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- 10-K Annual report
- 3.1 Amended and Restated Certificate of Incorporation of Metlife, Inc.
- 3.2 Certificate of Designation
- 3.3 Certificate of Designations
- 3.4 Certificate of Designations
- 3.5 Certificate of Designations
- 3.6 Certificate of Amendment of Amended and Restated Certificate of Incorporation
- 4.1 Indenture, Dated As of November 9, 2001
- 4.45 Third Supplemental Indenture
- 4.82 Replacement Capital Covenant
- 10.10 Letter
- 10.11 Offer Letter
- 10.35 Form of Management Performance Share Agreement
- 10.45 Amended and Restated 2010-2011 Long Term Incentive Plan
- 10.46 Metlife International Performance Unit Incentive Plan
- 10.47 Form of Performance Unit Agreement
- 10.48 Metlife International Unit Option Incentive Plan
- 10.49 Form of Unit Option Agreement
- 10.58 Resolutions of the Metlife, Inc.
- 10.66 Amendment Number Three to the Metlife Deferred Compensation Plan for Officers
- 10.67 Metlife Leadership Deferred Compensation Plan
- 10.74 Amendment Number One to the Metlife Deferred Compensation Plan
- 10.75 Metlife Non-management Director Deferred Compensation Plan
- 10.76 Amendment Number One to the Metlife Non-management Director
- 10.80 Metlife Auxiliary Pension Plan
- 10.81 Metlife Auxiliary Pension Plan
- 10.88 Alico Overseas Pension Plan
- 10.89 Amendment Number One to the Alico Overseas Pension Plan
- 10.90 Amendment Number Two to the Alico Overseas Pension Plan
- 10.93 Amendment Number Two to the Mpta
- 10.94 Amendment Number Three to the Mpta
- 12.1 Statement Re: Computation of Ratios of Earnings to Fixed Charges
- 21.1 Subsidiaries of the Registrant
- 23.1 Consent of Deloitte & Touche LLP
- 31.1 Certification of Chief Executive Officer
- 31.2 Certification of Interim Chief Financial Officer
- 32.1 Certification of Chief Executive Officer
- 32.2 Certification of Interim Chief Financial Officer
- COVER Cover
Exhibit 12.1
MetLife, Inc.
Ratio of Earnings to Fixed Charges
Years Ended December 31, | ||||||||||||||||||||
2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||
Income (loss) from continuing operations before provision for income tax | $ | 10,026 | $ | 3,912 | $ | (4,361 | ) | $ | 5,030 | $ | 5,751 | |||||||||
Undistributed income and losses from investees | (180 | ) | (424 | ) | 1,473 | 784 | (596 | ) | ||||||||||||
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Adjusted earnings before fixed charges (1) | $ | 9,846 | $ | 3,488 | $ | (2,888 | ) | $ | 5,814 | $ | 5,155 | |||||||||
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Add: fixed charges | ||||||||||||||||||||
Interest and debt issue costs (2) | 1,666 | 1,565 | 1,083 | 1,157 | 1,117 | |||||||||||||||
Estimated interest component of rent expense | 34 | 50 | 74 | 46 | 71 | |||||||||||||||
Interest credited to bank deposits | 95 | 137 | 163 | 166 | 199 | |||||||||||||||
Interest credited to policyholder account balances | 5,603 | 4,919 | 4,845 | 4,787 | 5,458 | |||||||||||||||
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Total fixed charges | $ | 7,398 | $ | 6,671 | $ | 6,165 | $ | 6,156 | $ | 6,845 | ||||||||||
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Preferred stock dividends (3) | 387 | 174 | 228 | 181 | 193 | |||||||||||||||
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Total fixed charges plus preferred stock dividends | $ | 7,785 | $ | 6,845 | $ | 6,393 | $ | 6,337 | $ | 7,038 | ||||||||||
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Total earnings and fixed charges | $ | 17,244 | $ | 10,159 | $ | 3,277 | $ | 11,970 | $ | 12,000 | ||||||||||
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Ratio of earnings to fixed charges (1) | 2.33 | 1.52 | — | 1.94 | 1.75 | |||||||||||||||
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Total earnings including fixed charges and preferred stock dividends | $ | 17,631 | $ | 10,333 | $ | 3,505 | $ | 12,151 | $ | 12,193 | ||||||||||
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Ratio of earnings to fixed charges and preferred stock dividends (1) | 2.26 | 1.51 | — | 1.92 | 1.73 | |||||||||||||||
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(1) | Earnings were insufficient to cover fixed charges at a 1:1 ratio by $2,888 million for the year ended December 31, 2009, primarily due to increased derivatives losses on freestanding derivatives, partially offset by gains on embedded derivatives. |
(2) | Interest costs include $324 million and $411 million related to variable interest entities for the years ended December 2011 and 2010, respectively. Excluding these costs would result in a ratio of earnings to fixed charges and ratio of earnings to fixed charges including preferred stock dividends of 2.39 and 2.36 and 1.56 and 1.54, respectively. |
(3) | For the year ended December 31, 2011, preferred stock dividends includes the redemption premium of $211 million associated with the convertible preferred stock repurchased and canceled in March 2011. |
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