EXHIBIT 12
MetLife, Inc.
Ratio of Earnings to Fixed Charges
Ratio of Earnings to Fixed Charges
| Years Ended December 31, | ||||||||||||||||||||
| 2007 | 2006 | 2005 | 2004 | 2003 | ||||||||||||||||
| (In millions) | ||||||||||||||||||||
| Income from continuing operations before provisions for income tax | $ | 5,785 | $ | 3,939 | $ | 4,119 | $ | 3,389 | $ | 2,196 | ||||||||||
| Minority interest | 23 | 23 | (10 | ) | (10 | ) | (22 | ) | ||||||||||||
| Undistributed income and losses from investees | (596 | ) | (169 | ) | (106 | ) | (108 | ) | 144 | |||||||||||
| Adjusted earnings before fixed charges | $ | 5,212 | $ | 3,793 | $ | 4,003 | $ | 3,271 | $ | 2,318 | ||||||||||
| Add: fixed charges | ||||||||||||||||||||
| Interest and debt issue costs | 987 | 812 | 618 | 369 | 441 | |||||||||||||||
| Estimated interest component of rent expense (1) | 58 | 66 | 68 | 61 | 59 | |||||||||||||||
| Interest credited to bank deposits | 199 | 194 | 109 | 39 | 17 | |||||||||||||||
| Interest credited to policyholder account balances | 5,478 | 4,916 | 3,667 | 2,783 | 2,851 | |||||||||||||||
| Total fixed charges | $ | 6,722 | $ | 5,988 | $ | 4,462 | $ | 3,252 | $ | 3,368 | ||||||||||
| Preferred stock dividend | 193 | 182 | 88 | — | — | |||||||||||||||
| Total fixed charges plus preferred stock dividends | $ | 6,915 | $ | 6,170 | $ | 4,550 | $ | 3,252 | $ | 3,368 | ||||||||||
| Total earnings and fixed charges | $ | 11,934 | $ | 9,781 | $ | 8,465 | $ | 6,523 | $ | 5,686 | ||||||||||
| Ratio of earnings to fixed charges | 1.78 | 1.63 | 1.90 | 2.01 | 1.69 | |||||||||||||||
| Total earnings including fixed charges and preferred stock dividends | $ | 12,127 | $ | 9,963 | $ | 8,553 | $ | 6,523 | $ | 5,686 | ||||||||||
| Ratio of earnings to fixed charges and preferred stock dividends | 1.75 | 1.61 | 1.88 | 2.01 | 1.69 | |||||||||||||||
| (1) | 18.93% for the year ended 2007 and 23.1% for the years ended 2006, 2005, 2004 and 2003. |