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SHARE-BASED COMPENSATION PROGRAMS (Tables) | 12 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Compensation Costs | Compensation costs for share-based payment arrangements as further described herein are as follows:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
| (in millions)
Performance Shares | $ | 22 |  |  | $ | 15 |  |  | $ | 31 |
Stock Options | — |  |  | — |  |  | 1 |
Restricted Stock Units | 288 |  |  | 278 |  |  | 296 |
Other compensation plans | 3 |  |  | 1 |  |  | — |
Total compensation expenses | $ | 313 |  |  | $ | 294 |  |  | $ | 328 |
Income Tax Benefit | $ | 68 |  |  | $ | 58 |  |  | $ | 68 |
Schedule of Weighted-Average Valuation Assumptions | The grant-date fair value of the TSR Performance Shares granted in 2024, 2023, and 2022 were measured using a Monte Carlo approach with the following weighted-average assumptions:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Weighted-average assumptions used: |  |  |  |  |
Risk-free interest rate | 4.40 | % |  | 4.31 | % |  | 1.73 | %
Annualized volatility | 32.72 | % |  | 49.10 | % |  | 47.10 | %
Schedule of Stock Option Activity | A summary of activity in the Holdings and AXA option plans during 2024 as follows:
| Options Outstanding
| EQH Shares |  |  | AXA Ordinary Shares
| Number Outstanding (in 000’s) |  | Weighted Average Exercise Price |  |  |  |  | Number Outstanding (in 000’s) |  | Weighted Average Exercise Price
Options outstanding as of beginning of period | 1,755 |  |  | $ | 21.94 |  |  |  |  |  | 380 |  |  | € | 22.56 |
Options granted | — |  |  | — |  |  |  |  |  | — |  |  | — |
Options exercised | (622) |  |  | 21.24 |  |  |  |  |  | (247) |  |  | 23.10 |
Options forfeited, net | — |  |  | — |  |  |  |  |  | — |  |  | — |
Options expired | — |  |  | — |  |  |  |  |  | — |  |  | — |
Options outstanding as of end of period | 1,133 |  |  | $ | 22.33 |  |  |  |  |  | 133 |  |  | € | 21.56 |
Aggregate intrinsic value (1) |  |  | $ | 28,143 |  |  |  |  |  |  |  | € | 1,699 |
Weighted average remaining contractual term (in years) | 4.80 |  |  |  |  |  |  | 2.55 |  |
Options exercisable at December 31, 2024 | 1,133 |  |  | $ | 22.33 |  |  |  |  |  | 133 |  |  | € | 21.56 |
Aggregate intrinsic value (1) |  |  | $ | 28,143 |  |  |  |  |  |  |  | € | 1,699 |
Weighted average remaining contractual term (in years) | 4.80 |  |  |  |  |  |  | 2.55 |  |
_______________ (1) Agg regate intrinsic value, presented in thousands, is calculated as the excess of the closing market price on December 31, 2024 of the respective underlying shares over the strike prices of the option awards. For awards with strike prices higher than market prices, intrinsic value is shown as zero.
Schedule of Share-based Compensation, Restricted Stock Units Award Activity | The following table summarizes Holdings restricted share units activity for 2024.
| Shares of Holdings Restricted Stock Units (in 000’s) |  | Weighted-Average Grant Date Fair Value |  |  |  |
Unvested, beginning of period | 2,731 |  |  | $ | 32.18 |  |  |  |  |
Granted | 1,444 |  |  | 34.08 |  |  |  |  |
Forfeited | (109) |  |  | 32.40 |  |  |  |  |
Vested | (1,371) |  |  | 31.49 |  |  |  |  |
Unvested as of December 31, 2024 | 2,695 |  |  | $ | 33.54 |  |  |  |  |
Schedule of Share-based Compensation, Performance Stock Units Award Activity | The following table summarizes Holdings performance awards activity for 2024.
| Shares of Holdings Performance Awards (in 000’s) |  | Weighted-Average Grant Date Fair Value |  |  |  |
Unvested, beginning of period | 1,313 |  |  | $ | 32.98 |  |  |  |  |
Granted | 503 |  |  | 33.79 |  |  |  |  |
Forfeited | (20) |  |  | 37.17 |  |  |  |  |
Vested | (198) |  |  | 33.13 |  |  |  |  |
Performance Adjustment (1) | (262) |  |  | $ | 33.11 |  |  |  |  |
Unvested as of December 31, 2024 | 1,336 |  |  | $ | 36.46 |  |  |  |  |
_______________ (1)Represents the difference between the target shares granted and the actual shares vested based upon the achievement level of performance measures.
Schedule of Assumptions Used | The following table discloses assumptions used to measure the Company’s pension benefit obligations and net periodic pension cost:
| December 31,
| 2024 |  | 2023
Discount rates: |  |  |
Equitable Financial QP | 5.47% |  | 4.92%
Equitable Excess Retirement Plan | 5.40% |  | 4.88%
MONY Life Retirement Income Security Plan for Employees | 5.57% |  | 5.00%
AB Qualified Retirement Plan | 5.15% |  | 5.40%
Other defined benefit plans | 5.12% - 5.46% |  | 4.74% - 5.00%
Periodic cost | 4.74% - 5.50% |  | 4.70% - 5.71%
Cash balance interest crediting rate for pre-April 1, 2012 accruals | 4.00% |  | 4.00%
Cash balance interest crediting rate for post-April 1, 2012 accruals | 5.30% |  | 2.50%
Rates of compensation increase: |  |  |
Benefit obligation | 5.94% |  | 5.91%
Periodic cost | 6.36% |  | 6.36%
Expected long-term rates of return on pension plan assets (periodic cost) | 7.00% |  | 7.00%
The following table discloses the range of discrete single equivalent discount rates and related net periodic cost at and for the years ended December 31, 2024 and 2023.
| December 31,
| 2024 |  | 2023
Discount rates: |  |  |
Benefit obligation | 5.35% - 5.54% |  | 4.87% - 4.98%
Periodic cost | 4.85% - 4.98% |  | 5.07% - 5.20%

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