Exhibit 12.1
MetLife, Inc.
Ratio of Earnings to Fixed Charges
Three Months Ended March 31, | Years Ended December 31, | |||||||||||||||||||||||||||
2018 | 2017 | 2017 | 2016 | 2015 | 2014 | 2013 | ||||||||||||||||||||||
(In millions, except ratios) | ||||||||||||||||||||||||||||
Income (loss) from continuing operations before provision for income tax | $ | 1,656 | $ | 1,072 | $ | 3,536 | $ | 4,281 | $ | 5,651 | $ | 6,883 | $ | 3,686 | ||||||||||||||
Less: Undistributed income (loss) from equity investees | 238 | 160 | 444 | 164 | 299 | 418 | 337 | |||||||||||||||||||||
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Adjusted earnings before fixed charges | $ | 1,418 | $ | 912 | $ | 3,092 | $ | 4,117 | $ | 5,352 | $ | 6,465 | $ | 3,349 | ||||||||||||||
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Add: Fixed charges | ||||||||||||||||||||||||||||
Interest and debt issue costs | 308 | 304 | 1,185 | 1,188 | 1,544 | 1,189 | 1,194 | |||||||||||||||||||||
Estimated interest component of rent expense | 7 | 7 | 15 | 24 | 25 | 28 | 33 | |||||||||||||||||||||
Interest credited to bank deposits | — | — | — | — | — | — | 2 | |||||||||||||||||||||
Interest credited to policyholder account balances | 769 | 1,451 | 5,607 | 5,176 | 4,415 | 5,726 | 6,881 | |||||||||||||||||||||
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Total fixed charges | $ | 1,084 | $ | 1,762 | $ | 6,807 | $ | 6,388 | $ | 5,984 | $ | 6,943 | $ | 8,110 | ||||||||||||||
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Preferred stock dividends (1) | 9 | 7 | 107 | 123 | 219 | 170 | 150 | |||||||||||||||||||||
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Total fixed charges and preferred stock dividends | $ | 1,093 | $ | 1,769 | �� | $ | 6,914 | $ | 6,511 | $ | 6,203 | $ | 7,113 | $ | 8,260 | |||||||||||||
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Total earnings and fixed charges | $ | 2,502 | $ | 2,674 | $ | 9,899 | $ | 10,505 | $ | 11,336 | $ | 13,408 | $ | 11,459 | ||||||||||||||
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Ratio of earnings to fixed charges | 2.31 | 1.52 | 1.45 | 1.64 | 1.89 | 1.93 | 1.41 | |||||||||||||||||||||
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Total earnings, including fixed charges and preferred stock dividends | $ | 2,511 | $ | 2,681 | $ | 10,006 | $ | 10,628 | $ | 11,555 | $ | 13,578 | $ | 11,609 | ||||||||||||||
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Ratio of earnings to fixed charges and preferred stock dividends | 2.30 | 1.52 | 1.45 | 1.63 | 1.86 | 1.91 | 1.41 | |||||||||||||||||||||
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(1) | For the year ended December 31, 2015, preferred stock dividends includes the repurchase premium of $59 million associated with the repurchased and canceled 6.50%non-cumulative Series B preferred stock. |