MetLife 2009 Annual Report Download - page 210
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Year Ended December 31, 2008: Insurance
Products Retirement
Products
Corporate
Benefit
Funding
Auto
&
Home Total International
Banking,
Corporate
& Other Total Adjustments Total
Consolidated
U.S. Business
Operating Earnings
(In millions)
Revenues
Premiums . . . . . . . . . . . $16,402 $ 361 $2,683 $2,971 $22,417 $3,470 $ 27 $25,914 $ — $25,914
Universal life and
investment-type product
policy fees . . . . . . . . . 2,171 1,870 227 — 4,268 1,095 — 5,363 18 5,381
Net investment income . . . 5,787 2,365 5,874 186 14,212 1,180 808 16,200 91 16,291
Other revenues . . . . . . . . 819 168 359 38 1,384 18 184 1,586 — 1,586
Net investment gains
(losses) ........... — — — — — — — — 1,812 1,812
Total revenues . . . . . . . 25,179 4,764 9,143 3,195 42,281 5,763 1,019 49,063 1,921 50,984
Benefits and Expenses
Policyholder benefits and
claims and policyholder
dividends . . . . . . . . . . 18,183 692 4,977 1,924 25,776 3,185 46 29,007 181 29,188
Interest credited to
policyholder account
balances . . . . . . . . . . 930 1,337 2,298 — 4,565 171 7 4,743 45 4,788
Interest credited to bank
deposits . . . . . . . . . . . — — — — — — 166 166 — 166
Capitalization of DAC . . . . (849) (980) (18) (444) (2,291) (798) (3) (3,092) — (3,092)
Amortization of DAC and
VOBA . . . . . . . . . . . . . 743 1,356 29 454 2,582 381 5 2,968 521 3,489
Interest expense . . . . . . . 5 2 2 — 9 9 1,033 1,051 — 1,051
Other expenses . . . . . . . 4,196 2,065 476 794 7,531 2,079 699 10,309 24 10,333
Total benefits and
expenses . . . . . . . . . 23,208 4,472 7,764 2,728 38,172 5,027 1,953 45,152 771 45,923
Provision for income tax
expense (benefit) . . . . . 661 99 466 104 1,330 257 (495) 1,092 488 1,580
Operating earnings . . . . $ 1,310 $ 193 $ 913 $ 363 $ 2,779 $ 479 $ (439) 2,819
Adjustments to:
Total revenues . . . . . . . . 1,921
Total benefits and
expenses .......... (771)
Provision for income tax
(expense) benefit . . . . . (488)
Income (loss) from
continuing
operations, net of
income tax ....... $ 3,481 $ 3,481
At December 31, 2008: Insurance
Products Retirement
Products
Corporate
Benefit
Funding Auto
& Home Total International
Banking,
Corporate
&Other Total
U.S. Business
(In millions)
Total assets . . . . . . . . . . . . . . . . . . . . . . . $126,734 $121,387 $161,513 $5,232 $414,866 $25,891 $60,921 $501,678
Separate account assets . . . . . . . . . . . . . $ 8,290 $ 62,264 $ 45,814 $ — $116,368 $ 4,471 $ — $120,839
Separate account liabilities . . . . . . . . . . . $ 8,290 $ 62,264 $ 45,814 $ — $116,368 $ 4,471 $ — $120,839
F-126 MetLife, Inc.
MetLife, Inc.
Notes to the Consolidated Financial Statements — (Continued)