Equitable Holdings, Inc. (EQH)

Equitable Holdings Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	-456	-1,037	1,796	1,624	2,394	2,170
Depreciation & Amortization	883	872	868	821	636	519
Stock-Based Compensation	273	277	285	234	286	226
Other Adjustments	3,783	4,064	359	839	-2,161	-1,725
Changes in Receivables	-400	-135	-446	-910	189	-131
Changes in Reinsurance Contract Assets	-1,668	-1,207	-868	-1,469	-636	-1,092
Changes in Deferred Acquisition Costs	-1,188	-1,169	-1,177	-976	-841	-877
Changes in Claims Reserves	-11	91	394	329	-495	-151
Changes in Income Taxes Payable	-1,009	-968	315	-1,168	470	133
Changes in Other Operating Activities	822.5	-74	480	468	-92	735
Operating Cash Flow	1,055	714	2,006	-208	-250	-193
Operating Cash Flow Growth	-50.54%	-64.41%	-	-	-	-
Capital Expenditures	-33	-34	-153	-117	-167	-120
Purchases of Investments	-34,263	-34,067	-28,393	-19,820	-25,869	-50,497
Proceeds from Sale of Investments	21,395	22,917	15,679	16,446	18,745	43,855
Payments for Business Acquisitions	-	-	-	-	40	-
Proceeds from Business Divestments	-	-	-	-	-	215
Other Investing Activities	227	216	-2,835	-1,366	-395	-6,181
Investing Cash Flow	-12,724	-10,968	-15,855	-4,851	-7,487	-12,689
Short-Term Debt Issued	-	-	-	-	-	92
Short-Term Debt Repaid	-	25	-254	-504	147	-
Net Short-Term Debt Issued (Repaid)	-	25	-254	-504	147	92
Long-Term Debt Issued	2,184	2,349	604	899	6	873
Long-Term Debt Repaid	-1,647	-1,762	-642	-	-43	-280
Net Long-Term Debt Issued (Repaid)	537	587	-38	899	-37	593
Repurchase of Common Stock	-1,335	-1,450	-1,014	-919	-849	-1,637
Net Common Stock Issued (Repurchased)	-1,335	-1,450	-1,014	-919	-849	-1,637
Issuance of Preferred Stock	-	-	-	-	-	293
Repurchase of Preferred Stock	-309.5	-449	-55	-	-	-
Net Preferred Stock Issued (Repurchased)	-309.5	-449	-55	-	-	293
Common Dividends Paid	-316	-314	-302	-301	-294	-296
Preferred Share Dividends Paid	-61	-61	-80	-80	-80	-79
Other Financing Activities	16,432	17,970	14,711	10,307	8,164	13,947
Financing Cash Flow	13,392	15,716	12,441	9,000	7,045	11,948
Effect of Exchange Rate Changes on Cash and Cash Equivalents	17	36	-20	23	-56	-18
Net Cash Flow	1,740	5,498	-1,428	3,964	-748	-952
Free Cash Flow	1,022	680	1,853	-325	-417	-313
Free Cash Flow Growth	50.29%	-63.30%	-	-	-	-
FCF Margin	9.03%	5.83%	14.91%	-3.11%	-3.30%	-4.11%
Free Cash Flow Per Share	3.49	2.28	5.71	-0.92	-1.10	-0.74
Levered Free Cash Flow	-846.5	-3,348	453	-763	1,633	1,738
Unlevered Free Cash Flow	-4,083	-3,422	1,457	-298.41	1,925	1,671

Updated May 7, 2026. Data Source: Fiscal.ai. Insurance template. Financial Sources.

SEC Filings: 10-K · 10-Q