MetLife 2004 Annual Report Download - page 91

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METLIFE, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
Other Comprehensive Income
The following table sets forth the reclassification adjustments required for the years ended December 31, 2004, 2003 and 2002 in other
comprehensive income (loss) that are included as part of net income for the current year that have been reported as a part of other comprehensive
income (loss) in the current or prior year:
Years Ended December 31,
2004 2003 2002
(Dollars in millions)
Holding gains on investments arising during the year************************************************** $ 513 $1,497 $ 3,387
Income tax effect of holding gains ***************************************************************** 74 (562) (1,064)
Reclassification adjustments:
Recognized holding (gains) losses included in current year income ************************************ (218) 382 704
Amortization of premiums and accretion of discounts associated with investments *********************** (94) (168) (526)
Income tax effect ***************************************************************************** (45) (81) (56)
Allocation of holding losses on investments relating to other policyholder amounts ************************* (182) (606) (2,977)
Income tax effect of allocation of holding losses to other policyholder amounts **************************** (26) 228 935
Net unrealized investment gains (losses) ************************************************************ 22 690 403
Foreign currency translation adjustment ************************************************************* 144 177 (69)
Minimum pension liability adjustment *************************************************************** (2) (82) —
Other comprehensive income (losses) ************************************************************** $ 164 $ 785 $ 334
13. Other Expenses
Other expenses were comprised of the following:
Years Ended December 31,
2004 2003 2002
(Dollars in millions)
Compensation******************************************************************************** $ 2,874 $ 2,707 $ 2,499
Commissions ******************************************************************************** 2,876 2,474 2,000
Interest and debt issue costs ******************************************************************* 408 478 403
Amortization of policy acquisition costs *********************************************************** 1,905 1,787 1,644
Capitalization of policy acquisition costs ********************************************************** (3,101) (2,792) (2,340)
Rent, net of sublease income ******************************************************************* 264 254 295
Minority interest******************************************************************************* 152 110 73
Other *************************************************************************************** 2,383 2,073 2,239
Total other expenses ************************************************************************ $ 7,761 $ 7,091 $ 6,813
MetLife, Inc.
F-48