MetLife 2012 Annual Report Download - page 158
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MetLife, Inc.
Notes to the Consolidated Financial Statements — (Continued)
Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
Net Derivatives: (7)
Interest
Rate
Foreign
Currency
Exchange
Rate Credit Equity
Market
Net
Embedded
Derivatives (8)
Separate
Account
Assets (9)
Long-term
Debt of
CSEs
Liability
Related to
Securitized
Reverse
Mortgage
Loans
(In millions)
Year Ended December 31, 2012:
Balance, January 1, ...................... $ 300 $ 44 $ 1 $ 889 $ (4,203) $ 1,325 $ (116) $ (1,175)
Total realized/unrealized gains
(losses) included in:
Net income (loss): (1), (2)
Net investment income ................ — — — — — — — —
Net investment gains (losses) ........... — — — — — 99 (7) —
Net derivative gains (losses) ............ 15 10 48 (606) 1,305 — — —
Other revenues ...................... (67) — — — — — — 1
Policyholder benefits and claims ......... — — — 29 75 — — —
Other expenses ..................... — — — — — — — —
Other comprehensive income (loss) ........ — — — (3) 259 — — —
Purchases (3) ........................... — — — 19 — 244 — —
Sales (3) ............................... — — — — — (443) — 1,149
Issuances (3) ........................... — — (3) (44) — 2 — —
Settlements (3) .......................... (71) (17) (3) (156) (598) (1) 79 23
Transfers into Level 3 (4) .................. — — — — — 24 — —
Transfers out of Level 3 (4) ................. — — — — — (45) — 2
Balance, December 31, ................... $ 177 $ 37 $ 43 $ 128 $ (3,162) $ 1,205 $ (44) $ —
Changes in unrealized gains (losses)
included in net income (loss): (5)
Net investment income ................ $ — $ — $ — $ — $ — $ — $ — $ —
Net investment gains (losses) ........... $ — $ — $ — $ — $ — $ — $ (7) $ —
Net derivative gains (losses) ............ $ — $ (12) $ 47 $ (593) $ 1,275 $ — $ — $ —
Other revenues ...................... $ — $ — $ — $ — $ — $ — $ — $ —
Policyholder benefits and claims ......... $ — $ — $ — $ 29 $ 78 $ — $ — $ —
Other expenses ..................... $ — $ — $ — $ — $ — $ — $ — $ —
152 MetLife, Inc.