MetLife 2012 Annual Report Download - page 29

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Reconciliation of GAAP revenues to operating revenues and GAAP expenses to operating expenses
Year Ended December 31, 2012
Retail
Group,
Voluntary
& Worksite
Benefits
Corporate
Benefit
Funding Latin
America Asia EMEA Corporate
& Other Total
(In millions)
Total revenues ................................... $19,939 $17,436 $9,436 $4,845 $12,793 $4,279 $ (578) $68,150
Less: Net investment gains (losses) ................... 212 (7) 107 (2) (342) 31 (351) (352)
Less: Net derivative gains (losses) .................... 162 (63) (157) 38 (170) 61 (1,790) (1,919)
Less: Adjustments related to net investment gains (losses)
and net derivative gains (losses) .................... — — — — — 15 — 15
Less: Other adjustments to revenues (1) ............... (77) (140) 62 232 549 813 616 2,055
Total operating revenues ........................... $19,642 $17,646 $9,424 $4,577 $12,756 $3,359 $ 947 $68,351
Total expenses ................................... $19,483 $16,206 $7,584 $4,289 $11,746 $3,792 $ 3,608 $66,708
Less: Adjustments related to net investment gains (losses)
and net derivative gains (losses) .................... 19 — — — 4 18 — 41
Less: Goodwill impairment .......................... 1,692 — — — — — 176 1,868
Less: Other adjustments to expenses (1) ............... 1,164 1 43 425 577 832 1,537 4,579
Total operating expenses ........................... $16,608 $16,205 $7,541 $3,864 $11,165 $2,942 $ 1,895 $60,220
Year Ended December 31, 2011
Retail
Group,
Voluntary
& Worksite
Benefits
Corporate
Benefit
Funding Latin
America Asia EMEA Corporate
& Other Total
(In millions)
Total revenues ................................... $21,491 $17,777 $9,413 $4,448 $10,959 $2,956 $ 3,197 $70,241
Less: Net investment gains (losses) ................... 158 (26) 19 (6) (305) (525) (182) (867)
Less: Net derivative gains (losses) .................... 2,321 1,203 426 (36) 202 32 676 4,824
Less: Adjustments related to net investment gains (losses)
and net derivative gains (losses) .................... 14 — — — — — — 14
Less: Other adjustments to revenues (1) ............... (2) (137) 133 179 (508) (28) 1,546 1,183
Total operating revenues ........................... $19,000 $16,737 $8,835 $4,311 $11,570 $3,477 $ 1,157 $65,087
Total expenses ................................... $17,714 $15,401 $7,178 $4,166 $ 9,727 $3,117 $ 3,754 $61,057
Less: Adjustments related to net investment gains (losses)
and net derivative gains (losses) .................... 507 — — — 19 — — 526
Less: Goodwill impairment .......................... — — — — — — — —
Less: Other adjustments to expenses (1) ............... 214 — 54 519 (541) 47 1,829 2,122
Total operating expenses ........................... $16,993 $15,401 $7,124 $3,647 $10,249 $3,070 $ 1,925 $58,409
Year Ended December 31, 2010
Retail
Group,
Voluntary
& Worksite
Benefits
Corporate
Benefit
Funding Latin
America Asia EMEA Corporate
& Other Total
(In millions)
Total revenues ................................... $18,726 $16,877 $8,397 $3,544 $ 2,356 $ 534 $ 1,813 $52,247
Less: Net investment gains (losses) ................... 178 8 225 (26) (208) (136) (449) (408)
Less: Net derivative gains (losses) .................... 210 184 (107) 19 (173) (33) (365) (265)
Less: Adjustments related to net investment gains (losses)
and net derivative gains (losses) .................... 1 — — — — — — 1
Less: Other adjustments to revenues (1) ............... (86) (102) 181 13 8 50 1,719 1,783
Total operating revenues ........................... $18,423 $16,787 $8,098 $3,538 $ 2,729 $ 653 $ 908 $51,136
Total expenses ................................... $16,656 $15,496 $6,674 $3,310 $ 2,589 $ 714 $ 3,079 $48,518
Less: Adjustments related to net investment gains (losses)
and net derivative gains (losses) .................... 110 — — — — — — 110
Less: Goodwill impairment .......................... — — — — — — — —
Less: Other adjustments to expenses (1) ............... 314 5 50 287 130 54 1,542 2,382
Total operating expenses ........................... $16,232 $15,491 $6,624 $3,023 $ 2,459 $ 660 $ 1,537 $46,026
(1) See definitions of operating revenues and operating expenses for the components of such adjustments.
MetLife, Inc. 23