MetLife 2006 Annual Report Download - page 88

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METLIFE, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED DECEMBER 31, 2006, 2005 AND 2004
(In millions)
2006 2005 2004
Cash flows from operating activities
Netincome......................................................... $ 6,293 $ 4,714 $ 2,758
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciationandamortizationexpenses ................................... 394 352 444
Amortization of premiums and accretion of discounts associated with investments, net . . . . . (618) (201) (110)
(Gains)lossesfromsalesofinvestmentsandbusinesses,net ..................... (3,492) (2,271) (302)
Equity earnings of real estate joint ventures
andotherlimitedpartnershipinterests ................................... (459) (416) (153)
Interestcreditedtopolicyholderaccountbalances............................. 5,246 3,925 2,997
Interestcreditedtobankdeposits........................................ 193 106 38
Universallifeandinvestment-typeproductpolicyfees .......................... (4,780) (3,828) (2,867)
Changeinaccruedinvestmentincome .................................... (315) (157) (142)
Changeinpremiumsandotherreceivables ................................. (2,655) (37) 78
Changeindeferredpolicyacquisitioncosts,net .............................. (1,317) (1,043) (1,331)
Changeininsurance-relatedliabilities..................................... 5,031 5,709 5,346
Changeintradingsecurities ........................................... (432) (244) —
Changeinincometaxpayable.......................................... 2,039 528 (135)
Changeinotherassets .............................................. 1,712 347 (492)
Changeinotherliabilities............................................. (202) 506 351
Other,net....................................................... (38) 29 30
Netcashprovidedbyoperatingactivities...................................... 6,600 8,019 6,510
Cash flows from investing activities
Sales, maturities and repayments of:
Fixed maturity securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 113,321 155,709 87,451
Equitysecurities................................................... 1,313 1,062 1,686
Mortgageandconsumerloans.......................................... 8,348 8,462 3,954
Realestateandrealestatejointventures................................... 6,211 3,668 1,268
Otherlimitedpartnershipinterests ....................................... 1,768 1,132 799
Purchases of:
Fixed maturity securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (129,644) (169,111) (94,275)
Equitysecurities................................................... (1,052) (1,509) (2,178)
Mortgageandconsumerloans.......................................... (13,472) (10,902) (9,931)
Realestateandrealestatejointventures................................... (1,523) (1,451) (872)
Otherlimitedpartnershipinterests ....................................... (1,915) (1,105) (894)
Netchangeinshort-terminvestments ...................................... 595 2,267 (740)
Additionalconsiderationrelatedtopurchasesofbusinesses........................ (115) — —
Purchases of businesses, net of cash received of $0, $852 and $0, respectively . . . . . . . . . . — (10,160) (7)
Proceeds from sales of businesses, net of cash disposed of $0, $43 and $103, respectively. . . 48 260 29
Netchangeinotherinvestedassets ....................................... (2,411) (450) (566)
Other,net ........................................................ (358) (489) (134)
Netcashusedininvestingactivities......................................... $ (18,886) $ (22,617) $(14,410)
See accompanying notes to consolidated financial statements.
F-5MetLife, Inc.