MetLife 2001 Annual Report Download - page 43

Download and view the complete annual report

Please find page 43 of the 2001 MetLife annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 81

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81

METLIFE, INC.
CONSOLIDATED STATEMENTS OF INCOME
FOR THE YEARS ENDED DECEMBER 31, 2001, 2000 and 1999
(Dollars in millions, except per share data)
2001 2000 1999
REVENUES
Premiums************************************************************************************** $17,212 $16,317 $12,088
Universal life and investment-type product policy fees ************************************************* 1,889 1,820 1,433
Net investment income ************************************************************************** 11,923 11,768 9,816
Other revenues ********************************************************************************* 1,507 2,229 1,861
Net investment losses (net of amounts allocable to other accounts of $(134), $(54) and $(67),
respectively)********************************************************************************** (603) (390) (70)
Total revenues ************************************************************************** 31,928 31,744 25,128
EXPENSES
Policyholder benefits and claims (excludes amounts directly related to net investment losses of $(159),
$41 and $(21), respectively) ******************************************************************** 18,454 16,893 13,100
Interest credited to policyholder account balances **************************************************** 3,084 2,935 2,441
Policyholder dividends *************************************************************************** 2,086 1,919 1,690
Payments to former Canadian policyholders ********************************************************* — 327 —
Demutualization costs**************************************************************************** — 230 260
Other expenses (excludes amounts directly related to net investment losses of $25, $(95) and $(46),
respectively)********************************************************************************** 7,565 8,024 6,462
Total expenses ************************************************************************* 31,189 30,328 23,953
Income before provision for income taxes *********************************************************** 739 1,416 1,175
Provision for income taxes************************************************************************ 266 463 558
Net income ************************************************************************************ $ 473 $ 953 $ 617
Net income after April 7, 2000 (date of demutualization) (Note 19) ************************************** $ 1,173
Net income per share
Basic *************************************************************************************** $ 0.64 $ 1.52
Diluted ************************************************************************************** $ 0.62 $ 1.49
Cash dividends per share ************************************************************************ $ 0.20 $ 0.20
See accompanying notes to consolidated financial statements.
MetLife, Inc.
F-4