MetLife 2011 Annual Report Download - page 156

MetLife, Inc.
Notes to the Consolidated Financial Statements — (Continued)
December 31, 2011
Fair Value Measurements at Reporting Date Using
Quoted Prices in
Active Markets for
Identical Assets
and Liabilities
(Level 1)
Significant Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Total
Estimated
Fair
Value
(In millions)
Liabilities:
Derivative liabilities:(3)
Interest rate contracts ..................................................... $ 91 $ 2,351 $ 38 $ 2,480
Foreign currency contracts ................................................. — 1,103 17 1,120
Credit contracts .......................................................... — 85 28 113
Equity market contracts .................................................... 12 211 75 298
Total derivative liabilities .................................................. 103 3,750 158 4,011
Net embedded derivatives within liability host contracts(4) ........................... — 19 4,565 4,584
Long-term debt of CSEs ..................................................... — 2,952 116 3,068
Liability related to securitized reverse residential mortgage loans(6) .................... — 6,451 1,175 7,626
Trading liabilities(6) .......................................................... 124 3 — 127
Total liabilities ............................................................ $ 227 $ 13,175 $ 6,014 $ 19,416
December 31, 2010
Fair Value Measurements at Reporting Date Using
Quoted Prices in
Active Markets for
Identical Assets
and Liabilities
(Level 1)
Significant Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Total
Estimated
Fair
Value
(In millions)
Assets:
Fixed maturity securities:
U.S. corporate securities ................................................... $ — $ 84,623 $ 7,149 $ 91,772
Foreign corporate securities ................................................ — 62,162 5,726 67,888
Foreign government securities ............................................... 149 38,719 3,134 42,002
RMBS ................................................................. 274 43,037 2,541 45,852
U.S. Treasury and agency securities .......................................... 14,602 18,623 79 33,304
CMBS ................................................................. — 19,664 1,011 20,675
State and political subdivision securities ....................................... — 10,083 46 10,129
ABS ................................................................... — 10,142 3,026 13,168
Other fixed maturity securities ............................................... — 3 4 7
Total fixed maturity securities .............................................. 15,025 287,056 22,716 324,797
Equity securities:
Common stock .......................................................... 831 1,094 268 2,193
Non-redeemable preferred stock ............................................. — 504 905 1,409
Total equity securities .................................................... 831 1,598 1,173 3,602
Trading and other securities:
Actively Traded Securities .................................................. — 453 10 463
FVO general account securities .............................................. — 54 77 131
FVO contractholder-directed unit-linked investments ............................. 6,270 10,789 735 17,794
FVO securities held by CSEs ................................................ — 201 — 201
Total trading and other securities ........................................... 6,270 11,497 822 18,589
Short-term investments(1) .................................................... 3,026 4,681 858 8,565
Mortgage loans:
Commercial mortgage loans held by CSEs ..................................... — 6,840 — 6,840
Residential mortgage loans held-for-sale(2) ..................................... — 2,486 24 2,510
Total mortgage loans .................................................... — 9,326 24 9,350
152 MetLife, Inc.