,000.00AFS securities purchases−$10.86 BFixed maturities, at fair value using the fair value option: -$363,000,000.00Fixed maturity purchases, FV−$363.00 MMortgage loans on real estate: -$3,451,000,000.00Mortgage note purchases−$3.45 BMortgage loans, at fair value using the fair value option: -$25,000,000.00Mortgage loans, FV option−$25.00 MTrading account securities: -$451,000,000.00Trading securities purchases−$451.00 MShort term investments: -$20,000,000.00Short-term investment purchases−$20.00 MOther: -$378,000,000.00Other investment purchases−$378.00 MCash settlements related to derivative instruments, net: $1,324,000,000.00Derivatives, net+$1.32 BInvestment in capitalized software, leasehold improvements and EDP equipment: -$19,000,000.00Software, leasehold & EDP purchases−$19.00 MOther, net: -$89,000,000.00Other investing, net−$89.00 MNet cash used in investing activities: -$5,117,000,000.00. Cash required to fund net payments.Investing cash−$5.12 Binvesting reconciliation: $15,658,000,000.00Cash sources and uses: $22,305,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $12,462,000,000.00Beginning cash$12.46 BEnding cash: Cash, cash equivalents, and restricted cash: $17,183,000,000.00Ending cash$17.18 BExchange-rate effect: -$5,000,000.00FX effect−$5.00 MCASH RECONCILIATIONOperatingflowsFinancingflowsInvestingflowsFree cash flowNot availableCash flow / Net income3.02×Operating cash flow ÷ net incomeNet cash change+$4.72 BEnding cash − beginning cash
Chart details

Equitable Holdings, Inc. cash flow reconciliation, Jan 1, 2026 through Jun 30, 2026

Cash flows for Jan 1, 2026 through Jun 30, 2026. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Dec 31, 2025. Ending cash: Jun 30, 2026. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Dec 31, 2025
12,462,000,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
1,142,000,000 US dollars. Net cash provided.
Interest credited to policyholders’ account balances
1,604,000,000 US dollars
Policy charges and fee income
negative 855,000,000 US dollars
Net derivative (gains) losses
1,475,000,000 US dollars
Credit and intent to sell losses on available-for-sale debt securities and loans
37,000,000 US dollars
Investment (gains) losses, net
57,000,000 US dollars
Realized and unrealized (gains) losses on trading securities
negative 15,000,000 US dollars
Loss on novation
13,000,000 US dollars
AB Retirement plan losses
0 US dollars
Non-cash long term incentive compensation expense
60,000,000 US dollars
Amortization and depreciation
463,000,000 US dollars
Remeasurement of liability for future policy benefits
negative 6,000,000 US dollars
Change in market risk benefits
negative 676,000,000 US dollars
Equity (income) loss from limited partnerships
negative 40,000,000 US dollars
Net broker-dealer and customer related receivables/payables
negative 90,000,000 US dollars
Reinsurance recoverable and related balances, net
negative 966,000,000 US dollars
Segregated cash and securities, net
271,000,000 US dollars
Capitalization of deferred policy acquisition costs
negative 596,000,000 US dollars
Future policy benefits
negative 215,000,000 US dollars
Current and deferred income taxes
negative 372,000,000 US dollars
Other, net
615,000,000 US dollars
Net income (loss)
378,000,000 US dollars
Investing activities
negative 5,117,000,000 US dollars. Net cash used.
Fixed maturities, available-for-sale
6,955,000,000 US dollars
Fixed maturities, at fair value using the fair value option
331,000,000 US dollars
Mortgage loans on real estate
1,323,000,000 US dollars
Trading account securities
297,000,000 US dollars
Short term investments
11,000,000 US dollars
Other
300,000,000 US dollars
Fixed maturities, available-for-sale
negative 10,862,000,000 US dollars
Fixed maturities, at fair value using the fair value option
negative 363,000,000 US dollars
Mortgage loans on real estate
negative 3,451,000,000 US dollars
Mortgage loans, at fair value using the fair value option
negative 25,000,000 US dollars
Trading account securities
negative 451,000,000 US dollars
Short term investments
negative 20,000,000 US dollars
Other
negative 378,000,000 US dollars
Cash settlements related to derivative instruments, net
1,324,000,000 US dollars
Investment in capitalized software, leasehold improvements and EDP equipment
negative 19,000,000 US dollars
Other, net
negative 89,000,000 US dollars
Financing activities
8,701,000,000 US dollars. Net cash provided.
Deposits
12,842,000,000 US dollars
Withdrawals
negative 6,896,000,000 US dollars
Transfers (to) from Separate Accounts
968,000,000 US dollars
Payments of market risk benefits
negative 329,000,000 US dollars
Repayment of short-term financings
negative 25,000,000 US dollars
Change in collateralized pledged assets
negative 177,000,000 US dollars
Change in collateralized pledged liabilities
2,907,000,000 US dollars
Issuance of long-term debt
0 US dollars
Proceeds from collateralized loan obligations
33,000,000 US dollars
Repayment of collateralized loan obligations
negative 7,000,000 US dollars
Proceeds from notes issued by consolidated VIEs
802,000,000 US dollars
Repayment of notes issued by consolidated VIEs
negative 367,000,000 US dollars
Dividends paid on common stock
negative 159,000,000 US dollars
Dividends paid on preferred stock
negative 27,000,000 US dollars
Redemption of preferred stock
0 US dollars
Purchase of AllianceBernstein Units
0 US dollars
Purchase of AB Holding Units to fund long-term incentive compensation plan awards, net
negative 28,000,000 US dollars
Purchase of treasury shares
negative 513,000,000 US dollars
Purchases (redemptions) of noncontrolling interests of consolidated company-sponsored investment funds
35,000,000 US dollars
Distribution to noncontrolling interest of consolidated subsidiaries
negative 185,000,000 US dollars
Change in securities lending
negative 208,000,000 US dollars
Other, net
35,000,000 US dollars
Operating adjustment reconciliation
4,595,000,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
financing gross reconciliation
17,622,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing gross reconciliation
15,658,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
Exchange-rate effect
negative 5,000,000 US dollars
Ending cash on Jun 30, 2026
17,183,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
22,305,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
4,721,000,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
3.02×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net income enters operating cash directly in the reconciliation. The adjustment junction contributes the remaining $764.00M after reconciling the other positive and negative adjustments. These connections depict an accounting reconciliation, not traced cash receipts.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
Equitable Holdings, Inc. (EQH) FY2026 YTD Q2 Statement of Cash Flows Sankey chart
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