MetLife 2012 Annual Report Download - page 147

MetLife, Inc.
Notes to the Consolidated Financial Statements — (Continued)
December 31, 2011
Fair Value Hierarchy Total
Estimated
Fair ValueLevel 1 Level 2 Level 3
(In millions)
Assets:
Fixed maturity securities:
U.S. corporate .................................................................... $ — $ 99,001 $ 6,784 $105,785
Foreign corporate ................................................................. — 59,648 4,370 64,018
Foreign government ............................................................... 76 50,138 2,322 52,536
U.S. Treasury and agency ........................................................... 19,911 20,070 31 40,012
RMBS .......................................................................... — 41,035 1,602 42,637
CMBS .......................................................................... — 18,316 753 19,069
ABS............................................................................ — 11,129 1,850 12,979
State and political subdivision ........................................................ — 13,182 53 13,235
Total fixed maturity securities ....................................................... 19,987 312,519 17,765 350,271
Equity securities:
Common stock ................................................................... 819 1,105 281 2,205
Non-redeemable preferred stock ..................................................... — 380 438 818
Total equity securities ............................................................. 819 1,485 719 3,023
FVO and trading securities:
Actively Traded Securities ........................................................... — 473 — 473
FVO general account securities ...................................................... — 244 23 267
FVO contractholder-directed unit-linked investments ...................................... 7,572 8,453 1,386 17,411
FVO securities held by CSEs ........................................................ — 117 — 117
Total FVO and trading securities ..................................................... 7,572 9,287 1,409 18,268
Short-term investments (1) ........................................................... 8,150 8,120 590 16,860
Mortgage loans:
Commercial mortgage loans held by CSEs .............................................. — 3,138 — 3,138
Mortgage loans held-for-sale (2) ...................................................... — 9,302 1,414 10,716
Total mortgage loans .......................................................... — 12,440 1,414 13,854
Other invested assets:
MSRs .......................................................................... — — 666 666
Other investments ................................................................. 312 124 — 436
Derivative assets: (4)
Interest rate ..................................................................... 32 10,426 338 10,796
Foreign currency exchange rate ..................................................... 1 1,316 61 1,378
Credit ......................................................................... — 301 29 330
Equity market ................................................................... 29 2,703 964 3,696
Total derivative assets ........................................................... 62 14,746 1,392 16,200
Total other invested assets ..................................................... 374 14,870 2,058 17,302
Net embedded derivatives within asset host contracts (5) ................................... — 1 362 363
Separate account assets (6) .......................................................... 28,191 173,507 1,325 203,023
Total assets ...................................................................... $65,093 $532,229 $25,642 $622,964
Liabilities:
Derivative liabilities: (4)
Interest rate ...................................................................... $ 91 $ 2,351 $ 38 $ 2,480
Foreign currency exchange rate ...................................................... — 1,103 17 1,120
Credit .......................................................................... — 85 28 113
Equity market ..................................................................... 12 211 75 298
Total derivative liabilities ........................................................... 103 3,750 158 4,011
Net embedded derivatives within liability host contracts (5) ................................... — 19 4,565 4,584
Long-term debt of CSEs ............................................................. — 2,952 116 3,068
Liability related to securitized reverse residential mortgage loans (7) ............................ — 6,451 1,175 7,626
Trading liabilities (7) ................................................................. 124 3 — 127
Total liabilities ..................................................................... $ 227 $ 13,175 $ 6,014 $ 19,416
(1) Short-term investments as presented in the tables above differ from the amounts presented in the consolidated balance sheets because certain
short-term investments are not measured at estimated fair value on a recurring basis.
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