MetLife 2011 Annual Report Download - page 24

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Reconciliation of income (loss) from continuing operations, net of income tax, to operating earnings available to common
shareholders
Year Ended December 31, 2011
Insurance
Products Retirement
Products
Corporate
Benefit
Funding
Auto
&
Home Japan
Other
International
Regions Corporate
& Other Total
(In millions)
Income (loss) from continuing operations, net of income
tax ........................................... $2,629 $1,419 $1,405 $ 90 $1,190 $ 782 $(564) $ 6,951
Less: Net investment gains (losses) ................... 53 84 23 (9) (221) (616) (181) (867)
Less: Net derivative gains (losses) ..................... 1,849 1,747 366 (12) 200 785 (111) 4,824
Less: Other adjustments to continuing
operations(1) ................................... (125) (777) 91 — 38 (441) (427) (1,641)
Less: Provision for income tax (expense) benefit .......... (623) (368) (166) 7 (3) 18 290 (845)
Operating earnings ................................ $1,475 $ 733 $1,091 $104 $1,176 $1,036 (135) 5,480
Less: Preferred stock dividends ...................... 122 122
Operating earnings available to common shareholders ..... $(257) $ 5,358
Year Ended December 31, 2010
Insurance
Products Retirement
Products
Corporate
Benefit
Funding
Auto
&
Home Japan
Other
International
Regions Corporate
& Other Total
(In millions)
Income (loss) from continuing operations, net of income tax . . $1,367 $ 792 $1,020 $295 $ 2 $(155) $(574) $2,747
Less: Net investment gains (losses) ..................... 103 139 176 (7) (9) (280) (530) (408)
Less: Net derivative gains (losses) ...................... 215 235 (162) (1) (144) (347) (61) (265)
Less: Other adjustments to continuing
operations(1) ..................................... (244) (381) 140 — 12 (439) (2) (914)
Less: Provision for income tax (expense) benefit ........... (28) (4) (54) 3 49 225 188 379
Operating earnings .................................. $1,321 $ 803 $ 920 $300 $ 94 $ 686 (169) 3,955
Less: Preferred stock dividends ........................ 122 122
Operating earnings available to common shareholders ...... $(291) $3,833
(1) See definitions of operating revenues and operating expenses for the components of such adjustments.
Reconciliation of GAAP revenues to operating revenues and GAAP expenses to operating expenses
Year Ended December 31, 2011
Insurance
Products Retirement
Products
Corporate
Benefit
Funding Auto &
Home Japan
Other
International
Regions Corporate
& Other Total
(In millions)
Total revenues ............................... $ 27,841 $9,015 $8,613 $ 3,217 $ 8,822 $10,538 $2,216 $70,262
Less: Net investment gains (losses) .............. 53 84 23 (9) (221) (616) (181) (867)
Less: Net derivative gains (losses) ............... 1,849 1,747 366 (12) 200 785 (111) 4,824
Less: Adjustments related to net investment gains
(losses) and net derivative gains (losses) ......... 14 — — — — — — 14
Less: Other adjustments to
revenues(1) ............................... (224) 78 145 — (407) 50 1,265 907
Total operating revenues ....................... $ 26,149 $7,106 $8,079 $ 3,238 $ 9,250 $10,319 $1,243 $65,384
Total expenses .............................. $ 23,795 $6,833 $6,454 $ 3,162 $ 6,994 $ 9,376 $3,622 $60,236
Less: Adjustments related to net investment gains
(losses) and net derivative gains (losses) ......... (85) 638 — — 19 — — 572
Less: Other adjustments to
expenses(1) ............................... — 217 54 — (464) 491 1,692 1,990
Total operating expenses ...................... $ 23,880 $5,978 $6,400 $ 3,162 $ 7,439 $ 8,885 $1,930 $57,674
20 MetLife, Inc.