MetLife 2002 Annual Report Download - page 47

METLIFE, INC.
CONSOLIDATED BALANCE SHEETS
DECEMBER 31, 2002 AND 2001
(Dollars in millions, except share and per share data)
2002 2001
ASSETS
Investments:
Fixed maturities available-for-sale, at fair value (amortized cost: $133,152 and $112,288, respectively) ******************* $140,553 $115,398
Equity securities, at fair value (cost: $1,303 and $2,459, respectively) ****************************************** 1,348 3,063
Mortgage loans on real estate**************************************************************************** 25,086 23,621
Policy loans ******************************************************************************************* 8,580 8,272
Real estate and real estate joint ventures held-for-investment************************************************** 4,496 4,054
Real estate held-for-sale ******************************************************************************** 229 1,676
Other limited partnership interests************************************************************************* 2,395 1,637
Short-term investments ********************************************************************************* 1,921 1,203
Other invested assets ********************************************************************************** 3,727 3,298
Total investments ******************************************************************************** 188,335 162,222
Cash and cash equivalents ******************************************************************************** 2,323 7,473
Accrued investment income ******************************************************************************* 2,088 2,062
Premiums and other receivables**************************************************************************** 7,669 6,509
Deferred policy acquisition costs *************************************************************************** 11,727 11,167
Other assets ******************************************************************************************** 5,550 4,823
Separate account assets********************************************************************************** 59,693 62,714
Total assets ************************************************************************************* $277,385 $256,970
LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities:
Future policy benefits *********************************************************************************** $ 89,815 $ 84,924
Policyholder account balances *************************************************************************** 66,830 58,923
Other policyholder funds ******************************************************************************** 5,685 5,404
Policyholder dividends payable *************************************************************************** 1,030 1,046
Policyholder dividend obligation*************************************************************************** 1,882 708
Short-term debt *************************************************************************************** 1,161 355
Long-term debt **************************************************************************************** 4,425 3,628
Current income taxes payable**************************************************************************** 769 306
Deferred income taxes payable*************************************************************************** 1,625 1,526
Payables under securities loaned transactions ************************************************************** 17,862 12,661
Other liabilities ***************************************************************************************** 7,958 7,457
Separate account liabilities******************************************************************************* 59,693 62,714
Total liabilities************************************************************************************ 258,735 239,652
Commitments and contingencies (Note 11)
Company-obligated mandatorily redeemable securities of subsidiary trusts***************************************** 1,265 1,256
Stockholders’ Equity:
Preferred stock, par value $0.01 per share; 200,000,000 shares authorized; none issued ************************* ——
Series A junior participating preferred stock***************************************************************** ——
Common stock, par value $0.01 per share; 3,000,000,000 shares authorized; 786,766,664 shares issued at
December 31, 2002 and December 31, 2001; 700,278,412 shares outstanding at December 31, 2002 and
715,506,525 shares outstanding at December 31, 2001*************************************************** 88
Additional paid-in capital ******************************************************************************** 14,968 14,966
Retained earnings************************************************************************************** 2,807 1,349
Treasury stock, at cost; 86,488,252 shares at December 31, 2002 and 71,260,139 shares at December 31, 2001*** (2,405) (1,934)
Accumulated other comprehensive income***************************************************************** 2,007 1,673
Total stockholders’ equity************************************************************************** 17,385 16,062
Total liabilities and stockholders’ equity ************************************************************** $277,385 $256,970
See accompanying notes to consolidated financial statements.
MetLife, Inc. F-3