Exhibit 12.1
MetLife, Inc.
Ratio of Earnings to Fixed Charges
For the Nine Months | |||||||||||||||||||||||||||||
Ended September 30, | For the Years Ended December 31, | ||||||||||||||||||||||||||||
2007 | 2006 | 2006 | 2005 | 2004 | 2003 | 2002 | |||||||||||||||||||||||
(In millions) | |||||||||||||||||||||||||||||
Income from continuing operations before provisions for income tax | $ | 4,463 | $ | 3,128 | $ | 4,178 | $ | 4,304 | $ | 3,574 | $ | 2,359 | $ | 1,406 | |||||||||||||||
Minority interest | 186 | 183 | 234 | 154 | 152 | 110 | 73 | ||||||||||||||||||||||
Undistributed income and losses from investees | (396 | ) | 43 | (169 | ) | (106 | ) | (108 | ) | 144 | 153 | ||||||||||||||||||
ADJUSTED EARNINGS BEFORE FIXED CHARGES | $ | 4,253 | $ | 3,354 | $ | 4,243 | $ | 4,352 | $ | 3,618 | $ | 2,613 | $ | 1,632 | |||||||||||||||
ADD: FIXED CHARGES | |||||||||||||||||||||||||||||
Interest and debt issue costs | 806 | 671 | 900 | 659 | 408 | 478 | 403 | ||||||||||||||||||||||
Estimated interest component of rent expense (1) | 48 | 48 | 66 | 68 | 61 | 59 | 86 | ||||||||||||||||||||||
Interest credited to bank deposits | 150 | 142 | 194 | 109 | 39 | 17 | 7 | ||||||||||||||||||||||
Interest credited to policyholder account balances | 4,300 | 3,785 | 5,171 | 3,887 | 2,997 | 3,035 | 2,950 | ||||||||||||||||||||||
TOTAL FIXED CHARGES | $ | 5,304 | $ | 4,646 | $ | 6,331 | $ | 4,723 | $ | 3,505 | $ | 3,589 | $ | 3,446 | |||||||||||||||
Preferred Stock Dividend | 143 | 137 | 182 | 88 | — | — | — | ||||||||||||||||||||||
TOTAL FIXED CHARGES PLUS PREFERRED STOCK DIVIDENDS | $ | 5,447 | $ | 4,783 | $ | 6,513 | $ | 4,811 | $ | 3,505 | $ | 3,589 | $ | 3,446 | |||||||||||||||
TOTAL EARNINGS AND FIXED CHARGES | $ | 9,557 | $ | 8,000 | $ | 10,574 | $ | 9,075 | $ | 7,123 | $ | 6,202 | $ | 5,078 | |||||||||||||||
RATIO OF EARNINGS TO FIXED CHARGES | 1.80 | 1.72 | 1.67 | 1.92 | 2.03 | 1.73 | 1.47 | ||||||||||||||||||||||
TOTAL EARNINGS INCLUDING FIXED CHARGES AND PREFERRED STOCK DIVIDENDS | $ | 9,700 | $ | 8,137 | $ | 10,756 | $ | 9,163 | $ | 7,123 | $ | 6,202 | $ | 5,078 | |||||||||||||||
RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS | 1.78 | 1.70 | 1.65 | 1.90 | 2.03 | 1.73 | 1.47 | ||||||||||||||||||||||
1) 21.4% for 2007, 23.1% for 2006, 2005, 2004 and 2003 and 29.1% for 2002. |