MetLife 2013 Annual Report Download - page 91

MetLife, Inc.
Consolidated Statements of Operations
For the Years Ended December 31, 2013, 2012 and 2011
(In millions, except per share data)
2013 2012 2011
Revenues
Premiums ....................................................................... $37,674 $37,975 $36,361
Universal life and investment-type product policy fees ..................................... 9,451 8,556 7,806
Net investment income ............................................................. 22,232 21,984 19,585
Other revenues ................................................................... 1,920 1,906 2,532
Net investment gains (losses):
Other-than-temporary impairments on fixed maturity securities ............................. (106) (346) (924)
Other-than-temporary impairments on fixed maturity securities transferred to other comprehensive
income (loss) ................................................................. (60) 29 (31)
Other net investment gains (losses) ................................................. 327 (35) 88
Total net investment gains (losses) ................................................ 161 (352) (867)
Net derivative gains (losses) ....................................................... (3,239) (1,919) 4,824
Total revenues ............................................................. 68,199 68,150 70,241
Expenses
Policyholder benefits and claims ...................................................... 38,107 37,987 35,471
Interest credited to policyholder account balances ........................................ 8,179 7,729 5,603
Policyholder dividends ............................................................. 1,259 1,369 1,446
Goodwill impairment ............................................................... — 1,868 —
Other expenses .................................................................. 16,602 17,755 18,537
Total expenses ............................................................ 64,147 66,708 61,057
Income (loss) from continuing operations before provision for income tax ...................... 4,052 1,442 9,184
Provision for income tax expense (benefit) .............................................. 661 128 2,793
Income (loss) from continuing operations, net of income tax ................................ 3,391 1,314 6,391
Income (loss) from discontinued operations, net of income tax .............................. 2 48 24
Net income (loss) ................................................................. 3,393 1,362 6,415
Less: Net income (loss) attributable to noncontrolling interests .............................. 25 38 (8)
Net income (loss) attributable to MetLife, Inc. ............................................ 3,368 1,324 6,423
Less: Preferred stock dividends ..................................................... 122 122 122
Preferred stock redemption premium ............................................. — — 146
Net income (loss) available to MetLife, Inc.’s common shareholders .......................... $ 3,246 $ 1,202 $ 6,155
Income (loss) from continuing operations, net of income tax, available to MetLife, Inc.’s common
shareholders per common share:
Basic ......................................................................... $ 2.94 $ 1.08 $ 5.79
Diluted ....................................................................... $ 2.91 $ 1.08 $ 5.74
Net income (loss) available to MetLife, Inc.’s common shareholders per common share:
Basic ......................................................................... $ 2.94 $ 1.12 $ 5.81
Diluted ....................................................................... $ 2.91 $ 1.12 $ 5.76
Cash dividends declared per common share ............................................ $ 1.01 $ 0.74 $ 0.74
See accompanying notes to the consolidated financial statements.
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