MetLife 2011 Annual Report Download - page 124

MetLife, Inc.
Notes to the Consolidated Financial Statements — (Continued)
Net Unrealized Investment Gains (Losses)
The components of net unrealized investment gains (losses), included in accumulated other comprehensive income (loss), were as follows:
Years Ended December 31,
2011 2010 2009
(In millions)
Fixed maturity securities ......................................................... $21,096 $ 7,817 $(1,208)
Fixed maturity securities with noncredit OTTI losses in accumulated other comprehensive
income (loss) ............................................................... (724) (601) (859)
Total fixed maturity securities ................................................. 20,372 7,216 (2,067)
Equity securities ............................................................... (167) (3) (103)
Derivatives ................................................................... 1,514 (59) (144)
Other ....................................................................... 72 42 71
Subtotal ................................................................. 21,791 7,196 (2,243)
Amounts allocated from:
Insurance liability loss recognition ................................................ (3,996) (672) (118)
DAC and VOBA related to noncredit OTTI losses recognized in accumulated other
comprehensive income (loss) ................................................. 47 38 71
DAC and VOBA ............................................................. (2,093) (1,205) 145
Policyholder dividend obligation ................................................. (2,919) (876) —
Subtotal ................................................................. (8,961) (2,715) 98
Deferred income tax benefit (expense) related to noncredit OTTI losses recognized in
accumulated other comprehensive income (loss) ................................... 236 197 275
Deferred income tax benefit (expense) .............................................. (4,596) (1,692) 539
Net unrealized investment gains (losses) ............................................ 8,470 2,986 (1,331)
Net unrealized investment gains (losses) attributable to noncontrolling interests .............. 9 4 1
Net unrealized investment gains (losses) attributable to MetLife, Inc. ....................... $ 8,479 $ 2,990 $(1,330)
The changes in fixed maturity securities with noncredit OTTI losses included in accumulated other comprehensive income (loss) were as follows:
December 31,
2011 2010
(In millions)
Balance, beginning of period ............................................................. $(601) $(859)
Noncredit OTTI losses recognized(1) ....................................................... 31 (212)
Transferred to retained earnings(2) ......................................................... — 16
Securities sold with previous noncredit OTTI loss .............................................. 125 137
Subsequent changes in estimated fair value ................................................. (279) 317
Balance, end of period .................................................................. $(724) $(601)
(1) Noncredit OTTI losses recognized, net of DAC, were $33 million and ($202) million for the years ended December 31, 2011 and 2010, respectively.
(2) Amounts transferred to retained earnings were in connection with the adoption of guidance related to the consolidation of VIEs as described in
Note 1.
120 MetLife, Inc.