MetLife 2002 Annual Report Download - page 51

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METLIFE, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS — (Continued)
FOR THE YEARS ENDED DECEMBER 31, 2002, 2001 AND 2000
(Dollars in millions)
2002 2001 2000
Cash flows from financing activities
Policyholder account balances:
Deposits *********************************************************************************** $ 29,844 $ 29,167 $ 28,453
Withdrawals ******************************************************************************** (23,980) (25,704) (28,504)
Net change in short-term debt******************************************************************* 806 (730) (3,095)
Long-term debt issued ************************************************************************* 1,008 1,600 207
Long-term debt repaid ************************************************************************* (211) (372) (124)
Common stock issued ************************************************************************* — — 4,009
Treasury stock acquired ************************************************************************ (471) (1,321) (613)
Net proceeds from issuance of company-obligated mandatorily redeemable securities of subsidiary trust **** — 197 969
Cash payments to eligible policyholders *********************************************************** — — (2,550)
Dividends on common stock ******************************************************************** (147) (145) (152)
Net cash provided by (used in) financing activities **************************************************** 6,849 2,692 (1,400)
Change in cash and cash equivalents ************************************************************** (5,150) 4,039 645
Cash and cash equivalents, beginning of year******************************************************** 7,473 3,434 2,789
Cash and cash equivalents, end of year ******************************************************* $ 2,323 $ 7,473 $ 3,434
Supplemental disclosures of cash flow information:
Cash paid (refunded) during the year:
Interest ************************************************************************************ $ 424 $ 349 $ 448
Income taxes ******************************************************************************* $ 193 $ (262) $ 256
Non-cash transactions during the year:
Policy credits to eligible policyholders *********************************************************** $—$—$408
Business acquisitions — assets **************************************************************** $ 2,630 $ 1,336 $ 22,936
Business acquisitions — liabilities*************************************************************** $ 1,751 $ 1,060 $ 22,437
Business dispositions — assets **************************************************************** $ — $ 102 $ 1,184
Business dispositions — liabilities*************************************************************** $ — $ 44 $ 1,014
Real estate acquired in satisfaction of debt ****************************************************** $30$30$24
Purchase money mortgage on real estate sale *************************************************** $ 954 $ — $ 49
See accompanying notes to consolidated financial statements.
F-7