MetLife 2009 Annual Report Download - page 159

Net
Investment
Income
Net
Investment
Gains
(Losses) Other Revenues
Policyholder
Benefits and
Claims Other Expenses Total
Changes in Unrealized Gains (Losses)
Relating to Assets and Liabilities Held at December 31, 2009
(In millions)
Tradingsecurities .............................. $15 $ — $ — $ — $ — $ 15
Short-terminvestments........................... $— $ 1 $ — $ — $ — $ 1
Mortgageloans................................ $— $ — $ (3) $ — $ — $ (3)
Netderivatives ................................ $(13) $ (194) $ 5 $ — $ (2) $ (204)
Mortgageservicingrights ......................... $— $ — $147 $ — $ — $ 147
Net embedded derivatives . . . . . . . . . . . . . . . . . . . . . . . . . $ — $1,697 $ — $(114) $ — $1,583
Net
Investment
Income
Net
Investment
Gains
(Losses) Other Revenues
Policyholder
Benefits and
Claims Other Expenses Total
Changes in Unrealized Gains (Losses)
Relating to Assets and Liabilities Held at December 31, 2008
(In millions)
For the Year Ended December 31, 2008:
Fixed maturity securities:
U.S.corporatesecurities........................ $ 12 $ (497) $ — $ — $— $ (485)
RMBS.................................... 4 — — — — 4
Foreigncorporatesecurities...................... 117 (125) — — — (8)
U.S. Treasury, agency and government guaranteed
securities ................................ — — — — — —
CMBS.................................... 4 (69) — — — (65)
ABS ..................................... 3 (102) — — — (99)
Foreigngovernmentsecurities .................... 23 — — — — 23
Stateandpoliticalsubdivisionsecurities.............. (1) — — — — (1)
Otherfixedmaturitysecurities..................... 1 — — — — 1
Totalfixedmaturitysecurities.................... $163 $ (793) $ — $ — $— $ (630)
Equity securities:
Commonstock .............................. $ — $ (1) $ — $ — $— $ (1)
Non-redeemablepreferredstock................... — (163) — — — (163)
Totalequitysecurities......................... $ — $ (164) $ — $ — $— $ (164)
Tradingsecurities.............................. $(17) $ — $ — $ — $— $ (17)
Short-terminvestments .......................... $ — $ — $ — $ — $— $ —
Mortgageloans ............................... $ — $ — $ 3 $ — $— $ 3
Netderivatives................................ $114 $1,504 $ 38 $ — $— $1,656
Mortgage servicing rights . . . . . . . . . . . . . . . . . . . . . . . . . $ — $ — $(150) $ — $— $ (150)
Netembeddedderivatives ........................ $ — $(2,779) $ — $182 $— $(2,597)
Fair Value Option — Mortgage Loans Held-For-Sale
The Company has elected fair value accounting for certain residential mortgage loans held-for-sale. The following table presents
residential mortgage loans held-for-sale carried under the fair value option at:
2009 2008
December 31,
(In millions)
Unpaidprincipalbalance.................................................. $2,418 $1,920
Excessestimatedfairvalueoverunpaidprincipalbalance............................. 52 55
Carryingvalueatestimatedfairvalue.......................................... $2,470 $1,975
Loansinnon-accrualstatus................................................ $ 4 $ —
Loansmorethan90dayspastdue ........................................... $ 2 $ —
Loans in non-accrual status or more than 90 days past due, or both — difference between
aggregateestimatedfairvalueandunpaidprincipalbalance.......................... $ (2) $ —
F-75MetLife, Inc.
MetLife, Inc.
Notes to the Consolidated Financial Statements — (Continued)