MetLife 2011 Annual Report Download - page 92

MetLife, Inc.
Consolidated Balance Sheets
December 31, 2011 and 2010
(In millions, except share and per share data)
2011 2010
Assets
Investments:
Fixed maturity securities available-for-sale, at estimated fair value (amortized cost: $329,811 and $317,617, respectively; includes $3,225 and
$3,330, respectively, relating to variable interest entities) ................................................................... $350,271 $324,797
Equity securities available-for-sale, at estimated fair value (cost: $3,208 and $3,621, respectively) .................................... 3,023 3,602
Trading and other securities, at estimated fair value (includes $473 and $463, respectively, of actively traded securities; and $280 and $387,
respectively, relating to variable interest entities) .......................................................................... 18,268 18,589
Mortgage loans:
Held-for-investment, principally at amortized cost (net of valuation allowances of $481 and $664, respectively; includes $3,187 and $6,840,
respectively, at estimated fair value, relating to variable interest entities) ...................................................... 56,915 58,976
Held-for-sale, principally at estimated fair value (includes $10,716 and $2,510, respectively, under the fair value option) ................. 15,178 3,321
Mortgage loans, net ............................................................................................. 72,093 62,297
Policy loans ....................................................................................................... 11,892 11,761
Real estate and real estate joint ventures (includes $15 and $10, respectively, relating to variable interest entities) ........................ 8,563 8,030
Other limited partnership interests (includes $259 and $298, respectively, relating to variable interest entities) ............................ 6,378 6,416
Short-term investments, principally at estimated fair value .................................................................... 17,310 9,384
Other invested assets, principally at estimated fair value (includes $98 and $104, respectively, relating to variable interest entities) ............ 23,628 15,430
Total investments ............................................................................................... 511,426 460,306
Cash and cash equivalents, principally at estimated fair value (includes $176 and $69, respectively, relating to variable interest entities) ......... 10,461 12,957
Accrued investment income (includes $16 and $34, respectively, relating to variable interest entities) .................................... 4,344 4,328
Premiums, reinsurance and other receivables (includes $12 and $2, respectively, relating to variable interest entities) ........................ 22,481 19,799
Deferred policy acquisition costs and value of business acquired ................................................................ 27,971 27,092
Goodwill ............................................................................................................ 11,935 11,781
Other assets (includes $5 and $6, respectively, relating to variable interest entities) .................................................. 7,984 8,174
Assets of subsidiaries held-for-sale ....................................................................................... — 3,331
Separate account assets ............................................................................................... 203,023 183,138
Total assets ................................................................................................... $799,625 $730,906
Liabilities and Equity
Liabilities
Future policy benefits .................................................................................................. $184,252 $170,912
Policyholder account balances .......................................................................................... 217,700 210,757
Other policy-related balances ........................................................................................... 15,599 15,750
Policyholder dividends payable .......................................................................................... 774 830
Policyholder dividend obligation .......................................................................................... 2,919 876
Payables for collateral under securities loaned and other transactions ............................................................. 33,716 27,272
Bank deposits ....................................................................................................... 10,507 10,316
Short-term debt ...................................................................................................... 686 306
Long-term debt (includes $3,068 and $6,902, respectively, at estimated fair value, relating to variable interest entities) ...................... 23,692 27,586
Collateral financing arrangements ........................................................................................ 4,647 5,297
Junior subordinated debt securities ....................................................................................... 3,192 3,191
Current income tax payable ............................................................................................. 193 297
Deferred income tax liability ............................................................................................. 7,535 1,856
Other liabilities (includes $60 and $93, respectively, relating to variable interest entities; and $7,626 and $0, respectively, under the fair value
option) ........................................................................................................... 30,914 20,366
Liabilities of subsidiaries held-for-sale ..................................................................................... — 3,043
Separate account liabilities .............................................................................................. 203,023 183,138
Total liabilities .................................................................................................. 739,349 681,793
Contingencies, Commitments and Guarantees (Note 16)
Redeemable noncontrolling interests in partially owned consolidated subsidiaries ................................................... 105 117
Equity
MetLife, Inc.’s stockholders’ equity:
Preferred stock, par value $0.01 per share; 200,000,000 shares authorized: .....................................................
Preferred stock, 84,000,000 shares issued and outstanding; $2,100 aggregate liquidation preference ............................... 1 1
Convertible preferred stock, 0 and 6,857,000 shares issued and outstanding at December 31, 2011 and 2010, respectively ............. — —
Common stock, par value $0.01 per share; 3,000,000,000 shares authorized; 1,061,150,915 and 989,031,704 shares issued at
December 31, 2011 and 2010, respectively; 1,057,957,028 and 985,837,817 shares outstanding at December 31, 2011 and 2010,
respectively ..................................................................................................... 11 10
Additional paid-in capital .............................................................................................. 26,782 26,423
Retained earnings .................................................................................................. 27,289 21,363
Treasury stock, at cost; 3,193,887 shares at December 31, 2011 and 2010 ..................................................... (172) (172)
Accumulated other comprehensive income (loss) .......................................................................... 5,886 1,000
Total MetLife, Inc.’s stockholders’ equity ............................................................................. 59,797 48,625
Noncontrolling interests ................................................................................................ 374 371
Total equity .................................................................................................... 60,171 48,996
Total liabilities and equity .......................................................................................... $799,625 $730,906
See accompanying notes to the consolidated financial statements.
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