MetLife 2011 Annual Report Download - page 236

MetLife, Inc.
Notes to the Consolidated Financial Statements — (Continued)
Operating Earnings
Adjustments Total Consolidated
U.S. Business International
Corporate
& Other TotalYear Ended December 31, 2011 Insurance Products Retirement Products
Corporate
Benefit
Funding Auto & Home Total Japan
Other
International
Regions Total
(In millions)
Revenues
Premiums ................ $ 16,949 $ 1,141 $ 2,418 $3,000 $ 23,508 $ 6,325 $ 6,426 $ 12,751 $ 10 $ 36,269 $ 92 $36,361
Universal life and investment-
type product policy fees . . . 2,264 2,463 231 — 4,958 824 1,746 2,570 — 7,528 278 7,806
Net investment income ..... 6,107 3,195 5,181 205 14,688 2,079 1,995 4,074 914 19,676 (70) 19,606
Other revenues ........... 829 307 249 33 1,418 22 152 174 319 1,911 621 2,532
Net investment gains
(losses) ................ — — — — — — — — — — (867) (867)
Net derivative gains
(losses) ................ — — — — — — — — — — 4,824 4,824
Total revenues .......... 26,149 7,106 8,079 3,238 44,572 9,250 10,319 19,569 1,243 65,384 4,878 70,262
Expenses
Policyholder benefits and
claims and policyholder
dividends .............. 18,707 1,846 4,594 2,375 27,522 3,973 4,724 8,697 8 36,227 676 36,903
Interest credited to
policyholder account
balances .............. 997 1,595 1,321 — 3,913 1,561 583 2,144 — 6,057 (454) 5,603
Capitalization of DAC ....... (864) (1,612) (27) (453) (2,956) (2,250) (1,643) (3,893) — (6,849) (9) (6,858)
Amortization of DAC and
VOBA ................. 897 1,004 17 448 2,366 1,312 1,120 2,432 1 4,799 592 5,391
Amortization of negative
VOBA ................. — — — — — (555) (64) (619) — (619) (78) (697)
Interest expense on debt .... — 2 8 — 10 — 1 1 1,294 1,305 324 1,629
Other expenses ........... 4,143 3,143 487 792 8,565 3,398 4,164 7,562 627 16,754 1,511 18,265
Total expenses .......... 23,880 5,978 6,400 3,162 39,420 7,439 8,885 16,324 1,930 57,674 2,562 60,236
Provision for income tax
expense (benefit) ........ 794 395 588 (28) 1,749 635 398 1,033 (552) 2,230 845 3,075
Operating earnings ...... $ 1,475 $ 733 $ 1,091 $ 104 $ 3,403 $ 1,176 $ 1,036 $ 2,212 $ (135) 5,480
Adjustments to:
Total revenues .......... 4,878
Total expenses .......... (2,562)
Provision for income tax
(expense) benefit ...... (845)
Income (loss) from
continuing operations,
net of income tax ...... $ 6,951 $ 6,951
U.S. Business International
Corporate
& Other TotalAt December 31, 2011 Insurance Products Retirement Products
Corporate
Benefit
Funding Auto & Home Total Japan
Other
International
Regions Total
(In millions)
Total assets ............. $149,563 $196,160 $188,525 $5,915 $540,163 $104,563 $63,947 $168,510 $90,952 $799,625
Separate account
assets ................ $ 8,425 $120,285 $ 64,828 $ — $193,538 $ — $ 9,485 $ 9,485 $ — $203,023
Separate account
liabilities .............. $ 8,425 $120,285 $ 64,828 $ — $193,538 $ — $ 9,485 $ 9,485 $ — $203,023
232 MetLife, Inc.