MetLife 2000 Annual Report Download - page 35

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METLIFE, INC.
CONSOLIDATED STATEMENTS OF INCOME
FOR THE YEARS ENDED DECEMBER 31, 2000, 1999 and 1998
(Dollars in millions, except per share data)
2000 1999 1998
REVENUES
Premiums************************************************************************************** $16,317 $12,088 $11,503
Universal life and investment-type product policy fees ************************************************* 1,820 1,433 1,360
Net investment income ************************************************************************** 11,768 9,816 10,228
Other revenues ********************************************************************************* 2,432 2,154 1,994
Net investment (losses) gains (net of amounts allocable to other accounts of $(54), $(67) and $608,
respectively)********************************************************************************** (390) (70) 2,021
Total revenues************************************************************************** 31,947 25,421 27,106
EXPENSES
Policyholder benefits and claims (excludes amounts directly related to net investment gains and losses of $41,
$(21) and $368, respectively) ******************************************************************* 16,893 13,100 12,638
Interest credited to policyholder account balances **************************************************** 2,935 2,441 2,711
Policyholder dividends *************************************************************************** 1,919 1,690 1,651
Payments to former Canadian policyholders ********************************************************* 327 — —
Demutualization costs**************************************************************************** 230 260 6
Other expenses (excludes amounts directly related to net investment and losses gains of $(95), $(46) and
$240, respectively) **************************************************************************** 8,227 6,755 8,019
Total expenses ************************************************************************* 30,531 24,246 25,025
Income before provision for income taxes *********************************************************** 1,416 1,175 2,081
Provision for income taxes************************************************************************ 463 558 738
Net income ************************************************************************************ $ 953 $ 617 $ 1,343
Net income after April 7, 2000 (date of demutualization) (Note 17) ************************************** $ 1,173
Net income per share
Basic *************************************************************************************** $ 1.52
Diluted ************************************************************************************** $ 1.49
Cash dividends per share ************************************************************************ $ 0.20
See accompanying notes to consolidated financial statements.
MetLife, Inc.
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