EX-12.1 3 copyofexhibit121ratioofear.htm EXHIBIT 12.1 Exhibit


Exhibit 12.1

MetLife, Inc.
Ratio of Earnings to Fixed Charges
 
Years Ended December 31,
 
2017
 
2016
 
2015
 
2014
 
2013
 
(In millions, except ratios)
Income (loss) from continuing operations before provision for income tax
$
3,536

 
$
4,281

  
$
5,651

  
$
6,883

  
$
3,686

Less: Undistributed income (loss) from equity investees
444

 
164

  
299

  
418

  
337

Adjusted earnings before fixed charges
$
3,092

  
$
4,117

  
$
5,352

  
$
6,465

  
$
3,349

Add: Fixed charges
 
 
 
 
 
 
 
 
 
Interest and debt issue costs
1,185

 
1,188

  
1,544

  
1,189

  
1,194

Estimated interest component of rent expense
15

 
24

  
25

  
28

  
33

Interest credited to bank deposits
—

  
—

 
—

  
—

  
2

Interest credited to policyholder account balances
5,607

 
5,176

  
4,415

  
5,726

  
6,881

Total fixed charges
$
6,807

  
$
6,388

  
$
5,984

  
$
6,943

  
$
8,110

Preferred stock dividends (1)
107

 
123

  
219

  
170

  
150

Total fixed charges and preferred stock dividends

$
6,914

  
$
6,511

  
$
6,203

  
$
7,113

  
$
8,260

Total earnings and fixed charges
$
9,899

  
$
10,505

  
$
11,336

  
$
13,408

  
$
11,459

Ratio of earnings to fixed charges
1.45

  
1.64

  
1.89

  
1.93

  
1.41

Total earnings, including fixed charges and preferred stock dividends
$
10,006

  
$
10,628

  
$
11,555

  
$
13,578

  
$
11,609

Ratio of earnings to fixed charges and preferred stock dividends
1.45

  
1.63

  
1.86

  
1.91

  
1.41

__________________________________________
(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.