MetLife 2007 Annual Report Download - page 175

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after the sale of SSRM. The following table presents the amounts relatedtooperationsofSSRMthathavebeencombinedwiththe
discontinued real estate operations in the consolidated statements of income:
2007 2006 2005
Years Ended
December 31,
(In millions)
Revenues............................................................... $— $— $ 19
Expenses ............................................................... — — 38
Incomefromdiscontinuedoperationsbeforeprovisionforincometax......................... — — (19)
Provisionforincometax...................................................... — — (5)
Netinvestmentgain,netofincometax ............................................ 14 32 177
Incomefromdiscontinuedoperations,netofincometax................................ $14 $32 $163
24. Fair Value Information
The estimated fair value of financial instruments have been determined by using available market information and the valuation
methodologies described below. Considerable judgment is often required in interpreting market data to develop estimates of fair value.
Accordingly, the estimates presented herein may not necessarily be indicative of amounts that could be realized in a current market
exchange. The use of different assumptions or valuation methodologies may have a material effect on the estimated fair value amounts.
The implementation of SFAS 157 may impact the fair value assumptions and methodologies associated with the valuation of assets and
liabilities. See also Note 1 regarding the adoption of SFAS 157.
Amounts related to the Company’s financial instruments are as follows:
December 31, 2007
Notional
Amount Carrying
Value Estimated
Fair Value
(In millions)
Assets:
Fixedmaturitysecurities ........................................... $242,242 $242,242
Tradingsecurities................................................ $ 779 $ 779
Equitysecurities................................................. $ 6,050 $ 6,050
Mortgageandconsumerloans ....................................... $ 47,030 $ 47,599
Policyloans ................................................... $ 10,419 $ 10,419
Short-terminvestments............................................ $ 2,648 $ 2,648
Cashandcashequivalents ......................................... $ 10,368 $ 10,368
Accruedinvestmentincome......................................... $ 3,630 $ 3,630
Mortgageloancommitments......................................... $4,035 $ — $ (43)
Commitments to fund bank credit facilities, bridge loans and private corporate bond
investments.................................................. $1,196 $ — $ (59)
Liabilities:
Policyholderaccountbalances ....................................... $115,385 $114,466
Short-termdebt................................................. $ 667 $ 667
Long-termdebt................................................. $ 9,628 $ 9,532
Collateralfinancingarrangements ..................................... $ 5,732 $ 5,365
Juniorsubordinateddebtsecurities.................................... $ 4,474 $ 4,338
Sharessubjecttomandatoryredemption................................. $ 159 $ 178
Payables for collateral under securities loaned and other transactions . . . . . . . . . . . . . . . . . . . $ 44,136 $ 44,136
F-79MetLife, Inc.
MetLife, Inc.
Notes to Consolidated Financial Statements — (Continued)