MetLife 2008 Annual Report Download - page 184

Information regarding the closed block policyholder dividend obligation is as follows:
2008 2007 2006
Years Ended December 31,
(In millions)
BalanceatJanuary1,................................................... $789 $1,063 $1,607
Impactonrevenues,netofexpensesandincometax .............................. — — (114)
Changeinunrealizedinvestmentandderivativegains(losses)......................... (789) (274) (430)
BalanceatDecember31, ................................................ $ — $ 789 $1,063
Information regarding the closed block revenues and expenses is as follows:
2008 2007 2006
Years Ended December 31,
(In millions)
Revenues
Premiums ...................................................... $2,787 $2,870 $2,959
Netinvestmentincomeandotherrevenues................................. 2,248 2,350 2,355
Netinvestmentgains(losses).......................................... (84) 28 (130)
Totalrevenues.................................................. 4,951 5,248 5,184
Expenses
Policyholderbenefitsandclaims........................................ 3,393 3,457 3,474
Policyholderdividends .............................................. 1,498 1,492 1,479
Changeinpolicyholderdividendobligation ................................. — — (114)
Otherexpenses................................................... 217 231 247
Totalexpenses.................................................. 5,108 5,180 5,086
Revenues,netofexpensesbeforeincometax............................... (157) 68 98
Incometax...................................................... (68) 21 34
Revenues, net of expenses and income tax from continuing operations . . . . . . . . . . . . . . . (89) 47 64
Revenues, net of expenses and income tax from discontinued operations . . . . . . . . . . . . . . . . . . — — 1
Revenues, net of expenses, income taxes and discontinued operations . . . . . . . . . . . . . . $ (89) $ 47 $ 65
The change in the maximum future earnings of the closed block is as follows:
2008 2007 2006
Years Ended December 31,
(In millions)
BalanceatDecember31,........................................... $4,518 $4,429 $4,480
Less:
Cumulative effect of a change in accounting principle, net of income tax . . . . . . . . . . . — (4) —
BalanceatJanuary1, ............................................. 4,429 4,480 4,545
Changeduringyear............................................... $ 89 $ (47) $ (65)
MLIC charges the closed block with federal income taxes, state and local premium taxes, and other additive state or local taxes, as well
as investment management expenses relating to the closed block as provided in the Plan. MLIC also charges the closed block for
expenses of maintaining the policies included in the closed block.
F-61MetLife, Inc.
MetLife, Inc.
Notes to the Consolidated Financial Statements — (Continued)