EX-12.1 2 exhibit121ratioofearningst.htm EXHIBIT 12.1 Exhibit


Exhibit 12.1

MetLife, Inc.
Ratio of Earnings to Fixed Charges
 
Years Ended December 31,
 
2016
 
2015
 
2014
 
2013
 
2012
 
(In millions, except ratios)
Income (loss) from continuing operations before provision for income tax
$
4,140

 
$
5,708

  
$
6,883

  
$
3,686

  
$
2,168

Less: Undistributed income (loss) from equity investees
164

 
299

  
418

  
337

  
192

Adjusted earnings before fixed charges
$
3,976

  
$
5,409

  
$
6,465

  
$
3,349

  
$
1,976

Add: Fixed charges
 
 
 
 
 
 
 
 
 
Interest and debt issue costs
1,188

 
1,544

  
1,189

  
1,194

  
1,202

Estimated interest component of rent expense
24

 
25

  
28

  
33

  
28

Interest credited to bank deposits
—

  
—

 
—

  
2

  
78

Interest credited to policyholder account balances
5,176

 
4,415

  
5,726

  
6,881

  
6,392

Total fixed charges
$
6,388

  
$
5,984

  
$
6,943

  
$
8,110

  
$
7,700

Preferred stock dividends (1)
123

 
225

  
170

  
150

  
163

 
$
6,511

  
$
6,209

  
$
7,113

  
$
8,260

  
$
7,863

Total earnings and fixed charges
$
10,364

  
$
11,393

  
$
13,408

  
$
11,459

  
$
9,676

Ratio of earnings to fixed charges
1.62

  
1.90

  
1.93

  
1.41

  
1.26

Total earnings, including fixed charges and preferred stock dividends
$
10,487

  
$
11,618

  
$
13,578

  
$
11,609

  
$
9,839

Ratio of earnings to fixed charges and preferred stock dividends
1.61

  
1.87

  
1.91

  
1.41

  
1.25

__________________________________________
(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.