MetLife 2012 Annual Report Download - page 83

MetLife, Inc.
Consolidated Balance Sheets
December 31, 2012 and 2011
(In millions, except share and per share data)
2012 2011
Assets
Investments:
Fixed maturity securities available-for-sale, at estimated fair value (amortized cost: $340,870 and $329,811, respectively; includes $3,378
and $3,225, respectively, relating to variable interest entities) .............................................................. $ 374,266 $ 350,271
Equity securities available-for-sale, at estimated fair value (cost: $2,838 and $3,208, respectively) ................................... 2,891 3,023
Fair value option and trading securities, at estimated fair value (includes $659 and $473, respectively, of actively traded securities; and $112
and $280, respectively, relating to variable interest entities) ................................................................ 16,348 18,268
Mortgage loans:
Held-for-investment, principally at amortized cost (net of valuation allowances of $347 and $481, respectively; includes $2,715 and $3,187,
respectively, at estimated fair value, relating to variable interest entities) ..................................................... 56,592 56,915
Held-for-sale, principally at estimated fair value (includes $49 and $10,716, respectively, under the fair value option) ................... 414 15,178
Mortgage loans, net ............................................................................................. 57,006 72,093
Policy loans ...................................................................................................... 11,884 11,892
Real estate and real estate joint ventures (includes $10 and $15, respectively, relating to variable interest entities) ....................... 9,918 8,563
Other limited partnership interests (includes $274 and $259, respectively, relating to variable interest entities) .......................... 6,688 6,378
Short-term investments, principally at estimated fair value .................................................................. 16,906 17,310
Other invested assets, principally at estimated fair value (includes $81 and $98, respectively, relating to variable interest entities) ........... 21,145 23,581
Total investments ............................................................................................ 517,052 511,379
Cash and cash equivalents, principally at estimated fair value (includes $99 and $176, respectively, relating to variable interest entities) ....... 15,738 10,461
Accrued investment income (includes $13 and $16, respectively, relating to variable interest entities) .................................. 4,374 4,344
Premiums, reinsurance and other receivables (includes $5 and $12, respectively, relating to variable interest entities) ..................... 21,634 22,481
Deferred policy acquisition costs and value of business acquired .............................................................. 24,761 24,619
Goodwill ......................................................................................................... 9,953 11,935
Other assets (includes $5 and $5, respectively, relating to variable interest entities) ................................................ 7,876 7,984
Separate account assets ............................................................................................. 235,393 203,023
Total assets ................................................................................................. $ 836,781 $ 796,226
Liabilities and Equity
Liabilities
Future policy benefits ................................................................................................ $ 192,351 $ 184,275
Policyholder account balances ........................................................................................ 225,821 217,700
Other policy-related balances ......................................................................................... 15,463 15,599
Policyholder dividends payable ........................................................................................ 728 774
Policyholder dividend obligation ........................................................................................ 3,828 2,919
Payables for collateral under securities loaned and other transactions .......................................................... 33,687 33,716
Bank deposits ..................................................................................................... 6,416 10,507
Short-term debt .................................................................................................... 100 686
Long-term debt (includes $2,527 and $3,068, respectively, at estimated fair value, relating to variable interest entities) .................... 19,062 23,692
Collateral financing arrangements ...................................................................................... 4,196 4,647
Junior subordinated debt securities ..................................................................................... 3,192 3,192
Current income tax payable ........................................................................................... 401 193
Deferred income tax liability ........................................................................................... 8,693 6,395
Other liabilities (includes $40 and $60, respectively, relating to variable interest entities; and $0 and $7,626, respectively, under the fair value
option) ......................................................................................................... 22,492 30,914
Separate account liabilities ........................................................................................... 235,393 203,023
Total liabilities ................................................................................................ 771,823 738,232
Contingencies, Commitments and Guarantees (Note 21)
Redeemable noncontrolling interests in partially-owned consolidated subsidiaries ................................... 121 105
Equity
MetLife, Inc.’s stockholders’ equity: .......................................................................
Preferred stock, par value $0.01 per share; 200,000,000 shares authorized: 84,000,000 shares issued and outstanding;
$2,100 aggregate liquidation preference ............................................................... 1 1
Common stock, par value $0.01 per share; 3,000,000,000 shares authorized; 1,094,880,623 and 1,061,150,915 shares
issued at December 31, 2012 and 2011, respectively; 1,091,686,736 and 1,057,957,028 shares outstanding at
December 31, 2012 and 2011, respectively ............................................................ 11 11
Additional paid-in capital .............................................................................. 28,011 26,782
Retained earnings ................................................................................... 25,205 24,814
Treasury stock, at cost; 3,193,887 shares at December 31, 2012 and 2011 ..................................... (172) (172)
Accumulated other comprehensive income (loss) .......................................................... 11,397 6,083
Total MetLife, Inc.’s stockholders’ equity .............................................................. 64,453 57,519
Noncontrolling interests ................................................................................ 384 370
Total equity .................................................................................... 64,837 57,889
Total liabilities and equity .......................................................................... $836,781 $796,226
See accompanying notes to the consolidated financial statements.
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