SEC Filing Summary: AXA Equitable Holdings, Inc. (Form 8-K/A)
Business Context and Reporting Period
This filing is an Amendment No. 1 to a Current Report on Form 8-K, dated June 21, 2018, for AXA Equitable Holdings, Inc. The amendment corrects specific information previously furnished in the Original Form 8-K dated June 19, 2018. The financial data referenced pertains to the quarter ended March 31, 2018, and the twelve-month period ended March 31, 2018.
Key Financial Metrics
The filing does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. Instead, it references an updated Financial Supplement (Exhibit 99.2) containing corrected data. The only specific metric disclosed in the text is the Pro Forma Non-GAAP Operating Return on Equity (ROE):
- Twelve months ended March 31, 2018: 13.6%
- Year ended December 31, 2017: 12.3%
Note: Pro Forma Non-GAAP Operating ROE is not calculated in accordance with U.S. GAAP.
Material Changes and Corrections
This amendment corrects errors in the Original Financial Supplement. The specific items corrected include:
- Certain net flows and Assets Under Management (AUM) figures.
- Correction of parentheses on specific line items.
- AXA Advisors headcount figures.
- Addition of Protection Solutions Reserves line items.
- Deferred acquisition costs rollforward figures.
- Percentage change columns throughout the document.
- Various typographical and rounding errors.
Guidance, Outlook, and Risks
The filing does not contain forward-looking guidance, management commentary on future outlook, or specific risk factors beyond the standard disclosure that the information provided is not deemed "filed" under Section 18 of the Exchange Act. The document serves strictly to rectify prior disclosures regarding the first quarter of 2018 results.
Investor Verification Checklist
- Verify the corrected net flows and AUM figures in the updated Financial Supplement (Exhibit 99.2).
- Review the reconciliation of Pro Forma Non-GAAP Operating ROE to U.S. GAAP measures provided in the exhibit.
- Confirm the updated headcount for AXA Advisors.
- Check the corrected deferred acquisition costs rollforward and Protection Solutions Reserves.