MetLife 2013 Annual Report Download - page 34

Reconciliation of GAAP revenues to operating revenues and GAAP expenses to operating expenses
Year Ended December 31, 2013
Retail
Group,
Voluntary
& Worksite
Benefits
Corporate
Benefit
Funding Latin America Asia EMEA Corporate & Other Total
(In millions)
Total revenues ................................... $19,574 $17,343 $8,946 $5,165 $13,204 $3,937 $ 30 $68,199
Less: Net investment gains (losses) ................... 70 (21) (8) 20 343 (16) (227) 161
Less: Net derivative gains (losses) .................... (724) (676) (235) (24) (1,057) (6) (517) (3,239)
Less: Adjustments related to net investment gains (losses)
and net derivative gains (losses) .................... (9) — — — 2 14 — 7
Less: Other adjustments to revenues (1) ............... (119) (172) 15 85 1,386 667 110 1,972
Total operating revenues ........................... $20,356 $18,212 $9,174 $5,084 $12,530 $3,278 $ 664 $69,298
Total expenses ................................... $17,316 $16,762 $7,132 $4,285 $12,552 $3,477 $ 2,623 $64,147
Less: Adjustments related to net investment gains (losses)
and net derivative gains (losses) .................... (197) — — — (15) 16 — (196)
Less: Goodwill impairment .......................... — — — — — — — —
Less: Other adjustments to expenses (1) ............... 995 — (31) (82) 1,838 590 503 3,813
Total operating expenses ........................... $16,518 $16,762 $7,163 $4,367 $10,729 $2,871 $ 2,120 $60,530
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
(1) See definitions of operating revenues and operating expenses under “— Non-GAAP and Other Financial Disclosures” for the components of such
adjustments.
26 MetLife, Inc.