MetLife 2009 Annual Report Download - page 126
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Equity security OTTI losses recognized in earnings relates to the following sectors and industries:
2009 2008 2007
Years Ended December 31,
(In millions)
Sector:
Non-redeemablepreferredstock........................................ $333 $319 $ 1
Commonstock ................................................... 67 111 18
Total .......................................................... $400 $430 $19
Industry:
Financial services industry:
Perpetualhybridsecurities........................................... $310 $ 90 $—
Commonandremainingnon-redeemablepreferredstock....................... 30 251 1
Totalfinancialservicesindustry ...................................... 340 341 1
Other ........................................................... 60 89 18
Total .......................................................... $400 $430 $19
Credit Loss Rollforward — Rollforward of the Cumulative Credit Loss Component of OTTI Loss Recognized in Earn-
ings on Fixed Maturity Securities Still Held for Which a Portion of the OTTI Loss was Recognized in Other Compre-
hensive Loss
The table below presents a rollforward of the cumulative credit loss component of OTTI loss recognized in earnings on fixed maturity
securities still held by the Company at December 31, 2009 for which a portion of the OTTI loss was recognized in other comprehensive loss:
Year Ended December 31, 2009
(In millions)
Balance,beginningofperiod......................................... $ —
Credit loss component of OTTI loss not reclassified to other comprehensive loss in the
cumulativeeffecttransitionadjustment ................................. 230
Additions:
Initial impairments — credit loss OTTI recognized on securities not previously impaired . . 311
Additional impairments — credit loss OTTI recognized on securities previously
impaired ................................................... 91
Reductions:
Due to sales (or maturities, pay downs or prepayments) during the period of securities
previouslycreditlossOTTIimpaired.................................. (49)
Due to increases in cash flows — accretion of previous credit loss OTTI. . . . . . . . . . . . (2)
Balance,endofperiod............................................. $581
F-42 MetLife, Inc.
MetLife, Inc.
Notes to the Consolidated Financial Statements — (Continued)