Equitable Holdings, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Equitable Holdings, Inc. has filed its 2023 annual report (10-K) detailing its financial performance and operations for the fiscal year ending December 31, 2023.</b>

AI Summary

Equitable Holdings, Inc. (EQH-PC) filed a Annual Report (10-K) with the SEC on February 26, 2024. Equitable Holdings, Inc. filed its 2023 Form 10-K on February 26, 2024. The filing covers the fiscal year ending December 31, 2023. The company was formerly known as AXA Equitable Holdings, Inc. The principal business address is 1345 Avenue of the Americas, New York, NY 10105. The filing includes data for the fiscal years 2023, 2022, and 2021.

Why It Matters

For investors and stakeholders tracking Equitable Holdings, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Equitable Holdings' financial health, operational strategies, and risk factors for the fiscal year 2023, crucial for investors assessing the company's performance and future outlook. The detailed financial data and disclosures within the 10-K allow stakeholders to understand the company's financial position, including its assets, liabilities, and equity, as well as its historical performance trends compared to prior years.

Risk Assessment

Risk Level: medium — Equitable Holdings, Inc. shows moderate risk based on this filing. The company's financial performance and stability are subject to market fluctuations and regulatory changes inherent in the insurance and financial services industry, as detailed in its 10-K filing.

Analyst Insight

Review the detailed financial statements and risk factors in the 10-K to understand Equitable Holdings' performance and potential challenges in the upcoming fiscal year.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-02-26 — Filing Date (Date of submission)
• 2023 — Fiscal Year (Primary reporting year)
• 2022 — Fiscal Year (Comparative reporting year)
• 2021 — Fiscal Year (Comparative reporting year)

Key Players & Entities

• Equitable Holdings, Inc. (company) — Filer name
• AXA Equitable Holdings, Inc. (company) — Former company name
• AXA AMERICA HOLDINGS, INC. (company) — Former company name
• 1345 AVENUE OF THE AMERICAS (company) — Business address
• NEW YORK (company) — Business address city
• NY (company) — Business address state
• 10105 (company) — Business address zip
• 212-554-1234 (company) — Business phone

FAQ

Industry Context

Equitable Holdings operates within the insurance and financial services sector, providing a range of financial products and services.

Regulatory Implications

As a publicly traded company in the financial services industry, Equitable Holdings is subject to regulations from the Securities and Exchange Commission (SEC) and other financial regulatory bodies.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and EPS trends.
2. Examine the balance sheet for changes in assets, liabilities, and equity.
3. Review the risk factors section for potential business challenges and mitigation strategies.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-02-26: Filing Date — Date the 10-K was officially filed with the SEC.

Year-Over-Year Comparison

This filing represents the annual report for the fiscal year 2023, providing updated financial and operational information compared to previous filings.

Key Financial Figures

• $0.01 — hares of the registrant's Common Stock, $0.01 par value, were outstanding. DOCUMENTS
• $840 billion — employees and advisors manage more than $840 billion of AUM across these, providing: Advice

Filing Documents

• eqh-20231231.htm (10-K) — 10609KB
• eqh-123123exhibit412.htm (EX-4.12) — 143KB
• eqh-12312023exhibit1019.htm (EX-10.19) — 546KB
• eqh-12312023exhibit1037.htm (EX-10.37) — 64KB
• eqh-12312023exhibit1038.htm (EX-10.38) — 37KB
• eqh-123123exhibit211.htm (EX-21.1) — 91KB
• eqh-123123exhibit231.htm (EX-23.1) — 2KB
• eqh-12312023exhibit311.htm (EX-31.1) — 8KB
• eqh-12312023exhibit312.htm (EX-31.2) — 8KB
• eqh-12312023exhibit321.htm (EX-32.1) — 4KB
• eqh-12312023exhibit322.htm (EX-32.2) — 4KB
• eqh-123123exhibit97.htm (EX-97) — 38KB
• eqh-20231231_g1.jpg (GRAPHIC) — 362KB
• eqh-20231231_g10.jpg (GRAPHIC) — 205KB
• eqh-20231231_g2.jpg (GRAPHIC) — 42KB
• eqh-20231231_g3.jpg (GRAPHIC) — 41KB
• eqh-20231231_g4.jpg (GRAPHIC) — 21KB
• eqh-20231231_g5.jpg (GRAPHIC) — 21KB
• eqh-20231231_g6.jpg (GRAPHIC) — 21KB
• eqh-20231231_g7.jpg (GRAPHIC) — 21KB
• eqh-20231231_g8.jpg (GRAPHIC) — 21KB
• eqh-20231231_g9.jpg (GRAPHIC) — 21KB
• image_0a.jpg (GRAPHIC) — 27KB
• 0001333986-24-000009.txt (&nbsp;) — 54454KB
• eqh-20231231.xsd (EX-101.SCH) — 213KB
• eqh-20231231_cal.xml (EX-101.CAL) — 285KB
• eqh-20231231_def.xml (EX-101.DEF) — 1398KB
• eqh-20231231_lab.xml (EX-101.LAB) — 2379KB
• eqh-20231231_pre.xml (EX-101.PRE) — 1849KB
• eqh-20231231_htm.xml (XML) — 12945KB

Business

Business 5 Item 1A.

Risk Factors

Risk Factors 47 Item 1B. Unresolved Staff Comments 62 Item 1C. Cybersecurity 62 Item 2.

Properties

Properties 64 Item 3.

Legal Proceedings

Legal Proceedings 64 Item 4. Mine Safety Disclosures 64 Part II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 64 Item 6. Reserved 66 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 66 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 115 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 119 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 251 Item 9A.

Controls and Procedures

Controls and Procedures 251 Item 9B. Other Information 251 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 252 Part III Item 10. Directors, Executive Officers and Corporate Governance 252 Item 11.

Executive Compensation

Executive Compensation 252 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 252 Item 13. Certain Relationships and Related Transactions, and Director Independence 253 Item 14. Principal Accountant Fees and Services 253 Part IV Item 15. Exhibits, Financial Statement Schedules 254 Item 16. Form 10-K Summary 254 Glossary 254 Acronyms 257 Index to Exhibits 261

Signatures

Signatures 265 NOTE REGARDING FORWARD-LOOKING STATEMENTS AND INFORMATION Certain of the statements included or incorporated by reference in this Annual Report on Form 10-K constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "expects," "believes," "anticipates," "intends," "seeks," "aims," "plans," "assumes," "estimates," "projects," "should," "would," "could," "may," "will," "shall" or variations of such words are generally part of forward-looking statements. Forward-looking statements are made based on management's current expectations and beliefs concerning future developments and their potential effects upon Equitable Holdings, Inc. ("Holdings") and its consolidated subsidiaries. These forward-looking statements include, but are not limited to, statements regarding projections, estimates, forecasts and other financial and performance metrics and projections of market expectations."We," "us" and "our" refer to Holdings and its consolidated subsidiaries, unless the context refers only to Holdings as a corporate entity. There can be no assurance that future developments affecting Holdings will be those anticipated by management. Forward-looking statements include, without limitation, all matters that are not historical facts. These forward-looking statements are not a guarantee of future performance and involve risks and uncertainties, and there are certain important factors that could cause actual results to differ, possibly materially, from expectations or estimates reflected in such forward-looking statements, including, among others: (i) conditions in the financial markets and economy, including the impact of plateauing or decreasing economic growth and geopolitical conflicts and related economic conditions, equity market declines and volatility, interest rate fluctuations, impacts on our goodwill and changes in liquidity and access to and cost of capital; (ii) operational factors,

BUSINESS

BUSINESS Overview We are one of America's leading financial services companies and have helped clients prepare for their financial future with confidence since 1859. We have three primary business lines — retirement, asset management and affiliated distribution — that we run through our two complementary and well-established principal franchises, Equitable and AllianceBernstein. Our approximately 12,900 employees and advisors manage more than $840 billion of AUM across these, providing: Advice and solutions for helping Americans to set and meet their retirement goals and protect and transfer their wealth across generations; and A wide range of investment management insights, expertise and innovations to drive better investment decisions and outcomes for clients and institutional investors worldwide. Within our three business lines, we have six segments: Individual Retirement, Group Retirement, Investment Management and Research, Protection Solutions, Wealth Management, and Legacy. We continue to maintain market-leading positions in Individual Retirement, Group Retirement, Investment Management and Research, and Protection Solutions while our Wealth Management segment continues to grow in prominence. We distribute our products through a premier affiliated and third-party distribution platform, consisting of: Affiliated Distribution: Our affiliated retail sales force, Equitable Advisors, which has approximately 4,400 licensed financial professionals who advise on retirement, protection and investment advisory solutions; and More than 200 Bernstein Financial Advisors, who are responsible for the sale of investment products and solutions to Private Wealth clients. Third-Party Distribution: Approximately 1,000 distribution agreements with banks, broker dealers, insurance carriers, brokerage general agencies, independent marketing organizations and wires giving us access to more than 150,000 financial professionals to market our retirement, protection and inves

View Full Filing

View this 10-K filing on SEC EDGAR