MetLife 2010 Annual Report Download - page 229

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:
2010 2009 2008
Years Ended December 31,
(In millions, except share and per share data)
Weighted Average Shares:
Weighted average common stock outstanding for basic earnings per
commonshare(1) ................................... 882,436,532 818,462,150 735,184,337
Incremental common shares from assumed:
Stockpurchasecontractsunderlyingcommonequityunits(2) ........ — — 2,043,553
Exerciseorissuanceofstock-basedawards(3)................. 7,131,346 — 7,557,540
Weighted average common stock outstanding for diluted earnings per
commonshare(1).................................... 889,567,878 818,462,150 744,785,430
Income (Loss) from Continuing Operations:
Income(loss)fromcontinuingoperations,netofincometax........... $ 2,777 $ (2,319) $ 3,479
Less: Income (loss) from continuing operations, net of income tax,
attributabletononcontrollinginterests...................... (4) (32) (25)
Less:Preferredstockdividends........................... 122 122 125
Income (loss) from continuing operations, net of income tax, available to
MetLife,Inc.’scommonshareholders ...................... $ 2,659 $ (2,409) $ 3,379
Basic ........................................... $ 3.01 $ (2.94) $ 4.60
Diluted........................................... $ 2.99 $ (2.94) $ 4.54
Income (Loss) from Discontinued Operations:
Income (loss) from discontinued operations, net of income tax . ........ $ 9 $ 41 $ (201)
Less: Income (loss) from discontinued operations, net of income tax,
attributabletononcontrollinginterests...................... — — 94
Income (loss) from discontinued operations, net of income tax, available to
MetLife,Inc.’scommonshareholders........................ $ 9 $ 41 $ (295)
Basic ........................................... $ 0.01 $ 0.05 $ (0.41)
Diluted........................................... $ 0.01 $ 0.05 $ (0.40)
Net Income (Loss):
Netincome(loss) ..................................... $ 2,786 $ (2,278) $ 3,278
Less: Net income (loss) attributable to noncontrolling interests ........ (4) (32) 69
Less:Preferredstockdividends........................... 122 122 125
Net income (loss) available to MetLife, Inc.’s common shareholders . . . . . . $ 2,668 $ (2,368) $ 3,084
Basic ........................................... $ 3.02 $ (2.89) $ 4.19
Diluted........................................... $ 3.00 $ (2.89) $ 4.14
(1) For purposes of the earnings per common share calculation, the Convertible Preferred Stock is assumed converted into shares of
common stock for both basic and diluted weighted average shares. See Note 18 for a description of the Convertible Preferred Stock.
(2) See Note 14 for a description of the Company’s common equity units.
(3) For the year ended December 31, 2009, 4,213,700 shares related to the assumed exercise or issuance of stock-based awards have
been excluded from the calculation of diluted earnings per common share as these assumed shares are anti-dilutive.
F-140 MetLife, Inc.
MetLife, Inc.
Notes to the Consolidated Financial Statements — (Continued)