MetLife 2013 Annual Report Download - page 124

MetLife, Inc.
Notes to the Consolidated Financial Statements — (Continued)
5. Deferred Policy Acquisition Costs, Value of Business Acquired and Other Policy-Related Intangibles (continued)
Information regarding DAC and VOBA was as follows:
Years Ended December 31,
2013 2012 2011
(In millions)
DAC
Balance at January 1, ........................................................................... $17,150 $15,240 $13,377
Capitalizations ................................................................................ 4,786 5,289 5,558
Amortization related to:
Net investment gains (losses) and net derivative gains (losses) ......................................... 192 (40) (478)
Other expenses ............................................................................. (2,812) (2,875) (2,614)
Total amortization .......................................................................... (2,620) (2,915) (3,092)
Unrealized investment gains (losses) ............................................................... 924 (516) (427)
Effect of foreign currency translation and other ....................................................... (466) 52 (176)
Balance at December 31, ....................................................................... 19,774 17,150 15,240
VOBA
Balance at January 1, ........................................................................... 7,611 9,379 11,088
Acquisitions (1) ................................................................................ 947 55 11
Amortization related to:
Net investment gains (losses) and net derivative gains (losses) ......................................... 3 (1) (49)
Other expenses ............................................................................. (933) (1,283) (1,757)
Total amortization .......................................................................... (930) (1,284) (1,806)
Unrealized investment gains (losses) ............................................................... 358 (197) (361)
Effect of foreign currency translation and other ....................................................... (1,054) (342) 447
Balance at December 31, ....................................................................... 6,932 7,611 9,379
Total DAC and VOBA
Balance at December 31, ....................................................................... $26,706 $24,761 $24,619
(1) See Note 3 for a description of acquisitions.
Information regarding total DAC and VOBA by segment, as well as Corporate & Other, was as follows at:
December 31,
2013 2012
(In millions)
Retail ................................................................................................. $12,882 $11,500
Group, Voluntary & Worksite Benefits ........................................................................ 382 382
Corporate Benefit Funding ................................................................................ 99 96
Latin America .......................................................................................... 2,201 1,231
Asia .................................................................................................. 9,077 9,554
EMEA ................................................................................................ 2,039 1,998
Corporate & Other ...................................................................................... 26 —
Total ............................................................................................... $26,706 $24,761
116 MetLife, Inc.