MetLife 2008 Annual Report Download - page 128
Download and view the complete annual report
Please find page 128 of the 2008 MetLife annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118 -
119 -
120 -
121 -
122 -
123 -
124 -
125 -
126 -
127 -
128 -
129 -
130 -
131 -
132 -
133 -
134 -
135 -
136 -
137 -
138 -
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
-
197
-
198
-
199
-
200
-
201
-
202
-
203
-
204
-
205
-
206
-
207
-
208
-
209
-
210
-
211
-
212
-
213
-
214
-
215
-
216
-
217
-
218
-
219
-
220
-
221
-
222
-
223
-
224
-
225
-
226
-
227
-
228
-
229
-
230
-
231
-
232
-
233
-
234
-
235
-
236
-
237
-
238
-
239
-
240
 |
 |
MetLife, Inc.
Consolidated Statements of Cash Flows
For the Years Ended December 31, 2008, 2007 and 2006
(In millions)
2008 2007 2006
Cash flows from operating activities
Netincome ........................................................ $ 3,209 $ 4,317 $ 6,293
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciationandamortizationexpenses................................... 375 457 394
Amortization of premiums and accretion of discounts associated with investments, net . . . . . (939) (955) (618)
(Gains)lossesfromsalesofinvestmentsandbusinesses,net..................... (1,127) 619 (3,492)
Undistributed equity earnings of real estate joint ventures and other limited partnership
interests...................................................... 679 (606) (459)
Interestcreditedtopolicyholderaccountbalances ............................ 4,912 5,790 5,246
Interestcreditedtobankdeposits....................................... 166 200 193
Universallifeandinvestment-typeproductpolicyfees.......................... (5,462) (5,310) (4,779)
Changeinaccruedinvestmentincome.................................... 428 (275) (315)
Changeinpremiumsandotherreceivables................................. (1,929) (283) (2,655)
Changeindeferredpolicyacquisitioncosts,net.............................. 545 (1,178) (1,317)
Changeininsurance-relatedliabilities..................................... 5,307 5,463 5,031
Changeintradingsecurities........................................... (418) 200 (432)
Changeinresidentialmortgageloansheld-for-sale,net......................... (1,946) — —
Changeinmortgageservicingrights ..................................... (185) — —
Changeinincometaxpayable ......................................... 920 101 2,039
Changeinotherassets.............................................. 5,737 582 1,665
Changeinotherliabilities............................................. 232 729 (202)
Other,net ...................................................... 199 51 (38)
Netcashprovidedbyoperatingactivities ..................................... 10,703 9,902 6,554
Cash flows from investing activities
Sales, maturities and repayments of:
Fixed maturity securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 102,250 112,062 113,321
Equitysecurities .................................................. 2,707 1,738 1,313
Mortgageandconsumerloans......................................... 6,077 9,854 8,348
Realestateandrealestatejointventures .................................. 140 664 6,211
Otherlimitedpartnershipinterests....................................... 593 1,121 1,768
Purchases of:
Fixed maturity securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (86,874) (112,534) (129,644)
Equitysecurities .................................................. (1,494) (2,883) (1,052)
Mortgageandconsumerloans......................................... (10,096) (14,365) (13,472)
Realestateandrealestatejointventures .................................. (1,170) (2,228) (1,523)
Otherlimitedpartnershipinterests....................................... (1,643) (2,041) (1,915)
Netchangeinshort-terminvestments...................................... (11,269) 55 595
Additionalconsiderationrelatedtopurchasesofbusinesses ....................... — — (115)
Purchases of businesses, net of cash received of $314, $13 and $0, respectively . . . . . . . . . (469) (43) —
(Payments) proceeds from sales of businesses, net of cash disposed of $0, $763 and $0,
respectively ..................................................... (4) (694) 48
Disposalofsubsidiary ................................................ (313) — —
Netchangeinotherinvestedassets....................................... (492) (1,020) (2,411)
Netchangeinpolicyloans ............................................. (467) (190) (247)
Other,net........................................................ (147) (140) (111)
Netcashusedininvestingactivities ........................................ $ (2,671) $ (10,644) $ (18,886)
See accompanying notes to the consolidated financial statements.
F-5MetLife, Inc.