MetLife 2003 Annual Report Download - page 91

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METLIFE, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
Auto & Asset Corporate
At or for the Year Ended December 31, 2003 Institutional Individual Home International Reinsurance Management & Other Total
(Dollars in millions)
Premiums *********************************** $ 9,093 $ 4,344 $2,908 $1,678 $ 2,668 $ — $ (18) $ 20,673
Universal life and investment-type product policy
fees ************************************** 635 1,589 — 272 — — — 2,496
Net investment income ************************ 4,038 6,201 158 502 473 66 198 11,636
Other revenues******************************* 592 407 32 80 49 143 39 1,342
Net investment gains (losses) ******************* (204) (130) (15) 4 31 9 (53) (358)
Policyholder benefits and claims***************** 9,932 5,183 2,139 1,454 2,136 — 4 20,848
Interest credited to policyholder account balances** 915 1,793 — 143 184 — — 3,035
Policyholder dividends ************************* 198 1,700 1 55 21 — — 1,975
Other expenses ****************************** 1,784 2,880 756 659 740 182 300 7,301
Income (loss) from continuing operations before
provision (benefit) for income taxes ************ 1,325 855 187 225 140 36 (138) 2,630
Income from discontinued operations, net of
income taxes ****************************** 30 30 — — — — 240 300
Cumulative effect of change in accounting, net of
income taxes ****************************** (26) — — — — — — (26)
Net income ********************************** 849 601 157 208 92 22 288 2,217
Total assets********************************** 113,743 165,774 4,698 9,935 12,833 302 19,556 326,841
Deferred policy acquisition costs **************** 739 8,817 180 1,046 2,160 — 1 12,943
Goodwill, net********************************* 59 206 157 85 100 18 3 628
Separate account assets ********************** 35,632 39,619 — 504 13 — (12) 75,756
Policyholder liabilities ************************** 61,599 100,278 2,943 7,179 9,783 — (2,211) 179,571
Separate account liabilities ********************* 35,632 39,619 — 504 13 — (12) 75,756
Auto & Asset Corporate
At or for the Year Ended December 31, 2002 Institutional Individual Home International Reinsurance Management & Other Total
(Dollars in millions)
Premiums *********************************** $ 8,245 $ 4,507 $2,828 $1,511 $ 2,005 $ — $ (19) $ 19,077
Universal life and investment-type product policy
fees ************************************** 624 1,379 — 144 — — — 2,147
Net investment income ************************ 3,918 6,244 177 461 421 59 (19) 11,261
Other revenues******************************* 609 418 26 14 43 166 56 1,332
Net investment gains (losses) ******************* (494) (144) (46) (9) 2 (4) (56) (751)
Policyholder benefits and claims***************** 9,339 5,220 2,019 1,388 1,554 — 3 19,523
Interest credited to policyholder account balances** 932 1,793 — 79 146 — — 2,950
Policyholder dividends ************************* 115 1,770 — 35 22 — — 1,942
Other expenses ****************************** 1,531 2,629 793 507 622 211 722 7,015
Income (loss) from continuing operations before
provision (benefit) for income taxes ************ 985 992 173 112 127 10 (763) 1,636
Income from discontinued operations, net of
income taxes ****************************** 121 199 — — — — 151 471
Net income (loss) ***************************** 759 826 132 84 84 6 (286) 1,605
Total assets(1)******************************** 98,234 145,152 4,540 8,301 9,924 190 11,085 277,426
Deferred policy acquisition costs **************** 608 8,521 175 945 1,477 — 1 11,727
Goodwill, net********************************* 62 223 155 193 96 18 3 750
Separate account assets ********************** 31,935 27,457 — 307 11 — (17) 59,693
Policyholder liabilities ************************** 55,497 95,813 2,673 5,883 7,387 — (2,011) 165,242
Separate account liabilities ********************* 31,935 27,457 — 307 11 — (17) 59,693
(1) These balances reflect the allocation of capital using the Risk-Based Capital methodology, which differs from the original presentation of GAAP equity
included in MetLife, Inc.’s 2002 Annual Report on Form 10-K.
MetLife, Inc.
F-46