MetLife 2007 Annual Report Download - page 169

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19. Other Expenses
Information on other expenses is as follows:
2007 2006 2005
Years Ended December 31,
(In millions)
Compensation..................................................... $ 3,556 $ 3,426 $3,217
Commissions ..................................................... 4,114 3,801 3,510
Interestanddebtissuecosts........................................... 1,116 900 659
AmortizationofDACandVOBA.......................................... 2,776 2,422 2,450
CapitalizationofDAC ................................................ (3,892) (3,589) (3,604)
Rent,netofsubleaseincome........................................... 309 287 296
Minorityinterest.................................................... 240 234 154
Insurancetax ..................................................... 760 712 530
Other........................................................... 2,694 2,590 2,052
Totalotherexpenses............................................... $11,673 $10,783 $9,264
20. Earnings Per Common Share
The following table 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:
2007 2006 2005
Years Ended December 31,
(In millions, except share and per share data)
Weighted average common stock outstanding for basic earnings per
common share . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 744,153,514 761,105,024 749,022,816
Incremental common shares from assumed:
Stock purchase contracts underlying common equity units(1) . . . . . . . . . 7,138,900 1,416,134 —
Exercise or issuance of stock-based awards. . . . . . . . . . . . . . . . . . . . 10,971,585 8,182,938 6,313,540
Weighted average common stock outstanding for diluted earnings per
common share . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 762,263,999 770,704,096 755,336,356
Earnings per common share before preferred stock dividends:
Income from continuing operations ...................... $ 4,280 $ 3,071 $ 3,071
Basic............................................ $ 5.75 $ 4.03 $ 4.10
Diluted........................................... $ 5.62 $ 3.99 $ 4.06
Income from discontinued operations, net of income tax . . . . . . . $ 37 $ 3,222 $ 1,643
Basic............................................ $ 0.05 $ 4.24 $ 2.19
Diluted........................................... $ 0.04 $ 4.18 $ 2.18
Net income ........................................ $ 4,317 $ 6,293 $ 4,714
Basic............................................ $ 5.80 $ 8.27 $ 6.29
Diluted........................................... $ 5.66 $ 8.17 $ 6.24
Earnings per common share after preferred stock dividends:
Income from continuing operations ...................... $ 4,280 $ 3,071 $ 3,071
Preferredstockdividends................................ 137 134 63
Income from continuing operations available to common
shareholders ..................................... $ 4,143 $ 2,937 $ 3,008
Basic............................................ $ 5.57 $ 3.85 $ 4.02
Diluted........................................... $ 5.44 $ 3.81 $ 3.98
Net income ........................................ $ 4,317 $ 6,293 $ 4,714
Preferredstockdividends................................ 137 134 63
Net income available to common shareholders .................. $ 4,180 $ 6,159 $ 4,651
Basic............................................ $ 5.62 $ 8.09 $ 6.21
Diluted........................................... $ 5.48 $ 7.99 $ 6.16
(1) See Note 13 for a description of the Company’s common equity units.
F-73MetLife, Inc.
MetLife, Inc.
Notes to Consolidated Financial Statements — (Continued)