METLIFE INC - FORM 8-K - EX-99.1 - HISTORICAL RESULTS FINANCIAL SUPPLEMENT

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8-K - FORM 8-K - METLIFE INC	d418531d8k.htm

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Historical Results Financial Supplement

Presented in Revised Format

for the Quarters Ended

September 30, 2011, December 31, 2011,

March 31, 2012 and June 30, 2012

and for the Year Ended December 31, 2011

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METLIFE, INC. TABLE OF CONTENTS

NOTE TO FINANCIALS			2

CORPORATE OVERVIEW			3

METLIFE, INC.
Consolidated Balance Sheets			4
Consolidated Statements of Operating Earnings Available to Common Shareholders			5
Consolidating Statement of Operating Earnings Available to Common Shareholders			6

SUMMARY OF SEGMENT OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS			8

THE AMERICAS - RETAIL
Statements of Operating Earnings Available to Common Shareholders			9
Future Policy Benefits and Policyholder Account Balances; and Separate Account Liabilities			12
Other Expenses by Major Category and Sales by Product			13
Spread by Product and Other Statistical Information			14

THE AMERICAS - GROUP, VOLUNTARY & WORKSITE BENEFITS
Statements of Operating Earnings Available to Common Shareholders			15
Future Policy Benefits and Policyholder Account Balances; and Separate Account Liabilities			16
Other Expenses by Major Category, Spread and Other Statistical Information			17

THE AMERICAS - CORPORATE BENEFIT FUNDING
Statements of Operating Earnings Available to Common Shareholders			18
Future Policy Benefits and Policyholder Account Balances; and Separate Account Liabilities			19
Other Expenses by Major Category and Spread			20

THE AMERICAS - LATIN AMERICA
Statements of Operating Earnings Available to Common Shareholders			21

ASIA
Statements of Operating Earnings Available to Common Shareholders			22

EUROPE, THE MIDDLE EAST AND AFRICA (“EMEA”)
Statements of Operating Earnings Available to Common Shareholders			23

CORPORATE & OTHER
Statements of Operating Earnings Available to Common Shareholders			24

INVESTMENTS
Investment Portfolio Results by Asset Category and Annualized Yields			25
Gross Unrealized Gains and Losses Aging Schedules - Fixed Maturity Securities and Equity Securities Available-for-Sale			27
Summary of Fixed Maturity Securities Available-for-Sale by Sector and Quality Distribution and Summary of Real Estate and Real Estate Joint Ventures			28
Summary of Mortgage Loans and Summary of Commercial Mortgage Loans by Region and Property Type			29

APPENDIX			30



		METLIFE, INC. NOTE TO FINANCIALS This Quarterly Financial Supplement (“QFS”) includes certain operating and statistical measures, such as sales and product spreads, among others, to provide supplemental data regarding the performance of our current business. Operating earnings is the measure of segment profit or loss we use to evaluate segment performance and allocate resources. Consistent with accounting principles generally accepted in the United States of America (“GAAP”) accounting guidance for segment reporting, operating earnings is our measure of segment performance. Operating earnings is also a measure by which senior management’s and many other employees’ performance is evaluated for the purposes of determining their compensation under applicable compensation plans. Operating earnings is defined as operating revenues less operating expenses, both net of income tax. Operating earnings available to common shareholders is defined as operating earnings less preferred stock dividends. Operating revenues and operating expenses exclude results of discontinued operations and other businesses that have been or will be sold or exited by MetLife, Inc. (“Divested businesses”). Operating revenues also excludes net investment gains (losses) (“NIGL”) and net derivative gains (losses) (“NDGL”). The following additional adjustments are made to GAAP revenues, in the line items indicated, in calculating operating revenues:
		•		Universal life and investment-type product policy fees excludes the amortization of unearned revenue related to NIGL and NDGL (“Unearned revenue adjustments”) and certain variable annuity guaranteed minimum income benefits (“GMIB”) fees (“GMIB fees”);
		•		Net investment income: (i) includes amounts for scheduled periodic settlement payments and amortization of premium on derivatives that are hedges of investments but do not qualify for hedge accounting treatment (“Investment hedge adjustments”), (ii) includes income from discontinued real estate operations, (iii) excludes post-tax operating earnings adjustments relating to insurance joint ventures accounted for under the equity method (“Joint venture adjustments”), (iv) excludes certain amounts related to contractholder-directed unit-linked investments (“Unit-linked contract income”), and (v) excludes certain amounts related to securitization entities that are variable interest entities (“VIEs”) consolidated under GAAP (“Securitization entities income”); and
		•		Other revenues are adjusted for settlements of foreign currency earnings hedges.
		The following additional adjustments are made to GAAP expenses, in the line items indicated, in calculating operating expenses:
		•		Policyholder benefits and claims and policyholder dividends excludes: (i) changes in the policyholder dividend obligation related to NIGL and NDGL (“PDO adjustments”), (ii) inflation-indexed benefit adjustments associated with contracts backed by inflation-indexed investments and amounts associated with periodic crediting rate adjustments based on the total return of a contractually referenced pool of assets (“Inflation adjustments and pass through adjustments”), (iii) benefits and hedging costs related to GMIBs (“GMIB costs”), and (iv) market value adjustments associated with surrenders or terminations of contracts (“Market value adjustments”);
		•		Interest credited to policyholder account balances includes adjustments for scheduled periodic settlement payments and amortization of premium on derivatives that are hedges of policyholder account balances but do not qualify for hedge accounting treatment (“PAB hedge adjustments”) and excludes amounts related to net investment income earned on contractholder-directed unit-linked investments (“Unit-linked contract costs”);
		•		Amortization of deferred policy acquisition costs (“DAC”) and value of business acquired (“VOBA”) excludes amounts related to: (i) NIGL and NDGL, (ii) GMIB fees and GMIB costs, and (iii) Market value adjustments;
		•		Amortization of negative VOBA excludes amounts related to Market value adjustments;
		•		Interest expense on debt excludes certain amounts related to securitization entities that are VIEs consolidated under GAAP (“Securitization entities debt expense”); and
		•		Other expenses excludes costs related to: (i) noncontrolling interests, (ii) implementation of new insurance regulatory requirements (“Regulatory implementation costs”), and (iii) acquisition and integration costs.
		We believe the presentation of operating earnings and operating earnings available to common shareholders as we measure it for management purposes enhances the understanding of our performance by highlighting the results of operations and the underlying profitability drivers of our business. Operating revenues, operating expenses, operating earnings, operating earnings available to common shareholders, operating earnings available to common shareholders per diluted common share, book value per common share, excluding accumulated other comprehensive income (loss) (“AOCI”), and book value per diluted common share, excluding AOCI, should not be viewed as substitutes for the following financial measures calculated in accordance with GAAP: GAAP revenues, GAAP expenses, GAAP income (loss) from continuing operations, net of income tax, GAAP net income (loss) available to MetLife, Inc.’s common shareholders, GAAP net income (loss) available to MetLife, Inc.’s common shareholders per diluted common share, book value per common share and book value per diluted common share, respectively.

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	METLIFE, INC. (1)
	CORPORATE OVERVIEW
			For the Three Months Ended
	Unaudited (In millions, except per share data)		September 30, 2011		December 31, 2011		March 31, 2012		June 30, 2012

	Operating earnings available to common shareholders	$	965	$	1,244	$	1,464	$	1,432
	Preferred stock dividends		30		31		30		31
	Operating earnings		995		1,275		1,494		1,463
	Adjustments from operating earnings to income (loss) from continuing operations:
	Net investment gains (losses)		(55)		(558)		(110)		(64)
	Net derivative gains (losses)		4,196		591		(1,978)		2,092
	Other adjustments to continuing operations		(345)		(536)		(411)		(736)
	Provision for income tax (expense) benefit		(1,349)		191		871		(455)
	Income (loss) from continuing operations, net of income tax		3,442		963		(134)		2,300
	Income (loss) from discontinued operations, net of income tax		8		25		14		3
	Net income (loss)		3,450		988		(120)		2,303
	Less: Net income (loss) attributable to noncontrolling interest		(6)		(2)		24		8
	Net income (loss) attributable to MetLife, Inc.		3,456		990		(144)		2,295
	Less: Preferred stock dividends		30		31		30		31
	Less: Preferred stock redemption premium		-		-		-		-
	Net income (loss) available to MetLife, Inc.’s common shareholders	$	3,426	$	959	$	(174)	$	2,264


	Operating earnings available to common shareholders per common share - diluted (2), (3)	$	0.91	$	1.17	$	1.37	$	1.34
	Net investment gains (losses)		(0.05)		(0.52)		(0.10)		(0.06)
	Net derivative gains (losses)		3.94		0.55		(1.85)		1.96
	Other adjustments to continuing operations		(0.33)		(0.50)		(0.38)		(0.68)
	Provision for income tax (expense) benefit		(1.28)		0.18		0.81		(0.43)
	Discontinued operations, net of income tax		0.01		0.02		0.01		-
	Less: Net income (loss) attributable to noncontrolling interest		(0.01)		-		0.02		0.01
	Less: Preferred stock redemption premium		-		-		-		-
	Net income (loss) available to MetLife, Inc.’s common shareholders per common share - diluted (2), (3)	$	3.21	$	0.90	$	(0.16)	$	2.12

	Weighted average common shares outstanding - diluted		1,066.2		1,066.3		1,070.9		1,070.0

	Unaudited		September 30, 2011		December 31, 2011		March 31, 2012		June 30, 2012

	Book value per common share - (actual common shares outstanding) (4)	$	53.15	$	52.43	$	53.37	$	56.83
	Book value per common share, excluding accumulated other comprehensive income (loss) - (actual common shares outstanding) (4)	$	46.50	$	46.69	$	46.52	$	48.60
	Book value per common share - diluted - (weighted average common shares outstanding) (4)	$	52.72	$	52.03	$	52.87	$	56.41
	Book value per common share, excluding accumulated other comprehensive income (loss) - diluted - (weighted average common shares outstanding) (4)	$	46.13	$	46.32	$	46.09	$	48.25

		For the Three Months Ended
	Unaudited (In millions)		September 30, 2011		December 31, 2011		March 31, 2012		June 30, 2012

	Common shares outstanding, beginning of period		1,057.4		1,057.6		1,058.0		1,060.9
	Newly issued shares		0.2		0.4		2.9		1.3
	Common shares outstanding, end of period		1,057.6		1,058.0		1,060.9		1,062.2

	Weighted average common shares outstanding - basic		1,060.2		1,060.4		1,064.3		1,064.7
	Dilutive effect of stock purchase contracts underlying common equity units (2)		-		-		-		-
	Dilutive effect of the exercise or issuance of stock-based awards (3)		6.0		5.9		6.6		5.3
	Weighted average common shares outstanding - diluted		1,066.2		1,066.3		1,070.9		1,070.0

	Policyholder Trust Shares		215.3		212.9		209.7		207.5

(1)	Certain amounts in the prior periods have been revised. In the third quarter of 2012, MetLife, Inc. began reporting additional MetLife Bank, National Association ("MetLife Bank") operations as Divested businesses.
(2)	For the three months ended September 30, 2011, December 31, 2011, March 31, 2012 and June 30, 2012, all shares related to the assumed issuance of shares in settlement of the applicable purchase contracts of the common equity units have been excluded from the weighted average common shares outstanding - diluted, as these assumed shares would be anti-dilutive to operating earnings available to common shareholders per common share - diluted and net income (loss) available to MetLife, Inc.’s common shareholders per common share - diluted.
(3)	For the three months ended March 31, 2012, 6.6 million shares, related to the assumed exercise or issuance of stock-based awards have been excluded from the weighted average common shares outstanding - diluted, as to include these assumed shares would be anti-dilutive to net income (loss) available to MetLife, Inc.'s common shareholders per common share - diluted. These shares were included in the calculation of operating earnings available to common shareholders per common share - diluted.
(4)	Book value per common share, book value per common share, excluding AOCI, book value per common share - diluted and book value per common share, excluding AOCI - diluted exclude $2,043 million of equity related to preferred stock.

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METLIFE, INC.
CONSOLIDATED BALANCE SHEETS

	Unaudited (In millions)		September 30, 2011			December 31, 2011			March 31, 2012			June 30, 2012

	ASSETS
	Investments:
	Fixed maturity securities available-for-sale, at estimated fair value	$	353,927		$	350,271		$	354,451		$	366,339
	Equity securities available-for-sale, at estimated fair value		3,118			3,023			3,043			2,882
	Trading and other securities, at estimated fair value (1)		18,698			18,268			19,026			18,328
	Mortgage loans:
	Held-for-investment, principally at amortized cost (1)		59,209			56,915			56,641			57,201
	Held-for-sale, principally at estimated fair value (2)		3,740			15,178			11,947			1,740
	Mortgage loans, net		62,949			72,093			68,588			58,941
	Policy loans		11,932			11,892			11,896			11,912
	Real estate and real estate joint ventures		8,197			8,563			8,472			8,477
	Other limited partnership interests		6,538			6,378			6,487			6,726
	Short-term investments, principally at estimated fair value		15,913			17,310			11,801			18,526
	Other invested assets, principally at estimated fair value		23,103			23,581			20,172			24,288
	Total investments		504,375			511,379			503,936			516,419
	Cash and cash equivalents, principally at estimated fair value (1)		10,001			10,461			18,667			16,035
	Accrued investment income		4,793			4,344			4,612			4,404
	Premiums, reinsurance and other receivables		23,137			22,481			23,759			23,974
	Deferred policy acquisition costs and value of business acquired		24,516			24,619			25,105			24,505
	Goodwill		12,006			11,935			11,903			11,823
	Other assets		8,340			7,984			9,647			7,711
	Assets of subsidiaries held-for-sale		3,421			-			-			-
	Separate account assets		191,499			203,023			221,975			220,317
	Total assets	$	782,088		$	796,226		$	819,604		$	825,188

	LIABILITIES AND EQUITY
	Liabilities
	Future policy benefits	$	182,756		$	184,275		$	184,141		$	188,509
	Policyholder account balances		217,764			217,700			220,813			225,909
	Other policy-related balances		15,451			15,599			16,029			15,664
	Policyholder dividends payable		871			774			761			786
	Policyholder dividend obligation		2,782			2,919			2,700			3,369
	Payables for collateral under securities loaned and other transactions		34,933			33,716			32,496			40,302
	Bank deposits		10,685			10,507			10,478			6,832
	Short-term debt		451			686			101			101
	Long-term debt (1)		24,753			23,692			23,389			18,879
	Collateral financing arrangements		5,297			4,647			4,647			4,196
	Junior subordinated debt securities		3,192			3,192			3,192			3,192
	Current income tax payable		385			193			239			310
	Deferred income tax liability		6,155			6,395			6,375			8,603
	Other liabilities (2)		23,121			30,914			33,144			25,395
	Liabilities of subsidiaries held-for-sale		3,221			-			-			-
	Separate account liabilities		191,499			203,023			221,975			220,317
	Total liabilities		723,316			738,232			760,480			762,364

	Redeemable noncontrolling interests in partially owned consolidated subsidiaries		130			105			114			95

	Equity
	Preferred stock, at par value		1			1			1			1
	Convertible preferred stock, at par value		-			-			-			-
	Common stock, at par value		11			11			11			11
	Additional paid-in capital		26,744			26,782			26,920			26,927
	Retained earnings		24,642			24,814			24,640			26,904
	Treasury stock, at cost		(172	)		(172	)		(172	)		(172	)
	Accumulated other comprehensive income (loss)		7,024			6,083			7,266			8,735
	Total MetLife, Inc.’s stockholders’ equity		58,250			57,519			58,666			62,406
	Noncontrolling interests		392			370			344			323
	Total equity		58,642			57,889			59,010			62,729
	Total liabilities and equity	$	782,088		$	796,226		$	819,604		$	825,188
(1) At September 30, 2011, December 31, 2011, March 31, 2012 and June 30, 2012, $3,380 million, $3,276 million, $3,116 million and $3,023 million, respectively, of assets and $3,157 million, $3,068 million, $2,916 million and $2,821 million, respectively, of liabilities are included related to certain securitization entities that are required to be consolidated under GAAP. See Pages 25 and 26, note 3 for the amounts by asset category.
(2) At December 31, 2011, March 31, 2012 and June 30, 2012, $7,652 million, $8,283 million and $259 million, respectively, of assets and $7,626 million, $8,252 million and $257 million, respectively, of liabilities are included related to securitized reverse residential mortgage loans which have been sold, but do not qualify for de-recognition.

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	METLIFE, INC. (1)
	CONSOLIDATED STATEMENTS OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS
		For the Three Months Ended
	Unaudited (In millions)	September 30, 2011			December 31, 2011			March 31, 2012			June 30, 2012

	OPERATING REVENUES
	Premiums	$	9,319		$	9,148		$	9,107		$	9,139
	Universal life and investment-type product policy fees		1,906			1,882			2,009			1,999
	Net investment income		4,961			4,892			5,077			5,172
	Other revenues		418			420			452			426
	Total operating revenues		16,604			16,342			16,645			16,736

	OPERATING EXPENSES
	Policyholder benefits and claims and policyholder dividends		9,604			8,926			8,939			9,132
	Interest credited to policyholder account balances		1,534			1,536			1,539			1,525
	Capitalization of DAC		(1,524	)		(1,398	)		(1,362	)		(1,313	)
	Amortization of DAC and VOBA		1,162			1,060			1,018			1,162
	Amortization of negative VOBA		(150	)		(143	)		(137	)		(164	)
	Interest expense on debt		327			326			315			297
	Other expenses		4,332			4,257			4,243			4,051
	Total operating expenses		15,285			14,564			14,555			14,690

	Operating earnings before provision for income tax		1,319			1,778			2,090			2,046
	Provision for income tax expense (benefit)		324			503			596			583
	Operating earnings		995			1,275			1,494			1,463
	Preferred stock dividends		30			31			30			31
	OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS	$	965		$	1,244		$	1,464		$	1,432

	Reconciliation to Net Income (Loss) and Financial Statement Line Item Adjustments from GAAP
	Operating earnings	$	995		$	1,275		$	1,494		$	1,463
	Adjustments from operating earnings to income (loss) from continuing operations:
	Net investment gains (losses)		(55	)		(558	)		(110	)		(64	)
	Net derivative gains (losses)		4,196			591			(1,978	)		2,092
	Premiums		23			23			22			22
	Universal life and investment-type product policy fees		92			68			69			98
	Net investment income		(709	)		35			1,123			(453	)
	Other revenues		302			234			145			(33	)
	Policyholder benefits and claims and policyholder dividends		202			(485	)		(508	)		(131	)
	Interest credited to policyholder account balances		796			37			(1,018	)		503
	Capitalization of DAC		3			2			2			2
	Amortization of DAC and VOBA		(556	)		73			304			(317	)
	Amortization of negative VOBA		20			18			18			17
	Interest expense on debt		(98	)		(43	)		(43	)		(45	)
	Other expenses		(420	)		(498	)		(525	)		(399	)
	Provision for income tax (expense) benefit		(1,349	)		191			871			(455	)
	Income (loss) from continuing operations, net of income tax		3,442			963			(134	)		2,300
	Income (loss) from discontinued operations, net of income tax		8			25			14			3
	Net income (loss)		3,450			988			(120	)		2,303
	Less: Net income (loss) attributable to noncontrolling interest		(6	)		(2	)		24			8
	Net income (loss) attributable to MetLife, Inc.		3,456			990			(144	)		2,295
	Less: Preferred stock dividends		30			31			30			31
	Less: Preferred stock redemption premium		-			-			-			-
	Net income (loss) available to MetLife, Inc.’s common shareholders	$	3,426		$	959		$	(174	)	$	2,264

	Total Operating Premiums, Fees and Other Revenues	$	11,643		$	11,450		$	11,568		$	11,564

(1) Certain amounts in the prior periods have been revised. In the third quarter of 2012, MetLife, Inc. began reporting additional MetLife Bank operations as Divested businesses.

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METLIFE, INC.
CONSOLIDATING STATEMENT OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS
	For the Three Months Ended September 30, 2011
Unaudited (In millions)	Consolidated (1)			The Americas			Asia (2)			EMEA (2)			Corporate & Other (1)

OPERATING REVENUES
Premiums	$	9,319		$	6,708		$	1,967		$	630		$	14
Universal life and investment-type product policy fees		1,906			1,443			357			67			39
Net investment income		4,961			3,954			643			151			213
Other revenues		418			370			8			29			11
Total operating revenues		16,604			12,475			2,975			877			277

OPERATING EXPENSES
Policyholder benefits and claims and policyholder dividends		9,604			7,877			1,325			341			61
Interest credited to policyholder account balances		1,534			1,085			414			35			-
Capitalization of DAC		(1,524	)		(791	)		(576	)		(157	)		-
Amortization of DAC and VOBA		1,162			613			407			142			-
Amortization of negative VOBA		(150	)		-			(137	)		(13	)		-
Interest expense on debt		327			2			-			-			325
Other expenses		4,332			2,543			1,213			423			153
Total operating expenses		15,285			11,329			2,646			771			539

Operating earnings before provision for income tax		1,319			1,146			329			106			(262)
Provision for income tax expense (benefit)		324			366			107			41			(190)
Operating earnings		995			780			222			65			(72)
Preferred stock dividends		30			-			-			-			30
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS	$	965		$	780		$	222		$	65		$	(102)

Reconciliation to Net Income (Loss) and Financial Statement Line Item Adjustments from GAAP
Operating earnings	$	995		$	780		$	222		$	65		$	(72)
Adjustments from operating earnings to income (loss) from continuing operations:
Net investment gains (losses)		(55	)		108			(34	)		(220	)		91
Net derivative gains (losses)		4,196			2,910			168			22			1,096
Premiums		23			23			-			-			-
Universal life and investment-type product policy fees		92			92			-			-			-
Net investment income		(709	)		(64	)		(443	)		(388	)		186
Other revenues		302			-			5			-			297
Policyholder benefits and claims and policyholder dividends		202			211			(9	)		-			-
Interest credited to policyholder account balances		796			(9	)		421			384			-
Capitalization of DAC		3			3			-			-			-
Amortization of DAC and VOBA		(556	)		(536	)		(20	)		-			-
Amortization of negative VOBA		20			1			19			-			-
Interest expense on debt		(98	)		-			-			-			(98)
Other expenses		(420	)		(8	)		1			(21	)		(392)
Provision for income tax (expense) benefit		(1,349	)		(978	)		(55	)		84			(400)
Income (loss) from continuing operations, net of income tax		3,442			2,533			275			(74	)		708
Income (loss) from discontinued operations, net of income tax		8			16			(11	)		-			3
Net income (loss)		3,450			2,549			264			(74	)		711
Less: Net income (loss) attributable to noncontrolling interest		(6	)		3			1			(11	)		1
Net income (loss) attributable to MetLife, Inc.		3,456			2,546			263			(63	)		710
Less: Preferred stock dividends		30			-			-			-			30
Less: Preferred stock redemption premium		-			-			-			-			-
Net income (loss) available to MetLife, Inc.'s common shareholders	$	3,426		$	2,546		$	263		$	(63	)	$	680

Total Operating Premiums, Fees and Other Revenues	$	11,643		$	8,521		$	2,332		$	726		$	64

(1) Certain amounts in the prior periods have been revised. In the third quarter of 2012, MetLife, Inc. began reporting additional MetLife Bank operations as Divested businesses. (2) Certain amounts in prior periods have been revised. In the third quarter of 2012, MetLife, Inc. further realigned certain businesses among its existing segments to better conform to the way it manages and assesses its business, and began reporting the results of South Asia and India in the Asia segment, which were previously reported in the EMEA segment.

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METLIFE, INC. CONSOLIDATING STATEMENT OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS

	For the Year Ended December 31, 2011
Unaudited (In millions)	Consolidated (1)			The Americas			Asia (2)			EMEA (2)			Corporate & Other (1)

OPERATING REVENUES
Premiums	$	36,269		$	26,022		$	7,716		$	2,477		$	54
Universal life and investment-type product policy fees		7,528			5,715			1,343			315			155
Net investment income		19,638			15,713			2,475			562			888
Other revenues		1,652			1,433			36			123			60
Total operating revenues		65,087			48,883			11,570			3,477			1,157

OPERATING EXPENSES
Policyholder benefits and claims and policyholder dividends		36,241			29,586			5,239			1,290			126
Interest credited to policyholder account balances		6,057			4,284			1,607			166			-
Capitalization of DAC		(5,549	)		(2,835	)		(2,045	)		(669	)		-
Amortization of DAC and VOBA		4,355			2,255			1,486			613			1
Amortization of negative VOBA		(619	)		(6	)		(560	)		(53	)		-
Interest expense on debt		1,304			11			-			-			1,293
Other expenses		16,620			9,870			4,522			1,723			505
Total operating expenses		58,409			43,165			10,249			3,070			1,925

Operating earnings before provision for income tax		6,678			5,718			1,321			407			(768)
Provision for income tax expense (benefit)		1,879			1,866			441			156			(584)
Operating earnings		4,799			3,852			880			251			(184)
Preferred stock dividends		122			-			-			-			122
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS	$	4,677		$	3,852		$	880		$	251		$	(306)

Reconciliation to Net Income (Loss) and Financial Statement Line Item Adjustments from GAAP
Operating earnings	$	4,799		$	3,852		$	880		$	251		$	(184)
Adjustments from operating earnings to income (loss) from continuing operations:
Net investment gains (losses)		(867	)		145			(305	)		(525	)		(182)
Net derivative gains (losses)		4,824			3,914			202			32			676
Premiums		92			92			-			-			-
Universal life and investment-type product policy fees		278			278			-			-			-
Net investment income		(53	)		(182	)		(521	)		(27	)		677
Other revenues		880			(1	)		13			(1	)		869
Policyholder benefits and claims and policyholder dividends		(676	)		(628	)		(48	)		-			-
Interest credited to policyholder account balances		454			(97	)		512			39			-
Capitalization of DAC		9			9			-			-			-
Amortization of DAC and VOBA		(543	)		(524	)		(19	)		-			-
Amortization of negative VOBA		78			4			74			-			-
Interest expense on debt		(325	)		-			-			-			(325)
Other expenses		(1,645	)		(58	)		3			(86	)		(1,504)
Provision for income tax (expense) benefit		(914	)		(1,082	)		44			164			(40)
Income (loss) from continuing operations, net of income tax		6,391			5,722			835			(153	)		(13)
Income (loss) from discontinued operations, net of income tax		24			64			(44	)		-			4
Net income (loss)		6,415			5,786			791			(153	)		(9)
Less: Net income (loss) attributable to noncontrolling interest		(8	)		(3	)		9			(12	)		(2)
Net income (loss) attributable to MetLife, Inc.		6,423			5,789			782			(141	)		(7)
Less: Preferred stock dividends		122			-			-			-			122
Less: Preferred stock redemption premium		146			-			-			-			146
Net income (loss) available to MetLife, Inc.'s common shareholders	$	6,155		$	5,789		$	782		$	(141	)	$	(275)

Total Operating Premiums, Fees and Other Revenues	$	45,449		$	33,170		$	9,095		$	2,915		$	269
(1) Certain amounts in the prior periods have been revised. In the third quarter of 2012, MetLife, Inc. began reporting additional MetLife Bank operations as Divested businesses. (2) Certain amounts in prior periods have been revised. In the third quarter of 2012, MetLife, Inc. further realigned certain businesses among its existing segments to better conform to the way it manages and assesses its business, and began reporting the results of South Asia and India in the Asia segment, which were previously reported in the EMEA segment.

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METLIFE, INC.
SUMMARY OF SEGMENT OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS (1)
		For the Three Months Ended
	Unaudited (In millions)	September 30, 2011			December 31, 2011			March 31, 2012			June 30, 2012

	THE AMERICAS

	RETAIL (2)		$ 214			$ 444			$ 469		$ 408

	GROUP, VOLUNTARY & WORKSITE BENEFITS (2)		153			240			243		267

	CORPORATE BENEFIT FUNDING		272			226			298		318

	LATIN AMERICA		141			123			148		135

	THE AMERICAS TOTAL		$ 780			$ 1,033			$ 1,158		$ 1,128

	ASIA (3)		222			259			301		279

	EMEA (3)		65			47			72		78

	CORPORATE & OTHER (4)		(102	)		(95	)		(67	)	(53)

	METLIFE, INC. CONSOLIDATED (4)		$ 965			$ 1,244			$ 1,464		$ 1,432

	(1) A reconciliation of operating earnings available to common shareholders to net income (loss) available to MetLife, Inc.'s common shareholders for each segment and Corporate & Other appears in the QFS as follows: (i) Retail, Page 9, (ii) Group, Voluntary & Worksite Benefits, Page 15, (iii) Corporate Benefit Funding, Page 18, (iv) Latin America, Page 21, (v) Asia, Page 22, (vi) EMEA, Page 23, and (vii) Corporate & Other, Page 24. A consolidated reconciliation of operating earnings available to common shareholders to net income (loss) available to MetLife, Inc.'s common shareholders appears on Page 5.
	(2) Certain amounts in prior periods have been revised. In the third quarter of 2012, MetLife, Inc. further realigned certain products among its existing segments to better conform to the way it manages and assesses its business, and began reporting certain individual disability income and property & casualty products in the Retail segment, which were previously reported in the Group, Voluntary & Worksite Benefits segment.
	(3) Certain amounts in prior periods have been revised. In the third quarter of 2012, MetLife, Inc. further realigned certain businesses among its existing segments to better conform to the way it manages and assesses its business, and began reporting the results of South Asia and India in the Asia segment, which were previously reported in the EMEA segment.
	(4) Certain amounts in the prior periods have been revised. In the third quarter of 2012, MetLife, Inc. began reporting additional MetLife Bank operations as Divested businesses.

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THE AMERICAS RETAIL (1) STATEMENTS OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS
	For the Three Months Ended												For the Year Ended
Unaudited (In millions, except ratios)	September 30, 2011			December 31, 2011			March 31, 2012			June 30, 2012			December 31, 2011

OPERATING REVENUES
Premiums	$	1,770		$	1,804		$	1,624		$	1,576		$	6,711
Universal life and investment-type product policy fees		1,027			1,046			1,114			1,119			4,096
Net investment income		1,842			1,829			1,911			1,894			7,414
Other revenues		204			196			209			217			779
Total operating revenues		4,843			4,875			4,858			4,806			19,000

OPERATING EXPENSES
Policyholder benefits and claims and policyholder dividends		2,523			2,207			2,228			2,212			9,220
Interest credited to policyholder account balances		617			609			596			590			2,412
Capitalization of DAC		(660	)		(611	)		(476	)		(446	)		(2,339	)
Amortization of DAC and VOBA		521			482			404			477			1,845
Amortization of negative VOBA		-			-			-			-			-
Interest expense on debt		-			1			-			-			1
Other expenses		1,527			1,514			1,397			1,355			5,854
Total operating expenses		4,528			4,202			4,149			4,188			16,993

Operating earnings before provision for income tax		315			673			709			618			2,007
Provision for income tax expense (benefit)		101			229			240			210			672
Operating earnings		214			444			469			408			1,335
Preferred stock dividends		-			-			-			-			-
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS	$	214		$	444		$	469		$	408		$	1,335

Reconciliation to Net Income (Loss) and Financial Statement Line Item Adjustments from GAAP
Operating earnings	$	214		$	444		$	469		$	408		$	1,335
Adjustments from operating earnings to income (loss) from continuing operations:
Net investment gains (losses)		48			24			67			58			158
Net derivative gains (losses)		1,474			562			(526	)		972			2,321
Premiums		-			-			-			-			-
Universal life and investment-type product policy fees		90			66			67			82			270
Net investment income		(70	)		(82	)		(84	)		(94	)		(258	)
Other revenues		-			-			-			-			-
Policyholder benefits and claims and policyholder dividends		407			(449	)		(393	)		50			(201	)
Interest credited to policyholder account balances		-			-			-			-			-
Capitalization of DAC		-			-			-			-			-
Amortization of DAC and VOBA		(535	)		73			304			(300	)		(520	)
Amortization of negative VOBA		-			-			-			-			-
Interest expense on debt		-			-			-			-			-
Other expenses		-			-			-			-			-
Provision for income tax (expense) benefit		(494	)		(69	)		198			(269	)		(619	)
Income (loss) from continuing operations, net of income tax		1,134			569			102			907			2,486
Income (loss) from discontinued operations, net of income tax		8			(2	)		10			-			35
Net income (loss)		1,142			567			112			907			2,521
Less: Net income (loss) attributable to noncontrolling interest		1			-			-			-			1
Net income (loss) attributable to MetLife, Inc.		1,141			567			112			907			2,520
Less: Preferred stock dividends		-			-			-			-			-
Less: Preferred stock redemption premium		-			-			-			-			-
Net income (loss) available to MetLife, Inc.’s common shareholders	$	1,141		$	567		$	112		$	907		$	2,520

Total Operating Premiums, Fees and Other Revenues	$	3,001		$	3,046		$	2,947		$	2,912		$	11,586
(1) Certain amounts in prior periods have been revised. In the third quarter of 2012, MetLife, Inc. further realigned certain products among its existing segments to better conform to the way it manages and assesses its business, and began reporting certain individual disability income and property & casualty products in the Retail segment, which were previously reported in the Group, Voluntary & Worksite Benefits segment.

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	THE AMERICAS RETAIL - LIFE & OTHER (1) STATEMENTS OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS - PRODUCT LEVEL
			For the Three Months Ended												For the Year Ended
	Unaudited (In millions, except ratios)	September 30, 2011			December 31, 2011			March 31, 2012			June 30, 2012			December 31, 2011

	OPERATING REVENUES
	Premiums	$	1,488		$	1,596		$	1,447		$	1,476		$	6,000
	Universal life and investment-type product policy fees		407			412			413			410			1,634
	Net investment income		1,128			1,093			1,151			1,144			4,544
	Other revenues		127			116			124			129			472
	Total operating revenues		3,150			3,217			3,135			3,159			12,650

	OPERATING EXPENSES
	Policyholder benefits and claims and policyholder dividends		2,110			1,891			1,940			1,980			8,067
	Interest credited to policyholder account balances		209			211			216			213			819
	Capitalization of DAC		(210	)		(221	)		(194	)		(198	)		(848	)
	Amortization of DAC and VOBA		202			278			219			219			930
	Amortization of negative VOBA		-			-			-			-			-
	Interest expense on debt		-			-			-			(1	)		-
	Other expenses		669			706			679			675			2,737
	Total operating expenses		2,980			2,865			2,860			2,888			11,705

	Operating earnings before provision for income tax		170			352			275			271			945
	Provision for income tax expense (benefit)		49			117			88			89			299
	Operating earnings		121			235			187			182			646
	Preferred stock dividends		-			-			-			-			-
	OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS	$	121		$	235		$	187		$	182		$	646

	Reconciliation to Net Income (Loss) and Financial Statement Line Item Adjustments from GAAP
	Operating earnings	$	121		$	235		$	187		$	182		$	646
	Adjustments from operating earnings to income (loss) from continuing operations:
	Net investment gains (losses)		25			9			37			23			70
	Net derivative gains (losses)		556			44			(169	)		322			634
	Premiums		-			-			-			-			-
	Universal life and investment-type product policy fees		16			-			(5	)		8			14
	Net investment income		(25	)		(25	)		(24	)		(32	)		(89	)
	Other revenues		-			-			-			-			-
	Policyholder benefits and claims and policyholder dividends		-			-			-			-			-
	Interest credited to policyholder account balances		-			-			-			-			-
	Capitalization of DAC		-			-			-			-			-
	Amortization of DAC and VOBA		(51	)		117			11			(25	)		63
	Amortization of negative VOBA		-			-			-			-			-
	Interest expense on debt		-			-			-			-			-
	Other expenses		-			-			-			-			-
	Provision for income tax (expense) benefit		(184	)		(51	)		53			(104	)		(244	)
	Income (loss) from continuing operations, net of income tax		458			329			90			374			1,094
	Income (loss) from discontinued operations, net of income tax		8			(2	)		9			-			35
	Net income (loss)		466			327			99			374			1,129
	Less: Net income (loss) attributable to noncontrolling interest		-			2			-			-			2
	Net income (loss) attributable to MetLife, Inc.		466			325			99			374			1,127
	Less: Preferred stock dividends		-			-			-			-			-
	Less: Preferred stock redemption premium		-			-			-			-			-
	Net income (loss) available to MetLife, Inc.'s common shareholders	$	466		$	325		$	99		$	374		$	1,127

	Total Operating Premiums, Fees and Other Revenues	$	2,022		$	2,124		$	1,984		$	2,015		$	8,106
(1) Certain amounts in prior periods have been revised. In the third quarter of 2012, MetLife, Inc. further realigned certain products among its existing segments to better conform to the way it manages and assesses its business, and began reporting certain individual disability income and property & casualty products in the Retail segment, which were previously reported in the Group, Voluntary & Worksite Benefits segment.

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THE AMERICAS
RETAIL - ANNUITIES
STATEMENTS OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS - PRODUCT LEVEL
	For the Three Months Ended												For the Year Ended
Unaudited (In millions, except ratios)	September 30, 2011			December 31, 2011			March 31, 2012			June 30, 2012			December 31, 2011


OPERATING REVENUES
Premiums	$	282		$	208		$	177		$	100		$	711
Universal life and investment-type product policy fees		620			634			701			709			2,462
Net investment income		714			736			760			750			2,870
Other revenues		77			80			85			88			307
Total operating revenues		1,693			1,658			1,723			1,647			6,350

OPERATING EXPENSES
Policyholder benefits and claims and policyholder dividends		413			316			288			232			1,153
Interest credited to policyholder account balances		408			398			380			377			1,593
Capitalization of DAC		(450	)		(390	)		(282	)		(248	)		(1,491	)
Amortization of DAC and VOBA		319			204			185			258			915
Amortization of negative VOBA		-			-			-			-			-
Interest expense on debt		-			1			-			1			1
Other expenses		858			808			718			680			3,117
Total operating expenses		1,548			1,337			1,289			1,300			5,288

Operating earnings before provision for income tax		145			321			434			347			1,062
Provision for income tax expense (benefit)		52			112			152			121			373
Operating earnings		93			209			282			226			689
Preferred stock dividends		-			-			-			-			-
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS	$	93		$	209		$	282		$	226		$	689


Reconciliation to Net Income (Loss) and Financial Statement Line Item Adjustments from GAAP
Operating earnings	$	93		$	209		$	282		$	226		$	689
Adjustments from operating earnings to income (loss) from continuing operations:
Net investment gains (losses)		23			15			30			35			88
Net derivative gains (losses)		918			518			(357	)		650			1,687
Premiums		-			-			-			-			-
Universal life and investment-type product policy fees		74			66			72			74			256
Net investment income		(45	)		(57	)		(60	)		(62	)		(169	)
Other revenues		-			-			-			-			-
Policyholder benefits and claims and policyholder dividends		407			(449	)		(393	)		50			(201	)
Interest credited to policyholder account balances		-			-			-			-			-
Capitalization of DAC		-			-			-			-			-
Amortization of DAC and VOBA		(484	)		(44	)		293			(275	)		(583	)
Amortization of negative VOBA		-			-			-			-			-
Interest expense on debt		-			-			-			-			-
Other expenses		-			-			-			-			-
Provision for income tax (expense) benefit		(310	)		(18	)		145			(165	)		(375	)
Income (loss) from continuing operations, net of income tax		676			240			12			533			1,392
Income (loss) from discontinued operations, net of income tax		-			-			1			-			-
Net income (loss)		676			240			13			533			1,392
Less: Net income (loss) attributable to noncontrolling interest		1			(2	)		-			-			(1	)
Net income (loss) attributable to MetLife, Inc.		675			242			13			533			1,393
Less: Preferred stock dividends		-			-			-			-			-
Less: Preferred stock redemption premium		-			-			-			-			-
Net income (loss) available to MetLife, Inc.'s common shareholders	$	675		$	242		$	13		$	533		$	1,393

Total Operating Premiums, Fees and Other Revenues	$	979		$	922		$	963		$	897		$	3,480

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THE AMERICAS RETAIL FUTURE POLICY BENEFITS AND POLICYHOLDER ACCOUNT BALANCES; AND SEPARATE ACCOUNT LIABILITIES FUTURE POLICY BENEFITS AND POLICYHOLDER ACCOUNT BALANCES LIFE & OTHER (1), (2)
	For the Three Months Ended
Unaudited (In millions)		September 30, 2011			December 31, 2011			March 31, 2012			June 30, 2012
Balance, beginning of period	$	81,353		$	81,832		$	82,105		$	82,622
Premiums and deposits (3), (4)		2,164			2,259			2,137			2,124
Surrenders and withdrawals		(905	)		(887	)		(886	)		(913	)
Benefit payments		(757	)		(735	)		(741	)		(685	)

Net Flows		502			637			510			526
Net transfers from (to) separate account		27			27			28			23
Interest		798			802			810			806
Policy charges		(435	)		(446	)		(445	)		(443	)
Other		(413	)		(747	)		(386	)		(471	)

Balance, end of period	$	81,832		$	82,105		$	82,622		$	83,063
ANNUITIES
	For the Three Months Ended
Unaudited (In millions)		September 30, 2011			December 31, 2011			March 31, 2012			June 30, 2012
Balance, beginning of period	$	50,885		$	54,991		$	53,899		$	51,360
Premiums and deposits (3), (4)		2,699			2,216			1,483			1,245
Surrenders and withdrawals		(991	)		(1,300	)		(1,346	)		(905	)
Benefit payments		(384	)		(370	)		(400	)		(391	)

Net Flows		1,324			546			(263	)		(51	)
Net transfers from (to) separate account		(624	)		(1,401	)		(1,251	)		(750	)
Interest		484			472			450			444
Policy charges		(19	)		(15	)		(15	)		(16	)
Other		2,941			(694	)		(1,460	)		1,239

Balance, end of period	$	54,991		$	53,899		$	51,360		$	52,226
SEPARATE ACCOUNT LIABILITIES
LIFE & OTHER
	For the Three Months Ended
Unaudited (In millions)		September 30, 2011			December 31, 2011			March 31, 2012			June 30, 2012
Balance, beginning of period	$	9,301		$	8,071		$	7,946		$	8,641
Premiums and deposits (4)		178			240			180			174
Surrenders and withdrawals		(116	)		(109	)		(111	)		(116	)
Benefit payments		(8	)		(8	)		(12	)		(10	)

Net Flows		54			123			57			48
Investment performance		(1,121	)		576			809			(304	)
Net transfers from (to) general account		(27	)		(27	)		(28	)		(23	)
Policy charges		(136	)		(136	)		(134	)		(133	)
Other		-			(661	)		(9	)		3

Balance, end of period	$	8,071		$	7,946		$	8,641		$	8,232
ANNUITIES
	For the Three Months Ended
Unaudited (In millions)		September 30, 2011			December 31, 2011			March 31, 2012			June 30, 2012
Balance, beginning of period	$	118,463		$	108,655		$	120,263		$	133,462
Premiums and deposits (4)		6,787			5,778			4,232			3,870
Surrenders and withdrawals		(2,112	)		(1,993	)		(2,151	)		(2,103	)
Benefit payments		(209	)		(203	)		(242	)		(254	)

Net Flows		4,466			3,582			1,839			1,513
Investment performance		(14,329	)		7,214			10,760			(3,587	)
Net transfers from (to) general account		624			1,401			1,251			750
Policy charges		(574	)		(589	)		(652	)		(723	)
Other		5			-			1			1

Balance, end of period	$	108,655		$	120,263		$	133,462		$	131,416
(1) Certain amounts in prior periods have been revised. In the third quarter of 2012, MetLife, Inc. further realigned certain products among its existing segments to better conform to the way it manages and assesses its business, and began reporting certain individual disability income and property & casualty products in the Retail segment, which were previously reported in the Group, Voluntary & Worksite Benefits segment. (2) All of the property & casualty activity is reflected within the "Other" category. (3) Includes premiums and deposits directed to the General Account investment option of variable products. (4) Includes company sponsored internal exchanges.

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THE AMERICAS RETAIL OTHER EXPENSES BY MAJOR CATEGORY AND SALES BY PRODUCT OTHER EXPENSES (1)
		For the Three Months Ended
	Unaudited (In millions)	September 30, 2011		December 31, 2011		March 31, 2012		June 30, 2012

	Direct and allocated expenses	$	453	$	505	$	491	$ 484
	Pension and post-retirement benefit costs		59		56		57	57
	Premium taxes, other taxes, and licenses & fees		37		50		48	46
	Total fixed operating expenses	$	549	$	611	$	596	$ 587

	Commissions and other variable expenses		978		903		801	768

	Total other expenses	$	1,527	$	1,514	$	1,397	$ 1,355

	SALES BY PRODUCT
		For the Three Months Ended
	Unaudited (In millions)	September 30, 2011		December 31, 2011		March 31, 2012		June 30, 2012

	Life Sales (2)
	Term Life	$	32	$	35	$	34	$ 36
	Whole Life		27		29		28	33
	Variable Life		9		16		8	8
	Universal Life		52		56		42	37
	Total Life sales	$	120	$	136	$	112	$ 114
	Annuity Sales (3)
	Fixed annuity sales	$	506	$	453	$	435	$ 225
	Variable annuity sales		8,559		7,229		4,926	4,613
	Total annuity sales	$	9,065	$	7,682	$	5,361	$ 4,838
	Annuity Separate Account and General Account
	Separate Accounts
	Total variable annuity separate accounts	$	6,442	$	5,538	$	3,964	$ 3,669
	General Accounts
	Fixed annuity		506		453		435	225
	Variable annuity		2,117		1,691		962	944
	Total general accounts		2,623		2,144		1,397	1,169
	Total annuity premiums and deposits	$	9,065	$	7,682	$	5,361	$ 4,838
(1) Certain amounts in prior periods have been revised. In the third quarter of 2012, MetLife, Inc. further realigned certain products among its existing segments to better conform to the way it manages and assesses its business, and began reporting certain individual disability income and property & casualty products in the Retail segment, which were previously reported in the Group, Voluntary & Worksite Benefits segment. (2) Statistical sales information is calculated using the LIMRA International, Inc. definition of sales for core direct sales, excluding company sponsored internal exchanges, corporate-owned life insurance, bank-owned life insurance, and private placement variable universal life insurance. (3) Statutory premiums direct and assumed, excluding company sponsored internal exchanges.

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THE AMERICAS RETAIL SPREAD BY PRODUCT AND OTHER STATISTICAL INFORMATION SPREAD BY PRODUCT VARIABLE & UNIVERSAL LIFE
			For the Three Months Ended
	Unaudited		September 30, 2011		December 31, 2011		March 31, 2012		June 30, 2012

	Investment income yield		6.33%		5.80%		6.42%		6.45%
	Average crediting rate		4.55%		4.49%		4.61%		4.52%
	Annualized general account spread (1)		1.78%		1.31%		1.81%		1.93%

DEFERRED ANNUITIES
			For the Three Months Ended
	Unaudited		September 30, 2011		December 31, 2011		March 31, 2012		June 30, 2012

	Investment income yield		6.07%		6.48%		6.48%		6.42%
	Average crediting rate		3.50%		3.47%		3.39%		3.41%
	Annualized general account spread (2)		2.57%		3.01%		3.09%		3.01%

OTHER STATISTICAL INFORMATION
			For the Three Months Ended
	Unaudited (In millions, except ratios)		September 30, 2011		December 31, 2011		March 31, 2012		June 30, 2012

	Life (3)
	Operating premiums, fees and other revenues	$	1,413	$	1,516	$	1,378	$	1,397
	Life mortality as percentage of expected		98.5%		81.1%		91.6%		85.6%

	Lapse Ratio (4)
	Traditional life		6.8%		6.1%		5.9%		6.0%
	Variable & universal life		5.8%		5.4%		5.3%		5.3%
	Fixed annuity		6.6%		7.8%		9.5%		9.8%
	Variable annuity		6.9%		6.8%		6.5%		6.2%

	Retail Property & Casualty
	Operating premiums, fees and other revenues	$	425	$	423	$	418	$	421
	Combined ratio with catastrophes		107.6%		91.2%		91.2%		105.4%
	Combined ratio without catastrophes		87.4%		88.4%		87.1%		80.8%

(1) This represents the general account spread for variable & universal life, a component of Life & Other. (2) This represents the general account spread for deferred annuities, a component of Annuities. (3) This represents traditional life and variable & universal life, components of Life & Other. (4) Lapse ratios are calculated based on the average of the most recent 12 months of experience.

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THE AMERICAS GROUP, VOLUNTARY & WORKSITE BENEFITS (1) STATEMENTS OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS
		For the Three Months Ended												For the Year Ended
	Unaudited (In millions)	September 30, 2011			December 31, 2011			March 31, 2012			June 30, 2012			December 31, 2011

	OPERATING REVENUES
	Premiums	$	3,431		$	3,491		$	3,585		$	3,683		$	13,949
	Universal life and investment-type product policy fees		159			157			166			165			630
	Net investment income		448			438			436			439			1,768
	Other revenues		97			103			108			112			390
	Total operating revenues		4,135			4,189			4,295			4,399			16,737

	OPERATING EXPENSES
	Policyholder benefits and claims and policyholder dividends		3,319			3,212			3,313			3,391			13,015
	Interest credited to policyholder account balances		46			44			42			43			178
	Capitalization of DAC		(47	)		(32	)		(31	)		(33	)		(176	)
	Amortization of DAC and VOBA		43			46			30			28			186
	Amortization of negative VOBA		-			-			-			-			-
	Interest expense on debt		-			-			-			-			-
	Other expenses		547			559			575			570			2,198
	Total operating expenses		3,908			3,829			3,929			3,999			15,401

	Operating earnings before provision for income tax		227			360			366			400			1,336
	Provision for income tax expense (benefit)		74			120			123			133			445
	Operating earnings		153			240			243			267			891
	Preferred stock dividends		-			-			-			-			-
	OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS	$	153		$	240		$	243		$	267		$	891

	Reconciliation to Net Income (Loss) and Financial Statement Line Item Adjustments from GAAP
	Operating earnings	$	153		$	240		$	243		$	267		$	891
	Adjustments from operating earnings to income (loss) from continuing operations:
	Net investment gains (losses)		(15	)		(10	)		(7	)		13			(26	)
	Net derivative gains (losses)		1,034			114			(375	)		555			1,203
	Premiums		-			-			-			-			-
	Universal life and investment-type product policy fees		-			-			-			-			-
	Net investment income		(36	)		(34	)		(36	)		(38	)		(137	)
	Other revenues		-			-			-			-			-
	Policyholder benefits and claims and policyholder dividends		1			(1	)		-			-			-
	Interest credited to policyholder account balances		-			-			-			-			-
	Capitalization of DAC		-			-			-			-			-
	Amortization of DAC and VOBA		-			-			-			-			-
	Amortization of negative VOBA		-			-			-			-			-
	Interest expense on debt		-			-			-			-			-
	Other expenses		1			(1	)		-			-			-
	Provision for income tax (expense) benefit		(343	)		(23	)		147			(186	)		(363	)
	Income (loss) from continuing operations, net of income tax		795			285			(28	)		611			1,568
	Income (loss) from discontinued operations, net of income tax		2			-			-			-			2
	Net income (loss)		797			285			(28	)		611			1,570
	Less: Net income (loss) attributable to noncontrolling interest		-			(1	)		-			-			(1	)
	Net income (loss) attributable to MetLife, Inc.		797			286			(28	)		611			1,571
	Less: Preferred stock dividends		-			-			-			-			-
	Less: Preferred stock redemption premium		-			-			-			-			-
	Net income (loss) available to MetLife, Inc.'s common shareholders	$	797		$	286		$	(28	)	$	611		$	1,571

	Operating Premiums, Fees and Other Revenues
	Group	$	3,085		$	3,147		$	3,253		$	3,345		$	12,585
	Voluntary & Worksite		602			604			606			615			2,384
	Total Group, Voluntary & Worksite Benefits	$	3,687		$	3,751		$	3,859		$	3,960		$	14,969
	(1) Certain amounts in prior periods have been revised. In the third quarter of 2012, MetLife, Inc. further realigned certain products among its existing segments to better conform to the way it manages and assesses its business, and began reporting certain individual disability income and property & casualty products in the Retail segment, which were previously reported in the Group, Voluntary & Worksite Benefits segment.

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THE AMERICAS GROUP, VOLUNTARY & WORKSITE BENEFITS FUTURE POLICY BENEFITS AND POLICYHOLDER ACCOUNT BALANCES; AND SEPARATE ACCOUNT LIABILITIES

*FUTURE POLICY BENEFITS AND POLICYHOLDER ACCOUNT BALANCES (1), (2)*
		For the Three Months Ended
Unaudited (In millions)		September 30, 2011			December 31, 2011			March 31, 2012			June 30, 2012
Balance, beginning of period	$	25,330		$	25,373		$	25,582		$	25,661
Premiums and deposits		4,276			4,118			4,296			4,330
Surrenders and withdrawals		(1,190	)		(899	)		(909	)		(898	)
Benefit payments		(2,838	)		(2,841	)		(2,984	)		(3,017	)

Net Flows		248			378			403			415
Net transfers from (to) separate account		3			2			-			(1	)
Interest		212			213			212			209
Policy charges		(109	)		(122	)		(125	)		(125	)
Other		(311	)		(262	)		(411	)		483

Balance, end of period	$	25,373		$	25,582		$	25,661		$	26,642

*SEPARATE ACCOUNT LIABILITIES*
	For the Three Months Ended
Unaudited (In millions)	September 30, 2011			December 31, 2011			March 31, 2012			June 30, 2012
Balance, beginning of period	$	516		$	444		$	478		$	528
Premiums and deposits		47			47			49			49
Surrenders and withdrawals		(8	)		(7	)		(12	)		(10	)
Benefit payments		-			-			(1	)		(1	)

Net Flows		39			40			36			38
Investment performance		(70	)		34			53			(18	)
Net transfers from (to) general account		(3	)		(2	)		-			1
Policy charges		(38	)		(38	)		(39	)		(40	)
Other		-			-			-			(1	)

Balance, end of period	$	444		$	478		$	528		$	508

(1) Certain amounts in prior periods have been revised. In the third quarter of 2012, MetLife, Inc. further realigned certain products among its existing segments to better conform to the way it manages and assesses its business, and began reporting certain individual disability income and property & casualty products in the Retail segment, which were previously reported in the Group, Voluntary & Worksite Benefits segment.

(2) All of the property & casualty activity is reflected within the "Other" category.

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THE AMERICAS
GROUP, VOLUNTARY & WORKSITE BENEFITS
OTHER EXPENSES BY MAJOR CATEGORY, SPREAD AND OTHER STATISTICAL INFORMATION

OTHER EXPENSES (1)
		For the Three Months Ended
	Unaudited (In millions)	September 30, 2011			December 31, 2011			March 31, 2012			June 30, 2012

	Direct and allocated expenses	$	380		$	401		$	418		$	399
	Pension and post-retirement benefit costs		21			21			19			19
	Premium taxes, other taxes, and licenses & fees		56			51			55			60
	Total fixed operating expenses	$	457		$	473		$	492		$	478

	Commissions and other variable expenses		90			86			83			92

	Total other expenses	$	547		$	559		$	575		$	570

	SPREAD (2)
		For the Three Months Ended
	Unaudited	September 30, 2011			December 31, 2011			March 31, 2012			June 30, 2012

	Investment income yield		6.29	%		6.05	%		6.01	%		6.02	%
	Average crediting rate		3.33	%		3.29	%		3.29	%		3.29	%
	Annualized general account spread		2.96	%		2.76	%		2.72	%		2.73	%
	OTHER STATISTICAL INFORMATION
		For the Three Months Ended
	Unaudited (In millions, except ratios)	September 30, 2011			December 31, 2011			March 31, 2012			June 30, 2012

	Group Life (3)
	Operating premiums, fees and other revenues	$	1,311		$	1,317		$	1,362		$	1,392
	Mortality ratio		98.5	%		85.2	%		89.1	%		87.3	%

	Group Non-Medical Health (4)
	Operating premiums, fees and other revenues	$	1,372		$	1,372		$	1,415		$	1,497
	Benefit ratio		87.0	%		89.7	%		87.5	%		87.4	%

	Group Property & Casualty
	Operating premiums, fees and other revenues	$	343		$	344		$	343		$	357
	Combined ratio with catastrophes		103.6	%		96.9	%		92.3	%		98.7	%
	Combined ratio without catastrophes		88.6	%		92.4	%		89.8	%		86.6	%
(1)	Certain amounts in prior periods have been revised. In the third quarter of 2012, MetLife, Inc. further realigned certain products among its existing segments to better conform to the way it manages and assesses its business, and began reporting certain individual disability income and property & casualty products in the Retail segment, which were previously reported in the Group, Voluntary & Worksite Benefits segment.
(2)	Excludes property & casualty.
(3)	Excludes accidental death and dismemberment ("AD&D") and certain experience-rated contracts.
(4)	Includes dental, disability, long term care, AD&D, critical illness and vision.

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THE AMERICAS CORPORATE BENEFIT FUNDING STATEMENTS OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS
	For the Three Months Ended												For the Year Ended
Unaudited (In millions)	September 30, 2011			December 31, 2011			March 31, 2012			June 30, 2012			December 31, 2011

OPERATING REVENUES
Premiums	$	835		$	716		$	507		$	523		$	2,848
Universal life and investment-type product policy fees		69			51			51			57			232
Net investment income		1,375			1,337			1,401			1,431			5,506
Other revenues		61			67			64			65			249
Total operating revenues		2,340			2,171			2,023			2,076			8,835

OPERATING EXPENSES
Policyholder benefits and claims and policyholder dividends		1,459			1,362			1,092			1,131			5,287
Interest credited to policyholder account balances		327			330			339			338			1,323
Capitalization of DAC		(6	)		(2	)		(7	)		(8	)		(25	)
Amortization of DAC and VOBA		4			3			10			4			17
Amortization of negative VOBA		-			-			-			-			-
Interest expense on debt		2			2			2			2			9
Other expenses		136			129			128			120			513
Total operating expenses		1,922			1,824			1,564			1,587			7,124

Operating earnings before provision for income tax		418			347			459			489			1,711
Provision for income tax expense (benefit)		146			121			161			171			599
Operating earnings		272			226			298			318			1,112
Preferred stock dividends		-			-			-			-			-
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS	$	272		$	226		$	298		$	318		$	1,112

Reconciliation to Net Income (Loss) and Financial Statement Line Item Adjustments from GAAP
Operating earnings	$	272		$	226		$	298		$	318		$	1,112
Adjustments from operating earnings to income (loss) from continuing operations:
Net investment gains (losses)		83			(66	)		(98	)		144			19
Net derivative gains (losses)		447			146			(243	)		288			426
Premiums		-			-			-			-			-
Universal life and investment-type product policy fees		-			-			-			-			-
Net investment income		35			24			29			10			133
Other revenues		-			-			-			-			-
Policyholder benefits and claims and policyholder dividends		(38	)		7			(6	)		(16	)		(35	)
Interest credited to policyholder account balances		(2	)		(1	)		(2	)		(1	)		(19	)
Capitalization of DAC		-			-			-			-			-
Amortization of DAC and VOBA		-			-			-			-			-
Amortization of negative VOBA		-			-			-			-			-
Interest expense on debt		-			-			-			-			-
Other expenses		3			(4	)		-			-			-
Provision for income tax (expense) benefit		(185	)		(35	)		111			(148	)		(182	)
Income (loss) from continuing operations, net of income tax		615			297			89			595			1,454
Income (loss) from discontinued operations, net of income tax		6			-			4			3			27
Net income (loss)		621			297			93			598			1,481
Less: Net income (loss) attributable to noncontrolling interest		2			(5	)		-			-			(3	)
Net income (loss) attributable to MetLife, Inc.		619			302			93			598			1,484
Less: Preferred stock dividends		-			-			-			-			-
Less: Preferred stock redemption premium		-			-			-			-			-
Net income (loss) available to MetLife, Inc.'s common shareholders	$	619		$	302		$	93		$	598		$	1,484

Total Operating Premiums, Fees and Other Revenues	$	965		$	834		$	622		$	645		$	3,329

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THE AMERICAS CORPORATE BENEFIT FUNDING FUTURE POLICY BENEFITS AND POLICYHOLDER ACCOUNT BALANCES; AND SEPARATE ACCOUNT LIABILITIES
*FUTURE POLICY BENEFITS AND POLICYHOLDER ACCOUNT BALANCES*
	For the Three Months Ended
Unaudited (In millions)	September 30, 2011			December 31, 2011			March 31, 2012			June 30, 2012
Balance, beginning of period	$	104,538		$	104,585		$	106,024		$	108,339
Premiums and deposits		14,309			13,677			17,655			19,383
Surrenders and withdrawals		(17,348	)		(12,491	)		(14,745	)		(14,885	)
Benefit payments		(881	)		(860	)		(838	)		(850	)

Net Flows		(3,920	)		326			2,072			3,648
Net transfers from (to) separate account		(12	)		(31	)		(5	)		(11	)
Interest		1,015			1,010			1,021			1,059
Policy charges		(34	)		(32	)		(21	)		(31	)
Other		2,998			166			(752	)		1,426

Balance, end of period	$	104,585		$	106,024		$	108,339		$	114,430

*SEPARATE ACCOUNT LIABILITIES*
	For the Three Months Ended
Unaudited (In millions)	September 30, 2011			December 31, 2011			March 31, 2012			June 30, 2012
Balance, beginning of period	$	63,252		$	65,054		$	64,851		$	68,635
Premiums and deposits		3,064			1,984			2,383			1,546
Surrenders and withdrawals		(2,050	)		(2,106	)		(1,311	)		(1,198	)
Benefit payments		(17	)		(13	)		(16	)		(17	)

Net Flows		997			(135	)		1,056			331
Investment performance		799			1,354			1,115			1,077
Net transfers from (to) general account		12			31			5			11
Policy charges		(63	)		(79	)		(84	)		(81	)
Other		57			(1,374	)		1,692			(269	)

Balance, end of period	$	65,054		$	64,851		$	68,635		$	69,704

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THE AMERICAS CORPORATE BENEFIT FUNDING OTHER EXPENSES BY MAJOR CATEGORY AND SPREAD OTHER EXPENSES BY MAJOR CATEGORY
		For the Three Months Ended
	Unaudited (In millions)	September 30, 2011	December 31, 2011	March 31, 2012	June 30, 2012

	Direct and allocated expenses	$ 72	$ 84	$ 76	$ 61
	Pension and post-retirement benefit costs	12	12	11	11
	Premium taxes, other taxes, and licenses & fees	10	4	3	5
	Total fixed operating expenses	$ 94	$ 100	$ 90	$ 77

	Commissions and other variable expenses	42	29	38	43
	Total other expenses	$ 136	$ 129	$ 128	$ 120

SPREAD
		For the Three Months Ended
	Unaudited	September 30, 2011	December 31, 2011	March 31, 2012	June 30, 2012

	Investment income yield	5.23%	5.12%	5.35%	5.27%
	Average crediting rate	3.81%	3.87%	3.87%	3.72%
	Annualized general account spread	1.42%	1.25%	1.48%	1.55%

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THE AMERICAS LATIN AMERICA STATEMENTS OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS

	For the Three Months Ended											For the Year Ended
Unaudited (In millions)	September 30, 2011			December 31, 2011		March 31, 2012			June 30, 2012			December 31, 2011

OPERATING REVENUES
Premiums	$	672		$	601	$	686		$	652		$	2,514
Universal life and investment-type product policy fees		188			186		196			196			757
Net investment income		289			298		299			283			1,025
Other revenues		8			1		5			3			15
Total operating revenues		1,157			1,086		1,186			1,134			4,311

OPERATING EXPENSES
Policyholder benefits and claims and policyholder dividends		576			530		592			568			2,064
Interest credited to policyholder account balances		95			91		100			90			371
Capitalization of DAC		(78	)		(64)		(84)			(71	)		(295	)
Amortization of DAC and VOBA		45			53		55			54			207
Amortization of negative VOBA		-			(2)		(2)			(1	)		(6	)
Interest expense on debt		-			-		1			-			1
Other expenses		333			324		326			323			1,305
Total operating expenses		971			932		988			963			3,647
Operating earnings before provision for income tax		186			154		198			171			664
Provision for income tax expense (benefit)		45			31		50			36			150
Operating earnings		141			123		148			135			514
Preferred stock dividends		-			-		-			-			-
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS	$	141		$	123	$	148		$	135		$	514

Reconciliation to Net Income (Loss) and Financial Statement Line Item Adjustments from GAAP
Operating earnings	$	141		$	123	$	148		$	135		$	514
Adjustments from operating earnings to income (loss) from continuing operations:
Net investment gains (losses)		(8	)		(5)		3			(13	)		(6	)
Net derivative gains (losses)		(45	)		6		37			(14	)		(36	)
Premiums		23			23		22			22			92
Universal life and investment-type product policy fees		2			2		3			4			8
Net investment income		7			36		51			26			80
Other revenues		-			(1)		-			1			(1	)
Policyholder benefits and claims and policyholder dividends		(159	)		(21)		(86	)		(144	)		(392	)
Interest credited to policyholder account balances		(7	)		(36)		(51	)		(25	)		(78	)
Capitalization of DAC		3			2		2			2			9
Amortization of DAC and VOBA		(1	)		(1)		(1)			(2	)		(4	)
Amortization of negative VOBA		1			1		1			1			4
Interest expense on debt		-			-		-			-			-
Other expenses		(12	)		(18)		(10	)		(13	)		(58	)
Provision for income tax (expense) benefit		44			(1)		10			38			82
Income (loss) from continuing operations, net of income tax		(11	)		110		129			18			214
Income (loss) from discontinued operations, net of income tax		-			-		-			-			-
Net income (loss)		(11	)		110		129			18			214
Less: Net income (loss) attributable to noncontrolling interest		-			-		-			1			-
Net income (loss) attributable to MetLife, Inc.		(11	)		110		129			17			214
Less: Preferred stock dividends		-			-		-			-			-
Less: Preferred stock redemption premium		-			-		-			-			-
Net income (loss) available to MetLife, Inc.’s common shareholders	$	(11	)	$	110	$	129		$	17		$	214

Total Operating Premiums, Fees and Other Revenues	$	868		$	788	$	887		$	851		$	3,286

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ASIA (1) STATEMENTS OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS

	For the Three Months Ended												For the Year Ended
Unaudited (In millions)	September 30, 2011			December 31, 2011			March 31, 2012			June 30, 2012			December 31, 2011

OPERATING REVENUES
Premiums	$	1,967		$	1,942		$	2,039		$	2,064		$	7,716
Universal life and investment-type product policy fees		357			323			362			352			1,343
Net investment income		643			676			681			760			2,475
Other revenues		8			8			16			(3	)		36
Total operating revenues		2,975			2,949			3,098			3,173			11,570

OPERATING EXPENSES
Policyholder benefits and claims and policyholder dividends		1,325			1,308			1,360			1,435			5,239
Interest credited to policyholder account balances		414			414			429			426			1,607
Capitalization of DAC		(576	)		(515	)		(587	)		(555	)		(2,045)
Amortization of DAC and VOBA		407			323			373			419			1,486
Amortization of negative VOBA		(137	)		(134	)		(131	)		(128	)		(560)
Interest expense on debt		-			-			1			4			-
Other expenses		1,213			1,151			1,191			1,153			4,522
Total operating expenses		2,646			2,547			2,636			2,754			10,249

Operating earnings before provision for income tax		329			402			462			419			1,321
Provision for income tax expense (benefit)		107			143			161			140			441
Operating earnings		222			259			301			279			880
Preferred stock dividends		-			-			-			-			-
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS	$	222		$	259		$	301		$	279		$	880

Reconciliation to Net Income (Loss) and Financial Statement Line Item Adjustments from GAAP
Operating earnings	$	222		$	259		$	301		$	279		$	880
Adjustments from operating earnings to income (loss) from continuing operations:
Net investment gains (losses)		(34	)		(109	)		(78	)		(43	)		(305)
Net derivative gains (losses)		168			(27	)		(30	)		50			202
Premiums		-			-			-			-			-
Universal life and investment-type product policy fees		-			-			(1	)		(1	)		-
Net investment income		(443	)		(147	)		508			(357	)		(521)
Other revenues		5			5			5			6			13
Policyholder benefits and claims and policyholder dividends		(9	)		(21	)		(23	)		(21	)		(48)
Interest credited to policyholder account balances		421			155			(515	)		352			512
Capitalization of DAC		-			-			-			-			-
Amortization of DAC and VOBA		(20	)		1			1			1			(19)
Amortization of negative VOBA		19			17			17			16			74
Interest expense on debt		-			-			-			-			-
Other expenses		1			2			6			10			3
Provision for income tax (expense) benefit		(55	)		58			53			(21	)		44
Income (loss) from continuing operations, net of income tax		275			193			244			271			835
Income (loss) from discontinued operations, net of income tax		(11	)		27			-			-			(44)
Net income (loss)		264			220			244			271			791
Less: Net income (loss) attributable to noncontrolling interest		1			8			7			10			9
Net income (loss) attributable to MetLife, Inc.		263			212			237			261			782
Less: Preferred stock dividends		-			-			-			-			-
Less: Preferred stock redemption premium		-			-			-			-			-
Net income (loss) available to MetLife, Inc.'s common shareholders	$	263		$	212		$	237		$	261		$	782

Total Operating Premiums, Fees and Other Revenues	$	2,332		$	2,273		$	2,417		$	2,413		$	9,095

(1) Certain amounts in prior periods have been revised. In the third quarter of 2012, MetLife, Inc. further realigned certain businesses among its existing segments to better conform to the way it manages and assesses its business, and began reporting the results of South Asia and India in the Asia segment, which were previously reported in the EMEA segment.

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EMEA (1) STATEMENTS OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS

	For the Three Months Ended												For the Year Ended
Unaudited (In millions)	September 30, 2011			December 31, 2011			March 31, 2012			June 30, 2012			December 31, 2011

OPERATING REVENUES
Premiums	$	630		$	581		$	652		$	627		$	2,477
Universal life and investment-type product policy fees		67			79			80			71			315
Net investment income		151			107			157			127			562
Other revenues		29			39			36			27			123
Total operating revenues		877			806			925			852			3,477

OPERATING EXPENSES
Policyholder benefits and claims and policyholder dividends		341			282			343			343			1,290
Interest credited to policyholder account balances		35			48			33			26			166
Capitalization of DAC		(157	)		(174	)		(177	)		(200	)		(669)
Amortization of DAC and VOBA		142			152			146			180			613
Amortization of negative VOBA		(13	)		(7	)		(4	)		(35	)		(53)
Interest expense on debt		-			(1	)		-			1			-
Other expenses		423			433			471			422			1,723
Total operating expenses		771			733			812			737			3,070

Operating earnings before provision for income tax		106			73			113			115			407
Provision for income tax expense (benefit)		41			26			41			37			156
Operating earnings		65			47			72			78			251
Preferred stock dividends		-			-			-			-			-
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS	$	65		$	47		$	72		$	78		$	251

Reconciliation to Net Income (Loss) and Financial Statement Line Item Adjustments from GAAP
Operating earnings	$	65		$	47		$	72		$	78		$	251
Adjustments from operating earnings to income (loss) from continuing operations:
Net investment gains (losses)		(220	)		(221	)		(18	)		(18	)		(525)
Net derivative gains (losses)		22			3			29			14			32
Premiums		-			-			-			-			-
Universal life and investment-type product policy fees		-			-			-			13			-
Net investment income		(388	)		101			458			(178	)		(27)
Other revenues		-			(1	)		-			-			(1)
Policyholder benefits and claims and policyholder dividends		-			-			-			-			-
Interest credited to policyholder account balances		384			(81	)		(450	)		177			39
Capitalization of DAC		-			-			-			-			-
Amortization of DAC and VOBA		-			-			-			(16	)		-
Amortization of negative VOBA		-			-			-			-			-
Interest expense on debt		-			-			-			-			-
Other expenses		(21	)		(23	)		6			(20	)		(86)
Provision for income tax (expense) benefit		84			57			(22	)		36			164
Income (loss) from continuing operations, net of income tax		(74	)		(118	)		75			86			(153)
Income (loss) from discontinued operations, net of income tax		-			-			-			-			-
Net income (loss)		(74	)		(118	)		75			86			(153)
Less: Net income (loss) attributable to noncontrolling interest		(11	)		(6	)		17			(6	)		(12)
Net income (loss) attributable to MetLife, Inc.		(63	)		(112	)		58			92			(141)
Less: Preferred stock dividends		-			-			-			-			-
Less: Preferred stock redemption premium		-			-			-			-			-
Net income (loss) available to MetLife, Inc.'s common shareholders	$	(63	)	$	(112	)	$	58		$	92		$	(141)

Total Operating Premiums, Fees and Other Revenues	$	726		$	699		$	768		$	725		$	2,915

(1) Certain amounts in prior periods have been revised. In the third quarter of 2012, MetLife, Inc. further realigned certain businesses among its existing segments to better conform to the way it manages and assesses its business, and began reporting the results of South Asia and India in the Asia segment, which were previously reported in the EMEA segment.

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CORPORATE & OTHER (1) STATEMENTS OF OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS
	For the Three Months Ended												For the Year Ended
Unaudited (In millions)	September 30, 2011			December 31, 2011			March 31, 2012			June 30, 2012			December 31, 2011

OPERATING REVENUES
Premiums	$	14		$	13		$	14		$	14		$	54
Universal life and investment-type product policy fees		39			40			40			39			155
Net investment income		213			207			192			238			888
Other revenues		11			6			14			5			60
Total operating revenues		277			266			260			296			1,157

OPERATING EXPENSES
Policyholder benefits and claims and policyholder dividends		61			25			11			52			126
Interest credited to policyholder account balances		-			-			-			12			-
Capitalization of DAC		-			-			-			-			-
Amortization of DAC and VOBA		-			1			-			-			1
Amortization of negative VOBA		-			-			-			-			-
Interest expense on debt		325			324			311			290			1,293
Other expenses		153			147			155			108			505
Total operating expenses		539			497			477			462			1,925

Operating earnings before provision for income tax		(262	)		(231	)		(217	)		(166	)		(768	)
Provision for income tax expense (benefit)		(190	)		(167	)		(180	)		(144	)		(584	)
Operating earnings		(72	)		(64	)		(37	)		(22	)		(184	)
Preferred stock dividends		30			31			30			31			122
OPERATING EARNINGS AVAILABLE TO COMMON SHAREHOLDERS	$	(102	)	$	(95	)	$	(67	)	$	(53	)	$	(306	)

Reconciliation to Net Income (Loss) and Financial Statement Line Item Adjustments from GAAP
Operating earnings	$	(72	)	$	(64	)	$	(37	)	$	(22	)	$	(184	)
Adjustments from operating earnings to income (loss) from continuing operations:
Net investment gains (losses)		91			(171	)		21			(205	)		(182	)
Net derivative gains (losses)		1,096			(213	)		(870	)		227			676
Premiums		-			-			-			-			-
Universal life and investment-type product policy fees		-			-			-			-			-
Net investment income		186			137			197			178			677
Other revenues		297			231			140			(40	)		869
Policyholder benefits and claims and policyholder dividends		-			-			-			-			-
Interest credited to policyholder account balances		-			-			-			-			-
Capitalization of DAC		-			-			-			-			-
Amortization of DAC and VOBA		-			-			-			-			-
Amortization of negative VOBA		-			-			-			-			-
Interest expense on debt		(98	)		(43	)		(43	)		(45	)		(325	)
Other expenses		(392	)		(454	)		(527	)		(376	)		(1,504	)
Provision for income tax (expense) benefit		(400	)		204			374			95			(40	)
Income (loss) from continuing operations, net of income tax		708			(373	)		(745	)		(188	)		(13	)
Income (loss) from discontinued operations, net of income tax		3			-			-			-			4
Net income (loss)		711			(373	)		(745	)		(188	)		(9	)
Less: Net income (loss) attributable to noncontrolling interest		1			2			-			3			(2	)
Net income (loss) attributable to MetLife, Inc.		710			(375	)		(745	)		(191	)		(7	)
Less: Preferred stock dividends		30			31			30			31			122
Less: Preferred stock redemption premium		-			-			-			-			146
Net income (loss) available to MetLife, Inc.’s common shareholders	$	680		$	(406	)	$	(775	)	$	(222	)	$	(275	)

Total Operating Premiums, Fees and Other Revenues	$	64		$	59		$	68		$	58		$	269
(1) Certain amounts in the prior periods have been revised. In the third quarter of 2012, MetLife, Inc. began reporting additional MetLife Bank operations as Divested businesses.

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INVESTMENTS
INVESTMENT PORTFOLIO RESULTS BY ASSET CATEGORY AND ANNUALIZED YIELDS
	At or For the Three Months Ended
Unaudited (In millions)	September 30, 2011			December 31, 2011			March 31, 2012			June 30, 2012
Fixed Maturity Securities
Yield (1)		4.79%			4.90%			4.96%			4.76%
Investment income (2), (3), (4)	$	3,721		$	3,808		$	3,840		$	3,720
Investment gains (losses) (3)		(186	)		(478	)		(136	)		(19	)
Ending carrying value (2), (3)		354,611			351,011			355,269			367,138
Mortgage Loans
Yield (1)		5.56%			5.53%			5.62%			5.44%
Investment income (3), (4)		806			832			830			764
Investment gains (losses) (3)		45			15			36			13
Ending carrying value (3)		59,722			61,303			57,281			55,750
Real Estate and Real Estate Joint Ventures
Yield (1)		4.67%			2.65%			3.76%			8.75%
Investment income (3)		96			55			80			185
Investment gains (losses) (3)		165			(11	)		17			(12	)
Ending carrying value		8,197			8,563			8,472			8,477
Policy Loans
Yield (1)		5.43%			5.35%			5.30%			5.27%
Investment income		162			159			158			156
Ending carrying value		11,932			11,892			11,896			11,912
Equity Securities
Yield (1)		3.59%			4.52%			4.17%			5.24%
Investment income		28			35			32			38
Investment gains (losses)		(3	)		14			(9	)		19
Ending carrying value		3,118			3,023			3,043			2,882
Other Limited Partnership Interests
Yield (1)		11.08%			6.16%			11.34%			16.07%
Investment income		180			99			182			266
Investment gains (losses)		-			(4	)		(2	)		(9	)
Ending carrying value		6,538			6,378			6,487			6,726
Cash and Short-term Investments
Yield (1)		1.03%			0.87%			0.69%			0.65%
Investment income		38			33			32			34
Investment gains (losses)		-			1			-			-
Ending carrying value (3)		25,901			27,750			30,465			34,540
Other Invested Assets (1)
Investment income		158			108			132			197
Investment gains (losses) (3)		-			(6	)		(25	)		(10	)
Ending carrying value		23,103			23,581			20,172			24,288
Total Investments
Investment income yield (1)		4.97%			4.87%			5.00%			5.05%
Investment fees and expenses yield		(0.13	)		(0.14	)		(0.13	)		(0.13	)
Net Investment Income Yield (1), (3), (5)		4.84%			4.73%			4.87%			4.92%
Investment income	$	5,189		$	5,129		$	5,286		$	5,360
Investment fees and expenses		(137	)		(143	)		(140	)		(139	)
Net Investment Income including Divested businesses		5,052			4,986			5,146			5,221
Less: Net investment Income from Divested businesses (5), (6)		91			94			69			49
Net Investment Income (3), (6)	$	4,961		$	4,892		$	5,077		$	5,172
Ending Carrying Value (3)	$	493,122		$	493,501		$	493,085		$	511,713
Investment portfolio gains (losses) including Divested businesses	$	21		$	(469	)	$	(119	)	$	(18	)
Less: Investment portfolio gains (losses) from Divested businesses (5)		7			(138	)		96			(35	)
Investment Portfolio Gains (Losses) (3), (5)	$	14		$	(331	)	$	(215	)	$	17
Gross investment gains	$	474		$	247		$	278		$	255
Gross investment losses		(199	)		(328	)		(335	)		(182	)
Writedowns		(261	)		(250	)		(158	)		(56	)
Investment Portfolio Gains (Losses) (3)		14			(331	)		(215	)		17
Investment portfolio gains (losses) income tax (expense) benefit		(5	)		118			70			(13	)
Investment Portfolio Gains (Losses), Net of Income Tax	$	9		$	(213	)	$	(145	)	$	4
Derivative Gains (Losses) including Divested businesses	$	4,129		$	509		$	(2,064	)	$	1,984
Less: Derivative gains (losses) from Divested businesses (5)		(139	)		(13	)		(5	)		(2	)
Derivative gains (losses) (3), (5)		4,268			522			(2,059	)		1,986
Derivative gains (losses) income tax (expense) benefit		(1,496	)		(171	)		727			(699	)
Derivative Gains (Losses), Net of Income Tax	$	2,772		$	351		$	(1,332	)	$	1,287
(1) Yields are calculated as investment income as a percent of average quarterly asset carrying values. Investment income excludes recognized gains and losses and reflects the GAAP adjustments described on Page 2 and as presented on Page 30. Asset carrying values exclude unrealized gains (losses), collateral received in connection with our securities lending program, freestanding derivative assets, collateral received from derivative counterparties, the effects of consolidating under GAAP certain VIEs that are treated as consolidated securitization entities ("CSEs"), contractholder-directed unit-linked investments and securitized reverse residential mortgage loans. A yield is not presented for other invested assets, as it is not considered a meaningful measure of performance for this asset class. (2) Fixed maturity securities includes $684 million, $740 million, $818 million and $799 million in ending carrying value and ($38) million, $25 million, $45 million and ($1) million of investment income related to trading and other securities at or for the three months ended September 30, 2011, December 31, 2011, March 31, 2012 and June 30, 2012, respectively. (3) The reconciliation of the remaining yield table captions to the most directly comparable measures presented in accordance with GAAP are as follows at or for the periods ended September 30, 2011, December 31, 2011, March 31, 2012 and June 30, 2012, respectively: A) Trading and other securities (included within fixed maturity securities above) ending carrying value excludes contractholder-directed unit-linked investments of $17,874 million, $17,411 million, $18,119 million and $17,459 million; B) Ending carrying value excludes the effects of consolidating under GAAP certain VIEs that are treated as CSEs: trading and other securities (included within fixed maturity securities above) of $140 million, $117 million, $89 million and $70 million, mortgage loans of $3,227 million, $3,138 million, $3,024 million and $2,932 million and cash and short-term investments of $13 million, $21 million, $3 million and $21 million; C) Mortgage loans ending carrying value excludes securitized reverse residential mortgage loans of $0, $7,652 million, $8,283 million and $259 million; D) Net investment income adjustments as presented on Page 30 within the reconciliation to Net Income; E) Investment portfolio gains (losses) presented above and the GAAP adjustments as presented below; and F) Derivative gains (losses) presented above and GAAP adjustments as presented below:



	For the Three Months Ended
	September 30, 2011			December 31, 2011			March 31, 2012			June 30, 2012
Investment portfolio gains (losses) including Divested businesses - in above yield table	$	21		$	(469	)	$	(119	)	$	(18	)
Real estate discontinued operations		(26	)		1			(21	)		(4	)
Net investment gains (losses) related to CSEs		(7	)		3			(5	)		4
Other gains (losses) reported in net investment gains (losses) on GAAP basis		(43	)		(93	)		35			(46	)
Net investment gains (losses) - GAAP basis	$	(55	)	$	(558	)	$	(110	)	$	(64	)

	For the Three Months Ended
	September 30, 2011			December 31, 2011			March 31, 2012			June 30, 2012
Derivative gains (losses) including Divested businesses - in above yield table	$	4,129		$	509		$	(2,064	)	$	1,984
Investment hedge adjustments		70			85			89			113
Joint venture adjustments		-			-			-			-
Settlement of foreign currency earnings hedges		(5	)		(4	)		(5	)		(6	)
PAB hedge adjustments		2			1			2			1
Net derivative gains (losses) - GAAP basis	$	4,196		$	591		$	(1,978	)	$	2,092
(4) Investment income from fixed maturity securities and mortgage loans includes prepayment fees. (5) Yields are calculated including net investment income of certain Divested businesses and related carrying values. The net investment income adjustment on Page 30 for all of the Divested businesses for the three months ended March 31, 2012, and June 30, 2012, includes $85 million and $88 million, respectively, for securitized reverse residential mortgage loans that was excluded from the Mortgage Loans and Total Investments sections presented above. See Page 2 for discussion of Divested businesses. (6) Certain amounts in the prior periods have been revised. In the third quarter of 2012, MetLife, Inc. began reporting additional MetLife Bank operations as Divested businesses.

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INVESTMENTS INVESTMENT PORTFOLIO RESULTS BY ASSET CATEGORY AND ANNUALIZED YIELDS
	At or For the Year-to-Date Period Ended
Unaudited (In millions)	September 30, 2011			December 31, 2011			March 31, 2012			June 30, 2012
Fixed Maturity Securities
Yield (1)		4.95%			4.94%			4.96%			4.86%
Investment income (2), (3), (4)	$	11,208		$	15,016		$	3,840		$	7,560
Investment gains (losses) (3)		(454	)		(932	)		(136	)		(155	)
Ending carrying value (2), (3)		354,611			351,011			355,269			367,138
Mortgage Loans
Yield (1)		5.54%			5.53%			5.62%			5.53%
Investment income (3), (4)		2,330			3,162			830			1,594
Investment gains (losses) (3)		160			175			36			49
Ending carrying value (3)		59,722			61,303			57,281			55,750
Real Estate and Real Estate Joint Ventures
Yield (1)		4.15%			3.76%			3.76%			6.25%
Investment income (3)		252			307			80			265
Investment gains (losses) (3)		241			230			17			5
Ending carrying value		8,197			8,563			8,472			8,477
Policy Loans
Yield (1)		5.46%			5.43%			5.30%			5.28%
Investment income		482			641			158			314
Ending carrying value		11,932			11,892			11,896			11,912
Equity Securities
Yield (1)		4.42%			4.44%			4.17%			4.69%
Investment income		106			141			32			70
Investment gains (losses)		(37	)		(23	)		(9	)		10
Ending carrying value		3,118			3,023			3,043			2,882
Other Limited Partnership Interests
Yield (1)		12.07%			10.58%			11.34%			13.74%
Investment income		582			681			182			448
Investment gains (losses)		8			4			(2	)		(11	)
Ending carrying value		6,538			6,378			6,487			6,726
Cash and Short-term Investments
Yield (1)		1.10%			1.04%			0.69%			0.67%
Investment income		122			155			32			66
Investment gains (losses)		1			2			-			-
Ending carrying value (3)		25,901			27,750			30,465			34,540
Other Invested Assets (1)
Investment income		331			439			132			329
Investment gains (losses) (3)		(3	)		(9	)		(25	)		(35	)
Ending carrying value		23,103			23,581			20,172			24,288
Total Investments
Investment income yield (1)		5.05%			5.00%			5.00%			5.03%
Investment fees and expenses yield		(0.13	)		(0.13	)		(0.13	)		(0.13	)
Net Investment Income Yield (1), (3), (5)		4.92%			4.87%			4.87%			4.90%
Investment income	$	15,413		$	20,542		$	5,286		$	10,646
Investment fees and expenses		(403	)		(546	)		(140	)		(279	)
Net Investment Income including Divested businesses		15,010			19,996			5,146			10,367
Less: Net investment Income from Divested businesses (5), (6)		264			358			69			118
Net Investment Income (3), (6)	$	14,746		$	19,638		$	5,077		$	10,249
Ending Carrying Value (3)	$	493,122		$	493,501		$	493,085		$	511,713
Investment portfolio gains (losses) including Divested businesses	$	(84	)	$	(553	)	$	(119	)	$	(137	)
Less: Investment portfolio gains (losses) from Divested businesses (5)		(2	)		(140	)		96			61
Investment Portfolio Gains (Losses) (3), (5)	$	(82	)	$	(413	)	$	(215	)	$	(198	)
Gross investment gains	$	1,107		$	1,354		$	278		$	533
Gross investment losses		(730	)		(1,058	)		(335	)		(517	)
Writedowns		(459	)		(709	)		(158	)		(214	)
Investment Portfolio Gains (Losses) (3)		(82	)		(413	)		(215	)		(198	)
Investment portfolio gains (losses) income tax (expense) benefit		30			148			70			57
Investment Portfolio Gains (Losses), Net of Income Tax	$	(52	)	$	(265	)	$	(145	)	$	(141	)

Derivative Gains (Losses) including Divested businesses	$	4,036		$	4,545		$	(2,064	)	$	(80	)
Less: Derivative gains (losses) from Divested businesses (5)		(150	)		(163	)		(5	)		(7	)
Derivative gains (losses) (3), (5)		4,186			4,708			(2,059	)		(73	)
Derivative gains (losses) income tax (expense) benefit		(1,472	)		(1,643	)		727			28
Derivative Gains (Losses), Net of Income Tax	$	2,714		$	3,065		$	(1,332	)	$	(45	)

(1) Yields are calculated as investment income as a percent of average quarterly asset carrying values. Investment income excludes recognized gains and losses and reflects the GAAP adjustments described on Page 2 and as presented on Page 30. Asset carrying values exclude unrealized gains (losses), collateral received in connection with our securities lending program, freestanding derivative assets, collateral received from derivative counterparties, the effects of consolidating under GAAP certain VIEs that are treated as CSEs, contractholder-directed unit-linked investments and securitized reverse residential mortgage loans. A yield is not presented for other invested assets, as it is not considered a meaningful measure of performance for this asset class.
(2) Fixed maturity securities includes $684 million, $740 million, $818 million and $799 million in ending carrying value, and $6 million, $31 million, $45 million and $44 million of investment income related to trading and other securities at or for the year-to-date period ended September 30, 2011, December 31, 2011, March 31, 2012, and June 30, 2012, respectively.
(3) The reconciliation of the remaining yield table captions to the most directly comparable measures presented in accordance with GAAP are as follows at or for the periods ended September 30, 2011, December 31, 2011, March 31, 2012 and June 30, 2012, respectively: A) Trading and other securities (included within fixed maturity securities above) ending carrying value excludes contractholder-directed unit-linked investments of $17,874 million, $17,411 million, $18,119 million and $17,459 million; B) Ending carrying value excludes the effects of consolidating under GAAP certain VIEs that are treated as CSEs: trading and other securities (included within fixed maturity securities above) of $140 million, $117 million, $89 million and $70 million, mortgage loans of $3,227 million, $3,138 million, $3,024 million and $2,932 million and cash and short-term investments of $13 million, $21 million, $3 million and $21 million; C) Mortgage loans ending carrying value excludes securitized reverse residential mortgage loans of $0, $7,652 million, $8,283 million and $259 million; D) Net investment income adjustments as presented on Page 30 within the reconciliation to Net Income; E) Investment portfolio gains (losses) presented above and the GAAP adjustments as presented below; and F) Derivative gains (losses) presented above and GAAP adjustments as presented below:
	For the Year-to-Date Period Ended
	September 30, 2011			December 31, 2011			March 31, 2012			June 30, 2012
Investment portfolio gains (losses) including Divested businesses - in above yield table	$	(84	)	$	(553	)	$	(119	)	$	(137	)
Real estate discontinued operations		(97	)		(96	)		(21	)		(25	)
Net investment gains (losses) related to certain CSEs		2			5			(5	)		(1	)
Other gains (losses) reported in net investment gains (losses) on GAAP basis		(130	)		(223	)		35			(11	)
Net investment gains (losses) - GAAP basis	$	(309	)	$	(867	)	$	(110	)	$	(174	)

		For the Year-to-Date Period Ended
		September 30, 2011			December 31, 2011			March 31, 2012			June 30, 2012
Derivative gains (losses) including Divested businesses - in above yield table	$	4,036		$	4,545		$	(2,064	)	$	(80	)
Investment hedge adjustments		164			249			89			202
Joint venture adjustments		23			23			-			-
Settlement of foreign currency earnings hedges		(8	)		(12	)		(5	)		(11	)
PAB hedge adjustments		18			19			2			3
Net derivative gains (losses) - GAAP basis	$	4,233		$	4,824		$	(1,978	)	$	114
(4) Investment income from fixed maturity securities and mortgage loans includes prepayment fees.
(5) Yields are calculated including net investment income of certain Divested businesses and related carrying values. The net investment income adjustment on Page 30 for all of the Divested businesses for the year-to-date period ended March 31, 2012, and June 30, 2012, includes $85 million and $173 million, respectively, for securitized reverse residential mortgage loans that was excluded from the Mortgage Loans and Total Investments sections presented above. See Page 2 for discussion of Divested businesses.
(6) Certain amounts in the prior periods have been revised. In the third quarter of 2012, MetLife, Inc. began reporting additional MetLife Bank operations as Divested businesses.

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INVESTMENTS GROSS UNREALIZED GAINS AND LOSSES AGING SCHEDULES - FIXED MATURITY SECURITIES AND EQUITY SECURITIES AVAILABLE-FOR-SALE GROSS UNREALIZED GAINS AND LOSSES AGING SCHEDULE FIXED MATURITY SECURITIES AVAILABLE-FOR-SALE (1)
	September 30, 2011				December 31, 2011				March 31, 2012				June 30, 2012
Unaudited (In millions)	Amount		% of Total		Amount		% of Total		Amount		% of Total		Amount		% of Total

Less than 20%	$	2,818		53.7%	$	2,896		52.5%	$	1,963		52.6%	$	1,813		52.1%
20% or more for less than six months		1,377		26.2%		1,332		24.2%		258		6.9%		272		7.8%
20% or more for six months or greater		1,055		20.1%		1,285		23.3%		1,512		40.5%		1,397		40.1%
Total Gross Unrealized Losses	$	5,250		100.0%	$	5,513		100.0%	$	3,733		100.0%	$	3,482		100.0%

Total Gross Unrealized Gains	$	25,168			$	25,973			$	25,203			$	30,950


GROSS UNREALIZED GAINS AND LOSSES AGING SCHEDULE EQUITY SECURITIES AVAILABLE-FOR-SALE (1)

	September 30, 2011				December 31, 2011				March 31, 2012				June 30, 2012
Unaudited (In millions)	Amount		% of Total		Amount		% of Total		Amount		% of Total		Amount		% of Total

Less than 20%	$	53		23.3%	$	76		25.4%	$	33		18.6%	$	56		25.3%
20% or more for less than six months		89		39.0%		123		41.1%		14		7.9%		19		8.6%
20% or more for six months or greater		86		37.7%		100		33.5%		130		73.5%		146		66.1%
Total Gross Unrealized Losses	$	228		100.0%	$	299		100.0%	$	177		100.0%	$	221		100.0%

Total Gross Unrealized Gains	$	119			$	114			$	158			$	130


(1) MetLife, Inc.'s review of its fixed maturity securities and equity securities for impairments includes an analysis of the total gross unrealized losses by three categories of securities: (i) securities where the estimated fair value had declined and remained below cost or amortized cost by less than 20%; (ii) securities where the estimated fair value had declined and remained below cost or amortized cost by 20% or more for less than six months; and (iii) securities where the estimated fair value had declined and remained below cost or amortized cost by 20% or more for six months or greater.

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INVESTMENTS SUMMARY OF FIXED MATURITY SECURITIES AVAILABLE-FOR-SALE BY SECTOR AND QUALITY DISTRIBUTION AND SUMMARY OF REAL ESTATE AND REAL ESTATE JOINT VENTURES SUMMARY OF FIXED MATURITY SECURITIES AVAILABLE-FOR-SALE BY SECTOR AND QUALITY DISTRIBUTION
			September 30, 2011			December 31, 2011			March 31, 2012			June 30, 2012
Unaudited (In millions)			Amount	% of Total		Amount	% of Total		Amount	% of Total		Amount	% of Total
U.S. corporate securities		$	106,575	30.1%	$	105,785	30.2%	$	105,273	29.7%	$	110,373	30.1%
Foreign corporate securities			63,522	18.0%		64,018	18.3%		65,354	18.4%		63,345	17.3%
Foreign government securities			52,959	15.0%		52,536	15.0%		55,338	15.6%		56,193	15.3%
U.S. Treasury and agency securities			41,834	11.8%		40,012	11.4%		41,416	11.7%		47,841	13.1%
Residential mortgage-backed securities			42,890	12.1%		42,637	12.2%		41,279	11.7%		41,064	11.2%
Commercial mortgage-backed securities			19,585	5.5%		19,069	5.4%		18,732	5.3%		19,017	5.2%
Asset-backed securities			13,421	3.8%		12,979	3.7%		13,143	3.7%		13,892	3.8%
State and political subdivision securities			13,141	3.7%		13,235	3.8%		13,916	3.9%		14,614	4.0%
Total fixed maturity securities available-for-sale		$	353,927	100.0%	$	350,271	100.0%	$	354,451	100.0%	$	366,339	100.0%

NAIC	RATING AGENCY
RATING	DESIGNATION
1	Aaa / Aa / A	$	250,596	70.8%	$	246,786	70.5%	$	248,544	70.1%	$	258,302	70.5%
2	Baa		78,837	22.3%		78,531	22.4%		80,882	22.8%		83,515	22.8%
3	Ba		15,348	4.3%		14,375	4.1%		14,618	4.1%		14,848	4.1%
4	B		7,844	2.2%		8,849	2.5%		9,051	2.6%		8,503	2.3%
5	Caa and lower		1,157	0.3%		1,668	0.5%		1,334	0.4%		1,121	0.3%
6	In or near default		145	0.1%		62	0.0%		22	0.0%		50	0.0%
Total fixed maturity securities available-for-sale (1)		$	353,927	100.0%	$	350,271	100.0%	$	354,451	100.0%	$	366,339	100.0%
(1) Amounts presented are based on rating agency designations and equivalent ratings of the National Association of Insurance Commissioners ("NAIC"), except as described below. Amounts presented for certain structured securities (i.e., non-agency residential mortgage-backed securities, commercial mortgage-backed securities and asset-backed securities), held by MetLife, Inc.'s insurance subsidiaries that maintain the NAIC statutory basis of accounting are based on ratings from revised NAIC rating methodologies. The NAIC's present methodology is to evaluate structured securities held by insurers using the revised NAIC rating methodologies on an annual basis. If such insurance subsidiaries of MetLife, Inc. acquire structured securities that have not been previously evaluated by the NAIC, but are expected to be evaluated by the NAIC in the upcoming annual review, an internally developed rating is used until a final rating becomes available. These revised NAIC ratings may not correspond to the rating agency designations. The rating agency designations are based on availability of applicable ratings from those rating agencies on the NAIC acceptable rating organizations list.
SUMMARY OF REAL ESTATE AND REAL ESTATE JOINT VENTURES
		September 30, 2011			December 31, 2011			March 31, 2012			June 30, 2012
Unaudited (In millions)
Traditional (2), (3)		$	5,697		$	5,959		$	6,954		$	7,083
Real estate joint ventures and funds			2,327			2,340			1,172			1,109
Subtotal			8,024			8,299			8,126			8,192
Foreclosed			173			264			346			285
Total Real Estate and Real Estate Joint Ventures		$	8,197		$	8,563		$	8,472		$	8,477
(2) Includes wholly-owned real estate and operating real estate joint ventures. (3) Includes real estate held-for-sale and held-for-investment.

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INVESTMENTS SUMMARY OF MORTGAGE LOANS AND SUMMARY OF COMMERCIAL MORTGAGE LOANS BY REGION AND PROPERTY TYPE SUMMARY OF MORTGAGE LOANS (1), (2)
Unaudited (In millions)	September 30, 2011					December 31, 2011					March 31, 2012					June 30, 2012
Commercial mortgage loans	$	40,120				$	40,440				$	40,329				$	41,035
Agricultural mortgage loans		12,967					13,129					12,946					12,848
Residential mortgage loans		3,424					689					788					747
Mortgage loans held-for-sale		3,740					7,526					3,664					1,481
Total Mortgage Loans		60,251					61,784					57,727					56,111
Valuation allowances		(529	)				(481	)				(446	)				(361	)
Total Mortgage Loans, net	$	59,722				$	61,303				$	57,281				$	55,750
(1) Excludes the effects of securitized reverse residential mortgage loans which have been sold, but do not qualify for de-recognition. See Page 25, note 3 for the amount excluded for each period presented. (2) Excludes the effects of consolidating under GAAP certain VIEs that are treated as CSEs. See Page 25, note 3 for the amount excluded for each period presented. SUMMARY OF COMMERCIAL MORTGAGE LOANS BY REGION AND PROPERTY TYPE
	September 30, 2011					December 31, 2011					March 31, 2012					June 30, 2012
Unaudited (In millions)	Amount			% of Total		Amount			% of Total		Amount			% of Total		Amount			% of Total

South Atlantic	$	8,591			21.4%	$	9,022			22.3%	$	8,968			22.2%	$	8,966			21.9%
Pacific		8,195			20.4%		8,209			20.3%		8,015			19.9%		7,973			19.4%
Middle Atlantic		6,535			16.3%		6,370			15.8%		6,288			15.6%		6,412			15.6%
International		4,540			11.3%		4,713			11.7%		4,839			12.0%		4,955			12.1%
West South Central		3,145			7.9%		3,220			8.0%		3,289			8.1%		3,492			8.5%
East North Central		3,101			7.7%		2,984			7.3%		2,936			7.3%		3,110			7.6%
New England		1,491			3.7%		1,563			3.9%		1,572			3.9%		1,553			3.8%
Mountain		823			2.1%		746			1.8%		810			2.0%		992			2.4%
East South Central		454			1.1%		487			1.2%		483			1.2%		460			1.1%
West North Central		511			1.3%		365			0.9%		346			0.9%		338			0.8%
Multi-Region and Other		2,734			6.8%		2,761			6.8%		2,783			6.9%		2,784			6.8%
Total	$	40,120			100.0%	$	40,440			100.0%	$	40,329			100.0%	$	41,035			100.0%

Office	$	19,290			48.1%	$	18,582			45.9%	$	18,320			45.4%	$	18,502			45.1%
Retail		8,564			21.3%		9,524			23.6%		9,545			23.7%		9,669			23.6%
Apartments		4,166			10.4%		4,011			9.9%		3,930			9.7%		4,303			10.5%
Hotel		2,982			7.4%		3,114			7.7%		3,136			7.8%		3,181			7.7%
Industrial		3,138			7.8%		3,102			7.7%		3,288			8.2%		3,224			7.9%
Other		1,980			5.0%		2,107			5.2%		2,110			5.2%		2,156			5.2%
Total	$	40,120			100.0%	$	40,440			100.0%	$	40,329			100.0%	$	41,035			100.0%

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METLIFE, INC. (1) APPENDIX RECONCILIATION DETAIL
	For the Three Months Ended												For the Year Ended
Unaudited (In millions)	September 30, 2011			December 31, 2011			March 31, 2012			June 30, 2012			December 31, 2011

Reconciliation to Net Income (Loss) and Financial Statement Line Item Adjustments from GAAP
Operating earnings	$	995		$	1,275		$	1,494		$	1,463		$	4,799
Adjustments from operating earnings to income (loss) from continuing operations:
Net investment gains (losses)		(55	)		(558	)		(110	)		(64	)		(867	)
Net derivative gains (losses)		4,196			591			(1,978	)		2,092			4,824
Premiums - Divested businesses		23			23			22			22			92
Universal life and investment-type product policy fees
Unearned revenue adjustments		16			-			(6	)		20			14
GMIB fees		74			66			72			74			256
Divested businesses		2			2			3			4			8
Net investment income
Investment hedge adjustments		(70	)		(85	)		(89	)		(113	)		(249	)
Income from discontinued real estate operations		(3	)		(1	)		-			(2	)		(10	)
Joint venture adjustments		-			-			-			-			(23	)
Unit-linked contract income		(824	)		(16	)		1,015			(517	)		(453	)
Securitization entities income		97			43			43			42			324
Divested businesses		91			94			154			137			358
Other revenues
Settlement of foreign currency earnings hedges		5			4			5			6			12
Divested businesses		297			230			140			(39	)		868
Policyholder benefits and claims and policyholder dividends
PDO adjustments		-			-			-			-			-
Inflation adjustments and pass through adjustments		(189	)		(24	)		(98	)		(169	)		(420	)
GMIB costs		411			(448	)		(388	)		52			(192	)
Market value adjustments		(4	)		-			(7	)		(2	)		(7	)
Divested businesses		(16	)		(13	)		(15	)		(12	)		(57	)
Interest credited to policyholder account balances
PAB hedge adjustments		(2	)		(1	)		(2	)		(1	)		(19	)
Unit-linked contract costs		801			40			(1,016	)		509			483
Divested businesses		(3	)		(2	)		-			(5	)		(10	)
Capitalization of DAC - Divested businesses		3			2			2			2			9
Amortization of DAC and VOBA
Related to NIGL and NDGL		(426	)		(16	)		192			(257	)		(526	)
Related to GMIB fees and GMIB costs		(129	)		90			113			(58	)		(13	)
Related to market value adjustments		-			-			-			-			-
Divested businesses		(1	)		(1	)		(1	)		(2	)		(4	)
Amortization of negative VOBA
Related to market value adjustments		19			17			17			16			74
Divested businesses		1			1			1			1			4
Interest expense on debt
Securitization entities debt expense		(97	)		(43	)		(43	)		(42	)		(324	)
Divested businesses		(1	)		-			-			(3	)		(1	)
Other expenses
Noncontrolling interest		(7	)		1			24			11			(8	)
Regulatory implementation costs		(3	)		(9	)		(7	)		(14	)		(23	)
Acquisition & integration costs		(85	)		(133	)		(75	)		(56	)		(412	)
Divested businesses		(325	)		(357	)		(467	)		(340	)		(1,202	)
Provision for income tax (expense) benefit		(1,349	)		191			871			(455	)		(914	)
Income (loss) from continuing operations, net of income tax		3,442			963			(134	)		2,300			6,391
Income (loss) from discontinued operations, net of income tax		8			25			14			3			24
Net income (loss)		3,450			988			(120	)		2,303			6,415
Less: Net income (loss) attributable to noncontrolling interest		(6	)		(2	)		24			8			(8	)
Net income (loss) attributable to MetLife, Inc.		3,456			990			(144	)		2,295			6,423
Less: Preferred stock dividends		30			31			30			31			122
Less: Preferred stock redemption premium		-			-			-			-			146
Net income (loss) available to MetLife, Inc.’s common shareholders	$	3,426		$	959		$	(174	)	$	2,264		$	6,155
(1) Certain amounts in the prior periods have been revised. In the third quarter of 2012, MetLife, Inc. began reporting additional MetLife Bank operations as Divested businesses.

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METLIFE INC - FORM 8-K - EX-99.1 - HISTORICAL RESULTS FINANCIAL SUPPLEMENT - October 24, 2012

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