MetLife 2008 Annual Report Download - page 217

Set forth in the tables below is certain financial information with respect to the Company’s segments, as well as Corporate & Other, for
the years ended December 31, 2008, 2007 and 2006. The accounting policies of the segments are the same as those of the Company,
except for the method of capital allocation and the accounting for gains (losses) from intercompany sales, which are eliminated in
consolidation. The Company allocates equity to each segment based upon the economic capital model that allows the Company to
effectively manage its capital. The Company evaluates the performance of each segment based upon net income excluding net investment
gains (losses), net of income tax, adjustments related to net investment gains (losses), net of income tax, the impact from the cumulative
effect of changes in accounting, net of income tax and discontinued operations, other than discontinued real estate, net of income tax,
less preferred stock dividends. The Company allocates certain non-recurring items, such as expenses associated with certain legal
proceedings, to Corporate & Other.
For the Year Ended
December 31, 2008 Institutional Individual International Auto & Home Corporate & Other Total
(In millions)
Statement of Income:
Revenues
Premiums .............................. $ 14,964 $ 4,481 $ 3,470 $2,971 $ 28 $ 25,914
Universal life and investment-type product policy fees . . 886 3,400 1,095 — — 5,381
Net investment income . . . . . . . . . . . . . . . . . . . . . . 7,535 6,509 1,249 186 817 16,296
Otherrevenues........................... 775 571 18 38 184 1,586
Net investment gains (losses) . . . . . . . . . . . . . . . . . . 168 665 167 (135) 947 1,812
Total revenues . . . . . . . . . . . . . . . . . . . . . . . . . . 24,328 15,626 5,999 3,060 1,976 50,989
Expenses
Policyholder benefits and claims . . . . . . . . . . . . . . . . 16,525 5,779 3,166 1,919 48 27,437
Interest credited to policyholder account balances . . . . 2,581 2,028 171 — 7 4,787
Policyholderdividends ...................... — 1,739 7 5 — 1,751
Other expenses . . . . . . . . . . . . . . . . . . . . . . . . . . 2,408 5,143 1,671 804 1,898 11,924
Total expenses . . . . . . . . . . . . . . . . . . . . . . . . . . 21,514 14,689 5,015 2,728 1,953 45,899
Income from continuing operations before provision for
incometax ............................ 2,814 937 984 332 23 5,090
Provisionforincometax ..................... 955 307 404 57 (143) 1,580
Income from continuing operations . . . . . . . . . . . . . . 1,859 630 580 275 166 3,510
Income (loss) from discontinued operations, net of
incometax ............................ 3 (11) — — (293) (301)
Netincome ............................. 1,862 619 580 275 (127) 3,209
Preferredstockdividends.................... — — — — 125 125
Net income available to common shareholders . . . . . . $ 1,862 $ 619 $ 580 $ 275 $ (252) $ 3,084
Balance Sheet:
Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $195,191 $214,476 $25,891 $5,232 $60,888 $501,678
DACandVOBA........................... $ 1,013 $ 16,505 $ 2,436 $ 183 $ 7 $ 20,144
Goodwill ............................... $ 1,051 $ 2,957 $ 373 $ 157 $ 470 $ 5,008
Separate account assets . . . . . . . . . . . . . . . . . . . . $ 46,912 $ 69,456 $ 4,471 $ — $ — $120,839
Policyholder liabilities . . . . . . . . . . . . . . . . . . . . . . . $133,816 $123,610 $16,122 $3,126 $12,471 $289,145
Separate account liabilities . . . . . . . . . . . . . . . . . . . $ 46,912 $ 69,456 $ 4,471 $ — $ — $120,839
F-94 MetLife, Inc.
MetLife, Inc.
Notes to the Consolidated Financial Statements — (Continued)