MetLife 2011 Annual Report Download - page 232

MetLife, Inc.
Notes to the Consolidated Financial Statements — (Continued)
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:
Years Ended December 31,
2011 2010 2009
(In millions, except share and per share data)
Weighted Average Shares:
Weighted average common stock outstanding for basic earnings per
common share(1) ........................................... 1,059,580,442 882,436,532 818,462,150
Incremental common shares from assumed: ........................
Stock purchase contracts underlying common equity units(2) ......... 1,641,444 — —
Exercise or issuance of stock-based awards(3) .................... 6,872,474 7,131,346 —
Weighted average common stock outstanding for diluted earnings per
common share(1) ........................................... 1,068,094,360 889,567,878 818,462,150
Income (Loss) from Continuing Operations:
Income (loss) from continuing operations, net of income tax ............ $ 6,951 $ 2,747 $ (2,336)
Less: Income (loss) from continuing operations, net of income tax,
attributable to noncontrolling interests ......................... (10) (4) (32)
Less: Preferred stock dividends ................................ 122 122 122
Preferred stock redemption premium ....................... 146 — —
Income (loss) from continuing operations, net of income tax, available to
MetLife, Inc.’s common shareholders ........................... $ 6,693 $ 2,629 $ (2,426)
Basic .................................................... $ 6.32 $ 2.98 $ (2.96)
Diluted ................................................... $ 6.27 $ 2.96 $ (2.96)
Income (Loss) from Discontinued Operations:
Income (loss) from discontinued operations, net of income tax .......... $ 20 $ 39 $ 58
Less: Income (loss) from discontinued operations, net of income tax,
attributable to noncontrolling interests ......................... — — —
Income (loss) from discontinued operations, net of income tax, available to
MetLife, Inc.’s common shareholders ........................... $ 20 $ 39 $ 58
Basic .................................................... $ 0.02 $ 0.04 $ 0.07
Diluted ................................................... $ 0.02 $ 0.04 $ 0.07
Net Income (Loss):
Net income (loss) ............................................. $ 6,971 $ 2,786 $ (2,278)
Less: Net income (loss) attributable to noncontrolling interests ........ (10) (4) (32)
Less: Preferred stock dividends ................................ 122 122 122
Preferred stock redemption premium ....................... 146 — —
Net income (loss) available to MetLife, Inc.’s common shareholders ...... $ 6,713 $ 2,668 $ (2,368)
Basic .................................................... $ 6.34 $ 3.02 $ (2.89)
Diluted ................................................... $ 6.29 $ 3.00 $ (2.89)
(1) For purposes of the earnings per common share calculation, for the year ended December 31, 2010, the convertible preferred stock was assumed
converted into shares of common stock for both basic and diluted weighted average shares. See Note 18.
(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.
228 MetLife, Inc.