EX-12.1 18 y49428ex12-1.txt STATEMENT RE COMPUTATION OF RATIO OF EARNINGS 1 EXHIBIT 12.1 METLIFE, INC. RATIO OF EARNINGS TO FIXED CHARGES
For the Three Months Ended March 31, For the Year Ended December 31, ------- ---------------------------------------------------------- 2001 2000 1999 1998 1997 1996 ------- ------- ------- ------- ------- ------- (In Millions) Income before provision for income taxes and discontinued operations $ 427 $ 1,416 $ 1,175 $ 2,081 $ 1,671 $ 1,406 Minority interests 39 174 55 67 56 30 Undistributed income and losses of investees (131) (200) (322) (114) 157 (45) ------- ------- ------- ------- ------- ------- Adjusted earnings 335 1,390 908 2,034 1,884 1,391 ------- ------- ------- ------- ------- ------- Add Fixed Charges: Interest credited to policyholder account balances 760 2,935 2,441 2,711 2,878 2,868 Interest 75 365 405 379 453 311 Estimated interest component of rent expense (1) 20 77 62 40 46 47 Charges for equity security units 20 59 -- -- -- -- ------- ------- ------- ------- ------- ------- Total fixed charges 875 3,436 2,908 3,130 3,377 3,226 ------- ------- ------- ------- ------- ------- Deduct: Interest capitalized -- -- -- -- -- 6 Charges for equity security units 20 59 -- -- -- -- ------- ------- ------- ------- ------- ------- Total earnings $ 1,190 $ 4,767 $ 3,816 $ 5,164 $ 5,261 $ 4,611 ======= ======= ======= ======= ======= ======= Ratio of earnings to fixed charges 1.36 1.39 1.31 1.65 1.56 1.43 ======= ======= ======= ======= ======= =======
(1) 29.3% for the three months ended 2001, 25.9% for all previous periods