MetLife 2011 Annual Report Download - page 237
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MetLife, Inc.
Notes to the Consolidated Financial Statements — (Continued)
Operating Earnings
Adjustments Total
Consolidated
U.S. Business International
Corporate
& Other TotalYear Ended December 31, 2010 Insurance
Products Retirement
Products
Corporate
Benefit
Funding
Auto
&
Home Total Japan
Other
International
Regions Total
(In millions)
Revenues
Premiums ................. $ 17,200 $ 875 $ 1,938 $2,923 $ 22,936 $ 499 $ 3,625 $ 4,124 $ 11 $ 27,071 $ — $27,071
Universal life and investment-
type product policy fees .... 2,247 2,024 226 — 4,497 55 1,265 1,320 — 5,817 211 6,028
Net investment income ...... 6,068 3,395 4,954 209 14,626 145 1,466 1,611 643 16,880 631 17,511
Other revenues ............ 761 220 246 22 1,249 7 28 35 391 1,675 653 2,328
Net investment gains
(losses) ................. — — — — — — — — — — (408) (408)
Net derivative gains (losses) . . . — — — — — — — — — — (265) (265)
Total revenues ........... 26,276 6,514 7,364 3,154 43,308 706 6,384 7,090 1,045 51,443 822 52,265
Expenses
Policyholder benefits and
claims and policyholder
dividends ............... 19,075 1,487 4,041 2,021 26,624 309 3,053 3,362 (14) 29,972 698 30,670
Interest credited to policyholder
account balances ......... 963 1,612 1,445 — 4,020 123 554 677 — 4,697 222 4,919
Capitalization of DAC ........ (841) (1,067) (19) (448) (2,375) (149) (775) (924) — (3,299) — (3,299)
Amortization of DAC and
VOBA .................. 966 808 16 439 2,229 82 490 572 1 2,802 41 2,843
Amortization of negative
VOBA .................. — — — — — (49) (8) (57) — (57) (7) (64)
Interest expense on debt ..... 1 3 6 — 10 — 3 3 1,126 1,139 411 1,550
Other expenses ............ 4,080 2,437 460 769 7,746 244 2,233 2,477 467 10,690 1,044 11,734
Total expenses ........... 24,244 5,280 5,949 2,781 38,254 560 5,550 6,110 1,580 45,944 2,409 48,353
Provision for income tax
expense (benefit) ......... 711 431 495 73 1,710 52 148 200 (366) 1,544 (379) 1,165
Operating earnings ....... $ 1,321 $ 803 $ 920 $ 300 $ 3,344 $ 94 $ 686 $ 780 $ (169) 3,955
Adjustments to:
Total revenues ........... 822
Total expenses ........... (2,409)
Provision for income tax
(expense) benefit ....... 379
Income (loss) from
continuing operations,
net of income tax ....... $ 2,747 $ 2,747
U.S. Business International
Corporate
& Other TotalAt December 31, 2010 Insurance
Products Retirement
Products
Corporate
Benefit
Funding
Auto
&
Home Total Japan
Other
International
Regions Total
(In millions)
Total assets .............. $141,366 $177,045 $172,929 $5,541 $496,881 $87,416 $77,579 $164,995 $69,030 $730,906
Separate account assets .. $ 9,567 $107,335 $ 56,571 $ — $173,473 $ — $ 9,665 $ 9,665 $ — $183,138
Separate account
liabilities ............... $ 9,567 $107,335 $ 56,571 $ — $173,473 $ — $ 9,665 $ 9,665 $ — $183,138
MetLife, Inc. 233