MetLife 2010 Annual Report Download - page 97

MetLife, Inc.
Consolidated Statements of Cash Flows — (Continued)
For the Years Ended December 31, 2010, 2009 and 2008
(In millions)
2010 2009 2008
Cash flows from financing activities
Policyholder account balances:
Deposits ................................................................... $ 74,296 $77,517 $70,051
Withdrawals ................................................................. (69,739) (79,799) (56,406)
Netchangeinpayablesforcollateralundersecuritiesloanedandothertransactions ........................ 3,076 (6,863) (13,077)
Netchangeinbankdeposits......................................................... (32) 3,164 2,185
Netchangeinshort-termdebt........................................................ (606) (1,747) 1,992
Long-termdebtissued ............................................................ 5,090 2,961 339
Long-termdebtrepaid ............................................................ (1,061) (555) (422)
Collateralfinancingarrangementsissued.................................................. — 105 310
Cash received in connection with collateral financing arrangements . . . ............................... — 775 —
Cash paid in connection with collateral financing arrangements . . ................................... — (400) (800)
Juniorsubordinateddebtsecuritiesissued................................................. — 500 750
Debtissuancecosts.............................................................. (14) (30) (34)
Commonstockissued,netofissuancecosts ............................................... 3,576 — 290
Commonstockissuedtosettlestockforwardcontracts......................................... — 1,035 —
Treasurystockacquiredinconnectionwithsharerepurchaseagreements............................... — — (1,250)
Treasury stock issued in connection with common stock issuance, net of issuance costs ...................... — — 1,936
Treasurystockissuedtosettlestockforwardcontracts ......................................... — — 1,035
Dividendsonpreferredstock......................................................... (122) (122) (125)
Dividendsoncommonstock......................................................... (784) (610) (592)
Other,net.................................................................... (299) (34) 7
Netcashprovidedby(usedin)financingactivities.............................................. 13,381 (4,103) 6,189
Effectofchangeinforeigncurrencyexchangeratesoncashandcashequivalentsbalances..................... (129) 108 (349)
Changeincashandcashequivalents..................................................... 2,934 (14,127) 13,871
Cashandcashequivalents,beginningofyear................................................ 10,112 24,239 10,368
Cash and cash equivalents, end of year ................................................. $ 13,046 $10,112 $24,239
Cashandcashequivalents,subsidiariesheld-for-sale,beginningofyear ................................ $ — $ 32 $ 407
Cash and cash equivalents, subsidiaries held-for-sale, end of year ............................... $ — $ — $ 32
Cashandcashequivalents,fromcontinuingoperations,beginningofyear................................ $ 10,112 $24,207 $ 9,961
Cash and cash equivalents, from continuing operations, end of year .............................. $ 13,046 $10,112 $24,207
Supplemental disclosures of cash flow information:
Net cash paid (received) during the year for:
Interest.................................................................... $ 1,489 $ 989 $ 1,107
Incometax.................................................................. $ (23) $ 397 $ 27
Non-cash transactions during the year:
Business acquisitions:
Assetsacquired.............................................................. $125,689 $ — $ 2,083
Liabilitiesassumed............................................................ (109,267) — (1,300)
Redeemableandnon-redeemablenoncontrollinginterestsassumed ............................... (130) — —
Netassetsacquired ........................................................... 16,292 — 783
Cashpaid,excludingtransactioncostsof$88,$0and$0,respectively ............................. (7,196) — (783)
Otherpurchasepriceadjustments ................................................... 98 — —
Securitiesissued ............................................................. $ 9,194 $ — $ —
Disposal of subsidiary:
Assetsdisposed ............................................................. $ — $ — $22,135
Liabilitiesdisposed............................................................ — — (20,689)
Netassetsdisposed ........................................................... — — 1,446
Cashdisposed .............................................................. — — 270
Transactioncosts,includingcashpaidof$0,$19and$43,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
Juniorsubordinateddebtsecuritiesredeemed ............................................ $ — $ 1,067 $ 1,067
Purchasemoneymortgageloansonsalesofrealestatejointventures................................. $ 2 $ 93 $ —
Fixedmaturitysecuritiesreceivedinconnectionwithinsurancecontractcommutation........................ $ — $ — $ 115
Realestateandrealestatejointventuresacquiredinsatisfactionofdebt ............................... $ 93 $ 211 $ 1
See accompanying notes to the consolidated financial statements.
F-8 MetLife, Inc.