Metlife (MET) FY2012 results: revenue $68.2 billion, down 3.0% on the year
Metlife Inc. (MET) reported revenue of $68.2 billion for fiscal 2012, the year ended 31 December 2012, down 3.0% on the year before. Net income was $1.3 billion, down 79.4%, and diluted earnings per share $1.12. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2013.
Revenue
$68.2 billion
-3.0% on the year
FY2007FY2012
Operating margin
2.1%
13.1% a year earlier
FY2007FY2012
Net income
$1.3 billion
-79.4% on the year
FY2007FY2012
Diluted EPS
$1.12
-80.6% on the year
FY2007FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
68,150
70,262
52,247
-3.0%
Operating income
1,442
9,205
3,729
-84.3%
Operating margin
2.1%
13.1%
7.1%
Interest expense
871
975
1,550
-10.7%
Pre-tax income
1,442
9,184
3,729
-84.3%
Income tax
128
2,793
1,110
-95.4%
Effective tax rate
8.9%
30.4%
29.8%
Net income
1,324
6,423
2,667
-79.4%
Net margin
1.9%
9.1%
5.1%
Diluted EPS
$1.12
$5.76
$2.86
-80.6%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
17,160
10,290
7,996
+66.8%
Cash from investing
-11,929
-22,235
-18,314
Cash from financing
35.0
9,382
13,381
-99.6%
Depreciation and amortisation
358
259
193
+38.2%
Share-based compensation
168
144
84.0
+16.7%
Buybacks
0.0
n/a
0.0
Dividends paid
811
787
784
+3.0%
Dividend per share
$0.74
$0.74
$0.74
0.0%
Diluted shares, weighted
1,077m
1,068m
890m
+0.8%
Shares outstanding at period end
1,092m
1,058m
986m
+3.2%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
64,453
57,519
46,853
+12.1%
Non-controlling interest
384
370
365
+3.8%
Redeemable equity
121
n/a
n/a
Deposits
6,416
10,507
10,316
-38.9%
Short-term borrowings
100
686
306
-85.4%
Debt
n/a
23,692
27,586
Other liabilities
765,307
703,452
642,823
+8.8%
Total liabilities and equity
836,781
796,226
728,249
+5.1%
Goodwill
9,953
11,935
11,781
-16.6%
Intangible assets
1,108
1,264
1,094
-12.3%
Investments
318,567
292,896
9,387
+8.8%
Loans
53,926
53,777
52,136
+0.3%
Trading assets
659
473
463
+39.3%
Cash and equivalents
15,738
10,461
12,957
+50.4%
Other assets
436,830
425,420
640,431
+2.7%
Total assets
836,781
796,226
728,249
+5.1%
10-K for the year ended 31 December 2012, filed 27 February 2013: the filing.