MetLife 2013 Annual Report Download - page 171
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MetLife, Inc.
Notes to the Consolidated Financial Statements — (Continued)
10. Fair Value (continued)
Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
Net Derivatives: (6)
Interest
Rate
Foreign
Currency
Exchange
Rate Credit Equity
Market
Net
Embedded
Derivatives (7)
Separate
Account
Assets (8)
Long-term
Debt of
CSEs — FVO MSRs (9)
Liability
Related
to Securitized
Reverse
Mortgage
Loans (9)
(In millions)
Year Ended December 31, 2012:
Balance at January 1, .............$ 300 $ 44 $ 1 $ 889 $ (4,203) $ 1,325 $ (116) $ 666 $ (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) — — — — — — (83) 1
Policyholder benefits and
claims ................... — — — 29 75 — — — —
Other expenses .............. — — — — — — — — —
OCI ......................... — — — (3) 259 — — — —
Purchases (3) ................... — — — 19 — 244 — — —
Sales (3) ....................... — — — — — (443) — (485) 1,149
Issuances (3) .................... — — (3) (44) — 2 — 43 —
Settlements (3) .................. (71) (17) (3) (156) (598) (1) 79 (141) 23
Transfers into Level 3 (4) ........... — — — — — 24 — — —
Transfers out of Level 3 (4) ......... — — — — — (45) — — 2
Balance at 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 ..............$ — $ — $ — $ — $ — $ — $ — $ — $ —
MetLife, Inc. 163