MetLife 2009 Annual Report Download - page 92

MetLife, Inc.
Consolidated Statements of Cash Flows — (Continued)
For the Years Ended December 31, 2009, 2008 and 2007
(In millions)
2009 2008 2007
Cash flows from financing activities
Policyholder account balances:
Deposits ....................................................... $77,517 $70,051 $54,977
Withdrawals ..................................................... (79,799) (56,406) (51,903)
Netchangeinpayablesforcollateralundersecuritiesloanedandothertransactions....... (6,863) (13,077) (1,710)
Netchangeinbankdeposits ........................................... 3,164 2,185 (305)
Netchangeinshort-termdebt .......................................... (1,747) 1,992 (782)
Long-termdebtissued ............................................... 2,961 339 726
Long-termdebtrepaid................................................ (555) (422) (286)
Collateralfinancingarrangementsissued.................................... 105 310 4,882
Cash received in connection with collateral financing arrangements .................. 775 — —
Cash paid in connection with collateral financing arrangements . .................... (400) (800) —
Juniorsubordinateddebtsecuritiesissued .................................. 500 750 694
Sharessubjecttomandatoryredemption ................................... — — (131)
Debtissuancecosts................................................. (30) (34) (14)
Commonstockissued,netofissuancecosts ................................ — 290 —
Commonstockissuedtosettlestockforwardcontracts.......................... 1,035 — —
Stockoptionsexercised .............................................. 8 45 110
Treasurystockacquiredinconnectionwithsharerepurchaseagreements.............. — (1,250) (1,705)
Treasury stock issued in connection with common stock issuance, net of issuance costs . . . — 1,936 —
Treasurystockissuedtosettlestockforwardcontracts.......................... — 1,035 —
Dividendsonpreferredstock ........................................... (122) (125) (137)
Dividendsoncommonstock............................................ (610) (592) (541)
Other,net........................................................ (42) (38) 67
Netcash(usedin)providedbyfinancingactivities............................... (4,103) 6,189 3,942
Effectofchangeinforeigncurrencyexchangeratesoncashbalances ................. 108 (349) 61
Changeincashandcashequivalents....................................... (14,127) 13,871 3,261
Cashandcashequivalents,beginningofyear.................................. 24,239 10,368 7,107
Cash and cash equivalents, end of year .................................. $10,112 $24,239 $10,368
Cashandcashequivalents,subsidiariesheld-for-sale,beginningofyear................ $ 32 $ 407 $ 170
Cash and cash equivalents, subsidiaries held-for-sale, end of year .............. $ — $ 32 $ 407
Cashandcashequivalents,fromcontinuingoperations,beginningofyear............... $24,207 $ 9,961 $ 6,937
Cash and cash equivalents, from continuing operations, end of year ............. $10,112 $24,207 $ 9,961
Supplemental disclosures of cash flow information:
Net cash paid during the year for:
Interest ........................................................ $ 989 $ 1,107 $ 1,011
Incometax...................................................... $ 397 $ 27 $ 2,128
Non-cash transactions during the year:
Business acquisitions:
Assetsacquired................................................. $ — $ 2,083 $ —
Cashpaid..................................................... — (783) —
Liabilitiesassumed ............................................... $ — $ 1,300 $ —
Disposal of subsidiary:
Assetsdisposed................................................. $ — $22,135 $ —
Liabilitiesdisposed ............................................... — (20,689) —
Netassetsdisposed.............................................. — 1,446 —
Cashdisposed.................................................. — 270 —
Transaction costs, including cash paid of $19, $43 and $0, respectively ............ 2 60 —
Treasurystockreceivedincommonstockexchange......................... — (1,318) —
Lossondisposalofsubsidiary ....................................... $ 2 $ 458 $ —
Remarketing of debt securities:
Fixed maturity securities redeemed . . . ................................. $ 32 $ 32 $ —
Long-termdebtissued............................................. $ 1,035 $ 1,035 $ —
Junior subordinated debt securities redeemed . . ........................... $ 1,067 $ 1,067 $ —
ContributionofequitysecuritiestoMetLifeFoundation .......................... $ — $ — $ 12
Purchasemoneymortgagesonrealestatesale ............................... $ 93 $ — $ —
Fixedmaturitysecuritiesreceivedinconnectionwithinsurancecontractcommutation...... $ — $ 115 $ —
Realestateandrealestatejointventuresacquiredinsatisfactionofdebt .............. $ 211 $ 1 $ 1
See accompanying notes to the consolidated financial statements.
F-8 MetLife, Inc.