AXA FINANCIAL, INC.
RECONCILIATION OF AXA US LIFE & SAVINGS CONTRIBUTION TO AXA FRENCH GAAP
GROSS REVENUES WITH CONSOLIDATED AXA FINANCIAL, INC. PREMIUMS UNDER US GAAP
(in millions)
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AXF AXF MONY AXF & MONY
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YEARS ENDED DECEMBER 31,
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2003 2004
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CONTRIBUTION TO AXA FRENCH GAAP GROSS REVENUES PER AXA PRESS RELEASE IN EURO
Gross Premiums 13,357 11,447 780 12,227
Other Revenues (A) 375 454 200 653
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TOTAL CONTRIBUTION TO AXA FRENCH GAAP GROSS REVENUES 13,732 11,901 980 12,880
Average exchange rate US$1.00 = 0.884 0.804 0.804 0.804
IN US$ 15,534 14,802 1,218 16,020
Reconciling Items:
Less: Other Revenues (A) (424) (564) (248) (812)
Less: Deposits from Universal life and investment-type product policy fee income (B) (13,949) (13,062) (506) (13,568)
Less: Reinsurance ceded premiums (C) (262) (268) (97) (365)
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Total Reconciling items (14,635) (13,894) (851) (14,745)
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CONSOLIDATED AXA FINANCIAL, INC. US GAAP PREMIUMS 899 908 367 1,275
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(A) Represents fees received from servicing and advisory business and
fees on the sales of Mutual Funds reported within Commissions, Fees &
Other Income in the US GAAP Statement of Earnings
(B) Reflected as an increase to Policyholder Account Balances in the US
GAAP Balance Sheet
(C) Reflected as a reduction to Premiums in the US GAAP Statement of Earnings