MetLife 2006 Annual Report Download - page 156

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20. Quarterly Results of Operations (Unaudited)
The unaudited quarterly results of operations for 2006 and 2005 are summarized in the table below:
March 31, June 30, September 30, December 31,
Three Months Ended
(In millions, except per share data)
2006
Totalrevenues ............................................. $11,565 $11,387 $12,551 $12,893
Totalexpenses............................................. $10,539 $10,573 $11,237 $11,826
Incomefromcontinuingoperations................................ $ 738 $ 604 $ 957 $ 806
Incomefromdiscontinuedoperations,netofincometax.................. $ 9 $ 46 $ 76 $ 3,057
Income before cumulative effect of a change in accounting, net of income tax . . . . $ 747 $ 650 $ 1,033 $ 3,863
Netincomeavailabletocommonshareholders ........................ $ 714 $ 617 $ 999 $ 3,829
Basic earnings per share:
Income from continuing operations available to common shareholders, per
commonshare.......................................... $ 0.93 $ 0.75 $ 1.21 $ 1.02
Income from discontinued operations, net of income tax, per common share . . . $ 0.01 $ 0.06 $ 0.10 $ 4.02
Income before cumulative effect of a change in accounting, net of income tax,
percommonshare ....................................... $ 0.98 $ 0.85 $ 1.35 $ 5.09
Net income available to common shareholders, per common share . . . . . . . . . . $ 0.94 $ 0.81 $ 1.31 $ 5.04
Diluted earnings per share:
Income from continuing operations available to common shareholders, per
commonshare.......................................... $ 0.92 $ 0.74 $ 1.19 $ 1.00
Income from discontinued operations, net of income tax, per common share . . . $ 0.01 $ 0.06 $ 0.10 $ 3.95
Income before cumulative effect of a change in accounting, net of income tax,
percommonshare ....................................... $ 0.97 $ 0.84 $ 1.34 $ 5.00
Net income available to common shareholders, per common share . . . . . . . . . . $ 0.93 $ 0.80 $ 1.29 $ 4.95
2005
Totalrevenues ............................................. $10,236 $10,935 $11,988 $11,524
Totalexpenses............................................. $ 9,107 $ 9,500 $11,027 $10,743
Incomefromcontinuingoperations................................ $ 785 $ 992 $ 723 $ 578
Incomefromdiscontinuedoperations,netofincometax.................. $ 202 $ 1,253 $ 50 $ 131
Income before cumulative effect of a change in accounting, net of income tax . . . . $ 987 $ 2,245 $ 773 $ 709
Netincomeavailabletocommonshareholders ........................ $ 987 $ 2,245 $ 742 $ 677
Basic earnings per share:
Income from continuing operations available to common shareholders, per
commonshare.......................................... $ 1.07 $ 1.35 $ 0.91 $ 0.72
Income from discontinued operations, net of income tax, per common share . . . $ 0.28 $ 1.70 $ 0.07 $ 0.17
Income before cumulative effect of a change in accounting, net of income tax,
percommonshare ....................................... $ 1.34 $ 3.05 $ 1.02 $ 0.93
Net income available to common shareholders, per common share . . . . . . . . . . $ 1.34 $ 3.05 $ 0.98 $ 0.89
Diluted earnings per share:
Income from continuing operations available to common shareholders, per
commonshare.......................................... $ 1.06 $ 1.33 $ 0.90 $ 0.71
Income from discontinued operations, net of income tax, per common share . . . $ 0.27 $ 1.69 $ 0.07 $ 0.17
Income before cumulative effect of a change in accounting, net of income tax,
percommonshare ....................................... $ 1.33 $ 3.02 $ 1.01 $ 0.92
Net income available to common shareholders, per common share . . . . . . . . . . $ 1.33 $ 3.02 $ 0.97 $ 0.88
21. Business Segment Information
The Company is a leading provider of insurance and other financial services with operations throughout the United States and the
regions of Latin America, Europe, and Asia Pacific. The Company’s business is divided into five operating segments: Institutional,
Individual, Auto & Home, International and Reinsurance, as well as Corporate & Other. These segments are managed separately because
they either provide different products and services, require different strategies or have different technology requirements.
In connection with the Travelers acquisition, management utilized its economic capital model to evaluate the deployment of capital
based upon the unique and specific nature of the risks inherent in the Company’s existing and newly acquired businesses and has adjusted
such allocations based upon this model.
F-73MetLife, Inc.
METLIFE, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)