2008 Form 1120-L (Schedule M-3)
OMB No. 1545-0128
SCHEDULE M-3
Net Income (Loss) Reconciliation for U.S. Life Insurance
Companies With Total Assets of $10 Million or More
(Form 1120-L)
Attach to Form 1120-L.
Department of the Treasury
Internal Revenue Service
Name of corporation (common parent, if consolidated return)
Employer identification number
Financial Information and Net Income (Loss) Reconciliation (see instructions)
Schedule M-3 (Form 1120-L) 2008
For Paperwork Reduction Act Notice, see the Instructions for Form 1120-L.
Cat. No. 39668S
Part I
Did the corporation file SEC Form 10-K for its income statement period ending with or within this tax year?
b
c
Yes. Skip lines 1b and 1c and complete lines 2a through 11 with respect to that SEC Form 10-K.
No. Go to line 1b. See instructions if multiple non-tax-basis income statements are prepared.
1a
2a
b
3a
Enter the income statement period:
Beginning
/
Ending
Has the corporation's income statement been restated for the income statement period on line 2a?
Yes. (If "Yes," attach an explanation and the amount of each item restated.)
No.
Is any of the corporation's voting common stock publicly traded?
Enter the nine-digit CUSIP number of the corporation's primary publicly traded voting
common stock
/
/
/
4a
5a
6a
b
8
c
Worldwide consolidated net income (loss) from income statement source identified in Part I, line 1
11
Net income from nonincludible foreign entities (attach schedule)
Net income from nonincludible U.S. entities (attach schedule)
Net income (loss) of other includible U.S. disregarded entities (attach schedule)
Adjustment to eliminations of transactions between includible entities and nonincludible entities
(attach schedule)
Other adjustments to reconcile to amount on line 11 (attach schedule)
Net income (loss) per income statement of includible corporations. Combine lines 4a through 10c
4a
5a
6a
7b
8
10c
11
See separate instructions.
9
Adjustment to reconcile income statement period to tax year (attach schedule)
9
Did the corporation prepare a certified audited non-tax-basis income statement for that period?
Yes. Skip line 1c and complete lines 2a through 11 with respect to that income statement.
No. Go to line 1c.
Did the corporation prepare a non-tax-basis income statement for that period?
Yes. Complete lines 2a through 11 with respect to that income statement.
No. Skip lines 2a through 3c and enter the corporation's net income (loss) per its books and records on line 4a.
b
b
Net loss from nonincludible foreign entities (attach schedule and enter as a positive amount)
b
Net loss from nonincludible U.S. entities (attach schedule and enter as a positive amount)
5b
6b
Enter the symbol of the corporation's primary U.S. publicly traded voting common stock
c
Has the corporation's income statement been restated for any of the five income statement periods preceding the period on line 2a?
Yes. (If "Yes," attach an explanation and the amount of each item restated.)
No.
Yes.
No. If "No," go to line 4a.
c
c
Net income (loss) of other includible corporations (attach schedule)
7c
(
)
(
)
Check applicable box(es):
Non-consolidated return
Consolidated return (Form 1120-L only)
(1)
(2)
Mixed 1120/L/PC group
Dormant subsidiaries schedule attached
(3)
(4)
10a
Intercompany dividend adjustments to reconcile to line 11 (attach schedule)
b
Other statutory accounting adjustments to reconcile to line 11 (attach schedule)
10b
10a
2008
4b
Indicate accounting standard used for line 4a (see instructions):
(1)
GAAP
(2)
IFRS
(3)
Statutory
(4)
Other (specify)
7a
Net income (loss) of other includible foreign disregarded entities (attach schedule)
7a
12
Enter the total amount (not just the corporation's share) of the assets and liabilities of all entities
included or removed on the following lines.
Total Assets
Total Liabilities
a
Included on Part I, line 4
b
Removed on Part I, line 5
c
Removed on Part I, line 6
d
Included on Part I, line 7
Note. Part I, line 11, must equal the amount on Part II, line 30, column (a).
Page
2
Schedule M-3 (Form 1120-L) 2008
Income (Loss) Items
(d)
Income (Loss) per
Tax Return
(c)
Permanent
Difference
(b)
Temporary
Difference
(a)
Income (Loss) per
Income Statement
Income (loss) from equity method foreign corporations
1
Gross foreign dividends not previously taxed
2
Subpart F, QEF, and similar income inclusions
3
Section 78 gross-up
4
Gross foreign distributions previously taxed
5
Income (loss) from equity method U.S. corporations
6
U.S. dividends not eliminated in tax consolidation
7
Minority interest for includible corporations
8
Income (loss) from U.S. partnerships
9
Income (loss) from foreign partnerships
10
Income (loss) from other pass-through entities
Items relating to reportable transactions (attach details)
11
12
13
Interest income (attach Form 8916-A)
14
Hedging transactions
16
Mark-to-market income (loss)
17
Deferred and uncollected premiums
18
19
20
Sale versus lease (for sellers and/or lessors)
Section 481(a) adjustments
Amortization of interest maintenance reserve
21
Original issue discount and other imputed interest
Reconciliation of Net Income (Loss) per Income Statement of Includible Corporations With
Taxable Income per Return (see instructions)
Schedule M-3 (Form 1120-L) 2008
Accrual of bond discount
15
Part II
Name of corporation (common parent, if consolidated return)
Employer identification number
Name of subsidiary (if consolidated return)
Employer identification number
26
28
30
Other items with no differences
Total income (loss) items. Combine lines 1 through 25
Total expense/deduction items (from Part III, line 39)
Reconciliation totals. Combine lines 29a through 29c
Note. Line 30, column (a) must equal the amount on Part I, line 11, and column (d) must equal Form 1120-L, page 1, line 20.
27
23a
b
c
Gross capital gains from Schedule D, excluding
amounts from pass-through entities
e
Gross capital losses from Schedule D, excluding
amounts from pass-through entities, abandonment
losses, and worthless stock losses
f
Income statement gain/loss on sale, exchange,
abandonment, worthlessness, or other disposition of
assets other than pass-through entities
d
g
Net gain/loss reported on Form 4797, line 17,
excluding amounts from pass-through entities,
abandonment losses, and worthless stock losses
Other gain/loss on disposition of assets
Abandonment losses
24
25
Other income (loss) items with differences (attach schedule)
Capital loss limitation and carryforward used
Check applicable box(es):
(1)
Consolidated group
(2)
Parent corp (3)
Consolidated eliminations (4)
Subsidiary corp (5)
Mixed 1120/L/PC group
22
Market discount reclassification
29a
Mixed groups, see instructions. All others,
combine lines 26 through 28
b
1120 subgroup reconciliation totals
PC insurance subgroup reconciliation totals
c
Check if a sub-consolidated:
(6)
1120-L group
(7)
1120-L eliminations
Worthless stock losses (attach details)
(Attach schedules for lines 1 through 11)
Page
3
Expense/Deduction Items
(d)
Deduction per
Tax Return
(c)
Permanent
Difference
(b)
Temporary
Difference
(a)
Expense per
Income Statement
Reconciliation of Net Income (Loss) per Income Statement of Includible Corporations With
Taxable Income per Return--Expense/Deduction Items (see instructions)
Schedule M-3 (Form 1120-L) 2008
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
22
23
24
25
26
27
29
30
31
32
33
34
35
U.S. current income tax expense
U.S. deferred income tax expense
State and local current income tax expense
State and local deferred income tax expense
Foreign current income tax expense (other than
foreign withholding taxes)
Foreign deferred income tax expense
Foreign withholding taxes
Equity-based compensation
Capitalization of deferred acquisition costs
Amortization of deferred acquisition costs
Meals and entertainment
Fines and penalties
Judgments, damages, awards, and similar costs
Parachute payments
Compensation with section 162(m) limitation
Charitable contribution of cash and tangible property
Charitable contribution of intangible property
Change in section 807(c)(1) tax reserves
Change in section 807(c)(2) tax reserves
Section 807(f) adjustments for change in computing
reserves
Change in all other section 807(c) tax reserves
Section 807(a)(2)(B) tax reserve amount with respect to
policyholder share of tax-exempt interest
Amortization/impairment of goodwill, insurance in
force and ceding commissions
Amortization of acquisition, reorganization, and
start-up costs
Other amortization or impairment write-offs
Section 846 amount
Depreciation
Bad debt expense/agency balances written off
Corporate owned life insurance premiums
Other expense/deduction items with differences
(attach schedule)
Total expense/deduction items. Combine lines 1 through
38. Enter here and on Part II, line 27, reporting positive
amounts as negative and negative amounts as positive
28
Part III
Pension and profit-sharing
Other post-retirement benefits
Deferred compensation
Current year acquisition/reorganization costs
(attach schedule)
39
38
Purchase versus lease (for purchasers and/or lessees)
21
Charitable contribution limitation/carryforward
36
Interest expense (attach Form 8916-A)
37
Domestic production activities deduction
Schedule M-3 (Form 1120-L) 2008
Name of corporation (common parent, if consolidated return)
Employer identification number
Name of subsidiary (if consolidated return)
Employer identification number
Check applicable box(es):
(1)
Consolidated group
(2)
Parent corp (3)
Consolidated eliminations (4)
Subsidiary corp (5)
Mixed 1120/L/PC group
Check if a sub-consolidated:
(6)
1120-L group
(7)
1120-L eliminations