MetLife 2002 Annual Report Download - page 49

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METLIFE, INC.
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
FOR THE YEARS ENDED DECEMBER 31, 2002, 2001 AND 2000
(Dollars in millions)
Accumulated Other
Comprehensive Income (Loss)
Net Foreign Minimum
Additional Treasury Unrealized Currency Pension
Common Paid-in Retained Stock Investment Translation Liability
Stock Capital Earnings at Cost (Losses) Gains Adjustment Adjustment Total
Balance at December 31, 1999************************ $— $ — $ 14,100 $ — $ (297) $ (94) $(19) $13,690
Policy credits and cash payments to eligible policyholders ** (2,958) (2,958)
Common stock issued in demutualization **************** 5 10,917 (10,922) —
Initial public offering of common stock******************* 2 3,152 3,154
Private placement of common stock ******************** 1 854 855
Unit offering***************************************** 33
Treasury stock transactions, net ************************ (613) (613)
Dividends on common stock ************************** (152) (152)
Comprehensive income:
Net loss before date of demutualization**************** (220) (220)
Net income after date of demutualization*************** 1,173 1,173
Other comprehensive income:
Unrealized investment gains, net of related offsets,
reclassification adjustments and income taxes ****** 1,472 1,472
Foreign currency translation adjustments ************* (6) (6)
Minimum pension liability adjustment **************** (9) (9)
Other comprehensive income ********************** 1,457
Comprehensive income ***************************** 2,410
Balance at December 31, 2000************************ 8 14,926 1,021 (613) 1,175 (100) (28) 16,389
Treasury stock transactions, net ************************* (1,321) (1,321)
Dividends on common stock ************************** (145) (145)
Issuance of warrants — by subsidiary ******************* 40 40
Comprehensive income:
Net income *************************************** 473 473
Other comprehensive income:
Cumulative effect of change in accounting for
derivatives, net of income taxes ****************** 22 22
Unrealized gains on derivative instruments, net of
income taxes ********************************* 24 24
Unrealized investment gains, net of related offsets,
reclassification adjustments and income taxes ****** 658 658
Foreign currency translation adjustments ************* (60) (60)
Minimum pension liability adjustment **************** (18) (18)
Other comprehensive income ********************** 626
Comprehensive income ***************************** 1,099
Balance at December 31, 2001************************ 8 14,966 1,349 (1,934) 1,879 (160) (46) 16,062
Treasury stock transactions, net ************************ 2 (471) (469)
Dividends on common stock ************************** (147) (147)
Comprehensive income:
Net income *************************************** 1,605 1,605
Other comprehensive income:
Unrealized losses on derivative instruments, net of
income taxes ********************************* (60) (60)
Unrealized investment gains, net of related offsets,
reclassification adjustments and income taxes ****** 463 463
Foreign currency translation adjustments ************* (69) (69)
Other comprehensive income ********************** 334
Comprehensive income ***************************** 1,939
Balance at December 31, 2002************************ $ 8 $14,968 $ 2,807 $(2,405) $2,282 $(229) $(46) $17,385
See accompanying notes to consolidated financial statements.
MetLife, Inc. F-5