MetLife 2006 Annual Report Download - page 155
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19. Earnings Per Common Share
The following presents the weighted average shares used in calculating basic earnings per common share and those used in calculating
diluted earnings per common share for each income category presented below:
2006 2005 2004
Years Ended December 31,
(In millions, except share and per share data)
Weighted average common stock outstanding for basic earnings per
common share . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 761,105,024 749,022,816 750,924,982
Incremental common shares from assumed:
Stock purchase contracts underlying common equity units . . . . . . . . . . 1,416,134 — —
Exercise or issuance of stock-based awards. . . . . . . . . . . . . . . . . . . . 8,182,938 6,313,540 4,053,813
Weighted average common stock outstanding for diluted earnings per
common share . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 770,704,096 755,336,356 754,978,795
Earnings per common share before preferred stock dividends:
Income from continuing operations ...................... $ 3,105 $ 3,078 $ 2,578
Basic............................................ $ 4.08 $ 4.11 $ 3.43
Diluted........................................... $ 4.03 $ 4.08 $ 3.41
Income from discontinued operations, net of income tax . . . . . . . $ 3,188 $ 1,636 $ 266
Basic............................................ $ 4.19 $ 2.18 $ 0.35
Diluted........................................... $ 4.14 $ 2.17 $ 0.35
Net income ........................................ $ 6,293 $ 4,714 $ 2,758
Basic............................................ $ 8.27 $ 6.29 $ 3.67
Diluted........................................... $ 8.17 $ 6.24 $ 3.65
Earnings per common share after preferred stock dividends:
Income from continuing operations ...................... $ 3,105 $ 3,078 $ 2,578
Preferredstockdividends................................ 134 63 —
Income from continuing operations available to common
shareholders ..................................... $ 2,971 $ 3,015 $ 2,578
Basic............................................ $ 3.90 $ 4.03 $ 3.43
Diluted........................................... $ 3.85 $ 3.99 $ 3.41
Net income ........................................ $ 6,293 $ 4,714 $ 2,758
Preferredstockdividends................................ 134 63 —
Net income available to common shareholders .............. $ 6,159 $ 4,651 $ 2,758
Basic............................................ $ 8.09 $ 6.21 $ 3.67
Diluted........................................... $ 7.99 $ 6.16 $ 3.65
(1) See Note 12 for a description of the Company’s common equity units.
F-72 MetLife, Inc.
METLIFE, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)