MetLife 2003 Annual Report Download - page 5

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At December 31,
2003 2002 2001 2000 1999
(Dollars in millions)
Balance Sheet Data
Assets:
General account assets****************************************** $251,085 $217,733 $194,256 $183,912 $160,291
Separate account assets***************************************** 75,756 59,693 62,714 70,250 64,941
Total assets ************************************************** $326,841 $277,426 $256,970 $254,162 $225,232
Liabilities:
Life and health policyholder liabilities(10) **************************** $176,628 $162,569 $148,395 $140,040 $122,637
Property and casualty policyholder liabilities(10) ********************** 2,943 2,673 2,610 2,559 2,318
Short-term debt ************************************************ 3,642 1,161 355 1,085 4,180
Long-term debt************************************************* 5,703 4,425 3,628 2,400 2,494
Other liabilities ************************************************** 41,020 28,255 21,950 20,349 14,972
Separate account liabilities *************************************** 75,756 59,693 62,714 70,250 64,941
Total liabilities************************************************* 305,692 258,776 239,652 236,683 211,542
Company-obligated mandatorily redeemable securities of subsidiary trusts** — 1,265 1,256 1,090 —
Stockholders’ Equity:
Common stock, at par value(11) ********************************** 8888—
Additional paid-in capital(11) ************************************** 14,991 14,968 14,966 14,926 —
Retained earnings(11)******************************************** 4,193 2,807 1,349 1,021 14,100
Treasury stock, at cost(11) *************************************** (835) (2,405) (1,934) (613) —
Accumulated other comprehensive income (loss)*********************** 2,792 2,007 1,673 1,047 (410)
Total stockholders’ equity*************************************** 21,149 17,385 16,062 16,389 13,690
Total liabilities and stockholders’ equity *************************** $326,841 $277,426 $256,970 $254,162 $225,232
At or for the Years Ended December 31,
2003 2002 2001 2000 1999
(Dollars in millions, except per share data)
Other Data
Net income ****************************************************** $ 2,217 $ 1,605 $ 473 $ 953 $ 617
Return on equity(12)*********************************************** 13.1% 10.8% 3.2% 6.5% 4.5%
Total assets under management(13)********************************** $350,235 $299,187 $282,486 $301,325 $373,612
Income from Continuing Operations Available to Common
Shareholders Per Share Data(14)
Basic earnings per share ******************************************* $ 2.60 $ 1.61 $ 0.49 $ 1.42 N/A
Diluted earnings per share****************************************** $ 2.57 $ 1.56 $ 0.48 $ 1.40 N/A
Income from Discontinued Operations Per Share Data(14)
Basic earnings per share ******************************************* $ 0.41 $ 0.67 $ 0.14 $ 0.10 N/A
Diluted earnings per share****************************************** $ 0.40 $ 0.65 $ 0.14 $ 0.09 N/A
Cumulative Effect of Change in Accounting Per Share Data(14)
Basic earnings per share ******************************************* $ (0.04) $ — $ — $ — N/A
Diluted earnings per share****************************************** $ (0.03) $ — $ — $ — N/A
Net Income Available to Common Shareholders Per Share Data(14)
Basic earnings per share ******************************************* $ 2.98 $ 2.28 $ 0.64 $ 1.52 N/A
Diluted earnings per share****************************************** $ 2.94 $ 2.20 $ 0.62 $ 1.49 N/A
Dividends Declared Per Share ************************************* $ 0.23 $ 0.21 $ 0.20 $ 0.20 N/A
(1) In accordance with Statement of Financial Accounting Standards (‘‘SFAS’’) No. 144, Accounting for the Impairment or Disposal of Long-Lived
Assets, income related to real estate sold or classified as held-for-sale for transactions initiated on or after January 1, 2002 is presented as
discontinued operations. The following table presents the components of income from discontinued operations:
For the Years Ended December 31,
2003 2002 2001 2000 1999
(Dollars in millions)
Net investment income ******************************************* $ 52 $ 160 $ 169 $ 159 $ 128
Net investment gains (losses) ************************************** 421 582 — — —
Total revenues ************************************************* 473 742 169 159 128
Interest expense ************************************************* 1 1———
Provision for income taxes***************************************** 172 270 62 58 47
Income from discontinued operations, net of income taxes************ $ 300 $ 471 $ 107 $ 101 $ 81
MetLife, Inc.
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