MetLife 2010 Annual Report Download - page 232

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Year Ended December 31, 2010 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................ $17,200 $ 875 $1,938 $2,923 $22,936 $4,447 $ 11 $27,394 $ — $27,394
Universal life and investment-type
productpolicyfees......... 2,247 2,234 226 — 4,707 1,329 — 6,036 1 6,037
Netinvestmentincome........ 6,068 3,395 4,954 209 14,626 1,703 992 17,321 294 17,615
Otherrevenues ............ 761 220 246 22 1,249 35 1,044 2,328 — 2,328
Net investment gains (losses) . . . . — — — — — — — — (392) (392)
Net derivative gains (losses) . . . . . — — — — — — — — (265) (265)
Totalrevenues............ 26,276 6,724 7,364 3,154 43,518 7,514 2,047 53,079 (362) 52,717
Expenses
Policyholder benefits and claims
and policyholder dividends . . . . 19,075 1,879 4,041 2,021 27,016 3,723 (14) 30,725 306 31,031
Interest credited to policyholder
accountbalances.......... 963 1,612 1,445 — 4,020 683 — 4,703 222 4,925
Interest credited to bank
deposits ............... — — — — — — 137 137 — 137
CapitalizationofDAC......... (841) (1,067) (19) (448) (2,375) (968) — (3,343) — (3,343)
Amortization of DAC and VOBA . . . 966 724 16 439 2,145 537 1 2,683 118 2,801
Interest expense on debt . . . . . . 1 3 6 — 10 3 1,126 1,139 411 1,550
Otherexpenses............ 4,080 2,437 460 769 7,746 2,538 1,155 11,439 219 11,658
Totalexpenses ........... 24,244 5,588 5,949 2,781 38,562 6,516 2,405 47,483 1,276 48,759
Provision for income tax expense
(benefit) ............... 711 397 495 73 1,676 206 (300) 1,582 (401) 1,181
Operating earnings ........ $ 1,321 $ 739 $ 920 $ 300 $ 3,280 $ 792 $ (58) 4,014
Adjustments to:
Totalrevenues............ (362)
Totalexpenses ........... (1,276)
Provision for income tax
(expense)benefit......... 401
Income (loss) from continuing
operations, net of income
tax .................. $ 2,777 $ 2,777
At December 31, 2010: Insurance
Products Retirement
Products
Corporate
Benefit
Funding Auto
& Home Total International
Banking,
Corporate
&Other Total
U.S. Business
(In millions)
Total assets . . . . . . . . . . . . . . . . . . . . . . . $141,366 $177,056 $172,918 $5,541 $496,881 $164,995 $69,030 $730,906
Separate account assets . . . . . . . . . . . . . $ 9,567 $107,335 $ 56,571 $ — $173,473 $ 9,864 $ — $183,337
Separate account liabilities . . . . . . . . . . . $ 9,567 $107,335 $ 56,571 $ — $173,473 $ 9,864 $ — $183,337
F-143MetLife, Inc.
MetLife, Inc.
Notes to the Consolidated Financial Statements — (Continued)