XML 1128 R29.htm IDEA: XBRL DOCUMENT v2.4.0.6
Earnings Per Common Share
 12 Months Ended
Dec. 31, 2012
Earnings Per Common Share [Abstract]  
Earnings Per Common Share

20.  Earnings Per Common Share

The following table presents the weighted average shares used in calculating basic earnings per common share and those used in calculating diluted earnings per common share for each income category presented below:

 

                         
    Years Ended December 31,  
    2012     2011     2010  
    (In millions, except share and per share data)  

Weighted Average Shares:

                        

Weighted average common stock outstanding for basic earnings per common share (1)

     1,070,755,561       1,059,580,442       882,436,532  

Incremental common shares from assumed:

                        

Stock purchase contracts underlying common equity
units (2)

     —       1,641,444       —  

Exercise or issuance of stock-based awards

     6,084,078       6,872,474       7,131,346  
   

 

 

    

 

 

    

 

 

  

Weighted average common stock outstanding for diluted earnings per common share (1)

     1,076,839,639       1,068,094,360       889,567,878  
   

 

 

    

 

 

    

 

 

  

Income (Loss) from Continuing Operations:

                        

Income (loss) from continuing operations, net of income tax

   $ 1,314     $ 6,391     $ 2,619  

Less: Income (loss) from continuing operations, net of income tax, attributable to noncontrolling interests

     38       (8 )      (4 ) 

Less: Preferred stock dividends

     122       122       122  

       Preferred stock redemption premium

     —       146       —  
   

 

 

    

 

 

    

 

 

  

Income (loss) from continuing operations, net of income tax, available to MetLife, Inc.’s common shareholders

   $ 1,154     $ 6,131     $ 2,501  
   

 

 

    

 

 

    

 

 

  

Basic

   $ 1.08     $ 5.79     $ 2.83  
   

 

 

    

 

 

    

 

 

  

Diluted

   $ 1.08     $ 5.74     $ 2.81  
   

 

 

    

 

 

    

 

 

  

Income (Loss) from Discontinued Operations:

                        

Income (loss) from discontinued operations, net of income tax

   $ 48     $ 24     $ 44  

Less: Income (loss) from discontinued operations, net of income tax, attributable to noncontrolling interests

     —       —       —  
   

 

 

    

 

 

    

 

 

  

Income (loss) from discontinued operations, net of income tax, available to MetLife, Inc.’s common shareholders

   $ 48     $ 24     $ 44  
   

 

 

    

 

 

    

 

 

  

Basic

   $ 0.04     $ 0.02     $ 0.05  
   

 

 

    

 

 

    

 

 

  

Diluted

   $ 0.04     $ 0.02     $ 0.05  
   

 

 

    

 

 

    

 

 

  

Net Income (Loss):

                        

Net income (loss)

   $ 1,362     $ 6,415     $ 2,663  

Less: Net income (loss) attributable to noncontrolling interests

     38       (8 )      (4 ) 

Less: Preferred stock dividends

     122       122       122  

       Preferred stock redemption premium

     —       146       —  
   

 

 

    

 

 

    

 

 

  

Net income (loss) available to MetLife, Inc.’s common shareholders

   $ 1,202     $ 6,155     $ 2,545  
   

 

 

    

 

 

    

 

 

  

Basic

   $ 1.12     $ 5.81     $ 2.88  
   

 

 

    

 

 

    

 

 

  

Diluted

   $ 1.12     $ 5.76     $ 2.86  
   

 

 

    

 

 

    

 

 

  

 

 

 

(1)

For purposes of the earnings per common share calculation, for the year ended December 31, 2010, the convertible preferred stock was assumed converted into shares of common stock for both basic and diluted weighted average shares. See Note 16.

 

(2)

See Note 15 for a description of the Company’s common equity units. For the years ended December 31, 2012 and 2010, all shares related to the assumed issuance of shares in settlement of the applicable purchase contracts have been excluded from the calculation of diluted earnings per common share as these assumed shares are anti-dilutive.