MetLife 2003 Annual Report Download - page 52

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METLIFE, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS — (Continued)
FOR THE YEARS ENDED DECEMBER 31, 2003, 2002 AND 2001
(Dollars in millions)
2003 2002 2001
Cash flows from financing activities
Policyholder account balances:
Deposits ********************************************************************************** $ 37,023 $ 31,061 $ 31,421
Withdrawals ******************************************************************************* (28,674) (25,151) (27,899)
Net change in short-term debt****************************************************************** 2,481 806 (730)
Long-term debt issued ************************************************************************ 934 1,008 1,600
Long-term debt repaid ************************************************************************ (763) (211) (372)
Treasury stock acquired *********************************************************************** (97) (471) (1,321)
Settlement of common stock purchase contracts ************************************************** 1,006 — —
Net proceeds from issuance of company-obligated mandatorily redeemable securities of subsidiary trust *** — — 197
Dividends on common stock ******************************************************************* (175) (147) (145)
Net cash provided by financing activities *********************************************************** 11,735 6,895 2,751
Change in cash and cash equivalents ************************************************************* 1,410 (5,150) 4,039
Cash and cash equivalents, beginning of year ****************************************************** 2,323 7,473 3,434
Cash and cash equivalents, end of year ******************************************************* $ 3,733 $ 2,323 $ 7,473
Supplemental disclosures of cash flow information:
Cash paid (refunded) during the year:
Interest *********************************************************************************** $ 505 $ 424 $ 349
Income taxes ****************************************************************************** $ 702 $ 193 $ (262)
Non-cash transactions during the year:
Business acquisitions — assets *************************************************************** $ 126 $ 2,630 $ 1,336
Business acquisitions — liabilities************************************************************** $ 144 $ 1,751 $ 1,060
Business dispositions — assets *************************************************************** $ 9 $ — $ 102
Business dispositions — liabilities************************************************************** $4$—$44
Purchase money mortgage on real estate sale ************************************************** $ 196 $ 954 $ —
MetLife Capital Trust I transactions ************************************************************ $ 1,037 $ — $ —
Real estate acquired in satisfaction of debt ***************************************************** $ 14 $ 30 $ 30
See accompanying notes to consolidated financial statements.
MetLife, Inc. F-7