MetLife 2009 Annual Report Download - page 172
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Information regarding the closed block liabilities and assets designated to the closed block is as follows:
2009 2008
December 31,
(In millions)
Closed Block Liabilities
Futurepolicybenefits .................................................. $43,576 $43,520
Otherpolicyholderfunds ................................................ 307 315
Policyholderdividendspayable ............................................ 615 711
Payablesforcollateralundersecuritiesloanedandothertransactions ................... — 2,852
Otherliabilities....................................................... 576 254
Totalclosedblockliabilities ............................................. 45,074 47,652
Assets Designated to the Closed Block
Investments:
Fixed maturity securities available-for-sale, at estimated fair value (amortized cost: $27,129 and
$27,947, respectively) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27,375 26,205
Equity securities available-for-sale, at estimated fair value (cost: $204 and $280, respectively) . . 218 210
Mortgageloans..................................................... 6,200 7,243
Policyloans ....................................................... 4,538 4,426
Realestateandrealestatejointventuresheld-for-investment ....................... 321 381
Short-terminvestments................................................ 1 52
Otherinvestedassets................................................. 463 952
Totalinvestments .................................................. 39,116 39,469
Cashandcashequivalents............................................... 241 262
Accruedinvestmentincome .............................................. 489 484
Premiumsandotherreceivables ........................................... 78 98
Currentincometaxrecoverable............................................ 112 —
Deferredincometaxassets .............................................. 612 1,632
Totalassetsdesignatedtotheclosedblock .................................. 40,648 41,945
Excessofclosedblockliabilitiesoverassetsdesignatedtotheclosedblock............... 4,426 5,707
Amounts included in accumulated other comprehensive income (loss):
Unrealized investment gains (losses), net of income tax of $89 and ($633), respectively . . . . . . 166 (1,174)
Unrealized gains (losses) on derivative instruments, net of income tax of ($3) and ($8),
respectively...................................................... (5) (15)
Total amounts included in accumulated other comprehensive income (loss) . . . . . . . . . . . . . . 161 (1,189)
Maximum future earnings to be recognized from closed block assets and liabilities . . . . . . . . . . . $ 4,587 $ 4,518
Information regarding the closed block policyholder dividend obligation is as follows:
2008 2007
Years Ended
December 31,
(In millions)
BalanceatJanuary1, ................................................... $789 $1,063
Changeinunrealizedinvestmentandderivativegains(losses) ......................... (789) (274)
BalanceatDecember31,................................................. $ — $ 789
F-88 MetLife, Inc.
MetLife, Inc.
Notes to the Consolidated Financial Statements — (Continued)