MetLife 2012 Annual Report Download - page 194

MetLife, Inc.
Notes to the Consolidated Financial Statements — (Continued)
December 31, 2011
Pension Benefits Other Postretirement Benefits
Fair Value Hierarchy Fair Value Hierarchy
Level 1 Level 2 Level 3
Total
Estimated
Fair Value Level 1 Level 2 Level 3
Total
Estimated
Fair Value
(In millions)
Assets:
Fixed maturity securities:
Corporate .............................................. $ — $1,932 $ 32 $1,964 $ — $139 $ 4 $ 143
U.S. government bonds ................................... 1,007 187 — 1,194 160 1 — 161
Foreign bonds ........................................... — 213 5 218 — 13 — 13
Federal agencies ......................................... 1 286 — 287 — 29 — 29
Municipals .............................................. — 184 — 184 — 59 1 60
Other (1) ............................................... — 473 2 475 — 84 5 89
Total fixed maturity securities .............................. 1,008 3,275 39 4,322 160 325 10 495
Equity securities:
Common stock - domestic ................................. 1,149 38 206 1,393 240 2 — 242
Common stock - foreign ................................... 287 — — 287 55 — — 55
Total equity securities ................................... 1,436 38 206 1,680 295 2 — 297
Other investments .......................................... — 69 531 600 — — — —
Short-term investments ...................................... 4 401 — 405 6 435 — 441
Money market securities ..................................... 2 — — 2 — 1 — 1
Derivative assets ........................................... 30 10 4 44 — — 1 1
Other receivables .......................................... — 47 — 47 — 4 — 4
Securities receivable ........................................ — 8 — 8 — 1 — 1
Total assets ......................................... $2,480 $3,848 $780 $7,108 $461 $768 $11 $1,240
(1) Other primarily includes mortgage-backed securities, collateralized mortgage obligations, and ABS. The prior year amounts have been reclassified
into fixed maturity securities to conform to the current year presentation.
A rollforward of all pension and other postretirement benefit plan assets measured at estimated fair value on a recurring basis using significant
unobservable (Level 3) inputs was as follows:
Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
Pension Benefits
Fixed Maturity
Securities: Equity Securities:
Corporate Foreign Bonds Other (1)
Common
Stock-
Domestic Other Investments Derivative Assets
(In millions)
Year Ended December 31, 2012:
Balance, January 1, ................................................. $32 $ 5 $ 2 $206 $ 531 $ 4
Realized gains (losses) ............................................... — — — (27) 55 6
Unrealized gains (losses) ............................................. (1) 8 — 10 (36) (7)
Purchases, sales, issuances and settlements, net .......................... (12) (5) 5 (52) (103) (2)
Transfers into and/or out of Level 3 ..................................... — — — — — —
Balance, December 31, .............................................. $19 $ 8 $ 7 $137 $ 447 $ 1
188 MetLife, Inc.