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C » Topics » MetLife and Legg Mason Equity Securities

This excerpt taken from the C 10-Q filed Aug 4, 2006.

MetLife and Legg Mason Equity Securities

Company
   Type of
Ownership
   Shares
owned on
June 30,
2006
   Sale Restriction
   Market Value as
of June 30, 2006
($ millions)
   Pretax
Unrealized
Gains/(Losses)
as of
June 30, 2006
($ million)
  
MetLife, Inc.(1)   Common stock
representing
approximately
3.0% ownership		   22.4 million   May be sold in private offerings until July 1, 2006. Thereafter, may be sold publicly   $ 1,149   $ 149  
   
 
 
 
 
 
Legg Mason, Inc.   Non-voting convertible
preferred stock representing
approximately 6.2%
ownership		   8.4 shares
(convertible
into 8.4
million shares
of common
stock upon
sale to non-
affiliate)		   2.2 million shares may be sold publicly at any time and the remaining 6.2 million shares may be sold after December 1, 2006   $ 835   $ (195 )
   
 
 
 
 
 
Total               $ 1,984   $ (46 )
   
 
 
 
 
 
(1)
The pretax unrealized gain excludes the effects from the Company's hedging activities related to these shares. All shares were sold and the hedging contracts closed on July 3, 2006.
This excerpt taken from the C 10-Q filed May 5, 2006.

MetLife and Legg Mason Equity Securities

Company
   Type of Ownership
   Shares owned on March 31, 2006
   Sale Restriction
   Market Value as of March 31, 2006
($ millions)
   Pretax Unrealized Gains as of March 31, 2006
($ millions)
MetLife, Inc.(1)   Common stock representing approximately 3.0% ownership   22.4 million   May be sold in private offerings until July 1, 2006. Thereafter, may be sold publicly   $ 1,085   $ 85

Legg Mason, Inc.
 
Non-voting convertible preferred stock representing approximately 6.2% ownership
 
8.4 shares (convertible into 8.4 million shares of common stock upon sale to non-affiliate)
 
2.2 million shares may be sold publicly at any time and the remaining 6.2 million shares may be sold after December 1, 2006
 
 
1,052
 
 
22
               
 
Total               $ 2,137   $ 107
               
 
(1)
The pretax unrealized gain excludes the effects from The Company's hedging activities related to these shares. The hedges covered approximately 84% of shares owned as of March 31, 2006.

43

EXCERPTS ON THIS PAGE:

10-Q
Aug 4, 2006
10-Q
May 5, 2006

RELATED TOPICS for C:

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