MetLife 2011 Annual Report Download - page 142

MetLife, Inc.
Notes to the Consolidated Financial Statements — (Continued)
December 31,
2011 2010
(In millions)
Assets:
Mortgage loans held-for-investment (commercial mortgage loans) .................................. $3,138 $6,840
Trading and other securities ............................................................... 117 201
Accrued investment income ............................................................... 16 34
Cash and cash equivalents ................................................................ 21 39
Premiums, reinsurance and other receivables ................................................. 7 —
Total assets .......................................................................... $3,299 $7,114
Liabilities:
Long-term debt ......................................................................... $3,068 $6,820
Other liabilities .......................................................................... 35 72
Total liabilities ........................................................................ $3,103 $6,892
(2) See Note 12 for a description of the MetLife Reinsurance Company of South Carolina (“MRSC”) collateral financing arrangement. These assets
consist of the following, at estimated fair value, at:
December 31,
2011 2010
(In millions)
Fixed maturity securities available-for-sale:
ABS ................................................................................. $1,356 $1,333
U.S. corporate securities ................................................................. 833 893
RMBS ................................................................................ 502 547
CMBS ................................................................................ 369 383
Foreign corporate securities ............................................................... 126 139
State and political subdivision securities ...................................................... 39 30
Foreign government securities ............................................................. — 5
Mortgage loans ........................................................................... 49 —
Cash and cash equivalents ................................................................. 59 3
Total ................................................................................... $3,333 $3,333
The following table presents the carrying amount and maximum exposure to loss relating to VIEs for which the Company holds significant variable
interests but is not the primary beneficiary and which have not been consolidated at:
December 31,
2011 2010
Carrying
Amount
Maximum
Exposure
to Loss(1) Carrying Amount
Maximum
Exposure
to Loss(1)
(In millions)
Fixed maturity securities available-for-sale:
RMBS(2) ....................................................... $42,637 $42,637 $45,852 $45,852
CMBS(2) ....................................................... 19,069 19,069 20,675 20,675
ABS(2) ........................................................ 12,979 12,979 13,168 13,168
U.S. corporate securities .......................................... 2,911 2,911 2,435 2,435
Foreign corporate securities ........................................ 2,087 2,087 2,950 2,950
Other limited partnership interests ..................................... 4,340 6,084 4,383 6,479
Other invested assets ............................................... 799 1,194 576 773
Trading and other securities .......................................... 671 671 789 789
Mortgage loans .................................................... 456 456 350 350
Real estate joint ventures ............................................ 61 79 40 108
Total .......................................................... $86,010 $88,167 $91,218 $93,579
(1) The maximum exposure to loss relating to the fixed maturity and trading and other securities is equal to the carrying amounts or carrying amounts of
retained interests. The maximum exposure to loss relating to the other limited partnership interests and real estate joint ventures is equal to the
carrying amounts plus any unfunded commitments of the Company. Such a maximum loss would be expected to occur only upon bankruptcy of
138 MetLife, Inc.